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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

31 January 2017

TREB’s forecast on real estate market for 2017

Recently, the Toronto Real Estate Board (TREB) released its annual Market Year in Review & Outlook Report during the Economic Summit.

The outlook includes forecasts for this year and raises such hot issues as consumer plans, influence of transportation infrastructure on housing affordability, foreign buying activity in the GTA and, of course, the restrained real estate supply.

TREB expects another year of strong sales through MLS® System. It predicts more than 100,000 sales for the third year in a row. To be precise, TREB expects home sales to vary within 104,500-115,500, with an average forecast of 110,000. It’s only slightly lower than 113,133 sales reported by GTA REALTORS® last year.

30 January 2017

British Columbia changes its foreign homebuyers tax

British Columbia's premier says the government is changing the tax for foreign real estate buyers in Metro Vancouver.

According to Christy Clark, the tax will be raised for those foreign buyers who have a work permit and pay taxes in the province. Such a change aims at attracting more people to British Columbia.

As you know, the 15% tax for the foreign real estate buyers was introduced in August 2016 as an attempt to slow down the sharp prices growth.

27 January 2017

CMHC keeps the housing market in the red zone

Canada Mortgage and Housing Corp. (CMHC) decided to keep the national real estate market in the red zone, where it has placed it three months ago, pointing to vivid signs of problematic conditions.

The Corporation, which provides the federal government with advice on the housing sector, kept the same rating for the second quarter in a row. Among the main reasons for that, overvaluation and price acceleration were named.

“The on-going price acceleration in Vancouver, Victoria, Toronto and Hamilton shows that real estate prices increase could be pushed by speculation, as it tends to outpace what migration, employment and income can support,” - said Bob Dugan, CMHC’s chief economist.

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23 February 2017

Millennials could become the lost generation for real estate ownership Millennials would like to own property. According to statistics, 8 out of 10 m...Read more >>

22 February 2017

Federal government tools to curb real estate price growth may have little effect. There is an argument between observers and think-tanks on the issue...Read more >>

17 February 2017

Mortgage rules changes are causing weaker sales activity In addition to making it even harder for first-time buyers to qualify for a mortgage and get...Read more >>
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7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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