Builders are always looking for bargains, so it caused quite a stir when a pleasant backsplit went on the market in North York’s Willowdale area earlier this month for what may have seemed like a crazy amount to anyone else — $1.1 million. All that counted to the dozens of interested builders who filed […]
home selling in toronto
Rise of Willowdale, Toronto’s Hottest New Neighborhood – Part 2
“It’s pretty easy to understand why people are doing this — the economics are completely in line with the market when you consider that a detached house in the City of Toronto is worth over $1 million now. “It’s definitely changing the character of neighbourhoods and it’s certainly not good for affordability. But it’s […]
Toronto-area Home Sales On Track To Break Record In 2015
A record number of homes are expected to be sold in the Toronto area this year in 2015, with the average selling price reaching $627,395. As of last week, 80,331 homes had been sold in the Greater Toronto Area (GTA), a 9.5 per cent increase from the number of homes sold by this time […]
Toronto Homeowners Expecting May Prices In An October Market
The city’s fall real estate market is off to a brisk start, with September numbers showing that buyers are still making lots of purchases in the suburbs and bidding up prices across the Greater Toronto Area when they finally snag a house that suits them. Still, agents are reporting erratic action when it comes […]
OSFI’s new mortgage rules will decrease home affordability
OSFI’s new mortgage rules will decrease home affordability. OFSI’s (Canada’s banking regulator) has published final guidelines for its mortgage qualification rule. It will impose tighter standards on the uninsured market. Lenders will be required to “stress test” all uninsured mortgage loans at the greater of the Bank of Canada’s five-year (5) posted rate or […]