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November 2020 - Posts

Ending Density is not destiny
Back in March and April, there was a belief that big and dense cities were going to pose a serious problem in the fight against COVID-19. The narrative was that the benefits of urban density suddenly flip to glaring negatives during a pandemic. Elevators Read More...
Detached home building surged in Ontario last month amid skyrocketing demand
Home building activity across Ontario picked up in October, driven by significant growth in low-rise home construction. Housing starts for single-detached homes and semi-detached homes rose 14.2 percent and 29.4 percent, respectively, last month, according Read More...
Canadian households sitting on $90 billion surplus cash: CIBC
A surge in Canadians’ disposable incomes and a decline in their spending habits has resulted in approximately $170 billion of surplus of cash, $90 billion of which is tied up in households, according to a CIBC report. The COVID-19 pandemic was the Read More...
Interesting Market 2020
Strangely the Greater Toronto Real Estate Market has been spotty but active and there are options and opportunities as there are in any market. The number of listings has increased and we have had a flip-flop as the 905 activity surges over that in 416. Read More...
Toronto named tech hub of Canada and a hotspot for talent in North America
Though we're no longer set to be the home of one of the most technologically advanced neighbourhoods in the world, Toronto is still proving itself to be a huge force in the tech sector, and a hot spot for those in the industry. The city's scene Read More...
New lockdowns would hurt sales, but not home prices: Capital Economics
The biggest risk to Canada’s housing market in the near-term is new lockdowns in big cities that have seen COVID-19 infections surge in recent weeks. According to an economist with Capital Economics, restrictions that may be rolled out in the coming Read More...
Home prices record highest October increase in 22 years: Teranet
A widely watched Canadian home price index just posted its highest gain seen for the month of October in 22 years. The Teranet-National Bank Home Price Index rose 1.3 percent last month over September and 8.1 percent from the previous year. Ottawa-Gatineau, Read More...
North York Surpasses Toronto Proper as Priciest City in Canada to Rent 1-Bed Apt
It appears Toronto has been dethroned as the most expensive city in the country for average monthly rents for a one-bedroom after North York surpassed Canada’s largest city in October. On Friday, Rentals.ca and Bullpen Research & Consulting Read More...
10 new skyscrapers about to transform the Toronto skyline
Toronto is a city of soon-to-be skyscrapers. According to the 2020 North American Crane Index, we have the highest number of active tower cranes out of every other city in the continent, with 120 in the downtown core alone. And in a matter of years, those Read More...
Massive master-planned community with 6,600 new homes proposed for Scarborough’s Birchmount Park
A 25-acre expanse of properties located between St. Clair Avenue East, Kennedy Road and the Scarborough GO Train station could make way for a master-planned community. In late October, an Official Plan Amendment (OPA), draft plan of subdivision and rezoning Read More...
Toronto condo completions rose 124% this summer, construction activity remains near record high
Construction crews were busy completing work on 6,816 condo units across the Toronto region this summer. The third quarter total represented a huge leap over last year, rising 124 percent above the 3,038 units completed in 2019’s third quarter, Read More...
Government’s aggressive new immigration targets will be long-term boost for housing market
The federal government’s new immigration targets aimed at making up for this year’s newcomer shortfall will provide support to local housing markets across the country, especially in major urban centres. On October 30th, Canada’s government Read More...
10 one-bedroom condos in Toronto that cost more than $1 million
The events of 2020 have shaken up Toronto's real estate market something fierce, driving rent prices down by record amounts as new condo listings flood the market. But some things never change, it would seem — like the ridiculously high price Read More...
Condo prices just rose over 10% in 6 Toronto suburbs
Detached homes have been rightfully stealing the headlines with remarkable sales volume and sky-high price growth, but there are still some areas in the Toronto region that are seeing better than average condo price increases. While they, for the most Read More...
Record number of immigrants Canada-bound in 2021
The federal government intends to settle 1.2 million new immigrants over the next three years in a bid to catalyze economic recovery, and if there’s one sector of the economy that will benefit, it’s real estate. The COVID-19 pandemic has stifled Read More...
High Demand for Housing in GTA Will Continue Beyond COVID-19: TRREB
he temperatures may have cooled down, but the Greater Toronto Area (GTA) real estate market continues to heat up, with home sales up over 25% compared to October 2019, marking the fourth month in a row of year-over-year growth, according to the latest Read More...
Buying or selling a cottage? Be aware of the tax implications
Canadians are out in droves this fall in pursuit of a vacation home or cottage as the country hunkers down for a long winter amid the COVID-19 pandemic. However, both buyers and sellers need to keep tax implications in mind as the rules change when multiple Read More...
Investors rush to get out of pre-built Toronto condo deals
Real estate investors are increasingly trying to get out of closing on their newly built condos in the Toronto region, as rents plummet and banks toughen borrowing qualifications for rental properties. Selling the right to buy the new condo, also known Read More...
Detached home prices rose over 20% in 14 Toronto suburbs in October
From Oakville and Milton in Halton Region to Oshawa and Clarington in Durham Region, there were 14 Toronto suburban cities and towns that saw detached home prices rise over 20 percent in October. For the fourth consecutive month, the Toronto region’s Read More...
Toronto’s housing market broke another sales record in October
Just like clockwork, another month ended with Toronto’s housing market breaking a record for home sales, with October logging 10,563 transactions across the region. The October total was up more than 25 percent over the previous year and represents Read More...
Seven Ways COVID-19 Is Affecting Canadian Housing: RBC Report
Among the seismic shifts the pandemic has spurred across the Canadian economy, few are as profound as those that have rocked Canadian real estate. The battle to control the spread of COVID-19 has not only altered how and where Canadians work, but also Read More...
Canada’s housing market has fully recovered from pandemic shock: RBC
Even the most bullish housing observers would have had a tough time anticipating just how quickly Canada would bounce back from the pandemic shock that froze up market activity in the late winter and spring. But, after what RBC Senior Economist Robert Read More...
Canadian home sales up nearly 46%, shattering September record
It was another record-breaking month for the Canadian housing market. September sales rose 45.6 percent over the previous year with no obvious signs of slowing after several months of remarkable levels of buyer activity. Sales rose in almost all Canadian Read More...
From Downtown to ‘Urban Centre’, Why Mississauga Could Be the Move to Make
Buyers flocking to the 905 also want an urban experience, making condos in the growing urban centre of Mississauga the perfect choice. Mississauga real estate is on a tear, reflecting the considerable efforts the city has put into its livability factor, Read More...
Bank of Canada plans to keep interest rate near zero until 2023
Bank is assuming no widespread lockdowns are coming back, and that there will be a vaccine by 2022 The Bank of Canada says it has no plans to change its benchmark interest rate until inflation gets back to two per cent and stays there, something it says Read More...