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StatCan may overestimate vacant housing land in Toronto, Ottawa: study
StatCan may overestimate vacant housing land: study
Statistics Canada’s vacant land surveys for Toronto and Ottawa’s census metropolitan areas (CMAs) overstate the land inventory compared to other surveys, research from Toronto Metropolitan University has found.
BoC keeps key rate at 5%, shifts talk away increases
The Bank of Canada (BoC) held its policy interest rate steady for the fourth consecutive time on Wednesday, but dialled back threat of further rate hikes, opening the possiblity of rate cuts in the first half of this 2024.
Banks warned about use of fixed-payment variable loans
Canada's financial regulator warned banks last week that fixed-payment variable mortgages can saddle homeowners with a "forever mortgage." It's not the first time the regulator has sounded the alarm over this type of mortgage.
Ottawa Real Estate: 2023 trends, optimistic for 2024
GUEST SUBMISSION: As we step into the dawn of a promising New Year, real estate enthusiasts eagerly anticipate what lies ahead after a year dominated by the ebb and flow of interest rates.
Federal gov't to create a National Indigenous Housing Centre
The federal government is kicking off the procurement bidding process to establish a new National Indigenous Housing Centre for Canada. Canada Mortgage and Housing Corporation is leading the process of selecting Indigenous-led organizations to operate the new centre.
Sales of newly built homes in GTA lowest since 1995
Sales of newly built homes in the GTA fell to lows not seen for nearly three decades in 2023, a new report from the Building Industry and Land Development Association has found, with no change expected until interest rates decline.
Toronto considers tax on foreign home buyers
Toronto is flirting with the idea of introducing a 10 per cent new foreign buyer tax in 2025 — the Municipal Non-Resident Speculation Tax — intended to clamp down on speculative home buying and generate as much as $15M in revenue.
Funds for cities that miss housing targets to be reallocated
In the coming months, the Ontario government will begin doling out the Building Faster Fund, a three-year, $1.2-billion program first announced in August 2023, intended to reward municipalities that are on track to meet their 2031 housing targets.
Cap on foreign students to aid housing market: BoC
This year, Ottawa will approve roughly 360,000 permits, a decrease of 35 per cent from 2023. Because the visas will be allotted to the provinces on a per capita basis, B.C. and Ontario will experience a pullback in new enrolments.
Regulator’s attempt at mining condo owner data called out
The Condominium Authority of Ontario has introduced a requirement that Ontario's 12,000 condo corporations keeps track of the email addresses of registered owners, raising privacy and ethical concerns with property managers and condo law experts.
B.C. homes sitting empty due to funding delays: non-profit
Carolina Ibarra, CEO of Pacifica Housing, a non-profit housing provider on Vancouver Island, says delays in funding from BC Housing mean much needed units are sitting empty. Funding delays also mean the non-profit has deferred some maintenance and renovations.
Couple's dream home in jeopardy because of city hall backlog
An Ottawa couple say they may be out tens of thousands of dollars — and may even lose their dream home — because of a months-long delay at city hall to approve what would seem to be a routine severance application.
B.C. strata forced to pay company over unit flooding
A strata corporation in B.C. was forced to pay thousands of dollars after losing a tribunal hearing to a contracting company that owned a unit in the building that flooded due to blockages in the strata’s pipe system.
London properties could be dropped from heritage list
London, Ont. currently has 2,201 properties on its Register of Cultural Heritage Resources. In 2025, many could be removed from a list of properties with heritage significance, leaving them open for demolition, part of the plan to speed housing development.
Number of B.C. real estate agents surged in past decade
The number of licensed real estate agents in B.C. has increased by almost 35 per cent from 20,825 to 29,416 over the past decade, according to data from the BC Financial Services Authority, resulting in agents facing increasing competition.
Sutton Quebec cuts ties with its ex-boss
A Sutton Quebec real estate broker franchise cut ties with its co-founder and ex-president, José Christophe Folla, who is accused of arson. The crimes he allegedly committed include ordering destruction of the premises of Royal LePage Humania and ReMax Bonjour.
New house pricing energizes Toronto real estate market
The pace of the Toronto-area real estate market feels slightly more energetic in January as some aspiring buyers take tentative steps away from the sidelines. Prices softened over the fall, and sellers willing to price their house or condo realistically.
What income is required to afford a house in Toronto
New insights from Ratehub.ca show just how much harder it is to afford a house or condo in Toronto and nine other major cities across the country, with experts calling it “a terrible year for home affordability in Canada.”
Income required to buy a Vancouver home is soul-crushing
It’s another story where dreams are crushed by a reminder of how much income you need to afford an average home in Vancouver. The city leads Canada in required annual income needed to buy what Ratehub.ca calls an average home.
Around sixty Quebec seniors will have to be rehoused
The Residence at the Botanical Garden, in eastern Montreal, will close its doors next August. Sixty-two seniors, some of whom are very vulnerable, will have to be relocated to other establishments in the area.
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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