Ontario’s medium-sized cities are heading for a slowdown according to the latest assessment from the Conference Board of Canada, with home financing among the key reasons. It says that apart from Greater Sudbury and St. Catharines-Niagara there will be moderation in the economic growth of the province’s medium-sized cities. The 16-city report shows that Oshawa […]
The big banks are reporting their quarterly earnings and the season has started well with record net income for Royal Bank of Canada. RBC reported record net income of $3,109 million for the third quarter ended July 31, 2018, up $313 million or 11% from the prior year with double-digit diluted EPS(1) growth of 14%. […]
Sales of newly built homes continued to fall in July as condo sales slumped and single-family sales remained subdued despite a jump. A report from the Building Industry and Land Development Association (BILD) shows that combined sales were down 44% year-over-year and were 55% below the 10-year average. Data from the Altus Group reveals sales […]
Understanding what a real-estate market is trending toward is vital, as it can help sellers establish what price they want to aim for, while buyers can better determine exactly how much they should spend on a property, especially if the market is looking to be getting hot. So what kinds of signs should you look for, […]
The financial year has started well for provincial lender ATB Financial with growth in loans and deposits delivering first quarter net income of $57.3 million. Although that figure is down from $63.1 million a year ago, this was largely due to larger higher loan loss provision. Loans were up 8.3 per cent over the same […]
The cost of living was higher in July as energy prices and interest rates added to household expenditure. Data from Statistics Canada show that the Consumer Price Index was up 3% on an annual basis following June’s 2.5% increase. The largest influence on the CPI was the continued rise in energy costs, up 14.7% year-over-year, […]
The US has dominated an annual ranking of the Top 500 most innovative cities in the world but one Canadian city has made the highly-competitive top 10. Tokyo tops the list, compiled annually since 2007 by Australian consultancy 2thinknow and based on 162 indicators. London, UK takes the second place. Then comes the first wave […]
Home resales in Canada were driven by the Greater Toronto Area in July with a 7.7% gain compared to 1.9% nationally. The GTA also saw a flattening of price growth which has been declining in recent months. RBC’s senior economist Robert Hogue says that the national benchmark price appreciated at a faster rate (2.1% y/y) […]
In the 32 years since Promenade Mall opened on Bathurst Street in Vaughan, north of Toronto’s city limit, both the retail landscape and demand for suburban land has changed. The 2017 departure of bankrupt anchor tenant Sears, which occupied almost 20% of the mall’s space, was a further blow to the mall’s already declining traffic. […]
The Walt Disney Company is bringing its magic north of the border to call Toronto its newest theme park home. A proposal to transform Toronto Islands into a global entertainment destination was announced this morning during a press conference held at Metro Toronto Convention Centre. The $6.5-billion attraction, known as “Toronto Disney Resort,” centres on […]
The future is looking positive for the commercial real estate market in the Greater Toronto Area. Members of the Toronto Real Estate Board’s Commercial Network reported a 3.6% rise in leasing in July, with approximately 2.1 million square feet of industrial, commercial/retail and office space leased through the MLS. Offices saw transactions rise by more […]
Colliers International Group has reported strong gains across its global real estate business for the second quarter 2018. The Toronto-headquartered firm’s revenue was up 14% year-over-year in the quarter ended June 30, 2018, to U$667.4 million with GAAP operating earnings of $45.6 million, up from $41.2 million a year earlier. In North America, revenue was […]
Ottawa’s home sales market remains strong with condo class properties the clear leader. Sales through the region’s MLS in July totalled 1,614, up 5.9% from the 1,524 a year earlier. Both years have exceeded the 5-year average of 1,501. Of July’s sales, 1,238 were residential class with 376 in the condo class. The year-over-year increase […]
Real estate is attracting more cash from institutional investors globally with those allocating at least U$1 billion growing in the past year. In 2017, 422 investors were part of real estate’s ‘Billion Dollar Club’ but in 2018 that has risen to 499, a 13% increase according to industry analysts Preqin. “The allocations of these investors […]
There was strong growth for resales in the Greater Toronto Area in July with sales up 18.6% year-over-year to 6,961 units. Toronto Real Estate Board says that the average sales price was up 4.8% to $782,189 including a moderate rise for detached home types. Preliminary seasonal adjustment shows a 6.6% rise in sales compared to […]
Regent Park in Toronto is undergoing one of the most ambitious and incredible revitalizations in the history of the city, and Daniels is playing a leading role. The latest high-rise condo in the community was just announced – we’d like to introduce you to Artworks Tower. Artworks Tower will rise 33 storeys and feature one- to three-bedroom […]
The short answer to your question is that, in most cases, real estate transaction deposits are not refundable. There’s no set amount for deposits, however. If the owner’s demand for a large deposit is a major sticking point, you could ask your real estate representative to try to negotiate a lower deposit amount with the […]
In a sign that the Toronto area real estate market is in recovery mode, year-over-year resale home prices and sales rose for a second consecutive month in July. Selling prices climbed 4.8 per cent to $782,129 last month, up from $745,971 in the same period last year, for all types of homes in the region, […]
Urbanation, the authority on condo market intelligence in the Greater Toronto Area, released its market results for the second quarter of 2018, reporting a drop in sales as developers respond to the buyer slowdown. In 2017, pre-sales hit a record high, so it’s not surprising the total number of condo units under construction in Q-2018 hit […]
There was a record high for new condo starts in the GTA in the second quarter of 2018 (7,981) while sales slumped. There was also a record high for condos under construction (63,905, 95% pre-sold) driven by a high level of pre-sales in 2017. However, a report from Urbanation says that pre-sales of new condos […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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