CMHC : Strong evidence of overall problematic conditions despite some housing markets showing signs of improvement in Canada

Conditions in Canada’s housing markets are showing some signs of improvement but the official overall rating from the Canada Mortgage and Housing Corporation (CMHC) will be held at “strong evidence of problematic conditions”. On a quarterly basis, CMHC issues Housing Market Assessment (HMA) to provide Canadians with both expert and impartial insight and analysis, based …

Canada’s CMHC releases updated road map to homeownership

Canada Mortgage and Housing Corporation (CMHC) has released a guidance –Homebuying Step by Step– for Canadians which  seeks to demystify the process of buying a home in Canada. It’s been revised to better reflect the realities of today’s housing market by illustrating how to assess financial readiness, providing tools to help prospective homebuyers calculate how much they …

Housing affordability continues to deteriorate in Canada

Despite cooling home resale activity overall, housing affordability deteriorated further across all markets in Canada in the third quarter of 2016, according to the Housing Trends and Affordability Report issued by RBC Economics Research. Owning a home at market price in Canada in the third quarter was the least affordable in nearly eight years. RBC’s …

Canadian housing starts trend held steady in November, says CMHC

The trend measure of housing starts in Canada was 199,135 units in November compared to 199,641 in October, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “Housing starts kept a steady pace in November as upward trends …

Foreign investment in residential real estate in Metro Vancouver 1.3 pct of total sales since tax

Foreign purchasers were involved in 1.8% of the 5,150 residential property transfers in Metro Vancouver in September, accounting for 1.8% of the total value of properties transferred in that period, according to the British Columbia government. Since the additional property transfer tax was introduced Aug. 2, 2016, the rate of foreign investment in residential real …

New condo developments in Toronto : Lago Condos

Lago Condos is being developed by Mattamy (Monarch) Limited in Lake Shore Boulevard West, Toronto. The development is composed of 436 units with 50-stories.It is expected to complete in 2016. Sales for available units range in price from CAD$529,990 to over CAD$$880,990.Units sizes are changing between 712 sq-ft and 1,372 sq-ft.The development is designed by …

Canadian home prices rise 2.3 percent in June

According to The Teranet–National Bank National Composite House Price Index, Canadian home prices rose by 2.3% in June thanks to monthly gains in ten of the eleven regions covered. Vancouver led the pack with a monthly rise exceeding 2% for a fifth month in a row. On a y/y basis, the national index was up 10.0%, …

Lago Condos by Mattamy Homes in Toronto

  Lago Condos is being developed by Mattamy (Monarch) Limited in Lake Shore Boulevard West, Toronto. The development is composed of 436 units with 50-stories.It is expected to complete in 2016. Sales for available units range in price from CAD$529,990 to over CAD$$880,990.Units sizes are changing between 712 sq-ft and 1,372 sq-ft.The development is designed …

Overvaluation detected in Canada housing market, says CMCH

Overvaluation is detected in nine Census Metropolitan Areas (CMAs) and overbuilding in seven, according to the latest Housing Market Assessment (HMA) released by the Canada Mortgage and Housing Corporation. Nationally, CMHC detects moderate evidence of overvaluation. The HMA serves as an early warning system, alerting Canadians to areas of concern developing in our housing markets …

Canadian housing starts decrease in January

According to Canada Mortgage and Housing Corporation (CMHC), Canadian housing starts was 199,169 in January compared to 203,304 in December. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “Housing starts trended down across the country with the exception of Ontario,” said Bob Dugan, CMHC Chief …