Although there have been signs pointing to a cooling housing market, Canada’s rental markets have never been hotter as the majority of metro areas went up in monthly value in July, according to the Zumper Canadian Rent Report. Looking into 23 of the most populous metros, Zumper.com found that 18 metro areas experienced a monthly […]
The breakneck pace of new home construction in the Toronto area continued in June, according to new data from the Canada Mortgage and Housing Corporation. But that could soon be coming to an end, according to some economists. “Long-term, I think the home construction market is going to remain strong, but the next six to […]
For first-time home buyers, it can feel intimidating when you want to try and buy a home. Beyond the work of seeing houses and facing competition in the market, you also simply need to have enough money saved to cover your down payment. Many first-time buyers are younger and haven’t had as much time to […]
The topic of housing supply isn’t front and centre of the affordability discussion like it was just a few months ago. Despite housing affordability in the first quarter posting its worst decline “in a generation,” according to recent data from National Bank of Canada, the public’s focus is now squarely on inflation, rising interest rates […]
You can get insurance for almost anything you own and often it is considered a very good idea to do so. Home insurance protects thousands every year from the financial cost of damage to their property and car insurance helps to cover the costs of unexpected auto collisions. If it’s an expensive replacement or repair, […]
The construction of office space is declining in Canada amidst runaway inflation increasing construction costs. A new report from Colliers Canada has found that although the number of under-construction offices is still very robust, with more than 15.7M sq. ft being built, that number is down from its earlier peak. The office space that is […]
A new report from the Canada Mortgage and Housing Corp. says the country’s housing stock would need to climb to over 22 million units by 2030 to achieve affordability for everyone living in Canada. The housing agency notes that two-thirds of the supply gap is found in Ontario and British Columbia, two markets that have […]
Developers could cancel the construction of approximately 5,000 new condominium units in Toronto in response to rising material and labour costs, an analysis conducted by the real estate research firm Urbanation has found. Urbanation President Shaun Hildebrand shared the results of the analysis with CP24 on Tuesday. He said building costs that are up approximately […]
These Are 10 of the World’s Least Affordable Housing Markets It’s become increasingly difficult for middle-class families to purchase a home over the last few years—and the global pandemic has only made things worse. According to Demographia’s 2022 Housing Affordability Report, the number of housing markets around the world deemed “severely unaffordable” increased by 60% […]
House prices are set to continue falling across Canada as a result of the current market cooldown, with the only question being by how much, according to a well-known economist. Benjamin Tal (pictured), deputy chief economist at CIBC World Markets, told Canadian Mortgage Professional that the decline in value was likely to be most evident […]
Survey Highlights Nearly half (47%) of urban Canadian Generation Z adults rank proximity to their workplace as a top priority for the location of their first home purchase; however, just 15% indicate that buying in or close to the downtown core is a priority. 40% plan to purchase their first home in a major city, […]
The Greater Toronto Area housing market is becoming more balanced as May home sales dropped 39 per cent from a year earlier and prices rose almost 10 per cent, the Toronto Regional Real Estate Board said Friday. The Ontario board found last month’s home sales totalled 7,283, down from 11,903 in May, 2021, and 7,989 […]
Canadian real estate is so bubbly a large bank sees prices soaring in a downturn. Scotiabank (BNS) reported earnings today, filing the bank’s macroeconomic forecasts. These forecast scenarios help to determine outlook, and include a base case, optimistic case, and two pessimistic ones. Even in the bank’s worst case scenario, they forecast home prices will […]
There’s some good news on Canada’s housing supply front; the country’s housing starts rose 8% in April. According to the Canadian Mortgage and Housing Corporation (CMHC), the trend in housing starts was 257,846 units in April, up from 253,226 in March, when they had declined slightly from the previous month. The trend measure is a […]
The annual pace of new home construction in April surpassed analysts’ expectations The annual pace of new home construction in Canada was up 8% in April compared with the previous month, the country’s national housing agency has revealed. Canada Mortgage and Housing Corporation (CMHC) said the seasonally adjusted annual rate of April housing starts […]
The news marks the latest stage in Canada’s housing market cooldown National home sales and prices fell across Canada in April as the country’s housing market continued to cool following two years of record-breaking activity, according to the Canadian Real Estate Association (CREA). Home resales were down 12.6% across the country from March to April, […]
Though the latest stats from April show the beginnings of what might be a downturn in the GTA real estate market at large, it seems that one housing type is still in huge demand, at least when looking at the first quarter of this year so far. While many stakeholders predict a cooling of prices […]
This article will appear in the forthcoming May issue of Investment Executive. Ottawa’s proposed new anti-flipping rule represents a significant change in real estate taxation, providing the Canada Revenue Agency (CRA) with clarity regarding when profits on a home sale are subject to full taxation and limiting access to the principal residence exemption (PRE). Under […]
A new home finance survey from the Bank of Montreal has found that, among other things, more Canadians are looking to buy in major city centres as business picks up once again at urban offices. The survey notes that interest in buying a home in a major city centre has risen 5% since last year. […]
Ontario’s provincial budget, released late this afternoon, was short on new housing measures but nevertheless earmarked $2B to build community infrastructure. The funds will be invested in the Ontario Community Infrastructure Fund over five years and will be deployed across 424 small, rural and north communities in the province, where old roads, bridges, water and […]
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