Canada's red-hot housing markets hint at cooldown as higher rates, inflation bite
'What we're going to stop seeing are the homes that sell for inexplicable amounts above their market values'
Toronto realtor member has noted a marked slowdown in housing demand in the red-hot Greater Toronto Area over the past few weeks, which she sees as a likely precursor to a reckoning in the suburbs and surrounding towns that have seen blistering price growth over the past two years.
“I had listings that, in January, would have had a 100+ showings,” a chief executive, said. “All of a sudden, we’re only getting five to six in four days. This is a transition period and it’s not for all markets or price points. But we’re seeing it.”
Already, homes listed for sale in supply-constrained Toronto have fallen at a slower pace than sales in February from a year earlier, compared with most of last year when listings lagged sales.
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'What we're going to stop seeing are the homes that sell for inexplicable amounts above their market values'
Toronto realtor member has noted a marked slowdown in housing demand in the red-hot Greater Toronto Area over the past few weeks, which she sees as a likely precursor to a reckoning in the suburbs and surrounding towns that have seen blistering price growth over the past two years.
“I had listings that, in January, would have had a 100+ showings,” a chief executive, said. “All of a sudden, we’re only getting five to six in four days. This is a transition period and it’s not for all markets or price points. But we’re seeing it.”
Already, homes listed for sale in supply-constrained Toronto have fallen at a slower pace than sales in February from a year earlier, compared with most of last year when listings lagged sales.
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Ontario to hike tax on foreign homebuyers while expanding it provincewide
The Ontario government is hiking its tax on foreign homebuyers ahead of a provincial election campaign where affordability is expected to be a key issue.
In a news release issued on Tuesday afternoon, the province confirmed it would increase its non-resident speculation tax from 15 to 20 per cent starting tomorrow.
The government said the tax would be expanded province-wide. Previously it only applied to properties purchased in the Greater Golden Horseshoe Region in southern Ontario.
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The Ontario government is hiking its tax on foreign homebuyers ahead of a provincial election campaign where affordability is expected to be a key issue.
In a news release issued on Tuesday afternoon, the province confirmed it would increase its non-resident speculation tax from 15 to 20 per cent starting tomorrow.
The government said the tax would be expanded province-wide. Previously it only applied to properties purchased in the Greater Golden Horseshoe Region in southern Ontario.
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انتاریو مالیات بر خریداران خانه خارجی را افزایش می دهد و در عین حال آن را در سراسر استان گسترش می دهد
دولت انتاریو در آستانه کمپین انتخاباتی استانی که انتظار می‌رود مقرون به صرفه بودن یک مسئله کلیدی باشد، مالیات خود را بر خریداران خانه خارجی افزایش می‌دهد.
در بیانیه‌ای که بعدازظهر سه‌شنبه منتشر شد، این استان تأیید کرد که از فردا مالیات خریداران غیرمقیم را از ۱۵ به ۲۰ درصد افزایش می‌دهد.
دولت گفت که این مالیات در سراسر استان گسترش خواهد یافت. قبلاً فقط برای املاک خریداری شده در منطقه نعل اسب طلایی بزرگ (Greater Golden Horseshoe Region) در جنوب انتاریو اعمال می شد.
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دولت انتاریو در آستانه کمپین انتخاباتی استانی که انتظار می‌رود مقرون به صرفه بودن یک مسئله کلیدی باشد، مالیات خود را بر خریداران خانه خارجی افزایش می‌دهد.
در بیانیه‌ای که بعدازظهر سه‌شنبه منتشر شد، این استان تأیید کرد که از فردا مالیات خریداران غیرمقیم را از ۱۵ به ۲۰ درصد افزایش می‌دهد.
دولت گفت که این مالیات در سراسر استان گسترش خواهد یافت. قبلاً فقط برای املاک خریداری شده در منطقه نعل اسب طلایی بزرگ (Greater Golden Horseshoe Region) در جنوب انتاریو اعمال می شد.
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▪️تورنتو در هر قابی، در هر فصلی و در هر ساعت از شبانه روز زیباست.
Toronto is beautiful in every frame, in every season and at every hour of the day.
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Toronto is beautiful in every frame, in every season and at every hour of the day.
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Expect a hot, hot, hot real estate season in cottage country
Royal LePage, the real estate brokerage firm, predicts the national aggregate price for a home away for home will rise 13 per cent in 2022 from last year, to $647,710 for a single family unit, as demand continues to outstrip supply.
“The factors challenging Canada’s residential real estate market — chronic low supply and growing demand — are amplified in the recreational property segment.”
According to the survey, 84 per cent said there are fewer properties for sale than last year. Further, 50 per cent said there was “significantly” fewer units on the market.
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Royal LePage, the real estate brokerage firm, predicts the national aggregate price for a home away for home will rise 13 per cent in 2022 from last year, to $647,710 for a single family unit, as demand continues to outstrip supply.
“The factors challenging Canada’s residential real estate market — chronic low supply and growing demand — are amplified in the recreational property segment.”
According to the survey, 84 per cent said there are fewer properties for sale than last year. Further, 50 per cent said there was “significantly” fewer units on the market.
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