Press - The Storey Team : Toronto Real Estate

The Storey Team : Toronto Real Estate

TV and Video

Tom speaks with Todd van der Heyden at CTV about how the new mortgage stress tests are having a major effect on Peak Millennials. Purchasing power is down, and many are looking to their parents for financial support.

Ask a Realtor! Tom teamed up with The Financial Post to answer questions from first time home buyers across Canada!

2018 is off to a hot start! How will the Toronto market react to new mortgage rules? Those impacted will lose between 17-20% purchasing power.
We stage all our listing! In this video we teamed up with the financial post to show a full transformation of one of our listings! To learn how about our staging process click here

How can you climb up the property ladder in such a hot market? Tom speaks with Global News to talk about how starting small and building equity is a great place to start!
The BOC raised the key interest rate for the third time in 8 Months (Now 1.25%) Tom speaks with Nathan Downer at CP24 about the overall impact this may have.

Newspaper and Online Articles

"My advice is start small," said Tom Storey, a sales rep with Royal LePage Signature Realty in Toronto.

"Get that condo, start paying it down. If the appreciation keeps going at the rate we've been having, this gives you the opportunity to trade up," he told HuffPost Canada. Read Full Article ->

“That might buy something elsewhere in Canada but it makes Vancouver and Toronto basically completely unaffordable,” said Tom Storey, a realtor with Royal LePage who deals primarily with first time homebuyers. “And for an average couple it won’t buy much. They’ll probably have to go into the suburbs.” Read Full Article ->

Their reduced buying power is causing some Toronto-area buyers to reconsider re-sale homes in favour of new construction homes because the 20 per cent downpayment is staggered so they have more time to come up with the money, said Royal LePage sales representative Tom Storey. Read Full Article ->

Tom Storey, a Royal LePage real estate agent in central Toronto, said he does not expect the rate increase to have a significant impact on slowing the pace of home sales in Toronto and Vancouver because there is so much more demand relative to available supply, even if some first-time buyers cannot get into the market. Read Full Article ->

The strong economic factors underlying the rate rise also apply to the Toronto area housing sector, said Tom Storey, sales representative for Royal LePage Signature Realty. “I know interest rates went up but they’re still historically low. Vacancies in Toronto are still under 1 per cent, the rental demand is off the charts,” he said. Read Full Article ->

"As affordability continues to wane in Ontario's largest markets, many purchasers have become increasingly inventive in their pursuit of homeownership," said Tom Storey, sales representative, Royal LePage Signature, The Storey Team in Toronto. "Having saved up a significant amount of money in an attempt to buy a home, many peak millennials have begun to purchase property outside of their markets in more affordable suburban areas, electing to rent them out in order to build enough equity to enter the province's more prominent areas." Read Full Article ->