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Max Ortoli & Nikki Lobello
Sales Representatives
mortoli@trebnet.com

Homelife Romano Realty Ltd.
Brokerage
Independently owned and operated.

Max Ortoli & Nikki Lobello Sales Representatives

Homelife Romano Realty Ltd. Brokerage

Independently owned and operated

3500 Dufferin St., Suite 101, Toronto Ontario, M3K 1N2

Direct: 416-970-0352

Phone: 416-635-1232

Fax: 416-636-0246

Inbox: September 2-6, 2019

September 6, 2019 - Updated: September 13, 2019

Photo Credit: Erik Eastman

 

In The News

September 2-6, 2019

 

 

Toronto & GTA

 

Ontario first-time homebuyers are the most pessimistic in the country

B20 regulations and high prices commanding a significant down payment have given Ontarians a negative outlook on the housing market as opposed to other provinces that have experienced steeper declines in property values.

 

Toronto home sales jump 13% and prices climb 5% as demand outstrips supply

Months of inventory continues to linger around two months pushing up prices across all housing types in August from the same time last year.

 

 

Canada

 

Montreal leads in Canadian multifamily deal activity

According to Altus Group’s vice-president of product management and data solutions, Matthew Boukall, multi-family real estate accounted for nearly 16 per cent of investment activity in 2018, and it’s higher so far this year.” There has been an increase in capital from asset management groups that have both institutional and foreign capital. REITs like Minto, Centurion Apartment REIT (CEN100.CF), InterRent REIT (IIP-UN-T) and Killam Apartment REIT (KMP-UN-T) are among those leading the charge in Ontario, while the majority of transactions in Quebec are byQuebecers and several buildings in western Canada have been converted from condos to apartments because they didn’t meet sales thresholds before and during construction.

 

 

Sales of lower-priced homes give Calgary's real estate market modest boost

“Calgary's housing market continues to favour buyers as the number of sales remains close to 20 per cent below the 10-year average, according to the latest figures.”

 

Canada blows past expectations with gain of 81,100 jobs

The national unemployment rate remained at 5.7 per cent in August and wages for permanent employees increased 3.8 per cent year-over-year. Led by gains in Quebec, finance, insurance, real estate, rental and leasing also rose by 22,400 in August, “while the professional, scientific, and technical services sector experienced an increase of 16,800 jobs.”

 

 

USA

 

California rent cap measure could have limited impact

State legislators look to curb rising housing costs by capping annual rent increases to no more than five per cent plus the rate of inflation and topping out at ten per cent.

 

New Yorkers are leaving the city in droves

 

According to Bloomberg, New Jersey, New York, and Connecticut are among the top states from which people are moving. New York, for instance, is experiencing a loss of nearly 300 people per day.

 

International

 

Centre likely to announce big package for real estate

The finance minister of India “announced liquidity support” via a stress fund in order to revive stalled  and in a bode of various measures, including a stimulus package to the auto sector  a plan to merge ten public sector banks to create four big banks with the capacity to enhance credit in order to ignite the economy

 

House price surge in Sydney and Melbourne drags national index higher

Much like Canada, Australia faces high debt-to-income levels and increasing rental prices. CoreLogic’s monthly home value indexed exhibited a 0.8 per cent rise in national residential values, while Sydney’s rate of appreciation was double.

 

Dubai to curb pace of construction projects as prices fall

With over 20,000 units completed in the first half of 2019, there is a significant amount of new construction in the pipeline. Real estate values have decreased and are poised to continue to fall due to the “sheer scale of developments [that] threatens to outstrip demand.

 

Homebuyers face negative equity if no-deal Brexit hits

The Brexit deadline of October 31, 2019, is perpetrating fears that property values could tumble 6.2 per cent next year preceded by a 1.1 per cent decrease this year. Moreover, it is predicted that a no-deal Brexit could send property values falling 10 to 20 per cent.

 


Tagged with: real estate news real estate international real estate global real estate canadian real estate toronto real estate
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