Sales of new homes were down 21 percent in the Greater Toronto Area on a year-over-year comparison, according to the Toronto Real Estate Board. Despite the significant drop in sales, prices are still setting record gains, up 8.5 percent in September on a year-over-year comparison.
Any small business owners considering a real estate purchase in the high-priced market for office space should use self storage instead, to save on cost.
"While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers," Ann Hannah, Toronto Real Estate Board president told CBC News. "The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing.”
The condominium sector, which has been growing quickly of late, only saw gains of 6 percent during September 2012 compared to September 2011.
Jiffy offers businesses plenty of options for Toronto storage, whether one needs to store filing cabinets or office supplies. What's more, the company is currently holding a contest for a new iPad 3, which is a device that just about every business person could use to help improve productivity.