Home buying activity hit a record high in the Toronto region last month as 10,970 properties changed hands. February’s sales total represented a 52.5 percent increase over the same period last year, according to data published today by the Toronto Regional Real Estate Board (TRREB). While buyer interest in suburban single-family homes has dominated headlines […]
When it comes to purchasing a condo as a first-time home buyer or investor, there is a wide range of opportunities and benefits. However, when it comes to choosing whether or not to buy a pre-construction condo or a resale condo, things can get a little tricky. Either way, the condo market is thriving in […]
It won’t happen overnight, but with Toronto condo sales clearly on the rebound, struggling condo prices could soon be following them upward before the end of the year. That’s the message from RBC Senior Economist Robert Hogue who, earlier this month, wrote that the Toronto condo market’s “relative affordability” may be boosting its appeal to […]
Rock-bottom mortgage rates have been a major driver of red-hot home buying activity across Canada since the country emerged from the widespread lockdowns of spring 2020. Those rates are likely to stay near all-time lows for the first half of 2021 but an economist with Capital Economics predicts they will begin climbing later in the […]
The COVID-19 pandemic is having an impact on the housing market with pent-up demand pushing Canadian home prices higher. Bindu Suri has details on Royal LePage’s new market survey forecast. The suburbs surrounding Toronto, Montreal and Vancouver’s are fueling an uptick in homes beginning construction and properties ready for occupancy, says Canada Mortgage and Housing […]
Back in 2015, Toronto’s biggest issue was traffic congestion. Or, at least, that was how it seemed at City Hall, when city council approved a $919-million project to reconstruct one section of the Gardiner Expressway. Much has changed since then. Toronto is bigger, richer and more unequal. Housing affordability is the biggest issue in local […]
Ever since the housing market rally began in 2020’s second half, the number of Toronto region communities recording 20 percent-plus annual price gains in their detached home markets has been climbing each month. Of the 30 suburban cities and towns tracked by the Toronto Regional Real Estate Board (TRREB), 20 experienced detached home price increases […]
Homebuyers were out in full force again in January, snapping up 6,928 homes across the Toronto region. And, according to a new forecast, this momentum out of the gate is expected to persist throughout the entire year. The Toronto Regional Real Estate Board (TRREB) released its 2021 Market Outlook this week, predicting that low interest […]
After a busier-than-usual December home buying season, purchasers across the Toronto region spent the first month of 2021 continuing their buying spree. January home sales were up over 50 percent compared to the same month last year. Robust buyer activity and tight supply in the low-rise market sent the overall average price of a Toronto […]
GTA Real Estate Market Update by Toronto Real Estate Board • January 2021 home sales amounted to 6,928 – up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions. […]
The winning proposal of the multi-million dollar renovation to Hamilton’s downtown entertainment facilities proposes massive changes to FirstOntario Centre, FirstOntario Concert Hall and the Hamilton Convention Centre, as well as a series of high-rises. The bidder, Hamilton Urban Precinct Entertainment Group (HUPEG) — which includes Carmen’s Group, LiUNA, dpai architects, Fengate Capital, Meridian Credit Union, […]
The Oshawa Census Metropolitan Area (CMA) is leading the country in population growth. That’s according to a new ranking from Statistics Canada, which reports the Oshawa CMA had a population growth rate of 2.1 per cent in 2020. According to the agency, the Oshawa CMA beat out Halifax and Kitchener-Waterloo-Cambridge for the top spot. Both […]
Although the COVID-19 pandemic did not impact the GTA housing market quite as profoundly as some thought it might, the province’s lockdown measures made cities a little less desirable than rural and suburban areas with larger homes and yards, and condo-heavy municipalities such as Toronto suffered a bit more as a result. In Mississauga, a […]
Over half of the new condos sold in 2020 in the GTA were located in suburban “905” areas of the region — a first in the several decades that market data has been collected. There were 9,288 new condo units sold by home builders last year in the 905, enough to narrowly beat out the […]
TORONTO – If you were on the lookout for a Greater Toronto Area condo or apartment to rent or own late last year, new data from the region’s real estate board shows you might have had an edge in negotiations. The number of condos listed for sale or rent in the area in the fourth […]
New single-family home sales across the Toronto region skyrocketed in 2020, mirroring the shift in buyer preferences that played out in the resale market last year. Data for the full year published today by the Building Industry and Land Development Association (BILD) showed buyers scooped up 16,973 new single-family homes in 2020. That’s 81 percent […]
Millennial-aged Canadians’ frenetic pursuit of ground-related housing played an outsized role in the country’s aggregate home price spiking by 9.7% last quarter over the corresponding period a year earlier, according to Royal LePage. “Millennials are starting to have their first or even second child—they’re over 35—and our previous research showed they preferred city cores and […]
Momentum was building in Toronto’s condo market toward the end of 2020 after months of sluggish sales and soaring inventory. While it’s still early days, preliminary condo sales data shared by Toronto broker John Pasalis shows this momentum, and then some, has carried into 2021. According to a screenshot of aggregate Toronto MLS data Pasalis […]
At the end of last week, the RBA released a previously confidential report from November that showed the consequences of reducing the cash rate by 100 basis points. The document pointed to a potential 30% increase in property prices over the next three years should borrowers see the low rate as being permanent, and a […]
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