anada's real estate market continues to rebound, and property investment is quickly regaining its appeal, sparking a turnaround and driving housing sales and prices from Toronto to Montreal and Vancouver. The momentum from 2009's strong finish, spurred by attractive lending rates and renewed consumer confidence, should carry over to the first half of 2010. See the following article from Property Wire for more on this.
Vancouver real estate
Vancouver, Canada
The residential real estate market in Canada is expected to remain unusually strong through the first half of this year after a robust finish to 2009, according to a new survey.
The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity to new highs, according to the report from Royal LePage, which has a network of 14,000 agents across the country. It found that property prices appreciated in late 2009, with fourth quarter averages higher than in the fourth quarter of 2008.
Thursday, January 14, 2010
Wednesday, January 13, 2010
Avison Young releases 2010 national real estate forecast for U.S., Canada
anadian real estate market fundamentals, though shaken, remain relatively intact while U.S. markets continue to shoulder the brunt of the downturn with recovery expected to be longer and drawn out
CHICAGO, Jan. 13 /PRNewswire/ - Recessionary headwinds took their toll on real estate markets on both sides of the border in 2009, with the U.S. continuing to shoulder the worst of the storm. Now several quarters into it, the Canadian real estate sector has not been entirely immune, but appears to be weathering the downturn thanks to relatively sound, though shaken, market fundamentals.
These are some of the key trends noted in Avison Young's 2010 National Forecast, released today. The annual report covers the Office, Industrial, Retail and Investment markets in 13 regions: Chicago, Washington, DC, Vancouver, Calgary, Edmonton, Regina, Winnipeg, Toronto, GTA West/Mississauga, Ottawa, Montreal, Quebec City and Halifax.
"If anyone needs to be reminded, commercial real estate is a cyclical industry," comments Mark E. Rose, Avison Young's Chair and CEO. "In our 2009 Forecast last January, we predicted one overriding theme - decision-making would grind to a halt until key metrics stabilized and new trends appeared. The dislocation in real estate lending and investing was so severe in March and April that the markets looked to be on the verge of collapse. Canada weathered the storm better than the U.S. and activity was down, but transactions were executed."
CHICAGO, Jan. 13 /PRNewswire/ - Recessionary headwinds took their toll on real estate markets on both sides of the border in 2009, with the U.S. continuing to shoulder the worst of the storm. Now several quarters into it, the Canadian real estate sector has not been entirely immune, but appears to be weathering the downturn thanks to relatively sound, though shaken, market fundamentals.
These are some of the key trends noted in Avison Young's 2010 National Forecast, released today. The annual report covers the Office, Industrial, Retail and Investment markets in 13 regions: Chicago, Washington, DC, Vancouver, Calgary, Edmonton, Regina, Winnipeg, Toronto, GTA West/Mississauga, Ottawa, Montreal, Quebec City and Halifax.
"If anyone needs to be reminded, commercial real estate is a cyclical industry," comments Mark E. Rose, Avison Young's Chair and CEO. "In our 2009 Forecast last January, we predicted one overriding theme - decision-making would grind to a halt until key metrics stabilized and new trends appeared. The dislocation in real estate lending and investing was so severe in March and April that the markets looked to be on the verge of collapse. Canada weathered the storm better than the U.S. and activity was down, but transactions were executed."
Monday, January 11, 2010
GTA housing market quickly shook off the recession
When you look at GTA housing prices and sales statistics, it's almost like there had never been a recession.
As 2009 wound down, homebuyers were partying like it was late 2007, which illustrates the V-shaped path the market followed when the recession started to bite in the fall of 2008.
The recession is generally considered to have started in October 2008. For that month, the Toronto Real Estate Board (TREB) reported that GTA sales were down 35 per cent over the same period in 2007.
Toronto average home prices were down 13 per cent over the same period in October 2007, while 905 homes prices declined about eight per cent.
As 2009 wound down, homebuyers were partying like it was late 2007, which illustrates the V-shaped path the market followed when the recession started to bite in the fall of 2008.
The recession is generally considered to have started in October 2008. For that month, the Toronto Real Estate Board (TREB) reported that GTA sales were down 35 per cent over the same period in 2007.
Toronto average home prices were down 13 per cent over the same period in October 2007, while 905 homes prices declined about eight per cent.
Saturday, January 9, 2010
http://www.lethbridgeherald.com/content/view/138368/110/
Written by Ric Swihart
Friday, 08 January 2010
While major Canadian cities showed significant increases in the real estate market in 2009, they had much further to recover after the boom times two and three years ago compared with southern Alberta, says a local official.
Audrey King, president of the Association of Lethbridge and District Realtors, said listings and sales in Lethbridge through realtors were down about two per cent through Dec. 31, 2009 from a year earlier.
Lethbridge realtors sold 1,169 homes in 2009. They also sold 250 condominiums. In the year, 1,839 homes were listed for sale.
The 2009 southern Alberta figures, which include country residential and farms, were sales of 2,355 properties with 5,304 listed in the year. That compares to 2,575 sales to Dec. 31, 2008 and listings of 6,219.
Nationally, house prices appreciated late in 2009 with the fourth quarter price average surpassing averages from the same quarter in 2008.
Friday, 08 January 2010
While major Canadian cities showed significant increases in the real estate market in 2009, they had much further to recover after the boom times two and three years ago compared with southern Alberta, says a local official.
Audrey King, president of the Association of Lethbridge and District Realtors, said listings and sales in Lethbridge through realtors were down about two per cent through Dec. 31, 2009 from a year earlier.
Lethbridge realtors sold 1,169 homes in 2009. They also sold 250 condominiums. In the year, 1,839 homes were listed for sale.
The 2009 southern Alberta figures, which include country residential and farms, were sales of 2,355 properties with 5,304 listed in the year. That compares to 2,575 sales to Dec. 31, 2008 and listings of 6,219.
Nationally, house prices appreciated late in 2009 with the fourth quarter price average surpassing averages from the same quarter in 2008.
Thursday, January 7, 2010
Vince Vaughn marries Canadian real estate agent
Sorry ladies, Vince Vaughn is off the market (and is now half-Canadian!).
Full report via Reuters:
Hollywood actor Vince Vaughn wasn't a gatecrasher at a wedding last Saturday -- he was the groom.
Vaughn married his girlfriend of two years, Kyla Weber, in a small, private ceremony outside his hometown of Chicago on Saturday, according to People magazine.
A representative for the actor, who starred in the movie "Wedding Crashers" in 2005, told the magazine that Vaughn, 39, proposed to Weber, a 31-year-old Canadian real estate agent, last Valentine's Day.
It is the first marriage for both Vaughn and Weber. Vaughn, whose film credits also include "Fred Klaus" and "Four Christmases," previously dated his co-star from "The Break-Up," actress Jennifer Aniston.
Read more: http://network.nationalpost.com/np/blogs/theampersand/archive/2010/01/05/vince-vaughn-marries-canadian-real-estate-agent.aspx#ixzz0bxv0uBIm
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Full report via Reuters:
Hollywood actor Vince Vaughn wasn't a gatecrasher at a wedding last Saturday -- he was the groom.
Vaughn married his girlfriend of two years, Kyla Weber, in a small, private ceremony outside his hometown of Chicago on Saturday, according to People magazine.
A representative for the actor, who starred in the movie "Wedding Crashers" in 2005, told the magazine that Vaughn, 39, proposed to Weber, a 31-year-old Canadian real estate agent, last Valentine's Day.
It is the first marriage for both Vaughn and Weber. Vaughn, whose film credits also include "Fred Klaus" and "Four Christmases," previously dated his co-star from "The Break-Up," actress Jennifer Aniston.
Read more: http://network.nationalpost.com/np/blogs/theampersand/archive/2010/01/05/vince-vaughn-marries-canadian-real-estate-agent.aspx#ixzz0bxv0uBIm
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Tuesday, January 5, 2010
How To Buy Real Estate In Canada
The Canadian property purchasing process closely resembles its American counterpart, with oversight and listing information provided by the Canadian Real Estate Association. Prospective buyers should factor in taxes and fees when pricing properties, including a Goods and Services Tax on new housing, Realtor and attorney charges and costs associated with land transfer and mortgage loan coverage. See the following article from International Property Journal for more on this.
buying Canada real estate
Toronto, Canada
Anyone familiar with transactions in the United States won’t have any problem navigating the Canadian system. There are few restrictions on foreign ownership and the process is full of checks to protect both buyer and seller.
In many ways the system mirrors the United States, with the Canadian Real Estate Association overseeing the licensing and ethical standards of Realtors, much like the National Association of Realtors in the U.S. CREA owns the MLS trademark and operates Realtor.ca for residential properties and ICX.CA for commercial listings, which include listings from regional boards around the country. The CREA site also includes the latest data on prices and sales.
buying Canada real estate
Toronto, Canada
Anyone familiar with transactions in the United States won’t have any problem navigating the Canadian system. There are few restrictions on foreign ownership and the process is full of checks to protect both buyer and seller.
In many ways the system mirrors the United States, with the Canadian Real Estate Association overseeing the licensing and ethical standards of Realtors, much like the National Association of Realtors in the U.S. CREA owns the MLS trademark and operates Realtor.ca for residential properties and ICX.CA for commercial listings, which include listings from regional boards around the country. The CREA site also includes the latest data on prices and sales.
Sunday, January 3, 2010
Canada Housing Resales Climbed to Record in November
By Alexandre Deslongchamps
Dec. 15 (Bloomberg) -- Canadian home resales rose to a record 46,450 units in November, as the housing market helped to pull the economy out of recession, a realtor group said.
Seasonally adjusted sales in November climbed 67 percent from a year earlier, the Canadian Real Estate Association said in a statement.
“The Canadian housing market remains on fire as the combination of low mortgage rates and still favorable buying conditions continues to spur buying activity,” Millan Mulraine, an economist with TD Securities in Toronto, said in a note to clients.
The Bank of Canada has predicted growth in housing investment will stay “brisk until early 2010,” and then slow as pent-up demand is satisfied and affordability declines. The bank lowered its benchmark lending rate to a record 0.25 percent in April to spur domestic demand and pledged to leave it there through June unless the inflation outlook changes.
Dec. 15 (Bloomberg) -- Canadian home resales rose to a record 46,450 units in November, as the housing market helped to pull the economy out of recession, a realtor group said.
Seasonally adjusted sales in November climbed 67 percent from a year earlier, the Canadian Real Estate Association said in a statement.
“The Canadian housing market remains on fire as the combination of low mortgage rates and still favorable buying conditions continues to spur buying activity,” Millan Mulraine, an economist with TD Securities in Toronto, said in a note to clients.
The Bank of Canada has predicted growth in housing investment will stay “brisk until early 2010,” and then slow as pent-up demand is satisfied and affordability declines. The bank lowered its benchmark lending rate to a record 0.25 percent in April to spur domestic demand and pledged to leave it there through June unless the inflation outlook changes.
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