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This week’s top real estate news in Ontario and how your real estate business could be affected.
Toronto Real Estate Saw Condo Inventory Decline By 56% In December
The price of a condo dropped slightly in December. The average price across the Greater Toronto Area (GTA) dropped to $440,669, a 0.65% decline from the month prior. This is still a 16.5% increase from the year prior, so I wouldn’t read too much into it…yet. Condos across the GTA ...
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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 ...
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Average Canadian home now costs more than $500,000, CREA says
Monthly sales data from the Canadian Real Estate Association released Tuesday show the average price of a Canadian home was $503,057 in February. That’s an increase of more than 16 per cent from the same month a year ago.
Canada second only to France in taxing people who make $200,000 a year or ...
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CMHC Releases its 2016 Q1 Housing Market Assessment Report for Canada and 15 Markets
In Toronto, overall strong evidence of problematic conditions reflects a combination of price acceleration and overvaluation. We are also monitoring for the potential emergence of overbuilding in Toronto due to the high number of condominium units under construction. Inventory management therefore continues to be necessary to make sure that these ...
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Federal government increases minimum down payment for homes over $500,000
Homebuyers will now have to put 10 per cent down on the portion of the home purchase price over $500,000.
465,000 people may miss start of Ontario’s low-income energy rebate
The lights go out on Ontario’s provincewide energy rebate Dec. 31 — and fewer than seven per cent of the eligible low-income ...