There’s the old adage in the industry that buying a home is cheaper than renting long-term. Despite sky-high property prices in many Canadian cities, that still rings true according to research published today. In a study conducted on behalf of the company by economist and housing market analyst Will Dunning, new data shows that for […]
Canada’s housing supply fell short of demand even before COVID struck, a situation the pandemic brought into sharp relief. It’s not that home builders have been sitting idle. Housing starts over the past 12 months were the strongest since the mid-1970s, and the number of homes under construction is at an all-time high. The problem […]
Supply shortages are hitting single family starts, despite an overall rise in the number of homes being built and homebuilder sentiment improving for the first time in three months, two reports show. Builder sentiment rose in September by one point, according to the National Association of Home Builders/Wells Fargo Housing Market Index, amid a drop […]
Government support and payment deferrals played major roles in improving Canadians’ financial health, Equifax said Despite the end of payment deferral programs, Canadian mortgage delinquency rates declined from first-quarter highs in Q2, according to Equifax Canada. The 90+ day mortgage delinquency rate fell by 32.6% annually in Q2, while the rate for non-mortgage products dropped […]
Canada is in election mode, and all politicians have a plan to cool real estate markets. The thing is, most markets have begun to cool on their own. Canadian Real Estate Association (CREA) data shows a third of markets made a monthly pullback in July. The trend is likely to get stronger as well, as […]
Only one Toronto building makes Top 10; best investments are outside city limits For the first time in six months, Toronto condominiums no longer dominate Strata.ca’s list of properties with the highest appreciation rates. If the latest data is any indication, it appears that condos outside the city are offering much higher returns on investment. […]
Parsimonious rental data in the GTA makes tracking hotspots difficult, but stories about leasing bidding wars are commonplace and, according to the president of the Residential Construction Council of Ontario (RESCON), that’s a direct consequence of developments completing at a snail’s pace. “I’ve been hearing about bidding wars on rentals. You’ve got bidding wars on […]
The GTA real estate market has reached historic highs over the past year, with house prices in outer-lying cities seeing unprecedented surges in interest. As homebuyers searched for larger spaces in more suburban areas of the GTA during the pandemic, it drove demand and, consequently, home prices through the roof. A new report from RE/MAX […]
Rising inflation is a growing concern, but real estate investors can rest assured that their investments are, at least for the time being, inflation-proof. “Real estate has been protected from inflation since the 1970s but it won’t work if there’s anything extreme, if we go back to a 15% benchmark interest rate,” said Patrice Groleau, […]
A Toronto neighbourhood could see massive changes over the next few decades. More than 500 acres around Downsview Airport and Downsview Park are part of a planning process to develop residential and non-residential property called id8 Downsview. Just as neighbourhoods around #Downsview were built over time, this plan will likely take 30+ years to fully […]
Activity is heating up in rental housing markets across Canada, a troubling sign for affordability in cities with a chronic shortage of available units. For years before COVID-19, markets from Vancouver to Prince Edward Island suffered from an unrelenting mix of weak rental construction, raging demand and rising rates. Bidding wars were not uncommon, echoing […]
Condo prices in the Greater Toronto Area are on an upsurge, rising 44% since the 2017 housing peak, driven by the segment’s relative accessibility compared to other property types, recent data from tech-enabled brokerage Properly has revealed. “This past year, condo sales were hit the hardest by the pandemic,” said Anshul Ruparell, co-founder and chief […]
Benjamin Tal — CIBC’s Deputy Chief Economist — is seemingly everywhere. And earlier today, he was delivering an annual economic update at an online event hosted by Brattys LLP (our condo lawyers) in partnership with CIBC. Below are a handful of slides that I found interesting and that I tweeted out during the event. […]
Living within walking distance of a subway station is absolutely clutch for anyone in Toronto who needs to commute, but doesn’t have their own car and / or the patience to sit in gridlock traffic every afternoon at rush hour. Sure, the TTC isn’t perfect, but its subway system will generally take you farther across […]
A widely-watched Canadian home price index shot up nearly 11 percent annually in March as major markets across the country continue to experience exceptional levels of sales activity. Released earlier this week, the latest reading from the Teranet-National Bank House Price Index represented the strongest 12-month gain since September 2017 and marked the eighth-straight acceleration […]
Bader Elkhatib, the vice-president of CentreCourt, specializes in urban high-rises. Yet, the developer isn’t unnerved by pandemic Toronto’s quiet city streets or the trend that has seen more urbanites settling in the suburbs and the sticks. “Wait until the weather is 14 degrees, like it was two weeks ago. The downtown was bumping,” says Elkhatib. […]
Toronto had 125 cranes actively working on multiresidential towers in March, according to the RLB Crane Index, dwarfing the total of any other North American city. “The urban density story for our city has clearly not stalled during the pandemic,” Terry Olynyk, president and managing director of Multiplex in Canada, said in introducing a recent […]
New condo sales across the Toronto region shot up in February after a sluggish period in the winter. According to data published today by the Building Industry and Land Development Association (BILD), there were 1,623 new condos sold across the region last month, up from 665 sales in January and 857 in December. The region’s […]
If I told you I wanted $1 for something but you knew there was no way I was going to let you have it for less than $1.50, you might start to wonder why I had only asked for $1 in the first place. Now imagine that situation playing out multiple times a day, for […]
Like many areas of Toronto dominated by vast stretches of low-rise retail and industrial properties, Scarborough’s Golden Mile area is on the doorstep of transformation, with multi-tower communities proposed across various large sites along the Crosstown LRT, set to begin operating in 2022. Evolved from a 2016 proposal to redevelop the Golden Mile Shopping Centre […]
Maziar Moini, Broker - Home Leader Realty Inc.
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