TORONTO – Royal Bank of Canada (RBC) says that if current trends continue, single detached homes in Toronto and Vancouver will soon be firmly in the luxury housing segment, available only to wealthy households. In its latest housing affordability report, RBC says trends continued to vary widely between the country’s various real estate markets […]
Toronto Buyer Posts
House-hunting millennials want ‘move-in ready’ homes: survey
Millennials are entering the housing market in huge numbers. And a recent survey shows that, unlike previous generations, their main priority is finding a home that will need little or no work before they can move in. “Millennials want move-in ready,” said Consumer Reports expert Dan DiClerico. “They want to cook in that kitchen […]
Toronto developer defends move to not use designer named in promo materials
A Toronto developer facing a $6.5 million lawsuit is defending its decision not to use a prominent interior designer, even though brochures about the property used the designer’s name. Freed Developments Ltd., a well-known developer in the city, said in a marketing brochure and on its website that the Six50King building, at King and Bathurst, […]
Price gap between Toronto houses and condos expected to shrink
The price gap between condos and houses soared 50 per cent last year in the Greater Toronto Area as values of single-family homes skyrocketed, while the condo market flatlined. But industry analysts expect that divide to start shrinking over the next several years as local municipalities green-light several long-awaited low-rise housing projects and the […]
Canadian Government increases minimum down payment for homes over $500K
Finance Minister Bill Morneau is increasing the amount homebuyers must put forward as a down payment on houses over $500,000. It’s a move designed to cool off the booming real estate market in some of Canada’s biggest cities. Homebuyers will have to put 10 per cent down on the portion of the price over […]