As per Altus Group their recently completed study for BILD (Building Industry and Land Development Association). They have looked at various factors that might be contributing to housing affordability and supply issues. Here in the Greater Toronto Area. One area that they looked at was development approval timelines, which I thought developers must be aware […]
The Bank of Canada has increased its benchmark rate by 0.75%, marking a fifth consecutive hike in its latest effort to get surging price growth under control. The central bank’s move is its first three-quarter-basis-point jump of 2022, bringing its trendsetting policy rate to 3.25% – a full three percentage points above the rock-bottom level […]
With a housing market that’s pricing out many in the Greater Toronto Area and stricter mortgage rules in Canada, private lending is becoming more popular among those looking to secure loans to buy a home — but experts warn there are risks involved. The value and number of mortgages funded by alternative and private lenders […]
The topic of housing supply isn’t front and centre of the affordability discussion like it was just a few months ago. Despite housing affordability in the first quarter posting its worst decline “in a generation,” according to recent data from National Bank of Canada, the public’s focus is now squarely on inflation, rising interest rates […]
The construction of office space is declining in Canada amidst runaway inflation increasing construction costs. A new report from Colliers Canada has found that although the number of under-construction offices is still very robust, with more than 15.7M sq. ft being built, that number is down from its earlier peak. The office space that is […]
A new report from the Canada Mortgage and Housing Corp. says the country’s housing stock would need to climb to over 22 million units by 2030 to achieve affordability for everyone living in Canada. The housing agency notes that two-thirds of the supply gap is found in Ontario and British Columbia, two markets that have […]
Developers could cancel the construction of approximately 5,000 new condominium units in Toronto in response to rising material and labour costs, an analysis conducted by the real estate research firm Urbanation has found. Urbanation President Shaun Hildebrand shared the results of the analysis with CP24 on Tuesday. He said building costs that are up approximately […]
The Greater Toronto Area housing market is becoming more balanced as May home sales dropped 39 per cent from a year earlier and prices rose almost 10 per cent, the Toronto Regional Real Estate Board said Friday. The Ontario board found last month’s home sales totalled 7,283, down from 11,903 in May, 2021, and 7,989 […]
Canadian real estate is so bubbly a large bank sees prices soaring in a downturn. Scotiabank (BNS) reported earnings today, filing the bank’s macroeconomic forecasts. These forecast scenarios help to determine outlook, and include a base case, optimistic case, and two pessimistic ones. Even in the bank’s worst case scenario, they forecast home prices will […]
There’s some good news on Canada’s housing supply front; the country’s housing starts rose 8% in April. According to the Canadian Mortgage and Housing Corporation (CMHC), the trend in housing starts was 257,846 units in April, up from 253,226 in March, when they had declined slightly from the previous month. The trend measure is a […]
The annual pace of new home construction in April surpassed analysts’ expectations The annual pace of new home construction in Canada was up 8% in April compared with the previous month, the country’s national housing agency has revealed. Canada Mortgage and Housing Corporation (CMHC) said the seasonally adjusted annual rate of April housing starts […]
Ontario’s provincial budget, released late this afternoon, was short on new housing measures but nevertheless earmarked $2B to build community infrastructure. The funds will be invested in the Ontario Community Infrastructure Fund over five years and will be deployed across 424 small, rural and north communities in the province, where old roads, bridges, water and […]
Canada’s annual inflation rate surged to 6.7% in March, a new 31-year record and a higher figure than financial analysts had expected. Statistics Canada announced that the country’s Consumer Price Index (CPI) rose by a full percentage point last month over February’s figure, surpassing Bay Street’s prediction that inflation in March would come in at […]
Since the COVID-19 pandemic began in March 2020, Canadian home prices have experienced significant upward momentum, a trend that is expected to continue into the spring market. According to new market reports, the Teranet–National Bank National Composite House Price Index (HPI) has increased 31.2 per cent between March 2020 and March 2022, two years since […]
All-new subway line will bring better, rapid transit to Toronto, create thousands of new jobs and spur economic growth TORONTO — The province has officially broken ground on the Ontario Line Exhibition Station, marking the start of construction for the new subway line that will support the delivery of better and faster transit for the […]
The Ontario Government laid out plans this week for two new transit lines that would further connect the GTA and the Greater Golden Horseshoe region. The province’s 30-year transportation plan, released on Thursday, details several in-the-works and planned future projects, including the construction of the controversial Highway 413. But amongst the list were two new […]
The pandemic, geopolitical tensions, and supply chain disruptions have thrown the world into disarray in recent years, but that hasn’t stopped the world’s ultra-wealthy population from growing at a strong clip. New data from this year’s Wealth Report by Knight Frank shows that the number of Ultra-High Net Worth Individuals (UHNWIs) grew 9.3% between 2020 […]
Knight Frank just released the 16th edition of its Wealth Report along with the disclaimer that, with everything going on in Ukraine right now, this outlook is of “little relative importance” and kind of doesn’t matter in the grand scheme of things. In any event, it includes the latest edition of their Prime International Residential […]
From the launch of the first iPhone, to the world’s population reaching seven billion people, a lot has changed in the past 25 years. In that same quarter-century timespan, the Greater Toronto Area’s housing market has also witnessed remarkable transformation. In its Quarter Century Market Report released today, RE/MAX Canada says that home sales have […]
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