Canada’s real estate market slowed down considerably since COVID-19 measures were introduced across the country in March. With public health and safety top of mind, a number of real estate associations (like the Ontario Real Estate Association and BC Real Estate Association), put forth guidelines for realtors to prioritize virtual communications over any in-person meetings. […]
As the coronavirus pandemic continues and social distancing measures remain in place, recent sales data shows Toronto’s typically steadfast housing market continues to see a decline in activity, while home prices remain steady. The most recent data from the Toronto Regional Real Estate Board (TRREB) shows home sales declined by 69% in early April compared […]
A survey was conducted on April 6 by TransUnion on the current financial status of 1,035 Canadian adults in the wake of COVID-19. The results released showed that 68% are concerned over their ability to pay loans and bills, and that the average respondent will fall behind on monthly debts in 6.4 weeks. The survey […]
In a real estate environment of diminishing returns, like the one we’re experiencing in the GTA, it’s important that investors seek opportunities to diversify their portfolios. A reliably profitable way to achieve that diversification is through commercial investment. The commercial real estate market is short on supply and long on demand, especially in niche pockets […]
As a whole, national multi-family starts surged upward last month, according to Canada Mortgage and Housing Corporation. This came with one notable caveat, however. The study covering April “was conducted in each province with the exception of Quebec, following the introduction of pandemic measures in the province in late March,” CMHC said. The Quebec government […]
Despite pandemic pressures, demand for multi-family assets continues to persist in Ontario and British Columbia, according to Canada Mortgage and Housing Corporation. CMHC said that this helped compensate for the considerable slowdown in new home construction in March, which largely came about due to the economic impact of the COVID-19 pandemic. Not taking into account […]
Toronto remains likely to see elevated housing demand and prices this summer despite the COVID-19 market pause, RE/MAX predicted. Data from the Toronto Regional Real Estate Board indicated that the GTA suffered a 69% annual decline in home sales in the first 17 days of April. This also accompanied a 1.5% drop in the market’s […]
Located on the former Celestica Campus in East Toronto, One Crosstown Condos is the first residential phase of Aspen Ridge Homes’ 60-acre redevelopment project. The master-planned community will consist of 16 residential buildings, 13 blocks of townhomes, over five acres of new parks, a 100,000-square-foot community centre, and 700,000 square feet of office, retail, restaurants […]
After a good showing in April, the team at BMO Economics is confident that home construction across Canada won’t see a major disruption due to the COVID-19 pandemic. A report from the Canada Mortgage and Housing Corporation (CMHC) published late last week saw housing starts in April rise 11 percent over the same period last […]
It’s been weeks since thousands of purchase agreements were left in the lurch as three major Toronto projects developed by Cresford entered into receivership. In late March, PricewaterhouseCoopers (PwC) was appointed as the receiver and manager of assets for three of the luxury developer’s downtown projects: The Clover on Yonge, Halo Residences and 33 Yorkville. […]
Following a steady decline of COVID-19 cases across the province, the Ontario government will lift essential workplace restrictions on construction activity. Beginning on Tuesday, May 19th, all construction operations will resume as part of stage one of Ontario’s three-stage reopening plan, which was introduced by Premier Doug Ford in late April. Since mid-March, construction has […]
Homebuyers, real estate investors and industry commentators alike are grappling with the many ways the COVID-19 pandemic will impact Canada’s housing market and the path ahead as economic activity across the country cautiously resumes. One approach in the search for clues on both the short and long-term market implications of the pandemic’s disruptive effects is […]
Many people have pointed out that the COVID-19 pandemic has magnified several negative trends that were already underway, from income inequality to disfunction in care for seniors. And for renters and landlords, this may turn out to be the case as well. Over the past five years, the number of people who turned to renting […]
There is something unsettling about a quiet city. The empty streets, squares, and taped-off playgrounds that were full and vibrant only a few months ago now sit silent, stirring a seemingly endless series of questions about our recovery. At The Bentway, Toronto’s urban park built under an active downtown expressway, ambitious plans for Spring programming […]
Despite the uncertainty the COVID pandemic has caused for Toronto’s real estate market, residents are still interested in buying a new home in the coming months, according to a new survey from the Toronto Regional Real Estate Board (TRREB). To get a better understanding of how the COVID-19 pandemic has impacted consumers, TRREB contracted Ipsos […]
Home sales collapsed as anticipated in April as unprecedented job losses, economic volatility and strict physical distancing measures sapped the momentum behind what should have been Toronto’s busiest home buying stretch of the year. But as sales dropped 67 percent in April over the same time last year, home prices in the Toronto region still […]
With anxiety mounting throughout March as the economic impacts of the COVID-19 pandemic intensified, Canada’s central bank took swift action to slash interest rates at several points during the month. The cut announced by the Bank of Canada on March 27th meant that the overnight rate — which influences mortgage rates — had reached a […]
Canada’s home prices are still likely to see a 5%-10% annual gain by year-end, according to Altus Group chief economist Peter Norman. In an interview with The Financial Post, Norman said that despite the COVID-19 travel restrictions that have ground the entry of wealthy foreign homebuyers to a halt, housing will return to an upward […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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