It’s the September long weekend and the Livabl team is out of the office trying to squeeze the last few warm days out of the too-short Canadian summer. But we’ve got you covered with a list of our Top Summer Stories so you can start the new season all caught up on market trends and insights from across Canada and the United States.
See you Tuesday!
WHAT MICHAEL FERREIRA REALLY THINKS: “Frankly, this reeks of uninformed politics, of a Prime Minister trying to win a majority by any means necessary, even at the expense of stirring up xenophobic sentiments towards foreigners or immigrants from visible minorities who are able to purchase homes in Canada. Read more
CUBE LOVE: If you’ve ever driven onto the Don Valley Parkway, you’ve likely taken notice of Toronto’s famed cube house, mysterious green blocks suspended above the ground right next to the road. Now the famed city landmark is officially up for redevelopment thanks to a recently-submitted Official Plan and Zoning By-law Amendment application. Read more
GET WITH THE ACTION: Is your TikTok “For You” page an endless stream of NYC realtors showcasing studio apartments in SoHo, thousands of miles away from your home in the Bay Area? A new mobile app called Playhouse is hoping to bridge the disconnect between real estate listing videos and local buyers. Read more
VANCOUVER CALM: Having emerged from the third wave of the COVID-19 pandemic, Vancouver’s luxury home market could see further stabilization towards the end of 2021. Read more
US WORRIES: The number of American sellers who have dropped their home’s for-sale price has gone up in recent weeks, according to new insights from Redfin. Read more
GLOUCESTER ON YONGE: The builders say it will be the first tower in the country to benefit from “biospace virus and bacteria mitigation systems,” which deliver cleaner and safer indoor spaces through improved airflow and filtration in high-traffic areas. Residents don’t need to touch anything from curb to suite thanks to mobile access to major entry points, common areas and elevators. Read more
WHERE, NOW? Resale condos are selling like hotcakes, but the biggest price increases may not be where you’d expect. Read more
LOOK UP: A fleet of helicopters flying over Toronto in a V-shaped formation turned many curious heads on an August evening. Turns out, the secretive group of black choppers wasn’t carrying top secret agents or royalty, but a handful of real estate agents getting an exclusive birds-eye view of a new master-planned condo project. Read more
Uh Oh: There’s another side to record home sales – record mortgage debt – and it’s making Equifax Canada nervous. The debt monitoring company said soaring home prices have increased the average amount of a mortgage loan to $355,000, which is 22 per cent higher than a year ago. British Columbia saw the volume of mortgages issued jump by an eye watering 86 per cent. Read more
STAY STANDING: A series of heritage buildings in Toronto’s West Don Lands that were slated for demolition will be largely retained thanks to an agreement reached between the City of Toronto and the Ontario government. Read more
WEST COAST HOME: Here’s a list of 11 new construction projects from across the Metro Vancouver region that are preparing to launch sales this summer. The information used in this list is sourced from BuzzBuzzHome. Read more
MAYBE YOU PREFER TORONTO: Summer is coming into its final stretch, but there’s still plenty of time left for pre-construction projects to kick off the start of sales before fall officially arrives. Read more