LEASIDE & DAVISVILLE BLOG

LEASIDE & DAVISVILLE BLOG

Saturday, October 3, 2020

Mid-Rise Residential Buildings Proposed at Laird and Stickney in Leaside

 








Leaside Residences LP and Core Development Group are proposing twin mid-rise buildings for the southwest and northwest corners of Laird Drive and Stickney Avenue, south of Eglinton Avenue East, in the Toronto neighbourhood of Leaside.

The sites at 126 and 134 Laird Drive are currently occupied by low-rise auto-related buildings—car dealerships, automobile service centre—and associated surface parking lots. A 10-minute walk north from the site is Laird Station on the Crosstown LRT line, which is expected to open in 2022.

Click here to read the article....


Friday, October 2, 2020

5 Investments That Will Increase your Property Value this Fall

Upgrade your home's worth with these five tips

By Justin Kerby Sep 29, 2020



MARKET UPDATE FOR THE WEEK ENDING OCTOBER 2ND, 2020

Toronto is the only North American real estate market considered in bubble territory. Toronto home prices are overvalued, making it high risk of being in a bubble, according to a new report on global real estate conditions by UBS Bank.

The bank ranked Toronto as No. 3 in its annual bubble index, following Munich and Frankfurt. Seven of the 25 global cities assessed were in the high-risk category. Hong Kong, Amsterdam and Paris were below Toronto.
The report defines a bubble as being a period of a substantial and sustained mispricing of homes. UBS real estate analyst, Jonathan Woloshin, said “there is a greater chance of price stagnation or price decline” in cities like Toronto. “Does that mean it will happen? NO. But the risk is certainly greater,” he said.
The UBS report stressed that it was not predicting when a bubble would burst. Overvaluation and undervaluation can go on for quite a long period of time. Toronto’s home prices have increased, “yet affordability is already stretched,” the report said.
The report looks at imbalances in real estate markets, including the relationship between home prices and household income. This is the fourth straight year that Toronto has been in the bank’s bubble zone, taking the top spot in 2017. Vancouver also made it to the No. 1 spot in 2016, but this year the UBS index did not classify the city as being in the highest risk zone.
The freehold market still seems to be looking for stable footing. We are witnessing a bit of everything, with some listings reducing their prices after a couple of weeks and some cancelling their listing and coming out with a new increase in their price, when they don’t get a bidding war on offer night.
After weeks of increased listings in the condo market, last week we saw a 12% dip in new listings. While sales tapered off 7% over the previous week, activity continues to be good with 34% of condos selling at or above the list price.
Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Friday, August 21, 2020

MARKET UPDATE FOR THE WEEK ENDING AUGUST 21ST, 2020

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Canadian real estate prices are growing at a breakneck speed. More homes were sold in July than any other month on record, with data going back more than 40 years. The performance of the housing market during this pandemic recession has been a big surprise. The price of a typical home across Canada reached $637,600 in July, a 7.56% increase compared to the same month last year. Canadian real estate buyers are shrugging off the pandemic, as a temporary inconvenience. The Canadian Real Estate Association (CREA) data shows prices made a huge increase, not just in known “hot” markets like Toronto, Ottawa, and Montreal but in almost every real estate market across Canada.

 

The massive increases this year represents a significant portion of gains made over the past 3 years. Montreal real estate prices are up 14.04% in July, compared to last year - making up almost half of the 29.21% increase made over the past 3 years. Toronto’s 10.11% increase over the past 12-months, contrasts with a 14.51% increase over the past 3 years. In Vancouver, prices increased 4.83% over the past 12-months, but just 1.61% over the past 3 years. For Toronto, this means the past year has seen growth twice as fast as the previous two years.

 

Sales have also been helped by low mortgage rates with rates for five-year fixed-rate mortgages being offered at less than two percent. The robust price growth right across the country, comes even as indicators like employment, rental rates, and immigration fall. When prices rise across the board despite a breakdown of these indicators, its almost certainly a result of too much easy credit.

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osley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Tuesday, July 14, 2020

Bosley's Market Snapshot June Sales 2020









































For help in interpreting this information as it relates to your property, please call or email me and I will be happy to assist you without any obligation.