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New statistics released by the Toronto Real Estate Board once again confirm everyone didn't just wake up to a shortage of land overnight.
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It's just a "stress test," not a prediction.
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They'll hurt resales. They'll only wound prices.
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Prospective homebuyers in Toronto -- get used to one thing: ever-increasing prices. Either that or move further out in the GTA. Or rent. These are the limited options -- and unfortunate unintended consequences -- caused by government policy and market forces in the Toronto area.
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And guess which city tops the world.
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Housing activity in Toronto and Vancouver continues to skew the Canadian home sales picture, as these two markets experience characteristics that are very different from the rest of the country.
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OTTAWA — Statistics Canada says its new housing price index gained 0.7 per cent in May, its largest monthly increase since July 2007. The agency says the rise was mainly driven by higher new housing p...
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It's bad news for prospective buyers. It could be bad for the market, too.
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With so much of the attention focused on Victoria's tent city and Vancouver's skyrocketing home prices in the housing debate, one group is left hollering, "Hey, what about us?" That group is all of the Province's renters, and it's a group worth listening to.
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Buying a home can be an overwhelming experience. From figuring out your budget to deciding what neighborhood works best for you and your family, the considerations are endless.
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Strong historic home price growth might be an expected result, given that real estate is a proven performer over the long term. But looking at price growth in these four-year windows from now to 1984 shows some pretty staggering appreciation.
The Liberal Party promised to "undertake a review of escalating home prices in high-priced markets -- like Vancouver and Toronto -- to determine whether speculation is driving up the cost of housing, and survey the policy tools that could keep home ownership within reach for more Canadians." But this may be one of the first promises to fall by the wayside.
Outside of Toronto and Vancouver, things are pretty flat in the housing market.
It's become a national pastime to fret about the expense of buying a home in certain Canadian cities. But there are a few cities where buying one won't quite break the bank, as it will in other places...
OTTAWA — Canadian home sales grew in October as demand remained strong in the red-hot real estate markets in Vancouver and the Greater Toronto Area. The Canadian Real Estate Association said Monday th...
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The year-over-year rise in the price of Canada's housing in the second quarter of 2015 is one of the highest in the developed world, largely because of low interest rates, according to a report from S...
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Do buyers in the GTA housing market have unrealistic expectations? What is fair when it comes to affordability? I remain convinced that a single-detached home will remain beyond the reach of most people in Toronto, simply due to market fundamentals -- so we'll all have to readjust our expectations. This is where we have a problem. If people are not willing to settle on the type of residence (i.e. condo vs. single-family) or the unit size, prospective buyers are going to really feel the sting of unaffordability.
The Teranet/National Bank house price index hit a new record high in July, largely due to strong growth in the Toronto area and Vancouver, while many other cities struggled with falling house prices....
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OTTAWA - The Canadian Real Estate Association says low interest rates have given buyers confidence and pushed the number of monthly sales in May and June to the highest levels in years.The association...
TORONTO - Home sales accelerated in May to their highest level in more than five years, as some home buyers looked to preempt an increase in mortgage insurance premiums.The Canadian Real Estate Associ...
We've heard the complaints: it's tough to buy a home in Canada. But just how difficult is it? Depends entirely on where you live. Toronto-based website Rentseeker in February generated an infographic...
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Canada consistently ranks near the top on international lists of the world’s most overheated housing markets, with house prices far above historical norms when compared to income. Household debt level...
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BuzzBuzzHome: The price gap between a standard two-storey house and condo in Vancouver just hit $712,027. If you had that kind of money sitting in the bank, you could either upgrade your suite to a si...
The average Canadian home price jumped an annual 6.9 per cent in June, suggesting that the market is still on a tear that has long passed the real estate slowdown many had predicted. The Canadian Real...
Ottawa may need to step in again to cool an overheated housing market that is showing no signs of slowing, according to a global credit rating agency. Fitch Ratings said Monday that Canadian home pri...
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Canada's real estate market may look healthy, but it's showing signs of fraying in certain regions and prices could fall by 25 per cent in the long term. So says a report by Capital Economics, a consu...
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TORONTO - The Canadian Real Estate Association says the number of homes sold last month was up 4.9 per cent compared with the same month last year, but remained below the 10-year average.The industry...
Some economists are calling it a “soft landing,” because sales volumes have fallen and aren’t coming back up, but house prices in Canada showed no signs of easing up in February. Prices for sales of p...
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TORONTO - The latest Royal LePage housing survey shows average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.It says the average cost of a sta...
Note: This story was published in November, 2013. For the latest house price report, click here. House prices in Canada are beginning to show signs of weakness, but that isn’t stopping some market ana...
That old golden rule of real estate -- location, location, location -- is probably more true in Canada than just about anywhere else. From frighteningly expensive Vancouver to the almost suspiciously...