According to a new survey commissioned by Royal LePage, newcomers represent one in every five homebuyers (21 per cent) in Canada. If the current international migration level is maintained, newcomers are expected to purchase 680,000 homes over the next five years. "In addition to supporting Canada's economic growth, newcomers to Canada are vital to the health of our national real estate market," said Phil Soper, president and CEO of Royal LePage. "The combined demand for... [read more]

Let's start with the good news since it's the freshest. Toronto apartment rentals saw the slowest rate of price growth in the last two years during the third quarter of this year. Real estate research firm Urbanation, which tracks prices for purpose-built apartments in the region, released new data today that found the average price for a Greater Toronto Area rental apartment was "essentially unchanged" between July and August when compared to the April to May... [read more]

PRE-CONSTRUCTION CONDOS: SHOULD YOU USE A REALTOR? Should you use a realtor when buying a new pre-construction condo? The answer for this is a definite YES. Toronto Realtor Matt Smith, who specializes in helping buyers navigate through the complicated process of buying new condos, has shared with me the many pitfalls and disadvantages of buyers going at it alone when dealing with the builders' sales staff. Above all else, realize that the builder's sales team works for... [read more]

WHERE THE MOST (& LEAST) EXPENSIVE CONDO AREAS ARE ALONG THE SUBWAY Tess Kalinowski, Toronto Star Image courtesty of: Andrew Francis Wallace/Toronto Star File Photo Want a condo but don't want to compromise on TTC access? Consider something in the Danforth area where the price per square foot is substantially lower than buildings on the Yonge-University-Spadina subway. If you're looking for luxury, get off at Museum where condos in the vicinity average $1,029 per square... [read more]