Hello, everyone.
I provide you with Canada’s news headlines for real estate news for today.
Lack of supply real problem in the housing market
According to Toronto Sun,
According to a recent announcement from Queen’s Park, 4.7% of properties purchased in Ontario’s Greater Golden Horseshoe area between April 24 and May 26 were acquired by foreign individuals or corporations.
This in the wake of the raft of housing measures Premier Kathleen Wynne’s government announced in April, including a 15% “Non-Resident Speculation Tax”, ostensibly aimed at improving housing affordability.
The detail is here.
Canadian economy’s addiction to real estate fees is ‘stunning,’ says analyst
According to CBC News,
Canada’s addiction to real estate goes far beyond our obsession with talking about it. Our economy actually relies more on the fees associated with buying and selling houses than it does on agriculture, fishing, forestry and hunting combined.
Real estate commissions, land transfer taxes, legal costs and fees for inspecting and surveying homes make up almost two per cent of Canada’s economy.
The detail is here.
Foreign buyers’ tax and other measures under review, B.C. housing minister says
According to National Post,
The British Columbia government is reviewing the foreign buyers’ tax in the Vancouver area and the interest-free loan program to first-time homebuyers to determine whether they have been effective in improving affordability, the province’s new housing minister says.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Davisville Real Estate Listings? Contact Me!
Also published on Medium.
