logo
NEWS MARCH 2015
Main Page
Buying Home
Selling Home
Invest
News
Listings
School
 
 
       
  TORONTO, March 4 , 2015. Home sales reported by Greater Toronto Area REALTORS® were up by 11.3 % compared to the same period last year. The average selling price for transactions was up by 7.8% .


Average price by major home type.
  416 905
Detached $1,040,018 $694,3
Semi-Detached $702,0 $474,3
Townhouse $507,8 $433,1
Condo $369,7 $322,1
     
"“Even with the record low temperatures last month, we still saw an increase in the number of people purchasing homes in the GTA. This speaks to the importance households place on home ownership and the fact that buyers continue to view ownership housing as a quality long-term investment in which they can live”
     
  The IMF warns Canadians about the housing market

The Canadian housing starts hit their lowest pace since 2009, the IMF warned homeowners that their houses are priced too high, by as much as seven to 15 per cent. Canadians are borrowing just to pay their down payments. Housing starts were at an annualized 156,300—down by 16.4 per cent—with a particularly marked drop in condos and apartments.
Are you worrying too much? Then call me!
Last year was marked by an onslaught of reports from across the globe, claiming Canada’s housing market is overvalued.
The key is that people should ignore these evaluation studies and should pay attention to the people who track these markets every day. You can’t compare a condo in downtown Toronto to a 7,000 square-foot house in Squamish, B.C.
     
  World's first 3D-printed apartment building constructed in China


A Chinese company has successfully 3D printed a five-storey apartment building and a 1,100 square metre villa from a special print material.

This process saves between 30 and 60 percent of construction waste, and can decrease production times by between 50 and 70 percent, and labour costs by between 50 and 80 percent. In all, the villa costs around $161,000 to build. And, using recycled materials in this way, the buildings decrease the need for quarried stone and other materials -- resulting in a construction method that is both environmentally forward and cost effective.
 
  Baby boomers are not doing what people predicted

Even Phil Soper, president and CEO of Royal LePage, said the predictions analysts originally made were “simply wrong” “Baby boomers, in a recent study we did, were expected to desert the suburbs in droves, and in fact, this doesn’t appear to be happening,” he said at an Empire Club of Canada event last month. “Almost half – 45 per cent – [of baby boomers] who were looking for their next purchase [were looking] to buy a home of the same size or larger.”.
In order to access the equity in their expensive Toronto homes – the average price for a detached house in Canada’s largest city topped $1 million in February – many boomers are heading to the ‘burbs, where they can buy a large house on a big plot of land for a fraction of the sale price of their old home..