| Real Estate News

The latest headlines in Toronto and Canadian real estate from September 9th to September 15th.

This week’s recap:


Student wins design award for a condo that grows with your family.

A Toronto student has come up with a novel solution for growing families looking to jump into the Toronto real estate market — condo units that can be divided into smaller rental apartments until the owner decides they need the space back.

University of Toronto architecture student Yupin Li’s building design, called “Flex,” won an award of excellence on Wednesday evening at the 2017 Toronto Urban Design awards, which honoured well-known buildings as well as prospective designs.

View the full article on CBC News here.


Cityplace finally getting schools and community centre.

The densely built-up Concord CityPlace neighbourhood in Downtown Toronto is finally getting two schools, a child care centre, and a community centre, as sod was turned at the site this morning by Mayor John Tory, other City Councillors, and by officials of the Toronto District School Board (TDSB) and the Toronto Catholic District School Board (TCDSB). A long time in the planning, the combined facility designed by ZAS Architects at the southwest corner of Fort York Boulevard and Brunel Court will be known as the Canoe Landing Centre after the park which will flow into it on its west side.

View the full article on Urban Toronto here.


Toronto prices seen stabilizing as key housing ratio balances

The ratio of Toronto house listings compared with monthly sales has moved back into long-term balance, limiting the potential for significant further price corrections in the region, a new analysis concludes.

A report by National Bank of Canada economist Marc Pinsonneault said the ratio of listings to sales in the Toronto area hit 2.5 months in August, which means it would take 2.5 months to sell all houses listed in the region at the pace of sales recorded last month. That’s a significant change from earlier this year.

View the full article on Globe and Mail here.


Toronto’s condo boom persists, even as house prices cool.

Canada’s condo boom continues to surprise, with groundbreaking in Toronto still going strong even as prices of detached homes in Canada’s largest city slump, but recent rate hikes and rent controls are likely to cool condo prices by 2018.

While many predicted the brisk construction of high rise homes in Toronto would cause a glut and eventual crash, the condo market has emerged as the stalwart survivor as a long-awaited broad housing market correction grips the city.

View the full article on BNN here.


Are you thinking of moving but not sure where to start? Do you have real estate questions and need answers? Call us at #416-291-7372 or email us at hello@christinecowern.com anytime. We’d love to help!

Header image via The Globe and Mail.

Comments

  1. Hi Christine, Thanks for the interesting articles. I was wondering what you thought of student housing and whether it’s a factor in condo prices? How many buyers are purchasing for their echo boom kids? Just wondering if you had some insight there. Thanks!

    • Christine Cowern says:

      Hi Gord, it’s our pleasure, I’m glad that you’re enjoying the site. We’re seeing a definite increase in parents buying condo units for their kids to live in while going to school. Many of these units later turn into investment properties. The more demand there is for this type of housing the higher the increase in prices overall. Any other questions, feel free to reach out!

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