Housing prices all over the GTA have been skyrocketing throughout the past year, but it’s Oshawa that has come out as the frontrunner in the GTA’s condo market. A new report from Strata has found that property values in Oshawa have increased 48% over the past year. This is staggeringly higher than the increases seen […]
Real estate brokerage firm Redfin recently did an analysis of “mortgage-rate lock data” taken from the analytics firm Optimal Blue. A mortgage-rate lock is an agreement between a lender and a borrower guaranteeing a particular interest rate for a particular period of time. What’s potentially interesting about this data is that (1) approximately 80% of […]
Congratulations to everyone living along the downtown portion of Toronto’s waterfront, all 65,000 of you who, for decades, have been clumped together on the city’s official map of neighbourhoods as one ill-defined, enormous blob called “Waterfront Communities — The Island.” Big ups also to Liberty Village, Fort York, West Queen West, and all of […]
Home buying activity hit a record high in the Toronto region last month as 10,970 properties changed hands. February’s sales total represented a 52.5 percent increase over the same period last year, according to data published today by the Toronto Regional Real Estate Board (TRREB). While buyer interest in suburban single-family homes has dominated headlines […]
When it comes to purchasing a condo as a first-time home buyer or investor, there is a wide range of opportunities and benefits. However, when it comes to choosing whether or not to buy a pre-construction condo or a resale condo, things can get a little tricky. Either way, the condo market is thriving in […]
It’s no secret that the Toronto housing market is one of the most competitive real estate markets in Canada. In January 2021, statistics from the Canadian Real Estate Association (CREA), showed that home sales have set another all-time record, but statistics are also showing a lack of new listings. Since we’re just coming out of […]
It won’t happen overnight, but with Toronto condo sales clearly on the rebound, struggling condo prices could soon be following them upward before the end of the year. That’s the message from RBC Senior Economist Robert Hogue who, earlier this month, wrote that the Toronto condo market’s “relative affordability” may be boosting its appeal to […]
As we creep closer to the one-year anniversary of Canada’s first COVID-19 lockdowns, the country’s major rental markets continue to see prices fall as rental supply climbs and empowered renters negotiate with landlords. New figures released this week by rental site Padmapper suggest that February has been no exception, with rent prices for one-bedroom units […]
It’s still early in the year, but January 2021 is looking awfully similar to basically every month in the second half of 2020, at least as far as the country’s high-flying housing market is concerned. While we started sounding like a broken record a long time ago, Canadian homebuyers did it again last month, turning […]
A Canadian home price tracker known to be one of the most reliable measures of appreciation just recorded its highest annual increase since October 2017. The Teranet-National Bank Home Price Index rose 9.6 percent over the previous year in January, led by double-digit price increases in local markets including Ottawa-Gatineau, Halifax and Hamilton. Montreal and […]
Rock-bottom mortgage rates have been a major driver of red-hot home buying activity across Canada since the country emerged from the widespread lockdowns of spring 2020. Those rates are likely to stay near all-time lows for the first half of 2021 but an economist with Capital Economics predicts they will begin climbing later in the […]
By comparison, new listings dropped nationally by 2.9% y-o-y, with just 52,342 properties being added to the market last month. As such, the overall housing market was highly competitive for home buyers in January, as indicated by the sales-to-new-listings ratio (SNLR) of 70%. The SNLR is a measure of marketing competition during a defined […]
The COVID-19 pandemic is having an impact on the housing market with pent-up demand pushing Canadian home prices higher. Bindu Suri has details on Royal LePage’s new market survey forecast. The suburbs surrounding Toronto, Montreal and Vancouver’s are fueling an uptick in homes beginning construction and properties ready for occupancy, says Canada Mortgage and Housing […]
Canadian households saw net-worth make big gains over the past few decades. Using Statistics Canada (Stat Can) data from the recently released Survey of Financial Security (SFS), we can see how net-worth evolved for each age group from 1999 to 2019. Generally speaking, net-worth soared for most demographics. However, there are some notable exceptions, like […]
TREB) is unveiling its must-read Market Year in Review & Outlook 2021 Report and eagerly awaited digital digest containing TRREB’s annual market outlook, up-to-date Ipsos consumer polling results, the most recent Altus new home and commercial statistics, rental market trends, research on innovative approaches to bring on more housing supply and mortgage […]
Back in 2015, Toronto’s biggest issue was traffic congestion. Or, at least, that was how it seemed at City Hall, when city council approved a $919-million project to reconstruct one section of the Gardiner Expressway. Much has changed since then. Toronto is bigger, richer and more unequal. Housing affordability is the biggest issue in local […]
Ever since the housing market rally began in 2020’s second half, the number of Toronto region communities recording 20 percent-plus annual price gains in their detached home markets has been climbing each month. Of the 30 suburban cities and towns tracked by the Toronto Regional Real Estate Board (TRREB), 20 experienced detached home price increases […]
The appetite for homeownership in Canada has been strong to start the year thanks in large part to low interest rates, according to nesto, an online mortgage brokerage. A report from the firm showed that 60% of the brokerage’s users intended to purchase a new home last month, increasing from 48% in January 2020, but […]
Homebuyers were out in full force again in January, snapping up 6,928 homes across the Toronto region. And, according to a new forecast, this momentum out of the gate is expected to persist throughout the entire year. The Toronto Regional Real Estate Board (TRREB) released its 2021 Market Outlook this week, predicting that low interest […]
After a busier-than-usual December home buying season, purchasers across the Toronto region spent the first month of 2021 continuing their buying spree. January home sales were up over 50 percent compared to the same month last year. Robust buyer activity and tight supply in the low-rise market sent the overall average price of a Toronto […]
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