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December 2020 - Posts

Where are Canada's most taxed residential and commercial properties?
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 Read More...
Urbanation releases Q3-2020 market update — new condo sales reach record high
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 Read More...
Thinking exponentially and the rule of 72
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 Read More...
5 Housing Market Trends to Watch for In Canada in 2021
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 Read More...
Average Ontario Home Prices Could Rise More Than 16% in 2021
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 Read More...
Major condo price correction is unlikely despite collapsing demand: BMO
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 Read More...
Quarterly Forecasts
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, Read More...
Home prices post highest November increase in 22 years: Teranet
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 Read More...
Canadian home sales close to breaking all-time record in 2020
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 Read More...
3 Toronto suburbs saw condo prices rise over 10% in November
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 Read More...
The 35 Most and Least Competitive Real Estate Markets in Ontario
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 Read More...
Buyer demand for new townhomes surged across Canada in 2020: Altus
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 Read More...
Why have Toronto condos become so expensive?
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 Read More...
Toronto housing had “amazingly strong” November despite pandemic restrictions: RBC
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 Read More...
The Toronto Housing Market is on Fire, Except Where it’s Not
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 Read More...
COVID-19 vaccine deployment will shape Canada’s housing market in 2021
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 Read More...
Is it a good time to buy a house in Canada?
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 Read More...
HSBC offers mortgage rate below one per cent
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 Read More...
Canada’s economy ready to ‘take off like a rocket’: CIBC’s Tal
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 Read More...
New condo prices rise nearly 19% even as sales fall in October
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 Read More...
Listings shortage will push Canadian home prices higher in 2021: RE/MAX
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 Read More...