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]

Contractors haven't been building condos and rental apartments at this frenzied rate in nearly 30 years. So says a Bank of Montreal analysis of preliminary housing starts data from Canada Mortgage and Housing Corp. (CMHC) for the month of June. Construction of multi-family dwellings - which include units in condo and rental buildings - roared last month at an annualized rate of about 186,000 starts, or "the highest level on record going back to 1990," writes BMO senior... [read more]

As Fall draws to a close and the new year approaches, plenty of industry experts are making predictions about what 2019 will have in store for the Canadian housing market. This year saw housing activity take a major plunge, following the introduction of stricter mortgage qualification rules in January. While sales and prices have warmed up since then, there are still several factors that could rein in the market come 2019. Here are some predictions for what the market might look like in... [read more]

Engel & Völkers today released the results of an original study, "Meet HENRY: Influencing The Next Generation of Wealth." HENRY, an acronym that stands for High Earners Not Rich Yet, represents a niche demographic subset of Millennials and the youngest members of Gen X who have an annual household income of more than $100,000 and the greatest earning potential. For this study, Engel & Völkers surveyed more than 1,000 Millennial HENRY's (born between 1982 and... [read more]

Stay tuned for my latest ideas, news and tips on real estate! I will also be posting my monthly publication called The Yorkville Report. This newsletter has a subscriber base of thousands of homeowners, investors, and people interested in everything Yorkville. It is read internationally and seen as one of the premier, accurate and informative newsletters available with respect to Yorkville Real Estate. [read more]