Real Estate Information

Ace Team's Real Estate Blog

Manoj Kumar Arora

Blog

Displaying blog entries 1-10 of 230

Bank of Canada raises overnight rate target to 1.5 percent

by Manoj Kumar Arora

Bank of Canada raises overnight rate target to 1.5 percent

The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.

The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in 2019, in line with the April Monetary Policy Report (MPR). The US economy is proving stronger than expected, reinforcing market expectations of higher policy rates and pushing up the US dollar. This is contributing to financial stresses in some emerging market economies. Meanwhile, oil prices have risen. Yet, the Canadian dollar is lower, reflecting broad-based US dollar strength and concerns about trade actions. The possibility of more trade protectionism is the most important threat to global prospects.

Canada’s economy continues to operate close to its capacity and the composition of growth is shifting. Temporary factors are causing volatility in quarterly growth rates: the Bank projects a pick-up to 2.8 per cent in the second quarter and a moderation to 1.5 per cent in the third. Household spending is being dampened by higher Interest rates and tighter Mortgage lending guidelines. Recent data suggest housing markets are beginning to stabilize following a weak start to 2018. Meanwhile, exports are being buoyed by strong global demand and higher commodity prices. Business investment is growing in response to solid demand growth and capacity pressures, although trade tensions are weighing on investment in some sectors. Overall, the Bank still expects average growth of close to 2 per cent over 2018-2020.

READ THE COMPLETE BANK OF CANADA REPORT HERE

Greater Toronto Area Real Estate Prices Stabilize in June 2018 with Home Sales increasing by 17.6% over May 2018

Greater Toronto Area REALTORS® reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4 per cent compared to the low June 2017 result. After preliminary seasonal adjustment, sales were also up 17.6 per cent on a monthly basis between May 2018 and June 2018, continuing the trend of somewhat volatile month-over-month changes over the past year as home Buyers reacted to various policy changes impacting the market.

“Home ownership has proven to be a positive long-term investment. After some adjustment to the Fair Housing Plan, the new Office of The Superintendent of Financial Institutions (OSFI) stress test requirement and generally higher borrowing costs, home Buyers are starting to move back into the market, with sales trending up from last year’s lows. Market conditions appear to be tightening, with sales accounting for a greater share of listings, as new listings have dropped compared to last year,” said Mr. Bhaura.

The average Selling price edged up by two per cent on a year-over-year basis to $807,871 in June 2018. After preliminary seasonal adjustment, the average selling price was also up by 3.3 per cent month-over-month between May 2018 and June 2018. The MLS® Home Price Index (HPI) was down by 4.8 per cent on a year-over-year basis, but remained basically flat month-over-month. The difference in the year-over-year rates of change between the average price and the MLS® HPI was likely due, at least in part, to a change in the mix of Properties sold in June 2018 compared to June 2017, with low-rise home types accounting for a greater share of sales in June 2018.

“The expectation is to see improvement in sales over the next year. Over the same period, however, it is likely that issues surrounding the supply of listings will persist. This suggests that competition between Buyers could increase, exerting increased upward pressure on home prices. With a new provincial government in place and municipal elections on the horizon, housing supply should be top-of-mind for policy makers,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

READ THE COMPLETE MARKET WATCH REPORT HERE

  

Profitable Franchise Shawarma & Grill Restaurant Business for Sale at Prime Downtown Toronto Location

Front Street Location Across From Rogers Center! Patio Outside! High Traffic Area! Busy Office Building Location With 1000'S Of Employees Working In and around the Building, Access From Outside The Building.
  • Well Established Franchise! Potential To Extend Opening Hours To Increase Sales!
  • Sales Aprox $365000/Yr (As Per Seller), *Newer Assets*, Long Lease Approx 8 Years,
  • Short Hours Of Operation M-F 10:30 Am-10 Pm, Perfect Family Business!
  • Fixed low Royalty Fees.
  • Great investment opportunity.
Call me now at 416-618-9753 for more details and your private viewing!!
 
http://www.aceteamrealty.com/Property/330-Front-Street-West-Toronto-Ontario

Fully Detached 3+2 BR 3 Bath Home For Sale in NorthYork, Toronto

by Manoj Kumar Arora

Fully Detached 3+2 BR 3 Bath Home For Sale in NorthYork, Toronto

Spacious family home to live in - Great Investment property.

Live in or collect Rent or do both.


Amazingly Large Space On The Inside. Fabulous Location, Just 8 Minutes Walk To Eglinton West Subway, Shops And New Crosstown**, Renovated Kitchen With S/S Appliances, Family Rm Addition & Backyard Oasis, 2nd Floor Kitchen. Ideal For Large Or Growing Family With 3 Bedrooms & 3 Baths. Additional Rooms W/Kitchen In Lower Level.** Savvy Investors Note: Has Potential For 3 Separate Units. Brand New A.C And Roof Shingles.

Rear Workshop Has Elect Service ** Fenced Kitchen Garden **Include: S/S Fridge, S/S Stove, S/S B/I Dw, Washer, Dryer, Fridge & Stove In Basement**Gas Fireplace **All Light Fixtures, As Per M.P.A.C's Over 1600Sqft + Basement** Not To Be Missed **

Call me now at 416-618-9753 for your private viewing.

Greater Toronto Area (GTA) Real Estate Sales dropped by 32.1% with Home Prices down by 12.4% in April 2018

Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018. The average Selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.

The year-over-year change in the overall average Selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017. The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next. This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price.

“While average Selling prices have not climbed back to last year’s record peak, April’s price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of Buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation,” said Mr. Syrianos.

After preliminary seasonal adjustment1 , the month-over-month change (i.e. March 2018 to April 2018) in sales and the average Selling price was minimal, with sales decreasing 1.6 per cent and the average selling price decreasing by 0.2 per cent. The month-over-month sales trend has flattened out over the past two months following a steeper drop-off in January and February.

“The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types. Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Provincial Election Candidates Should Make Housing Issues a Top Priority. With a provincial election campaign about to begin, GTA REALTORS® hope that all of the provincial parties will make housing issues a priority. Home ownership is a worthwhile investment that benefits our economy, individual finances and quality of life,” said Mr. Syrianos.

“In recent months and years, there has been significant intervention in housing markets by all levels of government, through regulatory changes and taxation. We believe the next step should be tax relief, especially from Land Transfer Taxes, both provincial and the Toronto Land Transfer Tax, and efforts to facilitate an increase in the supply of missing middle housing that fills the gap between single family homes and high rises. Furthermore, we believe that any attempt to increase the Toronto Land Transfer Tax should require approval from the provincial government, given the significance of Toronto’s economy to the Province and the connections between the Toronto real estate market and that of the broader GTA,” added Syrianos.

READ THE COMPLETE MARKET WATCH REPORT HERE

   

Brantford: This year’s No. 1 city to buy real estate is affordable with a strong economy...One more reason to buy this family home

As per MoneySense magazine, Brantford ranks No. 1 city to buy real estate in 2018.  Even though Brantford is more than 100 kilometres away from Toronto's downtown, it's still considered part of the Greater Golden Horseshoe, an area stretching from Niagara to Peterborough, Ont, that has experienced a lift in housing values as priced-out Toronto buyer look farther afield.

Read the complete article on MoneySense Magazine's website

ONE MORE REASON TO BUY THIS BEAUTIFUL 1 YEAR NEW 4 BEDROOM FAMILY HOME IN BRANTFORD

Just 1 year new 4 Bedroom 4 Bath Detached Home for Sale in Empire Community's sought after in Brantford.

SEE MORE DETAILS AND VIRTUAL TOUR HERE


   

Executive 4 Bedroom 4 Bath Home for Sale in the Preserve community of Oakville, Ontario, Canada

The Spectacular Mattamy's Most Sought-After Snowberry Model, With Partly Finished Basement In The Preserve Community Of North Oakville! 2800 Square feet of Premium Living!! $$$ Spent On Upgrades. Energy Star Home!! Smart Home Enabled!!

Get Complete Detail on this great family home here

 

   

Anoush franchise Middle Eastern Cuisine Restaurant for sale in prime Downtown Toronto location


Profitable Business At A Prime Downtown Front Street Location Across From Rogers Center! Patio Outside! High Traffic Area! Busy Office Building Location With 1000'S Of Employees Working In and around the Building, Access From Outside The Building. Well Established Franchise! Potential To Extend Opening Hours To Increase Sales!

Sales Aprox $365000/Yr (As Per Seller), *Newer Assets*, Long Lease Approx 8.5 Years, Short Hours Of Operation M-F 10:30 Am-10 Pm, Perfect Family Business! Fixed low Royalty Fees. 

Please Do Not Talk To Staff/Management, & Remain Confidential & Professional.

A perfect investment opportunity.

Call me now at 416-618-9753 for more details and your private viewing!!

Real Estate Sales dropped by 34.9% in Greater Toronto Area while average home prices reduced by 12.4% in February 2018

TORONTO, ONTARIO, March 6, 2018 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 5,175 residential transactions through TREB’s MLS® System in February 2018. This result was down 34.9 percent compared to the record 7,955 sales reported in February 2017.

The number of new listings entered into TREB’s MLS® System totaled 10,520, a 7.3 per cent increase compared to the 9,801 new listings entered in February 2017.However, the level of new listings remained below the average for the month of February for the previous 10 years.

“When TREB released its Outlook for 2018, the forecast anticipated a slow start to the year compared to the historically high sales count reported in the winter and early spring of 2017. Prospective home Buyers are still coming to terms with the psychological impact of the Fair Housing Plan, and some have also had to reevaluate their plans due to the new OFSI-mandated Mortgage stress test guidelines and generally higher borrowing costs,” said Mr. Syrianos.

The MLS® Home Price Index Composite Benchmark was up by 3.2 per cent on a year over-year basis for the TREB market area as a whole. This growth was driven by the apartment and townhouse market segments, with annual benchmark price increases of 18.8 per cent and 7.5 per cent respectively. Single-family detached and attached benchmark prices were down slightly compared to February 2017. The overall average Selling price for February sales was down 12.4% year-over-year to $767,818. However, putting aside the price spike reported in the first quarter of 2017, it is important to note that February’s average price remained 12 per cent higher than the average reported for February 2016, which represents an annualized increase well above the rate of inflation for the past two years.

“As we move further into the spring and summer months, growth in sales and Selling prices is expected to pick up relative to last year. Expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments. This being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability,” said Jason Mercer, TREB’s Director of Market Analysis.

Read the complete Market Watch Report here

   

 

The Bank of Canada maintained its target for the overnight rate at 1 per cent.

by Manoj Kumar Arora

The Bank of Canada maintained its target for the overnight rate at 1 %

The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead. Growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased. The global outlook remains subject to considerable uncertainty, notably about geopolitical developments and trade policies.

Recent Canadian data are in line with October’s outlook, which was for growth to moderate while remaining above potential in the second half of 2017. Employment growth has been very strong and wages have shown some improvement, supporting robust consumer spending in the third quarter. Business investment continued to contribute to growth after a strong first half, and public infrastructure spending is becoming more evident in the data. Following exceptionally strong growth earlier in 2017, exports declined by more than was expected in the third quarter. However,  the latest trade data support the MPR projection that export growth will resume as foreign demand strengthens. Housing has continued to moderate, as expected.

Read the complete press release at Bank of Canada's Website

Displaying blog entries 1-10 of 230

Syndication

Categories

Archives

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155