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Madison's Brooklin Towns tap into Whitby's growing population
Madison's Brooklin Towns tap into growing Whitby population
“Phenomenal potential” is how David Singer, the vice-president of Madison Group’s low-rise communities, describes its Brooklin Towns development in Whitby, Ont.
CMHC head Romy Bowers resigns, Tremblay interim CEO
A search is underway for a new CEO of Crown-owned housing agency Canada Mortgage and Housing Corporation after Romy Bowers announced she is resigning. Bowers is leaving for a director's position at the International Monetary Fund.
Metro Vancouver OKs dev. fee hikes despite Ottawa's warning
Despite a push by Canada’s housing minister asking it to reconsider, Metro Vancouver’s board has approved big increases to fees on new construction. Municipal politicians who make up Metro Vancouver’s board bristled at what they described as a federal intrusion.
Vancouver debate: Municipal golf courses or land for housing
Playing golf is on the rise in Vancouver, and a new park board report recommends development of a 10-year plan to preserve its six municipal courses – substantial money makers for the city – and designate them for park use only.
87 B.C. communities have applied to the HAF
The Housing Accelerator Fund (HAF) is being applied across Canada to build more homes, with 87 municipalities in B.C. having submitted applications to access this federal support, according to the Canada Mortgage and Housing Corporation (CMHC).
Scary! Vancouver is the worst city for housing affordability
Median household income in Vancouver is $86,988, which can support a purchase price of $347,000 with an insured mortgage or $411,000 with an uninsured mortgage. The average home price in Vancouver is $1,211,700.
Victoria Roundhouse project to go to public hearing
Victoria city council has unanimously voted to move the long-planned 10-acre Roundhouse development in Vic West to a public hearing. With only minor amendments submitted this week, it was agreed the plan should be considered by the community.
Underwater property in Pickering for sale for $60 million
Frenchman’s Bay on Lake Ontario is home to rare plots of underwater property. On sale for $60 million are 12,500 square feet of lakefront land, 133 underwater acres in the bay and 34 acres under Lake Ontario.
Have an exit strategy if private mortgages are the only option
As tougher lending requirements have more homeowners turning to the private mortgage market, brokers say having an exit strategy is crucial, or they risk falling into a debt trap that could force sale of property.
Will sky-high rates lead to first-time buyer price break
If you apply today for a standard uninsured mortgage, you need to prove to the lender you can afford payments with an interest rate of 8.14 per cent or more, the highest mortgage qualifying rates since 1995.
UHT penalties could spook some homeowners on Oct. 31
Ottawa’s underused housing tax (UHT), which took effect at the start of 2022, imposes an annual one per cent levy on the value of residential real estate owned by foreign nationals when the property is considered vacant or underused.
Public support for immigration has fallen sharply in a year
Public support for immigration has fallen sharply over the past year. Forty-four per cent of Canadians think immigration levels are too high, up from 27 per cent last year, according to a survey commissioned by the Century Initiative.
Ontario mayors say rules for housing fund penalize them
Ontario’s big city mayors are asking the provincial government to change the eligibility for a $1.2-billion fund, saying as it stands cities will lose out on much-needed funding for housing infrastructure due to factors outside of their control.
Ontario gov't braces for new wave of Greenbelt scandal
The Ontario Government's $8.28-billion Greenbelt land swap scandal — already under criminal investigation by the RCMP — is about to enter a new phase that has MPs worried as documents are soon to be released under freedom of information legislation.
B.C. court upholds $6 million foreign buyer tax bill
A B.C. court has upheld the legitimacy of a tax bill sent to a developer linked to the Chinese government. In addition to property transfer tax of $1.418-million it now owes $6-million foreign buyer tax.
RE/MAX Kelowna fined $150K by FINTRAC
A Kelowna real estate broker has been fined more than $150,000 for failing to comply with federal anti-money-laundering rules. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) penalized Norwich Real Estate Services Inc. in late August.
B.C. approves short-term rental legislation without amendment
The B.C. government gave Royal assent to legislation that will regulate the short-term rental market across the province. It rejected amendments proposed by the opposition that would have narrowed the definition and number of accommodations that need to be registered.
Airbnb says it's using AI to police Halloween parties
Airbnb announced it is deploying an “AI-driven anti-party system” across North America in hopes of shuttering Halloween parties before they start. Facing increased scrutiny in B.C., Airbnb claims its artificial intelligence software has already prevented thousands of potential problematic bookings.
Edmonton considers 7% tax increase as police, utility costs rising
Edmonton property taxes are poised to rise about seven per cent next year, the highest increase since 2014, with much of the higher-than-anticipated increase tied to more spending on police and utilities.
U.S. second home sales slide in pandemic-era hot spots
The share of secondary homes within the U.S. housing market fell to 16% in August, from a peak of 22% in January 2022 and just above the 14% average maintained 2015 to 2020 according to National Association of Realtors data.
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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