Central Hamilton has become one of Ontario’s most intense hotspots for housing demand, if recent numbers are anything to go buy.   In its year-end sales update released Monday (February 6), the Realtors Association of Hamilton-Burlington revealed that home prices in the area have posted spectacular growth from 2006 to 2016, increasing by 129.5 per cent.   This represented a staggering upsurge from a median cost of $120,529 (across all housing types) to $276,549 in just a... [read more]

  There’s been a sharp rise in the number of homes sold for more than $1 million in the Greater Toronto Area. In the first two months of 2017 there were 2,876 such sales, up from 1,548 in the same period of 2016, Sotheby’s International Realty Canada reports. The firm’s CEO Brad Henderson says that buyers feel confident in paying high prices due to the stronger economy and low interest rates. But he is yet another cautious voice on the issue of a foreign... [read more]

Ontario Finance Minister Charles Sousa confirmed Monday he plans to include housing affordability measures in his upcoming budget. Premier Kathleen Wynne has said her government is working on a “comprehensive set of plans,” to deal with rising home prices in the Greater Toronto and Hamilton Area (GTHA), as well as rising rental rates. Sousa said he’d like to include those plans in the spring budget. There is a “suite of options” available to Ontario, but... [read more]

The average sale price of detached homes in the Greater Toronto Area continued to soar last month, hitting a new record high as prices climbed in suburban communities surrounding Toronto. The Toronto Real Estate Board (TREB) reported Wednesday that the average detached house in the GTA sold for $1,214,422 last month, up 33.4 per cent from $910,375 in March last year. Coming weeks before Ontario is expected to unveil its spring budget, the March sales numbers will almost certainly add fuel... [read more]

In its first release since Ontario’s new housing plan, TREB releases Toronto market stats and provides update on influence of foreign buyers and short-term speculators. A total of 11,630 homes were sold in the GTA in April, down 3.2% year-over-year. New listings, meanwhile, were up 33.6%, according to the Toronto Real Estate Board. "The fact that we experienced extremely strong growth in new listings in April means that buyers benefitted from considerably more choice in... [read more]