The pesky little Toronto condo problem

The condo market in downtown Toronto took quite a hit with COVID.  AirBnBs were immediately shut down.  Owners suffered, so they were forced to sell.  The market was flooded with listings, which, in turn, affected prices.  Well… that only took a few short months to short out.  Things are back to a Toronto-normal again.  High […]

Risk of condo market overheating: CMHC

Unstoppable condo sales put Toronto market at risk of overheating: CMHC TORONTO STAR – JOSH RUBIN FEBRUARY 20, 2020 The real estate market in the Toronto area is in danger of overheating, with condos driving much of the momentum, according to a new report from the Canada Mortgage and Housing Corporation. The CMHC’s quarterly market assessment, […]

The market is hot, hot, hot…

The market is hot, hot, hot! February so far in the GTA: 77 offers, 43 offers, 28 offers, 14 offers, 17 offers, etc. etc.  Buyers are lined up. Here are the stats for the end of January. Single-family homes continue to be strong. Condos are holding and climbing, and condos in the downtown core are […]

Toronto condos being snapped up by tenants..

Intense competition means condos are being rented within 10 days of listing at average rents of $2,219 Ontario’s expanded rent control rules, in place since April, couldn’t stop a 10.3% hike in condo rents over the past year, according to a new study. Condo research firm Urbanation Inc. said Thursday the average index rent in the […]

Condo prices still up over 2016

As expected, sales in June 2017 were down year-over-year, although prices were again moderately up, even with more new and active listings coming into the market. “Significantly, condo resale prices soared in pricing by 23.2% in the 416 and 21.4% in the 905, more than double the increase of detached homes, semis and town homes.”

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 […]

China restricts home buyers

TIANJIN – The northern port city of Tianjin announced measures Friday to restrict home owners from buying new homes to cool the property market. Starting Saturday, single adults (including divorced individuals) and families whose members do not have permanent residence permits, or hukou, will be prohibited from buying new apartments, including second-hand ones, if they already own at […]

Vacant home tax? little effect…

Here’s a scoop: sometimes politicians do things just so they can say they did something. Whether what they do has much effect in the real world is an entirely secondary matter. If Toronto does go ahead with a tax on vacant homes in an effort to slow the vertiginous rise in property prices, it will […]

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 […]

Developers – disaster with rent controls

Major Toronto apartment developers are warning that Ontario’s proposals to expand rent controls would be a “disaster” that would push house prices even higher as the supply of new rental properties dries up. The Ontario government announced earlier this month that it is reviewing rent control regulations in the province and considering “substantive changes”. Current […]

Vicious rent control cycles..

Rent control is out of control. Now it’s making a comeback. Which may leave us right back where we started.  The debate over rent control is a perennial in Ontario politics, as predictable as the election cycle. In today’s tight housing market, with a close political contest looming, history is about to repeat itself. For better […]

Canada firing on 3 cylinders…

Canada’s housing market is firing on three cylinders, surprisingly including Vancouver, and setting fresh records for the month of February. The Teranet-National Bank home price index, released Tuesday, showed a gain of 1% from January. That marks the fastest pace for a February in the 18-year history of this measure. The “increase of unusual magnitude […]

Population Projections 2015-2041

Parts of Ontario will enjoy an increase in population between 2015 and 2041, while other areas will experience decreased population.  This will affect medical services offered, will determine if schools are built or closed, will determine the future of public transit, etc.  Read more….

GTA home prices & sales continue to soar…

An announcement made by the Building Industry and Land Development Association (BILD) this week reveals that demand for housing in the Greater Toronto Area is showing no signs of slowing down. The average price of new low-rise homes is up 22 percent from last year, reaching a new high of $992,231 in the month of September […]

New rules for principal residence exemption

A seasonal residence, such as a cottage, cabin, lake house or even ski chalet can be considered to be “ordinarily inhabited in the year” even if you only use it during vacation periods “provided that the main reason for owning the property is not to gain or produce income.” As part of the new measures […]