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

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

Posted by:

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

TREB Monthly Resale Report June 2016
Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,794 residential transactions through TREB’s MLS® System in June 2016. This result was 7.5 per cent higher than the 11,905 sales reported in June 2015. In line with the prevailing trend so far this year, the number of new listings was down ...

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Real Estate in the News

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Five things to know about new mortgage rules that came into effect Monday
Homebuyers now have to put at least a down payment of 10 per cent on the portion of the price of a home over $500,000. For anyone buying a home for $700,000 — a common list price in Vancouver and Toronto — that means the minimum down payment will rise to ...

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Real Estate in the News

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Stay up-to-date with all real estate news updated continually on our Facebook page.

New mortgage rule might ‘temper’ hot markets, but not for long
The Canadian Mortgage and Housing Corporation will require a 10 per cent down payment on any portion of a mortgage it insures above $500,000 and up to $999,000. That’s double the five per cent down the Crown corporation currently asks to insure mortgages worth more than 80 per cent of a home’s value.

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Real Estate in the News

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Stay up-to-date with all real estate news updated continually on our Facebook page.

Average home prices to fall in 3 oil-producing provinces next year: CREA
Canada’s national average house price is expected to edge higher by 1.4 per cent in 2016, to $448,700 — with Ontario leading the other regions with an increase of 2.9 per cent. Also read “The housing bubble has already popped in some parts of Canada“.

Led by Toronto, home ...

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