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October 2018 - Posts

Flippers might not be the problem in Toronto and Vancouver
Often blamed for overheating in major markets, flippers actually represented only a minor proportion of home transactions in Toronto and Vancouver, according to a Bloomberg analysis that looked at Teranet Inc.’s land and housing registry. In Toronto, Read More...
New home sales in the US down to near 2-year-low
Housing affordability issues south of the border have driven down sales of newly built homes across the US. Figures released Wednesday by the HUD and US Census Bureau shows a 5.5% decline in new home sales in September compared to August (which was revised Read More...
Commercial property owners are overburdened with tax says Altus
Owners of commercial real estate are carrying a disproportionate property tax burden across Canada according to a new report. The Altus Group’s analysis in association with the Real Property Association of Canada (REALPAC) looks at property tax Read More...
GTA new home sales jumped in September
There was an improvement in sales of newly-built homes in the Greater Toronto Area last month. Data from the Building and Land Development Association (BILD) shows that 1,747 new homes were sold in September, up sharply from the 974 in August. There was Read More...
Interest rate announcement left out an important word
The Bank of Canada’s decision to increase interest rates to 1.75% Wednesday was not a surprise to many, but an omitted word is perhaps more so. Dr Sherry Cooper, chief economist of Dominion Lending Centres says it was interesting that Governor Stephen Read More...
New ‘dot real estate’ domain names to launch next month
A new domain name suffix will be opened up to all in November following a pre-registration period for Realtors. The .realtor designation will be available through around 20 domain registrars including GoDaddy and get.realestate and unlike the .realtor Read More...
Avison Young set for global Day of Giving
Staff at Avison Young will join together for the firm’s fifth annual global Day of Giving on Thursday. The Toronto-based real estate firm’s initiative began in 2014 and this year will take place across 84 offices as part of the company’s Read More...
Alberta announces ambitious shipping container housing project
A new scheme aims to create affordable rental housing in Alberta with plans for similar projects nationwide. The Alberta Rural Development Network’s (ARDN) Sustainable Housing Initiative (SHI) will see the development of at least 8 energy-efficient Read More...
Luxury condo sales are booming says RE/MAX
Sales of homes in the $1-2 million price range are the focus of a new report from RE/MAX. It found that sales of luxury condos have increased in 2018 compared to 2017, especially in Canada’s large urban areas. In Toronto there was a 2% rise in luxury Read More...
USMCA has given consumer confidence a boost
The new trilateral trade deal between Canada, the US, and Mexico has prompted a rise in confidence among Canadian consumers. The weekly Bloomberg/Nanos Research Canadian Confidence Index has increased to 57.43 compared to 55.65 four weeks ago and is up Read More...
Canadian CRE is an “untapped market” for Korean capital
A Korean real estate fund manager has made its first large loan secured on Canadian commercial real estate. KTB Asset Management has originated a C$165 million non-recourse, 5-year fixed-rate loan secured by Hotel X Toronto. The 404-guest-room hotel is Read More...
BC brings in international experts for real estate probe
Two internationally renowned and recognized experts on money laundering have joined the panel investigation illicit activity in British Columbia’s real estate market. Tsur Somerville – from the University of British Columbia’s Sauder Read More...
1 in 3 fear rate rises could move them towards bankruptcy
With the Bank of Canada widely expected to increase interest rates Wednesday, a poll from debt advisors MNP shows rising concern over higher rates. The survey, conducted by Ipsos, found that 1 in 3 Canadians are worried that rising interest rates could Read More...
More bad news for builders
Homebuilder stocks fell after Bank of America Merrill Lynch cut its recommendation to neutral from buy on three of the biggest companies -- Toll Brothers, PulteGroup and NVR -- and RBC offered fresh skepticism about growth and affordability. Toll Brothers Read More...
Mississauga Real Estate Board forges deal with Ontario property portal
The Mississauga Real Estate Board (MREB) and real estate portal Real Estate Wire (REW) recently announced their partnership to provide wider home options for customers and to increase agents’ prominence, especially in the home buying and selling Read More...
Edmonton would-be buyers guardedly eyeing their purchases
In its latest House Price Survey and Market Survey Forecast, Royal LePage reported that lower housing costs observed in the third quarter could be attributed to a general guardedness among the Edmonton market’s would-be buyers. “It’s Read More...
IN FOCUS: Getting paid on-time: A landlord’s guide to rental income The new service that is a game changer for landlords
Get Digs™ is a digital service designed to improve the way renters and landlords pay and receive rent payments. Renters can pay their rent by the method of their choosing: credit card, VISA Debit, Debit Mastercard, Interac e-Transfer, or cheque, Read More...
Multiple offers slowing down in non-Toronto ON markets
Price growth across the Kitchener/Waterloo/Cambridge region showed sustained robustness in Q3 2018, according to the Royal LePage House Price Survey and Market Survey Forecast released earlier this week. Royal LePage Grand Valley Realty broker and owner Read More...
New tax may stifle investment in B.C., fears industry
The British Columbia government introduced a speculation and vacancy tax this week, sparking fears that it will stymie investment in the province. The would impose a tax of either 0.5%, 1% or 2%, depending on the assessed value of a vacant property in Read More...
America's largest home mortgage lender is coming to Canada
The Income You Need to Buy a Home Across Ontario Cities Quicken Loans, the largest home mortgage lender in the US, is to open a new office in Canada. The firm including its ‘Family of Companies’ is leasing more than 9,000 square feet of office Read More...
The Income You Need to Buy a Home Across Ontario Cities
What is the income gap between the salary required to purchase an average home and actual household incomes across major Ontario cities? Using August 2018 average home prices from the Toronto Real Estate Board and other local Ontario real estate boards, Read More...
Canadian economy to slow to 1.4% by 2020 says Deloitte
Canada’s economy is in for a few years of reduced growth according to a new report from Deloitte. The outlook shows a slump in economic growth from 3% in 2017 to 2% this year and to 1.4% by 2020. It cites high household debt, rising interest rates, Read More...
Real estate industry urges Ford to deliver housing promises
Ontario’s premier needs to push ahead with the assistance promised to the province’s potential home buyers. The Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers Read More...
BCREA: slower sales pace continued in September
Home sales in British Columbia remain weak following the past few years of growth. Across the province there was a 33.2% decrease in sales in September compared to a year earlier with a total of 5,573 units according to the latest data from the British Read More...
GTA condo rents rise amid supply challenges
Condo rents in the Greater Toronto Area increased 9.4% year-over-year on a per square foot basis in the third quarter of 2018. Urbanation reports that tight supply of rental units pushed the average rent up to $3.26 per square foot although average monthly Read More...
Canadian housing starts fall to lowest in almost two years
Canadian housing starts fell to the lowest in almost two years in September, led by a drop in British Columbia. Builders began work on an annualized pace of 188,683 units last month, down 5.1 percent from August, Canada Mortgage and Housing Corp. reported Read More...
The power of fear
While fear keeps us from danger, it also can keep us from many other amazing experiences. Your palms are sweaty. Your stomach has that light, unsettled feeling. Your mind races eagerly from thought to thought. Fear is an innate part of the human experience Read More...
CMHC releases Sept. housing starts data
The annual pace of Canadian housing starts fell to their lowest level in nearly two years in September. Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate came in at 188,683 units last month, down from 198,843 in August. Thomson Read More...