Picture-perfect skies served as the backdrop to this week’s special event and launch of the residential condominium component at The Well by Tridel. Situated on the northwest corner of Front Street West and Spadina Avenue, The Well is a master-planned community now under construction that will transform the former Globe & Mail site with a […]
It doesn’t look like underlying demand for Toronto housing is relenting, as the city is the fastest growing in not just Canada but the US as well. Experts often talk about population growth as a fundamental driver of housing demand, and new analysis from Ryerson’s Centre for Urban Research and Land Development puts Toronto’s in […]
Following last month’s explosion in search and purchase requests from Toronto condo buyers, GTA new home and condo sales are up 120 % from April of 2018. According to Altus, high-rise condo sales are up 137% from April 2018, as well as low-rise sales, up 81%. Considering, April’s increases in both purchase requests and sales, […]
CHICAGO — Cabrini-Green, the Robert Taylor Homes: demolished years ago, Chicago’s most notorious projects continue to haunt the city, conjuring up the troubled legacy of postwar public housing in America. By the 1970s, Washington wanted out of the public housing business, politicians blaming the system’s ills on poor residents and tower-in-the-park-style architecture, channeling tax breaks […]
For many prospective homebuyers who want something brand new or need more time to save money, preconstruction condominiums present a tempting opportunity. But buying a preconstruction condo rather than an existing unit comes with risks, including the rare case of a builder scrapping the project entirely, and experts say there’s no way for buyers to […]
The new mortgage rules have redirected Toronto’s would-be low-rise home buyers to the condo market, driving up prices and, in the process, deterring condo investors from purchasing units renters desperately rely on. The B-20 mortgage rule stipulating stringent stress testing, even for insured mortgages, has drastically reduced purchasing power, and house hunters have reasoned affording […]
With soaring real estate prices within the City of Toronto, many are looking just outside of the city to buy property. And for commuters, being close to a GO Transit station ranges from added bonus to downright necessary. Real estate website Zoocasa collected the average 2018 sold prices for homes within a 2 km radius […]
It’s time to make a pact: no more avocado toast. And that’s just the first step to saving up enough dough to purchase a home in Toronto. According to new data from Zoocasa, buying a house in Toronto is only accessible to those within the top 10% income group, as the city’s houses have a […]
For the first time in more than three years, owning a home has become more affordable in Canada, according to a new report from one of the country’s biggest banks — and the trend is expected to continue. “Home ownership costs dipped almost everywhere in Canada in the fourth quarter of 2018,” reads RBC’s most […]
above its rapidly changing urban centre. There are 104 cranes set up in Toronto’s core, according to construction consultancy Rider Levett Bucknall’s latest Crane Index, which counts the presence of the lofty lifters in the 13 cities it has offices in around North America. Not only was that up from 97 in July and the […]
Experts see signs that mortgage interest rates in Canada may continue dropping this year. In a note sent to clients this morning, BMO Senior Economist Robert Kavcic points to the fact that five-year government bond yields have been declining, a key indicator for where five-year fixed mortgage rates are headed. “Five-year fixed mortgage rates tend […]
Experiment launched amid controversy about the risks of digital currencies The Ontario town of Innisfil will soon begin accepting digital currencies as payment for its property taxes, starting with Bitcoin. The town of 36,000 people is north of Toronto and south of Barrie, Ont. Its council voted late Tuesday in favour of the one-year cryptocurrency […]
The chart below displays the total dollar volume invested and average price per unit on a quarterly basis for all apartment building transactions over $1M in the GTA. Total investment volume in 2018 reached a new high at $2.71B, outpacing 2017 volumes by 77%. Investment volume in the second half of 2018 reached a combined […]
On a sunny afternoon two years ago, as panic about the overheated housing market in Canada’s big cities was spreading, three key policy-makers hunkered down in Toronto to figure out what to do. Federal Finance Minister Bill Morneau, Toronto Mayor John Tory and then-provincial finance minister Charles Sousa emerged with an acknowledgement that the housing […]
In today’s real estate milieu, where cash flowing properties are becoming more sporadic by the day, the rent-to-own model is emerging as a superior strategy with a favourable buy-in. Helping tenants take eventual ownership of a property by giving them a stake in their own success, rent-to-own investors only have to put 15% for a […]
Part 1. CMHC Shared Equity Loan. The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and Housing Corporation (CMHC). It is expected that approximately 100,000 first-time home buyers […]
New condo sales declined 58% in 2018 from a record high. New launch prices grew by 56% over the past two years to surpass $1,000 psf in Toronto. Annual growth in condo resale prices and condo rents moderated in Q4 to below 7%. A record 22,000 new condos are scheduled for completion in 2019. Purpose-built […]
If you’ve ever nervously watched water drip from your apartment ceiling, or have nearly set your oven ablaze by neglecting a tray of chicken fingers, you’ve probably found comfort in your tenant’s insurance coverage. Homeownership is no different — something will inevitably burst, break or leak, and you’ll want the safety of home insurance for […]
Canadians who are looking to buy homes aren’t the only ones feeling the pinch from mortgage rules the federal government brought in last year. The rate of homebuilding in the country took a surprising tumble in February, and it’s related to mortgage stress testing, which raises requirements to qualify for a loan, says a leading […]
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