By: Natalie Korchuk

Toronto is becoming The New York of the North

Tags: GTA home prices, Toronto home prices, buy home in Toronto, real estate Toronto

House prices in Toronto will continue to be out of reach of many homebuyers even if there is moderation in the coming years. That’s according to a new report by TD Economics that highlights government regulations and taxation among the factors affecting affordability. The report says that the policy of pushing for high density with small units has led to an increasin...Read More

By: Natalie Korchuk

Low interest rates will boost buyers confidence

Tags: Mortgage rates, Buying power, buy a home

As the Royal Bank of Canada leads other major banks in lowering five-year fixed mortgage rates, some industry experts believe there won’t be much of an impact on how the housing market performs in 2015.   “I don’t believe a quarter-point will make a significant difference,” said Justin Kua, a real estate agent in Toronto. “First-time buyers ar...Read More

By: Natalie Korchuk

Condo investment in the Greater Toronto Area has reached new high

Tags: new condo, newly built condo, GTA condo, condo market, new condo market, invest condo, buy condo, buy GTA condo

  This year condo investors has reached a level not seen in two years, according to the market stats.  Total of 4,753 new condos were sold during the third quarter of 2014, representing the third best summer for the market, behind 2011 and 2007, and a 53% year-over-year increase from a 10-year low in 2013.  Shaun Hildebrand, senior vice president of Urbanation, says: “S...Read More

By: Natalie Korchuk

Canadians spend more of their income on housing

Tags: Household spending, Canadian household, paying mortgage quicker, household expenses, income and spending, house spending, paying mortgage

According to the recent report by Black Rock, Canadians pay out 43 cents of every dollar of their income on housing related expenses. These expenses include mortgage payments and utilities, house upgrades and furniture, etc. One of the reasons the Canadians spend more on household costs is the wish to pay down mortgages quicker. The cost of living is a major concern for many (68% according to the ...Read More

By: Natalie Korchuk

September Market Watch

Tags: october, 2014, market watch, homes, toronto, treb, real estate, houses, house prices, house price

  October 3, 2014 -- Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014. This result represented a 10.9 per cent increase compared to September 2013. On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 per cent annually to 73,465. "Des...Read More