Category: Uncategorized
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Toronto’s Fall Housing Market Remains Cool As Rate Cuts Not As Certain
The Toronto housing market remains cool despite a warm September, with modest sales increases but fewer buyer showings. Inventory levels are rising, with condos at 6.6 months of inventory and houses at 4.4 months. The average house price is $1,332,940, down 2% from last year, while condos average $706,625, down 4%. Economic uncertainty and geopolitical…
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Home Inspection Checklist Every Buyer Needs!
Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early
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GTA Housing Market: Growing Demand-Supply Gap
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability.
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Why Won’t Lower Rates Fix GTA’s Housing Crisis?
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.
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Why You Need a Real Estate Lawyer in Toronto for Your Next Property Purchase
Buying property in Toronto involves excitement but also significant paperwork and potential hurdles. A real estate lawyer is essential for navigating complex contracts, protecting against hidden liabilities, and ensuring smooth negotiations and closing processes. They are familiar with Toronto's unique regulations, helping buyers avoid costly mistakes and providing peace of mind. Ultimately, hiring a lawyer…
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Fewer Applications: GTA Housing Supply at Risk
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
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GTA Housing Stock Gap Hits 50-Year High
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.
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GTA New Home Sales Hit Historical Low in Mid-Q3
New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.
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GTA Mortgage Woes: Delinquency Rates Surge 42%!
Canada’s largest mortgage lender faces rising delinquencies in the Greater Toronto Area mortgage portfolio. Serious delinquency rates surged to 0.27% in Q3 2024, a 42% increase from the previous quarter.
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Toronto is fast becoming Canada’s Manhattan
Toronto has emerged as a vibrant city comparable to Manhattan, especially in the last decade. Unlike many U.S. cities that become deserted after office hours, Toronto's streets remain lively at night. Its population rivals that of Montreal and Vancouver combined, with a significant number of construction cranes indicating rapid growth. The city has expanded into…