Realty Coffee Talk

Affordable Housing, Mortgage Rates & Market Update || Realty Coffee Talk

Elections Municipal Provincial - long approval time. 100,000 immigrants are inducting in 2022. Ontario. Community housing impacts on the local property. Location is connected to amenities. Provincial government is responsible for social (affordable) housing with the help of Federal Government funding. We have very good transportation system. Administration cost is high 80-90 M / 100 M. Working with private sector / builder is an alternate. 

COVID 19 has affected shortage of labor / material. Cost of property has gone high. Shortage of inventory. Sellers market. It's good point to discuss with candidates. Councilors, Mayor. 

Car loan, family emergency difficulty. Variable rate is lower (cheap mortgage) than fix rate. If you are prepared for facing the fluctuation in interest rate increase then it's a good option.

Assets / Liability. Rise in interest rate are not expected. 1.2 % instead of 2.3 %. 

121,693 transactions average price $1 M 95419 In December $1,157,812

Jan 2021; 6,888 transactions

Jan 2022; 5,636 transactions -18.2 %

New listing 9,438 in Jan 2021

7,979 in Jan 2022 -15.5%

Active listing -44% 7396 compared to 4140

average price was 966,068 Now 1,242,793 +28.6%

December to Jan 8% increase

Listing from 24 to 13 -44.4 %

DOM from 33 to 18 -45.5 %

Detached $1,886,413

1,72143

Semi Detached $1,471,535 (416)

1,236,081 (905) area


Townhome $1,

1,080,284

Condo 760,643 (416)/ 720,532 (905)

Detached 19.2% Jan 2021 to Jan 2022 in (416) area and 30.4 % in (905) area

Semi Detached 22.1 % and 37.3 % 

Townhome 32.6% (416) and 35.5 % in (905) area.

Condo 21.7% (416) and 31.6% (905)

Profit sharing program. 

https://www.youtube.com/watch?v=t5NKhTZPmGY

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