Real Estate News Headlines (January 12th 2017)

Jethro Seymour

Published in

Real Estate News

3 min readJan 12, 2017

Hello everyone. I provide you with Canada’s news headlines for real estate news for today.

Canada housing starts surge, permits edge down

According to The Globe and Mail,

Canadian housing starts rose more sharply than expected in December and November building permits were also firmer than anticipated, separate reports showed on Tuesday, suggesting Canada’s long housing boom may not be over.
Housing starts surged 10.6 per cent in the final month of the year, well past already rosy expectations, as builders broke ground on both single detached homes and multiple unit condos and apartments in urban areas, the Canada Mortgage and Housing Corp said.

The detail is here.

‘Bank of mom and dad’ has growing hand in real estate market thanks to first-time buyers: report

According to Financial Post,

A new survey released Tuesday found first-time buyers are getting help from “the bank of mom and dad” — a theme the head of one of Canada’s largest real estate companies says he continues to hear in the marketplace.

The detail is here.

A Canadian housing crash coming? Not according to this economist

According to Buzz Buzz News Canada,

Oren Klachkin, a senior economist with Oxford Economics, says new mortgage rules “will cool but not crash” Canadian real estate this year. Ditto for expected higher interest rates and BC’s foreign-buyer tax applied to the Greater Vancouver Area.

The detail is here.

Victoria real estate prices to continue rising amid property shortage

According to Toronto Star,

While Vancouver saw a steep drop in property transactions following the introduction of a new tax on foreign buyers, available real estate in Victoria remains a rare commodity.

The detail is here.