Height Increase Could Make Pinnacle One Yonge The Tallest Building in Canada

Toronto’s development industry has been sent into a frenzy with Pinnacle International’s submission of revised plans for its Pinnacle One Yonge development that would increase the height to 92 and 105 storeys. Designed by Hariri Pontarini Architects, the latest revisions see additional height and density requested for the phase 2 and 3 towers of the […]

Supply chain woes dissipating CIBC’s Tal tells ACEC forum

Count economist Benjamin Tal among those who do not see a housing crash in Canada in the near future. Tal, the deputy chief economist at CIBC, also suggested during a recent speech to engineers that the world’s producers are showing signs of coming to grips with the global supply chain problem, praised the Bank of […]

How can Canada solve its housing supply problem?

The news that Canada’s most populous provinces are likely to fall well short of affordable housing targets for 2030 came as little surprise to anyone who’s been following the country’s supply crisis in recent years – but finding a solution to that shortfall appears to be no easy task. That’s partly because of the problems […]

Development approval timelines in the Greater Toronto Area

As per Altus Group their recently completed study for BILD (Building Industry and Land Development Association). They have looked at various factors that might be contributing to housing affordability and supply issues. Here in the Greater Toronto Area. One area that they looked at was development approval timelines, which I thought developers must be aware […]

August 2022 Toronto Market Watch

High Borrowing Cost Impacting GTA Real Estate Market, Bank of Canada Increases Policy Interest Rates By 0.75%, Rent Soar By Double Digits Annual Increase It is noted that the August home sales is about 34% less compared to August 2021 but the average selling price still has a slight increase of 0.9% compared last year. […]

Can students get a mortgage in Canada?

For most post-secondary students, just getting by financially while passing classes is more than enough to occupy their time, however, everyone’s circumstances are different. There may be a time when you find yourself enrolled as a student and interested in buying a home. Maybe you are a mature student who chose to go back to […]

How to Avoid Paying Unnecessary HST

The federal government announced back in May that all assignments will be subject to a 13% HST tax in Ontario. This tax has also been applied, but we used to have specific workarounds – but as of May 7th, those workarounds no longer apply. What does this mean for you? You pay HST on the […]

Bank of Canada announces another big rate hike

The Bank of Canada has increased its benchmark rate by 0.75%, marking a fifth consecutive hike in its latest effort to get surging price growth under control. The central bank’s move is its first three-quarter-basis-point jump of 2022, bringing its trendsetting policy rate to 3.25% – a full three percentage points above the rock-bottom level […]

What is the cost of living in Toronto and why is it so high?

Toronto is known for many things as Canada’s biggest and most bustling city. Some of these are positive, like its diverse culture, rich history, and fan favourite sports teams. Others, not so much, like the incredibly high cost of living that Torontonians get to enjoy. Though the title for most expensive of all is often […]

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Are rate-battered REITs worth a second look?

Real estate investment trust shares have been under pressure this year due to rising interest rates, which could lead to more price declines. Nevertheless, publicly traded REITs still offer an enticing long-term investment opportunity, according to a Morningstar analyst. According to Kevin Brown, Morningstar’s senior equities analyst for REITs, the U.S. Real Estate Index, which […]

Buying vacant land in Ontario: What you need to know

These days, the word real estate is often synonymous with structures. Homes, apartments, shops, factories and the like are all often thought of as real estate – but this is really only half the picture. Underneath every building in real estate is the land it rests on, which is itself a valuable asset and an […]

CONDO SALES IN THE GTA WERE DOWN WHILE NEW LISTINGS REMAINED STEADY

TORONTO, ONTARIO, July 28, 2022 – The Greater Toronto Area (GTA) condominium apartment market followed a similar trend to the housing market as a whole in Q2 2022. With 5,687 sales, the Q2 result represented a decline of 35.2 per cent compared to Q2 2021. Over the same period, new listings remained flat at 14,316. […]

New GTA House Sales Down By 85% in June

New home sales in the Greater Toronto Area (GTA) continued to ease in June. According to a new report from the Building Industry and Land Development Association (BILD), the total new home sales of 1,694 units were down a notable 56% from June 2021 and 52% below the 10-year average. The data is generated by […]

Survey: Home prices remain on a strong growth trend

While interest rates have been on the rise for the past few months, the Canadian housing market continued to see price growth during the first six months of this year, according to the latest “Price Per Square Foot” survey by CENTURY 21 Canada. The increases were particularly notable in suburbs and smaller communities outside metropolitan […]

City of Toronto offers zero-interest loans, incentives to accelerate home retrofits and emissions reductions

Today, the City of Toronto announced the launch of an enhanced Home Energy Loan Program (HELP) that will offer zero-interest loans and incentives to help Toronto homeowners make their homes more energy-efficient and reduce the emissions contributing to climate change. The HELP program has been offering low-interest loans to homeowners since 2014. Currently, homes and […]

Revealed: The most and least expensive rental markets in Canada in July

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 […]