Real Estate Market Canada

New Homeowners Are Picking The City Over The Suburbs

CP | Linda Nguyen, The Canadian Press | Posted 12.27.2014 | Canada Business

TORONTO - Homeowners who choose the convenience of city life over the more generous living space in suburbia are driving Canada's real estate market, ...

Buying A House Is All In Your Head

BuzzBuzzHome | Brittany Devenyi | Posted 08.22.2014 | Canada Business

BuzzBuzzHome: During a viewing appointment in late July, Antonios Tsatsakis cracked open the door of a two-bedroom suite in Toronto, and was greeted b...

Selling a Condo in a Slow Market? Try This Tip

Nathan Dautovich | Posted 02.18.2014 | Canada Business
Nathan Dautovich

Another thing condo owners do to try to differentiate themselves is spend thousands of dollars on upgrades. This is usually a bad investment as only a fraction of that is recouped when the condo sells. Industry data shows that similar sized units sell for similar prices, regardless of any upgrades done.

Canadians Bailing On Housing Market: RBC

CP | The Canadian Press | Posted 05.26.2013 | Canada Business

TORONTO - The number of Canadians expecting to buy a home within two years has dropped dramatically even though overall confidence in real estate rema...

The Condo Boom Is Back (This Month, Anyway)

CP | The Canadian Press | Posted 05.08.2013 | Canada Business

OTTAWA - A big month-to-month jump in multi-unit housing construction is being credited with a higher rate of Canadian housing starts in February.Cana...

Is Canada's Mortgage Insurer Trying To Hide Data On Foreclosures?

The Huffington Post Canada | Daniel Tencer | Posted 02.28.2013 | Canada Business

Canada’s government-run mortgage insurer is playing down suspicions it’s trying to keep information from the public about foreclosed homes it’s ...

Illicit Chinese Cash Flooding Canada’s Real Estate Market: Report

The Huffington Post Canada | Daniel Tencer | Posted 01.23.2014 | Canada Business

Chinese nationals are bringing illicit cash into the country by the briefcase, and at least some of it is ending up in Canada’s real estate market, ...

Housing Prices Cooled In September: Survey

CP | The Canadian Press | Posted 12.24.2012 | Canada Business

TORONTO - A new survey says Canadian home prices weakened in September as new mortgage rules introduced in the summer appeared to keep some buyers out...

Bubble Bursting Nationwide: Report

CP | Julian Beltrame, The Canadian Press | Posted 11.24.2012 | Canada Business

OTTAWA - Canada's housing market appears to be cooling across the board in the face of tighter mortgage rules that affect many first-time buyers of mo...

'Like Looking In A Funhouse Mirror'

CBC | Posted 09.22.2012 | Canada Business

When someone asks how house prices are doing in a particular neighbourhood, the question seems easily answered. The big real estate boards...

Home Prices To Fall, TD Warns

CBC | Posted 09.12.2011 | Canada

The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday. Calling it a "moderate correction," the report's authors also say sales will decline by more than 15 per cent over the same period. "A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to be the chief culprits behind the slowdown," the report said. TD economists profiled 12 urban markets across the country. They highlighted Vancouver and Toronto -- currently the two most expensive housing markets in Canada -- as the cities most vulnerable to a larger-than-average decline, "reflecting in part their exposure to the condominium segment, which appears particularly ripe for a correction." No city will experience a housing boom in the near-term, the authors say. But price drops in Regina, Saint John, N.B., Halifax, Calgary and Edmonton will be less than the average -- what the report calls "a soft landing." On a national basis, the report's prediction of an average 10.2 per cent price decline translates into an average resale price of $329,000 in 2013, down $38,000 from its 2011 peak. But the red-hot Vancouver market, where the average resale home now goes for about $793,000, the authors predict a 14.8 per cent decline by 2013 to a still lofty $675,000 -- a drop of $118,000. "Vancouver has been the poster child for those individuals worried about a real estate bubble here in Canada," the report says, with the authors pointing out that household debt levels are higher in Vancouver than in any other city. Toronto's forecast price drop over the same period will be almost as dramatic -- an 11.7 per cent cent decline to $415,000 by 2013. That's $55,000 lower than the current peak. The authors note that sales are already off their peak. But they say the biggest drivers of housing demand are likely to remain "supportive" for the rest of 2011. The bulk of the price correction will come in 2012 and 2013, they say. TD economists say the Bank of Canada is likely to start hiking interest rates again at the start of 2012. With the central bank's policy rate directly tied to variable rate mortgages -- which 40 per cent of current mortgage holders now have -- the authors point out that a $400,000 mortgage will cost $440 a month more to service by mid-2013, assuming the Bank of Canada raises its key overnight rate from the current 1.00 per cent to 3.00 per cent by that point. The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday.