Stop blaming the Greenbelt for Toronto’s housing prices

Stop blaming the Greenbelt for Toronto’s housing prices

A number of critics would have us believe that Ontario’s land-use legislation is the top culprit for rising house prices in the Greater Toronto Area – namely the Greenbelt, which protects farmland, and its sister Growth Plan policy, which directs growth outside the Greenbelt. Proponents of this argument claim that these policies driving up prices.

Globe and Mail

Canadian real estate in 2017: The experts weigh in

Economists and analysts expect Canada’s housing market to slow after a dramatic 2016. But several say it’s time to stop calling for a soft landing.

Globe and Mail

Canada’s housing market expected to cool further in 2017

As they have for nearly every year since the global financial crisis, economic analysts are calling once again for Canada’s housing market to cool in 2017. But this year, forecasters are predicting a slowdown triggered not by deteriorating economic conditions or rising interest rates, but by the heavy hand of government policy.

Globe and Mail

What $1,800 per month can rent across Canada

Recently released data from rental listings site PadMapper found that Vancouver renters are shelling out about $1,800 per month for a one-bedroom apartment. While Vancouver was still the most expensive of the cities PadMapper examined, the data released in mid-December showed rent prices cooled slightly last month.

CTV News

Vancouver home affordability hits record low

Vancouver’s housing market remains the most unaffordable market in Canada by far, and in 2016’s third quarter, affordability eroded further, according to RBC’s Housing Trends and Affordability report. On average, in 2016’s Q3 Vancouverites needed to spend 92% of their median pre-tax household income to service the housing costs – a record high for the city.

Business in Vancouver

Mortgage insiders question B.C. government’s homebuyer loans

Praise and condemnation heaped upon the B.C. government’s homebuyer assistance program this month have been misguided, say some B.C. mortgage industry professionals.  On Dec. 15, the government unveiled the B.C. Home Owner Mortgage and Equity Partnership program, announcing they would invest $703 million over three years to help first time homebuyers.

Calgary Herald

Vancouver homeowners face tax assessment ‘sticker shock’

Sticker shock of a different kind is setting in across Metro Vancouver as many homeowners check their B.C. Assessment property valuations and discover the assessed value of their home has skyrocketed. The assessments comes at a time when a long-predicted housing correction may actually become a reality.

Global News

Fortress gets OMB approval for two GTA housing builds

Fortress Real Developments has announced approvals for two housing developments by the Ontario Municipal Board (OMB). First, Lamb Development Corporation, Hyde Park Homes and Fortress are joining forces on a condominium apartment development to be located at 53, 61 and 65 Ontario St. and 102 Berkley St. in Toronto.

Daily Commercial News

Victoria apartment tenants worry about asbestos exposure

People who live in a Victoria apartment tower that is undergoing renovations are worried about health risks after WorksafeBC stopped work over concerns that asbestos has been disturbed. A notice posted on the front entrance to 415 Michigan Street says work inside the 14-storey building has been halted.

CBC

Drywall tariffs linked to higher home costs and new jobs

Anti-dumping duties on U.S. drywall imports into Western Canada have hiked prices for the building product but have also resulted in new manufacturing jobs. Gypsum Canada has added about 30 employees since duties began in September at its drywall plants in Vancouver, Calgary and Winnipeg to boost production.

Vancouver Sun

One billion litres of water spews from Vancouver aquifer

More than one billion litres of water have spurted from a $3 million residential lot on the west side of Vancouver since inexperienced drillers breached an aquifer under the site then fled the country 15 months ago.  Qualified crews took over the site a few days after the breach and are now just a few steps away from sealing the hole.

Vancouver Sun

Making your home energy efficient without breaking the bank

Making your home more energy efficient doesn’t have to be expensive — there are small things everyone can do, and a number of incentives to take advantage of, all while keeping your home warm and cozy during the winter months. That’s according to Glenys Verhulst, communications coordinator with City Green Solutions.

CBC

B.C. home prices predicted to fall in 2017

Home sales and prices in British Columbia can be expected to retreat in 2017, the Canadian Real Estate Association said in late December. Annual sales in the province are seen dropping by 12.2 per cent, with average sale price expected to fall by 7.8 per cent

CBC News

Vancouver’s relocation guide 2017

A stunning backdrop sets the stage for a city of livable communities Vancouver regularly ranks among the most livable cities in the world. Residents revel in its gleaming downtown towers and vibrant cultural mix, but it’s the backdrop of mountains and water that stands out for the thousands of people who choose to live and play here every year.

Business in Vancouver

Point Grey mansion tops B.C. Assessment valuations at $75.8m

B.C. Assessment property valuations for 2017 are now available online. And while the red-hot Metro Vancouver real estate market has cooled in recent months, a random survey of homes currently for sale in the region suggests the assessment valuations are generally close to the mark or below today’s asking prices.

Vancouver Sun

Market Conditions

Modest increase in home sales for 2017

Home sales will see a modest uptick in 2017 but prices will stay flat, according to the Canadian Real Estate Association. The national group’s updated resale housing forecast predicts sales in Alberta to rise by 3.5 per cent next year while average prices drop by just point-eight of a percentage point.

CBC News

Home prices heading higher in the new year

High demand and low supply continued to characterize Vancouver’s and Toronto’s housing markets throughout 2016 as competition from buyers for limited inventory of single-family homes pushed prices higher. In 2017, RE/MAX estimates average residential sale price will increase by two and eight per cent in Greater Vancouver and the GTA respectively.

Re/Max

Consumers bullish on Ontario real estate market

Perceptions of real estate markets in Ontario remain strong heading into the winter season as the Ontario Home Ownership Index edges to an all-time high of 131 points, according to new research from the Ontario Real Estate Association (OREA). Driving the positive shift in sentiment are perceived improvements in current real estate markets and within the last year. 

Marketwired

Edmonton faces sluggish housing market

Demand for new homes in Edmonton has “tempered” in light of a weaker market and and reduced consumer confidence, according to new reports from the Canada Mortgage and Housing Corporation (CMHC). These factors, analysts say, will continue to cut demand and keep sales sluggish throughout 2017 and 2018.

CBC News

Ottawa home prices set to rise slightly

It will cost you an average of about $378,000 to buy a home in Ottawa in 2017, according to a projection from the real estate company Re/Max. That’s up about two per cent from the $371,000 Ottawa home price estimate for 2016.

CBC News

	RENX top story picks for 2016
	The past year generated more real estate news than any year since RENX started publishing in 2001.  Instead of 5 top stories we selected ten and while we have confined our entire list to 100 stories in the past we let it run on this year. RENX top story picks for 2016

 

Taxes and Utilities

Edmonton property owners see dip in value

Edmonton property assessment notices show a small drop in the value of most properties, says the city, noting the province’s slowing economy. Most property types in Edmonton experienced a decrease in assessed values, recorded as of July 1, 2016:

Edmonton Journal

Affordable Housing

Downtown Eastside tenants rally against rent hikes

In 2006, after the overdose death of his teenage son Ross, West Vancouver businessman Charles Haynes bought a 24-room boarding house at 313 Alexander St. in Vancouver’s Downtown Eastside to help provide a safe place for area residents who face challenges. He called it Ross House to honour his son who died from drugs at age 19.

Vancouver Sun

Other

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