Real Estate Update

 

March 26, 2018

 

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Lakeview lands sold to developers for $275 million

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Toronto Star
The Lakeview lands in Mississauga have officially been sold to developers for $275 million in the latest step toward the transformation of the city's waterfront. The 177-acre site, formerly a provincial coal-fired generating station, will be transformed into a sustainable, mixed-use residential community by Lakeview Community Partners, a consortium that includes Argo Development, TACC Construction, Branthaven Homes, Greenpark Group and CCI Development Group, according to a press release from provincial agency, Ontario Power Generation (OPG). Sixty-seven acres of land will be remediated and transferred to the city of Mississauga as part of the deal.  READ MORE

City of Mississauga buying up homes for 'Central Park' project

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Mississauga.com
Coun. Nando Iannicca's vision to build Mississauga's own version of "Central Park" in Cooksville is inching closer to reality. The City of Mississauga has purchased three properties in the targeted area, east of Hurontario Street, between Dundas and the Queensway. Acquisition of the properties is the start of a lengthy process that will allow the city to create an additional 25 acres of green space in the densely populated core.  READ MORE

TREB: Housing policies can, and will, affect the economy

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Mortgage Broker News
Housing policies can, and will, affect the economy – TREB The impact of housing policies on sales activity will make itself felt upon the economy, according to the Toronto Real Estate Board Earlier this week, TREB announced the results of its latest study that culled consumer polling data from Ipsos Public Affairs and findings from a recent economic impact analysis completed by Altus Group. The release of the study came in the wake of a successful Toronto Summit and release of TREB's third annual "Market Year in Review & Outlook Report" at the end of January.  READ MORE

Toronto condo developers aim to attract families with multibedroom units

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Globe and Mail
Toronto's high-rise condo developers are increasingly realizing they can play a role in meeting the needs of buyers looking for "missing middle" housing – and are starting to plan buildings that are no longer dominated by one-bedroom or studio units. In recent decades, city planners have urged developers to set aside only 10 per cent of a building's units for multibedroom uses and it wasn't uncommon to see buildings sprout up in the core consisting almost entirely of studio or one-bedroom units. A 2017 study by Ryerson University and Urbanation Inc. found only 41 per cent of 105,000 condos in the planning-construction pipeline were two-bedrooms or larger.  READ MORE

Excavation growing at Mississauga site of Daniels' Wesley Tower

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Urban Toronto
Since December, excavation has been ongoing at the construction site of Wesley Tower at Daniels City Centre, a new 19 and 43-storey, Rafael Bigauskas Architects-designed condominium complex coming to the City Centre Drive and Confederation Parkway intersection to the west of Square One in Mississauga. The two towers will share an underground garage and podium, with the taller tower being built as the first phase, and marketing yet to begin for phase two.  READ MORE

Sale prices down again in Canadian housing market

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Insauga.com
Home sales via Canadian MLS systems were down 6.5 per cent in February. It marks the second consecutive monthly decline following the record set in December 2017 and the lowest reading in nearly five years. February sales were down from the previous month in almost three-quarters of all local housing markets, with large monthly declines in and around Greater Vancouver (GVA) and Greater Toronto (GTA).  READ MORE

Milton's rapid growth lays ground for highrise development

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Toronto Star
When Jess and Adam Lee brought their newborn daughter, Olivia — six pounds, seven ounces — home this month from the new Milton District Hospital, they were thrilled with the calibre of care they received in their adopted community. Jess was relieved to find she liked the obstetrician who worked out of the hospital, where 89 babies were born in December and another 79 delivered in January. The number of births has been steadily increasing over the past decade as Milton’s population has grown, according to Halton Healthcare.  READ MORE

Higher-end home sales in GTA tumble 55 per cent

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Globe and Mail
Sales of properties fetching at least $1-million in the Greater Toronto Area have plunged while the Vancouver housing market girds for a slowdown following last month's B.C. budget. The number of GTA residential properties that sold for $1-million or more in the first two months of this year – mostly detached houses, but also including condos and townhomes – fell to 1,498, down 55 per cent from the same period in 2017, according to Sotheby's International Realty Canada.  READ MORE
 

 

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February 26, 2018

 

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The future of real estate tech: How we got here and what's next in an exploding new ecosystem

 

Forbes
In 2017, venture investors deployed over $5 billion in real estate technology, more than 150 times the $33 million invested in 2010. Once a sector seemingly ignored by the venture industry, real estate tech has come front and center, notably producing two of the three most valuable startups in the United States, WeWork and Airbnb.  READ MORE

What does $300,000 get you in Mississauga compared to other cities?

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Insauga
We all know that Mississauga real estate doesn't come cheap and that affordable homes are, for the most part, few and far between. All that said, it's often interesting — and enlightening — to see how local accommodations stack up against national ones.  READ MORE

New warranty coverage for Ontario condo conversions

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REM
Condominiums that in their previous lives were used as warehouses, other types of industrial structures, churches, jails or orphanages have been given a new lease on life in recent years when they were converted into condominiums. In the construction industry they are referred to as residential condominium conversion projects or RCCPs.  READ MORE

Teranet: Toronto real estate prices stop declining, 'entirely due to condos'

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Better Dwelling
Toronto real estate finally stops hemorrhaging... kind of. The Teranet — National Bank of Canada (NBC) home price index update shows Toronto prices have stopped declining. Great, the Home Price Index (HPI) declines are over! Not exactly. Toronto's HPI saw an increase due solely to soaring condo prices, while other segments continued to drop.  READ MORE

Reputation is everything... Or is it?

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REM
Real estate agents, like other professional service providers, understand that the recipe for success depends on the three Rs: Reputation, Referrals and Relevance. Your reputation is critical and leads to strong referrals if your service and approach are relevant to what the client needs. But are reputation, referrals and relevance enough?  READ MORE

New report indicates Mississauga is at risk of housing bubble

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Insauga
Mississauga's real estate market, heavily tied to Toronto's due to proximity, has been a fascinating one to watch over the past year — and it doesn't look like things are getting any less exciting (or concerning, depending on your perspective and general anxiety level). Although government-initiated policies (the province's Fair Housing Plan and the OSFI stress test) have cooled the market and helped bring it back into balance, a recent Visual Capitalist report indicates that Toronto — and presumably by extension, Mississauga and other GTA cities — is still considered at risk of a housing bubble.  READ MORE

CMHC: Gap between housing supply and demand largest in Toronto and Vancouver

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CBC News
Toronto and Vancouver's real estate markets have responded to surging prices and a growing demand for homes with a supply of new housing that is "significantly weaker than other Canadian metropolitan areas." The disparity between supply and demand has been largest in the two cities, but "we do not fully know why this is the case," said the Canadian Mortgage and Housing Corporation, in a report it released recently on escalating house prices in the country's large metropolitan centres between 2010 and 2016.  READ MORE

What can $500,000 get you in Toronto's property market? A one-bedroom condo half the size of a badminton court

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Financial Post
A half a million dollars bought half as much space in Toronto's condominium market as in other Canadian cities in 2017. And in Vancouver, it bought nothing at all, with analysts unable to find any new condominiums at or below the $500,000 mark, according to a study of 2017 sales data by the Altus Group.  READ MORE
 

 

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Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

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February 12, 2018

 

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Average real estate price in Mississauga falls $167,000 in 10 months

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Mississauga News
The average price for all types of real estate in Mississauga has fallen back to levels not seen since the summer of 2016. According to the latest monthly tracking data from the Toronto Real Estate Board (TREB), the average selling price for all types of dwellings came in at $631,372 in January 2018.  READ MORE

Ontario real estate agents seek increased transparency in home sales

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Globe and Mail
The group representing Ontario's real estate agents is considering urging the provincial government to allow a transparent bidding process for home sales as part of several proposals to improve the industry's ethics and reputation. The Ontario Real Estate Association (OREA), which recently issued a discussion paper seeking input from its members, has been promoting higher standards in light of concerns raised about unscrupulous practices in the province's overheated real estate market in recent years.  READ MORE

Post B-20: Why real estate agents are more important than ever

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REM
The new year is upon us, and with it, a whole new real estate reality. Tougher federal mortgage regulations took full effect on Jan. 1, slashing affordability for new borrowers and contributing to slower selling conditions than the record-breaking activity experienced throughout 2017 in Canada's largest markets.  READ MORE

Canadian real estate prices see biggest drop worldwide

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Maclean's
Canada's housing market was the fastest rising in the world, just a few months ago. Now we're claiming the opposite title.  READ MORE

20 per cent more mortgages are being denied by big banks, sending borrowers down the credit ladder

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Financial Post
Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada's banking regulator imposed a new stress test for home buyers who don't need mortgage insurance. As a result, alternative lenders are seeing an uptick in business as brokers increasingly direct home buyers toward borrowing options that are beyond the reach of the Office of the Superintendent of Financial Institutions' newly enacted tighter lending requirements.  READ MORE

Landlords smell high-rise problem looming as marijuana legalization nears

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Globe and Mail
Smoking pot smells. Whether you like the odour or hate it, few think it's not a strong smell. As legalization rapidly approaches in Canada, landlords and tenants are grappling with whether an apartment building can be declared marijuana-smoke-free, whether a disobedient smoker could be evicted and whether a blanket provincial ban on cannabis smoke at home might be the only way to stop it.  READ MORE

Here are the best places to spend your digital marketing dollars

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REM
Every real estate professional wants the biggest bang for their marketing bucks. But how do you make that happen? It depends largely on your marketing budget. An approach for top producers and teams is different than a single agent because you're playing in different arenas. Marketing budgets for high-volume agents and teams typically need to be done case-by-case (varying with the size of budget, goals, existing branding and ideal lead volume) but for the average agent it's easier to access.  READ MORE
 

 

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Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

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January 15, 2018

 

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Here's a look at Mississauga's hottest neighbourhoods

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Insauga
It's no secret that it's expensive to live in Mississauga. Recent data released by the Toronto Real Estate Board (TREB) indicates that, as of December 2017, detached houses were running buyers approximately $910,216 (up from the high 800s in November and down from the $1 million mark they hit in winter 2017). And while the market could cool or stabilize in 2018 due to the Ontario government's Fair Housing Plan and the OSFI stress test (a test that some say could disqualify up to 10 per cent of prospective buyers from the market), the fact remains that Mississauga is a desirable city to call home — and therefore a costly one.  READ MORE

Success is how, not what

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REM
Thomas Edison is acknowledged to be the inventor of the light bulb. The truth is that there were about a dozen or more scientists who invented various versions of the light bulb before him. Edison was a brilliant and clever fellow, but his real genius was to pull together all the fundamentals that had been developed previously and come up with a good light bulb that could function the most reliably and be mass produced for the time.  READ MORE

Here are answers to 4 key real estate issues in 2017

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Toronto Star
As the year draws to a close, I can think of four key issues that occupied a lot of our attention at the Real Estate Council of Ontario: entry fees, backing out of a deal, lowball offers and multiple representation.  READ MORE

Canadian real estate market outlook 2018

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MoneySense
There's never a dull day in real estate. Last year started off with a big nervous question: Will the Canadian housing market crash? In 2018, the new year started off with more of a sigh. Analysts across North America came out with various pronouncements of deceleration in activity and pricing, but the overwhelming consensus was that the nation's real estate landscape would flatten out, even in the hot Toronto and Vancouver markets.  READ MORE

Opinion: Why most sales reps can't conduct double-enders equitably or ethically

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REM
Why can't most sales reps be trusted to conduct double-enders equitably or ethically? Here is the short answer: it simply is not in their collective nature to do so.  READ MORE

House prices are rising again in Mississauga

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Insauga
After a few months of small but steady month over month decreases in low-rise home prices, the market appears to be showing signs of strengthening. According to data recently released by the Toronto Real Estate Board (TREB), houses prices in the 905 increased slightly in December while sales remained down compared to 2016.  READ MORE

Mortgage 'stress test' brings winter real-estate spike

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CBC News
Instead of a winter slowdown, many Ottawa real-estate agents experienced a sales spike over the past two months as homebuyers rushed to seal deals ahead of new mortgage rules that kick in Jan. 1. The new rule puts a mortgage "stress test" on uninsured homebuyers putting more than a 20 per cent down payment on their next home. This stress test assures banks that borrowers would be able to make their mortgage payments if interest rates climb.  READ MORE

 


Real Estate Update



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Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988