New home market at typical activity level in October October was a busy time in the GTA new home market, as is typically the case every year. Single-family home sales, with 1,296 detached, linked and semi-detached houses and townhouses (excluding stacked townhouses) sold, were up 178% from last October’s near-record low and even with the 10-year average, according to Altus Group* Sales of...

5 things renters, short-term rental hosts and visitors should know about the changes Despite Toronto's decades-long condo building boom, the city statistics show that the vacancy rate has fallen. In fact, the rental market is almost as tight as it was in 2001. (Michael Wilson/CBC) Stricter rules governing Airbnbs and other short-term rentals in Toronto are coming following a decision...

Family friendly condos in Toronto really do exist. The trick is where to find them and understanding the pros and cons of raising a family in a condo. Condos may not be a one-size-fits-all solution but when it comes to living in Toronto, it is definitely the product of choice. With many buyers unable to afford a single family home, baby boomers looking to downsize, and more families living in condos —...

Purchasers of pre-construction condominium units in projects commenced after January 1, 2020 will benefit from more information that will help them make a more informed purchase.  Agreements of purchase and sale for units where the first purchase agreement for the project or phase of a project is signed after this date will include an information sheet at the front of the purchase agreement that outlines...

CMHC's Housing Market Outlook (HMO) provides the forward-looking analysis Canada’s housing markets. Published annually, this helps anticipate emerging trends in Canada's new home, resale and rental housing markets at the national, provincial and local level. The HMO includes forecasts for important housing market variables such as starts, prices, resales, vacancy rates and rents. CMHC presents...

The GTA new home market was relatively strong in September, both in terms of new home sales and new project openings. There were 3,061 new home sales in September, according to Altus Group. This was up 73 per cent from September 2018 and 6 per cent above the 10-year average. Condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units accounted for 2,107 new...

We've found the perfect condo you've been searching for and you’re ready to make it your home. But before you sign off on your deal, consider these things to ensure you understand your rights as a new home buyer. Get a lawyer to review your agreement The purchase agreement is a critical part of making a new condo officially yours. But before you grab the pen and sign away,...

Buying a pre-construction home can definitely be stressful, especially when your closing date seems to be moving further and further away. And if you need to sell your current residence prior to taking possession of your new home, you know that whether or not your builder meets the closing or occupancy date in your purchase agreement will affect your living situation. While we all wish that builds...

The “Starbucks Effect” may sound like a medical term related to caffeinated beverage addiction, but you won’t find the term in the Canadian Medical Association Journal. Rather, several articles have taken this parlance to describe the phenomena of how a Starbucks store opening increases home and property values. Can the entry of a hip coffee shop predict housing prices? It's something a lot of...

Evaluate the carrying costs Another important factor that every investor should consider in their business model is the carrying cost of their investment. The carrying cost is the total cost of holding or carrying inventory. A condo owner’s carrying costs may include the mortgage, condo fees (such as maintenance), property taxes and insurance. One of the benefits to pre-construction condo...