It's now in a class of  cities with booming tech industries and rapidly rising house prices, a new forecast says. Toronto's housing market has seen a marked slowdown since a new non-resident tax successfully pushed many foreign buyers out, but a forecast from real estate agency Engel & Völkers says a new phenomenon is about to take over as the driver of Toronto's housing boom: The tech industry. The influx of tech companies into Toronto's downtown core in... [read more]

It may not be a glorious sight, but the sight shows a bright future: Right now, Toronto has the most construction cranes in North America - which indicates massive development. Toronto has an estimated 97 active construction cranes as of July 2018, according to the recent Rider Levett Bucknall Index (RLB Crane Index). This means the city has more than double the number of cranes of Chicago, four times as many as San Francisco and about five times as many cranes as New York City. In fact,... [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]

NEW 59-STOREY TOWER PROPOSED FOR SCOLLARD ST. IN YORKVILLE A residential tower has been proposed by the Cityzen Development Group for the southwest corner of Yonge and Scollard Streets in Toronto's tony Bloor-Yorkville area. Designed by the highly regarded Bruce Kuwabara of KPMB Architects, the 59-storey structure with a marble and white concrete-clad exoskeleton is meant as an architectual gateway to the Yorkville area from the north. 1 Scollard is proposed as a slender tower of... [read more]

GTA HOME PRICES CLIMB 16.8% IN JUNE The uphill journey facing would-be-buyers got even steeper in June with home prices climbing by double digits compared to a year ago as supply hit record lows. The average price of a GTA property last month rose by 16.8% to $746,546 according to the Toronto Real Estate Board. As has been the trend, low-rise houses that includes detached, semis and townhomes saw the most significant price gains. The average detached home in the suburban GTA will... [read more]