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Ottawa population to hit 1.13 million by 2031
July 17, 2024
With urban sprawl and Greenbelt development once again hot topics, the city's planning and environment committee will be asked Tuesday to approve new population projections for Ottawa.
A recent staff report has forecast the City of Ottawa will have 1,136,000 people, 496,000 households, and 703,000 jobs by 2031.
The Greater Ottawa-Gatineau ...
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Real estate activity to cool as prices soar: Scotiabank
July 12, 2024
Last year’s comeback for Canada’s housing market will carry through early 2010 but subdued activity is on the horizon as higher prices and interest rates make property less affordable, Scotia Economics says.
In a new Scotiabank report entitled “Global Real Estate Trends” senior economist Adrienne Warren said she expects strong housing demand ...
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Good news for investors
July 10, 2024
A recently released study points to an increased need for rental properties for Canadians, as home prices continue their upward trajectory.
According to a Manulife Bank of Canada’s Debt Survey, published Thursday, 38% of Canadian homeowners feel that housing in their area is unaffordable. And two thirds of those expect housing prices to ...
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Cottage succession: Avoiding the bites and burns
June 21, 2024
Inheriting a cottage is an enviable situation. However, there are potential pitfalls that go beyond black flies and sunburns.
Unexpected costs can be significant, including probate fees, capital gains tax and land transfer tax.
Elaine Blades, director for estate and trust products and services at Scotia Private Client Group, says there are ...
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Property prices continue to climb in Q2, says Royal LePage
May 27, 2024
Home prices in Canada are showing no indications of falling this year, a survey by Royal LePage suggests.
A report by the real estate company said the average prices for standard two-story houses and detached bungalows went up 2.7 per cent in the second quarter of this year, compared with a year ago.
During April to June, houses were listed ...
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Making the most out of your house
May 23, 2024
Q. With the softening of the real estate market we hear there is a lot of inventory out there that no one is purchasing due to uncertainty. As a real estate lawyer do you have any tips that might make my house more marketable?
A. This is actually a question more for your trusty real estate agent but I can put in my two cents. I think the most ...
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Why you still need a mortgage broker
May 17, 2024
Investors are increasingly prepared to go it alone in this slower market where even the big banks are quick to whip out low rates to compete. But there are remain key reasons for using mortgage brokers. WhichMortgage.ca outlines those considerations and explains why savvy investors continue to rely on brokers and the website’s comprehensive ...
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Why housing prices refuse to fall
May 16, 2024
Those frustrated with the fact that property prices stubbornly refuse to fall now have a scapegoat: the Bank of Canada and other central banks around the world. As the Financial Post‘s Garry Marr reports, low interest rates are helping to boost property markets across the globe and Canada is no exception, says a new report from the Bank of Nova ...
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Five Canadian mortgage market predictions for 2014
May 14, 2024
1. New mortgage rules
Expect more rule tightening in 2019 designed to reduce mortgage risk for lenders, mortgage default insurers and the government. By definition, those rules will make it slightly harder to get approved for some mortgages and further slow the housing market.
2. Credit unions will steal market share
Since they’re ...
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Condo crash? Don't count on it
May 9, 2024
If you are sitting the sidelines hoping for the condo market to crash, the Conference Board of Canada says you’ll have to wait. The report, released by Genworth Canada, the largest private provider of mortgage default insurance in the country, says the sector will avoid a major downturn because of population growth and employment gains which will ...
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