Canada’s Most Expensive Homes Sold In 2019

Whether it be a gorgeous, bright and spacious condo with a big city view, or a beachfront property with acres of land… Check out this list of Canada’s most expensive homes sold this year!

Which one would you pick?!

Location: Toronto / Approx. Size: 3,843 Sq Ft. / Price: $10,500,000

Location: Mississauga / Approx. Size: 5,000 + Sq Ft. / Price: $7,400,000

Location: Rothesay, NB / Approx. Size: 29,977 Sq Ft. / Price: $1,100,000

 

Ideas For Your Backyard In The Winter!

Just because there’s snow on the ground and low temperatures outside, doesn’t mean that your backyard has to be ignored this Winter!

Here are a few ideas to heat up your outdoor living space, just in time for the holidays!

Outdoor Fireplace:

Bring on the heat! This is probably the easiest way to be able to enjoy the outdoors while staying cozy beside the fire! Other options include heat lamps or a simple fire pit!

Patio Roof

Imagine a nice cup of tea in the morning, sitting at your favourite patio set that you enjoy during the summer months! All you will need is a little roof cover to stop the snow and ice from falling – Can be used in the summer as well!

Cozy Chair Coverings & Accessories 

Keep warm by adding weather-resistant rugs, blankets and pillows to your patio set!

Colourful & Winter Blooming Plants

Flowers aren’t only for spring & summer! There are certain plants that bloom in the winter! Such as pansies, Japanese quince, dogwood and heather are all very popular!

Outdoor Grilling

Don’t let the snow stop you! Invite your friends over for a winter BBQ feast! Think hearty veggies and meats that will warm you right up!

Lighting

With shorter days and longer, cold nights – lighting is key! Think string lights, solar lights or even candles to brighten up your outdoor space!

Get Active Outdoors!

How fun is your very own skating rink?! Other ways to actively use your backyard space could be a sledding track, snowmen and snow angels… The list is endless and the kids will love it!

 

Looking To Buy, Sell Or Rent In Toronto/GTA Region?

Try Sutton Realty – We Have Agents Standing By To Answer All of Your Questions!

Sutton Group Realty Systems Inc., Brokerage

905-896-3333 / 416-896-333

www.SuttonRealty.com

The New First Time Home Buyers Government Incentives Program!

Exciting News For First Time Buyers!

New Government Program offering Qualified Buyers up to $48,000 interest-free down payment incentives with no monthly payments! Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadian first time home buyers, on a First Come First Service Basis.

Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P.  Just keep in mind this is a C.M.H.C. insured mortgage program. The total down payment is to be “less” than 20% down.

You can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction.  Simplified, this is a shared equity mortgage program with the Government of Canada.

Again is all Interest-Free and includes No Monthly Payments.

You can repay the Incentive at any time without a prepayment penalty.  However, the repayment is based on the property’s fair market value.

How the First Time Home Buyers Program Works

The new program scheduled for September 2nd, So call today about this and “other” Government Incentives to ensure you have a well-planned home purchase.

Visit us online at www.SuttonRealty.com for more information.

Call Our Office Today and Speak to a Representative anytime 905-896-3333 or 416-896-3333.

You can even register for one of our upcoming Home Buying Seminars!

The New First Time Home Buyers Government Incentives Program!

Exciting News For First Time Buyers!

New Government Program offering Qualified Buyers up to $48,000 interest-free down payment incentives with no monthly payments! Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadian first time home buyers, on a First Come First Service Basis.

Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P.  Just keep in mind this is a C.M.H.C. insured mortgage program. The total down payment is to be “less” than 20% down.

You can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction.  Simplified, this is a shared equity mortgage program with the Government of Canada.

Again is all Interest-Free and includes No Monthly Payments.

You can repay the Incentive at any time without a prepayment penalty.  However, the repayment is based on the property’s fair market value.

How the First Time Home Buyers Program Works

The new program scheduled for September 2nd, So call today about this and “other” Government Incentives to ensure you have a well-planned home purchase.

Visit us online at www.SuttonRealty.com for more information.

Call Our Office Today and Speak to a Representative anytime 905-896-3333 or 416-896-3333.

You can even register for one of our upcoming Home Buying Seminars!

Fast Home Fixes For July!

Summer is the perfect time for all of those home projects and cleaning chores you’ve been putting off throughout the winter & spring!

Here is a quick list to help guide you!

Edge Garden Beds

Add Some Light To Your Garden

Refresh Mulch

Turn Off The Sprinklers

Fill In The Garden

Tackle Sidewalk Mildew

Weed Smarter

Test Garage Doors

Clean Bathroom Fans

Know Your Storm Plan

Trim Evergreen Trees

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

http://www.suttonrealty.com

http://www.iTorontoCondo.ca

Can Canada Keep up With The Price Of It’s Real Estate Market?

New research from the RBC’s housing affordability report shows that only a small fraction of families in Canada can afford to buy an average-priced home.

As it stands, only 20% of families in Toronto can afford to buy a home currently, and this statistic does not include taking a mortgage stress test!

Aside from the obvious high pricing in Toronto & Vancouver, RBC’s graph indicates how prices have risen above affordability all throughout Canada.

The good news is that RBC’s affordability measure has declined for two straight quarters, meaning housing is slowly becoming more affordable. The west parts of Atlantic Canada are declining in price, and household incomes are rising, causing the bar to lower for ownership in most markets.

In Canada – it now takes 51.4% of an average household to cover the costs of an average priced home, down from 53.9% six months prior. In Toronto, the ratio fell to 66% from 75.3 within a 6 month period.

At this pace, Toronto’s housing slowdown would have to last another 4 years before the city becomes affordable. RBC economists concluded “Interest rates are no longer poised to increase amid heightened global trade uncertainty. And despite signs of a cyclical market bottom emerging this spring, we expect home prices to remain under downward pressure for months to come in many western Canadian markets”.

Are you looking for help with a mortgage? Looking to buy your first home – Or even sell? Give Sutton Realty a call today. Peace of mind is just a quick call away! We can’t wait to help 🙂

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com 

Spring Tips For Buyers & Sellers In Real Estate!

The busy season in real estate is upon us… Spring!

What are a few key tips in either buying or selling your home this season?

For starters, open houses and for sale signs are always a great option. It’s a good time for sellers to typically charge more due to the amount of interest from buyers during this busy time of year.

This February was one of the slowest in terms of sales in Canada. According to a national survey, 50% of Canadians say they think spring is the best time to sell a home. Less than have say it’s the best time to be a buyer in the market. 11% said they want to buy a hope this spring, and only 8% said they plan to sell. It’s always important to consider curb appeal!

Remember, first impressions are everything in this business. So make sure you de-clutter, clean, and apply a nice fresh coat of paint if you plan on selling your home this spring!

Buyers just may have the upper hand this spring, so the best thing you can do as a potential buyer is to ask a lot of questions early on. It’s important to know what to expect during this process. Not to mention, find a realtor who knows your market! We can’t stress enough how important it is to have a communicative relationship with your realtor, so they can guide you through your search and ensure you are connected to the right experts along the way – whether that be mortgage brokers, lawyers or home inspectors.

Call us today to speak with one of our fabulous agents! We will be happy to connect you with the perfect fit for your buying or selling needs.

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 or 905-896-3333

www.SuttonRealty.com

Which Canadian Province Is Leading In Multi-Family Building Permits?

New statistics show an increase of 1.6% per month in relation to permit value for residential buildings in Canada, with Ontario as the clear leader for both single-family & multifamily permits since January. In Toronto, the value for multi-family dwellings rose from 26.5% to $871 million which was the second highest value on record!

Since December, multi-family permit approvals have increased by 3.5%, totalling to 21,192. Single family home approvals decreased by 2.3% from the previous month.

As for non-residential permits, the drop was pretty significant with a total of $3.0 billion down 15.8% from December, which resulted from lower construction intentions from commercial buildings. The total value for all permits issued in January for both residential & non-residential was $8.4 billion in January, down from 5.5% from December’s record high.

Whether you are looking to invest or to buy the perform home for you and your family, do not hesitate to call us! We have agents standing by to answer any of your questions.

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com

 

 

 

What You Need to Know About the Toronto Rental Market. Rates Rising In Toronto At Fastest Pace In 30 Years!

According to Statistics Canada date, the cost of rental housing jumped by the most in 30 years during January!

Recently the cost of renting an apartment in Canada shot up 0.9 per cent in a single month which was the fastest one-month leap since August 1989.

“This one-month movement reflects price change and not a change in methodology. However, given the new methodology, the variation we see now will be different than what we’ve seen in the past under the previous methodology.

Bank of Montreal analyst, says StatCan’s measure of rental rates has been “subdued for decades” and probably missed the spike in rental rates that has been taking place in recent years.

“The new way they measure it is actually capturing what’s going on,” he said.

And what’s going on is rental rate increases that are quite widespread, spreading well beyond the priciest markets. The latest data on asking rates for apartments from rental site Padmapper shows double-digit increases in 12 of the 24 cities covered.

How much did Toronto Condo Rental Prices Increase?

Asking rates for one-bedroom apartments in Toronto jumped 10.2 per cent over the past year, to an average of $2,270. In Vancouver rates rose 4.5 per cent, to $2,080, and Montreal rents jumped 11.1 per cent, to $1,500.

Moving to Toronto?  Looking for a Rental?  If you are looking to Rent in Toronto know what to expect.  Understanding the average prices of a 1 Bedroom and 2 Bedroom Apartment can help decide on a budget and area.   Looking outside of the downtown core could also help  your search.  Visit Toronto Rentals Condominiums for Lease for fresh rental listing posted dailing, not only in Toronto but in Mississauga, Oakville Brampton and ask far as Hamilton.

What is the Average Toronto 1 Bedroom Condo Rental Rate?

Many experts say the jump in rents over the past two years has to do with the slowdown in the owner-occupied housing market. Many would-be homebuyers have been priced out of the housing market due to the new mortgage stress test or rising interest rates, forcing people to stay in rental housing longer.

At the same time, Canada’s population growth has accelerated over the past few years, leading to the fastest population growth in several decades. A Bank of Montreal report from last year suggested the experts may be underestimating how much new housing Canada needs.

Many in the real estate industry blame rent controls, arguing that laws which prevent large rental rate increases make rental housing a less attractive investment. But supporters of rent controls point out that a lack of rent controls in some markets didn’t result in rental housing being built.

In Ontario, for instance, apartments built after 1991 were exempt from rent controls for many years. But that did not lead to an increase in rental housing construction. However, despite the Ontario government’s introduction of new rent controls in 2017, there has been an increase in purpose-built rental apartment construction around Greater Toronto.

In Toronto, for instance, when rent controls on newer units were removed in the 1990s.  There was no increase in rental housing construction. However, despite the Ontario government’s introduction of new rent controls in 2017, there has been an increase in purpose-built rental apartment construction around Greater Toronto.

Federal parties get involved

The federal Liberal government has outlined a $10-billion plan to support affordable housing across Canada, which would include some 100,000 new affordable housing units over 10 years.

To put that in perspective, that’s somewhat less than the number of new dwellings Canada needs to create every year to keep up with population growth.

The NDP are pushing for a plan to create 500,000 affordable housing units over five years.  But, have not put a price tag to the plan. The Liberals recently voted down an NDP motion on the proposal.

The federal Conservatives have suggested solutions that would increase the supply of new housing.  Loosening regulations on new house construction. They have also suggested they would make it easier to qualify for mortgages.

Relocating to Toronto or Area?   Call our Full Service Rental Department Today, our Luxury Rentals start at $2,000 a month for bachelors and we cover the entire GTA

View some of our feature rental listings at http://www.iTorontoRentals.com
or call us at 416-896-3333 or email sutton@realtor.com

Ask about our Tips for Tenants to find the Best Rentals in Town.

 

For more on this article, visit: https://www.huffingtonpost.ca/2019/03/03/canadian-rental-rates-statcan_a_23682881/

Severe Housing Downturn in Canada is Unlikely

 

Royal Bank has stated that a widespread real estate downturn is unlikely and that the probability is “still low but has increased somewhat in recent months”. Mortgage stress tests and rising rates are making it harder for buyers to get a foot in the door.

Toronto, Vancouver & Alberta are currently at risk due to the high interest rates put on the high-priced areas, and affordability is a major at a crisis level. “Regulatory changes made the market healthier – it is now balanced, well supported by economic and demographic fundamentals, and while condo building activity is elevated we see few signs of overbuilding,” says RBC.

Montreal remains one of Canada’s stronger markets at the present time, says RBC. Elevated levels of apartment construction in Montreal, Vancouver, and Toronto is a potential long-term concern, however unsold inventories are low.

 

For more on this article, visit: https://ca.sports.yahoo.com/news/severe-housing-downturn-canada-unlikely-rbc-190257940.html