13 Jun 2012

TD Bank: Prices for Toronto set to begin slow descent

Real estate prices in major Canadian cities such as Toronto and Vancouver have been high for some time, but they may begin a gradual descent soon, says TD Bank.

According to Moneyville.ca, TD Bank's latest report shows real estate prices for Toronto and Vancouver declining 15 percent, but it may be some time before that comes to fruition. TD Bank says the decline in prices will be very gradual and may take two to three years to complete. This is in stark contrast to real estate prices in many parts of the U.S., which recently saw a sudden 30 percent drop.

The bank's report shows the housing market for both cities is overpriced. However, low interest rates and a stable economy are keeping this housing bubble from "bursting," so to speak. Barring any major economic shocks, the prices will naturally begin to correct over a long period of time.

With prices beginning to decline, it may be a great time to move to Toronto. Those moving to the city should consider finding a self storage unit to help make their move easier. Affordable Toronto self storage rates make it easy for new homeowners to rent a unit and keep their stuff there until they're all settled in a new home.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

Be Sociable, Share!
Comment

Related Articles [3]

5 Tips To Help You Downsize To A Smaller Home

December 15th, 2015
Sometimes life events bring with them the need or desire to opt for a smaller living space. Unfortunately – though not always – this entails either getting rid or moving...

Toronto home sales jump in July

August 5th, 2013
The latest report from the Toronto Real Estate Board showed that home sales in the greater Toronto area were up 16 percent in July on a year-over-year comparison, marking...

Home prices on the rise in Toronto

July 25th, 2013
A recent report from Remax Ontario-Atlantic Canada indicated that home prices in a number of Toronto neighborhoods are averaging more than $1 million.According to the report,...

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.

Leave a Comment






Recent Posts Blog Categories Archives Subscribe to RSS Feeds
Essential SSL