Photo Credit: Jamie Sarner
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Home prices surge as activity heats up, why we're missing out on laneway housing and detached housing prices soar.
Elsewhere: Warning signs for Vancouver's housing market, why raising mortgage rates could be good for the U.S. and downtown Athens isn't dead.
Toronto home prices surge 10% as sales activity heats up (The Globe and Mail)
The price of a detached home in the city jumped nearly 16 per cent to $1,042,405 as the market shifted toward sales of higher-end homes, Jason Mercer, the board’s director of market analysis, said in a statement. In the suburbs, the average price of detached home rose 10 per cent to $709,116.
Nearly 1400 km of laneways stretch through Toronto. Perhaps it's time we find a smart way to use all of that space
The Greater Toronto Area had 8,940 sales in March, an 11% increase from a year ago. The average sale price of all housing types across the GTA reached $613,933 while the average price of detached homes in the city of Toronto rose 15.9% from a year ago to $1,042,405.
Shower of bricks reveals TCHC's ruined façade: Keenan (Toronto Star)
Four storeys’ worth of those bricks fell to the ground on Holy Saturday at the Toronto Community Housing building at 3171 Eglinton Ave. E., and by Monday there were crews there bulldozing the rubble and peeling off the remaining bricks, which had been teetering off the tower’s concrete structure.
A new survey by luxury realtor Sotheby’s International Realty Canada has opened a window on the 1 per cent and at the same time raised questions about the future of exclusive enclaves like Forest Hill and Rosedale that have been the proud nesting grounds of rich baby boomers for decades.
Hammers go silent at Viceroy Homes (The Star)
But for weeks now, Viceroy’s two plants — one in Port Hope, the other in Richmond, B.C. — have been effectively shut down and more than 130 employees have been trying to figure out if they will ever build the makings of another Viceroy home.
The peeved neighbour left a note registering his or her discontent with the state of a nearby home in the historic downtown district. “It would be appreciated if your home could look a little more like it did in the 1800s,” the neighbour wrote.