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GTA Market Watch | October, 2019

Wednesday Nov 13th, 2019

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Toronto Real Estate Board President Michael Collins announced that Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB's MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types. The trend of annual growth in sales in... [read more]

GTA Market Watch | September, 2019

Friday Oct 11th, 2019

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Toronto Real Estate Board President Michael Collins announced that Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS® reported 7,825 sales through TREB's MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more... [read more]

GTA Market Watch | August, 2019

Friday Sep 20th, 2019

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Toronto Real Estate Board President Michael Collins announced that Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB's MLS® System in August 2019. This result represented a 13.4 per cent increase compared to 6,797 sales reported in August 2018. On a monthover- month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent. Bolton, Caledon,... [read more]

GTA Market Watch | July, 2019

Wednesday Aug 07th, 2019

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Toronto Real Estate Board President Michael Collins announced that Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Aliston, Angus, Tottenham & Greater Toronto Area REALTORS® reported 8,595 sales through TREB's MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment. New listings entered into TREB's MLS® System in Bolton, Caledon,... [read more]

GTA Market Watch | June, 2019

Monday Jul 08th, 2019

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The new President of the Toronto Real Estate Board, Michael Collins, announced that Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Aliston, Angus, Tottenham & Greater Toronto Area REALTORS® reported 8,860 sales through TREB's MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7 per... [read more]

GTA Market Watch | May, 2019

Thursday Jun 06th, 2019

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Toronto Real Estate Board President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 9,989 transactions through TREB's MLS® System in May 2019.* While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost... [read more]

GTA Market Watch | April, 2019

Friday May 24th, 2019

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Toronto Real Estate Board President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019. New listings in Bolton, Caledon, Beeton,... [read more]

Bank of Canada Holds Interest Rate - April, 2019

Thursday Apr 25th, 2019

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The Bank of Canada is keeping its key interest rate unchanged as it releases a downgraded 2019 growth forecast that includes a prediction the economy nearly came to a halt at the start of the year. The central bank also appears to be in no hurry to move the interest rate any time soon because, unlike recent statements, the announcement today removed all mentions of a need for future increases. The decision leaves the trend-setting rate at 1.75% for a fourth-straight announcement -- a... [read more]

GTA Market Watch | March, 2019

Friday Apr 12th, 2019

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Toronto Real Estate Board President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 7,187 residential sales through TREB's MLS® System in March 2019. This result was inline with 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent compared to Q1 2018. "The OSFI stress test continues to impact home buyers' ability to qualify for... [read more]

First Time in 5 Years! - Most People Surveyed Think the Canadian Housing Market is Balanced

Wednesday Apr 10th, 2019

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The share of Canadians who believe the housing market is favouring sellers and those who think it favours buyers is aligned. Just 2 percentage points divide the two opinions, making it the first time in 5 years that a balanced market is perceived according to a survey by RBC. Roughly a third of respondents fall into each group: those who say it is now a buyers’ market (36%) and those who say it’s a sellers’ market (34%). But those who are buying are not the traditional... [read more]

GTA Market Watch | January, 2019

Friday Feb 22nd, 2019

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TREB President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 4,009 home sales through TREB's MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December 2018. "It is encouraging to see the slight increase in January transactions in Bolton, Caledon, Beeton,... [read more]

GTA Market Watch | December, 2018 & All of 2018

Monday Jan 14th, 2019

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Toronto Real Estate Board President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB's MLS® System in 2018. This result represented a 16.1 per cent decline compared to 92,263 sales reported in 2017. Total new listings entered into TREB's MLS® System for Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater... [read more]

Bank of Canada Makes Key Interest Rate Announcement

Friday Dec 07th, 2018

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The Bank of Canada is leaving its key interest rate unchanged, as expected, at 1.75 per cent. The announcement comes in the wake of a move by the Alberta government to curtail oil production in the province after Jan. 1, 2019 to try to clear a crude storage glut that has driven western Canadian oil prices to multi-year lows. Meanwhile, the recently announced plan to close the General Motors of Canada car plant in Oshawa similarly offers a downside risk to future growth. Bank economists... [read more]

GTA Market Watch | October, 2018

Friday Nov 16th, 2018

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Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices in Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area reported through TREB's MLS® System in October 2018. Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area Realtors® reported 7,492 sales through TREB's MLS® System in October 2018 – a six per cent increase... [read more]

GTA Market Watch | September, 2018

Thursday Oct 11th, 2018

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Toronto Real Estate Board President Garry Bhaura announced that Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area Realtors® reported 6,455 sales through TREB's MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year. New... [read more]

GTA Real Estate Market Correction Has Ended

Friday Sep 28th, 2018

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The impact of the mortgage stress test is easing and the Greater Toronto Area’s housing market is showing growth – signalling the end of the market correction. That’s the assessment from RE/MAX INTEGRA, Ontario-Atlantic Canada Region which says that demand for single-family homes is on the upswing and average prices are starting to rebound. "The worst is now behind us. Pent-up demand will be a factor in the coming months, as homebuyers – many of whom delayed... [read more]

Major Tech Player ... Microsoft Confirms Allure of Toronto Real Estate

Wednesday Sep 12th, 2018

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Toronto is home to some of the world’s most innovative technology companies and now arguably the most famous name in tech has announced a major real estate investment in the city. Microsoft will base its Canadian operations in a new state-of-the-art headquarters in 132,000 square feet over four floors of 81 Bay Street, CIBC Square, with a move-in date of September 2020. The inclusion of Microsoft to downtown Toronto will only serve to reinforce the city’s reputation as a... [read more]

Canadian Housing Market is Bouncing Back says TD Economics

Monday Sep 10th, 2018

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Things are starting to improve in Canada’s housing markets according to a report from TD Economics. Deputy chief economist Derek Burleton and economist Rishi Sondhi say that recent data has confirmed TD’s view that there would be some traction gained after initial sharp impact to tighter lending restrictions at the start of the year. “Past experience has shown that markets begin to stabilize after about 4-6 months following the implementation of major changes to housing... [read more]

GTA Market Watch | August, 2018

Friday Sep 07th, 2018

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Toronto Real Estate Board President Garry Bhaura announced sales and price increases on a year-over-year basis in August. Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area Realtors® reported 6,839 sales through TREB's MLS® System in August 2018 – an 8.5 per cent increase compared to August 2017. Both the average selling price, at $765,270, and the MLS® Home Price Index Composite Benchmark for August 2018 in Bolton,... [read more]

Bank of Canada Makes September 2018 Interest Rate Announcement

Wednesday Sep 05th, 2018

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The Bank of Canada's decision to leave its interest rate unchanged Wednesday could be just a brief pause that comes as it carefully follows the unpredictable twists in the country's trade talks with the United States. The central bank kept its benchmark at 1.5 per cent, but many experts predict another increase could arrive as early as next month. In a statement Wednesday, the Bank of Canada said more hikes should be expected thanks to encouraging numbers for business investment,... [read more]

GTA Market Watch | July, 2018

Wednesday Aug 15th, 2018

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GTA REALTORS® Release July Stats August 3, 2018 -- Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area Realtors® in July 2018. "Home sales result in substantial spin-off benefits to the economy, so the positive results over the last two months are encouraging. However, no one will argue that... [read more]

CMHC (Canada Mortgage and Housing Corporation) Introduces New Help for Self-Employed Homebuyers

Friday Aug 03rd, 2018

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Canada Mortgage and Housing Corporation is to give lenders more guidance and flexibility to help self-employed homeowners. As part of the National Housing Strategy, CMHC’s plan aims to support those whose income can be variable or less predictable and restrict their ability to obtain a mortgage. This is a sizeable sector of the population (15%) and CMHC notes that they are key contributors to the economy and communities. The changes being made are: Providing examples of... [read more]

Amazon to Open Caledon Fulfillment Center, Creating 800 Full-Time Jobs!

Wednesday Jul 25th, 2018

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Amazon announced that it will open a new fulfillment centre in Caledon/Bolton, Ont. to pick, pack and ship books, electronics and toys. The Seattle-based e-commerce company says the centre will create more than 800 full-time jobs. The one-million square foot centre will be Amazon’s sixth facility in Ontario and ninth in Canada. The centre is expected to be built by the end of 2019 and, along with its future Ottawa facility, will bring more than 1,400 jobs to the province. The... [read more]

Royal LePage Q2 2018 House Price Survey and Market Forecast

Friday Jul 13th, 2018

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According to the Royal LePage House Price Survey[1] and Market Survey Forecast just released, home price appreciation slowed across Canada in the second quarter of 2018, marked primarily by softness in the Greater Toronto Area (GTA), where many regions have witnessed year-over-year price declines. In contrast, a number of surrounding cities in Ontario’s Golden Horseshoe and beyond are now seeing significant year-over-year home price gains as a result of migration from the GTA as... [read more]

GTA Market Watch | June, 2018

Thursday Jul 05th, 2018

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Toronto Real Estate Board President Garry Bhaura, in his first market release as TREB President, is pleased to announce some positive signs with respect to the housing market. Bolton, Caledon, Beeton, Tottenham, Maple, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 8,082 home sales through TREB's MLS® System in June 2018 – up 2.4 per cent compared to the low June 2017 result. After preliminary seasonal adjustment, sales were also up 17.6 per cent on a... [read more]

GTA New Condo Sales "Very Encouraging" Says Altus Group

Tuesday Jun 26th, 2018

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Sales of newly-built condos in the Greater Toronto Area totalled 2,003 in May, accounting for the bulk of the 2,345 total new home sales. While condo sales were 47% below May 2017’s record high, they were just 1% behind the 10-year average for May. “May new condominium apartment sales were very encouraging,” noted Patricia Arsenault, Altus Group’s Executive Vice-President, Research Consulting Services. “Not only was it the strongest month since last November,... [read more]

GTA Market Watch | May, 2018

Monday Jun 11th, 2018

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Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & Greater Toronto Area REALTORS® reported 7,834 sales through TREB's MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. On a month-over-month basis, seasonally adjusted May sales were basically flat... [read more]

Yet Another Bank Discounts Variable Mortgage Rate

Wednesday May 23rd, 2018

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HSBC says it is discounting its variable mortgage rate starting Thursday to a level that undercuts the recently discounted rates of other major banks, as competition in the space intensifies. The bank says it will offer a five-year variable closed rate of 2.39 per cent, down from 2.49 per cent and 1.06 percentage points below its prime rate. It says there's no end date but that the rate could change at any time. HSBC's lowered rate comes after TD Bank and Bank of Montreal started... [read more]

GTA Market Watch | April, 2018

Monday May 14th, 2018

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Toronto Real Estate Board President Tim Syrianos announced that Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & The Greater Toronto Area Realtors® reported 7,792 sales through TREB's MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent. The year-over-year change in the overall average selling price in Bolton,... [read more]

Bank of Canada Makes Interest Rate Announcement

Wednesday Apr 18th, 2018

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The Bank of Canada is maintaining its trend-setting interest rate as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth. The central bank, which kept its rate at 1.25 per cent Wednesday, said slower first-quarter growth of about 1.3 per cent was largely a result of housing markets' responses to stricter mortgage rules and sluggish exports. The bank had predicted the economy to expand by 2.5 per cent in the first three months of the... [read more]

GTA Market Watch | March, 2018

Thursday Apr 12th, 2018

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Toronto Real Estate Board President Tim Syrianos announced that Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & The Greater Toronto Area Realtors® reported 7,228 residential transactions through TREB's MLS® System in March 2018. This result was down by 39.5 per cent compared to a record 11,954 sales reported in March 2017 and down 17.6 per cent relative to average March sales for the previous 10 years. The number of new listings entered into Bolton,... [read more]

Toronto Still In Top 10 for Amazon HQ Say Experts

Wednesday Mar 28th, 2018

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As the only Canadian city still in the running to be the location of the Amazon headquarters known as HQ2, Toronto remains one of the 10 most likely to be successful. That’s according to a panel of 100 real estate experts and economists surveyed. The experts considered various factors including affordability of homes for the thousands of workers who will be based at HQ2, availability of land and talent, tax codes, and the tax breaks that are expected to be offered to the ecommerce... [read more]

GTA Market Watch | February, 2018

Friday Mar 09th, 2018

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Toronto Real Estate Board President Tim Syrianos announced that Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & The Greater Toronto Area Realtors® reported 5,175 residential transactions through TREB's MLS® System in February 2018. This result was down 34.9 percent compared to the record 7,955 sales reported in February 2017. The number of new listings entered into TREB's MLS® System totaled 10,520, a 7.3 per cent increase compared to the... [read more]

New Condo Sales Are Red Hot Across Canada

Tuesday Feb 27th, 2018

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New data from the Altus Group reveals the heat in the Canadian new condo market in 2017. The GTA was the hottest market with 36,429 unit sales in the year, setting a new record. There was a 25% increase in unit sales compared to the previous year, an extra 7,297 units. Prices hit new record highs as the supply of new condos failed to keep up with demand, and inventory fell to its lowest since Altus began tracking the market. “The sales activity across the country indicates that... [read more]

GTA Market Watch | January, 2018

Monday Feb 12th, 2018

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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 4,019 residential transactions through TREB's MLS® System in January 2018. This result was down by 22 per cent compared to a record 5,155 sales reported in January 2017. The number of new listings entered into TREB's MLS® System amounted to... [read more]

Toronto Condo Selling Prices Exhibiting Consistent Growth

Monday Jan 29th, 2018

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In its latest data release, the Toronto Real Estate Board stated that the average selling price for condominium apartments went up by 17.9% on a year-over-year basis in the fourth quarter of 2017, up to $515,816. “While this annual rate of growth was down from earlier in 2017, the condominium apartment segment was still the leader in terms of price growth in the second half of the year,” TREB said in its release. TREB president Tim Syrianos also announced that brokers in the... [read more]

Move Over, Silicon Valley

Friday Jan 26th, 2018

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Toronto’s tech sector hasn’t supplanted Silicon Valley, but it is aggressively jockeying for position, and to some, it’s only a matter of time before Canada’s largest city seriously challenges the American hub for supremacy. To put Toronto’s emergence as a tech hub into perspective, 22,500 jobs in the sector were added between 2015 and 2016—more than in New York and San Francisco combined, according to numbers compiled by CBRE. Twenty percent of all office... [read more]

Canadian Real Estate Association: Home Sales up 4.5% in December

Friday Jan 19th, 2018

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Home sales ended 2017 with a rise in sales ahead of the mortgage stress test which came in at the start of the New Year. The Canadian Real Estate Association says that there was a 4.5% increase in nationwide home sales in December compared with November, marking their fifth consecutive monthly rise. Activity increased in almost 60% of local markets with the GTA, Edmonton, Calgary, the Fraser Valley, Vancouver Island, Hamilton-Burlington and Winnipeg leading the gains. Actual (not... [read more]

GTA Market Watch | December, 2017

Thursday Jan 18th, 2018

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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 92,394 sales through TREB's MLS® System in 2017. This total was down 18.3 per cent compared to the record set in 2016. Record sales in Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & Greater... [read more]

GTA Market Watch | November, 2017

Friday Dec 08th, 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 7,374 transactions through TREB's MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB's MLS® System in November 2017... [read more]

Bank of Canada Announces Rate Decision

Wednesday Dec 06th, 2017

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The Bank of Canada stuck with its trend-setting interest rate Wednesday _ but it offered fresh, yet cautious, warnings to Canadians that increases are likely on the way. The central bank has now left the rate locked at one per cent for two straight policy announcements after the strengthening economy prompted it to raise it twice in the summer. In announcing the decision, the bank pointed to several recent positives that could support higher rates in the coming months. They included... [read more]

2018 Expected To Be Big Year in the GTA

Monday Dec 04th, 2017

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Pen up demand in the Greater Toronto Area is going to be unleashed next year, according to Laurentian Bank Securities’ chief economist. Sebastien Lavoie says the introduction of the Fair Housing Plan in April cooled the market, and that the inactivity is temporary. A lot of people wanted to enter the market, but with massive year-over-year housing appreciation sellers stood idle and constrained the supply of housing. While buyers re-entered the market by summer’s end, Lavoie says... [read more]

Real Estate is Driving Consumer Optimism says Nanos

Tuesday Nov 21st, 2017

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Optimism in Canada’s real estate market is giving consumers are warm feeling as we head into winter. The weekly barometer of Canadian consumer confidence from Bloomberg and Nanos shows an overall uptick in confidence to 59.46 for the week ending November 17, up from 58.83 a week earlier. Although short of the 61.19 recorded in August, the index remains well above the 2017 average of 58.41. “Over the past four weeks positive views on the future value of real estate and the... [read more]

Transit Investment Creates Great Opportunity for GTA Says Report

Wednesday Nov 08th, 2017

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The Ontario government’s investment of more than $160 billion over 12 years, coupled with developers’ investment in residential and commercial real estate will help the GTA’s projected growth in the next 25 years. A report from Avison Young says that there is significant opportunity for development and investment created by the growth areas around transit nodes in the GTA where there is a confluence of residential and commercial demand. "Our topical report profiles... [read more]

GTA Market Watch | October, 2017

Tuesday Nov 07th, 2017

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Toronto Real Estate Board President Tim Syrianos reported 7,118 residential sales through the Bolton, Caledon, Beeton, Tottenham, Maple, Nobleton, Woodbridge, Vaughan & Greater Toronto Area MLS® System in October 2017. This result represented an above-average increase between September and October of almost 12 per cent, pointing to stronger fall market conditions. On a year-over-year basis, October sales were down in the Greater Toronto Area® compared to 9,715... [read more]

Toronto Home Sales See Above Average 12% Monthly Jump in October

Friday Nov 03rd, 2017

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Toronto area home sales rebounded by 12 per cent from September to October, pointing to a stronger fall market after a policy-driven pullback from a frenzied market that peaked earlier this year. The Toronto Real Estate Board said Thursday that 7,118 homes were sold in October, up from the month before but down 27 per cent from the same month last year. "Every year we generally see a jump in sales between September and October. However, this year that increase was more pronounced... [read more]

What You Need to Know About Interim Occupancy

Thursday Nov 02nd, 2017

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You’ve been looking at floorplans and picking out finishes, but when it comes to buying your new condominium unit, what you really want to know is when you can move in. But, did you know that even when you get the green light to move in, there’s a good chance this isn’t the date that your home finally becomes yours? You may have to wait a little longer for that. Continue reading for a guide to occupancy terms and dates — and what they mean to you. Interim... [read more]

Economy Looking Strong as Provincial Gap Narrows

Tuesday Oct 31st, 2017

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The Canadian economy is expected to end the year with growth of 3.1% with some positive expansion of regional economies. BMO’s Blue Book forecasts 2017 to match the strongest growth in Canadian GDP since the financial crisis and some positive trends for the provinces. "The big story at the regional level is a narrowing gap between the best and worst performers, as the recession fades in oil-producing provinces, while British Columbia and Central Canada should moderate after a... [read more]

Bank of Canada Holds Rate, Suggests More Hikes Likely at More Cautious Pace

Wednesday Oct 25th, 2017

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The Bank of Canada left its benchmark interest rate unchanged Wednesday October 25, 2017 following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace. In it's scheduled announcement, the central bank said it held off this time in part because it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation. To make its case, the bank also pointed to the substantial, persistent unknowns around geopolitical... [read more]

Toronto Condo Prices up 22% Since Last Year

Tuesday Oct 24th, 2017

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Condos in Toronto were selling at 22% more in the third quarter of 2017 compared to a year earlier. The Toronto Real Estate Board said Monday that the average selling price of a condo was $510,206, up from $415,894 in the third quarter of 2016, based on sales through the board’s MLS system. “The condominium apartment market segment has exhibited the strongest average rates of price growth since the spring, relative to other major market segments,” said TREB president Tim... [read more]

OSFI Says Stress Test, Other Lending Rule Changes Will Start Jan 1, 2018

Thursday Oct 19th, 2017

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OSFI has published its update for the tightening of mortgage lending regulations known as Guideline B-20 and set the date that it will apply. The revised Residential Mortgage Underwriting Practices and Procedures will take effect from January 1, 2018 and include several key changes that the regulator says is part of its expectation that federally-regulated mortgage lenders remain vigilant in their underwriting practices. Stress test - the minimum qualifying rate for uninsured mortgages... [read more]

Why a Real Estate Lawyer Matters

Tuesday Oct 17th, 2017

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For the most part, home buyers bring on a realtor when they are looking to find a new home. But connecting with a real estate lawyer before the deal is done is important, too. Most buyers understand that once they sign the purchase agreement, a real estate lawyer can be retained to perform a title search, register the deed and transfer the funds. However, there are good reasons to bring a lawyer into the buying process even before the agreement is signed. Here are three: Protect your... [read more]

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]

Retiring Early with Real Estate

Tuesday Oct 10th, 2017

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Let your portfolio work for you: One investor gives his tips to become completely financially independent at any age. By Sve Pavic, fulltime investor Millennials have it tough financially- we’ve been told if we go to a respected University, study hard and get good grades we will land a great paying job. The reality? You graduate with loads of debt with no assistance or prospects of getting a great job and you return for more schooling thinking it will solve the problem. To add salt... [read more]

National home prices up 2%!

Tuesday Oct 10th, 2017

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Canadian home prices increased 2% in July, driven by the continued increase in condo prices in Toronto. The latest Teranet-National Bank House Price Index shows that the rise in Toronto was 2.1% but with condos excluded there was a decline of 1.6%. The index compares prices now against a base of 100 for June 2005. For Toronto, it stood at 254.93 in July, meaning prices are up 154.93% since June 2005. Vancouver continues to lead the index at 265.77 and was up 2.8% in July; and 8.56%... [read more]

Toronto housing market downturn to be short lived

Tuesday Oct 10th, 2017

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The recent downturn in Toronto's real estate market, brought on after Ontario introduced measures this spring including a foreign buyers' tax, is expected to be brief, the federal housing agency said Wednesday. Property prices in the city _ which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board _ should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp.... [read more]

New Condo Rules for Ontario taking effect this Fall

Tuesday Oct 10th, 2017

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New protections for condo owners and rules for managers and directors in Ontario are taking effect this fall. Government and Consumer Services Minister Tracy MacCharles says more than one in 10 people in the province live in a condo and more than half of the new homes under construction are condos. Starting this fall, new rules will make it easier for condo owners to participate in owners' meetings and will make it easier for them to access records of their condo... [read more]

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