December 2020 - Posts
Yesterday, Altus Group released its seventeenth annual Canadian Property Tax Rate Benchmark Report, a study of the commercial and residential property tax rates in eleven of Canada’s major population centres. The report found that for the third
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The right time to buy things is usually when other’s aren’t, which is why I’ve felt that this year was a great time to buy a centrally located condo. Cities aren’t going anywhere. This isn’t their first pandemic. Downtown
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in finance - investing, we need to think *exponentially*, not *linearly*. Money compounds. Growth doesn't happen at a constant pace; it *accelerates* over time. Most of us are not programmed to intuitively "get" compounding — over
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It goes without saying that 2020 was an unprecedented year, and that the ripple effect on the housing market was swift and notable. Across the country, home buyers, sellers, and renters re-evaluated their housing priorities as they navigated the COVID-19
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Last week, the Canadian Real Estate Association (CREA) released its latest resale housing market forecast, which revealed that — despite turbulent spring months — homebuyers are on track to set a record for activity in 2020, with some 544,413
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While there’s no doubt that downtown condos were left in the dust when suburban single-family home sales and prices took off during Canada’s economic recovery, the chances that urban high-rises will see a significant price drop over the next
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December 15, 2020 – The national average price is forecast to rise by 9.1% in 2021 to $620,400. Average price trends across Canada in 2021 are generally expected to resemble those in 2020. Shortages of supply, particularly in Ontario and Quebec,
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A Canadian home price tracker known to be one of the best measures of price appreciation just experienced a record-breaking November increase. The Teranet-National Bank House Price Index rose 0.9 percent last month over October’s reading, the strongest
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While home sales across the country declined slightly in November from the previous month, they were up a healthy 32 percent over the same time last year. In other words, it’s the type of stellar performance that’s become standard during 2020’s
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While downtown condos saw price declines last month, a few suburban condo markets in the Toronto region still recorded healthy price growth. Oakville, Oshawa and Burlington all posted resale condo price gains above 10 percent in November, while Brampton
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another year has come and nearly gone, and one thing that we’ve learned this year is the resilience of Ontario’s real estate markets, as they’ve managed to stay hot despite the latest pandemic restrictions rolled out by the provincial
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New townhomes recorded robust sales numbers in several markets across Canada this year, as consumers looked for affordable lower density options amid the pandemic. Real estate data firm Altus Group published a report this month highlighting strong new
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Average condo prices in the City of Toronto are up about 150%. But… Land costs are up 160%. Soft costs are up 118%. Construction and related costs are up 91%. Financing costs are up 93%. Government fees, charges, and taxes are up 413%. And development
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The Toronto housing market had a lot working against it this November. The City of Toronto and neighbouring Peel region moved into the “lockdown” zone of the province’s tiered restriction framework, with non-essential businesses closed
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The Toronto housing market is closing 2020 in a way that feels well-suited to the year: some highs, some lows, and not a whole lot of clarity on what’s to come. According to the newest report from RBC, the entire country saw strength in its housing
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With a steady stream of positive developments announced in the last month, it’s beginning to look like widespread deployment of one or multiple COVID-19 vaccines will pave the way back to normalcy for Canada’s housing market next year. Health
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This year, no one culd predict what would lie ahead for the housing market during the novel Coronavirus pandemic that spread across the globe like wildfire. For many, Canadians lost their jobs and were trying to live off government-assisted programs while
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TORONTO — HSBC says it will offer rates below one per cent for some mortgages, which rate comparison website RateSpy.com says is a record low for Canada. The bank is advertising a 0.99 per cent rate on its website for new five-year variable closed
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Canada’s pandemic-weary economy is poised to “take off like a rocket” in the latter part of 2021, according to CIBC World Markets deputy chief economist Benjamin Tal. Delivering his much-anticipated annual economic update during the
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The new condo market’s performance in October was slightly more reminiscent of spring 2020 than a typical busy fall season, as sales sank 32 percent from the previous year. The new Toronto region data, published today by the Building Industry and
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Against a tumultuous backdrop, the Canadian housing market put on a remarkable display of resilience in 2020. Now, as we enter the final stretch of this bizarre and challenging year, one of the country’s largest brokerages is forecasting more healthy
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