Five Real Estate Stories in the News for Friday, June 16th 2017

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

UK and Canada are great luxury buying opportunities, says Christie’s Real Estate chief

According to CNBC,

Despite tumbling transaction levels and ongoing political uncertainty sending tremors through the prime central London (PCL) property markets, the U.K. is still a compelling place to invest, says the head of Christie’s International Real Estate.

The detail is here.

Home sales across Canada register biggest monthly decline in nearly 5 years

According to CTV News,

Home sales across the country dropped sharply last month, driven by a plunge in the Greater Toronto Area (GTA) after the Ontario government imposed a tax on foreign buyers aimed at cooling the red-hot market.
The number of residential properties sold nationwide fell by 6.2 per cent in May compared to April, the largest month-to-month decline in nearly five years, the Canadian Real Estate Association said Thursday. The industry group, which represents real estate agents, brokers and salespeople in Canada, noted sales were down a whopping 25.3 per cent month-over-month in the GTA.

The detail is here.

If You Own Toronto Real Estate, This Might Be Your ‘Scariest Chart Ever’

According to an article on Huffington Post Canada,

If you followed the financial drama of 2008–09, you might remember “the scariest chart ever” — a graphic comparing U.S. jobs losses during the crisis to those in previous downturns. The ‘08-’09 crisis was by far the worst since the Great Depression.
That “scariest chart” is now history as the U.S. has regained all those job losses. But Capital Economics has published a new one that might just might deserve that same name — if you’re a real estate owner in Greater Toronto.

The detail is here.

Canadians owe $1.67 for every $1 of household disposable income, StatsCan says

According to CBC News,

Canadians owed $1.67 in consumer credit, mortgages and non-mortgage loans for every dollar of household disposable income in the first quarter of 2017, a slight quarterly decrease as household net worth rose from the end of 2016.

The detail is here.

Vancouver home prices may have finally shaken off foreign buyers’ tax: index

According to Global News,

It’s taken nine months, but the Vancouver housing market may have finally shaken off the foreign buyers tax, data from a home price index suggested on Wednesday.
The Teranet-National Bank of Canada House Price Index showed that Vancouver home prices grew by 8.2 per cent year-over-year in May, and 1.46 per cent month-over-month.

The detail is here.


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Canadian Real Estate Headlines from Jethro Seymour, one of the Top Toronto Real Estate Brokers
Canadian Real Estate Headlines from Jethro Seymour, one of the Top Toronto Real Estate Brokers