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 […]
Real estate investors are piling into the condo market and taking advantage of low interest rates – even if it means withstanding short-term losses, according to a prominent Bay Street economist. “It’s really about the supply-demand mismatch and people are looking at interest rates, they know… interest rates will rise,” Benjamin Tal, deputy chief economist […]
Condo sales are on a sustained upswing across Toronto after spending much of 2020 in the red. Citywide condo sales rose over 63 percent annually last month with 2,167 units changing hands. While most areas tracked by the Toronto Regional Real Estate Board (TRREB) saw substantial increases in sales, a handful recorded transaction totals that […]
Housing prices all over the GTA have been skyrocketing throughout the past year, but it’s Oshawa that has come out as the frontrunner in the GTA’s condo market. A new report from Strata has found that property values in Oshawa have increased 48% over the past year. This is staggeringly higher than the increases seen […]
Real estate brokerage firm Redfin recently did an analysis of “mortgage-rate lock data” taken from the analytics firm Optimal Blue. A mortgage-rate lock is an agreement between a lender and a borrower guaranteeing a particular interest rate for a particular period of time. What’s potentially interesting about this data is that (1) approximately 80% of […]
Congratulations to everyone living along the downtown portion of Toronto’s waterfront, all 65,000 of you who, for decades, have been clumped together on the city’s official map of neighbourhoods as one ill-defined, enormous blob called “Waterfront Communities — The Island.” Big ups also to Liberty Village, Fort York, West Queen West, and all of […]
It’s no secret that the Toronto housing market is one of the most competitive real estate markets in Canada. In January 2021, statistics from the Canadian Real Estate Association (CREA), showed that home sales have set another all-time record, but statistics are also showing a lack of new listings. Since we’re just coming out of […]
As we creep closer to the one-year anniversary of Canada’s first COVID-19 lockdowns, the country’s major rental markets continue to see prices fall as rental supply climbs and empowered renters negotiate with landlords. New figures released this week by rental site Padmapper suggest that February has been no exception, with rent prices for one-bedroom units […]
It’s still early in the year, but January 2021 is looking awfully similar to basically every month in the second half of 2020, at least as far as the country’s high-flying housing market is concerned. While we started sounding like a broken record a long time ago, Canadian homebuyers did it again last month, turning […]
A Canadian home price tracker known to be one of the most reliable measures of appreciation just recorded its highest annual increase since October 2017. The Teranet-National Bank Home Price Index rose 9.6 percent over the previous year in January, led by double-digit price increases in local markets including Ottawa-Gatineau, Halifax and Hamilton. Montreal and […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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