Back in December 2018, the Bank of Canada held the key interest rate at 1.75%, following a weaker outlook for Canadian economic growth in 2019. With much of the emphasis on the energy sector and North American trade, the question for many of you is likely how will things play out for the real estate market?

In an interview with the Financial Post, David Rosenberg, Chief Economist for Gluskin Sheff & Associates said his big concern is that half of the mortgage debt in the household sector is going to refinance in 2019-2020 at much higher interest rates. Depending on how far the BoC key interest rate increases, this period of refinancing could impact the consumer activity and depress economic growth.

It’s January, and it’s time to set your sights on the year ahead. Whether you’re hoping to buy a condo in 2019, sell your family home, move up in square-footage, or downsize to a turnkey lifestyle, here are six tips from our Condo Pros to help you reach your real estate goals in 2019.

We say it a lot, but working with a professional real estate agent is a smart decision. Brendon Cowans, a Top Producer at Condos.ca, explains one of the greatest value adds of working with an agent, and it begins with asking the question why. Why are you buying or selling?

For many of you who read this blog, it might seem that the housing-affordability crisis is an issue isolated to Toronto and the GTA, but it’s affecting all of Ontario. High sale and rental prices across the province are making it difficult for people to afford the housing they need.

The Ontario government is developing a Housing Supply Action Plan, and they want your feedback on the issue. You can take the survey here until January 25, 2019. Whether you support the current provincial government or not, this issue is worth learning more about. The government has broken down the problem of increasing affordable housing in Ontario into five main areas of concern.

Listen up! The Ontario government has announced that all new dwellings, any additions to existing dwellings that are used as apartments, and any older units that were unoccupied as of November 15, 2018 will NOT be covered by rent control in Ontario. It’s a decision aimed at improving the housing crisis in Toronto by incentivizing developers to build more units. But what about the renters?

Anyone who is currently renting can rest easy. Whether your rental apartment is on a year lease or you’re renting month-to-month, rent control will continue to protect you. “The units in an existing residential building, where any part of the building was occupied on or before November 15, 2018, would be subject to rent control. However, if an addition is added to the building, and the new unit or units are completely within the new addition, those new units would be exempt from rent control.”* For rent controlled units, the landlord can raise rent only the annual capped amount, which is set at 1.8% for 2019.

As a Toronto condo landlord, you want property insurance for many reasons. Top of the list, you want liability coverage in case a tenant gets seriously injured on your property and sues you for the accident. Insurance for the building, appliance insurance, rental income insurance, and sewer backup insurance are also areas you may want covered. Depending on your insurance provider, you can often find a range of coverage tailored to your individual needs.

With the launch of Line 5 Condos, we are excited to see that condo developers are recognizing the changes in consumer lifestyle preferences and designing new projects to address the way people want to live today.

There has been rapid growth in real estate values in Toronto over the last two years, and condo buildings have become a necessary housing option for many urban dwellers. Housing is still a business at the end of the day, and some developers are more concerned with the payday than creating desirable spaces to live and grow and call home.