New short-term rental regulations coming in 2018
The City of Toronto just announced a new bylaw to regulate short-term rentals. The new bylaw was mostly brought on by the growth of Airbnb in Toronto. The bylaw allows homeowners and tenants to operate short-term rentals in their principal
Low evidence of overbuilding in Toronto
The Canada Mortgage and Housing Corporation (CMHC) just released its housing starts report for November 2017, announcing a surge in multiple-unit construction, partially thanks to Toronto. The housing starts trend for all of Canada last
Home sales and average price drop in November
The Toronto Real Estate Board (TREB) released its monthly resale figures for November 2017, announcing a drop in sales and average selling price. There were 7,374 sales in the Greater Toronto Area (GTA) reported through the MLS system last
More households investing in renovations
Statistics Canada recently released its quarterly report on residential construction investment, announcing a significant year-over-year increase. In total, $35.8 billion was invested in residential construction in the third quarter of 2017,
Rental construction needs to double to satisfy demand
The Canada Mortgage and Housing Corporation (CMHC) recently released the results of its Rental Market Survey, and Urbanation, the Greater Toronto Area’s (GTA) source for condo market intelligence, quickly published a
How can Ontario sustain a healthy rental vacancy rate?
The Canada Mortgage and Housing Corporation released the results of its Rental Market Survey, announcing a decline in the national average vacancy rate, offsetting two years of increases. The average vacancy rate of purpose-built (primary)
4 ways to build more affordable housing
According to a recent report from CIBC, the Greater Toronto Area’s (GTA) housing market is expected to become even less affordable in the coming years. So, it’s crucial that the new home building industry, municipalities, and the
Another record month of new condo sales in the GTA
The Building Industry and Land Development Association (BILD) released its new home sales figures for October 2017, announcing a record high month of new condo sales in the Greater Toronto Area(GTA). There were 5,377 new home sales in
The $40 billion National Housing Strategy
Prime Minister Justin Trudeau, in Toronto, and the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, in Vancouver, just announced a 10-year, $40 billion National Housing Strategy. The goal is to reduce
Expect housing starts to slow in 2019
Altus Group Ltd. says the cost of land in some areas of the Greater Toronto Area (GTA) has nearly tripled in the last five years, now accounting for roughly half the price of a new home. In 2011, it was just over a third. According to
