When the province deemed real estate an essential service due to the coronavirus, it was recommended that realtors stop doing open houses. Realtor Colleen Koehler said that when Ontario Premier Doug Ford kiboshed gatherings of five or more, that essentially put an end to open houses altogether. Koehler, head of the Kitchener-Waterloo Association of Realtors, […]
Mississauga currently requires condos to have one parking spot per studio unit; more for larger units. But as the city moves to a more transit-friendly, urban place, is it appropriate to keep up that ratio? In fact, some condo developers say many owners in the downtown already don’t want a parking space. Actually, developers and […]
The booming Greater Toronto Area has again taken top spot on the North American Crane Index, with the region hosting an astounding 27 per cent of the cranes counted in 14 of the continent’s largest and most active urban markets. The Q1 2020 report, compiled by international construction services firm Rider Levett Bucknall, presents a […]
Toronto-Dominion Bank’s CEO has expressed confidence that the domestic financial system and household purchasing power will regain valuable lost ground once the coronavirus threat recedes. Speaking to BNN Bloomberg earlier this week, Bharat Masrani stated that the rate of recovery in the post-outbreak environment will heavily depend on how fast things get back to normal. […]
With Ontario announcing the shut down of the industrial construction industry in the province on Friday, and alongside with it, many residential construction projects as well, pre-construction buyers suddenly have a few questions on their mind. Until April 2, all construction was considered an essential business and allowed to stay open after the province ordered […]
Aside from replenishing the national inventory, building new homes might also play a vital role in bringing the US economy back to health once the COVID-19 outbreak is contained. The National Association of Home Builders reported that building 1,000 average single-family homes creates 2,900 full-time jobs and generates approximately $110 million in taxes and fees, […]
The latest home sale figures released by the Toronto Regional Real Estate Board (TRREB) revealed a “clear break” in market activity in the GTA between the periods before and after the COVID-19 pandemic hit Ontario. According to TRREB, the overall March sales result was driven by the first two weeks of the month, which saw […]
Speaking from Queen’s Park on Friday afternoon, Ontario Premier Doug Ford announced a halt to all residential construction in the province. As of 11:59 p.m. on April 4, the only projects allowed to continue will be those single-family, semi-detached and townhouse properties which have secured either footing or above-grade structural permits. Renovations to residential properties […]
On April 1, Attom Data Solutions released its February 2020 U.S. Foreclosure Market Report. As the U.S. housing market was cruising along at breakneck speed prior to the COVID-19 virus landing on American shores, the numbers were predictably immaculate: only 48,004 properties in the nation had recorded foreclosure filings in February. It was the lowest […]
Home equity lines of credit (HELOCs) might prove highly valuable to households labouring under weaker purchasing power, according to finance columnist Dale Jackson. In a recent article for BNN Bloomberg, Jackson stated that the ongoing pandemic definitely qualifies as an emergency that necessitates borrowing from a HELOC, especially considering the severe economic impact of the […]
A Toronto real estate firm is offering residents of its properties $100 in UberEats gift cards or grocery gift cards to help support them and local businesses during the COVID-19 pandemic. In a letter to residents dated March 30, Shiplake Properties Ltd., which operates five rental apartment towers in Toronto, with currently 1,200 units, said […]
Last week, the Provincial Government ordered at-risk workplaces to close-down to prevent the spread of COVID-19. In a list of “essential workplaces” that can stay open during the corona virus pandemic, constructions sites are among the 74 businesses deemed as a priority. With families waiting to close on new properties, sales of existing homes, and […]
The GTA home market was up 211 per cent in February 2020 with 4,665 total new home sales — the highest number of new homes sold in February since 2002, according to, according to Altus Group, BILD’s official source for new home market intelligence. The number of sales also saw a 57 per cent increase […]
Canada’s spring house hunting season — typically the busiest time of the year for home transactions — will be effectively cancelled this year. The strict social distancing measures that are critical to the fight against COVID-19 will make it all but impossible to follow through with the activities that the conventional home sales process necessitates. […]
Despite a strong start to the spring housing market in the Greater Toronto Area (GTA) in February, evolving conditions around the COVID-19 pandemic have had a profound short term impact on housing activity in the region. Among a slew of measures being announced at all three levels of government – including a number of initiatives […]
The COVID-19 pandemic has disrupted every aspect of our lives and no industry has been left unaffected. It can be particularly challenging for those in the new home industry where buyers still value that personal connection and in-person experience before they sign on the dotted line. A house, after all, remains the biggest purchase most […]
If you were to make a list of groups that will never have a fan club, Ontario’s Landlord Tenant Board would likely be one of the first to get jotted down. Investors have long been calling for improvements to the LTB’s methods, particularly the Board’s slow and costly approach to resolving issues with problematic tenants. […]
Despite the uncertainties the COVID-19 outbreak is bringing to Canada’s economy, the commercial real estate sector is positioned to weather the effects of the pandemic, according to a market expert. Mark Paterson, vice president at Marcus & Millichap, said that activity in the commercial real estate sector is slated to grow despite the volatile times. […]
Everyone’s spring plans are up in the air at the moment, and it’s no different for Toronto’s luxury condominium market. The ongoing coronavirus pandemic has cast a long shadow over Canada’s real estate markets for 2020. Yet, despite all the economic uncertainty, sales for luxury condos in the GTA remained strong in the first 15 […]
Greater Toronto real estate buyers rushed into the market, even amongst pandemic warnings. Altus Group data shows new home sales more than doubled in February. The impact on prices was mixed, as new single-family homes continued to fall. Condo apartment prices rallied to a new all-time high. The gap between the two narrowed to the […]
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