All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Move up or move out, the market shows signs of cooling and the province makes a major ruling on affordable housing.
Elsewhere: Is Canada terrified of popping the foreign-buyer housing bubble, U.S. housing starts go up and where is the most diverse city in the world?
The real-estate affordability dilemma: move up or move out (Toronto Star)
The most common type of new home currently being developed in the GTA is the one-bedroom highrise condo unit. Before the introduction of intensification policies in Ontario just over a decade ago, detached houses on 40-foot lots were the dominant form of residence.
The number of homes sold in Canada last month hit a record as supply tightened, particularly in the Toronto area, where a fiercely competitive market is dissuading some homeowners from putting their properties up for sale, the Canadian Real Estate Association said Monday.
Municipalities will have the power to force developers to build affordable housing under new legislation introduced at Queen’s Park Wednesday, May 18.
The strongest real estate market in Ontario just might be the Niagara Region, where the dollar value of sales in April soared 36.2 per cent from a year ago, a combination of frothy prices and a major uptick in sales activity.
Wallace will soon release a report on possible “revenue tools” — new taxes or levies on parking spaces, alcohol, gasoline, road tolls or more — to help Toronto pay for transit expansion and Toronto Community Housing repairs.
Is London the most diverse city in the world? The new London mayor Sadiq Khan has claimed that it is, but is he right? (No, it's Toronto.)