Photo Credit: Doctors Review
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: The condo market is getting better for renters, a cyclical cooling for condo market may be on its way and high-end real estate goes the auction route.
Elsewhere: Canadian real estate market softens except for hot Toronto and Vancouver, the Bank of Canada issues yet another warning and a look at what unchecked global development would look like.
"It's starting to make more sense to build rental," Hildebrand said. "The financials work a bit better and also with the reported vacancy rates being low it gives builders a lot of encouragement that their units are going to be absorbed quite easily when they come to completion."
Is the condo market finally softening? (Canadian Real Estate Wealth)
Toronto’s condo market will experience a “cyclical cooling off,” according to a new report, but experts say condo prices and sales will continue to rise, and there is still plenty of rental demand.
More high-end Toronto real estate going the auction route (Toronto Star)
“The majority of our properties are not in a distressed situation but owners are choosing to sell through us because they have a unique, difficult-to-value asset and they’d like to close it on their (usually short) time frame,” says Laura Brady, president of Concierge.
Mapping Toronto’s Rental Complaints (Torontist)
If you’re wondering which Toronto rental properties are most likely to receive licensing and standards complaints, there’s a clear trend. High-rise rental properties built between the 1950s and 1970s, in or adjacent to Neighbourhood Improvement Areas (previously known as priority neighbourhoods), are most likely to be in need of repairs, and some severely so.