Introduction: Understanding the Ontario Rental Market Crisis

In recent years, Canadian landlords, particularly in Ontario, have faced growing challenges that are making rental property ownership increasingly unprofitable. A recent BlogTO article highlights how rising operational costs, tenant-related damages, and slow eviction processes are driving many landlords to exit the market entirely.

Ontario’s rental market is now at a critical point where rental accommodation shortages and skyrocketing rents are becoming common. Below, we explore the major reasons why landlords in Ontario are losing money and the impact this trend has on the province’s housing market.

📉 1. Tenant Damages Leading to Costly Repairs

A major challenge faced by landlords is that many tenants leave their rental units in unlivable conditions after moving out. While Ontario’s Residential Tenancies Act (RTA) explicitly requires tenants to leave the property in the same condition as when they moved in (except for normal wear and tear), this is often ignored.

🔥 Key Issues:

• Severe Property Damage: Broken appliances, holes in walls, and damaged flooring are common occurrences.

• Expensive Repairs: Landlords are left with repair costs ranging from $5,000 to $20,000 per unit, making it difficult to prepare the unit for the next tenant.

• Low Recovery Rates: Even if landlords attempt to pursue damages through the Landlord and Tenant Board (LTB) or Small Claims Court, the process is lengthy and success rates are minimal.

📚 Supporting Data:
A CBC News article reports that many Ontario landlords have accused tenants of being “professional tenants” who manipulate the system, causing thousands of dollars in damages while avoiding eviction.

Additionally, a CTV News article highlights the case of an Ottawa landlord who was left with a hefty repair bill after a tenant trashed their rental property, further emphasizing the financial burden faced by property owners.

🕑 2. Non-Payment of Rent and Lengthy Eviction Processes

Non-payment of rent is another common issue that leaves landlords in Ontario facing significant financial losses. When tenants stop paying rent, landlords must go through the Landlord and Tenant Board (LTB) to secure an eviction. Unfortunately, due to backlogs at the LTB, this process can take 6 to 12 months or longer, leading to substantial income losses.

🚨 Why It’s a Problem:

• Delayed Evictions: Landlords lose significant rental income while waiting for hearings.

• Minimal Recovery of Unpaid Rent: Even after eviction, only 1 in 100,000 landlords successfully recover unpaid rent through enforcement actions.

📚 Additional Insight:
A CBC report highlights that landlords in Ontario face long delays before obtaining eviction orders, contributing to severe financial strain. Furthermore, a The Local article discusses how wait times at the LTB have worsened, leaving many landlords stuck with non-paying tenants for extended periods.

📈 3. High Interest Rates and Rising Mortgage Costs

High interest rates have significantly impacted the profitability of rental properties in Ontario. Over the past two years, the Bank of Canada raised interest rates to combat inflation, pushing mortgage rates to 5-7%. This dramatic increase in borrowing costs means that many landlords are now operating with negative cash flow, where mortgage payments exceed rental income.

📊 Impact on Landlords:

• Negative Cash Flow: Higher mortgage payments reduce profit margins or even create losses.

• Declining Investment Appeal: Many landlords have chosen to sell their properties due to diminishing returns.

📚 Market Insights:

• Bank of Canada Interest Rate Trends

• CMHC Housing Market Outlook (2025)

🏢 4. Lack of Private Sector Investment in Ontario's Rental Market

Ontario’s rental market is experiencing a lack of private sector investment, making it harder to meet increasing demand for rental properties. With high costs, low returns, and unfavorable regulations, developers and private investors are less willing to invest in new rental accommodations.

🔥 Contributing Factors:

• High Development Costs: Government policies and compliance measures add significantly to overall costs.

• Unfavorable Regulations: Ontario’s tenant-friendly laws discourage many potential investors from entering the market.

📚 Supporting Data:
According to CMHC's Fall 2024 Rental Market Report, new rental construction has slowed down in Ontario, contributing to housing shortages and higher rents.

📉 5. Impact on the Rental Market: Higher Rents and Housing Shortages

The combination of these challenges—tenant damages, non-payment of rent, high mortgage rates, and lack of private investment—has led to a severe shortage of rental accommodations in Ontario. As supply dwindles, rental prices have surged, making it more difficult for tenants to find affordable housing.

📚 Additional Insight:
A CBC News report highlights the struggles faced by Thunder Bay landlords due to backlogs at the LTB, further exacerbating the shortage of available rental properties.

⚡️ 6. Timely Evictions Can Benefit Both Landlords and Tenants

Timely evictions would prevent professional tenants from taking advantage of the system. Faster and easier access to recover lost rent and damage recovery would encourage more private investment, ultimately helping to reduce rents across Ontario. Moreover, with a more balanced system, tenants would not have to endure the painful screening process that many face today.

🎯 Why This Matters:

• Newcomers, part-time workers, and students are often rejected due to stringent screening requirements, forcing them to seek guarantors just to secure a rental unit.

• Balanced policies would make it easier for tenants with limited credit history or non-traditional employment to secure housing without unnecessary hurdles.

• Increased private investment in the rental market would create more affordable rental options for everyone, reducing pressure on tenants and landlords alike.

📚 Supporting Insight:
A CBC News article suggests that providing credit bureaus with access to LTB orders could hold non-paying tenants accountable while encouraging landlords to invest more confidently in rental properties.

💡 What Can Landlords Do to Protect Themselves?

To safeguard their investments and minimize losses, landlords can:

• Screen Tenants Thoroughly: Use background checks, credit reports, and references to ensure tenant reliability.

• Invest in Property Management Services: Professionals can handle tenant relations, maintenance, and compliance.

• Consider Rent Guarantee Programs: These programs provide financial protection against rent defaults.

• Stay Informed on Legal Changes: Regularly review updates to the Residential Tenancies Act and LTB processes to protect your interests.

🏚️ Case Spotlight: Hamilton Landlord Waits One Year for Eviction Approval

A recent case in Hamilton illustrates the extreme delays Ontario landlords face when trying to evict non-paying tenants. In March 2024, landlord Verica Grgic applied to the Landlord and Tenant Board (LTB) to evict a tenant for unpaid rent. After a full year of waiting, she was finally granted permission to change the locks. However, the interior of the rental property was left in such a deteriorated condition that she now says it will require a complete gut renovation.

📺 Watch the full CBC news video here: Inside a Hamilton rental property where it took 1 year to evict tenant

This story is one of many that underscore the growing LTB backlog crisis and its impact on private housing providers. Cases like this not only lead to financial devastation for landlords, but also contribute to Ontario’s rental housing shortage by discouraging investment in the sector.

🔄 April 2025 Update: Persistent Challenges at Ontario’s Landlord and Tenant Board

Despite efforts to address longstanding issues, Ontario's Landlord and Tenant Board (LTB) continues to face significant challenges that impact both landlords and tenants:​

1. Backlog Reduction Efforts and Ongoing Delays

The LTB has reported resolving over 100,000 cases in 2024, marking its highest annual resolution rate. However, the board also experienced a 31% increase in new applications, totaling approximately 84,000 in 2023. While urgent matters are now being heard within five to six weeks, and non-payment of rent applications (L1 and L9) within three months, other applications still face wait times of five to seven months. ​11STOREYS   Law Times

2. Digital-First Approach and Accessibility Concerns

The LTB's shift to a digital-first model, intended to streamline processes, has inadvertently introduced new challenges. Many tenants lack reliable internet access or digital literacy, hindering their ability to participate effectively in virtual hearings. Moreover, the absence of in-person hearings has led to a decline in mediated settlements, contributing to the persistent backlog. ​Tribunal Watch

3. Legislative Reforms and Stakeholder Recommendations

In response to these issues, the Toronto Regional Real Estate Board (TRREB) released a report titled "Breaking the Backlog," advocating for several reforms:​ Blue Anchor Property Management

• Reinstating in-person hearings as a default option.​  GlobeNewswire

• Enhancing technological infrastructure to ensure accessibility and reliability.​GlobeNewswire

• Implementing stricter timelines to ensure hearings and decisions occur before tenancy termination dates. ​GlobeNewswire

The Ontario government has acknowledged these recommendations, incorporating some into its Fall 2024 Red Tape Reduction package. This includes allowing the LTB to overlook minor errors in applications and facilitating the reassignment of cases when adjudicators are unavailable. ​STOREYS

4. Impact on Landlords and Tenants

The ongoing challenges at the LTB have tangible effects on both landlords and tenants. Landlords face financial strain due to prolonged non-payment of rent and delayed eviction processes. Tenants, especially those without legal representation or digital access, encounter barriers in asserting their rights and accessing timely resolutions. ​TRREB

📅 This blog will be updated as new developments emerge — stay tuned.

Discover your next investment with -

Sami Chowdhury

Broker

REMAX Realtron Realty Inc

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For personalized investment guidance, connect directly:

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Investment Opportunities Emerge as Toronto Real Estate Prices Adjust – February 2025 Market Insights

Toronto's February 2025 real estate market presents attractive investment conditions:

• Home sales dropped 27.4% year-over-year due to high interest rates (CBC Business).

• Average selling prices declined by 2.2%, with notable reductions:

  • Semi-detached homes down by 5.3%.

  • Condo apartments decreased by 4.7%.

• Active listings increased dramatically by 37.8%, enhancing property selection for investors.

Investment opportunities highlighted:

• Condo apartments and townhouses offer competitive pricing for potential long-term appreciation.

• Increased inventory allows greater flexibility in investment choices.

Important market considerations:

• Future interest rate decisions by the Bank of Canada will significantly influence market trends.

• Investors should monitor mortgage rates via Mortgage Professionals Canada.

Strategically timed investments could yield substantial benefits with an anticipated market recovery later in the year.

Explore diverse investment opportunities:

• Gas Stations

• Commercial Properties

• Residential Homes

• Hotels/Motels

• Pre-Construction Condos

Access the detailed February Market Watch report by TRREB here.

For investment advice and opportunities, contact Sami Chowdhury at samichy@torontobase.com or visit www.torontobased.com.

Spring is more than just a season of renewal—it’s the perfect opportunity to care for your biggest investment: your home. After a long, harsh Canadian winter, your property needs attention both inside and out. Here’s a detailed guide to help homeowners prepare for the warmer months with confidence.

🌦️ Exterior Maintenance

1. Inspect and Clean Gutters & Downspouts
   – Clear out leaves, twigs, and debris to prevent water overflow and foundation damage.
   – Ensure downspouts direct water away from the home.

2. Check the Roof for Winter Damage
   – Look for missing, cracked, or curling shingles.
   – Inspect flashing around vents, skylights, and chimneys.

3. Wash Windows and Screens
   – Remove winter grime with a vinegar solution.
   – Repair or replace torn window screens to let in fresh air without the bugs.

4. Power Wash Exterior Surfaces
   – Clean siding, walkways, decks, and driveways.
   – Inspect paint for peeling or wear; repaint or touch-up as needed.

5. Inspect Foundation and Exterior Walls
   – Look for cracks, signs of water pooling, or mildew near the base of your home.

6. Check the Condition of Fences and Gates
   – Tighten loose boards and repaint or seal to prevent rot.

🌱 Yard and Garden Prep

7. Rake and Aerate the Lawn
   – Remove dead grass and winter debris.
   – Apply fertilizer and seed any bare patches.

8. Clean and Test the Sprinkler System
   – Turn on the irrigation and check for leaks, broken heads, or low pressure.

9. Trim Trees and Shrubs
   – Prune dead branches that could damage your home in a storm.
   – Encourage healthy growth and shape overgrown plants.

🧰 Mechanical & Structural Checks

10. Service the HVAC System
    – Replace filters, clean vents, and schedule a professional tune-up.
    – This improves air quality and lowers energy bills.

11. Inspect the Water Heater
    – Look for signs of rust, leakage, or sediment build-up.
    – Flush the tank if necessary.

12. Test Sump Pump and Backup System
    – Pour water into the sump pit to ensure it activates properly.
    – Essential before spring rains arrive.

🔐 Interior Upkeep and Safety

13. Test Smoke & Carbon Monoxide Detectors
    – Replace batteries and ensure alarms are fully operational.

14. Declutter & Deep Clean Common Areas
    – Clean behind appliances, under furniture, and inside cabinets.
    – Wash curtains, flip mattresses, and organize closets.

15. Check Attic & Basement for Moisture or Mold
    – Look for damp insulation, leaks, or pests.
    – Address early signs of mildew before they spread.

🌟 Bonus Tip:
Schedule a professional home energy audit—you may discover simple upgrades (like sealing drafts or adding insulation) that lower utility bills year-round!

📌 Final Thought

Spring maintenance might seem like a lot, but these small efforts go a long way in preventing costly repairs later. Taking the time to walk through this list ensures your home is safe, efficient, and ready to enjoy all season long.

Tax Season 2025: Essential Tips for Canadians

Tax season is here! Whether you're filing early to maximize your refund or making sure you don’t miss out on valuable deductions, understanding the latest tax updates can save you money and stress. Here’s everything you need to know for the 2025 tax-filing season, including important deadlines, new tax changes, and smart filing tips.

 Key Tax Deadlines for 2025

Mark your calendar with these important dates:

• February 24, 2025 – The Canada Revenue Agency (CRA) starts accepting tax returns.
• April 30, 2025 – Filing deadline for most individuals and final date to pay any taxes owed.
• June 15, 2025 – Deadline for self-employed individuals and their spouses (but taxes owing must still be paid by April 30).

 More details on tax deadlines

 Top Tax Tips to Save Money & Avoid Hassles

1️⃣ File Early & Stay Organized

The earlier you file, the sooner you get your refund! Gather all your tax slips (T4s, RRSP contributions, investment income statements, and medical receipts) in one place. If you file online, CRA’s Auto-Fill My Return can automatically pull much of your information.

 How to make tax filing easier

2️⃣ Maximize Your Deductions & Credits

Don't leave money on the table! Here are some key deductions and credits you may qualify for:

✅ Basic Personal Amount (BPA) – Increased to $15,705, meaning Canadians earning up to this amount won’t owe federal taxes.
✅ Medical Expenses – Claim eligible health-related costs like prescriptions, dental care, and travel for medical treatment.
✅ Home Accessibility Tax Credit – Seniors and those with disabilities can claim up to $20,000 for home modifications.
✅ Multigenerational Home Renovation Tax Credit (MHRTC) – Get $7,500 if you're building a secondary unit for a family member.
✅ Pension Income Splitting – Seniors can split eligible pension income with a spouse to reduce overall taxes.

 Tax tips for seniors 65+

3️⃣ Watch Out for New Tax Changes

Several major tax updates could impact your return:

 Capital Gains Tax Changes – Starting January 1, 2026, capital gains over $250,000 annually will be taxed at two-thirds instead of one-half.
 Home Buyers’ Plan (HBP) Expansion – First-time homebuyers can now withdraw up to $60,000 from their RRSP, up from $35,000.
 Alternative Minimum Tax (AMT) Updates – High-income earners may see changes in how their taxes are calculated.

 7 Biggest Tax Changes in 2025

4️⃣ Use the Right Tools & Resources

To make tax filing easier, take advantage of CRA-approved tax software and online services:

 CRA My Account – Track tax balances, benefits, and direct deposit refunds.
 Tax Software – Use tools like TurboTax or Wealthsimple Tax to simplify filing.
 Free Tax Clinics – If you have a modest income, you may qualify for free filing assistance.

 Find free tax clinics and CRA services

5️⃣ Beware of Tax Scams

The CRA will never demand payment via Bitcoin, e-transfer, or gift cards. If you receive a suspicious call or email, verify through CRA’s official website before providing any personal information.

 How to protect yourself from tax fraud

 Make Tax Season Stress-Free!

By filing early, keeping track of deductions, and using CRA’s online tools, you can make tax season smooth and hassle-free. Need help? Consider working with a tax professional or using online resources to maximize your return.

Understanding Canada’s New Mortgage Rules and Interest Rate Cuts: Impact on Buyers, Prices, and the Real Estate Market

The Canadian housing market is at a pivotal moment with significant changes reshaping its dynamics. Recent interest rate cuts by the Bank of Canada (BoC) and the introduction of new mortgage rules aim to ease affordability challenges and stimulate economic growth. But what do these changes mean for buyers, sellers, and housing prices? Let’s dive in.

Bank of Canada’s Interest Rate Cuts

The BoC has cut its benchmark interest rate for the fifth consecutive time, bringing it down to 3.25%, a notable drop from 5% a year ago. This move makes borrowing more affordable, with the central bank signaling further rate reductions may come in 2025, though at a slower pace.

Effects on Borrowers

1. Lower Borrowing Costs: Variable-rate mortgage holders will see reduced monthly payments, making homeownership more accessible.
2. Fixed vs. Variable Rates: Fixed-rate mortgages remain stable, but with rate cuts on the horizon, variable rates could offer more savings in the short term.
3. Refinancing Opportunities: Homeowners with existing mortgages may find it advantageous to refinance under the new rates, reducing their monthly financial burden.

For more details on how interest rates affect borrowing, visit Bank of Canada’s monetary policy overview.

New Mortgage Rules

As of December 15, 2024, Canada’s new mortgage regulations are designed to help buyers, particularly first-time homeowners. Here’s a breakdown:

1. Expanded Mortgage Insurance: Buyers can now qualify for insured mortgages on homes valued up to $1.5 million, up from the previous cap of $1 million. This lowers the upfront down payment requirement significantly.
2. 30-Year Amortizations: First-time buyers and purchasers of new builds can now extend their mortgage payments over 30 years, reducing monthly costs.
3. No Stress Test for Renewals: Borrowers switching lenders at renewal are no longer required to pass a stress test, simplifying the process.

These updates aim to ease financial barriers for buyers but may also increase household debt. For more insights, check the Office of the Superintendent of Financial Institutions (OSFI) updates.

Impact on the Housing Market

1. On Buyers

• Pros: Lower rates and relaxed mortgage rules make it easier for first-time buyers to enter the market. Extended amortizations reduce monthly payments, offering relief to those with tight budgets.
• Cons: Longer mortgage terms mean paying more interest over time, and rising competition could push prices higher in already tight markets.

2. On Prices

• Increased Demand: With borrowing becoming cheaper, more buyers are entering the market, intensifying competition. This is especially true in urban centers like the GTA, where November 2024 saw a 40% increase in sales year-over-year.
• Regional Variances: High-demand areas such as Toronto and Vancouver may experience the most price growth, while smaller markets could see more modest increases.

3. On Sellers

Sellers in competitive markets stand to benefit significantly. Increased buyer activity and higher demand for properties in the $1–$1.5 million range could drive quicker sales and multiple offers.

For detailed regional statistics, visit the Toronto Regional Real Estate Board (TRREB) Market Watch.

Economic and Policy Considerations

Positive Effects

• Stimulating Market Activity: Lower interest rates and accessible mortgages encourage both buying and selling, helping stabilize the market.
• Affordability Measures: Government programs such as the First Home Savings Account (FHSA) and land transfer tax rebates further assist first-time buyers.

Challenges

• Limited Inventory: Supply remains constrained, particularly in major cities, which could dampen the benefits of increased affordability.
• Potential Risks: Encouraging buyers to take on larger loans could lead to financial stress, especially if economic conditions change unexpectedly.

Looking Ahead to 2025

As the BoC signals a more gradual approach to rate reductions, 2025 is expected to bring moderate growth in sales and prices. Experts predict a 2–4% increase in both metrics by mid-year, driven by lower borrowing costs and supportive policies. However, affordability gains could erode as prices rise, underscoring the need for long-term solutions to address housing supply.

For predictions on rate changes, visit TD Economics’ interest rate forecast.

Final Thoughts

The recent rate cuts and new mortgage rules are reshaping Canada’s housing landscape. While these measures provide opportunities for buyers and sellers, they also highlight the importance of careful financial planning and market awareness. Whether you’re buying, selling, or investing, staying informed and seeking professional advice is crucial to navigating these changes successfully.

About the Author
Sami Chowdhury, Broker at RE/MAX Realtron Realty Inc., brings over 12 years of experience in the Greater Toronto Area real estate market.
 Phone: 647-725-0606
 Email: samichy@torontobase.com
 Website: www.torontobased.ca

If you’re looking to buy, sell, or invest, let’s connect and explore your options in this evolving market!

A Surprise 50 basis point interest rate cut by BOC

Author: Sami Chowdhury
Date: October 25, 2024

The recent decision by the Bank of Canada (BoC) to reduce its key interest rate by 50 basis points (0.5%) has significant implications for the real estate market and the broader Canadian economy. This move, coming as a relief to many Canadians, marks a shift aimed at fostering economic growth and managing inflation. Let’s take a closer look at what this rate cut means for homebuyers, sellers, and real estate professionals alike.

Why the Rate Cut Matters

The Bank of Canada’s decision to lower interest rates is largely aimed at addressing inflation concerns while supporting economic stability. Lower rates can make borrowing more affordable, which has both direct and indirect impacts on the housing market. Bank of Canada Governor Tiff Macklem reassured Canadians that this measure should ease the financial strain many are currently feeling, especially as costs have risen across various sectors.

Impact on Mortgage Rates

One of the most immediate effects of the interest rate cut is on mortgage rates. With lower interest rates, Canadian banks and lending institutions are likely to adjust their mortgage offerings, reducing rates for both variable and fixed-rate mortgages. This shift could make mortgages more affordable for prospective homebuyers, offering lower monthly payments and potentially increasing the purchasing power of first-time buyers and investors alike.

For homeowners with variable-rate mortgages, this is welcome news, as they may see a reduction in their monthly mortgage payments. Additionally, those looking to refinance could benefit from more attractive rates, making it an ideal time to evaluate mortgage options. However, it’s crucial for borrowers to consider their long-term goals and evaluate whether refinancing aligns with their financial plans.

Potential Boost in Housing Demand

A rate cut can often stimulate housing demand, as buyers are more incentivized to enter the market with lower financing costs. This could lead to increased activity across Canada’s real estate markets, from major cities to smaller communities. Buyers who may have been hesitant due to high borrowing costs might now consider purchasing, potentially boosting competition for desirable properties.

However, real estate experts note that while lower rates can drive demand, supply constraints in many regions could limit available options, keeping prices steady or even pushing them higher in competitive markets. For those in real estate, understanding these dynamics will be key to advising clients effectively during this period of transition.

Sellers May Benefit from Increased Buyer Interest

For homeowners looking to sell, the interest rate cut may increase buyer interest in their properties. With potentially more qualified buyers entering the market, sellers could benefit from shorter listing times and competitive offers. However, this trend may vary depending on the specific market conditions in each region, as supply constraints and buyer demand will differ across Canada.

Broader Economic Considerations

While the interest rate cut brings positive news for many, it’s essential to recognize the broader economic context. The Bank of Canada’s move is intended to stabilize the economy in a time of uncertainty, signaling that further adjustments may be on the horizon depending on inflation trends and economic data.

Additionally, while lower interest rates can stimulate borrowing and spending, they are part of a larger strategy to support Canadians through ongoing economic challenges. Governor Macklem emphasized the need for cautious optimism, as the central bank continues to balance inflation control with economic growth.

What’s Next?

The Bank of Canada’s recent rate cut underscores the importance of staying informed and adaptable in a rapidly changing real estate landscape. For potential homebuyers, it could be a great opportunity to enter the market, while homeowners may want to explore refinancing options. Sellers could find themselves in a more favorable market as buyer interest rises.

As economic factors continue to evolve, so will the strategies of real estate professionals in advising clients. Staying on top of rate changes and economic signals will be key to navigating the impacts of the BoC’s policy decisions.

Final Thoughts

The Bank of Canada’s interest rate cut brings relief and opportunity, particularly for the real estate market. Whether you’re buying, selling, or simply monitoring the market, understanding these shifts can help you make informed decisions. As the Canadian economy adjusts, this rate cut could be a pivotal moment for the real estate sector, fostering opportunities for growth and investment.

Experience Luxury Living in Scarborough: Welcome to 105 Dowswell Drive

Your journey in the quest for the perfect home, navigating through a myriad of options, can often be a thrilling experience. It demands diligence, an eye for detail, and a readiness to embrace potential. Every so often, a unique gem surfaces that not just fulfills your checklist, but surpasses it, offering more than just a house - a home. We're thrilled to introduce you to 105 Dowswell Drive, a standout property located in the vibrant heart of Scarborough, Ontario.

Unlock a World of Opportunities

This elegantly renovated home is a unique opportunity for first-time homebuyers and experienced investors alike. Whether you're looking to establish roots or add a valuable asset to your real estate portfolio, 105 Dowswell Drive meets all your needs.

The house presents a generous layout with four bedrooms on the main floor and an additional two bedrooms in the basement, which includes its own separate entrance. This feature provides flexibility for various living arrangements and the possibility of an income-generating suite.

With three washrooms and a comprehensive renovation that includes new appliances, this property extends beyond just a dwelling place; it's a sanctuary where you can truly feel at home.

Embrace the Outdoors

Situated on a rare 50 x 150 lot, this property offers an expansive backyard complete with a covered patio - an ideal setting for family gatherings, summer BBQs, or tranquil evenings under the stars. A detached garage adds extra storage space or could serve as a workshop for your hobbies.

Prime Location for Ultimate Convenience

Just minutes away from the University of Toronto’s Scarborough campus, Centennial College, Scarborough Town Centre, and a local shopping plaza, the home's location provides easy access to educational institutions, shopping, and everyday amenities. With a Walmart Supercenter and a medical center & pharmacy in close proximity, your daily necessities are conveniently within reach.

You're never far from entertainment with a local Cineplex, Toronto Zoo, and the Rouge Park recreation area and trails nearby. The property's location is also future proofed with the upcoming McCowan Subway and Light Rail, ensuring enhanced connectivity. For families, Burrows Hall Public School, Burrows Hall Library, and Community Center are just a short walk away.

A Solid Investment

Within the dynamic real estate market of the Greater Toronto Area (GTA), 105 Dowswell Drive stands out as a promising investment. With its unique lot size and extensive renovations, this property offers a rare value proposition in Scarborough, an area recognized for its steady capital appreciation.

In Conclusion

At 105 Dowswell Drive, you're not just acquiring a property; you're investing in a lifestyle. You're becoming part of a community rich with exceptional amenities and a home that can be customized to your dreams.

In real estate, timing is key. Now could be the perfect moment to consider this outstanding property as your new home or investment. Don't miss out on this opportunity - schedule a viewing today!

To learn more about this property, check out the

 virtual tour

 get a more detailed view on our website:

and the YouTube walkthrough: https://www.youtube.com/watch?v=DjtdyTpLhB8  

Prepared by.

Sami Chowdhury

Toronto East Real Estate Thrives in May 2023: A Comprehensive Market Overview

In the Toronto East Region, the real estate landscape for May 2023 was buzzing with high activity and robust demand. The dynamic nature of the market is depicted by a range of housing types - from detached and semi-detached homes to condos, townhouses, and co-ops. Here's a snapshot of how each fared in May 2023 and on a year-to-date basis.

In May 2023, a total of 757 home transactions took place, representing a staggering dollar volume of approximately $838.36 million. On average, homes were selling for $1,107,477, with a median price slightly lower at $1,090,000. With 1,244 fresh listings coming to the market and 832 active listings, buyers had an ample array of choices. Properties were generally sold 11% above the listing price and stayed on the market for an average of 12 days.

When we delve into the specifics’, detached homes were in high demand with 330 transactions totaling about $460.3 million. The average price for these homes stood at a sturdy $1,394,863, and properties were typically on the market for 10 days.

As we look at the 2023 year-to-date figures, the real estate vigor remains unwavering. There were 2,644 property transactions with a hefty dollar volume of around $2.75 billion. The average property price was $1,040,968, and homes typically stayed on the market for 15 days.

Detached homes, which seem to be the favorite, recorded 1,120 transactions, constituting a dollar volume of roughly $1.51 billion. These homes were sold for an average price of $1,348,315, and on average, it took 12 days for these properties to change hands.

The May 2023 snapshot of the Toronto East Region real estate market portrays a healthy and active market, favoring sellers, with most properties selling above the listing price. The quick turnover rate reaffirms the strong demand for homes in the region. However, it's worth noting that there were no transactions for detached condos and co-ownership apartments in May. Moreover, co-op apartments and detached condos tended to sell slightly below the listing price, indicating a softer demand for these property types.

Stay tuned for more updates and insights into the Toronto East Region's real estate market, where opportunities abound for both buyers and sellers!

Data Source: TRREB Market Watch, Click Here to see the full Report

Bank of Canada’s (BoC) latest interest rate hike and the Impact on the Real Estate Market This Spring/Summer

The Bank of Canada (BoC) has recently implemented its second rate increase of the year, taking the overnight rate up by 0.25% to a total of 4.75%. This move has been largely influenced by the persistently high inflation rate. This announcement is particularly noteworthy for those with variable-rate mortgages and individuals looking to secure a mortgage, as it directly affects them.

BoC had previously committed to maintaining rates as long as inflation showed a favorable trend. However, the recent economic developments didn't align with this projection. Surprisingly, both consumer spending and inflation in April, along with the Q1 economic growth, outpaced expectations.

This spring has witnessed an influx of potential buyers who were previously holding off. This surge in demand, however, has not been met with an equal increase in inventory across many major markets. For instance, the Toronto Regional Real Estate Board reported a total of 15,194 new home listings in the previous month, which, while being 3,830 more than April 2023, didn't suffice to uphold the months of supply. As a result, the region's months of supply have decreased to 2.2 months, down from 2.3 in both March and April 2023.

Check out a more detailed analysis of the Greater Toronto Area Real Estate Market in May 2023 here. Additionally, you can also view the full TRREB Market Watch Report here.

The Greater Toronto Area Real Estate Market: A Closer Look at May 2023

May 2023 brought encouraging news to real estate enthusiasts in the Greater Toronto Area (GTA) as the housing market experienced a significant improvement. Home sales shot up by 24.7% compared to May 2022, signaling robust demand for ownership housing in the region. However, this high demand was not met with an equally high supply, with new listings witnessing a decrease of 18.7% over the same period.

This mismatch between the growing demand and shrinking supply triggered a competitive environment among homebuyers. As a result, the average selling price was pushed to nearly $1.2 million, reflecting the fervent demand in the market.

On a month-over-month basis, May 2023 observed an uptick of 5.2% in home sales compared to April 2023. Meanwhile, the MLS Home Price Index (HPI) composite benchmark decreased by 6.9% year-over-year but presented an encouraging 3.2% hike on a seasonally adjusted monthly basis.

It's worth noting that while the average selling price saw a modest decrease of 1.2% from May 2022 to May 2023, the seasonally adjusted comparison revealed a rise of 3.5% in the average selling price compared to April 2023. Furthermore, the number of active listings saw a year-over-year decrease of 23.1%.

Let's delve a bit deeper into the nuances of the report:

Total Sales:

May 2023 witnessed a surge in the total number of home sales, going up by 24.7% to 9,012 sales compared to 7,226 in May 2022. Detached homes led the pack with the most sales (4,049), followed by condo apartments (2,568), townhouses (1,524), and semi-detached homes (787).

Year-Over-Year Sales Change: The change in sales from the previous year varied by property type. Condo apartments stole the show with the highest growth rate in both 416 and 905 areas, recording an overall YoY growth of 39.3%. Detached homes followed suit with a healthy growth rate of 21.8%, with townhouses not too far behind at 22.5%. Semi-detached homes, however, experienced mixed fortunes, with a decline in the 416 area (-8.9%) and an increase in the 905 area (15.7%), leading to a modest overall growth of 5.4%.

Average Price: The average price across all homes for May 2023 stood at $1,196,101, a slight decrease of 1.2% compared to May 2022. Detached homes commanded the highest average price ($1,556,566), trailed by semi-detached homes ($1,198,185), townhouses ($1,003,152), and condo apartments ($748,483).

Year-Over-Year Price Change: The changes in prices YoY also varied by property type and location. In the 416 area, all types saw a decrease in average prices. However, in the 905 area, detached homes and townhouses experienced a slight increase in average prices, while semi-detached homes and condo apartments saw a decrease.

Sales-to-New-Listings Ratio: This ratio acts as a barometer of market conditions, with a higher percentage indicating a seller's market (greater demand than supply). In May 2023, this ratio stood at 59%, marking a significant increase from 39% in May 2022, suggesting a tighter market with increased competition among buyers.

New Listings and Active Listings: The report underscores a decrease in new listings and active listings, marking a -18.7% and -23.1% change respectively. This drop indicates a tightening supply in the GTA housing market, potentially heating up competition further.

In conclusion, May 2023 painted a bright picture for the GTA housing market with increased total sales and a tightened market, despite the slight decrease in average prices. With new listings and active listings on the decline, the supply shortage appears to be an emerging concern. As we move forward, it will be interesting to see how these trends shape the market dynamics. Stay tuned for further updates.

Data Source: TRREB Market Watch, Click Here to see the full Report.