A significant proportion of those planning to buy homes in the Greater Toronto Area this year are going for detached housing, according to a new report by the Toronto Residential Real Estate Board. The share of those seeking this type of property stood at 42% as of fall 2019. This was markedly lower than the […]
If I purchase a power of sale property, will I get a great deal? Let’s start by explaining “power of sale” in plain language: if I borrow money from a bank, and we agree in a contract that the property is my guarantee the money will be repaid, the bank can take possession of the […]
Variable rate mortgage holders are the big winners from the Big Six banks’ moves to match the Bank of Canada’s 50 point reduction to its trendsetting interest rate. According to rate comparison variable rate customers will see rates drop by half a per cent for interest cost savings of roughly $500 per year for every […]
Lower mortgage rates, lower home prices, and the rise in buyer confidence means a busy year ahead for realtors Thinking of buying a home? Well, 2020 could be your year! Real Estate experts across the country are optimistic this year will see an upswing in the market, and more first-time homebuyers will have the keys […]
Across downtown Toronto and beyond, there are remnants of history all throughout. Whether it’s a warehouse converted into lofts, or an old building torn down and replaced, the old makes way for the new one way or another. Some historic buildings see the wrecking ball, and others are preserved in a new design. Here are […]
It was a great, though not quite record-breaking year for the GTA new condo market. There were 25,097 new condo units sold across the region in 2019, the third highest annual total on record, according to data released this week by housing data consultants Urbanation. This total represents growth of 27 percent over the previous […]
According to the January National Rent Report from Rentals.ca and Bullpen Research & Consulting, the average monthly asking rent for Canada rose 4.3 per cent year over year at the end of December. Toronto, Montréal and Vancouver experienced significant rent increases in 2019 for all property types listed on Rentals.ca. Toronto’s rent saw a 9 […]
2019 was a record year for new condo sales in the Greater Toronto Area (GTA), growing 27% to an impressive total of 25,097 units sold, the third-highest year on record, according to Urbanation Inc.’s year-end condominium market report. The report, which was released Monday, revealed new condo activity surged in Q4-2019 with 8,044 units sold, […]
Zillow has announced partnerships with several homebuilders in the United States which will extend the reach of its Zillow Offers service. For buyers of new homes from selected builders, Zillow will offer to buy their existing home from them directly and enjoy an extended closing period between 7 days and 8 months so they can […]
The construction consortium working on a major expansion of Highway 401 from Mississauga to Milton has more than traffic and motorists to contend with. Part of the $640-million project also involves building wildlife crossing features at several locations and mitigating the impact of construction on four species at risk. “Three structures within the project limits […]
Plans to redevelop an LCBO location at King and Spadina in Downtown Toronto resurfaced last year, with renderings appearing for a 42-storey Great Gulf and Terracap-developed project known as Four Eleven King Condominiums, and designed by KPMB Architects and Quadrangle. In the months since this new plan appeared, planning for the project has progressed, most […]
There was an increase in the number of Canadian jobs in December with a net increase of 35,000 (0.2%). In the 12 months to December, there was a 1.7% increase in the number of jobs – a total of 320,000 – and this was mainly the result of a 1.9% increase in full-time jobs (283,000). […]
In less than five years, investment in Toronto’s condos will experience a significant upheaval as condo costs keep climbing and tenants veer ever closer to the brink. At present, the asset class is among the market’s most dominant: Condos currently account for fully 20% of Toronto’s rental housing. Moreover, as much as 30,000 new units […]
The usual suspects are at it again: Toronto and Vancouver led the country’s high-end market in both home prices and sales activity, according to the latest report from Sotheby’s International Realty Canada. The two largest top-tier real estate markets in Canada rallied at the end of 2019 after a slow start to the year, largely […]
Modest home-price growth in the nation’s largest 100 housing markets will continue throughout 2020, according to Veros Real Estate Solutions. Data from the latest VeroFORECAST projected that the appreciation rate for residential real estate would jump 3.9% in 2020, slightly up from the 3.7% rate predicted in the first three quarters of 2019. “VeroFORECAST reveals […]
A 26-storey condominium in Abbotsford, BC has been rocked by astronomical increases to its insurance premiums—a 780% increase from its rates last year. BFL, which insures the aforementioned Mahogany Tower, raised the property’s rates from $66,000 in 2019 to $588,000 in 2020. Mike Pauls, president of the building’s strata council, said that the increase will […]
The lack of housing supply, especially in the Greater Toronto Area, will aggravate Canadian home price growth this year, amid already acute pressure from investors and speculators. Coming off the heels of at least nine consecutive months of sales growth on a national level, it can been seen that the moderating effect of mortgage stress […]
This year, mortgage rates will most likely remain low and qualification will be easier, real estate information portal Zoocasa predicted. Much of the impetus for these developments could stem from renewed calls to give the B-20 mortgage stress test another look, given the policy’s moderating impact over the past two years. “In December, a letter […]
Housing affordability is a significant conversation that is taking place across the country, especially in high-density, urban cities. Even as the risk profile for Toronto and Vancouver housing markets have come down to “moderate” levels, the fact remains that the demand hasn’t gone away, and that means that prices are remaining out of reach for […]
It didn’t look like it was meant to be a banner year for Toronto’s new condo market as sluggish activity marred the early months of 2019. But after a spring awakening that was followed by a string of strong months for new condo sales, the year has now earned the distinction of one of the […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
300 Richmond St. W., #300, Toronto, ON M5V-1X2
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