Real-estate players spent a record $4.9-billion buying and investing in commercial property in the Greater Toronto Area in the latest quarter, but some are questioning whether this is the peak.
The total investment in office towers, industrial complexes and shopping centres from April to June was $1-billion higher than the previous high-water mark of $3.9-billion, which occurred in the fourth quarter of 2006, according to data from real-estate research firm RealNet Canada Inc. The latest quarterly level was a whopping 74 per cent higher than a year ago and 75 per cent higher than the prior quarter.
Short supply of detached Toronto homes for sale in June push up prices
TORONTO - Re/Max says a shortage of detached houses on sale in Toronto last month has resulted in stiff competition among buyers and higher selling prices.
The real-estate sales organization found 46 per cent of detached homes that sold between $400,000 and $1 million in June were sold above the listing price.
The average price for single detached homes in Don Mills, Parkwoods-Donalda, and Victoria Village rose to $1.1 million in the first six months of 2013, a report by Remax Ontario-Atlantic Canada Inc. shows.
Worries of correction persist in Toronto's condo alley
Sandwiched between two rail lines in Toronto`s core, great factories once produced the finest Canada could offer the world: Magic baking powder, Brunswick bowling alley flooring and Massey Ferguson farm equipment.
Those factories and many others here have been long abandoned or demolished, but the area is bustling. It is now called Liberty Village and it is packed with high-rise condominiums, largely built over the last five years, with many more still under construction.
Plans are on the rise among homeowners in Toronto to buy a condo within the next five years, according to a recently released BMO Condo Buying Report, while buyers in Montreal and Vancouver may be reconsidering the prospects of high-rise living.
"Our department has done an analysis on the Canadian housing market and we're anticipating that it's calming, it's not crashing," says Frances Hinojosa, a mortgage expert with BMO Bank of Montreal.
The Line 9B project is an important Canadian infrastructure project that has the support of residents and businesses in the Hamilton region. As the Chief Operating Officer of a local company that provides work-ready crews for infrastructure projects across Canada, I will be submitting a letter to the National Energy Board outlining the reasons why the Line 9B reversal project needs to move forward.
We need projects like Line 9B that will generate good-paying jobs that help put food on families' dinner tables. This is especially important in our region where too many manufacturing workers and tradespeople have been laid off in recent years.
