Teranet-National Bank National Composite House Price Index™.
August 25th, 2010 categories: Around TORONTO, Buying in Toronto, Economy, Real Estate, Selling in Toronto, Toronto
Teranet and the National Bank of Canada joined together about one year ago to produce this House Price Index of major centres across Canada. Please remember that it only reflects the large centres and is comprehensive for those living in those centres but would not reflect a vision of Canada as a whole. I get these newsletters monthly and you can subscribe to them at www.housepriceindex.ca.
Teranet’s data is from Land Registry systems across Canada so also reflects all transactions, not just those on MLS…
NEWSLETTER – AUGUST 25, 2010
Monthly price rise of 1.5% in June
Canadian home prices in June were up 13.6% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. The 12-month gain, identical to that of May, was strongly influenced by Vancouver, up 16.3%, and Toronto, up 16.2%. In the other four markets surveyed, the 12-month rise ranged from 7.1% in Halifax to 12.0% in Ottawa. In Calgary it was 8.3% and in Montreal 8.7%.
June was the third consecutive month in which prices were up from the month before in all six metropolitan areas surveyed. The monthly rise of the composite index, 1.5%, was the largest since last August. The monthly rise was 2.7% in Ottawa, 2.4% in Toronto, 1.4% in Montreal, 1.3% in Halifax, 0.8% in Vancouver and 0.2% in Calgary. For the composite index it was the 14th straight monthly increase, the longest such run since October 2006. Read the rest of this entry »
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Toronto Real Estate Board Condo Commentary Second Quarter 2010
August 24th, 2010 categories: Around TORONTO, Buying in Toronto, Condominium, Downtown Toronto, Real Estate, Selling in Toronto
![treb_condo_commentary_q2_2010[1]](http://torontoism.com/files/2010/08/treb_condo_commentary_q2_201011.jpg)
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Real Estate: What is Included in the HST?
May 2nd, 2010 categories: Business, Buying in Toronto, Economy, Food, Lifestyle, Real Estate, Technology
It seems almost daily that I am reminded how little we know about the upcoming Harmonized Sales Tax. There is so much confusion in the Public’s mind about what is to be taxed and what is not to be.
The biggest misconception that I hear because of my business is that there seems to be a concern out there that resale housing draws HST. It does not. HST is only on New Constuction. However, HST is payable on any of the services that are used in the Buying or Selling of property. But again: RESALE HOUSING AT ANY PRICE DOES NOT DRAW “HST”, only the services that are involved.
For a full view of what is taxed, I’d like to thank Lori Nichol of Forest Hill Realty Inc. who forwarded me this great summary. To make it easy to view you can easily make it “Full Screen”.
If you would like it in .pdf format jusr click here.
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Why Toll Roads in Toronto are not such a bad idea….
March 18th, 2010 categories: Around TORONTO, Downtown Toronto, Economy, Getting around the City, Toronto
Here me out on this:
First….most of the great large cities in the world have excellent Subways and rail lines. Toronto slowed and almost stopped building Subways and rapid transit years ago and we became more and more dependent on highways for transportation.
Second…Toronto is surrounded by bedroom communities filled with people who use the major thoroughfares to come to the City to make their incomes and head back to their suburban properties where they pay the most of their taxes. Some major cities like New York make suburbanites who get paid in the City, pay a special tax to the City of New York.
Third…and most important…even though it is difficult, cars have made it easier to live in one part of the City, work in another part of the City or Province and recreate in yet another part of the City or Province. We think nothing of doing so because the cost is relatively cheap. Read the rest of this entry »
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GREATER TORONTO REALTORS® REPORT FEBRUARY RESALES
March 3rd, 2010 categories: Downtown Toronto, Economy, Real Estate, Toronto
Here is the most recent update from the Toronto Real Estate Board. We are still having an active market due to the excellent mortgage rates available to the consumer. I’m always interested in your thoughts so feel free to comment below.
TORONTO, March 3, 2010 – Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.
“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”
New listings also increased in February, climbing 24 per cent compared to the same month last year.
“Annual growth in new listings is expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single-digit rates of price growth.”
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Downtown Toronto News Is Up and Running!
February 2nd, 2010 categories: Around TORONTO, Downtown Toronto, Listings, Toronto
www.DowntownTorontoNews.com
Every morning I get up, head to the front door, pick up my Globe and Mail and skip happily to the Toronto Section. What happens in the rest of the world and the world economy is important, but nothing engages me like breaking new in Toronto. Sadly, I find myself with the feeling that I am missing a lot of the Toronto goings-on, and head to the Internet going to several sources to keep up to date. Read the rest of this entry »
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Toronto Real Estate Board Launches IDX.
February 2nd, 2010 categories: Around TORONTO, Economy, Real Estate, Technology
IDX or Internet Data Exchange has been launched by the Toronto Real Estate Board this month. This platform allows the participating Brokers to share their listings with other participating Brokers on their web sites. For a consumer it means greater access to one-stop shopping on a Brokerage or Realtor site. Read the rest of this entry »
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The Canadian Real Estate Market: Consumer confidence in Canada ends on a stronger footing in 2009
January 24th, 2010 categories: Business, Buying in Toronto, Economy, Real Estate
Below is a great article from the Canadian Real Estate Association about the levels in Consumer Confidence as one moves across Canada:
National consumer confidence ended the year 2009 on a stronger footing compared to pre-recession levels, despite having edged down slightly the fourth quarter compared to the third quarter. According to the Conference Board of Canada’s index of consumer confidence, confidence eased slightly in the fourth quarter for the first time in three quarterly periods. The decrease in confidence reflects weakening sentiment about making major purchases. Read the rest of this entry »
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Impressions of REBarCampNYC and Inman Connect NYC 2010!
January 22nd, 2010 categories: Business, Economy, Real Estate, Technology, Travel
So I have been home a week and trying to make sense of all the information that I gleaned in the four hectic days of meetings in New York City. Instead of the usual “Blow by Blow” and who said what, I will just give you some of my impressions:
First and foremost, the four days were all about Social Media . Like it or not, just the way we used to say that Realtors with Technology will replace Realtors without it, now, Realtors and Brokers who have a Social Media presence will replace those who do not. As one of the speakers said, being a “Geek” is the norm and fashionable. Grandma’s are on Facebook , tweeting and showing off their new IPhone ! Read the rest of this entry »
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Canadian Real Estate Association – 2009 Resale Housing Market Ends On a High Note.
January 20th, 2010 categories: Business, Buying in Toronto, Lifestyle, Real Estate, Toronto
Existing home sales activity reached the highest level ever for the month of December, according to statistics released by The Canadian Real Estate Association . Strong demand in the second half of 2009, especially in the fourth quarter, pushed annual sales above 2008 levels.
Residential sales activity via the Multiple Listing Service® (MLS®) of Canadian real estate boards numbered 27,744 units in December 2009. This stands 72 per cent above activity in December 2008, when activity dropped to the lowest level in a decade. New records for the month of December were reported in Ontario, Quebec, Saskatchewan, New Brunswick, and Newfoundland & Labrador. Read the rest of this entry »
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