Three of Canada’s major banks have decreased their prime lending rates by 15 basis points on the news that the Bank of Canada cut lending rates by 25 basis points to 0.75%. According to Ben Rabidoux, president of North Cove Advisors, went on record and said, “it’s not out of the realm of possibility that we will see a bank roll out a 2.5% five-year fixed offer, probably as early as March.”
For years REITs, pension funds and other institutional investors understand that student housing close to colleges and universities provide a consistent high performing investment. The proposition is simple, buy near a major post secondary institution and rent to students who require accommodations.
The average Toronto area re-sale home price rose 1.7 per cent year over year in January to $748,328, including single-family homes and condos, according to the Toronto Real Estate Board (TREB), which is forecasting a 4 per cent annual price increase for 2019.
Looking for a pad within walking distance of Toronto's subway system? Good call. You'll get around the city a lot cheaper and faster than you would by taking a car—you just may have to pay a bit more for your home upfront.