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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

11 December 2018

Next year will bring a more moderate growth in home prices

Housing prices are expected to go up next year. However, the growth pace may be not as fast, as during the previous few years.

According to Royal LePage, the national median home cost will rise by 1.2% in 2019, with prices in Toronto and the surrounding areas growing by 1.3% to $854,552.

Royal LePage CEO Phil Soper expects Canada’s real estate market to remain in a “correctional cycle” that started this year, so the prices will go up slowly.

“Markets aren’t perfect. They become overheated and then they need a correction”, - he noted.

The Royal LePage report puts the blame for a modest pace on several factors, e.g. growing interest rates, global trade risks and the low cost of Canadian crude.

The report says potential buyers, who have been pushed out of the hot markets in Toronto and Vancouver, may have more chances to buy a property next year, so a sales activity increase is expected in spring.

10 December 2018

Could a change in rent control increase Toronto’s rental supply?

In November, the Ontario government decided to remove rent control on all new housing units.

This change was supported by industry associations, including the Ontario Real Estate Association. It was seen as a possibility to raise the number of new rental buildings.

Today, the rental supply in Toronto is extremely low with only 7,308 new rental units added this year. It’s the smallest gain since 2016, and 80% of all the new units were added in condo sector.

However, according to Diana Petramala, a senior researcher at the Ryerson Centre, the rent control removal will hardly have a significant impact on Toronto’s high rents in the nearest future.

7 December 2018

Jobless rate fell to its 40-year low level in November

A large number of new jobs in November pushed Canada’s unemployment rate down to its lowest level since Statistics Canada started reporting it about 40 years ago. However, there were also a certain disappointment.

Last month, Canada added 94,100 net jobs, marking the largest monthly gain since March 2012 when there was an increase of 94,000 jobs, Statistics Canada says. The growth was supported by 89,900 new full-time positions and 78,600 jobs in the private sector.

The unemployment rate was down to 5.6% from October's 5.8%, which were the previous low mark since 1976.

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22 January 2019

Liberal government is looking for ways to help millennials enter the housing market According to Finance Minister Bill Morneau, the federal governmen...Read more >>

21 January 2019

More and more Canadians face financial difficulties According to the recent survey, the number of Canadians who find themselves about $200 away from...Read more >>

18 January 2019

Canadian economy lost 13,000 jobs in December According to ADP Research Institute, Canada lost 13,000 jobs in December 2018. Such a large drop was c...Read more >>
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