Canada’s one stop platform and the #1 National voice to the rental housing industry

Development

National Home Affordability Study

Posted in Appraisal, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

National Home Affordability Study

The number of bedrooms is without a doubt one of the most important criteria when searching for a home. So, exactly how much house can one get across Canada? Our researchers took the national average home price (~$500K) as a reference point and analyzed the country’s 50 largest cities to determine the number of bedrooms it can buy in each. VIEW RESULTS Here are some key takeaways you might want to explore: At the nationwide level, the Canadian average home price ($495,100) buys 3.3 bedrooms;...

read more

Toronto condo rents surge amid ‘critically low’ supply: Urbanation

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Toronto condo rents surge amid ‘critically low’ supply: Urbanation

Supply in Toronto’s already-tight rental market has hit a “critically low level” while rents continue to rise, warns Urbanation Inc. A new report released Thursday by the real estate consulting firm revealed that condo lease transactions fell eight per cent to 7,754 units in the second quarter amid tight supply. “Current rental supply has fallen to a critically low level,” said Urbanation President Shaun Hildebrand in a release.   “Demand has been pouring into the market while rental...

read more

‘There are worries ahead’: Experts react to Bank of Canada’s rate hike

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

‘There are worries ahead’: Experts react to Bank of Canada’s rate hike

The Bank of Canada raised its benchmark interest rate by a quarter percentage point to 1.5 per cent Wednesday, even as the economy faces fallout from widening trade uncertainty. Here’s a look at what economists and analysts are saying about Governor Stephen Poloz’s fresh interest rate increase. “I thought this was about as neutral a statement as you possibly can put into the marketplace given that you have hiked rates…We’re pretty much in uncharted territory in the sense of we’ve never...

read more

Don’t blame real estate investors for rental market woes

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Newsworthy

Don’t blame real estate investors for rental market woes

Unlike owner-occupied housing, our understanding of rental housing is inadequate at best. Even basic information on the rental market, such as by the type and size of housing and across neighbourhoods, is not readily available. This leaves landlords, investors, and renters make do with incomplete and, at times, dated information. A straightforward question about what percentage of the dwellings in an urban market are rented out by private households requires a serious exercise in data mining....

read more

Is the municipal government sacrificing Vancouver’s future for votes?

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy

Is the municipal government sacrificing Vancouver’s future for votes?

Vancouver’s municipal government has proposed building height caps in Chinatown—but that’s myopic, charges the Urban Development Institute, which believes it will exacerbate the shortage of housing. Metro Vancouver is expecting 65,000 new residents annually until 2021, and UDI is confounded by the municipal government’s proposed cap. “We’re surprised they’d make a move like this in the middle of a housing crisis, and at a time when that area needs revitalization,” said Anne McMullin, UDI’s...

read more

New finance minister declares Ontario is ‘open for business’

Posted in Appointments, Appraisal, Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy

New finance minister declares Ontario is ‘open for business’

Ontario’s new finance minister wants to get the message out that the province is open for business. In his first television interview since being appointed Ontario’s finance minister, Vic Fedeli told BNN Bloomberg on Wednesday that he expects his new government to create a better investment environment in the province. “We are lowering corporate taxes, we are lowering small business taxes, we are lowering hydro costs, eliminating cap-and-trade,” Fedeli told BNN Bloomberg. “Those are all key...

read more

Got $2,166 a month? — you’ll need it to rent a condo in Toronto, if you can find one

Posted in Development, Finance, Housing, Newsworthy

Got $2,166 a month? — you’ll need it to rent a condo in Toronto, if you can find one

Renting an apartment in Canada’s biggest city has become a losing battle as vacancy rates hit all-time lows. The feat is getting even harder, with supply tight and prices showing no sign of retreating. The vacancy rate in the fourth quarter was among the lowest ever, at 0.3 per cent, according to Urbanation Inc. The average monthly rent for a condominium rose by 9.1 per cent to $2,166 from a year earlier. That’s the second-largest increase since 2010, when Urbanation began tracking the number,...

read more

Toronto housing chill may soon extend to high-flying condo market

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Toronto housing chill may soon extend to high-flying condo market

The chill that has crept over some segments of the Toronto housing market may soon extend to one of its persistent hot spots: condominiums. Evidence of a slowdown is emerging as new rules make it tougher to get a mortgage and borrowing costs rise for the first time in almost a decade. That’s reducing the appeal of Toronto condos, whose average price now exceeds $560,000. Projects are taking longer to sell and, in some areas, developers are using incentives to move units. “There are cash...

read more

Tighter mortgage rules continue to take their toll on BC’s deteriorating housing affordability

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Tighter mortgage rules continue to take their toll on BC’s deteriorating housing affordability

Similar to the rest of the country, stricter mortgage regulations that came into effect in January continued to weigh on BC home sales in May. Last month, a total of 8,837 homes changed hands across the province, a roughly 29 per cent decline from the 12,402 units sold a year ago, according to the latest data from the British Columbia Real Estate Association (BCREA), published Friday. “Across the country, the biggest hits [in demand] were in the higher priced markets, so Toronto and Vancouver...

read more

How can Doug Ford fix Toronto-area housing?

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

How can Doug Ford fix Toronto-area housing?

Premier-designate Doug Ford must make housing affordability a priority, say builders, realtors and urbanists. “This really is a generational challenge. The challenge of the folks who are going to live in the GTA over the next 25 years is something that needs to be the central focus of the provincial government,” said David Wilkes, CEO of the Building Industry and Land Development Association (BILD). He was among seven experts who told the Toronto Star how a new Ontario Progressive Conservative...

read more