Canadian Real Estate News Headlines (June 5th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Where to buy real estate in 2019: Greater Toronto Area (GTA)
In the Greater Toronto Area, smaller communities like Angus, Ont., came out on top.
Until a few years ago, most home buyers would’ve searched high and low just to find the city of Angus on an Ontario map. (Hint: It’s 90 kilometers north of Toronto.) Unless that is, you’re in the army. Turns out the 22,300-acre Canadian Armed Forces facility, CFB Borden, is immediately southwest of Angus. Originally an airforce base, CFB Borden is now the largest training facility for our nation’s armed forces.
In this part of Simcoe County, the army makes for good business. But what really helped push Angus, Ont. to the top of the Where to Buy Real Estate 2019 report for the GTA is the real estate boom.
Toronto Ranked #1 For 'Population Growth' In North America
If you live in Toronto, you probably already know that our population is expanding beyond what the city can currently support. Despite new investments in infrastructure, the city still struggles to keep up. To make matters worse, Toronto's population is growing faster than anywhere else in North America.
According to a new study published just this week from Ryerson University's Centre for Urban Research and Land Development, Toronto is the fastest-growing city in both Canada and the United States.
Montreal aims to find affordable-housing fix that has eluded Toronto, Vancouver
As Toronto and Vancouver struggle to keep housing affordable for anyone but the wealthy, Montreal says its new, first-on-the-continent development model will help it succeed where other big cities have failed.
Montreal led big Canadian cities in 2018 with economic growth of almost 3 per cent, while its real estate market outperformed Toronto and Vancouver's for the first time since 1998.
As home prices continue to climb, the city is getting ready to table a bylaw this month requiring condo developers to build a certain number of off-market units for every shiny new residential tower they want to erect.
The city promised the new rules will be flexible enough so as to not stymie the building boom, but developers are worried Mayor Valerie Plante's administration will make future projects unprofitable.
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