As the COVID-19 pandemic rages on – more than 900,000 cases were confirmed worldwide at time of writing, with over 8,600 in Canada – brokers and their clients are staring down the barrel of at least another two weeks of strict social distancing. Waking up each day to a cocktail of rising death tolls and sinking stock prices can leave even the most dedicated mortgage professional struggling to stay...
Real Estate News
Despite the Canadian multifamily housing market seeing a measure of success in the past few months, it is a different story in Montreal, with condo sales weakness starting in 2019 to endure for at least two years. In its recent analysis, Altus Group noted that the current market context amid the COVID-19 outbreak will have very real effects upon Montreal’s multi-family segment. For Quebec, “expect...
Canada might be underestimating how much consumer prices are rising because of how it measures housing costs. MONTREAL ― Remember when house prices soared in Toronto, Vancouver and other places a few years back, causing homeowners to celebrate and prospective buyers to despair? Seems like a hard thing to miss if you’ve been in Canada in recent years, but somehow, the great housing boom...
Canada became more urban in 2019 as its census metropolitan areas or CMAs grew by close to triple the rate as the rest of the country, with temporary and permanent immigrants accounting for nearly all of the 463,000 people who joined the largest cities. The CMAs grew 1.7 per cent over the 12-month period ending mid-2019, versus 0.6-per-cent growth for the non-CMA population, according to estimates...
ear-end city housing starts statistics for 2019 recently became available from Canada Mortgage and Housing Corporation (CMHC). For the six largest cities in Canada, by population, this article will examine how last year’s results compared with other years, previous peaks and long-term averages. It will also look at the singles-versus-multiples mix. Multiple-Unit Starts Now Totally Dominate Montreal’s...
There is a big problem with the home inspection industry that many buyers don’t know about: pretty much anyone can call themselves a “home inspector” in Quebec. BRIANA TOMKINSON, SPECIAL TO THE MONTREAL GAZETTE Updated: December 6, 2019 A pre-sale inspection by a professional promises home buyers peace of mind that they aren’t moving into a money pit. But there is a big problem with the...
If you’ve been putting off buying a house in the last year or so, you now could be paying tens of thousands more for the same type of property. BRIANA TOMKINSON, SPECIAL TO THE MONTREAL GAZETTE Updated: October 14, 2019 If you’re thinking of getting into the market to buy a house, you should know: Waiting could cost you. Prices in Montreal have been rising steadily during the past few years,...
Buying your first home is one of life’s biggest decisions. It can also be one of the most stressful. Knowing what types of mortgages are available can help you make the right decision. Below we take a look at fixed- and variable-rates, and determine which option is best for first-time homebuyers. Fixed mortgage rate A fixed mortgage gives you a predetermined rate of interest for a set period of time....
Finding the best real estate agent in Montreal takes time, but picking your agent carefully will pay off in the end. Here’s how to find the best real estate Buyer Agent or Lisitng Agent in Montreal. Contact your network to find the best real estate agent Going online to find a broker is one of the best ways to go. But if you prefer a more human touch, you’d be well served to simply ask around. Ask...
Royal LePage Forecasts Healthy Price Appreciation for Luxury Real Estate in Greater Montreal Area Luxury condominium sales outpace luxury detached house sales in the GMA. The Greater Montreal Area’s luxury property market showed continued momentum in both prices and sales mirroring its healthy economy and overall real estate market. The median price of a luxury house rose 5.4 per cent to $1,680,942...