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New Condo development by Block Developments located at Dufferin St & Queen St W, Toronto.
Est. Occupancy: December 2022
Minutes to walk to the 301 & 501 Streetcar for travelling to work, play, entertainment or simply exploring all the city has to offer. Steps to Liberty Village, King West. Close to BMO Field, Exhibition Place, Lake Ontario, Forty York, the CNE and so much more! Close proximity to Gardiner Expressway. Minutes away to Trinity Bellwoods Park.
Amenities:
Barbeques, Catering Kitchen, Executive Concierge in Lobby, Fitness Center with Cardio & Weight Equipment, Lounge Areas with Fire pit, Dining & Meeting Room, Eco Friendly Green Roofs, Sunbathing, Designer Decorated Party Room with Full Kitchen, Pet Spa, Security Cameras, Rooftop Terrace Lounge
Prices Start from $1,334,900 - $1,745,900
957 sq ft to 1444 sq ft
Ceiling Height: 9" - 10"
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
Est. Occupancy: December 2022
Minutes to walk to the 301 & 501 Streetcar for travelling to work, play, entertainment or simply exploring all the city has to offer. Steps to Liberty Village, King West. Close to BMO Field, Exhibition Place, Lake Ontario, Forty York, the CNE and so much more! Close proximity to Gardiner Expressway. Minutes away to Trinity Bellwoods Park.
Amenities:
Barbeques, Catering Kitchen, Executive Concierge in Lobby, Fitness Center with Cardio & Weight Equipment, Lounge Areas with Fire pit, Dining & Meeting Room, Eco Friendly Green Roofs, Sunbathing, Designer Decorated Party Room with Full Kitchen, Pet Spa, Security Cameras, Rooftop Terrace Lounge
Prices Start from $1,334,900 - $1,745,900
957 sq ft to 1444 sq ft
Ceiling Height: 9" - 10"
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
Home Prices in Canada Fall Again as Mortgage Pain Intensifies
Canadian home prices declined for the second straight month as surging borrowing costs spur a reversal in what had been one of the world’s hottest housing markets.
Canada’s benchmark home price fell 0.8% to C$822,900 in May from the month before, according to data released Wednesday by the Canadian Real Estate Association. Cities in Ontario showed the biggest declines.
Sales also dropped sharply, falling 8.6% from the previous month, the association said.
The drop comes after Canadian home prices shot up more than 50% over a two-year period as ultra-low interest rates and demand for larger living spaces led to bidding wars for properties.
Now, as the Bank of Canada tries to rein in inflation that’s running at nearly 7%, mortgage rates are rising quickly and policy makers have identified high house prices and heavily-indebted homeowners as major vulnerabilities in the economy.
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Canadian home prices declined for the second straight month as surging borrowing costs spur a reversal in what had been one of the world’s hottest housing markets.
Canada’s benchmark home price fell 0.8% to C$822,900 in May from the month before, according to data released Wednesday by the Canadian Real Estate Association. Cities in Ontario showed the biggest declines.
Sales also dropped sharply, falling 8.6% from the previous month, the association said.
The drop comes after Canadian home prices shot up more than 50% over a two-year period as ultra-low interest rates and demand for larger living spaces led to bidding wars for properties.
Now, as the Bank of Canada tries to rein in inflation that’s running at nearly 7%, mortgage rates are rising quickly and policy makers have identified high house prices and heavily-indebted homeowners as major vulnerabilities in the economy.
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The central bank has raised its key policy rate from 0.25% to 1.5% since the beginning of March, while signaling even more aggressive increases could be coming next month.
“May picked up where April left off, with sales activity continuing to slow and softening prices in many parts of the country,” CREA Chair Jill Oudil said in a statement. “We are in a period of rapid change, but one that should settle to a more balanced housing market in time.”
Last week, at its annual review of the financial system, the central bank said those who bought homes during the pandemic could become vulnerable as rates rise because they took on high levels of debt to do so, and the meager equity they’ve built up so far could be wiped out as prices fall.
The markets driving the national price decline are smaller cities in Ontario that experienced the biggest gains during the pandemic boom, as buyers priced out of Toronto looked further afield. Cambridge, Ontario, about an hour outside Toronto, saw benchmark prices fall 4.6% in May from the previous month, while home prices in North Bay, almost four hours away, fell 4%, the data show.
In a sign the pain is starting to spread, the same pattern held around Vancouver, where the biggest losses in surrounding markets like Chilliwack, British Columbia, where prices fell 3%.
Still, the cooling in the national market has only brought activity back to levels that are more in line with historical norms. The number of sales in May was slightly above the 10-year average for the month, for example.
The ratio of sales to new listings, a measure of market tightness, fell to 57.5% -- a three-year low that is close to its longer-term average, data from the real estate association showed.
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“May picked up where April left off, with sales activity continuing to slow and softening prices in many parts of the country,” CREA Chair Jill Oudil said in a statement. “We are in a period of rapid change, but one that should settle to a more balanced housing market in time.”
Last week, at its annual review of the financial system, the central bank said those who bought homes during the pandemic could become vulnerable as rates rise because they took on high levels of debt to do so, and the meager equity they’ve built up so far could be wiped out as prices fall.
The markets driving the national price decline are smaller cities in Ontario that experienced the biggest gains during the pandemic boom, as buyers priced out of Toronto looked further afield. Cambridge, Ontario, about an hour outside Toronto, saw benchmark prices fall 4.6% in May from the previous month, while home prices in North Bay, almost four hours away, fell 4%, the data show.
In a sign the pain is starting to spread, the same pattern held around Vancouver, where the biggest losses in surrounding markets like Chilliwack, British Columbia, where prices fell 3%.
Still, the cooling in the national market has only brought activity back to levels that are more in line with historical norms. The number of sales in May was slightly above the 10-year average for the month, for example.
The ratio of sales to new listings, a measure of market tightness, fell to 57.5% -- a three-year low that is close to its longer-term average, data from the real estate association showed.
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▪️با افزایش تدریجی نرخ بهره قیمت خانه در حال کاهش است و بگفته Robert Hogue یکی از اقتصاددانان بانک RBC فروشنگان بسرعت شانس خود برای بفروش رساندن ملک در بازار قدرتمند را از دست می دهند،هرچند شرایط عرضه و تقاضا هنوز خریداران را در شرایط خوبی قرار نداده است.
▪️در ماههای آپریل و می فروش ملک 8.6 درصد کاهش یافته و در عین حال لیستینگ های ملک بصورت ماه به ماه 4.5 درصد افزایش داشته است. نسبت فوش-به لیستینگ های جدید به پایین تر شکل خود از آپریل 2019 یعنی 57.5 درصد رسیده است. بگفته وی این انتظار وجود دارد با افزایش مجدد نرخ بهره، کاهش قیمت ملک همچنان ادامه داشته باشد و سرد شدن ایجاد شده در ماههای اخیر، در ماههای آینده نیز تشدید یابد و در نهایت منجر به اصلاح گسترده قیمت ها شود.
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▪️در ماههای آپریل و می فروش ملک 8.6 درصد کاهش یافته و در عین حال لیستینگ های ملک بصورت ماه به ماه 4.5 درصد افزایش داشته است. نسبت فوش-به لیستینگ های جدید به پایین تر شکل خود از آپریل 2019 یعنی 57.5 درصد رسیده است. بگفته وی این انتظار وجود دارد با افزایش مجدد نرخ بهره، کاهش قیمت ملک همچنان ادامه داشته باشد و سرد شدن ایجاد شده در ماههای اخیر، در ماههای آینده نیز تشدید یابد و در نهایت منجر به اصلاح گسترده قیمت ها شود.
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New Condo development by Block Developments located at Dufferin St & Queen St W, Toronto.
Est. Occupancy: December 2022
Minutes to walk to the 301 & 501 Streetcar for travelling to work, play, entertainment or simply exploring all the city has to offer. Steps to Liberty Village, King West. Close to BMO Field, Exhibition Place, Lake Ontario, Forty York, the CNE and so much more! Close proximity to Gardiner Expressway. Minutes away to Trinity Bellwoods Park.
Amenities:
Barbeques, Catering Kitchen, Executive Concierge in Lobby, Fitness Center with Cardio & Weight Equipment, Lounge Areas with Fire pit, Dining & Meeting Room, Eco Friendly Green Roofs, Sunbathing, Designer Decorated Party Room with Full Kitchen, Pet Spa, Security Cameras, Rooftop Terrace Lounge
Prices Start from $1,334,900 - $1,745,900
957 sq ft to 1444 sq ft
Ceiling Height: 9" - 10"
Deposit Notes: 10%
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
Est. Occupancy: December 2022
Minutes to walk to the 301 & 501 Streetcar for travelling to work, play, entertainment or simply exploring all the city has to offer. Steps to Liberty Village, King West. Close to BMO Field, Exhibition Place, Lake Ontario, Forty York, the CNE and so much more! Close proximity to Gardiner Expressway. Minutes away to Trinity Bellwoods Park.
Amenities:
Barbeques, Catering Kitchen, Executive Concierge in Lobby, Fitness Center with Cardio & Weight Equipment, Lounge Areas with Fire pit, Dining & Meeting Room, Eco Friendly Green Roofs, Sunbathing, Designer Decorated Party Room with Full Kitchen, Pet Spa, Security Cameras, Rooftop Terrace Lounge
Prices Start from $1,334,900 - $1,745,900
957 sq ft to 1444 sq ft
Ceiling Height: 9" - 10"
Deposit Notes: 10%
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
▪️برای غلبه بر مشکل مسکن در سراسر کانادا، تا سال 2030 می بایست حدود 5.8 میلیون خانه در کانادا ساخته شود. چنانچه روند فعلی ساخت و ساز خانه های جدید ادامه یابد، انتظار می رود تا سال 2030 حدود 2.3 میلیون واحد ساخته می شود، اما برای حل مشکل مسکن و ایجاد قدرت خرید در مردم، 3.5 میلیون خانه دیگر نیز می بایست ساخته شود. بهتر شدن شرایط بازار مسکن و حل کمبود نیروی کار در بخش ساخت و ساز می تواند موجب شود تا در سال 2030 تعداد خانه های ساخته شده در کانادا به بیش از 22 میلیون خانه برسد.
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Canadians Are Buying Homes In “Least Affordable Market in a Generation”
There’s no disputing the fact that housing markets all across Canada have seen wildly unaffordable price jumps over the past two years, leaving many Canadians putting their dreams of homeownership on hold. In fact, according to a new report from RBC Economics, Canadians are now faced with the prospect of buying homes in “the least affordable market in a generation.”
During the first quarter of 2022, RBC’s aggregate affordability measure for Canada soared 3.7 percentage points to 54% — the worst level of affordability seen since the early 1990s.
“Ownership costs rose in every market we track, though the degree of pain felt by buyers varies dramatically across the country,” RBC Senior Economist Robert Hogue wrote in the report.
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There’s no disputing the fact that housing markets all across Canada have seen wildly unaffordable price jumps over the past two years, leaving many Canadians putting their dreams of homeownership on hold. In fact, according to a new report from RBC Economics, Canadians are now faced with the prospect of buying homes in “the least affordable market in a generation.”
During the first quarter of 2022, RBC’s aggregate affordability measure for Canada soared 3.7 percentage points to 54% — the worst level of affordability seen since the early 1990s.
“Ownership costs rose in every market we track, though the degree of pain felt by buyers varies dramatically across the country,” RBC Senior Economist Robert Hogue wrote in the report.
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As to be expected, affordability is worst in Canada’s largest markets, with the situation in Vancouver, Toronto, and Victoria reaching extremes, the report says. Parts of southern Ontario, as well as BC’s Lower Mainland, are also out of reach for many buyers.
Recently implemented Bank of Canada interest rate hikes are causing changes to Canadians’ financial situations nation-wide, but not every Canadian is being hit equally. Buyers in the country’s priciest markets are facing the steepest increases to their monthly mortgage bills.
“For instance, a 1 percentage-point rate increase raises mortgage payments by more than $600 per month in Vancouver, $554 in Toronto, and $481 in Victoria, based on typical home prices in the first quarter (valued at $1.4 million, $1.3 million and $1.1 million, respectively),” the report reads. “These figures far exceed the $360 a month average rise in mortgage rates in Canada. St. John’s, Regina and other more modestly-priced markets are considerably less sensitive, with increases ranging from $125 to $160 a month.”
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Recently implemented Bank of Canada interest rate hikes are causing changes to Canadians’ financial situations nation-wide, but not every Canadian is being hit equally. Buyers in the country’s priciest markets are facing the steepest increases to their monthly mortgage bills.
“For instance, a 1 percentage-point rate increase raises mortgage payments by more than $600 per month in Vancouver, $554 in Toronto, and $481 in Victoria, based on typical home prices in the first quarter (valued at $1.4 million, $1.3 million and $1.1 million, respectively),” the report reads. “These figures far exceed the $360 a month average rise in mortgage rates in Canada. St. John’s, Regina and other more modestly-priced markets are considerably less sensitive, with increases ranging from $125 to $160 a month.”
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