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Monday , 24 November 2014

Category Archives: A Breaking Story

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The Supreme Court of Canada Decision on Public Disclosure of Home Selling Prices Sends Case Back to Competition Tribunal

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Wherever you stand on the hot topic of public disclosure of home selling prices by the Toronto Real Estate Board (TREB), you’ll have to wait for a decision. The Supreme Court of Canada, last week, decided not decide. Instead, they sent the case back for a new trial in front of the Competition Tribunal. The Tribunal originally threw out the case brought by the Competition Bureau because it felt that TREB was not competing with anyone. The case defies logic, perhaps, but not interest. Interested parties fall into two main camps—the democratization of information camp, who want full disclosure of information, and TREB, who claim the information is private. The ... Read More »

News: New Urban Park and Waterfront Trail at Ontario Place Within Months

The location of the east island Ontario Place urban park and waterfront trail. It will be built at a cost of at least $100 million on land currently used for storage and staff parking.

After a two-year assessment, the government is moving ahead with an Ontario Place waterfront plan, first unveiled in June, and blandly named the “Urban Park & Waterfront Trail Project.” At a news conference this morning, Michael Coteau, Minister for Culture, Sport and Tourism, announced construction will begin this autumn. No specific date was set, although completion is anticipated by 2016. Original plans had promised the park would open sooner. According to the Ontario government website: “The revitalization of Ontario Place is a large and complex project and will be completed in phases. It is our goal is to open the park and trail in 2015 to give you much-needed green space ... Read More »

Google buys smart home innovator Nest

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Smoke detectors and thermostats do not have much of what you call glamour. Every home has at least one of each, and we can’t do without them, but they generally haven’t been much loved by the average home owner, more of an off-the-shelf kind of necessity that can be bought at the local home improvement store, like a plunger for the toilet. A California company started to change all of that about three years ago. Started by two former Apple employees—one of them, Tony Fadell, is known as the “father” of the iPod for his work on the Apple music player; he also worked on the original iPhone—Nest Labs Inc. ... Read More »

City and BILD reach compromise on new development charges

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The City of Toronto created a furor among the local building industry and realtors earlier this year when it announced large increases in the city’s development charges. In some cases, the charges would have virtually doubled, prompting many builders and realtors to denounce the increases, saying that they would kill the building boom going on in downtown Toronto. Now it appears that a compromise has been reached, as the city has said it will reduce the amounts by which the development charges will increase. The main industry group that had opposed the hikes, the Building Industry and Land Development Association (BILD) is reported to be satisfied with the reduced charge ... Read More »

22 Percent Increase in Resales and Higher Home Prices in August for Toronto

Toronto Real Estate Sales increases 22 percent across all home types in August 2013 over August 2012.

With 3359 sales reported in the first two weeks of August, the market is encouraged by a 22 percent increase in resales over same period last year. Sales and listings also rose on a year-over-year basis—across all types of home: condo, townhome, semi-detached and detached. Average selling price climbed again to $494,617 Indicative of a strong market for August, prices also rose. “Sales growth that is stronger than new listings growth is indicative of more competition between buyers. Against this backdrop, it makes sense that the average selling price continued to grow,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. At an average price of 507,288, 1,164 homes were ... Read More »

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