All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: The east end is where it is at when it comes to real estate, the suburbs aren't far behind and John Tory makes his pitch.
Elsewhere: Canada's real estate problem, the best value in the United States can be found in Grand Rapids and a tale of two homes in the UK.
Toronto’s east end has the hottest real estate in the city (Toronto Star)
Homes north of Danforth Ave. and east of the Don River are selling fast, according to data provided by the Toronto Real Estate Board. The area, which encompasses posh Playter Estates to the west and rough-around-the edges Woodbine-Lumsden further east, boasts the shortest sale times in the city, with homes averaging a mere 12 days on the market compared to a city-wide average of 21 days.
Toronto home prices surge, but the suburbs are eye-popping (The Globe and Mail)
“The difference in the annual growth rates for the MLS [home price index] and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the city of Toronto this year compared to last,” the group said.
Vancouver is offering up $250-million of city-owned property as part of a pitch to Ottawa for new affordable-housing funds. The Liberals have identified affordable housing as a key component of their promised “social infrastructure” spending. Toronto Mayor John Tory says he will be making a similar pitch when big-city mayors gather in Ottawa on Thursday and Friday.
Families might miss an appointment for a health card while out looking for a home, she said. Housing is by far the biggest hurdle, she said, since many landlords require refugees to have someone co-sign their lease. And without an address, parents can’t get their children in school.