The Canadian appetite for all things luxury continues to fuel demand for high-end housing, with first quarter 2012 sales well ahead of 2011 figures for the same period in most markets across the country, according to a report released today by RE/MAX.
Toronto, ON, May 16, 2012 – A survey commissioned by Royal LePage Real Estate Services showed that intended recreational property buyers have different ideas on generating income from their properties compared to the actual decisions of those who are already in the market. Often, potential buyers will consider renting as a means to finance their purchase.
OTTAWA, May 15, 2012 /CNW/ - According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged up by less than one per cent in April 2012.
On average, a home in Canada costs 84% more than in the United States right now. The national averages are $372,762 at home versus $203,100 south of the 49th parallel. One might argue that something has got to give. By analyzing housing starts in Canada, we can get a good indication of future trends in real estate. Warm weather throughout most of Canada was credited with being the catalyst for a very strong month of March in new homes.
It’s become a mantra among urban planner types: If cities like Toronto are to grow successfully, they must make more efficient use of space. Which partly explains the condo boom. Instead of opting for the kind of houses with big back yards favoured by their parents, new arrivals and the offspring of the existing population are sacrificing all that for affordability and (usually) a central location.
From his office, the chief executive officer of real estate developer Diamondcorp looks south toward the towers of the Toronto skyline. But what Stephen Diamond sees is the extended expanse of tree tops between his office and the downtown core. The houses beneath those trees are the reason the developer is comfortable making big bets on the city’s condo market.
It's not often a Crown corporation bangs its drum loudly, appears to question market sentiment and misrepresents the central bank’s monetary policy — all in the same day. Canada’s housing agency did just that on Tuesday, issuing an annual report that read like a defence of its business practices, and saying that despite concerns by Jim Flaherty, the Finance Minister...
Condominium owners need affordable options for settling disputes with developers and property managers, says a Toronto MPP who is pushing for legislation to give them better protection.
House-building intentions continued to slow in March, but the construction industry as a whole still looked strong thanks to plans for new institutional and commercial building.
The condo bubbles in Toronto and Vancouver are caused by foreign speculation and are making housing unaffordable and creating financial risk for the country in terms of government-insured mortgages. But there’s another issue of vital concern to taxpayers. There are three times more condo high-rises being built in Toronto than in New York City and seven times’ more than in Chicago. This boom is not the market at work, but is manipulation by “hot money” from abroad.
Finding a good mortgage rate online is a cinch. Anyone who has ever looked for rate comparison sites knows the Internet is packed with them. But determining the best mortgage term – the length of the mortgage contract – is trickier because up-to-date term comparisons are hard to find.
Minister of Finance Jim Flaherty and Governor Mark Carney today unveiled the new and more secure $20 polymer bank note at the Bank of Canada's head office, on Wellington Street in Ottawa.
