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Crystal Homes tops off first mid-rise Nuvo condo in Oakville
Crystal Homes tops off first mid-rise Nuvo condo in Oakville
Crystal Homes, in collaboration with Fernbrook Homes, topped-off its first mid-rise development Nuvo Condominiums in Oakville, Ont. that marks a change of pace for the land developer, homebuilder and broker.
Hundreds of condos flooding Toronto’s resale market: TREBB
Hundreds of condos are flooding Toronto’s home resale market as investors sell off and get out. Condo sales rose by 7.6 per cent but the average price for a Toronto condo is $725,000, a $60,000 drop since May.
High Park condo sold for $175K less than purchase price
At 100 Quebec Ave., a two-bedroom, two-bathroom condo sold for $850,000. It had been purchased by the previous owner for $1,025,000 a year and a half before. The High Park condo was listed for $1,069,000 in May.
Home construction, tax revenue going outside city: LHBA
London has lost residential building to communities outside the city in staggering numbers. Property tax revenue is fleeing the city, with home construction booming in outside communities, says a report by the London Development Institute and London Home Builders’ Association.
Residents forced out of unsafe Edmonton condo building
Residents of an Edmonton condo building deemed at risk of collapse are demanding answers about how construction flaws went undetected for decades. An evacuation order was issued at Castledowns Pointe after engineers determined the building lacked structural integrity.
Luxury condo sales begin to pick up in Alberta's capital
Edmonton’s resale real estate market is well-known for being affordable, but it is also a hidden gem for luxury condominiums. High-end condos often overlooked by well-to-do buyers are starting to garner attention due to the value they offer.
Average Edmonton homes $492,000, Calgary’s $700,000. Why?
Alberta may be calling, but despite the many similarities house prices in Edmonton are lagging behind Calgary – why? In August, the average resale price of detached homes in Calgary surpassed $700,000 – while in Edmonton it decreased to $492,000.
In Winnipeg average homes sold for $405,477 in August
Residential detached homes in Winnipeg sold for an average of $405,477 last month, four per cent higher than the same time last year ($389,830) and a 10 per cent hike against the five-year average ($367,655).
The average Ottawa house price is $709,739
The Ottawa Real Estate Board says Ottawa's resale housing market stalled in August, amid high interest rates and economic uncertainty. The average sale price for a freehold-class property was $709,739, up 0.5 per cent from 2022.
Ford promises 1,600 SF homes in Ontario for under $500,000
Premier Doug Ford has a promise for young people in Ontario: an affordable home for under $500,000. At an event, Ford promised to build 1,600 square-foot houses across Ontario similar to homes built after the Second World War.
Inside dealings for Greenbelt land, 2 developers' perspectives
The availability of land in the Greenbelt was conveyed to developers with indirect communication at a conference where certain developers had access to housing ministry staff. Those builders received 92 per cent of the sites taken out of the Greenbelt.
Board renewal brings six openings at CMHC
Board renewal at Canada Mortgage and Housing Corporation (CMHC) has positions for a new chairperson and five directors. CMHC has an 12-member board including CMHC’s president and CEO, two federal deputy ministers, the chairperson and eight other directors.
Toronto to tax luxury home sales, asks province for sales tax
Toronto city council voted to bring in a new surtax on sales of high-value homes – $3 million or more – while also asking the provincial government for sales tax revenue to help tackle a looming budget crunch.
Three global cities that are getting affordable housing right
Toronto is making more progress on the housing crisis than it might initially appear. This year, the city overturned decades of restrictive zoning to allow multiplexes on single-family lots. Earlier, the city legalized garden suites and laneway houses.
Income required for mortgages rises in Aug. except in B.C.
The amount of income required to qualify for a mortgage in Canada increased in every province except for B.C. according to Nesto. In contrast, Alberta had the largest increases in yearly income required to qualify, now over $102,000.
International students’ rent keeping households afloat
Rents that international students pay are allowing Canadian families to survive the Bank of Canada’s string of interest-rate hikes and their galloping mortgage payments. This, in turn, helps the banking system, as it grapples with the rising risk of defaults.
Quebec will pay for students to train in construction
Premier Legault announced a major workforce training program being discussed with Commission de la construction du Québec (CCQ) due to considerable labour shortages resulting from the high volume of construction projects underway for schools, roads and Hydro-Québec infrastructure.
Man bequeathed Vanc. property loses lawsuit against realtor
When a waterfront Southlands acreage that was partly willed to a Vancouver man sold for $7.5 million, about half of the listed value, he then blamed his realtors of negligence by overpricing the property for $13.8 million.
U.S. resident fined $45,000 for altering Georgian Bay shoreline
A Parry Sound-area cottager has been hit with a hefty fine after making unpermitted alterations to shorelines along Georgian Bay. A resident of California, who owns several cottages in Parry Sound, pleaded guilty to filling in shorelines without a permit.
New York city cracks down on short-term rentals. Will B.C.?
New York City is the latest jurisdiction in N.A. to come down on Airbnb and other short-term rental companies requiring all short-term rental hosts in the city to be on an approved list that’s verified before a listing can appear.
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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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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