Housing Market

Luxury housing market

CondoBusiness

National luxury housing market on upturn

Royal LePage has recently released the findings to a national survey of residential luxury real estate professionals on current and long-term trends in the luxury
REMI

CondoBusiness

CREA expects rebalanced housing market in 2016

The Canadian Real Estate Association (CREA) has updated its forecast for home sales through the MLS Systems for 2016 and has also included 2017 in
Overbuilding

CondoBusiness

Overvaluation to impact markets in 2016: CMHC

The latest Housing Market Assessment (HMA) from Canada Mortgage and Housing Corporation (CMHC) reports moderate evidence of overvaluation in housing markets across Canada during the
New home

CondoBusiness

Fall in prices could devastate young homeowners

According to a study released Nov. 9 from the Canadian Centre for Policy Alternatives (CCPA), young homeowners will be the most affected by a correction
Young couple moving in new house

CondoBusiness

Non-permanent residents shape housing market

According to a new CIBC World Markets report, non-permanent residents (NPRs) of Canada are reshaping the country’s housing market. The report, which notes that NPRs have now reached record levels, at 770,000 people, says this demographic is a major force capable of influencing macro-economic variables like housing activity.
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CondoBusiness

Household debt levels a cause for concern: report

A new report from the International Monetary Fund (IMF) is raising concerns about the stability of Canada’s housing market. According to the global economy forum, Canadian household debt levels are among the highest recorded in Western countries.
Ottawa

CondoBusiness

Ottawa home sales down in February: OREB

According to data from the Ottawa Real Estate Board, a total of 853 residential properties were sold in Ottawa during the month of February, a decrease of 1.7 per cent from the year prior. The sales figure is also below the five-year average for February, which is 914 units.
construction activity

CondoBusiness

Housing bubble definition inconclusive: report

A new report from Fortress Real Developments (Fortress) revealed that two-thirds of market experts agree that a major housing correction is not in the cards for Canadians over the next five years. In fact, the report, which sourced data from a variety of professional resources, said that analysts could not agree when it came to defining a “housing bubble.”
Toronto

CondoBusiness

February home sales up over last year: TREB

Despite record low temperatures recorded in Toronto this February, home sales increased by 11.3 per cent on an annual basis, according to the Toronto Real Estate Board (TREB). A total of 6,338 home sales were registered through the TorontoMLS system and increases were seen across most major housing types.
REMI

CondoBusiness

National home sales soften in January: CREA

National home sales fell 3.1 per cent from December of last year to January 2015, according to the latest month-over-month analysis from the Canadian Real Estate Association (CREA). Although fewer sales were recorded in approximately 60 per cent of all housing markets, the country’s weakest markets altered national totals significantly. These regions included Edmonton, Sask. and Calgary, Alta.
Edmonton

CondoBusiness

Alberta housing market to moderate this year

According to the Alberta Economic Outlook Q1 2015 report, prepared by the ATB Financial Economics and Research group (ATB), housing investments in Alberta are projected to remain flat or slightly lower in 2015, despite record-setting levels of residential building permits in Q3 2014. Factors affecting this prediction include slower population growth, increased caution on the part of developers and home buyers, heightened investor nervousness, and a softer job and wage market.
Toronto Condos

CondoBusiness

T.O. condo completions break records: RealNet

Statistics gathered in September marked 2014 as a record-breaking year for condo completions in Toronto, according to an article from the Toronto Star by George Carras, President at RealNet Canada Inc. (RealNet). Completions in the first nine months of the year broke the previous year’s record of 16,668 units. Carras attributes this growth to intensification policies and growth plans introduced in Ontario in 2005.
REMI

CondoBusiness

Home sales up from November last year: CREA

According to the latest data from the Canadian Real Estate Association (CREA), Canadian home sales increased, year-over-year, by 2.7 per cent in November. Similarly, the average national sale price rose 5.7 per cent when compared with data from November 2013.
JLL launches PM services

CondoBusiness

Calgary’s condo sector breaks area records: CREB

Year-to-date sales growth in Calgary’s condominium market is breaking records, according to data collected by the Calgary Real Estate Board (CREB). Throughout the region, all housing types experienced a growth in year-to-date sales. However, condominium apartment and townhouse sales are currently standing at record levels, with a combined increase exceeding 19 per cent.
home

CondoBusiness

Luxury condo enters construction in Oakville

The Randall Residences, a luxury condominium development in Oakville, O.N., has entered construction. The amenity-rich project by Rosehaven Homes, inspired by Parisian Beaux Arts architecture, is over 60 per cent sold and only three of ten two-storey penthouse suites remain available for purchase.
Toronto Condos

CondoBusiness

Housing affordability increased in Q3: RBC

According to a recent Housing Trends and Affordability report from RBC Economics, housing affordability in Canada increased in the third quarter of 2014, despite an upward trend in house prices. Factors affecting affordability included declines in fixed mortgage rates, rising incomes and reduced utility costs, say economists.