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Wednesday , 29 March 2017

Monthly Archives: May 2016

Busiest April on record for home sales in Canada: CREA

April was the second-busiest month for homes sales in Canadian history. Sales across the country were up 10.3 per cent year over year and 3.1 per cent compared to March. Higher sales numbers were recorded in about 70 per cent of all local markets. According to the Canadian Real Estate Association (CREA), it was the busiest April on record, with sales 16.5 per cent above the ten-year average. The average price of a home in Canada reached a new high as well, hitting $508,097. This was 13 per cent higher than one year earlier. Removing Toronto and Vancouver from the calculation, the national average price drops to $369,222 and the ... Read More »

Tax real estate speculators who flip properties: CIBC economist

The one certainty about how much foreign investment there is in Canadian real estate is that nobody knows for sure. Benjamin Tal, deputy chief economist at CIBC World Markets, can always be counted on to take things down a level or two when the rhetoric gets too hysterical, and he is doing so again on this question. We don’t know how much foreign investment there is and, while the same discussions about it are going on in Australia, New Zealand and the UK, “policy makers are as confused about the issues as we are,” he said. So, even as MaClean’s talks about a “frenzy” of Chinese buying in Vancouver and ... Read More »

Global air pollution getting worse, not better, despite efforts: WHO

The World Health Organization reports that 56 per cent of people living in cities in wealthy countries breathe polluted air that does not meet WHO air quality guidelines. That, unfortunately, is the good news. The situation is worse, and worsening, in poor countries, where 98 per cent of cities with more than 100,000 inhabitants have poor air quality. The WHO says urban air quality is directly related to higher risk of stroke, heart disease, lung cancer and chronic and acute respiratory diseases like asthma. In short, air pollution is “a major cause of disease and death.” When pollution is reduced, air quality improves and health costs shrink. The connection between ... Read More »

Shortage of luxury homes keeps Toronto among hottest world markets

Toronto has lost its crown as the world’s hottest luxury real estate market. Toronto is now number two on the top ten list of cities where homes priced at $2.2 million and up are bought and sold by the dozen. Auckland in New Zealand overtook Toronto in 2015. That does not mean that things slowed down in Toronto. On the contrary, Toronto experienced “extraordinary” growth in its luxury housing market, which grew 48 per cent compared to the previous year. The average for the 100 markets included in Christie’s International Real Estate’s Luxury Defined 2016 report was 8 per cent growth. In fact, Toronto, along with Paris, was the only ... Read More »

Canadian building nominated for prestigious international architecture award

A Canadian building is in the running to be named the world’s best new building. For the first time, the Royal Institute of British Architects (RIBA) will award an international prize for “the most significant and inspirational building” of the year, one that demonstrates “visionary, innovative thinking and excellence of execution” while making a distinct contribution to its users and to its physical context. Thirty buildings were selected from entries that came from fifty countries around the world. Tula House, a residence on Quadra Island in British Columbia, by Patkau Architects, is the Canadian building on the long list. Tula House, which was built in 2014, has already won a ... Read More »

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