Nearly 7 in 10 Atlantic Canadian millennials surveyed for Royal LePage agreed with the statement “I believe I will be able to purchase a home in the next five years,” compared to 57 per cent nationwide.
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 helped improve affordability, the province's new housing minister says.
Home sales in June posted their largest monthly drop in seven years, driven by a plunge in the Greater Toronto market, the Canadian Real Estate Association said Monday, the latest evidence that a cool-down in the housing sector is taking hold.
The Bank of Canada's interest rate hike could prolong the cooling-off period the Toronto housing market is experiencing following the implementation of a provincial foreign buyer tax, a prominent economist said Wednesday.
The fall in average peak price in the GTA in June is an even more startling indication of a cooling market than the 37.3 per cent drop in the month’s home sales over last year, says a Toronto real estate broker.