When the federal government rolled out a mortgage “stress test” last January, it was meant to keep Canadians from taking on more real estate debt than they could afford. A year in, some critics have said it’s pushed home ownership out of reach for younger Canadians and other first-time home buyers, and would like the test tweaked in Tuesday’s federal …
Throwback Thursday: Toronto Skyline Growth
This week’s Throwback Thursday takes us back to January 2017 for a view of the Toronto skyline a seen from a residential tower in the Regent Park neighbourhood. From left to right, this view showed construction underway at the Sun Life Financial Tower and Harbour Plaza Residences complex, Backstage on The Esplanade, the L Tower and its long-lasting temporary work platform and derrick, and 88 Scott …
Excavation Nearing its Final Stages at The One
Excavation on what will be Canada’s tallest building has progressed consistently since our last update four weeks ago. As one of Toronto’s most high profile development projects, The One by Mizrahi Developments will bring a 306-metre-tall Foster + Partners and Core Architects-designed building to one’s of the city’s busiest intersections. In May of this year, Michael Bros Excavation began work …
U.S. real estate giant Zillow adds to its Canadian listings ahead of launch
Online U.S. real estate giant Zillow has struck a listings deal with a second Canadian company, but has not yet announced a launch date for posting those properties on Zillow.com. The company, which has indicated before that it would be launching Canadian listings later this year, would only say that they “will be featured on Zillow.com soon.” Right at Home …
(1 +1 bedr) -1609 – 105 George St Lease $2050
Amazing one bedroom plus den apartment at the amazing post house condos. Fantastic floor plan, Brilliant south view of the lake and the city, bigger balcony, 9′ smooth ceilings, floor to ceiling windows. Steps to Ryerson, George brown, financial district, king station etc. Modern Euro s/s appliances, washer/dryer, built-in dishwasher and microwave. Locker included. Walk to the amazing St. Lawrence …
High-end home sales hit by new rules:
New stress tests, higher rates and the foreign buyers’ tax have rippled into the top of the housing market. But condos are predicted to gain ground. A shortage of supply and hot demand from downsizers is expected to boost the Toronto area’s luxury condo prices by 10 per cent in the next year, although high-end house prices won’t see the …
Who are the condo investors in Toronto? A new study sheds some light
A study, called A Window Into the World of Condo Investors, found that only about 10 per cent of condo investors are international buyers. They are a ghostly presence in Toronto’s property market – the buyers who gobble up the most and best units at developer pre-sales in the towers sprouting across the region. Until now, not much has been …
Tight supply drives up new house prices and condo values in February: Report
Fewer than 20 per cent of new single-family homes priced under $750,000 There is little relief so far this year for first-time buyers in the Toronto region looking to purchase a new construction home. The overall limited supply of newly built and pre-construction homes is particularly severe in the single-family category — detached, semi-detached and townhouses — priced for first-time …
Condo construction starts hit new record in Toronto
Most of the new condo sales that occurred over the last year and a half are in projects that haven’t even broken ground yet. The red-hot condominium market drove an increase in new home construction in Canada last month as starts of single detached houses continued to fall, new data shows. Housing starts rose to 229,737 in February, a 7 …
Tumbling Toronto home sales signal a return to normal market, say analysts
Convergence of higher rates, government policy and new mortgage rules hit home sales. But that doesn’t mean homes are more affordable. The numbers are coming and they won’t be pretty. That’s what data-tracking realtor John Pasalis expects when the Toronto Real Estate Board issues its official February home sales statistics next week. Although prices appear relatively flat, house sales were …