The Toronto Real Estate Board (TREB) released their Market Year in Review & Outlook Report and announced their predictions for the GTA housing market at their annual TREB Outlook presentation earlier this month. The event was attended by representatives from the Building Industry and Land Development Association (BILD) and RealNet Canada, among other industry leaders, with live updates posted on twitter through the TREB account and #TREBOutlook hashtag.
The report detailed the record sales numbers seen in 2015, with consistent increases in average prices and the number of transactions across all types of residential developments, which in benefitted the economy to the tune of an additional $5.5 billion in spending.
2016 is expected to see the continuation of strong home sales as demand remains high, while improvements to infrastructure is considered the key to enhancing the Greater Golden Horseshoe (GGH) region’s livability rating and ensuring it remains a competitive global region. This year is also expected to see high-rise developments continue to account for the majority of new-home sales.
“The future is going to be taller, it’s going to be smaller and more expensive.” #TREBOutlook @RealNet_Canada @bildgta
— TREB (@TREBhome) January 18, 2016
“On avg. residents from the GTA will have 28% of their purchase price covered by a down payment.” #TREBOutlook
— TREB (@TREBhome) January 18, 2016
View the full TREB Market Year in Review & Outlook Report here.
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