Latest Videos
The information you requested is not available at this time, please check back again soon.
Current home prices in Canada can’t be justified if medium-term interest rates stay elevated, a former Bank of Canada official said, underscoring the risk to one of the country’s most important sectors.
Treasury 10-year and 30-year yields reached new multiyear highs Monday as a selloff in bonds resumed in the kickoff to trading in the final quarter of the year.
New Zealand’s central bank is expected to keep interest rates on hold 10 days out from a general election, but policymakers may leave the door open to another increase if needed to tame inflation.
Alecta, the Swedish pension fund embroiled in the SVB fallout and the country’s recent real estate turmoil, has announced that its chairman will leave with immediate effect.
The US Supreme Court rejected one of several pending challenges to New York’s decades-old rent-control system.
May 10, 2018
There’s another sign that Canada’s second-largest city is the next hot housing market.
The Greater Montreal Area posted the country’s biggest increase in detached luxury home prices in the first quarter, with the median price climbing more than nine per cent to $1,569,515 from the same period in 2017, according to a Royal LePage report released Thursday.
Meanwhile, the median price of a luxury condominium in Montreal rose nearly four per cent year-over-year to $1,247,833, Royal LePage said.
“Compared to other world-class cities, Montreal offers the best real estate value on the planet,” Phil Soper, president and CEO of Royal LePage, said in a release.
“A buyer’s purchasing power is significantly higher in the Greater Montreal Area when compared to other Canadian and international cities.”
Montreal home sales surged 10 per cent year-over-year in April, while condo sales soared 18 per cent, according to data from the Greater Montreal Real Estate Board released earlier this week.
Montreal’s big gains come amid softening demand in Vancouver and Toronto’s detached luxury homes segment, as both buyers and sellers in the country’s hottest housing markets face a number of new federal and provincial housing measures.
In the Greater Toronto Area the median price of a luxury detached home remained relatively flat, down about 0.2 per cent at $3,522,117, while the median price of a luxury condo rose more than 10 per cent to $1,710,365.
The median price of a Greater Vancouver luxury detached home was up 5.2 per cent to $5,792,941 in the same period, while the price of a luxury condo rose seven per cent to $2,503,873.
Royal LePage also said it expects the median price of a detached home in Greater Vancouver will decline three per cent in the first quarter of 2019, compared with the same period this year.Related
