page contents
Sunday , 26 March 2017

Monthly Archives: May 2015

Ontario consumers support public registry of tradespeople: OCOT

If you had to hire an electrician or a plumber to do work in your home, would you care whether they were qualified to do it? Most likely you would, especially if you didn’t know the person. To make sure, Ontario’s somewhat controversial College of Trades (OCOT) commissioned a poll. It found that indeed a sizable majority of Ontario consumers want to know whether the electricians and plumbers they hire to work in their homes are actually qualified to do that work. Support was very strong for the College’s use of a public register of its members. The register lists all skilled tradespersons with their qualifications. More than nine in ... Read More »

More high-end sales send detached home prices soaring in May

May is on course to break another sales record in the Toronto resale housing market, says Toronto Real Estate Board (TREB) President Paul Etherington. The realtors group released its sales numbers for the first half of the month and they show a 9.6 per cent increase over the same period last year. In the first fourteen days of May, 5,655 sales were reported, compared to 5,160 sales in 2014. “It is clear that demand for ownership housing remains very strong in the GTA. So much so that, if the pace of sales experienced in the first half of this month is sustained in the second half, we will see record ... Read More »

Home sales, prices up in most cities in April: CREA

Fixer-uppers with plaster falling from the living room ceiling and a musty odour receiving thirteen offers before selling for $181,000 above the asking price. Architect-designed condos being scooped up by bully bidders with pre-emptive offers a quarter of a million dollars over asking. It sounds like business as usual in the Toronto real estate market this spring. In the rest of the country, sales for April were up 2.3 per cent compared to March, the third month in a row to show an increase, according to the Canadian Real Estate Association (CREA). That modest-looking number (2.3 per cent) does not quite capture the scale of the activity. In fact, more ... Read More »

Toronto poised to be Canada’s top economic, tourism performer of 2015

It looks like 2015 and 2016 will be pretty good years for Toronto. The Conference Board of Canada forecasts that Toronto will pull ahead of the pack this year in economic growth, thanks to the weaker Canadian dollar and improving economy in the United States. For the first time since 1999, Toronto will have the fastest growing economy of the thirteen cities covered in the Conference Board’s Metropolitan Outlook: Spring 2015. It calls for Toronto’s economy to expand by 3.1 per cent in 2015, enough to improve the city’s stubbornly high unemployment numbers by 1.9 per cent. Next year will see growth of 3.2 per cent. The report highlights the city’s ... Read More »

Ten-year mortgages gaining in popularity: CIBC

More Canadians are showing interest in the traditionally unpopular ten-year fixed-rate mortgage than ever before, according to a CIBC poll. The number of Canadians who currently have ten-year mortgages is below 5 per cent, and that has been the case for years. But now, say the poll respondents, five times more mortgage customers would choose either a seven- or ten-year mortgage. There’s a corresponding drop in the number who would go with a five-year, the traditional favourite among Canadian homebuyers. At present, the vast majority of all residential mortgages in Canada have terms of six months to five years, according to the Bank of Canada, about two-thirds of those being ... Read More »

Scroll To Top