Real estate organizations from across Canada are urging federal election parties to cut barriers to homeownership. Several bodies representing real estate agents have united in their message to politicians to reduce the challenges facing homebuyers including the mortgage stress test and zoning restrictions. They are also keen for the next government to allow 30-year amortizations […]

The Liberals have promised to increase limits and make some other changes to the First-Time Home Buyer program, if they win the federal election. The flagship program, introduced earlier this month, has been criticized for limits which exclude potential buyers of homes in the priciest markets such as Toronto and Vancouver. But the party says […]

A new report shows disparity in home price trajectories across Canada, including some large decreases. The CENTURY 21 analysis of home prices reveals that some communities have seen some steep decreases in price per square foot in the past year, most notably in British Columbia. BC’s decreases are led by some significant downturns in Vancouver, […]

Home sales in Metro Vancouver increased in double digits year-over-year in August. Total sales of 2,231 reported by the Real Estate Board of Greater Vancouver was 12.7% below the July total but was 15.7% higher than in August 2018. Sales were 9.2% below the 10-year average for August. “Home sales returned to more historically normal […]

As Canadians enjoyed the Labour Day holiday, a new government scheme was officially launched that aims to help more people get on the housing ladder. But the First-Time Home Buyer Incentive may not be the panacea for potential new entrants into Canada’s housing market that Justin Trudeau and his ministers hope. Critics say that it […]

The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. The First-Time Home Buyer Incentive launches September 2, 2019*. * The program will be ready to receive Incentive applications on September 2, 2019 (barring any unforeseen circumstances). The first closing will take effect on […]

There was a continued decline in mortgage originations in the second quarter of 2019. Originations fell 8.9% year-over-year with younger Canadians (18-25 years) showing a 13.4% drop according to the Q2 2019 Industry Insights Report from TransUnion Canada. Although the report acknowledges the multi-factor impacts on mortgage originations including home prices, interest rates, consumer sentiment, […]

A global ranking of luxury housing markets has highlighted the divergence of Canada’s two largest markets. Vancouver remains at the bottom of the table of 46 cities worldwide compiled using Knight Frank’s global research network while Toronto ranks 13th. The Prime Global Cities Index tracks the movement in prime residential prices of the 46 cities. […]

The British Columbia housing market showed improvement in July with residential sales up 12.4% year-over-year. The latest assessment of the market from the British Columbia Real Estate Association reveals 7,930 home sales through the MLS system in July. The average residential price in the province was $684,497, down 1.6% year-over-year but total sales dollar volume […]

The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes. The real risk to Canada’s housing market today is not a crash, but a return to nosebleed levels of price growth thanks in part to falling interest rates, said Doug […]