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Asking price of GTHA housing drops, but rents stay high: Bullpen
Asking price of GTHA housing drops, but rents stay high
Average asking prices for unsold single-family housing in the Greater Toronto and Hamilton Area (GTHA) were down 30 per cent in October 2023 from their peak in July 2022, according to analysis from Bullpen Research & Consulting Inc.
Average home price in Canada rises to $656,625: CREA
The Canadian Real Estate Association says the number of homes sold last month was up 0.9 per cent compared with October 2022 as the national average home price rose to $656,625 — up 1.8 per cent from a year ago.
Metro Vancouver's res. presale market flooded with units
Metro Vancouver’s residential presale market is getting some momentum thanks to a new supply of presale properties. Just over 3,500 presale units, condos to townhouses, across 20 projects hit the market in October, according to MLA Canada data.
Commission crackdown: Realtor fees are under attack
North American real estate agents are raking in some of the highest commissions in the world with average commissions in Toronto at $62,000. Now a string of class-action lawsuits has arrived to ruin the real estate party.
Vancouver increases housing density but not in Shaughnessy
Vancouver city councillors are taking steps to increase housing around under-enrolled schools and for middle-income earners but voted against a motion to add density to the wealthy, upscale Shaughnessy neighbourhood.
A coming ‘luxury tax’ - and a flurry of Toronto home sales
A number of properties in the affluent Toronto enclaves of Rosedale, Forest Hill and Bridle Path have found buyers in recent weeks. The city’s “luxury tax,” set to come into effect in 2024, may have something to do with the flurry of sales.
A deep dive into hotel-branded residences’ growing popularity
According to JLL analysis, developers and investors looking to expand their businesses into branded residences have been increasingly focused on standalone branded residential projects, rather than the typical residence and hotel mixed-use, due to the financial benefits delivered to stakeholders.
Rosenberg sees mortgage math bringing rates down quickly
Canada’s central bank will have to cut interest rates faster and further, 2% over the next 18 months, to get ahead of a wave of mortgage maturities that threatens 20% of Canadians discretionary income according to economist David Rosenberg.
Mortgage insurers to set aside capital for potential defaults
A decision by Canada’s financial regulator, Office of the Superintendent of Financial Institutions, to demand mortgage insurers set aside more capital as negative amortizations pile up is a prudent measure in the face of high interest rates, one analyst says.
otherhome aims to make high mortgage rates obsolete
A Toronto prop-tech company is aiming to make high mortgage rates a thing of the past by offering real estate to purchasers without mortgages. otherhome offers the purchasing of investment homes globally with up to eight purchasers on every title.
Montreal residential property taxes climb by 4.9 per cent
High inflation means Montreal homeowners should brace for the biggest property tax increase in 13 years. Residential property taxes in Montreal will climb by an average of 4.9 per cent next year and the non-residential rate by 4.6 per cent.
BILD asks feds to add to $200-million infra. spend
Dave Wilkes, president and CEO, Building Industry and Land Development Association (BILD) called on the federal government to match the Province of Ontario $200-million commitment over the next three years for municipal water infrastructure.
$228 million new fed. funding to build 6,800 Calgary homes
Calgary is getting $228 million in federal funds to help speed up and build more than 6,800 housing units over the next three years. The money is coming from the Government of Canada’s $4-billion Housing Accelerator Fund.
More seniors choosing to age in home: CMHC report
A new report from the Canada Mortgage and Housing Corporation (CMHC) says that although seniors tend to consider downsizing as they age, a large proportion are instead choosing to age in their home rather than put it on the market.
Average rental rate hits new high for 6th month in a row
The average asking price for a rental unit in Canada reached $2,178 last month, a 9.9 per cent year-over-year increase. It continues a six-month trend of record highs, according to Rentals.ca and Urbanation.
Apartment in highest-risk zone around Halifax grain elevator
A City of Halifax report says an apartment building and some homes are too close to a grain elevator in Halifax's south end due to an inherent risk of dust explosion, and any future development should have a buffer zone.
3D concrete homes printed in Alberta
The Siksika Nation is building the largest 3D concrete printed housing project in Alberta with a series of fourplexes near Calgary. It has prepared the foundation, a batch plant is installed and the gantry for a printer is in place.
Renco unveils interlocking building block technology
Renco USA launched its first housing complex composed of its interlocking composite building blocks. The moulded blocks are made of recycled glass fibres, recycled plastic, resin and stone, a material that’s rated to withstand a Category 5 hurricane.
3 B.C. islands listed for less than cost of average GVA house
Imagine your own B.C. island retreat for less than the cost of an average detached house in Metro Vancouver. Two Gulf Islands and one in Cowichan Lake are for sale with the most expensive listed for $1.995 million.
Moving violation: Transplanted house ends up in ditch
A house being moved on a trailer along rural Southwestern Ontario roads near Brantford crashed into a ditch Tuesday morning. The home – which was being transplanted to a new location, not an uncommon sight – crashed following a 'mechanical failure'.
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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