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Trends and development of Canada's condominium market.

Demographics and low inventory put pressure on Toronto’s real estate prices to increase: Toronto’s population to hit 7.1 million by 2019

Demographics and low inventory put pressure on Toronto’s real estate prices to increase: Toronto’s population to hit 7.1 million by 2019

Despite legislative tinkering with the real estate market, supply and demand remains the main market force in the real estate market. With Toronto’s population projected to increase to 7.1 million by 2019 — and only a 2.3-month inventory available — the demand will remain strong. This is one reason prices have not significantly dropped at… Continue Reading

Landlords’ market: “any price goes” — shortage of inventory rentals in Toronto may bring back condo investors, despite rent controls

Landlords’ market: “any price goes” — shortage of inventory rentals in Toronto may bring back condo investors, despite rent controls

Not only is it expensive to rent an apartment or condo in the GTA area, it’s sometimes impossible to even be considered. The new Ontario rules that protect tenants only protect existing tenants from increases; new tenants are paying the price.     Some analysts (see below) blame the new rental control rules — which… Continue Reading

Ontario commits $2 billion over next three years for “affordable and sustainable housing” including up to $657 million for social housing repairs

Ontario commits $2 billion over next three years for “affordable and sustainable housing” including up to $657 million for social housing repairs

Peter Milczyn, Minister of Housing and Minister Responsible for the Poverty Reduction Strategy, announced the much-anticipated investment in social housing repairs and improving affordable housing. The good news is the timing — over $2 billion invested over the next three years. “Helping Ontario’s most vulnerable find stable housing is critically important to our goal of… Continue Reading

Housing Starts up 14% year-over-year for July 2017, up 4% month-over-month; 18,160 apartment starts in Canada for July; 7,168 for Ontario

Housing Starts up 14% year-over-year for July 2017, up 4% month-over-month; 18,160 apartment starts in Canada for July; 7,168 for Ontario

An August report from CMHC has July 2017 housing starts up year-over-year and month-over-month across Canada. In Ontario, July was more neutral, with year-over-year starts up 3%, while month-over-month starts dropped 2%.     In apartment housing starts, overall Canada starts were still up 10% month-over-month and 13% year-over-year. In Ontario even though apartment starts… Continue Reading

“Short term cities”: new report from McGill indicates top 1 percent of short term renters growing (Airbnb) taking in $51.7 million annually

“Short term cities”: new report from McGill indicates top 1 percent of short term renters growing (Airbnb) taking in $51.7 million annually

$51.7 million of income was earned by the top 1 percent of “hosts” out of a total revenue of $430 million last year for the cities of Toronto, Montreal and Vancouver. Some of these full-time entire home “hosts” have hundreds of properties listed on Airbnb. The claim was rejected by Airbnb (see below.)  In other… Continue Reading

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