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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

23 March 2017

Ottawa allocates funds for data collection on the real estate market

The Canadian government plans to spend almost $300 million during the next ten years on collecting information about the national real estate market.

The budget includes $39.9 million over the next five years for Statistics Canada to collect the data on foreign homeownership in the country, the demographics of owners and financing sources of their purchases.

Although it’s definitely not the largest spending share in a federal budget that contemplates more than $300 billion in annual program, and despite the fact that it’s only a part of the government’s $11.2 billion, 11-year real estate strategy, economists say it’s an important decision.

Such a move will give us a more vivid picture on the factors pushing housing prices higher.

22 March 2017

High-end housing market is facing “unprecedented uncertainty”

According to Sotheby's International Realty Canada, the latest government rules have led to "an unprecedented uncertainty" at the high-end real estate market right before the hot spring buying season.

The organization provided data from for largest Canadian housing markets, suggesting the current tendency will hardly change.

Sotheby's expects Toronto to remain a leader in sales of properties worth over $1 million. In the same time, Vancouver's sales of expensive homes will keep normalizing. Calgary will probably continue to recover from oil prices decline, and Montreal is expected to show a modest growth.

However, the recent rules changes by federal, provincial and municipal governments could lead to unexpected results, said Brad Henderson, president of Sotheby's International Realty Canada.

20 March 2017

Should we cool down the housing market today and avoid the burst?

Mayor John Tory is going to gather experts in order to decide how to deal with Toronto’s red-hot real estate market.

It’s not a secret that the situation at the largest Canadian market is unhealthy today. During the previous year only, the housing prices in Toronto rose by 24%. As a result, the average cost of a detached house in the city exceeded $1.6 million.

The market conditions are so tight that even cautious bank economists are talking about the bubble. According to Benjamin Tal of CIBC World Markets, Toronto is approaching a strong affordability crisis at a fast pace.

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29 March 2017

Ontario will replace Tarion by a new regulator for province’s home builders The Ontario government decided to appoint a separate regulator to control...Read more >>

28 March 2017

Charles Sousa aims at cooling down Ontario’s real estate market Finance Minister Charles Sousa is going to include into the spring budget measures t...Read more >>

27 March 2017

Condo sales in Toronto hit another record The latest press release from Building Industry and Land Development Association (BILD) shows that condo sa...Read more >>
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