Home sales rose Canada-wide for the sixth straight month in August, leading one of the country’s largest real estate industry groups to increase its 2019 sales forecast on the back of the sustained strong results. According to Canadian Real Estate Association (CREA) data and commentary released last week, the impacts of the new mortgage rules […]
After around a year of mostly weaker activity, housing starts accelerated in August, according to Canada Mortgage and Housing Corporation. The trend measure stood at 218,998 units last month, markedly larger than the 208,931 units in July 2019. “Higher trending single-detached starts in urban centres in July and August following roughly a year of declines […]
Paul D’Abruzzo took a tenant to the Landlord and Tenant Board for three months of unpaid rent on an investment property he owned in Whitby, and through mediation—his best option—ended up coughing up a fourth month of rent-free living. “My tenant sat there in mediation and said she can’t pay rent anymore, and after I […]
50 Scollard Autumn is the real estate industry’s second-busiest time of the year and the pre-construction condo market is replete with an interesting suite of amenities. And according to Barry Fenton, president and CEO of Lanterra Developments in Toronto, the city’s shrinking condo units make dynamic amenities all the more essential. “A lot of amenity […]
A double-digit percentage increase in the number of Greater Toronto Area houses sold last month shows the region’s property market is “quite fine,” according to analysts, as it rebounds from mortgage controls introduced last year that sidelined some buyers. Housing sales in the GTA rose 13.4 per cent in August compared with the same month […]
The number of Canadians receiving regular Employment Insurance (EI) benefits in June was 442,600, virtually unchanged from the previous month. Year-over-year, there were 21,300 fewer EI beneficiaries, a 4.3% reduction. Statistics Canada says that the month-over-month data shows an increase in EI beneficiaries in Quebec while there was a decrease in Alberta, Saskatchewan, Nova Scotia, […]
Avison Young has appointed five highly regarded finance and strategy professionals to its team as it continues its rapid expansion worldwide. The appointments include several thought leaders and comprise two promotions and three hires for newly created positions. Tom Morande becomes chief financial officer for North America. He joined the firm as a principal […]
Homeowners who want to be truly satisfied with their home should avoid comparing its size to that of their neighbours’ homes. A new study from Iowa State University has found that if their home is smaller than neighbouring homes, it often leads to dissatisfaction. The study was conducted by researchers led by Daniel Kuhlmann, assistant […]
The market for condo apartments remained strong in the Greater Toronto Area in the second quarter. Greater Toronto Realtors reported 7,038 sales of condo apartments through the Toronto Real Estate Board’s MLS in the three months, up 3.2% compared to a year earlier. New listings for the sector were down 3.5% year-over-year to 11,110; and […]
RENT OR BUY TORONTO 2019 With every passing year it seems that, for many, the dream of moving from renting to buying a home in Toronto slips farther and farther away. Many are posing the question, when will the Toronto real estate market crash in hopes of a price drop to get their foot in […]
It’s east versus west when it comes to the upper echelons of Canadian real estate. A new report from brokerage Sotheby’s International Realty Canada highlights the chasm separating the luxury segments of housing markets on either end of the country. Price and sales performance of top-tier residential properties in Toronto and Montreal provide a stark […]
Amid sustained high levels of demand, condos continued to be the fastest appreciating residential property type in the Greater Toronto Area, according to the latest Royal LePage House Price Survey. The region’s condo units enjoyed a 7.2% year-over-year increase during the second quarter of the year to reach $542,203. In comparison, growth in the other […]
It appears even developers of pricier, larger condos are conserving space by removing their ovens. A one-bedroom unit at 155 Yorkville Ave., a four-minute walk from the Royal Ontario Museum, boasts 610 square feet and is asking for $3,295 in rent in an ad on Realtor.ca. It includes a bedroom and bathtub, a swanky den […]
The annual BILD Awards celebrate the GTA’s hottest, new digs. Here are four properties prospective buyers should take a look at From soaring skyscrapers to low-key low-rises, the Building Industry and Land Development Association highlighted some of Toronto’s top properties at the 39th annual BILD Awards. The annual ceremony, held last month, honours achievements in […]
Toronto condo prices continue to level off amid tighter lending rules and a surge in new supply. The average price per square foot of a resale condo in Canada’s biggest city rose 3.3% to C$683 ($520) in the first quarter from the same period last year, the weakest gain since 2014, according to market-research firm […]
An annual ranking of the affordability of global cities for employees working abroad shows Canada has stayed stable. Mercer’s Cost of Living Survey finds that Canada’s major cities are relatively affordable while global peers have become more expensive for ex-pat workers. Vancouver remains the most expensive in Canada but slips three places from last year […]
If you ever find yourself wondering why there are so few little walk-up apartments in Toronto — of the kind that are absolutely commonplace all across Montreal — you can look to history. “In May 1912, the city declared a full-scale ban on apartment buildings in residential neighbourhoods,” writes Emma Abramowicz in an essay in […]
A plan to create a modern, high-tech city in Toronto will benefit from a C$1.3 billion (U$980 million) investment from Alphabet Inc. but the project has raised some questions from Waterfront Toronto. The parent of Google will invest in the project through its Sidewalk Labs subsidiary and aims to work with local partners to finance […]
The First-Time Home Buyer Incentive (the Incentive) helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. You need to have the minimum down payment to be eligible. You can then apply for a 5% or 10% shared equity mortgage with the Government of Canada. Your maximum qualifying income […]
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