Any chance of a drop in real estate prices associated with the COVID-19 pandemic already seems a thing of the past as the Toronto market came roaring back last month, according to the June sales figures provided by the Toronto Regional Real Estate Board. Sales are up an incredible 89 per cent, and not just […]
Toronto homebuyers appeared unfazed by the tumultuous spring and returned to the market in droves in June. There were 8,701 home sales in the Toronto region last month, according to data released today by the Toronto Regional Real Estate Board (TRREB). That’s up 89 percent from May’s total and down only 1.4 percent over June […]
In mid-March, Ontario declared a state of emergency due to COVID-19, and within three weeks, the Bank of Canada cut the overnight interest rate to a decade-low of 0.25%, and half a million homeowners deferred their mortgages. As expected, many buyers and sellers suspended their home searches and sales in response to public health and […]
New construction home sales in the Toronto region have hit the lowest level for May since 2000, down 81 per cent year over year, according to the home-building industry association. It’s not clear how long the disruption will continue, said David Wilkes, CEO of the Building Industry and Land Development Association (BILD). It took more […]
Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based […]
A revised application submitted to the City brings changes to a proposed residential tower at 7 Labatt Avenue near Queen and River streets on the east side of Downtown Toronto. Developers TAS and Tricon resubmitted plans for the project in late 2019 with a new design by HOK, which has evolved in the months since. […]
You’ve checked listings, scouted your favorite neighborhoods, compared market prices and even picked the perfect shade of blue for your future kitchen. It’s safe to say you’re ready to become a homeowner. While purchasing your first home is one of the most exciting experiences you’ll ever have, it can also be extremely daunting, especially if […]
Owning approximately 3,500 acres of land at prime intersections in all provinces across the country, SmartCentres REIT is pursuing an aggressive expansion of its SmartLiving residential sub-brand, diversifying and optimizing its portfolio through redevelopment of its vast roster of properties. A $12.1 billion development program announced in 2019 is now underway, and will see 94 […]
Historical data from the late 1990s show a financial crisis is often followed with a steep increase in housing prices. If real estate grows in a similar manner as the 2000s, safe haven assets like gold and potentially Bitcoin may follow. The housing market is projected to see a steep sell-off in the second half […]
Canada’s real estate market slowed down considerably since COVID-19 measures were introduced across the country in March. With public health and safety top of mind, a number of real estate associations (like the Ontario Real Estate Association and BC Real Estate Association), put forth guidelines for realtors to prioritize virtual communications over any in-person meetings. […]
A survey was conducted on April 6 by TransUnion on the current financial status of 1,035 Canadian adults in the wake of COVID-19. The results released showed that 68% are concerned over their ability to pay loans and bills, and that the average respondent will fall behind on monthly debts in 6.4 weeks. The survey […]
In a real estate environment of diminishing returns, like the one we’re experiencing in the GTA, it’s important that investors seek opportunities to diversify their portfolios. A reliably profitable way to achieve that diversification is through commercial investment. The commercial real estate market is short on supply and long on demand, especially in niche pockets […]
As a whole, national multi-family starts surged upward last month, according to Canada Mortgage and Housing Corporation. This came with one notable caveat, however. The study covering April “was conducted in each province with the exception of Quebec, following the introduction of pandemic measures in the province in late March,” CMHC said. The Quebec government […]
Despite pandemic pressures, demand for multi-family assets continues to persist in Ontario and British Columbia, according to Canada Mortgage and Housing Corporation. CMHC said that this helped compensate for the considerable slowdown in new home construction in March, which largely came about due to the economic impact of the COVID-19 pandemic. Not taking into account […]
After a good showing in April, the team at BMO Economics is confident that home construction across Canada won’t see a major disruption due to the COVID-19 pandemic. A report from the Canada Mortgage and Housing Corporation (CMHC) published late last week saw housing starts in April rise 11 percent over the same period last […]
There is something unsettling about a quiet city. The empty streets, squares, and taped-off playgrounds that were full and vibrant only a few months ago now sit silent, stirring a seemingly endless series of questions about our recovery. At The Bentway, Toronto’s urban park built under an active downtown expressway, ambitious plans for Spring programming […]
Despite the uncertainty the COVID pandemic has caused for Toronto’s real estate market, residents are still interested in buying a new home in the coming months, according to a new survey from the Toronto Regional Real Estate Board (TRREB). To get a better understanding of how the COVID-19 pandemic has impacted consumers, TRREB contracted Ipsos […]
Home sales collapsed as anticipated in April as unprecedented job losses, economic volatility and strict physical distancing measures sapped the momentum behind what should have been Toronto’s busiest home buying stretch of the year. But as sales dropped 67 percent in April over the same time last year, home prices in the Toronto region still […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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