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Real estate land transaction platform Landerz raises $1.5M
Real estate land transaction platform Landerz raises $1.5M
Landerz, a Montreal-based company, has raised $1.5 million in pre-seed funding as it seeks to expand its platform designed to simplify and shorten the process for complex commercial and multiresidential land transactions.
OSFI to limit number of highly indebted borrowers
Canada’s banking regulator is limiting highly leveraged loans in the banks’ residential mortgage portfolios. The Office of the Superintendent of Financial Institutions (OSFI) has told lenders to limit the number of mortgages that exceed 4.5 times the borrower’s annual income.
Housing market to see 'staggered' return: RBC economist
Homebuyers are unlikely to flood back into the housing market this spring; rather their return will be “staggered” over the second half of 2024 following a series of rate cuts, according to Robert Hogue, assistant chief economist at RBC.
Investors own 23.7% of Ontario homes: Teranet
Teranet’s Market Insight Report has found that owners of multiple properties, 23 per cent of the total market, remain the drivers of real estate purchasing in Ontario, as first-time buyers and people moving house slowed down their purchases in 2023.
Soaring Toronto condo fees narrow price gap with houses
Across Toronto, as home ownership has been an increasingly fading prospect for young residents, condos are often the most attainable option. But costs are still steep, with the average Greater Toronto Area (GTA) condo costing about $700,000 last month.
New home supply in the GTA highest since 2016: BILD
New home supply in the GTA was among the highest levels recorded in the last decade, according to a report by the Building Industry and Land Development Association (BILD), but buyers remained on the sidelines waiting for lower interest rates.
Ottawa homebuilders praise Ont.'s $1.8B infra. investment
The provincial government’s pledge to invest more than $1.8 billion to help build at least 1.5 million homes across Ontario by 2031 will be a welcome boost as Ottawa scrambles to address its housing shortage according to Ottawa homebuilders.
Province won't proceed with fourplexes legislation: Ford
Ontario will not introduce legislation to automatically allow fourplex homes to be built across the province, Premier Doug Ford said. Such legislation – which would override municipal prohibitions – would be a "massive mistake," Ford added. "It's off the table for us."
London to permit homes on under-used industrial land
London, Ont. is poised to add land for what may be more than 1,000 new homes by converting under-used industrial property for residential use. The planning committee is recommending 120 acres be rezoned from manufacturing to meet growing housing demand.
City Of Calgary considers new Housing Land Fund
The City of Calgary has developed a concept for its new Housing Land Fund, which will allow the city to acquire land and make it available for affordable housing development, according to city briefings due for further consideration this week.
Banff looking at legislation to increase housing density
Plans to increase residential density in Banff to deal with the housing crunch are one step closer to reality. A bylaw to increase residential density is a fundamental shift in philosophy centred around the number of dwellings on a site.
The old Peterborough ‘Y’ revived as loft spaces
When developer Hans Jain looking at heritage buildings in Peterborough, Ont. – eventually deciding to acquire the Peterborough Family YMCA – some thought he was off his rocker. Yet a lender finally stepped up and A& Architects Inc. were engaged.
The spring outlook for bond market and mortgage rates
Possibly the most eye-glazing two-word phrase in personal finance is "bond market", yet the bond market has a significant influence on your daily life, particularly for mortgage renewals and home purchases. Falling bond yields usually result in lower mortgages rates.
'Tall and sprawl' cities a growing problem in Canada
OPINION: Dawn Parker at the School of Planning, Faculty of Environment, University of Waterloo, comments on the federal Task Force for Housing and Climate's Blueprint for More and Better Housing, which released its final recommendations for solving Canada’s housing crisis.
Downsizing to a garage cost $500,000, worth every penny
After Celia Chandler’s husband died, her home seemed just too big and she decided to convert her spacious garage into a laneway suite, where she could live and work, and rent out the main house. Then things got tricky.
Halifax senior stuck with $45K bill for water servicing
Arlene Best, 78, moved into assisted living at Northwood's Halifax campus last fall, and has been trying for months to subdivide and sell her half of a duplex where she has lived for 50 years in a Dartmouth neighbourhood.
B.C. court rules on complex real estate dispute from 1960s
A dispute over a real estate transaction that began over 60 years ago was resolved with a ruling by Justice David A. Crerar, who determined that a four-unit apartment in Port Moody, B.C. should be transferred to the new owner.
Town of Huntsville introduces 24-hour STR hotline
As of March 8, the town of Huntsville, Ont., has introduced a new 24-hour hotline that residents can call to report concerns about short-term rentals (STRs) operating in the area such as noise, improper burning and dogs running loose.
U.S. homebuyers expecting $10,000 savings to face reality
Consumers expecting big savings from a National Association of Realtors’ class-action settlement over agent commissions may be disappointed. The agreement drew cheers from politicians who said breaking the “Realtor cartel” could save U.S. households $100 billion over time.
Italian town struggling to sell off its empty homes for one euro
Italy’s one-euro-home sales have been attracting a lot of interest over recent years, with dozens opting to snap up abandoned properties in depopulated towns. While some towns have offloaded abandoned dwellings, others have struggled to sell their empty homes.
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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