These were Canada’s hottest sellers’ markets in June
What are home buying conditions currently like across Canada? The latest data out from the Canadian Real Estate Association paints a picture of stability, as sales and prices remain relatively unchanged from last year.
OREA calls on political parties to ‘keep the home ownership dream alive’
With only a few months until the federal election, the Ontario Real Estate Association is calling on the four leading political parties to prioritize keeping the “home ownership dream alive.”
Without Toronto and Vancouver, the average home price in Canada is below $400,000
Though it seemed like the housing market was heating up last spring, on a national level, activity was a bit less exciting, according to the latest monthly report from the Candian Real Estate Association.
Average rent hits record high as vacancy rate improves
Though there was a slight increase in rental supply in the second quarter of 2019, it doesn’t mean rent got more affordable for tenants in the Greater Toronto Area.
Canadian home prices expected to rise this year, fuelled by Toronto real estate
If you were waiting for home prices to drop before buying, you may have missed your chance. There was a slight cooling period through 2018 and even earlier this year, but according to a new study, prices are on the rise.
Toronto housing starts remain steady through June
According to the Canada Mortgage and Housing Corporation’s monthly housing starts report, on a national level, starts trended up in June 2019 with 205,838 units, compared to 200,530 in May.
Housing variety is key to improving affordability
There's a change in the air. There’s talk of prefab housing being piloted to combat homelessness. Laneway suites will soon be popping up across all of Toronto. Sidewalk Labs unveiled plans for mass timber building designs and prefab construction.
Rightsizing boomers putting pressure on the luxury condo market
Due to strong population gains, a stable labour market, healthy employment rate and increasing household budgets, the GTA’s top-tier market was pretty active in the first six months of the year.
3-bedroom condo leases in the Greater Toronto Area soar by 47%
According to the Toronto Real Estate Board’s second quarter data, there were 9,749 condos rented through the MLS system in the second quarter of the year. This is nearly a 15% year-over-year increase.
Ontario home prices need to drop more than $300,000 to be affordable for millennials
A new study by Generation Squeeze in Vancouver found average home prices in Canada need to drop by nearly 50% for a typical 25-34 year-old (let’s call them millennials) to afford an 80% mortgage on an average priced home. Or, their earnings need to double
