Hello everyone. I provide you with Canada’s news headlines for real estate news for today.
Real estate outlook could be bright spot as Canadian banks roll out year-end earnings
According to Financial Post,
As investors adjust to the impact of low oil prices on the loan books of Canada’s banks, sector-watchers are beginning to look at the housing market and heavily leveraged consumers as the next potential areas of concern for the country’s biggest lenders.
But as the Big Six begin rolling out year-end earnings on Tuesday, kicked off by Bank of Nova Scotia, at least one analyst sees residential real estate as a potential bright spot.
The detail is here.
The CRA is cracking down on real estate tax dodgers in Canada’s red hot market
According to Financial Post,
Evidence of the ongoing crackdown by the tax authorities on Canada’s red hot residential real estate sector is everywhere, from recently updated statistics that show increased real estate audit activities, to new rules governing the sale and reporting of your principal residence and even some recent tax cases.
The detail is here.
Canada’s vacancy rate rises; Vancouver, Toronto rentals still hot
According to The Globe and Mail,
Canada’s rental vacancy rate edged up in 2016 as the supply of apartments increased, but rental housing was harder to find in Vancouver and Toronto, where a long housing boom has driven real estate investment and a condo building boom.
Canada’s vacancy rate increased to 3.4 per cent in October from 3.3 per cent a year earlier, as the number of new units hitting the market outpaced the rise in occupancy, the Canada Mortgage and Housing Corp said on Monday.
The detail is here.
Neighborhood News
Here are the local neighborhood news:
- November Community Corner is here!
- Changes to Ontario’s Land Transfer Tax Rates
- Davisville Village Sales Statistics – October 2016
- Leaside & Bennington Heights Sales Statistics – October 2016
Jethro Seymour, Mid-town Toronto Real Estate Broker
Also published on Medium.
