Affordability has been a major topic of concern in Vancouver and Toronto, Canada’s largest markets. According to a new report, Vancouver affordability is at a critical level while Toronto’s affordability still poses a major challenge despite improvement. RBC released their Housing Trends and Affordability report earlier this week, and illustrates that while the affordability measure […]
The results are in, and after years of back and forth, Toronto has finally tied Vancouver as the most expensive city to live in Canada. According to Mercer’s 24th Annual Cost of Living Survey, released Tuesday, Toronto jumped ten spots on the chart (to 109) and is now equally as expensive to live in as […]
Toronto’s condominium sector is becoming the leading market for new home buyers, and as a result is forcing prices to jump to 25 per cent to $758,370. According to a recent report by the Building Industry and Land Development Association (BILD), the reason for the increase in prices within the condo sector is due to […]
Amidst months of above-average activity, the pace of housing starts for the month of May fell sharply to 195,613 units from 216,775 units this past April, according to a recent report by the Canada Mortgage and Housing Corp (CMHC). The decline seen in May was due to drastically fewer condos, apartments, and town homes being […]
The Bank of Canada released its Financial System Review last week, and while instability in the housing market, alongside high household debt, remains to be one of the biggest vulnerabilities to Canada’s economy, there may be subtle signs of easing. Government interventions, such as higher interest rates and tighter mortgage lending guidelines, have played a […]
The provincial election is one day away and according to a recent poll done by Ipsos, a majority of voters across the Greater Toronto Area (GTA) want the next elected party to put focus on housing policies that will increase supply and reduce demand in the region as well as decreasing provincial and municipal land […]
On Monday, The Toronto Real Estate Board (TREB) released its Monthly Market Figures for the month of May, and home sales across the Greater Toronto Area are down, once again, when compared to the same time last year. According to the report, the number of home sales for May was 7,834 units, a 22.2 per […]
Last week, CIBC forewarned that the number of mortgages it will grant in the back half of the year will be reduced by 50 per cent. The bank, which faced a serious number of cutbacks for mortgage applications during the first half of the year, believes that the new lending guidelines (including stress test for […]
Millennials are outnumbering Baby Boomers and are quickly becoming the fastest growing cohort in the Greater Toronto and Hamilton Area (GTHA). As the growth of this generation continues, so does the demand for housing. According to a new study released last week by Ryerson University’s Centre for Urban Research and Land Development, 500,000 Millennials will […]
Outdated zoning bylaws, deferrals on permit approvals, amplified development charges, and land-use restrictions in Southern Ontario’s Greenbelt, have added nearly $168,000 to single-detached homes in the Greater Toronto Area (GTA), and $644,000 in Vancouver – the two (already) priciest cities in Canada. According to a new study released last week by C.D. Howe Institute, government […]
