Greater Toronto home sales soared 37% in January / February compared with the same month a year ago as lower borrowing costs associated with fixed-rate mortgages lured some buyers back to the market. Bidding wars are also storming back in some choice Toronto GTA locations. Last month’s 4,223 home sales also marked a 22.9 per […]
A common problem today for would-be buyers of pre-construction homes or condominiums is when the property values have dropped, interest rates have jumped to make financing impossible, and reselling at a loss in a depressed market is not realistic. William’s predicament is not uncommon. Back in September, 2021, he signed an agreement to buy a […]
The housing market in Canada is currently grappling with a significant and unprecedented challenge – a widening gap between population growth and housing completions. This growing disparity has far-reaching implications, impacting economic, physical, and mental well-being, and posing a threat to Canada’s status as a prosperous and upwardly mobile society. Understanding the Housing Disparity Recent […]
Introduction: In Ontario, Canada, landlords have specific rights and obligations under the Residential Tenancies Act, 2006, and other relevant legislations. One of the main rights landlords have is the right to evict tenants under specific circumstances, which include the need for demolition or renovation, personal use of the property, illegal activities, nuisance, damage to premises, […]
With highly educated immigrants set to grow Canada’s population, one of the world’s largest asset management firms is looking to invest heavily in the country. Blackstone, the world’s largest alternative asset management company which oversees US$1 trillion in assets, is opening up an office in Canada as it commits to growing its presence and investments […]
GTA New Condo Prices by Month Average Greater Toronto Area New Condo Asking Prices Average GTA new condominium apartment asking prices per-square-foot are up 63% since 2018, but down 8% annually to just under $1,500 psf in August. The average end-selling price was $1.33 million for a new condo in the GTA in August, down […]
Are you considering selling your occupied rental property? Whether you’re a seasoned landlord or an accidental investor, parting ways with a rental property that currently has tenants can be a complex process. First and foremost, understanding the legal rights and obligations of both landlords and tenants is crucial. You must navigate the intricacies of existing […]
Toronto’s condo market continued to tighten in the second quarter of 2023, according to new data from the Toronto Regional Real Estate Board (TRREB), with sales up “strongly” year over year and new listings once again failing to keep pace. More specifically, TRREB reports that there were 6,844 total condominium apartment sales in the quarter, […]
The investment world often buzzes with the debate of real estate versus stocks. While both avenues have unique advantages, real estate investment stands out with distinct benefits that often outshine the stock market, especially in times of high inflation. Here are some reasons why your clients should be looking to put their money into real […]
Proximity to the burgeoning Greater Toronto Area (GTA) has led to an “explosion” of development land prices, with increases of 500 per cent – or more – in prime areas of Southwestern Ontario over the past few years. The sector most affected is industrial and employment lands in areas such as Hamilton and the Guelph-Kitchener-Waterloo-Cambridge […]
Building permits for multi-unit dwellings are on the rise in Ontario as the province continues to face pressure from increased demand and a critical shortage of housing. The total value of building permits in Canada increased by 8.6 per cent to $10.7 billion in February compared to January, indicating “robust intentions” for both residential and […]
The Bank of Canada finally hit pause on rate hikes in its latest announcement – and its language in the statement suggests its preference is to keep its benchmark rate unchanged for the remainder of the year, according to a prominent economist. Benjamin Tal (pictured), deputy chief economist at CIBC World Markets, told Canadian Mortgage […]
Sales remain low across the city’s housing market Toronto’s home price index rose by 1.1% in February over the previous month but continued to plummet on a yearly basis, with sales volumes across the city also remaining subdued. The Toronto Regional Real Estate Board (TRREB) revealed that the home price index (HP) sat at just […]
The Bank also gave a significant update on its plans for future rate announcements The Bank of Canada has announced a quarter-point hike to its benchmark policy rate, a move that marks its eighth consecutive rate increase and the first of 2023 – although it also indicated that it could be its last for some […]
Canadians faced an average annual rent increase of 10.9 per cent in 2022, with another five per cent increase forecast for 2023, according to year end data from Urbanation and Rentals.ca. Average monthly rent for December was up 12.2 per cent at $2,005 on a year-over-year basis, according to the groups’ monthly rental report. That […]
Just under 32,000 new condo units are slated for completion in the Greater Toronto Area (GTA) in 2023, according to real estate consulting firm Urbanation. Urbanation President Shaun Hildebrand tells STOREYS the figure may more realistically be in the ballpark of 25,000 to 30,000 units — he says the industry typically falls short of its […]
Recent news stories have highlighted the dangers of real-estate title fraud, which take place when fraudsters or scam artists steal ownership of a home in order to benefit from its value. Yesterday, CBC News reported on a Toronto family that was able to thwart an attempted scam where someone used fake identification to pose as […]
After hovering just above and then just below the $2,000-a-month mark in September and October, the national average rent for all property types bounced back over the threshold in November, rising 2.5 per cent to $2,024, according to the latest report by Rentals.ca and Urbanation Inc. While month-over-month rents increased only slightly, year-over-year rents were […]
A record number of new condo units will be completed in Toronto in 2023, just as skyrocketing mortgage rates make it harder for investors to close on their properties. Nearly 32,000 condos will hit the city and surrounding suburbs, according to data from condo research firm Urbanation Inc. That surpasses the previous high in 2020, […]
Toronto’s regional transit network could have looked much different in an alternate timeline, and one high school student from Hamilton has visualized how the GO Transit system may have looked in a reality where every single proposal played out as first envisioned. William (who prefers to be identified by first name only), a 16-year-old student […]
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