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 …
Toronto home prices climb for first time in six months: Teranet
OTTAWA – Canadian home prices rose in January, supported by continued gains in Vancouver and as prices in Toronto climbed for the first time in six months after being hurt by provincial government moves to cool the market, data showed on Wednesday. The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices …
Even Real Estate Developers Can’t Afford Toronto’s Housing Market
The hottest housing market in the world is facing a reckoning. Toronto-area land prices have gotten so high that developers are struggling to build new homes that people can afford. Buyers are no longer lining up, despite discounts and incentives. The cost of land has nearly tripled in some areas the past five years, according to Altus Group Ltd. It …
The Next Hot Neigbhourhoods
There’s hope for non-millionaires who just want a half-decent house in a nice area with good schools. Our GTA-wide ranking of the top 20 places to buy now. n the past five years, it has become almost impossible for aspiring homeowners to achieve the Platonic ideal: a good-sized house in a safe neighbourhood, with decent schools and leafy green space …
Foreign buyer tax impact mostly psychological, says Sousa
The government had to act because families were being squeezed out of the market, said the minister. The province’s Fair Housing policy, including its 15 per cent foreign speculation tax, has cooled the Toronto area’s overheated housing market, but its impact has been largely psychological, Finance Minister Charles Sousa said Wednesday. “We are tempering not only non-resident Canadians . . …
Toronto home prices outpacing Sydney and Vancouver
According to a recent study, Sydney, Australia’s home prices are the fastest growing in the world…except for in Toronto. That’s right, the study says Toronto price growth is the greatest out of all major cities (populations of 1 million or more). While Sydney home prices grew 18.4% year-over-year, Toronto’s went up 19%. New York trailed with an 11.5% increase, followed …
How the Eglinton Crosstown LRT will transform Toronto
In about five years, Toronto will unveil the largest expansion of the TTC’s rapid transit network since the 1960s. The Crosstown LRT will consist of 25 stops stretching across 19 kilometres of Eglinton Avenue, 10 of which will be underground. While this massive project won’t open until 2021 (assuming it stays on target), it’s already transforming Toronto in profound ways. …
10 OUTDOOR ACTIVITIES THAT WILL MAKE YOU WANT TO BRAVE THE COLD IN TORONTO
TAKE A BREAK FROM NETFLIX AND ENJOY THE GREAT OUTDOORS THIS WINTER SEASON It may be tempting to stay inside all winter with a warm cup of tea and a cozy blanket, but you’d be missing out on everything Toronto has to offer outdoors. Did you know that you can go cross-country skiing and snowshoeing right here in the city? …
GTA real estate market conditions presage further rise in home prices
The Greater Toronto Area is poised for another year of rising home prices as buyers compete amid a scarcity of listings. The price for all housing types sold in the GTA averaged a record $729,922 last year, up 17.3 per cent from 2015. It marks the 20th consecutive year that average house prices have gone up in Canada’s largest housing …