TORONTO, June 16, 2011 – The number of sales and the average selling price reported by Greater Toronto REALTORS® were both up during the first 14 days of June 2011. Sales through the first two weeks of June amounted to 4,787 – up 16 per cent over the same period in 2010. The average selling price for these transactions, at $477,853, was up nine per cent.
“The spring has always been the busiest time in the resale market, but the results for May and the first two weeks of June represented a marked improvement over last year. Low mortgage rates have kept affordability in check and buyers have felt confident in paying for a home over the long term,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The number of new listings on the TorontoMLS® between June 1st and June 14th was down by eight per cent compared to 2010.
“Listings have been in short supply this year, while a lot of people have been looking to buy. The result has been enhanced competition between buyers and more upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Strong price growth will prompt more home owners to list as we move toward 2012.”
GTA REALTORS®, and the public, continue to look forward to the fulfillment of the election commitment, of Mayor Rob Ford and numerous City Councillors, to repeal the Toronto Land Transfer Tax.
It is clear that the public expects the Mayor and City Council to move forward with the commitment to repeal the Toronto Land Transfer Tax, and it is unlikely that they will forget about this.
This is a significant tax: it costs the average Toronto home buyer almost $6,500, and when added to the Provincial Land Transfer Tax, average Toronto homebuyers face almost $14,000 in land transfer taxes. REALTORS® look forward to working with the Mayor and City Council on a reasonable approach to deliver on this promise.
TREB has consistently opposed the Toronto Land Transfer Tax as an unfair tax that hurts Toronto's economy. TREB strongly believes that the commitment by Mayor Rob Ford, and numerous City Councillors, during and after the election campaign to repeal the Toronto Land Transfer Tax was, and is, sensible.
Recently, the City's Budget Chief has pointed out the budgetary challenges facing the City. REALTORS® believe that City Council is moving in the right direction by conducting a comprehensive review of City services; we also strongly believe that the commitment to repeal the Toronto Land Transfer Tax can, and should, move forward.
A recent public opinion poll conducted by Ipsos Public Affairs for TREB, found that 75 per cent of Torontonians support Toronto Mayor Rob Ford's commitment to repeal the Toronto Land Transfer Tax.
In light of the City's Budget Chief's recent comments, the poll contained interesting results. In particular, even when asked to consider the City's expected budget shortfall, the public's support for the repeal of the Toronto Land Transfer Tax remains very strong, with 68 per cent of Torontonians believing that the Mayor should follow-through on this commitment, despite the City's budget challenges.
The poll also found that the public is paying attention to this issue: a large number of Torontonians, 61 per cent, were previously aware that Mayor Ford has committed to repeal the Toronto Land Transfer Tax.
Royal Britannia is the exclusive enclave of townhome living in Mississauga. English style and sensibility meet in Streetsville in a private enclave of two and three story luxury townhomes. Royal Britannia enjoys a superior location off Britannia Road in an established and desirable family community. Just minutes from historic Streetsville and booming Erin Mills, Royal Britannia’s variety of townhomes with upgraded traditional English style elevations and tasteful regal interiors were well-received.
Address: 2290 Britannia Road West(Mississauga)
Builder Name: Branthaven Homes
Price: $389,990 to $397,990(Townhouses
Occupancy: August, 2011
Rêve, a new condominium community at Front & Portland. Set amidst Toronto's most irresistible selection of shopping, dining, nightlife, recreation and cultural attractions. A bold architectural statement that says as much about where you live as how you live. Most buyers at Rêve are young, first-time purchasers.Amenities were determined with them in mind and include a stylish party room and state-of-the-art fitness and wellness centre with yoga area, change rooms and sauna. The building also includes a meeting room, lounge, theatre and rooftop terrace.
Address: 560 Front St W (Toronto)
Builder Name: Tridel Price per Sq. ft: $534
Occupancy: June, 2011
Maintenance Fees: $0.52/sf
Ontario’s Clean Energy Benefit - Helping Families, Keeping Electricity Costs Down
Ontario's Long-Term Energy Plan is moving our province to clean sources of power while replacing coal plants that pollute the air we breathe. Upgrading and modernizing our energy infrastructure is helping to provide reliable power to our homes and businesses. Ontario’s plan is helping to keep costs down for consumers today, while still making vital investments to build a clean, modern and reliable electricity system using renewable sources of power – like wind and solar rather than dirty coal.
Building more clean energy is also creating thousands of jobs for Ontarians in a growing renewable energy industry, supplying the solar, wind, bio-energy and hydro-electric markets.
You will receive the Ontario Clean Energy Benefit on every bill for the next five years as our province continues to build our clean energy future. The Ontario Clean Energy Benefit applies to electricity charges incurred as of January 1, 2011.
For those who haven't yet received the Ontario Clean Energy Benefit, your local utility will ensure it is applied retroactively to January 1, 2011 on an upcoming bill.
Ontario families can expect stable electricity bills this summer and fall. Since last May, bills have remained flat – slightly decreasing 0.1% for Tiered customers and slightly increasing 0.3% for Time-of-Use customers – due to the new Ontario Clean Energy Benefit. It’s taking 10 per cent off monthly bills for families, farmers and small businesses.
Starting May 1st, families will also benefit from an extra 10 hours of electricity every week at the lowest rate. Time-of-Use off-peak period will now begin at 7 p.m. instead of 9 p.m., making it easier for families to take advantage of lower prices.
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