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Saturday , 25 March 2017

Monthly Archives: April 2015

Toronto’s luxury real estate market tops in world: Christie’s

Toronto had the most active luxury real estate market in the world in 2014, according to Christie’s International Real Estate. Of the top ten luxury markets it ranked, all but Toronto slowed last year. Sales of luxury properties in Toronto, by contrast, were up 37 per cent, making it the hottest market in the world. Calling it the hottest market is appropriate. Christie’s distinguishes between a market’s overall prices and “relative luxuriousness,” which are ranked on a Luxury Index, and the growth and demand experienced in a market, measured by a Luxury Temperature. Toronto ranked tenth on the Luxury Index, surpassed by cities like London, New York and Hong Kong. ... Read More »

Low risk, modest overvaluation in housing markets: CMHC

The two Canadian cities with the highest-risk housing markets are—Regina and Winnipeg? Expensive Vancouver’s housing market is low risk? Toronto with its million-dollar average homes, runaway sales and bidding wars is just moderately risky? That’s what the man wrote, the man at Canada Mortgage and Housing Corporation (CMHC). Chief Economist Bob Dugan said in a housing market update that there is just “modest” overvaluation in the country’s markets, some being worse than others. Nationally, the country scores an overall low risk. How does CMHC measure overvaluation, and what are the risk factors it considers? There are four risk factors used to determine “problematic” conditions in the markets: Overheating of demand, ... Read More »

Home buyers worried about paying too much should get an appraisal: AIC

About 7 per cent of the population plan to buy a home or a property in the next year, and most of them are either a little or a lot concerned about the price they’ll have to pay. Many believe that they will end up paying more than the home is really worth. That fear of paying more than market value has influenced many would-be buyers to put off buying at this time. However, a third of Canadians say they are not concerned about paying an artificially high price for a home. These are some of the findings of an Ipsos Reid poll conducted for the Appraisal Institute of Canada ... Read More »

Foreign students, temporary workers major impact on rental markets

If you rent a condo, or a basement apartment or flat, to a person between eighteen and forty-four years of age in Toronto or Vancouver, chances are very good that he or she is a non-permanent resident (NPR) of Canada. NPRs, mainly those who are in the country on work or study visas, are a rapidly growing, even essential, component of Canada’s younger population, with growing influence on the economy and the housing market. There are now about 770,000 NPRs in Canada, a record high, and 95 per cent are below the age of forty-five. Over the past decade, their numbers rose by 450,000, says Benjamin Tal of CIBC World ... Read More »

CivicAction Summit tackles city’s main social problems

What are the most important issues that face a city like Toronto at this point in our history? Employment? Homelessness? Transit? All of those, no doubt, but for this year’s CivicAction Summit, dubbed the “Better City Bootcamp,” the priorities may seem a little surprising: Housing affordability Mental health support in the workplace Childhood health Infrastructure Public space Housing affordability and infrastructure are perennial big-city issues, so no surprise there. But are childhood health and public space really among the most important challenges the city faces? They are, according to the Greater Toronto CivicAction Alliance, the group behind the summits, which are held every four years. According to a fact sheet ... Read More »

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