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GTA Real Estate Market Watch | September 2017

Tuesday Oct 10th, 2017

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Toronto Real Estate Board President Tim Syrianos announced that Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 6,379 sales through TREB's MLS® System in September 2017. This result was down by 35 per cent compared to September 2016. The number of new listings entered into TREB's MLS® System amounted to 16,469 in September – up by 9.4 per cent year-over-year. "The... [read more]

Sales of $1 Million Condos up 85% in One Canadian market

Tuesday Oct 10th, 2017

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Demand for luxury property remains strong in many of Canada’s cities but for million-dollar condos one market has seen a huge surge. Sales of homes priced $1 million or more increased in the first seven months in Victoria, and Calgary but it was the GTA where sales were up 85% year-over-year according to data from RE/MAX Ontario-Atlantic Canada. The gain for GTA luxury homes was largely down to two effects of an overall increase in prices in the market. The gains pushed some condos... [read more]

Home Sales Edge Back Into Growth as the GTA Rebounds

Tuesday Oct 10th, 2017

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There was a small increase in national home sales in August, reversing a four-month trend of decline, as the GTA rebounded. The 1.3% rise reported by the Canadian Real Estate Association from July to August but means activity was still almost 14% below the peak in March. Actual activity (not seasonally adjusted) was nearly 10% below August 2016. “Time will tell whether the monthly rise in August sales activity marks the beginning of a rebound, particularly in the Greater Golden... [read more]

Toronto Housing Market Praised by Middle East Property Tycoon

Tuesday Oct 10th, 2017

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Toronto remains an attractive proposition for foreign investors despite escalating home prices and the introduction of a foreign buyers’ tax. Hussain Sajwani, international chairman of Middle East property firm DAMAC Properties, visited the city and met with Mayor John Tory during a recent visit to explore investment opportunities. "In a way, Toronto and Dubai share a number of similarities, as both cities continue to attract skilled professionals and investors who are looking... [read more]

Mortgage Delinquencies Remain Low, Originations Down 10%

Tuesday Oct 10th, 2017

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The average Canadian mortgage balance was 5% higher in the year to mid-2017 at $198,781. Data from TransUnion shows that despite rising debt, serious delinquencies were down 4 basis points to 0.65%, the third consecutive quarter of decline amid a period of stability. “Despite increases in mortgage debt, serious delinquency rates remain low with very little volatility observed over the past two years,” said Matt Fabian, director of research and industry analysis for TransUnion... [read more]

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