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CHBA reports major drop in homebuilder sentiment
CHBA reports major drop in homebuilder sentiment
The Canadian Home Builders' Association's quarterly Housing Market Index of industry sentiment tumbled significantly in Q4 2023, setting a new low of 24.6 in the single-family sector. That reflects a 9.3 point decline from Q3.
Real estate receiverships on the rise as projects stall
From one of Canada’s tallest condo towers to bare tracts of land, residential developments across Canada are increasingly being pushed into receivership. Elevated interest rates, construction costs, delays and a slower real estate market are putting projects in financial stress.
Receivers appointed for remaining Vandyk’s dev. projects
Eight development sites owned by the Vandyk group of companies, now declared insolvent, represent more than 2,000 unbuilt homes – the majority sold to preconstruction buyers. A court-appointed receiver is seeking to recover more than $350 million owed to lenders.
Heritage designation recommended for Hamilton condo site
Members of Hamilton's heritage committee voted to recommend the 120 year old Philpott Memorial Church be designated a heritage building, rejecting a proposal by the church and a developer to save features of the structure and demolish the rest.
A B.C. developer offering a 10% presale deposit structure
Earlier this month, StreetSide Developments — a division of Qualico — announced the launch of its first concrete high-rise tower and flagship project in Surrey called Juno, which will rise 34 storeys and sit along 104 Avenue in the city's business district.
A Vancouver waterfront view, no property transfer tax
An advertisement for a suite at 1835 Morton St. which boasts one of the great locations in Vancouver, doesn’t hold back on its merits but there is a kicker. “No property transfer tax” and “no emply homes tax,” it claims.
Declining interest rates, prices are lowering homebuyer costs
Lower home prices and declining interest rates on new fixed-rate mortgages are starting to translate into affordability gains in some cities, according to Globe analysis. With some lenders lowering fixed rates on new five-year mortgages, urban homebuyer markets are changing.
Opportunity opens for luxury homebuyers: Sotheby's
The City of Toronto saw a 27 per cent increase in properties that sold for $4 million or more in the last half of 2023, according to Sotheby's International Realty Canada despite an annual decline in GTA-wide sales.
PropertyGuys.com predicts stable Toronto RE market in 2024
Canadian real estate platform Propertyguys.com recently shared its market predictions for Toronto’s 2024 real estate market. The company franchise operator for Toronto’s downtown and west Ontario area, Nathan Dautovich, anticipates a more balanced market for buyers and sellers.
City of Toronto committee endorses foreign home buyers tax
The City of Toronto executive committee voted Tuesday in favour of a new municipal tax of 10 per cent on foreign home buyers who purchase property in the city. If approved, the "municipal non-resident speculation tax" would start January 2025.
Real estate agent, broker revenues drop in Ont., B.C.
New Statistics Canada data shows that real estate industry revenues have taken a major hit in recent years. The operating revenue linked to Canada's real estate agents and brokers plunged by more than 20 per cent between 2021 and 2022.
6 homes you can buy for less than $200K in Edmonton
It’s no secret that the cost of housing is expensive in Canada, leaving many to wonder if they will ever own a home. Thankfully, that hasn’t been the case in Edmonton, where a single income can still buy a house.
Navigating the early mortgage approval process
As prospective buyers dream about a future dwelling, the complex world of mortgages can become a crucial aspect of the pursuit. One valuable tool in this process is the mortgage pre-approval, which holds immense significance for both buyers and sellers.
Book takes deep dive into Toronto condominium market
Backed by detailed research, Fusioncorp Developments’ CEO and co-founder, Nick Ainis' book, Building Toronto’s Skyline, is a 10-chapter story of how Toronto’s iconic residential towers evolved — from their early late 19th-century start to today’s modern high-rise buildings.
Industry warns about end to Canada Greener Homes
The federal government has signalled the end of the popular Canada Greener Homes grant program, which provides up to $5,000 toward energy efficiency upgrades. The energy audit industry warns mass layoffs across Canada could follow.
Toasty warm inside a rammed earth home
Rammed earth is logical. It works. And it’s ancient. Evidence of rammed earth has been found as far back as the Neolithic age. In Ontario, the oldest known example is near Barrie, , the St. Thomas Anglican, built in 1841.
"Ruined": Pre-sale homes are bankrupting people in Canada
Sudip Sehgall thought a townhouse was the key to realizing his Canadian dream. But he ran into trouble closing and the developer wouldn’t let him reassign the unit. After being forced to forfeit his $82,000 deposit, he wants justice.
McFall lawsuit echoes Sunderland legal case against CREA
A recent lawsuit — Kevin McFall v. Canadian Real Estate Association (CREA) et al — filed against various real estate boards, franchisors and brokerages and echoing last year’s Sunderland case is discussed with competition legal expert and lawyer David Dunbar.
Century-old, $16.7M Van. mansion centre of legal battle
An aging West Point Grey mansion is at the centre of a B.C. Supreme Court battle. In a Jan. 29 decision, Justice Jacqueline Hughes refused to dismiss the plaintiff's lawsuit over a 2022 sale that fell through.
Supreme Court case involving cottage changed human rights in Canada
When Bernard Wolf attempted to buy a small cottage in 1948, he was met with resistance and discrimination from his would-be neighbours. But his struggle to settle on Lake Huron was about more than just owning a weekend getaway.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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