Distinguished economist Benjamin Tal says that rentals “must be part of the solution” to the GTA housing problem Report Summary: The GTA is not a normally functioning market due to a history of legislation failure, as well as a severe lack of land; House prices, while always on the rise in the GTA, have followed a […]
Toronto rental rates fastest growing in Canada Toronto’s rental housing market is downright scary right now, and there are few signs that affordability will improve in the near future. After significant price gains over the last two months, March rental rates show the highest percentage increase so far this year. According to data complied by […]
While a 27-storey, two billion-dollar house for six people in the most poverty-stricken area of India might seem a tad bit extravagant to most, the richest man in India and sixth richest in the world, Mukesh Ambani, seems to have missed the memo. And that’s precisely why there is a towering skyscraper that reaches 550 […]
We have a quick mortgage update for you. As you may have heard, CMHC (Canada Mortgage and Housing Corporation) just announced it will be increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. When we heard about this update, we sat down with Mortgage Specialist, Tyler Schwende from SAFEBRIDGE Financial Group to get […]
The average rent for a condo in downtown Toronto rose almost 12% to $2,134 a month in 2016 as supply of units shrank for the first time in five years. Research firm Urbanation Inc. says shrinking condominium inventory in the high-rise sector, driven partially by landlords selling to would-be homeowners, helped drive the highest annual […]
The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations. In making the scheduled announcement, the central bank says while the global economy has strengthened, international uncertainty has negatively affected business confidence and investment among Canada’s trading partners. The bank […]
Home sales in the Greater Toronto Area were up 16.5 per cent in November compared to a year earlier with 8,547 sales through the MLS system of Toronto Real Estate Board. Meanwhile, prices continued to soar as low inventory tightened the seller’s market. The average selling price rose 22.7 per cent year-over-year to $776,684. All […]
Average price by percentage increase: January to June 2016
The supply of new condos in the Greater Toronto Area hit the lowest level since 2010 in the second quarter of 2016. A report from Urbanation shows that sales of condos in the GTA increased 26 per cent year-over-year to 7,731. However, the total inventory declined by the same percentage to 13,528, a decade-low of […]
While there is no consensus on whether the 15 per cent tax on foreign home purchases in Metro Vancouver will cool any of the heat in the market, there could be a consequence elsewhere. Some analysts are suggesting that rather than pay the additional cost in BC, foreign investors may simply switch their cash to […]
Low rise homes in the Greater Toronto Area have more than doubled in price in the past decade; average appreciation in the past year alone was $100,000. The average price of a new low-rise home hit $887,543 in June, the Building Industry and Land Development Association (BILD) reports; that’s more than double the average $393,398 […]
Photo: SAiM/Flickr Low supply is driving up prices: it’s a dynamic playing out in the Toronto resale housing market, observers say, and it’s a similar story for the city’s rental segment, suggests a new report from Urbanation. In the second quarter of this year, renters throughout the GTA paid an average of $1,934 per month for […]
Low interest rates are playing the leading role in the fiery dramas that are unfolding in the Toronto and Vancouver housing markets, where home prices are rising at a frenetic double-digit pace annually, say leading economists in a new report. But they also point the finger at a strong cast of supporting supply and demand factors. […]
An “unprecedented” number of luxury home sales have been reported in one of the country’s frothiest markets. Toronto saw 500 properties worth north of $2 million sold between January 1 and March 31 of this year. “Performance in the top end of the Toronto housing market continues to defy expectations,” RE/MAX Realtor Barry Cohen said […]
A large developer is taking steps to “deal with current cash flow issues.” Toronto-based Urbancorp has started restructuring proceedings under the Bankruptcy and Insolvency Act in a bid to address debt issues. “We determined, after much consideration and consultation, that a court-supervised process is the best way to deal with current cash flow issues,” chief […]
Thousands of purchasers of new condominiums are being overcharged for property taxes. Here’s how it works: when a new condominium is ready for occupancy, the buyer gets the keys and can move in — but title will not be transferred for some months. The period between occupancy and the final closing, when title is transferred, […]
Based on recently published data by the Canadian Real Estate Association1, the charts below summarize the total dollar volume (MLS) in residential real estate sales by region, the percentage change for 2015 over 2014, and the 2016 forecast by CREA. The Coldwell Banker Canada team has completed a comprehensive analysis of the 2015 market data […]
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Holiday celebrations are starting early this year at Pier 27 Tower on the Lake, the third phase of the sought after lakefront luxury condominium on Queen’s Quay. From now until the end of December, Pier 27 is offering two years free maintenance on their beautiful two-bedroom suite located at the northwest corner of the building. […]
The Toronto Real Estate Board reported its second best sales for December in 2015, which completed a record breaking year for the region’s realtors. MLS sales in the GTA of 4,945 in December took the year’s total to 101,299, a rise of 9.2 per cent over 2014. All major home types saw increases and TREB […]
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