It was an unseasonably hot month for real estate across Canada in November, reveals the latest data from the Canadian Real Estate Association – but that robust activity isn’t expected to carry over into the new year as new mortgage rules take hold.
For immediate release — November 29th 2017 –- Leading Canadian real estate search website RentSeeker.ca releases it’s 2017 Rental Market Report INFOGRAPHIC.
RentSeeker.ca’s now socially popular rental market INFOGRAPHIC’s reflect data compiled from Canada Mortgage and Housing Corporation’s (CMHC) Fall 2017 report and includes vacancy rates and the average rent costs for apartments across Canada including;
*for media inquiries or to share our INFOGRAPHIC, please contact us at [email protected]
(Click on the INFOGRAPHIC to enlarge)
After not raising rates for almost seven years, the Bank of Canada surprised many by increasing its benchmark interest rate this month by another +0.25 to 1.0%.
This new interest rate increase is the second 0.25 basis-point increase since July, and it is also now widely expected that another +0.25 is to be expected in October.
The Greater Toronto Area housing market continued its downward spiral in July – for the third consecutive month – as sales dropped a whopping 40.4 per cent, reveals the Toronto Real Estate Board.
Home buyers are often considering a lengthy wishlist of features when seeking the perfect new home for their needs – and for families, schools are a top consideration.
On April 20th 2017, the provincial government of Ontario introduced new legislation known as the Fair Housing Plan. The new housing affordability measures are primarily focused on assisting renters and home-buyers across the province.
With Canada’s real estate market showing signs of stabilization in various cities, possibly and likely due to policy measures on housing by the Canadian government over the last few years, other cities like major cities; Vancouver and Toronto are still showing signs of increasing home prices for houses, condos and apartment rentals.
It’s no secret that home prices are rising across the nation. The latest numbers released by the Canadian Real Estate Association find the MLS Home Price Index rose 16% from this time last year, and the average national home price is now pegged at $519,521 – a 3.5% increase.
Looking to break into the Toronto real estate market, but seek more square footage than the typical condo provides? Given the average house price now tops $1.3 million in the city, according to the Toronto Real Estate Board, you better have a significant nest egg if you dream of detached living.
2016 was an unforgettable year, though some may want to try. Through the loss of several music legends, a rise in world-wide violence and a tumultuous political situation south of the border, it’s easy to dismiss last year as a negative. Yes, there were several monumental events that affected life for Canadians, though as many in the Real Estate industry would agree, one of the biggest news stories of 2016 was the continued highs of the Real Estate market.