Top 10 Real Estate News Stories in the Greater Toronto Area: 2022
#10. Federal government places a two year ban on foreign buyers of residential real estate.
#9. Post-Covid reverse migration of homebuyers relocating back to the City as employers encourage workers to return to downtown offices.
#8. Toronto passes a Vacant Home Tax of 1% effective January 2023
#7. Rooming Houses Legalized Across City of Toronto
#6. Volume of residential transactions decreases by double digits year over year as Buyers play Wait and See game.
#5. City legalizes Laneway Houses and Garden Suites
#4. Average Sale Price of all home types combined, down 7.2% year over year.
#3. Toronto Rental Market prices increase by almost 30% Year over Year
#2. City of Toronto Housing Plan aims to add 285,000 new homes in the next decade.
#1. Bank of Canada issues multiple policy rate increases resulting in Mortgage Rates more than doubling, significantly impacting lending costs for homebuyers.
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