June 5, 2018
In recent months and years, there has been intervention in housing markets by all levels of government, through regulatory changes and taxation. Municipal politicians are once again asking for municipal land transfer tax (MLTT) powers. Specifically, York Region councillors announced they were demanding that Queen’s Park give them power to levy an MLTT.
REALTORS® are calling on all candidates running the election to announce they oppose this unfair tax grab. Election Day is fast approaching and REALTORS® are working to keep the dream of home ownership alive in our province. DRAR REALTORS® are contacting their local candidates running in the Ontario Election to tell them to say ‘NO’ to a second land transfer tax.
Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported 859 residential transactions in May 2018, down 7.6 per cent from the previous month. On a year-over-year basis, sales transactions are down 33 per cent. In Durham Region, the average selling price reached $597,485 in May 2018. In comparison, the average selling price was $609,813 the previous month.
“Durham Region continues to experience a balanced market and we lead the GTA with the most affordable housing.” Stated Roberts. “Durham has the most affordable single-family detached homes, single-family attached homes, townhouses and apartments according to the MLS® Home Price Index. Our Spring market was delayed due to weather, and we expect sales to pick up in June and July.”
There were 2,247 new listings in May 2018, compared to 1,908 in the previous month, buyers are benefitting from more choices in the Durham marketplace.
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