9 Jun 2011

Home values may soon decline in Toronto

As more people move to Toronto and buy storage units to house some of their belongings, a new report is indicating that the homes they live in may decline in value.

According to BMO Capital Markets, the market may weaken in Toronto if mortgage rates rise and inflation occurs as economists expect.

“Given our outlook for a moderate increase in rates in the next two years, prices could soften or at least stabilize for a while [in Toronto],” said Sal Guatieri, senior economist at BMO Capital Markets. “A possible overhang of condos could aggravate the weakness. However, continued sturdy immigration, with one-third of the nation’s immigrants settling in the GTA last year, should help to cushion the blow.”

While this projection may be bad news for people who are selling their home, it’s good news for people who are considering moving to the city. But even if prices don’t decrease, the high cost of homes in the GTA doesn’t appear to be affecting home purchases, as the Toronto Real Estate Board reported sales increased 6 percent last month compared to May 2010.

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Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

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