Toronto real estate market news & info
The latest data from the Toronto Real Estate Board, through March 27, confirm that despite a 12% drop in the number of sales as compared with last year, prices remain very strong. Overall, prices are 3.8% higher than last year, but this disguises the dichotomy between condo prices (which are roughly flat) and detached/semi-detached prices,… Read More
With the spring selling season approaching, all eyes are on a crucial segment of the real estate market – the first-time home buyer. It’s a group that includes people such as Tyler Padley and his wife Jamie McGovern, who have been renting in the west end of Toronto and are now looking to buy their… Read More
This stunning corner penthouse suite in the prestigious Kingsway condominium complex has sweeping panoramic views over Lake Ontario, Humber River parkland and the Toronto city skyline. One of only 6 penthouse units in the complex, this gorgeous suite has 10 ft ceilings and 1843 sq ft of stylish living space featuring: a spacious kitchen with… Read More
Demographics are expected to have a profound effect on Canada’s housing market in the coming years, resulting in less housing turnover as well as fewer sales and listings, according to a new report by Scotiabank Economics. But that’s not necessarily a bad thing. “Contrary to some dire predictions, population aging will not fuel a demographically-induced… Read More
Excellent duplex or live-in/rent opportunity with laneway parking and newer double garage In the vibrant Christie Pits neighbourhood close to Dovercourt Village. The upper unit has been recently renovated, with new kitchen, bathroom & flooring, and is presently vacant. The lower main floor + basement unit is tenanted (month-to-month). Easy conversion to single family home…. Read More
If you learn that your home was once owned by a drug dealer, must you disclose that to a potential buyer when you sell? Donald and Jodi Dietrich bought a home in Winterbourne, Ont. in 2001. They were told by a neighbour several years later that an earlier owner was a drug dealer. In 2007,… Read More
Bank of Montreal cut its five-year fixed mortgage rate to 2.99 per cent Monday as Canada head into the important spring housing market. The move comes amid signs mortgage debt growth is slowing, a trend that could crimp bank profits this year, bond rating agencies have warned. The announcement prompted little initial response from BMO’s… Read More
For the last decade there’s been an unprecedented condominium boom in Canada’s major cities. There has been lots of concern that the condo market is overbuilt, particularly in Vancouver and Toronto. “Who is going to live in all of these condos?” is a common question. A new study from Statistics Canada may provide that… Read More
Last July, when the federal government changed the mortgage rules (mainly, reducing maximum amortization for insured mortgages to 25 years), there was a general expectation that this would do the trick, namely, slow down the real estate market and facilitate a soft landing, thereby avoiding a bubble. Throughout the second half of last year, it… Read More
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