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Toronto Real Estate Home FinanceThe numbers are in for the first half of October from the Toronto Real Estate Board, and it looks like the heat of the market isn't just a flash in the pan: it's a continuing trend.

In a repeat of the numbers from August, this period also saw a sales increase of 21% over the same period last year. Granted, last year's October numbers were part of the six-month decline that the market experienced in late 2012 and early 2013 - but these numbers are also up by 13% over the 10-year sales average, which suggests that the market's strength is genuine and not a fluke. Prices are also up by 7.3% year over year, a further indicator of growth.

Why these numbers? It's the same pattern we've discussed before. Low-rise homes are a huge driver of growth, especially since, as TREB President Dianne Usher says, "the supply of ground-oriented listings remains constrained." This is "due in part to the additional land transfer tax and stricter lending guidelines" - she suggests, in fact, that sales growth could be even greater if the Toronto Land Transfer Tax were repealed, a position with which we agree.

Broader factors also influence the market's strength. There are lots of people with the means and the inclination to buy a home, due in part to the strong Canadian economy.Toronto's real estate is also popular with international buyers, who see it as a safe investment due to its strong showing andCanada's stability. 

Overall, TREB Senior Manager of Market Analysis Jason Mercer paints a happy picture for the market's immediate future: ""Price growth has been stronger in the second half of 2013, as sales growth has outstripped growth in listings.  There have been more buyers competing for available properties compared to the first half of the year, which has led to increased upward pressure on average selling prices."

The full TREB report is available here.

Nick Thompson

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Toronto Contemporary Luxury Real Estate As if there were ever any doubt: Toronto's iconic Wolf House has been chosen by luxury publication Asia Tatler Property as one of just six properties world-wide that showcases the best of contemporary architecture.

Asia Tatler Property, which publishes magazines in 7 different languages throughout Asia, is billed as ‘the world’s most desirable luxury real estate read by Asia’s most affluent audience’. It's one of the most important publications that speaks to this rapidly emerging market of wealthy and talented individuals who seek only the finest international properties for their exclusive portfolios. The Wolf House, a gem of forward-looking glass-and-steel architecture designed by the famed Barton Myers and situated in the exclusive Toronto enclave of Rosedale, is currently available for purchase by a discerning buyer.

The article, which is available in print and online here lists these international properties with incredible architectural significance and beauty. Read the article and then click on the names of the homes to find out more about each one.

1. The Wolf House, Toronto - architect Barton Myers

2. Rogers House, London - architect Richard Rogers

3. 16th, Paris - architect Robert Mallet-Stevens

4. The Borman Estate, Malibu - architect Frank Gehry

5. Casa Lily, Saint Tropez - architect Paul-Frederic Goux

6. Rua Riachuelo, Brazil - architect Marcio Kogan

If you are interested in finding out more about the Wolf House, or you would like to inquire about purchasing this iconic home in Toronto's most exclusive neighbourhood, please contact listing agents Donna and Nick Thompson.

Wolf House Family Room


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