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Market Watch

How Would Higher Interest Rates Affect Canada?

Canada is currently experiencing the lowest interest rate environment since July of 1958 when the Bank of Canada’s policy rate was lowered to 1.22%. The catalyst for the current unprecedented loose monetary policy is the great recession of 2008. Fast forward four years later and what are the consequences to the Canadian economy? This sustained and significantly low interest rate ... Read More »

Toronto Office Space Prices Heat Up

Although signs of a cooling Canadian real estate market have come to fruition, the demand and prices for Toronto office space is taking off. A new report from real estate firm, Colliers International, finds that vacancy rates for office space across the GTA have declined from 7.2% in the third quarter of last year to 6.3% in the same quarter ... Read More »

Greater Toronto Area REALTORS’ Latest Report on Toronto Condominiums

On October 16th, 2012 Greater Toronto Area REALTORS released its report on Toronto Condominiums. The report mentions that in the third quarter of 2012 there were 4,541 condominium apartment sales through the TorontoMLS system which represents a 20.5% decline in sales relative to the comparable quarter in 2011; however, new listings during the same time period increased by 6.5% to ... Read More »

The market is slipping… Now what?

Toronto real estate board posted it’s monthly statistics (attached) for real estate transactions for the month of September on October 3, 2012 and it’s in line with what we saw in August 2012 with number of transactions lower and prices keep climbing. We also saw the same stats repeated in new construction for August 2012 where the number of transactions ... Read More »

Home Prices To Slip 10-15%

Economists are beginning to arrive at a consensus in regards to the current real estate market status in Canada, particularly where Toronto and Vancouver are concerned. A price drop of 10 to 15 per cent over the next two to three years will be felt, according to ScotiaBank. Although we won’t be experiencing a U.S. style crisis, economists are additionally ... Read More »

TREB’s Economic Commentary for Summer 2012

“TREB produces regular economic commentaries based on recurring data releases from organizations including Statistics Canada, the Bank of Canada, CMHC and various US agencies. These commentaries are written by Jason Mercer, TREB’s Senior Manager of Market Analysis, and include a summary of the release and an analysis related to the real estate sector in the GTA. Members can use these ... Read More »

Q2 Commercial Division Report 2012

Summary of TREB’s Second Quarter Commercial Division Report: – 3.5 million square feet of total leased space in Q2 2012 – a decline of 22% compared to 4.4 million leased square feet in Q2 2011 – Spaces leased were down, but average lease rates were up for industrial, commercial/retail and office – Industrial properties accounted for almost 80% of total ... Read More »

Second Quarter Results for Toronto Condominium Market

Summary of resale condominium market: – 5000 transactions in Q2 – 2.7% increase in prices, now up to $407 per sf New condominium market: – 4769 units sold, down a noted 21% from Q1-2012 and a whopping 50% from Q2-2011 – most Q2 activity took place at end of the quarter; 88% of those units under construction and 79% of ... Read More »

Capital Economics asserts Market Bubble, slams RBC Report

RBC recently came out with a report saying that the condo market in Toronto is not in a bubble, but Capital Economics says otherwise. They just came out with a report of their own asserting that the Canadian housing market, which includes Toronto, is definitely in a bubble. According to economist David Madani of Capital Economics, Canada’s housing market is ... Read More »

Toronto Star parking lot set to become a condo

Vancouver-based Pinnacle International Realty Group, is planning to develop three towers at 1 Yonge St., home of the Toronto Star office building. Although the Toronto Star building will be untouched, the space is expected to be a major Yonge Street address with great views of the water, excellent public transit, and close to major attractions like the ACC. 12 years ... Read More »