Tag: Canadian

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Cottage owners share the pros and cons of ownership and the Home of the Week: Canadian real estate news for May 25

Cottage owners share the pros and cons of ownership and the Home of the Week: Canadian real estate news for May 25
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Home of the Week, 145059 16th Side Road, Meaford, Ont.elevatedphotos.ca

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

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Owning a cottage isn’t what it used to be: Canadians share the financial pros and cons of ownership

The state of Canadian cottage ownership is changing. For people already financially stretched on their primary properties, buying or maintaining a cottage is further out of reach than ever before, write Irene Galea and Salmaan Farooqui. That pressure has led many to see their cottages in a new light: a potential source of revenue, a liability or even a full-time home. Today, cottagers and the communities they inhabit are still reeling from the aftermath of years of change, from the pandemic to increasing housing prices. But there have

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Canadian housing sales slump as spring blooms

Canadian housing sales slump as spring blooms

Buyers now find themselves in a favourable position

Published May 21, 2024  •  Last updated 1 day ago  •  4 minute read

A house for sale in Toronto, Ont. Photo by Evan Buhler/The Canadian Press files

By Murtaza Haider and Stephen Moranis

Like the famous cherry blossom trees in Toronto’s High Park, the Canadian housing market tends to bloom in the spring, reaching its peak in late April and early May. This year, however, while the cherry blossoms bloomed on schedule, the housing market remained sluggish, awaiting the warmth of an economic recovery. An anticipated interest rate cut in June could potentially provide the boost it needs.

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Toronto Startup Keypr is Transforming Canadian Real Estate and Saving Buyers up to 80% on Commission Fees

Toronto Startup Keypr is Transforming Canadian Real Estate and Saving Buyers up to 80% on Commission Fees

TORONTO, May 6, 2024 /CNW/ – Canadians can now save thousands of dollars in realtor commission fees thanks to Toronto startup, Keypr. The cutting-edge real estate technology company has officially launched and is on a mission to empower homeowners and reduce costs by refunding 80% of buy-side operating commissions.

The all-in-one real estate platform streamlines everything from property bidding to closing documents while saving buyers thousands in commissions.

How it Works

Keypr makes buying a new home easy. From booking showings to drafting an offer, buyers can manage the entire process of buying their home all through Keypr. Although Keypr provides home buyers with independence, a licensed team of sales representatives are available to offer hands-on support and guidance if needed and will be there to consult and review properties, market comps, data and diligence items.

The Keypr platform even connects buyers with partners in-app from inspectors to lawyers,

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Canadian city enters real estate reality TV genre

Canadian city enters real estate reality TV genre

Following in the footsteps of famed reality TV real estate shows, like Million Dollar Listing, Selling Sunset and Buying Beverly Hills, Toronto has entered the genre with Luxe Listings Toronto (now on Prime Video). The show, starring Peter Torkan, Paige Torkan and Brett Starke, takes us inside luxury homes, ranging from condos in downtown Toronto, to houses in the city’s Bridal Path neighbourhood and in Oakville, Ont.

“We did not want to become famous, our intention was to showcase Toronto to the world, the real estate, how beautiful this city is,” Peter told Yahoo Canada. “How can we serve other people in our team? How can we elevate them? How can we help them to take their business to the next level? So it wasn’t about us whatsoever.”

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Watch Luxe Listings Toronto on Prime Video with a 30-day free trail, then $9.99/month

$10 at

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Canadian Real Estate Prices Climbed Faster Than Mortgage Payments

Canadian Real Estate Prices Climbed Faster Than Mortgage Payments

Canadian mortgage payments went from virtually nothing to the highest level in well over a decade, inflicting pain on mortgage borrowers. However, the value of homes also surged. In fact, from the rate cuts that sent home prices surging in March 2020 to the end of 2023, the growth rate of home prices outpaced the increase in the average mortgage payment on file at Equifax. This was true in most of Canada’s largest cities, especially in Eastern Canada where the average household’s payment significantly lagged home price growth. 

Canadian Home Values Climbed Faster Than Mortgage Payments

The price of a home generally rose faster than mortgage payments across Canada. The average payment on Equifax credit files was $1,685 per month as of Q4 2023. Since Q1 2020, the average payment has climbed a mind-blowing 27.7%. 

In contrast, the price of a typical home climbed 28.5% over the same period—about 0.8

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