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Top 10 Real Estate News Stories From June 25 – July 8, 2018

Our CondoNow experts have narrowed down the top 10 real estate news stories from June 25 – July 8, 2018.

The cost of homeownership in Vancouver hits “crisis levels”, Toronto demands mid-rise housing and Sidewalk Toronto’s plan deadline pushed back to Spring 2019. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

The Cost of Owning a Home in Vancouver (88% of income) Has Hit Crisis Levels

The share of household income required to cover mortgage payments, property taxes and utilities in the Greater Vancouver Area reached a record high of 87.8 per cent in the first quarter, rising 1.5 percentage points from the fourth quarter and up 9.5 per cent from the prior year.
Full Story on FinancialPost.com

 

Builders in Toronto are facing something of a dilemma: Residents want fewer high-rises and planners are making available more sites suitable for more compact buildings, but costs are making mid-rise residential properties exceptionally expensive to construct.
Full Story on TheGlobeandMail.com

 

 

Deadline for ‘Sidewalk Toronto’ Plan Pushed Back

A waterfront advocate is relieved Waterfront Toronto and Sidewalk Labs are extending their timeline to develop a proposal for a high-tech waterfront neighbourhood.
Full Story on MSN.com

 

 

 

Toronto Home Sales Jump Most Since 2004 as Buyers Return to Market

Toronto home sales jumped the most in more than a decade last month, a sign that Canada’s biggest housing market is rebounding from the chill brought on by tighter lending regulations and higher borrowing costs in the past few months.
Full Story on FinancialPost.com

 

 

Foreign Buyers Perceived to Influence Real Estate Prices, Despite Data: CMHC

Foreign buyers might make up a small sliver of Canada’s biggest real estate markets, but homebuyers in Toronto, Vancouver and Montreal still believe they are heavily influencing housing activity.
Full Story on CTVNews.ca

 

 

The corner of Front Street West and Spadina used to feel like the Western outback, alone and removed, even if only a few blocks from Toronto’s downtown core, facing noisy commuter rail lines.
Full Story on TheGlobeandMail.com

 

 

 

Midtown West Perfect for Certain Kind of Investor

The west side of Midtown Toronto is experiencing rebirth—and promises opportunity for the right kind of investor.
Full Story on CanadianRealEstateMagazine.ca

 

 

 

Unit Flexibility and Lakeside Living

A planned 25-year buildout in what will become a new neighbourhood—and a sprawling one at that—the biggest real estate developers in the city are building towers in the East Bayfront Precinct.
Full Story on CanadianRealEstateMagazine.com

 

 

 

One Delisle is a 522-ft-tall tower with 263 residences that Slate Asset Management is proposing to build on one of 10 properties it has bought in midtown Toronto.
Full Story on BDCNetwork.com

 

 

 

Don’t Blame Real Estate Investors for Rental Market Woes

Haider-Moranis Bulletin: A deep-dive into Toronto housing data should dispel some myths that have fuelled disdain for investors who make renting possible.
Full Story on FinancialPost.com

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