Three Real Estate Stories in the News for Saturday, January 6th 2018

Foreign buyers ‘dominate’ high-end house sales in Vancouver

The Shaughnessy neighbourhood of Vancouver has the most expensive houses in Canada, according to a national survey by New York City-based Engel & Völkers, a real estate agency that has offices in major Canadian cities. The survey also found the most expensive resale condominiums in Metro Vancouver now average $1,800 per square foot. 

The survey maintains that foreign buyers remain a dominant force in Vancouver’s high-end housing sales, though a recent survey by Statistics Canada found that foreign ownership in Metro Vancouver now represents less than 5% of all residential sales and 7.9% of condo purchases.

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This is the most excited Canadians have been about real estate since 2009

With a new mortgage stress test finally here and interest rate hikes on the horizon, industry experts are predicting a slow start to the year for the Canadian housing market.

But Canadians don’t seem to have gotten the memo — in fact, they haven’t been this excited about the real estate market since the Great Recession.

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Price of houses for sale in Cornwall to increase 2 percent in 2018

The average sale price for housing in Cornwall is expected to increase two percent this year, according to the 2018 Housing Market Outlook Report. Check here for more details. 

Picture: Sam Beasley

Leaside & Bennington Heights Sales Statistics for December 2017

Davisville Village Home Sales Statistics for December 2017

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Jethro Seymour, Toronto Real Estate Broker.  Search Toronto's live MLS listing here.