August: Hottest. Condo. Market. Ever.

Never in the history of the Greater Toronto Area has there been a hotter August for condo sales. In the midst of a pandemic, the Building Industry and Land Development Association said sales jumped 35 per cent from a year ago and sat 129 per cent above the 10-year average. Single family home did less […]

Downtown Condos Rents Roaring Back

A major concern that the industry has had for nearly a decade is that the pace of new condo price growth has far exceeded condo rent growth. The chart below looks at the average price for new condos in postal codes M5A and M5V in Toronto (Downtown East, King West, Entertainment District), as well as […]

New Condo Pricing in the Central Downtown Core is up 10% Annually

Bullpen Research & Consulting works with big data from Buzzbuzzhome (BBH), America’s largest online marketplace for new construction homes, and monitors the average price of “popular” floorplans based on the thousands of monthly data points and pageviews. The chart above looks at the average price for the central downtown core based on the popular unit […]

Mortgage delinquency rates ease in Q2 – Equifax

Government support and payment deferrals played major roles in improving Canadians’ financial health, Equifax said Despite the end of payment deferral programs, Canadian mortgage delinquency rates declined from first-quarter highs in Q2, according to Equifax Canada. The 90+ day mortgage delinquency rate fell by 32.6% annually in Q2, while the rate for non-mortgage products dropped […]

Canada retail sales bounce back

Retail sales in Canada rebounded after falling earlier in the summer months, a reassuring sign that consumers continue to spend. The value of receipts rose 2.1% in August, according to preliminary results provided by Statistics Canada on Thursday in Ottawa. That more than offset a 0.6% decline in July. Retail sales are still below the […]

Over 4 In 5 Canadian Real Estate Markets Have Seen Price Growth Slow

Canada is in election mode, and all politicians have a plan to cool real estate markets. The thing is, most markets have begun to cool on their own. Canadian Real Estate Association (CREA) data shows a third of markets made a monthly pullback in July. The trend is likely to get stronger as well, as […]

Trudeau vows ban on foreign buyers

Prime Minister Justin Trudeau has promised to introduce a two-year ban on foreign home buyers and make the home purchasing process more transparent if re-elected. The Liberal Party leader told a crowd in Hamilton, Ontario that a Liberal-led government would “crack down on predatory speculators that stack the deck against you,” if returned to power […]

Prime prices exceed mainstream for first time since pandemic

Prime prices across 46 cities increased at an average rate of 8.2% in the year to June 2021, up from 4.6% in March. What’s happened? Until now, the pandemic-fuelled house prime boom was most evident in the mainstream market but the prime sector has now surged ahead. The mainstream market now lags behind with prices […]

Resubmission Proposes Residential Additions to East Harbour Plan

Recent documents submitted to the City of Toronto have revealed the latest plans for East Harbour, a massive development on the site of the former Unilever Soap Factory where the Don River meets Lake Shore Boulevard. The most striking change from previous versions is the addition of nine residential towers to the mix, which would […]

Value of GTA condos nearly doubles in four years

Condos in the Greater Toronto Area appreciated by 44% between their April 2017 peak and June 2021, says realty brokerage Properly. Interestingly, condos in the GTA struggled through most of 2020, save for before the COVID-19 pandemic and the very end of the year, but they nevertheless managed to subsequently surge in value again. “This […]

74% of Ontarians 18-34 don’t think they can buy home: survey

A survey of Ontarians revealed that three-quarters of respondents aged 18-34 don’t believe they will be able to afford a home in their city or town. “Having worked in this industry for 35 years now, I have seen one group [among the aforementioned cohort] able to get into the market, and that’s thanks to assistance […]

Hamilton’s ‘hidden gem’ properties

To say COVID-19 has been bad for small businesses would be an understatement, but mixed-use properties that will invariably hit the market because of the economically calamitous nature of the pandemic could help boost housing supply. “There’s a hidden gem: mixed-use commercial properties in downtown Hamilton that might be able to be converted into residential […]

Home sales fell again in May, but don’t get used to this

Sales in the Greater Toronto Area moderated for a second straight month in May, indicating that a semblance of normalcy is beginning to return to the housing market. However, it could be short-lived. There were 11,951 sales in the GTA last month, according to the latest data from the Toronto Regional Real Estate Board (TRREB), […]

Toronto’s Downtown Condo Market Bounces Back to Pre-Pandemic Levels

After months of lagging sales, Toronto’s downtown condo market bounced back in Q1-2021, after nearly 3,000 condo units sold, thanks to low borrowing costs, renewed optimism in the market, and rising suburban home prices, according to Urbanation’s Q1-2021 Condominium Market Survey. Released Monday, the survey said 2,886 new condominium units sold in the former City […]

New condo sales totaled 5,385 units last quarter

Urbanation released its Q1-2021 quarterly condo market update for the Greater Toronto Area at the end of last month. And there’s some good stuff in it. New condo sales totaled 5,385 units in the first quarter of this year, which is higher than the 10-year average of 4,924 units and only slightly below sales from […]

The hidden housing bubble

If there is a housing bubble in Canada, it’s probably not where you think. In the wake of the COVID-19 pandemic, Torontonians fled the dense urban core for arcadia and scooped up cottages in droves with the intention of living in them year-round. However, according to Bradley Watson, a broker with Sutton Group – Summit […]