Weak business investment in Ontario has the provincial economy increasingly dependent on Toronto’s housing market for growth, leaving the province especially vulnerable if the market slows, finds a new study released by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Toronto’s hot housing market is the one leg propping up Ontario’s otherwise weak …
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British Columbia home sales turn higher, inventories at 20-year low : BCREA
The British Columbia Real Estate Association (BCREA) reports that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4 per cent from April 2016. The average MLS® residential price …
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Canada new housing prices rise in March
The New Housing Price Index (NHPI) rose 0.2% in March compared with the previous month, according to the Statistics Canada data released on Thursday. Higher new house prices in Vancouver and Toronto led the gain. New house prices were up in 10 of the 27 metropolitan areas surveyed, with the largest increases in Oshawa (+1.1%) and Guelph (+0.9%). In Oshawa, builders …
Vancouver house prices spillover to surrounding centres : CMHC
Increases in home prices in the City of Vancouver have had a spillover effect in surrounding British Columbia municipalities. Centres within commuting distance of Vancouver City experienced the strongest spillover effect, however, price increases could also be seen in municipalities outside commuting range. This analysis is part of Canada Mortgage and Housing Corporation’s (CMHC) latest …
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CMHC : 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. “This winter has seen Canada’s national housing starts trend upward, supported …
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Canada Pension Plan Investment Board signs agreement to acquire 24.5% interest in Houston office portfolio
Canada Pension Plan Investment Board (CPPIB) announced that it has signed an agreement to acquire an interest in Greenway Plaza and Phoenix Tower (collectively, the Greenway Portfolio), an office portfolio in Houston, Texas, from Parkway, Inc. (Parkway) for an equity investment of US$141 million. The transaction values 100% of the property at US$1.045 billion. CPPIB, …
Vancouver home sales and listings just below 10-year average : REBGV
Residential home sales in the region totalled 2,214 in November 2016, a decrease of 0.9 per cent from the 2,233 sales recorded in October 2016 and a decrease of 37.2 per cent compared to November 2015 when 3,524 homes sold. Last month’s sales were 7.6 per cent below the 10-year sales average for the month. …
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Rental housing vacancy rates in Canada increase in October, says CMHC
The average apartment vacancy rate in Canada’s 34 larger centres increased slightly, to 3.4 per cent in October 2016, from 3.3 per cent in October 2015, according to the fall Rental Market Survey released by Canada Mortgage and Housing Corporation. The Rental Market Survey provides data and analysis for both the primary or purpose built …
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Ideally situated in Toronto’s dynamic new Bayside waterfront neighbourhood:Aquabella
Aquabella is being developed by Tridel and Hines in Queens Quay East, Toronto. The new condo development is expected to complete in 2020.Aquabella is composed of 173 units. Ideally situated in Toronto’s dynamic new Bayside waterfront neighbourhood, Aquabella offers an exciting opportunity for immersion in a luxurious lifestyle at a spectacular condominium. An infinite array …
Vancouver home sale and listing activity dip below historical averages in October : REBGV
Residential property sales in Metro Vancouver decreased by 38.8 percent in October year-over-year to totalled 2,233 from 3,646, decreased by 0.9 percent compared to September 2016, according to the Real Estate Board of Greater Vancouver (REBGV). Last month’s sales were 15 per cent below the 10-year October sales average. “Changing market conditions compounded by …