TORONTO - The Globe and Mail is reporting that Ottawa is preparing to close a tax loophole that's been used by foreign buyers in overheated housing markets such as Vancouver and Toronto. The Globe says the Trudeau government plans to tackle apparent abuse of a long-standing exemption that allows non-residents to buy homes and later claim a tax exemption on the sales of those properties. That exemption will reportedly now only be available to those who reside in Canada in the year... [read more]

  The Canadian... [read more]

  Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 22,350 units in August 2016, an increase of 17.2 per cent from a year earlier. This was the highest August sales figure on record, smashing the old record set back in 2017 by 16.6 per cent. Nationally, home sales activity rose 10.2 per cent from year-ago levels in August 2016, boosted most by the year-over-year increase in Greater Toronto. Provincial... [read more]

HOME PRICES UP 2.3% IN JUNE In June, the Teranet–National Bank National Composite House Price Index™ was up 2.3% from the previous month, the largest June increase since the Index began in 1999. Prices were up in 10 of the 11 metropolitan markets surveyed. Gains exceeded that of the countrywide index in six markets: Victoria (4.4%), Halifax (3.7%), Toronto (3.3%), Vancouver (2.6%), Ottawa-Gatineau (2.6%) and Hamilton (2.4%). Though less than the countrywide... [read more]

Click to View the full Georgina Real Estate Market Report  A collective sigh of relief can be heard among homebuyers everywhere – the bidding wars have slowed down in Georgina, but have not disappeared entirely. We measure bidding wars and multiple-offer situations by looking at the sale to list price ratio in each area. The average sale to list price ratio was 98% in Georgina this month, down from 104% at the peak of the spring market. Keswick South and Keswick North seem to be... [read more]