Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Significant growth in Toronto’s average condo rental costs
In Toronto the average condo one bedroom rent was up by 7.2 per cent to $1,777. The average two-bedroom rent was up by 7.9 per cent to $2,419

October is another hot month for Toronto home sales, prices soar
The Toronto Real Estate Board says there were 9,768 sales in the Greater Toronto ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Foreign investors home in on Toronto real estate after BC’s tax measure, chart suggests
Record 2016 immigration and a growing first-time homebuyer population, which is the 25-to-34-year-old demographic, are supporting Toronto’s housing market, says Petramala – but there may be something else at play. “The sales-to-population ratio in Toronto has risen sharply recently, suggesting that foreign investment and speculation are playing a ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

‘Impossible to say’ what outcome of new housing rules will be: Morneau
Finance Minister Bill Morneau says it’s “impossible to say with absolute clarity” what the impacts of new mortgage rules introduced by Ottawa earlier this month will be.

A foreign buyers tax for Toronto? Three-in-four in the GTA would support following Vancouver’s lead
While support for a GTA tax is ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

The GTA-wide average price for a detached home has surpassed $1 million
Looking at September resale transactions across both the GTA’s outlying 905 region and its central 416 area, which includes downtown, the average price of a standalone home reached $1,013,788, according to the Toronto Real Estate Board’s latest Market Watch report. That works out to an increase of 23.6 per cent ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Canadians are actually to blame for housing crisis – developer official
“Have you voiced your displeasure with the greenbelt, restrictive municipal planning policies, NIMBYs? All of these factors result in high land costs and a lack of affordability,” Ben Myers wrote scathingly. “My industry can’t build you your dream house in the suburbs for a reasonable price if the price of land ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Tax on foreign homebuyers would be ‘horrible,’ Toronto real estate lawyer warns
A Toronto real estate lawyer warns introducing a tax on foreign homebuyers would be devastating for the Toronto housing market. His warning came Tuesday after a prominent economist said it was only a matter of time before the surcharge would come into effect in the Greater Toronto Area. “So much ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Toronto leads Vancouver in luxury home market
Sales of $1-million-plus Toronto-area single-family homes rose 83 per cent year over year in July and August. That’s 3,026 homes, with 55 per cent of them inside Toronto’s borders. Meanwhile, Vancouver saw a decline of 30 per cent in July and 65 per cent in August, for a total of 288 sales of $1-million-plus homes.

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Real Estate in the News

Posted by:

This week’s top real estate news in Ontario and how your real estate business could be affected.

Toronto sales to pick up in Q3 – report
The Trimart report stated that a rush of new sales will mark the end of Q3 2016, taking into account the over 30 new openings and releases planned across the city for the fall season.

Agent: Expect further mortgage tightening
“We expect some more changes like the CMHC changes. [Possibly] eliminating 5% ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Canadian housing market poised to break all-time annual sales record even as BC cools
Although RBC has just downwardly revised its resale housing market forecast, now calling for 531,600 units to change hands in 2016 (previously it expected 545,800 sales) that’s still enough to surpass the current banner year of 2007, when 519,800 units were sold.

Canadian banks could weather a ...

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Real Estate in the News

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This week’s top real estate news in Ontario and how your real estate business could be affected.

Toronto mayor not in a hurry to decide about intervention in housing
Toronto’s mayor said that the city government in not in a rush to decide about intervention in the red-hot housing market’s situation. Also read “This is the main driver of Toronto and Vancouver home prices (and it’s not foreign investment)“.

Here’s where Toronto detached home prices are ...

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