Connect with us

Buzz

4 key trends that are helping the Canadian housing market avoid disaster

Editor

Published

on







Photo: Boris Kasimov/Flickr

The Canadian housing market’s performance has been even worse than TD expected, but there are multiple reasons one of Canada’s biggest banks doesn’t predict “a further sustained deterioration” — or worse — this year.

“These [reasons] include another year of strong population growth, healthy labour market conditions and a more patient Bank of Canada,” writes Rishi Sondhi, a TD economist, in a report titled “The Winter of Discontent.”

TD goes on to chart four of the trends it expects to insulate the Canadian housing market from a worse year than 2018, which saw the biggest price drop since 1995.

Immigration drives a housing fundamental: population growth







What’s going on here: Federal Immigration levels dating back to 2013, including a forecast for this year’s total.

The takeaway: A growing population supports demand for new homes, and TD notes that the Canadian government’s immigration target for 2019 is 331,000, up from 330,000 last year. “Moreover, a significant portion of Canadian residents are in their household formation years, providing a solid foundation for demand,” writes Sondhi.

Canadian labour market to post “healthy” gains in 2019







What’s going on here: Annual employment growth presented as a percentage.

The takeaway: “Our forecast calls for over 150k jobs being added in 2019 while unemployment remains low. This should keep household incomes growing at a reasonable pace,” says Sondhi.

Toronto and BC are soft, but not all surrounding local markets are equal







What’s going on here: TD shows the sales-to-new listings ratio, which is an indicator of market strength, for Toronto and Vancouver, as well as the respective provinces they are in (minus those markets).

The takeaway: Ratios above 60 percent indicate conditions that favour sellers, and clearly a number of markets in Ontario are holding their own. “Outside of Toronto and Vancouver, an important (and perhaps overlooked) point is that markets in Ontario and B.C. are holding up much better,” Sondhi explains.

Five-year bond yields are trending lower, and that matters







What’s going on here: The yield on five-year bonds has been generally declining since late last year.

The takeaway: While the central bank’s policy rate tends to influence variable mortgages, the five-year bond yield has pull on five-year fixed-rate mortgages, the most popular option for Canadian borrowers. “Bond yields have moved significantly lower since November, which should feed through into lower mortgage rates.”

Source link

قالب وردپرس

Buzz

5 DIY Home Improvements for the COVID-19 Lockdown

Editor

Published

on

By

The global coronavirus pandemic has forced millions of people around the world, to spend more time in their homes this year than they have spent in a long time. As people sit around day after day within the confines of their home, it becomes easier to notice all the areas of the house that need some work. Fortunately, everyone can now afford the extra free time to do the home renovation project they’ve been putting off for years.

Due to the on-going global health crisis, you may not be able to hire any help for your home improvement project; this means that whatever new project you plan to do around the house, whether it’s repainting the home, or installing floor heating systems, you would have to do it yourself.

Here are some do-it-yourself that you may like to try out.

Upgrade to Smart Home Appliances

It’s 2020, what better year to embrace the future by installing a range of high-tech devices that make life extra easy. For instance, with a smart thermostat, your home’s heating and cooling system can go off on their own when not needed, keeping your electricity bills lower. Other appliances that you can make smart include your lighting, home security, music and more.

Clean out your Garage

Homeserve suggests a garage cleanout as a great home improvement project for this season because cleaning out your garage provides some fresh air, the heavy lifting provides some workout and you feel an enormous sense of accomplishment when it’s done.  What’s more, the day would be far spent by the time you’re done with this project. Cleaning out your garage would require you to sweep out any dirt or debris, and get rid of other useless items that may have been stored there for a long time.

Start a Repainting Project

There’s always room for a fresh coat of paint to make everywhere look more alive, so grab a paintbrush and add some extra character to your home. The good news is that you don’t even have to go out for the paint, you can have it shipped directly to your door. Southlandremodeling suggests that if you had 2019 palette or older in your home, now is the time to embrace the latest colour hues of 2020, that show off a more contemporary style and make your home look more sophisticated.

 Build a Patio

Now is the time where every family would enjoy having a paver patio or an outdoor deck, somewhere to sit and get some fresh air when you’re tired of being cooped up inside all day. First you have to ensure that your home has enough space for a patio and that you have enough skills to handle a hammer and other tools for simple construction.

Next you order your needed materials online and get started. There is a great sense of satisfaction that comes with being able to create an outdoor space that your family can enjoy while being stuck at home.

Install some floor heating systems

Installation of floor heating systems is one of the best home improvement projects that one can get. Many people prefer to hire professionals to do these kinds of installation but if you are up for it, it’s not impossible to do this on a DIY project and get a valuable addition to your home for about half the cost.

Finally

There is no reason to continue holding out on your dream DIY home renovation projects, especially now that you have all the time in the world due to the COVID-19 stay-at-home order. Now is the perfect time to transform your home all by yourself!

Continue Reading

Buzz

13 Montreal Apartments For Rent That Have Breathtaking Outdoor Spaces

Editor

Published

on

By

With Quebec’s moving day just around the corner, many people are starting to look for a new property to rent. And, now that Montreal real estate activity is back in action, you can start trying to find the perfect space again. And, if you ask me, an apartment that comes with outdoor space is a must when living in the city.

From balconies to shared rooftop spaces, we’re all looking for a place where we can be outdoors. 

Now, more than ever, fresh air is something that we’re all craving. And, with summer coming faster than we think, finding a place with access to the outside is on so many of our checklists. 

Luckily for you, we at MTL Blog have made your job very easy and have gone through listings throughout the city to showcase some of the best rentals, all of which have outdoor spaces. 

Some of these properties offer private balconies while others have surreal rooftops you get access to. Regardless of which one you fall in love with, you’ll be sure to have a summer to remember living in any apartment on this list. 

Get ready for moving day because after looking at these properties, you’re going to be ready to pack your belongings.

Continue Reading

Buzz

Montreal real-estate market hit hard by pandemic

Editor

Published

on

By

Like many industries affected by the COVID-19 pandemic, the red-hot Montreal real-estate market has suddenly chilled.

After 61 consecutive months of increases, the Montreal Census Metropolitan Area reported a 68-per-cent decrease in residential sales transactions in April 2020 compared with the year-earlier period, according to the Quebec Professional Association of Real Estate Brokers.

The most recent residential real-estate market statistics for the Montreal area showed 1,890 residential sales transactions were concluded last month. Those figures are based on the real-estate brokers’ Centris provincial database.

Montreal has been hit harder than other Canadian cities by the pandemic, and the drop in sales was seen in all six main areas of the Montreal CMA.

The drop in sales applied to all three property categories. Single-family home sales fell 68 per cent (1,048 transactions): plex sales dropped 67 per cent (161 transactions); and condominium sales tumbled 69 per cent (675 transactions).

Despite the drop in sales, real-estate prices rose in the CMA. The median price of single-family homes increased by nine per cent to reach $360,000, while the median price of condominiums climbed 12 per cent to $289,900.

Compared with April 2019, the median price of plexes (two to five dwellings) increased 10 per cent to $595,000.

Continue Reading

Chat

Trending