Spotlight returns to detached housing in the GTA as soaring sales pull up average price in the first half of 2019, says RE/MAX

While more than 50 per cent of TREB districts report upward momentum in average price, RE/MAX Heat Maps identify areas where opportunities exist

The bounce-back in single-detached home sales is contributing to an uptick in average price, with more than 50 per cent of neighbourhoods in the Greater Toronto Area reporting an increase in detached housing values the first half of 2019, according to a new report released by RE/MAX of Ontario-Atlantic Canada.

RE/MAX examined trends and developments in 65 Toronto Real Estate Board (TREB) districts, finding that detached home sales were up in almost 88 per…

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Toronto currently has the most active cranes in North America. 120 More than the next 4 cities combined! This makes it incredibly difficult to keep up with the new condo & housing developments that fit your personal criteria. Which ones are best for investment or rental income? Personal use or downsizing. It can be overwhelming! 25 years ago, condo buyers were singles in their 30s which is the smallest demographic of people buying today!  Here are some important developments slated for price release in 2019/2020. 

THE WELL - 444 Front St - Downtown Toronto

Built by Tridel, with the first phase selling now, The Well is going to be one of the largest mixed-use community in Toronto, with retail, commercial, office, condominium and rental…

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Toronto has a problem. A good one! The city cannot build office towers fast enough to keep up with the rapidly growing & concentrated job market downtown. As Ontario's manufacturing sector shrinks, tech jobs are flocking to Toronto. So much so, that in 2017, Toronto had the fasted growing tech job market in North America, surpassing the San Francisco Bay Area & Washington DC combined. This trend has no intention of slowing as Google plans to build its new Canadian Headquarters on Toronto's eastern waterfront. A few other notable moves by large companies; 

– Shopify will set up in a new 38-storey tower at The Well, which Allied Properties REIT and RioCan REIT are developing at Front Street and Spadina Avenue (Shopify has taken 253,000 square feet…

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Remember those famous, tall, smokey coal stacks on that amazing lakefront property in south Mississauga? Check out the developers rendition of the Lakeview Village Development and you will quickly forget it.

 

If you don't live in Port Credit or South Mississauga/Lakeview, you may not have heard about the BIG upcoming changes to the waterfront land in that area. The City of Mississauga is in the midst of the approval process of a complete re-development of the the waterfront.  "Lakeview Village" is what the future community will be named and will see a complete overhaul of the area east of Port Credit & Lakeshore Rd.  The proposed development will be situated on on the 177 acre parcel of land formerly home to the "4 sisters" coal stacks at…

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Late last year, Toronto City Council adopted the Official Plan and Zoning By-law amendments permitting laneway suites in specific neighbourhoods within the City. Laneway Homes have been gaining popularity in cities like Vancouver for a number of years and began as an effort to help with the urban density and affordability issues the city was experiencing. Toronto has been facing some of these same challenges and this decision has cleared the way to allow Laneway Housing to become an option with a lot less red tape than before. Its no secret that densification, lack of sufficient rental property (outside of condominiums) combined an abundance of under-utilized space within certain neighbourhoods have created the need to find creative and sustainable…

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March in Ottawa was nothing short of tumultuous (confusing...loud...& noisy). Making the water in Ottawa a little more murky, enter the 2019 Federal Budget, just ahead of the federal election in October. The Liberal government released a $22.8 billion dollar budget touching on a number of themes like pharmacare, job skills training, seniors, indigenous programs, electric vehicles to name a few. Perhaps the most intriguing was $1.25 billion dollars in stimulus for First Time Homebuyers in Canada. This is an enticing pitch to new homebuyers that would see the Canada Mortgage Housing Corporation (CMHC) contribute up to 10% of the purchase price in what the government is calling a "shared equity mortgage". The purpose would be to help lower buyers monthly…

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 "Rome wasn't built in a day"

And neither will the new Etobicoke Civic Centre. In preparation for this undertaking Etobicoke has spent the better part of 10 years tackling what to do with the "spaghetti junction" intersection of Bloor, Dundas & Kipling in Etobicoke. Since the 1960's this loopy intersection has been been..well...loopy. Imagine taking your favourite marker, closing your eyes and drawing figure 8's on a blank page. When you open them and look at the page you might get a sense of  what the current 6 points interchange looks like. But not for long! the 10 year consultation project has ended and one of Toronto's biggest undertakings is well under way. As the city begins bridge removal on the Bloor overpass just above Kipling, commuters…

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 What to watch for in 2019!

  • Rising interest rates will be a key factor affecting housing affordability in 2019
  • Thirty-six per cent of Canadians are considering a home purchase in the next five years, down from 48 per cent at the same time last year
  • Sixty-five per cent of Canadians said they do not want to live near a retail cannabis store

Modest price increases are expected in 2019, as the RE/MAX 2019 Housing Market Outlook estimates the average sales price to increase by 1.7 per cent. Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017. It is anticipated that the market will continue to stabilize, as Canadians will start to feel…

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