Industry News

Construction cost escalators still in play

Construction cost escalators still in play

Construction costs are generally highest in Vancouver across all multifamily categories, including low-, mid- and high-rise concrete buildings and low-rise wood-frame apartments up to six storeys.
flipping property tax

CRA introduces new rule to deter property flipping

Canada has introduced a new rule for the 2023 taxation year that will impact property owners engaging in property flipping for capital gain.
condo owners

Condo owners saw home values decline in 2023

Condo owners who bought their units at the end of 2022 saw their homes values decline across 26 markets last year.
Federal government

Federal government extends foreign buyer ban

Foreign commercial enterprises and people who are not Canadian citizens or permanent residents will continue to be prohibited from purchasing residential property in Canada.
housing

OREA report calls for more bold action

In a new report, OREA builds on the HATF’s 55 recommendations to boost housing supply in 2024 and assesses the government's efforts to date.
condo sales

New condo sales fall to 15-year low in GTA

New condo sales in the Greater Toronto Area are at their lowest since 2008 at 12,716 units, according to new data from Urbanation.
housing

NIMBYism influencing housing supply, study finds

Researchers found that local politicians tend to cater to the wants of homeowners who are more likely to be long-time residents and voters.

Leon’s furniture announces plans for mixed-use development

Leon's is one step closer to developing a master-planned residential community on 40 acres of land it owns at Highways 401 and 400.
StreetSide Developments

StreetSide Developments to build its first concrete tower in Surrey

The 34-storey high-rise will bring more than 340 homes to the heart of the business district along 104 Avenue.
construction

More stability predicted for TO home market

There is anticipation that more buyers and sellers will realize that the current rates, though higher than recent lows, remain historically low.
Inlet District

Wesgroup moves forward on Inlet District

The 14.8-acre site in Port Moody is located in the area formerly known as Coronation Park.
home

Many Canadians are serious about buying a home in 2024

Alberta has the highest proportion of potential homebuyers, a new survey suggests.
mortgage

Mortgage experts predict declining rates

After a year of rate hikes, mortgage experts are predicting gradual cuts starting in mid-2024.
emissions

Burnaby implements new emissions standards

Burnaby's new standards for emissions reductions will meet the city’s long-term climate action goals.
Julie Di Lorenzo named to Order of Ontario

Julie Di Lorenzo named to Order of Ontario

A trailblazer for women in the real estate industry, Julie Di Lorenzo has been actively involved in all aspects of high-rise residential development for nearly 40 years.
safest cities

New study ranks Canada’s safest cities

A recent study conducted by the money experts at Money.ca reveals the top ten safest cities to live in Canada using data from Canadian Crime Index.
OREA

Housing affordability now “top priority” for Ontarians

New polling from the Ontario Real Estate Association (OREA) confirms that the majority of Ontarians are concerned about housing affordability and the high cost of living.