Toronto's home prices extended gains in November, and are now accelerating at the fastest annual pace since 2017 as demand continues to outpace a dwindling supply of listings. Benchmark prices on homes sold in Canada's biggest city rose 0.6% in November from October, bringing the increase from a year earlier to 6.8%. The number of transactions also rose with sales up 14% from November 2018. Toronto's housing market has began bouncing back in recent months - driven by a... [read more]

If you're looking for a weekend getaway from Toronto or even just a day trip, there are many quaint small towns that feel like an entirely different world than the big city. A perfect example is Elora. Located just north of Guelph, this small town is known for its natural beauty and local charm. One place you probably already know in Elora is the famous Elora Gorge. Located on the western side of the city, this conservation area covers over 350 acres of natural land. The Grand... [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]

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]

Much ink has already been spilled over the rebound in housing that's underway in some of Canada's largest markets. After a volatile 2018 and an exceptionally brutal winter, home sales began to recover, particularly in the Toronto and Vancouver regions. The country's all-seeing housing eye, the Canada Mortgage and Housing Corporation (CMHC), recently published it's optimistic 2020-2021 market outlook. The organization famously predicted that 2019 would be one of the worst... [read more]