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.
Toronto’s Rail Deck Park takes another big step forward
The LPAT dismissed the appeal of the City Council-approved Official Plan Amendment 395, which designated the rail corridor from Bathurst to Blue Jays Way as future parkland and open public space.
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.
Kanye West is building prefab housing inspired by Star Wars
A recent cover story in Forbes broke the news that Kanye is working on a prefabricated housing project inspired by Luke Skywalker’s childhood home. Yes, Luke Skywalker. Not only is this post about Kanye...it’s also about Star Wars.
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.
Canada announces funding for green retrofits in Toronto and Hamilton
In a time when green programs are being cut in the country’s most populous areas, any bit of news about funding to improve energy efficiency is welcome.
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
