Apartment rents increased for the first time in a year and a half in Toronto during the second quarter and also rose in Calgary as the impact of the pandemic receded, new studies show.
Spencer Group Inc., Realty Brokerage's blog
In the real estate industry, relationships between buyers and their real estate agent are often governed by a written Buyers Representation Agreement (BRA). A BRA usually contains a series of standard form terms, including a term that the buyers will not use the services of any other real estate agent during the time period that the BRA is in effect. The specific time period that a BRA is in effect can be negotiated by the parties.
A very interesting case:
A multimillion-dollar home in Aylmer must be demolished because it was built too close to the street, a Quebec judge has ruled.
The decision by Quebec Superior Court Judge Michel Déziel comes after an eight-year saga that began when the city of Gatineau granted the homeowner permission to build the house even though it ran afoul of zoning bylaws.
Have a look at the following stats:
The price of the average Canadian home that sold in June was $679,000, an increase of 25 percent in the past year. While sales have risen sharply, too, both figures were lower last month than in the month before.
The Canadian Real Estate Association said in a release Thursday that home sales have now fallen for three months in a row after setting an all-time high in March 2021.
Things have changed in the hot Toronto pandemic market.
They’re fun in the sun but swimming pools haven’t always been a top-selling feature when it comes to real estate. They don’t appeal to every homebuyer, who doesn’t necessarily want the cost, maintenance, and safety concerns of a seasonal amenity.
But demand for swimming pools is just one more way the real estate market has changed during the pandemic.
Vacation and entertainment venues have been curtailed at the same time demand for bigger homes with more outdoor space has skyrocketed.
Thank goodness for the private sector!
CMHC, which for decades has been the dominant actor in the mortgage insurance industry, lost roughly half its market share while private insurers gobbled up business. According to an RBC research note, CMHC has slipped from 50 percent of the market before the pandemic to 23 percent earlier this year. Sagen, meanwhile, has grown its market share to 44 percent, while Canada Guaranty rose to 33 percent.
CMHC's decision to reverse its policy won't have much impact on consumers because the change is focused on the insurance that lenders obtain, said James Laird, the co-founder of Ratehub.ca and president of the CanWise Financial mortgage brokerage.
When CMHC made their standards more difficult, he said other options were available from rivals Sagen and Canada Guaranty.
"When one company has tougher underwriting criteria than their two competitors, then naturally the market starts to use the two competitors, much more," said Laird.
And this is the generational perpetual "thing":
An interesting occurrence, but I don't agree with the explanation below, in the article:
Sales began to slow down in April and May across Canada, and the trend appears to be continuing into the summer.
Many of Toronto’s young urban dwellers are reveling in the city’s reawakening and putting weighty real estate decisions on hold for now.
Queen Street, King Street West, and other hotspots are buzzing with people dining al fresco and socializing with friends after strict lockdowns during the third wave of the COVID-19 pandemic.
Politics - politicians ...
Two years ago, the federal and British Columbia governments struck an expert panel to examine B.C.’s overheated housing market. The goal was to drum up ideas to improve housing supply and affordability.