New mortgage rules expected to heat up Toronto housing before winter chill

The sales slump in Toronto real estate is persisting into the fall, but average annual prices across the region are holding up thanks to double-digit price gains in the condo sector. While the industry hoped for, and failed to see, a surge of back-to-school homebuyers, the further tightening of mortgage rules could add some temporary autumn heat. Still, with the …

Google sister company makes ‘bold bet’ with new tech-focused neighbourhood ‘Sidewalk Toronto’

Waterfront Toronto partners with Sidewalk Labs for futuristic development in Toronto. Waterfront Toronto has announced that Sidewalk Labs, Google’s city-building sister company, will be its partner in creating a new tech-focused neighbourhood on the eastern Toronto waterfront. Reports began circulating last spring that Sidewalk Labs, a subsidiary of Google parent Alphabet Inc., was eyeing the unassuming piece of low-slung industrial …

Average Toronto house price rebounds in September

The average Toronto area re-sale home price rose by about $43,000 or 6 per cent in September compared with August. The average Toronto area re-sale home price rose by about $43,000 or 6 per cent in September compared with August — a sign, say some realtors, that the slumped market is waking up, or at least levelling off. “The increase …

Five things to know before buying property from a developer

If you’re eager to get into the housing market, you might consider purchasing a newly, or not-yet-built, condo or townhouse. Unlike buying a previously-owned home, purchasers will have to deal with sometimes tricky contracts and specific rules that come along with buying from a developer. Lisa Corne, partner at Dickinson Wright LLP Toronto, joined BNN to talk about the five …

The top 5 Toronto intersections for condo resales

A study of downtown intersections shows apartments sell for more at Bay and Bloor Sts. and Avenue Rd. and Bloor St. When it comes to resale condos, some of the city’s key downtown intersections appear to be cornering the market with prices up to 23 per cent higher than the citywide average, according to a Tuesday report from TheRedPin. The …

The buyers are back in Toronto’s housing market

After a dismal summer in Toronto-area real estate, market watchers are looking into September for shafts of light. Buyers are moving forward. Some are bold, others are tentative, but they are in motion. But just as buyers shake off their somnolence, sellers appear to be hesitating. Adding to the uncertainty is this week’s rate hike by the Bank of Canada. …

Rising interest rates a warning to consumers that low rates aren’t permanent

The growing use of home equity loans and lines of credit means more Canadians are exposed to immediate changes in borrowing rates, while those thinking about buying a home need to take a prudent look at what they can afford to pay. The Bank of Canada’s second interest rate increase this summer has financial experts warning that more could be …

Midrise housing has bright future in Toronto — whether residents like it or not: Hume

It seems every time a midrise development is proposed, it is treated as if it were an affront to civic good taste and municipal well-being. As Toronto planners tell it, midrise development could well be this city’s saviour. Lining the main streets with four- to 11-storey buildings, they argue, would provide housing for thousands without overwhelming the neighbourhoods of which …

Six figure income needed to buy almost any GTA home: report

As the cost of Toronto-area housing rises, so do the financing challenges for young adults. Report says $200,000 a year is the average income needed for a detached house in Toronto. It takes a six-figure income to afford virtually any Toronto area home — even a condo — and that expense is presenting a considerable financial challenge to an important …

Vancouver new home prices make biggest jump since 1990

The rebound underscores just how difficult it is to control runaway prices in the current economic conditions. OTTAWA—Just as Toronto’s housing market is beginning to slow down, Vancouver’s is roaring back to life. New home prices in Canada’s most-expensive market jumped 1.5 per cent in June, and have gained 5 per cent since March, data released Thursday by Statistics Canada …