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Saturday , 25 March 2017

Monthly Archives: May 2015

Ontario needs more immigrants to buy, and build, homes: study

Toronto’s real estate market depends on population growth, and growth comes largely through immigration. That has been taken as self-evident truth for many years and is often repeated by analysts as evidence that the housing market is fundamentally sound. As long as there is a steady stream of new immigrants needing housing, the housing market will thrive, according to the economists. But it is not only the real estate market that depends on immigrants; the labour market is also immigrant dependent.  Now a new study from the University of Toronto casts doubt on whether the city can continue to take population growth through immigration for granted. The Mowat Centre paper, ... Read More »

Islington Terrace Condos Grand Opening: great value, great location

Anyone looking to buy a condo in Toronto these days won’t fail to notice that there’s a lot of choice out there. Even with all the possibilities available, finding the right one can still be a challenge. Yes, location is important, but so are affordability, the quality of the building’s construction and the individual suites’ finishes. Buyers will want to know about the building’s amenities and design, the suitability of the suites for one’s particular needs, and the reliability of the builder for delivering on time and taking care of customers throughout the buying process. All things considered, whether shopping for a new pair of shoes, a new car, or ... Read More »

Mayor praises “exciting” Aqualina at Bayside development

The mayor of Toronto, John Tory, called the project “transformative,” while the deputy head of Waterfront Toronto said it was an example of how buildings can make Toronto “a better place to live.” The representative of master planner and real estate developer Hines International, meanwhile, called it an “incomparable” condominium, and Tridel president Leo DelZotto spoke of the “tremendous value distinction” for purchasers. A representative of Artscape praised it for its walkability and the attention paid “to the public realm.” Not every ground-breaking ceremony for a new condominium in condo-mad Toronto attracts this kind of attention and enthusiasm, with the mayor and so many other dignitaries attending. Mayor Tory made ... Read More »

CMHC sees relief from home price growth

Expect to see more condominium construction in the GTA over the next two years or so. This is not a forecast likely to catch many off guard, about as startling as “and the sun will rise in the east tomorrow.” Nevertheless, Canada Mortgage and Housing Corporation (CMHC) tells it like it is, and it is their projection that high-rise starts will increase over the next couple of years, the result of strong pre-construction sales that began trending up in mid-2013. The corporation says that housing starts are set to reach 32,400 units in both 2015 and 2016. Less demand for increasingly unaffordable new low-rise homes will also be a factor. ... Read More »

More records set in new-home market in April

April will surely go down as a landmark month for Toronto real estate, with records, not all of them good, set in several areas. First we had the record-breaking resale numbers for the month, with 11,303 sales reported by the Toronto Real Estate Board, an increase of 17 per cent over the previous year. Now the Building Industry and Land Development Association (BILD) has released sales numbers for new homes, and they are impressive. Sales of new detached, semi-detached and townhouses were up 38 per cent compared to one year ago, and 39 per cent above the ten-year average. A total of 2,612 new low-rise homes were sold in April, according ... Read More »

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