Home prices across the country have increased, especially in popular urban areas such as Toronto and Vancouver. Many Canadians have felt they have either been completely priced out of the market, or have to settle for a home vastly cheaper than their dream home. It seems many prospective homebuyers are becoming fed up with the […]
Announcements
Home Sales and New Home Listings Across the GTA Saw a Steep Decline in November
Home prices across the Greater Toronto Area (GTA) continue to increase, but sales and new home listings have fallen dramatically last month. The Toronto Real Estate Board (TREB) released its Market Figures Report for the month of November, and while the average selling price of a home was up 3.5 per cent (to $788,345), home […]
City
Housing Supply and Demand Imbalance Remains A Pressing Issue As National Vacancy Rate Falls to 2.4%
Demand continues to outpace housing supply across Canada, as national vacancy rates drop for the second year in a row. According to Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Survey report released last Wednesday, the vacancy rate across the country was 2.4 per cent, down from 3 per cent last year. The drop, reads […]
Announcements
Why Ontario’s Growth Plan Has Affected Land Supply And Housing Affordability: New Study
Lack of supply, increase demand, population surges, and skyrocketing home prices proves that Toronto’s housing market has been through loops over the past few years and according to a new study, growth policies implemented by the former provincial government may be the culprit. The Building Industry and Land Development Association (BILD) in conjunction with Malone […]
Announcements / City
Thinking Of Moving To A Suburb Because Home Prices Are Cheaper? Well, You May Want To Think Again…
If you’re looking to buy a home and are completely priced out of the downtown Toronto core, you’re probably taking a gander at properties located in the outskirts – somewhere in a more affordable area where the sale of a home won’t burn a hole in your wallet. Turns out, suburban areas may not be […]
City
GTA Home Prices For The Month of October Up 3.5% Year-Over-Year
Despite little fluctuation month-over-month by home sales across the Greater Toronto Area (GTA), sales within the condo and semi-detached market over the past year drove up overall prices in October. According to the latest Market Report by Toronto Real Estate Board (TREB), the average selling price was $807,340 in October, up 3.5 per cent from […]
Announcements
83 Per Cent of Millennial Home Buyers Prefer Detached Homes Over Condos…If Money Wasn’t An Issue
A new report released last week by Sotheby’s International Realty Canada and Mustel Group has revealed that 83 per cent of young, urban home buyers prefer to own and live in a single detached home rather than any other type of housing – if price wasn’t an issue. Contrary to popular belief, only 5 per […]
Announcements
Canada’s Housing Market Still Considered Highly Vulnerable, Will It Ever Ease?
Despite decelerating home prices, Canada’s housing market is still considered “highly vulnerable” according to a recent Housing Market Assessment (HMA) by Canada Mortgage and Housing Corporation (CMHC). The HMA, which measures four main factors that contribute to housing market volatility (overheating, price acceleration, overvaluation, and overbuilding), has continued to indicate a high degree of vulnerability […]
City
Luxury Home Sales Fall and Luxury Condo Market Soars as Baby Boomers and Millennials Enter The Market
Unlike the luxury home market, the luxury condo market is beginning to see surging sales, as Baby Boomers begin to downsize and Millennials look to upgrade to more lavish condos. According to a recent report by RE/MAX, the sale of luxury detached homes (priced from $1 million to $2 million) in Toronto and Vancouver fell […]
Announcements
Renting A Condo In Toronto Just Got More Expensive…
Looking for an affordable condo for rent in Toronto? Well, you’ll need to keep looking because the cost of renting a condo in the city just reached an all-time high. According to a recent report from Urbanation Inc., the average monthly rent for a condo increased 7.6 per cent in the third quarter to $2,385 […]
City
Housing Supply Shortage Remains a Pressing Issue: TREB
Home sales and selling prices across the Greater Toronto Area (GTA) saw a modest increase in September, according to the last Market Figures report released by the Toronto Real Estate Board (TREB). Home sales climbed 1.9 per cent, while the average selling price increased by 2.9 per cent (to $796,786 from $774,489) when compared to […]