Canada’s housing market came roaring back in June, with country-wide home sales tracked by the Canadian Real Estate Association (CREA) returning to normal levels for the month. Toronto, Montreal and Vancouver led the way in sales gains for June, with transactions rising 83.8 percent, 75.1 percent and 60.3 percent, respectively, over May totals. And, according […]
A surprisingly strong showing from the Canadian housing market in June is leading economists to swiftly revise their forecasts as homebuyers returned to the market in larger than anticipated numbers. June market data published last week by the Canadian Real Estate Association (CREA) showed country-wide home sales up 63 percent over May and more than […]
As the COVID-19 curve continues to flatten across the country and more Canadians are returning to the housing market, a new report from Engel & Völkers reports a notable spike in demand for luxury real estate. The Canadian Luxury Real Estate brand released its Mid-Year 2020 Report on Wednesday, which says demand for luxury properties […]
The latest monthly statistics released by the Canadian Real Estate Association (CREA) for June highlighted that home sales and new listings rebounded to normal levels across Canada last month, following a period of historic lows this April and May due to the pandemic. Almost 1 million jobs were added back to the Canadian economy in […]
Furnished condo rental listings offered for standard 12-month leases in the Toronto region increased 52 percent in the second quarter of 2020 compared to the same time last year, according to new data released this week by Urbanation. There were 1,877 furnished units being offered across the GTA from April to June, making up 12 […]
Aggregate price of a home increased 9.1 per cent to $592,059 in the second quarter of 2020, survey finds Hamilton home prices are up nearly 10 per cent despite the COVID-19 pandemic, a new survey by Royal LePage has found. According to the Royal LePage House Price Survey released Thursday, the aggregate price of a […]
Buying a house can be overwhelming, especially in Canada’s largest city. But, depending on the area, it can actually be pretty attainable. If you’re looking for affordable housing in Toronto, the top five neighbourhoods with the cheapest average price in 2019 are the east-end areas of Rouge, Malvern, Bendale, Woburn, and Morningside, according to Moneysense. […]
Canadian cities are starting fewer new home building projects during the pandemic. Canada Mortgage and Housing Corporation (CMHC) data shows urban housing starts fell in Q2 2020. Despite a general slowdown, Toronto continued to push to a multi-year high for new projects started. Canadian Urban Housing Starts Fall Canada’s urban housing starts fell, as housing […]
Any chance of a drop in real estate prices associated with the COVID-19 pandemic already seems a thing of the past as the Toronto market came roaring back last month, according to the June sales figures provided by the Toronto Regional Real Estate Board. Sales are up an incredible 89 per cent, and not just […]
Toronto homebuyers appeared unfazed by the tumultuous spring and returned to the market in droves in June. There were 8,701 home sales in the Toronto region last month, according to data released today by the Toronto Regional Real Estate Board (TRREB). That’s up 89 percent from May’s total and down only 1.4 percent over June […]
In mid-March, Ontario declared a state of emergency due to COVID-19, and within three weeks, the Bank of Canada cut the overnight interest rate to a decade-low of 0.25%, and half a million homeowners deferred their mortgages. As expected, many buyers and sellers suspended their home searches and sales in response to public health and […]
New construction home sales in the Toronto region have hit the lowest level for May since 2000, down 81 per cent year over year, according to the home-building industry association. It’s not clear how long the disruption will continue, said David Wilkes, CEO of the Building Industry and Land Development Association (BILD). It took more […]
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Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based […]
A revised application submitted to the City brings changes to a proposed residential tower at 7 Labatt Avenue near Queen and River streets on the east side of Downtown Toronto. Developers TAS and Tricon resubmitted plans for the project in late 2019 with a new design by HOK, which has evolved in the months since. […]
You’ve checked listings, scouted your favorite neighborhoods, compared market prices and even picked the perfect shade of blue for your future kitchen. It’s safe to say you’re ready to become a homeowner. While purchasing your first home is one of the most exciting experiences you’ll ever have, it can also be extremely daunting, especially if […]
Owning approximately 3,500 acres of land at prime intersections in all provinces across the country, SmartCentres REIT is pursuing an aggressive expansion of its SmartLiving residential sub-brand, diversifying and optimizing its portfolio through redevelopment of its vast roster of properties. A $12.1 billion development program announced in 2019 is now underway, and will see 94 […]
Historical data from the late 1990s show a financial crisis is often followed with a steep increase in housing prices. If real estate grows in a similar manner as the 2000s, safe haven assets like gold and potentially Bitcoin may follow. The housing market is projected to see a steep sell-off in the second half […]
The site of Toronto’s famous Honest Ed’s department store is once again buzzing with activity. The beloved retailer closed its doors in 2017 to make way for Mirvish Village, a brand new purpose-built rental community by Westbank. Demolition of the building, including many of its iconic signs and marquee lights, took place through 2017 and […]
Toronto’s rental market saw average prices drop eight percent for two-bedrooms and four percent for one-bedrooms in April over March, according to data released earlier this month by Rentals.ca. While a single month doesn’t make a trend, market dynamics are not moving in a direction that favours property investors accustomed to strong monthly rent increases. […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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