Canadians amass $200 billion in wealth from residential real estate in a single year
“Rising home prices have generated $200 billion in new household wealth over the past year alone,” writes Adrienne Warren, a Scotiabank senior economist, in the latest weekly Global Real Estate Trends report.

Toronto condo builders have taken conservative path to adding supply: CMHC
CMHC said that 94 per cent of the condo units under construction or completed had been sold at the end of last year, leaving about six per cent of units in the Greater Toronto Area unsold. Also read “Investor: ‘I believe the speculation hustle is over’“.

Downtown Toronto has lowest office vacancy rate in North America: CBRE
CBRE says vacancy rates in the office market in downtown Toronto have been going down since 2013, thanks to strong demand from tenants. That’s despite the fact that almost four million square feet of new space has come onto the market since then.

Toronto condo landlords find tenants in 17 days on average
Condos are getting rented out sooner as competition gets stiffer. On average, condo units listed on the Toronto Real Estate Board’s multiple listing service (MLS) system were rented out in 17 days, compared to 24 days a year ago — that’s a full week drop, Urbanation points out.

New condo construction in Toronto boosts housing starts rate nationwide
“Overall, June saw housing starts pick up pace in Canada, bolstered by apartment construction in Ontario – especially new condo construction in Toronto’s downtown core,” CMHC Chief Economist Bob Dugan.

Investor unperturbed by falling rental rates
“We’re still having incredible immigration in Toronto; 200-250 thousand people moving in every year and the builders just can’t keep up with demand.”

How public transit affects home values in Toronto
The Cosmos development is part of a residential building boom tied to Toronto’s new transit lines. These are the kinds of homes that planners and developers say will blur the line between urban and suburban living. Public transit access boosts property values, and is increasingly a must-have for GTA homebuyers.

New condo construction in Toronto boosts housing starts rate nationwide
High-rises have seen a renewed surge as buyers started looking for alternatives to the low-rise market, which has recently experienced bouts of record-low inventory.

Canadian homes are making more in a year on average than the people living in them
Comparing the eye-popping 12-month home price appreciation — this works out to $50,619 as of June — with the average amount Canadians earn a year, BMO Chief Economist Douglas Porter lays out just how quickly prices are rising.

Bank of Canada holds trend setting rate at 0.5%
Pressures from global volatility and slow growth in the wake of the Brexit haven’t deterred the Bank of Canada from its current monetary policy; the central bank has opted to maintain the overnight lending rate at 0.5%. The Bank Rate is correspondingly 0.75%, and the Deposit Rate is .25%.

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Average Canadian house price rose 13% to record $509,460 in May
The strong gains are largely tied to hot markets in Ontario and British Columbia, according to the numbers released Wednesday by the Canadian Real Estate Association. Stripping those two markets out of the calculations, the average price of a house sold in May declined 0.7 per cent in the past 12 months, and sold for $310,007 in May.

How the release of TREB home sale data might curb bidding wars
The recent Competition Tribunal ruling ordering the Toronto Real Estate Board (TREB) to make home sale data more accessible online could lead to fewer bidding wars in Toronto, says one real estate management professor at a major university.

Ont government snubs commercial real estate
Commercial real estate operators have been largely excluded from incentives outlined in the newly released Climate Change Action Plan (CCAP), even though they’ll soon be absorbing the flow-through cost of carbon emission allowances in natural gas prices.

Commissioner of Competition vs. TREB: What’s next
Competition Bureau spokesperson Taylor Bildstein says TREB is still required to fulfill its obligations within the 60 days prescribed in the tribunal’s order, unless TREB obtains an order from the Federal Court of Appeal within that timeframe temporarily staying the order.
The 14-page appeal document cites approximately 40 Grounds of Appeal, more than 30 of which allege the Competition Tribunal erred in its determinations.

Harmonized real estate data exchange pursued
Five prominent organizations have formed the International Real Estate Data Exchange Council (IREDEC) to pursue a harmonized standard in place of those now variously used in North America, the United Kingdom, Europe, France, Germany and the Netherlands.

Toronto housing boom unsustainable, Bank of Canada says
“Prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Stephen Poloz said Thursday with the release of the bank’s semi-annual financial system review. It was a caution to consumers not to get caught up in the frenzied market conditions that see many GTA homebuyers bidding tens, sometimes hundreds of thousands of dollars, over list prices as demand continues to outstrip the supply of housing, particularly detached and semi-detached homes.

A quick look at changes to mortgage lending rules made by Ottawa in recent years
The federal government has moved several times in recent years to restrict mortgage lending. Here’s a quick look at some of the changes Ottawa has made since 2008.

Raising interest rates too quickly could ‘bring Canadian housing to its knees’
“The ultimate risk to Canada’s housing market is not higher rates, but fast rising rates,” warns Benjamin Tal, CIBC’s deputy chief economist, in a recent note.

Kitchener, Waterloo real estate sales surge as bidding wars break out
Ian Taylor is among an increasing number of local real estate agents who have noticed a distinct shift in Kitchener-Waterloo’s real estate market: more buyers and agents are coming in from the GTA and they’re bringing Toronto-style real estate tactics with them.

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Realtors warn land transfer tax could double across Ontario
The Ontario Real Estate Association, in a release Tuesday, warned homebuyers that the province is moving ahead with a plan to allow all other municipalities to levy a land transfer tax.

Toronto experiencing a traditional fall market – with some unusual bumps
Houses are still selling briskly in some cases and sitting in others. One house that didn’t get a single bid on offer night drew three competing buyers a week or so later – with a higher asking price.

Condominium Apartment Starts to Dominate GTA Housing Construction in 2015 & 2016
Housing starts are set to reach 32,400 units in 2015 and remain virtually unchanged in 2016. Condominium apartment starts will dominate construction activity in both years. Existing home sales will reach 93,400 units in 2015 and 90,000 in 2016.

CMHC expects housing market to moderate, starts and sales to slow 2016 and 2017
CMHC chief economist Bob Dugan says the gains in provinces like Ontario and B.C. have offset the slowdown in oil-producing provinces like Alberta. Also read “Interest Rate Update: Hike May Come Mid-2017“.

Sales plateauing in most markets
In its monthly Metro Resale Snapshot, the Conference Board of Canada reported only 15 of the 28 areas reporting a monthly increase. Markets around Ontario’s Golden Horseshoe cooled in August, but B.C. markets continued to surge. Volumes in resource-dependent Saskatchewan and Alberta are weak.

Spike in unsold Toronto condos not a sign of ‘increased vulnerability’, economist says
The number of new, unsold condos in Toronto swelled from less than 1,000 in December, 2014, to nearly 3,000 in May, 2015, the Canadian Mortgage and Housing Corporation and CIBC say. But in the case of the GTA, CIBC Deputy Chief Economist Benjamin Tal says the fluctuating numbers aren’t necessarily a reason to panic.

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Bank of Canada keeps benchmark rate at 0.5%
Economists had been expecting the bank to keep its trend-setting target for the overnight rate where it is now. A few believe, however, that another cut might be possible later in the year unless the economic picture improves.

Three words to sum up Canada’s economy: ‘Best. Recession. Ever.’
Outside of the hottest housing markets in Canada, and the slump in Alberta, the economy is holding up well. Also read “The Bank of Canada has officially begun its “wait-and-see” era“.

Average Toronto-area home sale price fell to $602K in August
Sellers market conditions remain with a tight supply of home son the market as we head into the fall selling season.

Google technology might be future of real estate marketing
Hi-resolution imaging and virtual reality systems might just bring Google into the real estate technology forefront.

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Toronto’s residential land prices reach new highs: ‘More condominiums coming’
Residential land prices increase with the emphasis on higher-density condo projects coming to market.

5 reasons why the market meltdown matters to all Canadians
The recent pull-back of stock markets around the globe could signify any number of future trends. here’s a primer on how it can affect you.

Drop in commodities brings deeper economic pain for some provinces
It’s feel like a recession depending where in the country you live. Also read “Home prices to rise despite economic slowdown: Poll“.

Bank of Canada: policies are managing risks from housing market strength
“The resulting strength in the housing market has increased household imbalances, but the risks stemming from these vulnerabilities have been well managed by complementary macroprudential policies,” Bank of Canada deputy governor Lawrence Schembri said in the prepared remarks of a speech. Also read “Housing market ‘collateral damage’ for BoC amid rate conundrum: Economist” and “Bank of Canada will cut interest rates again on Sept. 9, National Bank predicts“.

Are these Canada’s best property markets?
The list, compiled by the Economist Intelligence Unit (EIU), affiliated with the Economist magazine, can be taken as indication of which Canadian centres offer investors a steady stream of renters, regardless of minor fluctuations in employment and commerce.

New Template FINTRAC Training Materials
To further assist brokers in meeting their training program obligations, on August 24, 2015, CREA released an update to their template compliance manual that provides more detail on how to design a FINTRAC training regime.

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Housing affordability declines in Toronto, Vancouver in Q1: report
Rapid price growth in Toronto and Vancouver continues to affect the affordability of housing in those two markets, a recent report by RBC Economics states. The bank also predicts that interest rate hikes by the Bank of Canada will are likely to continue to erode housing affordability next year.

Vancouver inventory squeeze finds buyers panicked, sellers anxious
Vancouver is seeing their hot market fired up with a low inventory of resale homes. Toronto is experiencing the same issues. As sellers anticipate their home’s values to increase monthly, they can wait to put their homes on the market. But for how long?

Price of a new house hits new record — $783,995
A longer commute hasn’t dampened the increases seen in home prices as a detached new home now costs on average $783,99, up 16% since a year ago.

How Toronto became the world’s hottest luxury home market
Toronto’s luxury home market has prices rising faster than New York, Paris or London. Also read “Increased sales fuelling recreational property market“.

Bank of Canada stands pat, keeps interest rate at 0.75%
Interest rates remain at 0.75% with a possible change based on the loonie’s performance in the coming months.

Vancouver real estate prices pushing millennials to leave city: report
With ever rising home prices will we see vancouverites fleeing their fair city? And is Toronto also seeing this race to the suburbs? Also read “In Toronto, it’s the season of the bully“.

Inflation rate at 0.8%, lowest rise since 2013
Cheaper energy prices help to lower the annual rate of inflation in April despite the rises in the price of meat, insurance and telephone services. Also read “Will the Latest Inflation Data Impact the Bank of Canada’s Monetary Policy?“.

Artificial turf: Homeowners risk fine for ‘year-round’ grass
Does having an artificial turf lawn add to the curb appeal and low maintenance that some home owners appreciate? Then why are there bylaws against the fake lawns?

When are my taxes due? – remonline.com
Tax season has started. Do you know the tax filing due dates as a self-employed real estate professional?

Why the Bank of Canada rate cut may not bring down mortgage costs – theglobeandmail.com
The sudden and unexpected rate cut this week by the Bank of Canada may not translate to lower mortgage costs. We will have to wait and see if the banks pass along the savings. And you can read this Toronto Star story as analysts weigh in. And could there be further interest rate cuts in the near term?

Listings shortage drives Toronto home prices sharply higher – theglobeandmail.com
The squeeze on inventory causes house prices to rise adding to the pressure on the Toronto housing market. Also read “Steady growth expected for Canada’s housing market in 2015“.

Mobile payments coming to real estate, home deposits – globalnews.ca
Mobile payments for home purchase deposits are going to be available starting in February with Royal LePage Atlantic as a test and, if successful, will roll out to brokerages across Canada later in the spring. The service is provided by ExactDeposit with funds being transferred by credit card via their app on a smartphone, tablet on or the web using a desktop computer.

Overvalued housing prices and how to read them: Don Pittis – cbc.ca
Can you identify an over-valued property? Here are a few signals to watch for.

How plunging oil prices could impact real estate across Canada – thestar.com
The question of how falling oil prices will impact home sales and prices is a complex question. Royal LePage expects slow price gains for 2015.

Markets eye Bank of Canada rate cut for first time as oil rout damage deepens – financialpost.com
2015 is going to be a tpugh year for the Bank of Canada with analysts on both sides of the fence for central bank rate increases or decreases this coming year.

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