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Market Insight for October 28th
Ontario Hikes Foreign Buyer Tax to 25%, Highest in Canada effective immediately The government of Ontario announced that effective immediately its foreign buyer tax would be hiked to 25% — the highest such tax in Canada. The Non-Resident Speculation Tax, which aims to...
Market Update for October 21
Despite rising interest rates leading to a decline in new condo sales, Toronto has the highest number of operating tower cranes in North America, a new report by property and consultancy firm Rider Levett Bucknall shows. Toronto had 230 active cranes in the sky in the...
September Market Snapshot
Bosley Real Estate has released the quick market snapshots for the month of September, covering both the City of Toronto and the Greater Toronto Area. The September market snapshot for the Greater Toronto Area: Download the PDF here. The September market snapshot for...
Market Update for October 7
A 20-year low in new home listings last month is buying Toronto area home prices, which in September, rose slightly month-over-month to $1.09 million. It was the second consecutive monthly price increase, but on a year-over-year basis, the average house and condo...
Market Update for September 30
Developers are waiting longer for approvals and consumers are paying more. Toronto area municipalities are taking 40 percent longer on average to approve housing development applications than they did two years ago, and the cost of processing those permits has soared...
Market Update for September 23
There’s a significant shift happening in Canada — and it’s between the renter population and the homeowner population. While the number of homeowners in Canada is growing at 8.4%, the renter population is growing at 21.5%, more than double the rate, according to...
Market Update for September 16
Most people have probably come away from COVID-19 with a few purchases they now question, but for Canadian homebuyers who purchased a home during the pandemic, that home wasn’t one of them, at least that’s according to a new survey that found 63% of home buyers have...
Market Update for September 9
Housing markets are unique for their location, type, quality and size, so a decline in the average housing price is not the same as a decline in the price of an average house, which sometimes makes it difficult to decide whether it’s the right time to buy or sell....
Market Update for August 26
Housing market crash unlikely … Immigration and smaller household sizes are expected to help drive prices upward. New data released Monday by Statistics Canada found home prices increased by a mere 0.1 per in July compared with June — the smallest increase in more...
Market Update for August 19th
Toronto new condo sales decline 19%, but prices rise, according to Urbanation. Sales of new condominiums in the greater Toronto area have declined by 19 percent in the second quarter of this year, while the average price per square foot reached a record high of...