This week, RBC Economics published a study on Canada’s rental market where they argued that the pace of new supply needs to at least double in markets like Toronto in order to meet future housing demand and balance the market. Similar things, I’m sure, could be said about many other housing markets around the world. […]
Condo markets in Toronto, Vancouver, and Montreal have accelerated significantly this fall, especially when compared to other major cities south of the border. Last month alone, benchmark prices in Toronto went up by 5.2% annually to $805,500. This was only about $10,000 below the record highs achieved around two years ago, Bloomberg reported. And even […]
Colliers International is celebrating after selling out the commercial element of North Vancouver’s new premium Park West development. The real estate firm had set itself a target of selling the strata units in the shortest time but with the highest possible price and achieved this in just 2 weeks. The sales were led by Casey […]
With investors and consumers giving greater scrutiny to the companies they do business with regarding their environmental, social, and economic performance, being a ‘sustainable business’ is a badge of honour. TD Bank Group has been named among the world’s most sustainable businesses by Dow Jones Sustainability Indices (DJSI) among just 25 banks on the shortlist […]
The building approvals process in British Columbia is in need a makeover to make it more efficient. The Minister of Municipal Affairs and Housing initiated a review of the process at the Union of British Columbia Municipalities (UBCM) convention in 2018 and now the findings of that review are published in a new report. A […]
Toronto’s rental housing landscape is getting hit from all sides, as high prices keep homeownership out of reach for many while a chronically undersupplied rental pool fails to keep up with rising demand. Even as purpose-built rental construction in Canada’s largest city rises significantly, RBC senior economist Robert Hogue says the market is not on […]
Home sales rose Canada-wide for the sixth straight month in August, leading one of the country’s largest real estate industry groups to increase its 2019 sales forecast on the back of the sustained strong results. According to Canadian Real Estate Association (CREA) data and commentary released last week, the impacts of the new mortgage rules […]
After around a year of mostly weaker activity, housing starts accelerated in August, according to Canada Mortgage and Housing Corporation. The trend measure stood at 218,998 units last month, markedly larger than the 208,931 units in July 2019. “Higher trending single-detached starts in urban centres in July and August following roughly a year of declines […]
Paul D’Abruzzo took a tenant to the Landlord and Tenant Board for three months of unpaid rent on an investment property he owned in Whitby, and through mediation—his best option—ended up coughing up a fourth month of rent-free living. “My tenant sat there in mediation and said she can’t pay rent anymore, and after I […]
50 Scollard Autumn is the real estate industry’s second-busiest time of the year and the pre-construction condo market is replete with an interesting suite of amenities. And according to Barry Fenton, president and CEO of Lanterra Developments in Toronto, the city’s shrinking condo units make dynamic amenities all the more essential. “A lot of amenity […]
A double-digit percentage increase in the number of Greater Toronto Area houses sold last month shows the region’s property market is “quite fine,” according to analysts, as it rebounds from mortgage controls introduced last year that sidelined some buyers. Housing sales in the GTA rose 13.4 per cent in August compared with the same month […]
The number of Canadians receiving regular Employment Insurance (EI) benefits in June was 442,600, virtually unchanged from the previous month. Year-over-year, there were 21,300 fewer EI beneficiaries, a 4.3% reduction. Statistics Canada says that the month-over-month data shows an increase in EI beneficiaries in Quebec while there was a decrease in Alberta, Saskatchewan, Nova Scotia, […]
Avison Young has appointed five highly regarded finance and strategy professionals to its team as it continues its rapid expansion worldwide. The appointments include several thought leaders and comprise two promotions and three hires for newly created positions. Tom Morande becomes chief financial officer for North America. He joined the firm as a principal […]
Homeowners who want to be truly satisfied with their home should avoid comparing its size to that of their neighbours’ homes. A new study from Iowa State University has found that if their home is smaller than neighbouring homes, it often leads to dissatisfaction. The study was conducted by researchers led by Daniel Kuhlmann, assistant […]
The market for condo apartments remained strong in the Greater Toronto Area in the second quarter. Greater Toronto Realtors reported 7,038 sales of condo apartments through the Toronto Real Estate Board’s MLS in the three months, up 3.2% compared to a year earlier. New listings for the sector were down 3.5% year-over-year to 11,110; and […]
When art director Cory Ingwersen started searching for a home in Toronto earlier this year, his hunt began in a slumping housing market. Yet bidding war after bidding war, Ingwersen says he and his wife made multiple offers on several properties, only to be met by counter-bids that were 10 to 20 per cent […]
Urbanation released its Q2-2019 condo market results for the Greater Toronto Area this week. It was a robust quarter, following a slower Q1. Here are a few highlights: – 8,902 condo units were sold across the GTA in Q2-2019. This is the second highest Q2 level on record after Q2-2017 (11,413 sales). – The average […]
Garrett Dash Nelson recently published a study looking at urban density on a cell-by-cell basis for a number of US cities. Each “cell” is a 30 arc-second grid cell, but you can think of them as being approximately one square kilometer. The goal of the project was to better define urban density and do it […]
RENT OR BUY TORONTO 2019 With every passing year it seems that, for many, the dream of moving from renting to buying a home in Toronto slips farther and farther away. Many are posing the question, when will the Toronto real estate market crash in hopes of a price drop to get their foot in […]
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