Daily Market Update

Micro condos gain ground
With more people wanting to live nearer the city core there is a growing interest in micro-condos. For those who put location above space, they make an ideal choice with prices starting below $200,000. Smart House Ottawa and Reliance Properties are two firms that have seen an uptick in the sector. John Stovell from Reliance told The Huffington Post that people are realising that the lifestyle they want doesn’t have to be within their own four walls and that their social status isn’t about the size of their home. It’s an interesting shift in the mindset of young urbanites. The only hurdle is more limited mortgage options; some lenders will not even consider smaller properties, while others will do so but at less favourable terms than for a regular condo.
Blackberry wants to be an integral part of your home
Blackberry’s return to its former glory could well be driven by homes. The Waterloo, Ont. firm is planning to set out a vision for its future in January 2015, but CEO John Chen has already said that the company plans to be an important player in the ‘internet of things’. Connected homes are the future with everything from washing machines to drapes controlled via smartphone devices. Some tech firms have already begun working with developers to integrate their products into new-builds, but it’s not clear if Blackberry is at that stage yet.
U.S. new home sales decline in November
The U.S. property market continues to show weakness this week. Following Monday’s lower-than-expected existing home sales figures, yesterday’s new home sales report was also disappointing. There was a 1.6 per cent drop in new home sales in November compared to a year earlier. Both the supply of new homes and the median price increased by 1.4 per cent in the month.  


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