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Pre-sales of new low-rises in Toronto take steep dive

Tuesday Oct 31st, 2017

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JANET MCFARLAND OCTOBER 26, 2017OCTOBER 26, 2017 Preconstruction sales of new low-rise homes fell 73 per cent in the Toronto area in September compared with a year earlier as the home-building sector faces major headwinds from the region's housing-market downturn. The Building Industry and Land Development Association (BILD) said builders in the Greater Toronto Area presold just 352 low-rise homes in September – including detached and semi-detached houses as well... [read more]

Six figure income needed to buy almost any GTA home

Sunday Aug 20th, 2017

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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 cohort of millennial consumers. Separate studies from two real estate companies on Thursday paint pictures of the high income... [read more]

Ontario Introduces Measures To Rebalance Provincial Housing Market

Wednesday Aug 02nd, 2017

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April 21,2017 the Government of Ontario announced a slew of measures, referred to as the Fair Housing Plan, intended to address some of the challenges facing the rapidly overheating housing market. The comprehensive set of actions is meant to take a multifaceted approach by helping cool demand, address shortages of supply, and promote affordability in the provincial housing market. Sixteen initiatives can be categorized into three broad buckets: Demand cooling: • A 15%... [read more]

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