Real estate across Canada

These are the latest figures from the Canadian Real Estate Association.  These are the one month, one year, 10 years, and 15 years’ increases in value, in single family properties and in condo apartments.       

Tax changes and the small business world…

Tim Cestnick July 21, 2017 Ever since the 2017 federal budget in March, when the government announced that tax changes affecting private corporations would be coming, I’ve been feeling queasy. Well, the proposed tax changes were announced by Bill Morneau, the Finance Minister, on Tuesday. And ugly they are. Here’s a primer on the potential […]

Toronto market cools, creates sticky situations

Globe & Mail June 10, 2017 With a new home and a baby on the way, this summer was meant to be joyful for Pickering teacher A.J. Smith. Instead, he’s found himself squeezed by the Greater Toronto Area’s housing-market slowdown, watching tens of thousands of dollars evaporate from the value of a house he needs […]

And the Toronto spring market is now over…

The Toronto spring real estate market came on hot and furious.  It was sooner than normal, it was hotter than normal, average selling prices zoomed skyward and now it’s over.  The summer market is upon us, with buyers able to breathe, make calm decisions and buy without impulse decisions.   Here’s the chart for 2007-2017 […]

Non Resident Speculation Tax

Although the Province has just announced the 15% Non-Resident Speculation tax, there are already more questions than answers. Here is what you need to know: 1. The tax is for non-residents of Canada buying 1-6 residential units in the Golden Horseshoe area of Ontario. This tax is in addition to any Land Transfer Tax payable. […]

Asbestos – does it matter?

What is Asbestos? Where is it? Asbestos was often used in the construction of residential properties, particularly in the 1950s to 1970s. Asbestos was primarily used as an insulator because it is heat resistant and has a high tensile strength. It was contained in products such as pipe and duct insulation on heating systems, sealers […]

Toronto demographics…

The Toronto Region’s population base is one of the fastest growing in Canada; growth between 2001 and 2014 equalled 87% of the total population of Calgary in 2015. More than half of the global population (54%) now lives in cities, and by 2050 it is expected to grow to 66%. Toronto has more than twice the proportion of recent […]

Higher tax on real estate investments?

Higher tax on capital gains unlikely to deter property investment There’s speculation that the federal budget coming Tuesday will include a tax measure that would hit people buying and then selling investment properties in hot housing markets. That’s not how higher taxes on capital gains would be billed, but people buying investment properties in addition […]