The price of detached houses in Toronto surpassed the $1 million mark for the first time in 2015. Since then prices have hovered at a consistent high and according to a new report by RE/MAX, they’re again on the rise. RE/MAX examined the Toronto Real Estate Board‘s 65 districts and found that detached housing values rose in 57 per cent of neighbourhoods in the 416. While this is welcome news for those who already own a piece of this lucrative property pie, those trying to buy houses in Toronto find themselves wondering if and when affordability will return to this hot market. Despite the affordability woes, detached home sales in the GTA were way up in the first half of the year. Year-to-date transactions are up 17 per cent over 2018 figures – 20,067 versus 17,202 – and double-digit sales increases happened in over 70 per cent of TREB districts, which includes areas in the 416 and 905.
The tiny home trend comes with many benefits, such as a lower price and less “stuff” to clutter your life. But living in a bachelor apartment, loft or bona fide “tiny home” can be tricky when it comes to planning where to put your furniture and belongings. You may have to get creative in terms of storage, beds, coffee tables and just about everything in between. Thankfully, it’s easy to make the most out of a small space by strategizing your interior design. Here are four ways to live large in your tiny home.
Vancouver is located in the balmy Lower Mainland of British Columbia. It has the highest population for the province, but even at 600,000 people, that is still far less than most major urban centres. As a coastal seaport city, it has warmer year-round temperatures than the rest of Canada as well as stunning land, sea, and mountain views that are hard to find anywhere else.
We reached out to our RE/MAX Influencers – a panel consisting of RE/MAX Sales Associates throughout Canada – to find out some tips and best practices that will help you get your home ready for sale.
As was widely expected, the Bank of Canada has announced that it will maintain its overnight interest rate target at 1.75 per cent, marking its seventh straight decision to hold steady since raising its interest rate almost a year ago. The Bank justified its decision citing the escalating trade war between the US and China, which has negatively impacted world trade and the global economy. Meanwhile in Canada, things are looking more rosy with economic performance exceeding the Bank’s July projection, wages up and housing activity bouncing back supported by lower mortgage rates. The next interest rate announcement is scheduled on October 30, 2019. Read the full release below:
While Canada has a lot to offer, we’re especially lucky to have an incredibly diverse food scene. As a country that takes pride in its multiculturalism, there is no shortage of options when it comes to what’s on your dinner plate. It’s truly an exciting time, with chefs from across the nation creating new flavour profiles by using Canadian ingredients intermingled with ethnic flavours and infusions. Here are some of the most diverse food scenes that the country has to offer.
Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB’s MLS® System in August 2019. This result represented a 13.4 percent increase compared to 6,797 sales reported in August 2018. On a monthover- month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent.
As first-time homeowners, you might get to a point where it’s time to sell your house and move on to your next home. However, you don’t want to sell your home at the wrong time—you might have trouble finding buyers or you might miss out on making the most money back.
The mortgage rules aren’t as tough today as they were one week ago, thanks to the Bank of Canada’s decision to lower its five-year benchmark qualifying rate to 5.19 per cent. This marks the first downward move since September 2016, when the Bank’s qualifying rate fell from 4.74 to 4.64 per cent. Since that time, it’s been on the rise – until now.