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Housing is Driving The Canadian Economy

Q4 economic growth was much stronger than expected. This could help explain why interest rates have risen so fast recently and could portend a more optimistic statement from the Bank of Canada next week.

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Home sales fell again in May, but don’t get used to this

Despite buying activity decelerating in May, the average selling price still crept up by 1.1% month-over-month to reach a record $1,108,453 thanks to new listings decreasing in April.

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Hamilton’s ‘hidden gem’ properties

"There’s a hidden gem: mixed-use commercial properties in downtown Hamilton that might be able to be converted into residential properties."

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News

Benchmark price of Canadian home up $120,000 in March

In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.

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Here’s how much monthly rental profit the average GTA condo earns

Sixty-three percent of investors in the GTA were cash flow neutral or positive last year, up from 56% in 2017. Investors who purchased presale condo units saw better cash flow than landlords who bought resale units.

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Toronto suburb sets sales record

The total value of home sales nearly hit $1.5 billion last month - a 130.4% increase over March 2020, and the largest amount ever recorded for any month.

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‘Boxy’ condos optimize space for end users, investors

Condo layout design is one of Condoville Realty Inc.'s specialties. A functional design is always better than a bigger design, especially when it comes to millennials looking for efficiency.

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Here’s when GTA condo rents will increase

There were 13,168 condo apartments rented last quarter, according to the Toronto Regional Real Estate Board (TRREB), compared to 7,251 during the first quarter of last year.

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BMO reveals where first-time purchasers plan to buy

A survey by Pollara Strategic Insights revealed that first-time homebuyers preferred living in major city centres. 27% chose Toronto, 15% Vancouver, and 11% apiece for Montreal and Calgary.

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Don’t worry if interest rates rise sooner than expected

The Bank of Canada predicts GDP growth of 6.5% this year, up from its initial forecast of 4%, and while it will hold rates until the economy has recovered, that could happen a year ahead of schedule.

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GTA exodus makes its way to Barrie

65% of buying activity in the city is coming from people leaving the GTA says Barrie-based Jeremy Brooks of Engels & Völkers. That’s also had a profound effect on the price of single-family detached houses.

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Toronto needs more family-focused condos

Multigenerational living may become more common in Toronto in the coming years. Unlike typical condominium developments in the city, this condo development is emphasizing the need for family-sized units.

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Low transit use imperilling critical infrastructure projects

The pandemic has drastically changed the way transit is used in the GTA. Many who would usually commute to work are at home as their companies shifted to work-from-home models.

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