Monthly Archives: April 2016

Month: April 2016 Why Canadians Don’t Want To Sell Their Homes – Real Estate Report Reveals

  TORONTO — A new report suggests the red hot real estate markets in Vancouver and Toronto are discouraging some potential sellers from listing their homes because they’re afraid of becoming buyers themselves. The spring market trends report by real estate firm Re/Max on Thursday says while homeowners in those cities know their homes will sell quickly, many are reluctant to become buyers in the highly competitive market.   Read more: Homes Available For Sale In Toronto, Vancouver Reach Record Low Re/Max says some are also reluctant to list their homes because they believe that prices could move even higher.

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Month: April 2016 Toronto, Vancouver Face Housing Shortage Amid Warning Price Boom May ‘End Badly’

  This is pretty much the last thing new home buyers in Toronto and Vancouver needed to hear. Toronto and Vancouver, Canada’s two hottest housing markets, are experiencing a shortage of homes coming onto the market, National Bank Financial notes in a new report. The supply of homes listed for sale in those two cities has dropped to the lowest levels seen in 12 years. Listings in Vancouver’s market have dropped more than 40 per cent in the past year. In Toronto, listings have slipped 3.7 per cent in the same period, and down some 50 per cent from the

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Month: April 2016 Poor people more likely to have shorter lifespans – Health Quality Ontario warns

  TORONTO — Health Quality Ontario issued a report Wednesday showing that the poorer people are, the more likely they are to have shorter lifespans and to suffer from multiple chronic conditions. The report found men living in the poorest neighbourhoods die, on average, more than four years earlier than the men in rich areas, while women in poorer areas die an average of two years earlier than wealthier women. The government advisory agency said the poorest 20 per cent of people are nearly twice as likely as the richest 20 per cent to have two or more chronic conditions,

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Month: April 2016 New Detached Toronto Home Is Over $1 Million In Average Price

  The average price of new detached homes in the Greater Toronto Area (GTA) has surpassed $1 million for the first time, says a Building Industry and Land Development Association (BILD) report. According to Altus Group data, as of March 31 the average price of new detached homes available for sale in the GTA was $1,045,659. Read: House hunters fear being priced out of market: survey The new detached home average price has grown by 21% in 12 months and in the last decade it has more than doubled. In March 2015 the average was $861,848 and in March 2006 it

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Month: April 2016 Toronto House Hunters Fear Being Priced Out Of Market – Survey

  Toronto real estate market is more competitive than ever, with home prices continuing to rise in major cities. In fact, a recent TD survey found 19% of new homeowners in cities such as Vancouver and Toronto listed their fear of being priced out of the market as a top consideration before making buying their homes.   Further, prospective first-time buyers are concerned they’re rushing the process of buying to avoid missing an opportunity (20%) and being pushed out of the market (13%), as well as buying too fast in order to win a bidding war (18%). “There’s more to

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Month: April 2016 Housing Too Hot In Toronto, Vancouver In April, 2016

  In Toronto and Vancouver, home prices are soaring and continuing to raise the bar on home ownership, says the latest Housing Trends and Affordability Report issued by RBC Economics Research. “There are few signs that housing affordability is problematic elsewhere in Canada,” says Craig Wright, RBC chief economist. “Homes in other markets remain affordable, with the situation either improving or remaining fairly stable, while prices continue to escalate in Vancouver and Toronto markets.”   Within Toronto and Vancouver markets, one of the main problems is there’s a clear divergence in affordability conditions between single-detached homes and condo apartments, with most of the affordability-related stress concentrated in

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Month: April 2016 166 Cottingham Street, Toronto – $1.9-million Summerhill home that sparked a bidding war

  LISTED AT  $1,699,000   SOLD FOR   $1,895,000   Address: 166 Cottingham Street   Neighbourhood: Summerhill The property: A newly renovated Summerhill semi on a quiet cul de sac.   The history: The sellers bought the property in 2012, then completely rebuilt the upper two storeys and revamped the kitchen with new marble surfaces and cabinets. Now they’re looking for a larger property in the same neighbourhood.   The fate: The buyer, a corporation looking to rent out the home, was attracted to the property’s location, its open interior, and the swanky backyard, which has new fencing and a built-in

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Month: April 2016 71 Hazelton Avenue, Toronto – $2.8-million Yorkville home where staging made a difference

  LISTED AT  $2,790,000   SOLD FOR  $2,800,000   Address: 71 Hazelton Avenue   Neighbourhood: Yorkville   The property:  A renovated Yorkville Victorian with high ceilings, original fireplaces and marble accents.   The history:  The property, built in 1895, was gutted by a previous owner in 2006. The owners had been renting out the house while they travelled abroad. They decided to sell so they could keep travelling without worry. The fate:  The buyers are a family from Kleinburg looking to move out of the suburbs and into the city. They loved the property’s proximity to Yorkville. Whole Foods is

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Month: April 2016 96 Castlewood Road, Toronto – $2-million Lytton Park home that proves the teardown business is alive and well

  LISTED AT  $2,049,000   SOLD FOR  $2,025,000   Address: 96 Castlewood Road Neighbourhood: Lytton Park   The property: This home, built from the ground up just over a year ago, has a custom-built kitchen, oak finishes and a basement with a walk-out to the backyard.   The history: After buying the property for $1,085,000 in 2014, the seller tore down the existing bungalow and built this place in its stead. His original intended buyer, a colleague’s brother, had a change of heart—so the house went on the open market. The fate: The buyers are a family who were drawn

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Month: April 2016 Toronto, Vancouver slow down in March, 2016 but Canadian home sales hit record – CREA

  TORONTO — A record number of homes were sold across the country in March, although the Vancouver and Toronto markets saw sales declines from the previous month, the Canadian Real Estate Association said Friday. March was the first full month for new federal mortgage rules primarily aimed at reducing buyers’ appetite for expensive properties in Vancouver and Toronto without dampening interest in other cities, where average prices are lower. But analysts attributed a 1.8 per cent drop in CREA transactions in Toronto, and 0.3 per cent in Vancouver, to other factors — particularly a short supply of properties for

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