Welcome to 2020, a new year and a new decade! Of all of the 2020 jokes told as January approached, I have to admit my favourite was naming December 30th “Ramones Day, because it was “20 20 24 hours to go…”, a fun spin on the opening lyrics to the classic “ I Wanna Be Sedated”. It also pinpoints my age into a pretty specific range of kids raised on 60’s and 70’s music. As this winter rolls on, and Spring approaches, I still feel like a kid, excited to skate at Nathan Philip’s Square or toboggan at Centennial Park. Except now I get to share these places with my own kids. This winter has also brought the strongest start to a New Year of real estate sales in a long, long time. As you’ll see in our Market Watch section below, activity is brisk, and inventory is low, leading us back to the bidding wars of 2015-2016. It’s a great time to sell, and for Buyers, it’s time to get off the fence and get into the market ahead of what is expected to be 2-3% growth per quarter.
In this edition of Smartmoves, we’ll cover Market activity in resale AND in rentals. Why? Hopefully, it points out the opportunity for our clients thinking of buying investment properties as a wealth-building vehicle. We’ll also explore a little known version of the First-Time Buyers program that adds incentives for families buying a home for a disabled relative. Finally, we’ll celebrate the growing trend of “Green” construction in Toronto by looking inside 1 York Street, and seeing how the project won awards in 2018 for sustainability. Enjoy the rest of your winter!
