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NEWS APRIL 2015
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  TORONTO, April 7 , 2015. Home sales reported by Greater Toronto Area REALTORS® were up by 11 % compared to the same period last year. The average selling price for transactions was up by 10% .


Average price by major home type.
  416 905
Detached $1,042,405 $709,116
Semi-Detached $723,167 $562,353
Townhouse $546,993 $464,515
Condo $398,337 $372,827
     
"“It is clear that seller's market conditions in many parts of the GTA are driving price growth. However, looking at the detached market segment in the City of Toronto in particular, growth in the average selling price outstripped growth in the MLS® HPI. This points to the fact that the mix of detached homes sold this year compared to last has shifted towards more expensive properties”
     
  Baby Boomers - Forever Young.
Baby boomers continue to drive sales in the luxury real estate market, upsizing their homes. When looking for top-tier real estate, baby boomers born between 1946 and 1964 gravitate towards traditionally prestigious neighbourhoods.
Family-driven buyers from Generation X, the generation born right after the baby boomers, tend to prioritize neighbourhoods with high-quality schools in vibrant communities.
Homebuyers from Generation Y, also referred to as Millennials, tend to prioritize trendy, urban neighbourhoods with high walkability scores.
Baby Boomer parents are also helping a lot their Gen-Y and Gen-X kids with first home purchases.
     
  Brick , stone or stucco

The style of the home will dictate the use of these products. Obviously, if you want to construct a Tuscan or Mediterranean home, you will most likely use stucco or a combination of stone and stucco. If you want to build an English or French home, you will use more brick and stone.

If your decision is made purely for economic reasons, you must choose brick. Brick costs about a third less than stucco if you use a King Size brick. Natural stone, which falls into the same construction category as brick, costs about twice what brick costs, and about 33% more than stucco.

The real differences in brick, stone, and stucco lie in the performance area. Stucco if installed properly , is waterproof by nature. Moisutre will not penetrate through a stucco wall. So, from purely a performance perspective, stucco outperforms brick and stone.
 
  Mortgage insurance premium are going up

Starting June 1, buyers who borrow at least 90 per cent of the purchase price of a home will pay about 15 per cent more for mortgage insurance.

By law, anyone who wants to purchase a home in Canada with less than 20 per cent as a down payment must purchase mortgage insurance.
For a first-time home buyer who's putting five per cent down and applying for a $300,000 mortgage, the new rules would add $6 to their monthly mortgage payment — assuming it's a 25-year mortgage at 2.79 per cent
The changes won't affect anyone who already has mortgage insurance, but will be in effect for any loan applications that come in dated later than June 1.