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 25% home price crash – Moody’s
Moody’s noted that the hypothetical 25 per cent collapse in Canadian housing is the worst-case scenario, taking into account current trends and prices (which have exceeded over $1.5 million for detached properties in the hottest cities). “[The] majority of banks would be able to absorb losses within one-quarter of earnings,” Moody’s stated.

Record high land transactions in GTA in Q2
All real estate transactions for the quarter in the GTA totalled $5.2 billion, the second highest volume for a quarter since 2007 and led only by the fourth quarter of 2015.

B.C. strips rights of condo investors, according to investor
The appeal was brought forth by four family member investors who, together, own three units in the building. They had previously rented out one of the three units, despite their application to do so being rejected by the strata council. That was in violation of the strata bylaws, which were upheld by the ruling.

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Upcoming Realty Point Seminars

  • FINTRAC Training has been scheduled for several dates and locations. This is mandatory training for all brokerages and agents.
    Please visit the seminar page to register.
  • Realty Point Company Picnic announced for Sunday August 28, 2016. All Realty Point brokerages and agents are invited. Go to the seminar page to register.

More information about upcoming seminars and to register visit this page.

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