GTA new home sales dipped in 2022, affected by interest rates, monetary policy
Posted: Jan 27th, 2023In: ConstructionNewsAccording to the Building Industry and Land Development Association (BILD), 2022 saw the Greater Toronto Area (GTA) experience the lowest level of new home sales since 2018. Altus Group, BILD’s official source for new home[...]
Read More about GTA new home sales dipped in 2022, affected by interest rates, monetary policyBank of Canada hikes key interest rate by quarter point, says it plans to hold
Posted: Jan 26th, 2023In: ConstructionNewsOTTAWA – The Bank of Canada delivered what it expects to be its last interest rate hike of the cycle as it pauses to assess the effects of higher rates on the economy. The central bank raised its key interest rate by a quarter of a percentage[...]
Read More about Bank of Canada hikes key interest rate by quarter point, says it plans to holdB.C. plans to streamline housing permit approval process to get more homes built
Posted: Jan 17th, 2023In: ConstructionNewsVANCOUVER — The British Columbia government is creating a single hub for developers to get provincial approval to build homes, in a bid to accelerate a housing permit process that has forced them to wait[...]
Read More about B.C. plans to streamline housing permit approval process to get more homes builtVancouver market takes ‘wait and see’ approach as Dec. sales fall 52% from year ago
Posted: Jan 7th, 2023In: ConstructionNewsGreater Vancouver ended 2022 with another month of prospective homebuyers taking a “wait and see” approach, which the region’s real estate board said pushed down sales by 52 per cent and prices three per cent[...]
Read More about Vancouver market takes ‘wait and see’ approach as Dec. sales fall 52% from year agoToronto city council approves plan to allow for greater density in residential areas
Posted: Dec 21st, 2022In: ConstructionNewsToronto city council has approved a sweeping housing plan that will significantly transform zoning bylaws in an effort to address the affordability crisis. A majority of councillors — 23 out of 26 — voted in[...]
Read More about Toronto city council approves plan to allow for greater density in residential areasToronto’s housing plan could take years to improve affordability for renters: experts
Posted: Dec 20th, 2022In: ConstructionNewsToronto’s recently approved housing plan is a good step forward but it could take years before the increase in supply makes renting more affordable in the city, urban planners and experts say. Toronto city council[...]
Read More about Toronto’s housing plan could take years to improve affordability for renters: expertsMortgage stress tests unchanged despite housing market slowdown
Posted: Dec 19th, 2022In: ConstructionNewsMortgage stress test levels were left unchanged Thursday as the federal banking regulator and Department of Finance favoured a cautious approach over calls to relax tests to help a slowing housing market. The Office of the Superintendent[...]
Read More about Mortgage stress tests unchanged despite housing market slowdownBank of Canada governor says rate hikes are working but it needs to stay the course
Posted: Dec 13th, 2022In: ConstructionNewsThe Bank of Canada expects to see a clear pullback in inflation by the spring, but it isn’t taking any chances in its efforts to get the inflation rate back to two per cent, said governor Tiff Macklem on[...]
Read More about Bank of Canada governor says rate hikes are working but it needs to stay the courseRenting increased by three times the rate of home ownership in last decade: RBC
Posted: Dec 12th, 2022In: ConstructionNewsTORONTO – Royal Bank of Canada economists say the country has reached a record number of renters as the number of people renting has increased at three times the rate of homeowners in the past[...]
Read More about Renting increased by three times the rate of home ownership in last decade: RBCFord to Crombie, mayors criticizing housing law: ‘Get on board’ and ‘stop whining’
Posted: Dec 9th, 2022In: ConstructionNewsThe mayor of Mississauga and other municipal leaders who have voiced opposition to a new provincial housing law need to “get on board” and “stop whining,” Ontario Premier Doug Ford said Wednesday in an unprompted[...]
Read More about Ford to Crombie, mayors criticizing housing law: ‘Get on board’ and ‘stop whining’