Real Estate News

OTTAWA — The parliamentary budget officer says Canada would need to build 1.3 million additional homes by 2030 to eliminate the country's housing gap.

TORONTO — Ontario proposed Wednesday to allow municipalities to enact "use it or lose it" policies on developers, speed up the creation of student housing, and streamline approvals for standardized housing designs as it seeks new paths to reach its g

TORONTO — Ontario is considering counting student residences toward its target of building 1.

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 14.2 per cent in March compared with the same month last year.

The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.

VICTORIA — British Columbia has tabled legislation to enact a 20 per cent flipping tax on those who sell their home within the first year of ownership.

TORONTO — The Toronto Regional Real Estate Board says Greater Toronto home sales in March were down 4.5 per cent from last year, but there was enough competition between buyers that the average home price rose moderately year-over-year.

VANCOUVER — Greater Vancouver's real estate board says the number of homes that changed hands in March fell from the previous year, as total sales were nearly one-third lower than the 10-year average.

Renting your home for life doesn't have to spell financial sacrifice; it simply means directing your money elsewhere. Young people in today’s housing market can feel particularly hopeless, said Shelley Smith, an investment advisor at TD Wealth.

CALGARY — The Calgary Real Estate Board says March home sales were up 9.9 per cent from last year as interprovincial migration to Alberta contributed to tight market conditions.