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Value of building permits falls in March. Vancouver reports the largest decline, while Montréal sees the biggest increase.
The value of building permits issued by Canadian municipalities fell 5.8% to $7.0 billion in March, marking a second consecutive monthly decrease. Nationally, the decline was mainly the result of lower construction intentions for multi-family dwellings, particularly in British Columbia and Ontario. All provinces and territories, except Ontario and Quebec, registered decreases in the total […]
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Ontario just introduced a 16-point plan to control real estate, including a Foreign Home Buyer Tax
On April 20, 2017, the Ontario government introduced the Ontario's Fair Housing Plan, a 16-point plan to control real estate, address the demand for housing, increase supply, and protect buyers and renters. The 16 measures in the plan include a legislation that would implement a new 15 % Non-Resident Speculation Tax (NRST), similar to the 15 % […]
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Wynne Not helping Sellers Win!
The non resident buyers tax is really a measure to try and eliminate speculative participation in the residential real estate market in Ontario. Sousa said that they estimate foreign buyers account for approx 8% of purchases being made. This may account for a reduction in offers from these sorts of individuals but the government is […]
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Canadian home sales climb in February
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in February 2017. Highlights: National home sales rose 5.2% from January to February. Actual (not seasonally adjusted) activity in February was down 2.6% from a year earlier. The number of newly listed homes was […]
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Easily increase your home's resale appeal
By Scott McGillivray (NC) Homes that show well and have great features typically sell faster than their counterparts, sometimes for a premium. If you want your home to stand out, a little effort can go a long way. Try these tips to create an enticing first impression. 1. Clean. A neat, clean home shows pride of […]
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Canadian housing starts trend upwards in February
Housing starts are now on pace to hit 204,669 units in Canada, whereas January saw them hitting 200,255 units, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. Monthly highlights - Condominium starts in the Montréal area increased considerably […]
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CREA Updates and Extends Resale Housing Market Forecast
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018. Canadian housing market trends continue to display considerable regional divergence. In British Columbia, activity in the Lower Mainland has cooled markedly from all-time highs […]
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