Real Estate in the News

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Real estate news stories that we’ve been following this week.

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GTA Realtors® Release Resale Condominium Market Figures
Strong year-over-year growth in condominium apartment sales reported through TREB’s MLS® System in the third quarter of 2015. Sales were up by close to 11 per cent to 6,586 compared to Q3 2014. New listings entered into the System during the quarter and active listings at the end of the quarter were also up on an annual basis, but by a lesser rate compared to sales.

High-income earners face higher taxes, lower child benefits under Liberals
Under the party’s platform, the Liberals pledged to cut the middle income-tax bracket to 20.5 per cent from 22 per cent. However, to help pay for the cut, the party has promised to create a new federal tax bracket of 33 per cent for those earning more than $200,000 a year. Also read “Trudeau’s spending promises could cement profits for bricks-and-mortar industry“.

Canadian housing market a leader in global trend
According to Scotiabank economist Adrienne Warren, though, it’s not foreign buyers who are driving up prices, but rather Canadians who are chasing after a limited supply, especially of single-family homes.

How to land a $13 million listing
The 12,000-square-foot mansion, which has five bedrooms, 10 bathrooms, an elevator, staff quarters and six custom fireplaces, fetched one of the highest prices for a spec home in Toronto

Interest rates expected to remain on hold until 2017, economists say
The worst is over for canada’s economy, but how low interest rates will continue to affect home prices is anyone’s guess. Also read “Bank of Canada stands pat, keeps interest rate at 0.5%“.

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