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July 2020 - Posts

Toronto’s new single-family home market recovering faster than condos
New single-family homes sold by developers across the Toronto region in June beat new condo units sold during the same period by a wide margin. Last month’s data, published today by the Building Industry and Land Development Association (BILD), Read More...
Will Bill 197 make condos more expensive for Ontario home buyers?
Ontarians may still be wary of going back to the office, but the provincial legislature has had a very busy July. After passing the controversial Bill 184 on July 6, and the far less contentious Bill 159 eight days later, the Ontario government passed Read More...
New Home Sales in GTA Heat up Again in June: BILD
Following two months of “historically slow” sales as a direct result of the COVID-19 pandemic, new home sales are starting to surge again in the Greater Toronto Area (GTA). In fact, during the month of June, sales of new single-family homes Read More...
New legislation allows for eviction orders without Landlord and Tenant Board hearing
Province says changes meant to encourage negotiated settlements between landlords and tenants Newly passed changes to landlord/tenant law will permit ex parte eviction orders, allowing landlords to obtain an eviction order without appearing before the Read More...
These are the average rents for condos and apartments in Toronto by neighborhood
Average rent prices for condos and apartments in Toronto have been consistently declining thanks to the effects of the COVID-19 pandemic, and a new report suggests that trend is ongoing in many of the city's neighbourhoods. According to the Toronto Read More...
Downtown condo listings surge in June as former Airbnb units hit market
Preferences around home buying have continued to shift through the course of the pandemic, particularly among those who aren’t even on the property ladder yet. A quarter of Ontario renters who are currently active in the real estate market are now Read More...
Central Toronto neighbourhoods see home prices jump 26% in 2020’s first half
Despite the unprecedented turbulence real estate markets have experienced over these last few months, prices for single-family homes in some of Toronto’s most sought-after communities have shown few signs of wavering. A new market report released Read More...
Home prices forecast to rise 8% by 2022: Capital Economic
A surprisingly strong showing from the Canadian housing market in June is leading economists to swiftly revise their forecasts as homebuyers returned to the market in larger than anticipated numbers. June market data published last week by the Canadian Read More...
York University Campus in Markham Gets Green Light to Start Construction
York University has officially received the green light from the provincial government to move forward with its long-awaited Markham Centre Campus (MCC). Construction for the campus, which will focus on courses geared toward themes of technology and entrepreneurship, Read More...
House prices have soared in these Toronto neighbourhoods in 2020
Detached homes around Regent Park and Scarborough's Birchcliff saw the biggest price gains in Toronto's pricey real estate market, according to RE/MAX Regent Park and Scarborough’s Birchcliff are some of the neigbourhoods where Toronto house Read More...
Toronto homebuyers won’t leave city for suburbs as pandemic drags on
Throughout the COVID-19 pandemic, homeowners have had a lot of time to reassess what they need in a home. For some, this has meant considering a new property outside of the city, somewhere that might offer more space for fewer dollars. While there’s Read More...
Toronto’s rental vacancy rate hits highest level in over 5 years
When it comes to competition in the market, Toronto’s renters are finally getting some relief as the city’s vacancy rate within purpose-built apartments increased to 1.8 percent in the second quarter of 2020, the highest level in over five Read More...
Interest rates won’t rise until at least 2023
The pandemic has forced most of us to learn to live with a good dose of uncertainty when it comes to our ability to make even short-term plans. But despite being faced with unprecedented challenges brought on by COVID-19, Canada’s central bank still Read More...
Interest in home buying surges among Ontario renters amid pandemic: OREA
Preferences around home buying have continued to shift through the course of the pandemic, particularly among those who aren’t even on the property ladder yet. A quarter of Ontario renters who are currently active in the real estate market are now Read More...
Home price gains in June erase almost all pandemic losses
Canada’s housing market came roaring back in June, with country-wide home sales tracked by the Canadian Real Estate Association (CREA) returning to normal levels for the month. Toronto, Montreal and Vancouver led the way in sales gains for June, Read More...
Home prices forecast to rise 8% by 2022: Capital Economics
A surprisingly strong showing from the Canadian housing market in June is leading economists to swiftly revise their forecasts as homebuyers returned to the market in larger than anticipated numbers. June market data published last week by the Canadian Read More...
Toronto Luxury Home Prices Up 11.9% in June From 2019: Report
As the COVID-19 curve continues to flatten across the country and more Canadians are returning to the housing market, a new report from Engel & Völkers reports a notable spike in demand for luxury real estate. The Canadian Luxury Real Estate Read More...
Average Home Price Rose Over $100,000 in 9 Ontario Markets This June: REPORT
The latest monthly statistics released by the Canadian Real Estate Association (CREA) for June highlighted that home sales and new listings rebounded to normal levels across Canada last month, following a period of historic lows this April and May due Read More...
Furnished apartments flood Toronto rental market as Airbnb regulations tighten
Furnished condo rental listings offered for standard 12-month leases in the Toronto region increased 52 percent in the second quarter of 2020 compared to the same time last year, according to new data released this week by Urbanation. There were 1,877 Read More...
Hamilton housing prices up nearly 10 per cent despite pandemic
Aggregate price of a home increased 9.1 per cent to $592,059 in the second quarter of 2020, survey finds Hamilton home prices are up nearly 10 per cent despite the COVID-19 pandemic, a new survey by Royal LePage has found. According to the Royal LePage Read More...
Toronto's Cheapest Neighbourhoods To Buy A Home Are All In The City's East End
Buying a house can be overwhelming, especially in Canada's largest city. But, depending on the area, it can actually be pretty attainable. If you're looking for affordable housing in Toronto, the top five neighbourhoods with the cheapest average Read More...
Canadian Cities Slow New Home Building, But Toronto Starts Rip Over 40% Higher
Canadian cities are starting fewer new home building projects during the pandemic. Canada Mortgage and Housing Corporation (CMHC) data shows urban housing starts fell in Q2 2020. Despite a general slowdown, Toronto continued to push to a multi-year high Read More...
Toronto real estate market comes roaring back as prices up as much as 22 per cent
Any chance of a drop in real estate prices associated with the COVID-19 pandemic already seems a thing of the past as the Toronto market came roaring back last month, according to the June sales figures provided by the Toronto Regional Real Estate Board. Read More...
Toronto home prices rise nearly 12% in June, sales storm back
Toronto homebuyers appeared unfazed by the tumultuous spring and returned to the market in droves in June. There were 8,701 home sales in the Toronto region last month, according to data released today by the Toronto Regional Real Estate Board (TRREB). Read More...