In the City: The Toronto Real Estate Board tries to 'protect data' after losing anti-competition case and younger residents think about leaving Toronto due to high housing costs.
Elsewhere: Canada's economy grows at fastest pace in year, the politics of home ownership in the United States and a record proportion of London homeowners are selling and moving north.
The board “will be studying the required next steps to ensure such information will be protected in compliance with the tribunal order once that comes into effect,” board chief executive John DiMichele said in a statement. The board declined requests for interviews and follow-up comments.
“The home buyers would see a $799,000 asking price but they didn’t realize it will eventually sell for over $1,000,000,” says Pasalis. And more recently, with the market not as red hot as previous summers, buyers are seeing the trend of sellers overpricing their homes—and eventually selling for slightly less than the listing price.
Renters, especially, are feeling shut out of the real estate market, and more than half (59%) say they are “seriously considering” leaving Greater Toronto because of the high cost of housing in the region.
When’s the worst time to find a rental in Toronto? Right now (The Globe and Mail)
The key driver, according to agents who work with renters, is university students who are often novice renters – and whose first experience with the rental market can be a wrenching one.
Consumer spending rebounded from a tough start to the year, accelerating at a 2.6 per cent pace in the second quarter, slightly faster than economists predicted. This suggests households are overcoming concerns that had been weighing on spending — in particular whether the country was in store for a sharp housing slowdown.
Malec said the interest in listings like this one show that Hamilton's housing market is quite hot. The average sale price of a home in central Hamilton has risen 19.3 per cent since July of last year, he said.
Canmore deemed least affordable housing market in Alberta, Fort McMurray the most (CBC)
Canmore is the least affordable place to buy a home in Alberta while Fort McMurray is the most affordable, according to a recent analysis of housing prices and incomes in two dozen cities and towns across the province.
August 31, 2018This Week In Real Estate |