Toronto Real Estate

As analysts have increasingly speculated or expected in recent weeks, the Bank of Canada lowered the benchmark overnight rate target by half a percentage point, from 3.5% to 3.0%.Driving the rate cut announcement, the central bank cited the weakening global enconomy, the sharp slowdown in the U.S...

Mid-month figures have been released and the numbers point to another consecutive month decline in the Greater Toronto Area -- and this time, the weather can't be blamed.  First, the bad news:Overall, the GTA saw a 5% decline over the same period in April 2007.The 416 (Toronto) saw an 11% decline...

In February, new housing prices continued to increase but at a slower pace from the previous two months.  Nationally, the index was up 6.2% over February 2007 with higher material costs, labour shortages (thus, higher labour rates), and land development costs cited as factors. In Ontario, the yea...

For the first quarter of 2008, Ontario posted a 3.1% quarterly gain in non-residential construction (2nd only to Alberta) with investment rising to $3.8B.  Toronto and Hamilton led municipalities in investment growth (by dollar value) at $1.9B and $166M, respectively.  Investment in terms of comp...

Building permits (a dollar value measure of construction intention) was a mixed bag in Ontario for Feburary.  While "net" building permits saw a 16% decline from January's numbers, this statistic is comprised of:residential building permits up 21.3%non-residential building permits down 44.9%Natio...

Well, the numbers are in and at first glance, it looks gloomy.  The Toronto Real Estate Board (TREB) reports that resale activity is down 22% (versus March 2007) in the GTA:  -27% in Toronto, -18% in the surrounding "905".But let's frame this in the right context.  Bad weather (resulting in inven...