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Vancouver, Toronto housing markets cool; Prairies, Quebec remain bouyant
Van., Toronto housing markets cool; Prairies, Que. bouyant
Housing sales remain slow and rents have decreased in some of Canada’s largest and priciest markets, but some cities in the Prairies and Quebec have home prices and rents moving upward, according to two housing reports this week.
GTA housing developments going into receivership
Toronto is seeing a problematic trend of entire new communities, and/or the firms behind them going into receivership, leaving buyers to stress about if and when they will move into new homes they've been waiting for.
Toronto condo sales are tanking — but prices aren’t budging
Condominium sales in downtown Toronto have tanked, but prices have barely budged thanks to over-leveraged sellers refusing to take a financial hit by listing their units for tens of thousands of dollars below what they bought it for.
Vancouver’s high-end condos hit by China’s downturn
Many of Vancouver's luxury condos have been aimed at the international market. And while many factors explain the fading fortunes of condos in urban Canada, analysts also point to globalization, particularly the trans-national effects of China’s depressed housing sector.
Govts. see modular as part of Canada’s housing solution
Government initiatives, both federally and provincially, addressing the national housing shortage are beginning to intersect. Together, these seek to speed up housing construction through pre-approved housing designs, modular processes and more efficient building approval processes.
Cash flow appeals to manufactured home park investors
The rapid pace of delivery is driving the appeal of manufactured housing parks, a low-cost housing option for close to 60,000 households in B.C., and the asset of choice for many new investors.
City of Ottawa, Ashcroft end infra battle over Orléans project
Homeowners who bought into Ashcroft Homes' Eastboro development in Ottawa's Orléans community in 2019 — and spent over a year looking at completed homes they couldn't live in — could soon see an end to their residential limbo.
B.C. builder OEHB faces mounting legal battles
Penticton, B.C.-based construction company Okanagan Extreme Home Builders (OEHB) has been served numerous lawsuits throughout 2024, facing mounting claims of hundreds of thousands of dollars in allegedly unpaid bills.
High cost of housing has young Canadians on the move
VIDEO: Marc Desormeaux, economist at Desjardins Group, discusses why sales activity was weak in June despite an interest rate cut from the Bank of Canada, and why young Canadians are choosing to relocate due to the high cost of housing.
Canadian parents are holding the housing market together
On average, Canadian parents are giving their kids $115,000 to help with a down payment, up 73 per cent from 2019. And it’s not just cash; parents are also signing on the dotted line.
Post-secondary students skip meals to pay for housing
Post-secondary students across Canada are skipping meals, relying on food banks and facing an increasing number of housing scams as they contend with skyrocketing rental costs and a lack of on-campus housing.
Multigenerational and creative living solutions on the rise
The real estate industry in Canada is adapting to a new and growing trend in the marketplace: multigenerational living. More and more Canadian families are seeking creative housing solutions in light of today’s affordability challenges.
Mattamy Homes grows presence in Arizona
Toronto-based Mattamy Homes, North America's largest privately owned homebuilder, has purchased 88 acres of land in Waddell, Ariz. The new community, to be known as White Tank Vistas, will add 243 single-family homes to the area upon completion.
Wahi expands to Alberta, launches AI system in province
This week, digital real estate platform Wahi announced its expansion to Alberta. This follows its launches in the Greater Toronto Area and other Canadian markets in 2022. Wahi is also offering Alberta residents a first-of-its-kind AI-enabled realtor matching system.
The major flaw in Ottawa’s bid to protect more renters
OPINION: The feds’ new Co-operative Housing Development Program (CHDP) provides $500 million in direct funding and another $1 billion in low-interest loans to create more co-op housing. But that is just a baby step.
U.K. builder Bellway makes C$896M takeover bid for Crest
Bellway Plc has made a new offer to buy rival Crest Nicholson Holdings Plc in what would be one of the U.K.’s biggest-ever homebuilder acquisitions. Crest Nicholson rejected Bellway’s previous bid in May because the offer price was inadequate.
U.S. suburbs growing faster than cities: report
According to an analysis by StorageCafe, millennials have led the revival in suburban living. The need for larger homes and outdoor spaces, safer communities, and better schools are among the factors driving millennials toward suburban living.
Global cities are cracking down on short-term rentals
Short-term bookings, often defined as stays shorter than a month, reduce the supply of long-term rentals in local markets and are frequently blamed for exacerbating housing shortages. Barcelona pledged an outright ban on short-term rentals in June.
Vancouver to block mountain views to build housing
Vancouver councillors have voted in favour of cutting off the iconic vistas for some residents. The plan is to liberalize planning guidelines to make it easier for homebuilders to erect extra, higher towers — at the cost of cutting off views.
Versace-inspired Vancouver house hits market for $17.8M
A stylish new house has hit the Vancouver real estate market. Inspired by famed luxury fashion house Versace, the recently completed house at 6615 Balsam St. in South Vancouver is listed for sale at $17.8 million.
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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