Buy Rental Properties…like Now.
December 2015 seriously outperformed 2014 in terms of total sales volume. Total December sales were up a whopping 18.5% in 416 Toronto even though the total number of listings were way down. Days on market was also reduced by approximately 4 days for the average Toronto home but what has really surprised us was the improved performance of larger Condo spaces. We didn’t think that home buyers that were being priced out of their freehold dreams would go down the condo route, but they are.
Torontonians are becoming more and more comfortable with condo living (even those with young children). Even more important is that Buyers are now deciding to rent instead of Buy purely as a lifestyle decision not an affordability issue. Landlords have seen rents dramatically increase over the past 12 months because of this as these tenants demand higher quality spaces.
Check out our info-graphic below and get in touch if you need us to drill down into a specific area for you. Your area may be performing better (or worse) than these averages.
