According to Morguard’s 2019 Canadian Economic Outlook & Market Fundamentals, not only is Toronto’s economy on fire but it’s commercial vacancy rate is very low due to constrained supply & high demand, which in turn has put upward pressure on prices.
It is apparently a real struggle to find office space in both Vancouver and Toronto as rents are at peak for this cycle. Toronto is easily the country’s safest bet for investment funds and a huge reason for that is the city’s diverse economy.
Keith Reading (Morguard’s director of research) says that Toronto is the biggest economic centre in Canada and also the most stable. “Over time, values will only increase in the commercial sector. You can’t just create another Toronto. It’s a 24-hour, world-class city, so your investment is pretty safe. It’s a large, diverse economy and it has a lot of things going for it. If you’re looking for a safety in your investment, Toronto is the first place to go in Canada.”
Are you an investor or first time buyer looking for an Affordable Starter Home or Investment?
If your budget is under $400,000 or even $350,000 – the Hamilton area has more to offer than you might think.
Call Stanley Lendak of Sutton Group Realty Systems – Top Professional in the Hamilton Area.
Stan works with many investors looking for income properties or homes with the potential of great rent. He can assist with sending you listing on special properties, giving you advice on neighbour conveniences and which areas command the highest rent.
Call Stan today at 905-896-3333 or direct at 416-820-8661
Check out our listings at http://www.SuttonRealty.com
2018 – The year when Canada’s housing market hit the brakes… What will happen in 2019?
The Canadian Real Estate Association sees home sales rebounding a little (2.1 per cent) in 2019 with home prices roughly keeping up with inflation (2.7 per cent). In Ontario, prices will likely climb a little faster (3.3 per cent) and in British Columbia, a bit more slowly.
Quebec, New Brunswick, Nova Scotia & Prince Edward Island can also expect modest price gains, while Saskatchewan and Newfoundland Labrador will experience a small dipping. The forecast for Alberta was stable, although that predated the recent oil price plunge.
The big banks expect interest rates to continue to rise between 2.25 per cent & 2.75 per cent by the end of 2019. Todd Schlanger, senior investment strategist at Vanguard Investments Canada says the Canadian economy will likely continue to grow in 2019, albeit at a slower pace than in 2018.
Rather than a housing collapse, a more likely scenario is one in which home prices stagnate as household incomes slowly catch up. Another factor that might help keep the market stable is that rents are sky-high. This could help sustain the demand from homebuyers.
Home buyers should be patient, and not count on price gains to make up for negative cash flow. And home sellers should be realistic and not fixate on “old peak prices” as they usually end up having to “chase the market down” watching their asking price gradually fall. If you are keen on selling, you have to be ahead of the market and possibly anticipate future prices declines.
Edenshaw Developments presents Tanu Condos to Mississauga’s prestigious Port Credit neighbourhood. This tower will rise 15-storeys and will house 204 luxurious suites. Warm tones and engineered brickwork envelope the tower while sprawling glass windows create light fill spaces in every suite.
Located at Lakeshore and Hurontario at 21 Park St E, these suites offer outstanding floor plans from 1, 2 and 3 Bedroom Suites. With options for 3 bedrooms, it will be an ideal luxury condo lifestyle for empty nesters and retirees looking for space and convenience with everything they needed within walking distance.
For Pricing and Floor Plans contact your Sutton Realty Systems agent today: