This Week in Real Estate: July 29th – August 4th

This week in real estate: A comparison of housing prices across the country, condo sales are still booming, and an analysis of the effect of the foreign buyers tax.

Here’s how real estate prices across Canada stack up.

Canadian real estate is pricey, but some markets are less affordable than others. Looking at the numbers from Canadian Real Estate Association (CREA), there’s a huge divide in the prices of homes across the country. Here’s the most expensive, as well as the most affordable, detached and condo markets in Canada. Via Better Dwelling. Click for the full article.

Housing slowdown? New condo sales are booming in Toronto.

Toronto’s resale housing market has cooled off considerably since Ontario’s move to rein in frenzied activity. Meanwhile, demand is only increasing for new condo units.

Sales of new condos in the census metropolitan area totalled 12,138 in the second quarter, up 62 per cent from a year earlier, according to data provided by BMO Nesbitt Burns. Inventory levels have more than halved over the same span. Via Globe and Mail. Click for the full article.

Canada’s cooling experiment.

One year ago, a foreign-buyers tax went into effect in Metro Vancouver. A flurry of housing reform has followed, designed to tame Canada’s frothy markets. Have the moves succeeded? Janet McFarland reports on the aftermath and what’s ahead. Via Globe and Mail. Click for the full article.

Header image via Globe and Mail.

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