Canada's Condominium Magazine

Market News

News with a focus on real estate, finance and the marketplace.

Housing market stable, less volatile: CREA

Housing market stable, less volatile: CREA

As expected, the Canadian Real Estate Association says that housing sales in 2013 will be lower than they were in 2012 but sees no reason for undue concern. Sales activity will be slightly lower, CREA now projects, than previously thought, but the market has remained balanced and prices stable. Low interest rates will continue to…

Toronto home prices will out-perform national average: TD

Toronto home prices will out-perform national average: TD

For those homebuyers who think of a home primarily as an investment, one that brings more or less guaranteed returns that are significantly higher than can be realized in cash, bonds or equities markets, the latest forecasts by the TD Economics group may not be what they want to hear. The TD report predicts a…

Toronto housing starts rebound in February after low January

Toronto housing starts rebound in February after low January

The number of housing starts rose significantly in Canada in February, recovering from low levels of activity in January, Canada Mortgage and Housing Corporation (CMHC) figures show. Most of the gains were in urban multi-family units, which saw a 27.7 per cent increase nationally. Single urban housing starts also rose 6.1 per cent. The seasonally…

Resale housing market off in February, prices up slightly

Resale housing market off in February, prices up slightly

The Toronto resale  housing market performed more or less as expected in February. That is to say, it was down compared to February 2012, though the numbers from the Toronto Real Estate Board (TREB) do not give a month-over-month comparison with January. That will come later when the Canadian Real Estate Association releases its own…

They’re at it again: BMO offers cut-rate mortgage, Flaherty says whoa

They’re at it again: BMO offers cut-rate mortgage, Flaherty says whoa

It happens every spring. In March 2012, after a disappointing third quarter balance sheet, the Bank of Montreal introduced, for the second time in three months, a 5-year fixed rate mortgage at 2.99 per cent, raising once again the possibility of a price war among the banks. While there was no all-out war, the other…

BILD blames government for poor low-rise sales in GTA

BILD blames government for poor low-rise sales in GTA

The Building Industry and Land Development Association (BILD) put out a statement a few weeks ago, on the election of Kathleen Wynne as premier-designate of Ontario, congratulating her and expressing their enthusiasm for working with her “to protect the interests of consumers.” BILD, the voice of the home building, land development and professional renovation industry…

Housing became a little more affordable in 2012:RBC

Housing became a little more affordable in 2012:RBC

Owning a home in Canada became “mildly” more affordable in the last quarter of 2012 as mortgage costs and home prices declined slightly, and the share of a household’s income needed to pay to own a home shrank. An RBC Economics report released today says that affordability improved in all three categories of home that…

Housing market will moderate, then grow again in 2014: CMHC

Housing market will moderate, then grow again in 2014: CMHC

Demand for new housing in Canada will remain moderate through the first half of 2013, then pick up with “modest” growth as we get into 2014. This is the opinion of the Canada Mortgage and Housing Corporation, in its First Quarter 2013 Housing Market Outlook released today. For this year, there will be 190,300 housing…

Commercial real estate leaders optimistic, but not too much

Commercial real estate leaders optimistic, but not too much

Tempered optimism seems to be the best way to describe the outlook of Canada’s top commercial real estate executives, according to the latest survey of current attitudes regarding real estate values and the availability of capital, from REALpac/FPL. On the one hand, fundamentals are strong, and this makes the real estate leaders happy and full…

Slower housing market will be balanced by stronger exports: Carney

Slower housing market will be balanced by stronger exports: Carney

Once again, the governor of the Bank of Canada, Mark Carney, has warned Canadians not to have unrealistic expectations that “some magical asset inflation” will take care of us somewhere down the line, as in retirement. Speaking on CTV news, Carney cautioned, as he has so many times in the past, that Canadians should not…

Two programs that could help you buy the home of your dreams

Two programs that could help you buy the home of your dreams

With tax time rapidly approaching (as well as the spring real estate market and the lure of the dream home), we are reminded of a couple of government programs that are intended to help first-time home buyers by providing tax relief and access to RRSP savings. We should clarify right off the top that “first-time…

Toronto real estate sales up in January

Toronto real estate sales up in January

If no news is good news, then we have reason to be glad: “There is little new to report about national sales activity,” said the president of the Canadian Real Estate Association, Wayne Moen, in a release giving the January sales figures for the market in Canada. Sales activity, he continued, “continues to hold fairly…

Housing developers advised to pay attention to seniors: CMHC

Housing developers advised to pay attention to seniors: CMHC

Canada Mortgage and Housing Corporation (CMHC) has been studying the “older Canadians” housing market, and today it released the first in a planned multi-volume series on the subject. The series is meant to help housing developers understand this large, diverse and growing segment of the population. The first volume in the series, which is called…

With interest rates staying low, homebuyers can save on their mortgages

With interest rates staying low, homebuyers can save on their mortgages

Economic news in Canada in the past few days has not been entirely uplifting, what with a slight increase in the jobless rate. However there is one bright spot, and it’s a significant one for homeowners and those who are planning to buy in the near term. Interest rates are still low. The prime rate…

Will new budget chief listen to critics and end the land transfer tax?

Will new budget chief listen to critics and end the land transfer tax?

Now that Toronto has a new budget chief to replace outgoing Mike Del Grande, the Toronto Real Estate  Board (TREB) has wasted no time in reminding Frank Di Giorgio, Del Grande’s successor as head of the budget committee, that it wants Mayor Ford to make good on his promise to get rid of the Municipal…

Toronto’s resale market off to “good start” in January: TREB

Toronto’s resale market off to “good start” in January: TREB

Calling it “a good start to 2013,” the Toronto Real Estate Board (TREB) released its resale figures for January today. There were 4,375 sales through the region last month. This was 1.3 per cent lower than one year ago, a modest decline. The average sales price reached $482,648 last month, a 4.3 per cent increase…

Condo market broke records in 2012, remains strong in 2013: report

Condo market broke records in 2012, remains strong in 2013: report

The latest report from condominium authority Urbanation on the Toronto condo market downplays any concerns about over supply. While 2012 saw a record number of new condominium starts, with developers beginning work on 24,388 units in 104 projects, the ratio of sold to unsold units has remained consistent and “above the long-run average in recent…

Hong Kong dethrones New York for most expensive retail rents

Hong Kong dethrones New York for most expensive retail rents

Toronto’s Bloor Street ranks 20th in the world for luxury retail If luxury retailing can be taken as an indication of economic health, Hong Kong must be in very good shape indeed. Retail rents in that city’s Causeway Bay area shot up 34.9 per cent over last year. Retail space now costs $2,630 a square…

SHARE WITH US

Subscribe to condo.ca

@ 2017 condo.ca  |  Designed by Persona Corp