While February may feel like it took place years ago, given the daily coronavirus updates the city, province, and country are providing, it was fewer than just four weeks ago. And it was still on fire from a real estate perspective. According to a new report from the Building Industry and Land Development Association (BILD), […]
To say the events of the past few months have had an unprecedented impact on how our society functions would be an understatement. As the threat of the COVID-19 global pandemic grows across Canada and all levels of government enact policies to stop community spread via social isolation, millions of Canadians in the non-essential workforce […]
Almost a year after two adjacent proposals on Eglinton west of Yonge in Midtown Toronto were integrated into a single plan, the proposed two-tower complex at 50 through 90 Eglinton Avenue West has been submitted for Site Plan Approval (SPA) to City staff. The proposal from developer Madison Group has advanced to this stage of […]
February was a stellar month for new condo sales in the populous region immediately west of Toronto. But with the COVID-19 pandemic disrupting every aspect of life in Canada, it is likely to be the last high-performing sales month for a while. Peel Region saw 545 new condo sales last month, according to new home […]
The Bank of Canada (BoC) has made another unscheduled rate cut, slashing its Overnight Lending Rate by 50 basis points from 0.75% to 0.25% – the lowest it has been since April 2009 – as further response to the COVID-19 pandemic and its impact on the Canadian economy. It is the third rate cut the […]
In an emergency announcement today, Canada’s central bank cut its market-shaping overnight rate by 50 basis points to 0.25 percent in response to the coronavirus pandemic’s dramatic impact on the Canadian economy and financial system. This move was the third rate cut in the span of a month and the second emergency announcement the Bank […]
It’s an uncertain time for many. Amid the coronavirus crisis, borders have shut, flights have been downed and workplaces around the world are learning to adapt to empty desks as employees work from home. This week was so different from the last, and as new information flows in every minute, businesses have their eyes fixed […]
Across from Roy Thomson Hall, one-bedroom suites at Theatre Park sold for $568,000 and $590,000 in June and July respectively. Months passed before a similar model – this 450-square-foot unit – was again available for sale and 140 potential buyers toured the property prior to the scheduled offer night early December. “I sold the exact […]
Finding a stable, affordable and comfortable place to live is what Torontonians are after, Toronto’s Deputy Mayor Ana Bailão tells Toronto Storeys. Bailão, who is also the city councillor of Ward 9, says “Housing affordability and affordable supply are the issues that concern Toronto residents the most.” And while Bailão says there isn’t a mandatory […]
Canada’s central bank has already taken forceful action this month to cut its influential overnight rate to support the country’s economy through the coronavirus pandemic. It moved on March 4th during one of its regularly scheduled announcements and again on March 13th in an emergency announcement to cut the rate by a cumulative full percentage […]
Following the Bank of Canada’s surprise announcement last week that it is lowering interest rates by 50 basis points to 0.75%, the country’s largest banks cut their prime lending rates to 2.95% from 3.45%. RBC Royal Bank, BMO Bank of Montreal, Toronto-Dominion Bank (TD Bank), Scotiabank, and CIBC slashed their prime rates – which underpins […]
Beginning today, the Bank of Canada is lowering its target for the overnight rate by 50 basis points to 0.75%. The Bank Rate is correspondingly 1 percent and the deposit rate is 0.50 percent. The unscheduled rate decision is the second in as many weeks. In a statement, the central bank stated this was “a […]
Torontonians struggling to make ends meet during the COVID-19 pandemic have gotten some respite for their housing concerns: last week, the province suspended evictions, and now, it looks like rental rates in the city are finally starting to drop. According to the latest monthly rental report from Rentals.ca, the average 1-bedroom apartment in Toronto has […]
A small town situated 60 kilometres north of Toronto along the shores of Lake Simcoe has aspirations of becoming the city of the future. Characterized by its rolling hills, farmland and cottages, Innisfil is a quiet municipality known to many Torontonians as a place they pass on their way to Muskoka. But with plans to […]
Landlords should support tenants who become unemployed as a result from the coronavirus outbreak, the City of Toronto said Tuesday. Mayor John Tory announced the City is taking action to help Toronto’s most vulnerable tenants impacted by the COVID-19 pandemic and, while it has no power to direct landlords, he said that all property owners […]
It’s all you hear on the news, it’s all you read in the papers, and it’s all you see on social media. The coronavirus is everywhere, and it’s safe to say that everyone is scared, both of the disease itself and the potential economic implications of the whole country going into a temporary quarantine. Echos […]
A proposal to redevelop the northeast corner of Avenue Road and Yorkville Avenue first appeared on UrbanToronto’s front page in 2012, and after another change to the project’s team, a new version of the proposal has appeared in a new rezoning application. Before we dive into what’s being proposed by developers First Capital and Greybrook […]
What is the real story of Covid-19? If you are a “News Junkie”, like me, and have been following the story of the virus Covid-19, including, cancellations of school, work, events and travel options. It is very hard to get pragmatic advice but today, I received an email with an interview with Dr Peter Nord, […]
Canada’s housing market is poised for a hot spring — with lower mortgage rates likely to offset any major drag from the coronavirus. While a reduced travel from China may crimp sales in Vancouver, and the potential for a recession could set the market back, the possibility of interest rate cuts from the Bank of […]
Despite a rocky couple of weeks, Canada’s real estate market continues to experience notable growth, with home sales up in February compared to the same time the year prior, according to a new report from the Canadian Real Estate Association (CREA). According to the report, which was released Monday, home sales recorded over the Canadian […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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