More Canadian banks are trimming mortgage rates following RBC’s move last week to hack 15 basis points off its five-year fixed rate. It was likely welcome news for homebuyers in Toronto, one of Canada’s priciest markets with an average home price of $750,180, according to the local real estate board. But could these discounted rates […]
A recent Ipsos survey painted a grim picture for many Canadians: apparently, nearly half are $200 or less from being too broke to pay the bills. The annual survey of more than 2,000 adults in Canada garnered dire headlines across the country, with nearly a third of respondents reporting they haven’t any money left over […]
The Canadian housing market’s performance has been even worse than TD expected, but there are multiple reasons one of Canada’s biggest banks doesn’t predict “a further sustained deterioration” — or worse — this year. “These [reasons] include another year of strong population growth, healthy labour market conditions and a more patient Bank of Canada,” writes […]
If you’re torn between investing in either RRSPs or real estate, don’t be. Calum Ross, a leverage wealth expert and VERICO broker with Mortgage Management Group—and author of The Real Estate Retirement Plan: An Investment and Lifestyle Solution for Canadians—says Canadians should invest in both. Ross will be discussing that and more at this year’s […]
(Mount) Pleasant Victory A recent court decision has put over 1200 acres of green space back into the hands of public ownership. This is a massive victory for residents, and if upheld on appeal, will help ensure these lands are properly managed and remain publically accessible. On January 3, Justice Sean Dunphy of Ontario’s Superior […]
It wasn’t so long ago that there was hardly any doubt that Canadians would be seeing higher mortgage rates this year. The Bank of Canada was widely expected to continue on its path of tightening monetary policy with continued increases to the overnight rate, which influences mortgages, particularly those with variable rates. While that may […]
Sales activity in Ontario’s existing-home market was slowing last year, but homebuilders weren’t saddled with high levels of new unsold dwellings, suggests a recent report from Central 1 credit union, which predicts the trend will continue. Across the province, there are 2,112 homes that — despite being finished — have not found buyers. However, that’s […]
Although much has been made about the decline in Canadian home sales and prices, one economist suggests it wasn’t as bad as it seems. “Remember: If the price of every house in the neighbourhood stays the same in a given year, but fewer of the expensive ones change hands in favour of the cheaper ones, […]
The leading property listings website for Chinese consumers has added a new channel focused on those who want to retire abroad. Juwai.com, which reaches more than 3 million Chinese consumers each month has launched its Retirement and Lifestyle Channel to provide information and real estate listings for retirement properties and communities internationally. “The countries that […]
On January 15, 2019, the Minister of Municipal Affairs posted proposed changes to the Provincial Growth Plan for the Greater Golden Horseshoe on the Environmental Bill of Rights Registry. The province is now receiving comments on the proposed changes for 45 days. Highlights of the changes include: · Permitting small additions to settlement areas (up […]
With seniors slated to comprise nearly a quarter of Canada’s population by 2030, real estate that caters to their needs is being touted as one of the most investment-friendly sectors this year. That’s in spite of a somewhat volatile interest rate environment that’s expected to carry through 2019, says Montreal-based Fred Blondeau, an analyst with […]
With a focus on security and performance, Oracle today announced the opening of a 700,000 square-foot data centre in Toronto to support customer demand in the region. Oracle has “leapfrogged” the competition when it comes the next-generation of cloud infrastructure, and its making good on the company’s promise to automate the tedious processes behind cloud […]
A national trend of dampening homes sales has not swept through the new condo segment of every large Canadian housing market. Activity is markedly down in a number of Canada’s major housing markets, but new condo sales in a handful of cities tracked by real estate consultancy Altus Group are actually surging. Specifically, new condo […]
In the not so distant past, Canadian contractors were building more single-family homes than multi-family homes, such as condo apartments. It’s a very different story today — so much so that an economist with one of Canada’s biggest banks recently said “no more detached homes for you” in a note to clients. In the note, […]
An executive with one of the biggest Canadian banks is questioning the judgement of the Bank of Canada’s governor over his comments about bankruptcies in the country. When Stephen Poloz announced this week that the central bank was maintaining the overnight rate at 1.75 percent, signalling mortgage rates should remain consistent for the time being, […]
Switzerland once again clinched the top spot in a global survey on fostering and attracting talent, in a top 10 list that includes Canada but not the U.S., and no Asian nations. The country retained its title for the fifth consecutive year on the World Talent Ranking report published by IMD Business School, a result […]
Condo apartment owners in the GTA saw higher returns on their investments in 2018 with rents setting a new record. Urbanation, which has been tracking rents in the market since 2010, says last year’s 9.3% increase was the largest it has seen, beating the previous year’s 8.3% growth and the 8-year-average of 4.1%. However, on […]
A decade ago, an office landlord might have gone into crisis mode upon learning a tenant as big as Canadian Imperial Bank of Commerce was preparing to flee to a new development down the street. But these days, perhaps nothing says more about demand for office space in downtown Toronto than QuadReal Property Group’s response […]
“There’s no doubt there has been huge growth in rent prices over the last couple of years, but [anecdotally speaking], it seems to have stabilized in Vancouver,” adding that he predicts the city will not see rental increases in 2019, as there is a lot more supply coming to the market. Andrew Scott, a senior […]
Buying a home is a major investment and the largest financial transaction most people will make in their lives. In addition to the purchase price, interest rates, and condo fees, homebuyers need to be aware of their closing costs. Expenses such as legal fees, land transfer taxes and insurance can add up, leading many homebuyers […]
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