Royal York in The News

Royal York Property Management gives us 5 tips for when you are looking to rent in Toronto.

Major cities in Ontario have seen their average rent prices rise astronomically during the past year. As Toronto is still emerging from the COVID-19 pandemic and rising interest rates, renters are finding more competition that ever to secure a place to rent at an affordable rent. Combined with the influx
Real Estate News

Average Toronto Rent Now $525 More Expensive Than it Was a Year Ago

Toronto rent prices continued their months-long climb in July, now sitting $525 above where they were at the same time last year. A new report from and Bullpen Research & Consulting found that Toronto’s average rent price jumped a whopping 6.2% from June to July, to its new average of $2,667
Real Estate News

Canada’s Real Estate Bubble Went Into Hyperdrive Compared To G7 Peers: US Fed Data

The Canadian real estate bubble is kind of like a plane. People on it know it’s going fast but being inside of it means you don’t really appreciate the speed. On the outside though, the bubble looks like it just broke the sound barrier, especially in contrast to its G7
Real Estate News

Bank of Canada surprises with a 100 basis point interest rate hike

The Bank of Canada announced yet another interest rate hike at its meeting on Wednesday, accelerating the pace even further with a 100 basis point increase to their policy rate. This increase marks the largest rate increase in more than 20 years as the bank works to rein in inflation.
Real Estate News

BC’s Speculation Tax Has Added 20K Rental Units to the Market: Report

A new report from British Columbia’s Minister of Finance examines the effectiveness of the province’s speculation and vacancy tax (SVT).  And it turns out it’s working. The first tax of its kind implemented in Canada, the Speculation and Vacancy Tax Act (SVTA) was announced as part of the provincial Budget 2018 to