Blog - The Storey Team : Toronto Real Estate

The Storey Team : Toronto Real Estate

The Well Condos - By Tridel

20 April 2019
Tom Storey

Bordering Front, Spadina, and Wellington, this astounding mixture of retail, commercial, condominiums and rentals in downtown Toronto will host approximately 10,000 people on a daily basis who live and work at The Well.


The Storey Report - March 2019

09 April 2019
Tom Storey

Now, when we look at individual asset classes starting in average price points, detached homes are sitting just under 1.3 million, and semi-detached are sitting at $1,087,000. This is relatively consistent with what we've seen over the last couple of months, but it's worth noting that if you're wondering how much your place is worth, gone up or down over the last year, you have to look at it in terms of micromarkets. This means that there are certain areas that are in incredibly high demand for freehold properties. And their property values may have gone up, while other areas in less demand have gone down. So definitely need to get very specific when you're talking about freehold assets.


2019 Spring Market Forecast

05 April 2019
Tom Storey

Today I want to give you an idea of what I thinks going to happen in the next three months of the year. Let's call it a Spring forecast video, not predictions, but forecasts of what we're seeing so far for the Toronto real estate market. First, I think something that needs to be addressed is that the federal budget came out last week. A lot of people seemed excited about it. I don't think much is going to change, especially for this market and a lot of the condos that sell in downtown Toronto.


The Toronto Condo Bubble - Real or Fake?

03 April 2019
Tom Storey

The Toronto condo market has gone up 64% in price over the past five years, but does that mean we're in a bubble? So let's do the quick math on that. 64% over five years means that each year the Toronto real estate market for Condos has gone up 12.8% meaning every month you've owned a Condo, you've gone up 1% in appreciated value over the past five years. So let's break it down even more. That means that every single month, if you owned a property worth $500,000 over the past five years, you've earned $5,000 a month on appreciation on your Toronto Condo. Now, it's clear to me why this is happening in our market.


Housing Affordability Study - RBC

28 March 2019
Tom Storey

Home ownership costs dipped almost everywhere in Canada in the fourth quarter of 2018. Nation-wide, the share of income needed to cover the costs of owning a home fell 0.7 percentage points to 51.9%.