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CMHC releases housing stats data
Mortgage Broker News
Housing starts skyrocketed in August, according to CMHC's most recent trend measure, led in large part by strong condo activity. "Housing starts have been trending up, supported by strong condominium activity in Toronto. This is in line with CMHC's most recent forecasts that would see demand shift from new higher-priced single-detached homes towards lower-priced alternatives," Bob Dugan, CMHC's chief economist, said in a release.
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Average GTA house price up 10 per cent in August
Toronto Star
The average sale price of homes across the GTA was up 10 per cent in August to $602,607 and sales climbed 5.7 per cent as Toronto's hot real estate market continued to show no signs of cooling down. Leading the way, once again, were condo sales which were up almost 14 per cent as more people searched for alternatives to low-rise detached, semi-detached and townhomes, which continue to climb out of reach
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Housing starts surge to highest since 2012 as Toronto condo construction jumps
Financial Post via Bloomberg News
Canadian housing starts rose 12 per cent in August to the highest level since September 2012 as Toronto condominium and rental apartment construction surged. Housing starts rallied to 216,924 units at a seasonally adjusted annual pace from a revised 193,253 units in July, Ottawa-based Canada Mortgage & Housing Corp. said in a statement.
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Mississauga mall to be partly financed by crowdfunding
Hamilton Spectator
A shopping mall in Mississauga is set to be among the first Canadian real estate projects to be financed partly through crowdfunding. NexusCrowd Inc. is opening its online platform recently to accredited investors who want to contribute a minimum of $10,000 for a stake in the property.
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Proposed railway bypass would take freight trains off commuter track, opening lines for more GO services
Mississauga News
Mississauga councilors gave the thumbs up to a study looking at the feasibility of building a railway bypass line that would pave the way for all-day, two-way GO service on the Milton and Kitchener lines. The study looked at the possibility of building a new stretch of railroad between the CP line west of Trafalgar Road in Milton and the CN bypass line at Bramalea. It would separate freight and passenger trains and would effectively take the heavy freight trains off the GO lines so the tracks could be for commuter use.
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TCHC finds 71 needed improvements but lacks funding
Toronto Star
Toronto Community Housing wants to replace outdated security cameras, better manage bedbug infestations and respond faster to elevator breakdowns. But the bulk of those improvements — they have identified 71 in total — can't happen unless the corporation comes up with $13.73 million in next year's budget.
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New website highlights plight of Canadian renters
Toronto Star
Voters in Canada's 4 million renter households have a new tool they can use to grill candidates on affordable housing in October's federal election. The Canadian Rental Housing Index, an interactive online map developed by a partnership of non-profit housing organizations and credit unions, tracks renter income, affordability and overcrowding for the first time in more than 800 cities and regions across the country and in all 338 federal ridings. It brings together all types of rental accommodation, including social housing, purpose-built rental, condos, houses and secondary suites in homes.
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Finch LRT contractor sought
Toronto Star
The Ontario government has kicked off the search for a contractor to build the $1.2 billion Finch West LRT. The 11-km. line will have 18 stops between Humber College and an underground terminus at the new Finch West station on the Spadina subway extension.
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Intensification policies create unique impact on GTA home prices
Toronto Star
Housing affordability is key to the economic health and competitiveness of the GTA. But affordability isn't only about the price of homes; it's also tied in with incomes and interest rates. Historically the main way to offer a snapshot of the cost of housing is to use average home prices.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Canadian debt levels rising with home prices, but mortgage rules helping to manage risks (Financial Post via The Canadian Press)
Canadian home sales dipped slightly in July (REMI Network)
The millennial renting vs buying real estate debate (Huffington Post Canada)

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Real Estate Update
Frank Humada, Vice-President Operations, Canada, 289.695.5422
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Janet Piercey, Content Editor, 289.695.5350   
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