Faced with higher interest rates and tougher mortgage qualification rules, many Canadians have turned to the new condo market as a more affordable shot at homeownership. One property type that hasn’t been as attractive? Townhouses.
Canadian homebuyers are increasingly looking for cheap alternatives to the pricey Toronto housing market. One contender that has emerged in recent months? Ottawa, which has seen activity gain momentum throughout 2018.
The Canadian housing market hasn’t provided much of a boost to the country’s economy in 2018 and, according to one bank, it’s a trend that will likely continue in the new year.
Housing starts have been slowing in recent months, which CIBC economist Royce Mendes believes is a sign that the market will exert a drag on the Canadian economy in 2019.
Despite rising housing costs, eight out of ten young, urban families in Canada’s key metropolitan areas would prefer to live in a detached single family home if money was no object. This was one of the main highlights in a recent report released by Mustel Group and Sotheby’s International Realty Canada on home ownership trends among modern families.
The majority of young Canadian families would prefer to live in a single detached home, but many have given up on the dream of ever being able to buy one.
In fact, 43 percent of families surveyed in a recent report from Sotheby’s International Realty Canada said that high detached home prices meant they had to settle for higher density housing.
Canada’s latest GDP numbers will be released later this week and, to no one’s surprise, the country’s housing market will likely have an impact on
After a slow start to the year, Canadian home prices have been warming up for months. But does that mean that the market will gradually
Ever since the introduction of a new mortgage stress test in January, Canadians’ mortgage debt levels have been on the decline, and last quarter was
The high cost of housing in the Greater Toronto Area is leaving many residents side-lined with little expectation that much can be done. A new
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