One Good Earth Blog

Canada’s Real Estate Boom Is Super Hot As Shown Through 13 Charts

Canada’s Real Estate Boom Is Super Hot As Shown Through 13 Charts

Canada’s real estate boom as shown through a selection of charts via BuzzBuzz News Canada, reflects home prices across Canada from the 1920’s until 2012, to luxury rent values across 17 cities in the world… “The takeaway: Toronto rents for luxury homes saw the greatest year-over-year appreciation of any market examined. It beat out places including central London, Shanghai and New York.” Altogether, these charts tell a visual story of Canada’s real estate boom!

Another chart illustrates the difference between the U.S. housing crash and Canadian housing.


Chart Via Buzzbuzz News Canada
The takeaway: “One of the triggers for the US housing crisis, poor mortgage origination standards, looks to be less of an issue here,” write CIBC economists Avery Shenfeld, Andrew Grantham and Nick Exarhos.”

One chart in particular shows that the Toronto housing market may soon cool….click below to read the full article and view all the charts;

13 more charts that put Canada’s super-hot real estate boom in focus

There is no shortage of reports on the Canadian housing market as it rides a tidal wave of exuberance from its biggest markets. To give context, BuzzBuzzNews has gathered 13 more charts that explain where the market has been and suggest where it might be headed.

Another interesting article from this source on “should we fret about a Canadian housing correction;

Should we actually fret about a Canadian housing correction?

There hasn’t been any shortage of incendiary headlines lately suggesting the Canadian housing market is teetering toward the brink. “Pop Canada’s housing bubble, before it pops the economy,” the Globe and Mail’s editorial board recommended this past weekend. “How Canada’s real estate market went completely insane,” reads a recent explainer care of Canadian Business.


Is Affordable Home Ownership A Thing of The Past?

Is Affordable Home Ownership A Thing of The Past?

Montreal’s median prices for single family homes are $300,000 lower than they are in Toronto and $500,000 lower than they are in Vancouver.  The lackluster condo market of 2015 was replaced by steady growth in sales in 2016. “Montreal registered the lowest unemployment rate in 30 years in December 2016 with immigration rates skyrocketing.

According to the Royal Bank of Canada, Vancouver and Toronto were ranked the first and second most unaffordable cities in Canada with Montreal ranked third. Now that both the Ontario and Vancouver real estate markets have imposed a 15% foreign ownership tax, Montreal is bound to enjoy the spill over effects.  The home price Index in Toronto is $737,300, Vancouver 906,700, and Montreal $410,000, up 4% from 2015, according to JLR, a real estate market analyst.

Surprisingly, median salaries between the three provinces are very close with Montreal being within a $1000 less than Toronto or Vancouver. The same cannot be said for the housing markets as shown by the RBC affordability index. Data shows that 40% of gross family income would have to be spent on your home, Toronto 62%, and Vancouver 92%.

Here are some examples of price points in the different Montreal neighborhoods according to this excerpt from the Montreal Gazette article by Bert Archer:


Median price for a single family detached: $337,500 (all figures from

Go to Mile-Ex, and ask the first young woman with Dries lounge pants and mom-style sneakers where she’s opening her next pop-up DJ kiosk/bone broth stand she’ll tell you Villeray. Just like Mile-Ex was the next Mile End, and Mile End was the next Plateau, Villeray is the next Mile-Ex, and if you get in now, you can get ridiculous deals. Bonus incentive: According to CMHC rules you can get a mortgage with just five per cent down on the entire price of a home under $500,000. There aren’t many neighbourhoods in many Canadian cities – including Montreal – where this means you can get away with a pure five per cent down, but Villeray’s one of them.


Median price: $351,000

And Mercier-Hochelaga-Maisonneuve’s another. Both Cardinal and Fontaine mentioned this part of town as one they thought still had good values, but where prices would rise quickly. According to Fontaine, the number of families earning more than $80,000 a year doubled in this neighbourhood between 2010 and 2016, from 10-20 per cent. “It seems like it’s a neighbourhood worth investing in,” Fontaine said. The housing stock here is largely ‘60s- and ‘70s-style duplexes, the sort of squat, light brick jobs with below-grade garages out front that the typical Mile End dweller might scoff at. But look at Google Maps. It may not seem it quite yet, but this is downtown.


Median price: $456,000

There’s a price jump here, but look at that median – still well under the $500,000 mark. And I presume you’ve seen the Botanical Garden, at the Sherbrooke St. edge, as well as Jean-Talon Market. This neighbourhood’s going nowhere but up, and is the very definition of the sort of place – like Toronto’s St. Lawrence neighbourhood, for instance – that first-time buyers in 2030 are going to dream about living in on their commute from Terrebonne.


Median price: $469,750

Le Sud-ouest didn’t used to be a well taken care of part of town. But of course that’s changing now, and the property values have reflected it north of the Lachine Canal in Griffintown and St-Henri, but south of the canal is still a very good value, and will only get better as ice cream stands and street artists start to populate more of the 14.5-kilometre stretch of urban potential. Montreal’s newest and possibly coolest gin-maker, Cirka, set up shop there just last year. You could, too.”

*Information source – Centis and The Montreal Gazette

Every Day Is Earth Day – A Time For Celebration And Action

lavender-fieldEvery Day Is Earth Day – A Time For Celebration And Action

Earth day should be every day!! Here in Montreal, this day is also referred to as Jour de la terre. John McConnell, an American newspaper publisher first proposed “Earth Day” at a UNESCO Conference on the Environment in 1969. , On March 21, 1970, the first Earth Day was observed, on the vernal equinox, the day on which night and day are of equal length around the world. The intention was for this day to serve as an annual reminder that all humans are stewards responsible for the condition of the planet. By April 22, 1970, a second Earth Day reared its head, one spearheaded by U.S. Senator Gaylord Nelson from Wisconsin. The latter of the two was so successful that the April 22 date stuck.

Earth Day Network is co-organizing, with the March for Science, the rally and teach-in event on the National Mall on Earth Day 2017. This year’s event and campaign will fight against efforts to silence science and focus on creating and supporting knowledge sharing, community engagement, citizen science and stewardship.

Take Action | Earth Day Network

Together we’ve reached over 2 billion Acts of Green. Help us reach 3 billion!

Photo by Nathan Anderson




Ontario Slaps 15% Tax On Foreign Buyers

Ontario Slaps 15% Tax On Foreign Buyers

Ontario slaps a 15% tax on foreign buyers not long after Vancouver decided to impose the same tax measures to cool thier housing markets. On thursday the Ontario government announced 16 new measures to cool the housing market. The measures included a 15% tax on foreign buyers as well as rent controls.

According to the Toronto Real Estate Board, prices were up 33% across the region from a year ago. The concern is that with prices escalating, young people can’t even imagine ever owning their own home.

All this being said, with Vancouver and now Ontario having a 15% tax on foreign ownership, that makes Montreal more attractive for foreign investment.

To learn more details about the new 16 measures instituted by the Ontario goverment you can read the article here in the Financial Post:

Ontario slaps 15% tax on foreign buyers, expands rent control in 16-point plan to cool housing

The Ontario government moved forward Thursday with initiatives to rein in the housing market in and around its largest city, announcing 16 new measures including a 15 per cent tax on foreign buyers and expanded rent control rules.

Here’s a link to the article on VICE:

Ontario to impose 15 percent tax on foreign buyers

The province of Ontario will impose a 15 percent tax on all home purchases made by foreign nationals in the Toronto area, in a surprise move that aims to combat speculation in Toronto’s red hot housing market. In an announcement this morning, Premier Kathleen Wynne also pledged to expand existing rent control rules to cover all buildings.


Montreal Home Sales Jumped by 11% in March

Montreal Home Sales Jumped by 11% in March

Montreal home sales and the latest Centris Montreal Market Stats for March 2017

As indicated in the table below, all of the province’s census metropolitan areas (CMAs) registered an increase in sales in March, with the exception of Trois-Rivières. The Gatineau CMA led the way with a 38% increase.

As for the median price of single-family homes, it was up in all CMAs except Québec City, where it remained unchanged. For the province as a whole, the median price for single-family homes rose by 4% in March.

Desjardins Market Forcast For Quebec


Read the report below:

On March 23, Desjardins published its forecasts for Québec’s resale housing market. According to their forecasts, the number of existing home sales is expected to grow by 2.3 per cent in 2017 to reach 80,000. Despite the latest mortgage tightening measures, Desjardins considers that the low unemployment rate and the increase in after-tax income will be able to counter the negative effects of these measures. Québec’s unemployment rate is at its lowest level in approximately 40 years and, in 2016, after-tax income saw its biggest increase since the 2008 recession. As for the average price of properties, Desjardins expects an increase of 3.5 per cent in 2017.

According to Desjardins, the drop in the supply of properties on the resale market and the tightening of market conditions in several areas for single-family homes should result in new housing starts jumping by 6.9 per cent to reach 16,500 units. Furthermore, the surplus of condominiums is slowly being reabsorbed, which should ensure that housing starts for this type of property also increase in 2017.

Finally, Desjardins notes that caution should be used regarding rental apartment housing starts as vacancy rates remain high throughout the province. While the vacancy rate equilibrium point is 3 per cent, the province’s vacancy rate is around 4.5 per cent, ranging from 4 per cent in Montréal to 7 per cent in Saguenay.


Recent Economic Indicators Courtesty Of The QFREB


The Bank of Canada (BoC) announced on March 1 that it was maintaining its key interest rate at 0.5 per cent. The BoC notes that with the latest statistics on consumption and housing, growth in the fourth quarter of 2016 was stronger than expected.

Canada’s gross domestic product (GDP) grew 0.3 per cent in December 2016. Statistics Canada noted that offices of real estate brokers posted a 2.7 per cent increase, after registering a 6.4 per cent decline in November, due to the changes in mortgage lending rules.

According to the Canadian Real Estate Association (CREA), 37,379 residential properties were sold in Canada in February 2017, which represents a slight decrease of 2.6 per cent compared to February 2016. According to CREA, the average price for all residential MLS® properties sold in Canada in February 2017 reached $519,521, which represents an increase of 3.5 per cent from one year earlier. However, CREA noted that if the housing markets of Vancouver and Toronto were excluded from the calculations, the national average would be reduced to $369,728.


Montreal West Island A Seller’s Market!

West Island A Seller’s Market With The Shortest Selling Times!

According to the QFREB, (Quebec Federation of Real Estate Board in case you were wondering), six West Island cities had the shortest selling times in 2016. Pincourt, Kirkland and Dorval had the fastest selling times at 73 days and Beaconsfield, Dollard-des-Ormeaux and Pointe Claire not far behind.

It’s no suprise these areas are in high demand with the proximity of the 20 and 40 highways. According to Paul Cardinal, Director of QFREB Market Analysis Department told The Suburban, “with a strong pharmaceutical and high tech jobs base in the territory. It attracts people because they can live close to their work”.  “Tt is right now a seller’s market as there are more buyers interested,”  since there is less inventory.

In 2016, municipalities south of the highway 20, sales were up 11%, Baie D’urfe – 43%, and Sainte-Anne de Bellevue – 7%. Sales for February 2017 have been solid and prices have increased 11% in Vaudreuil-Soulanges compared to only 4% in Montreal.  The market conditions are most especially tightest for single family homes.


Griffintown Walking Tour

Griffintown Walking Tour

I thought I would share this post from G. Scott Macleod as he just finished creating the Griffin Town walking tour production. The Griffintown walking tour is in preparation for St Patrick’s Day and Montreal 375th anniversary.

Enjoy the 21 videos that tell the stories of Griffintown.  Here’s the link to the website:

Below is a small sample of the artwork.


The Death and Life
of Griffintown: 21 stories

MacLeod 9 Productions Presents

21 short films by G. Scott MacLeod

In these 21 short films, Irish Historian Dr. Matthew Barlow recounts the fascinating social history of Griffintown, a former industrial neighborhood just south of downtown Montreal. With only a handful of original civic, residential and industrial sites remaining, this once thriving community of predominantly working class Irish and French Canadians has all but disappeared. New constructions and gentrification are well underway and have brought a condo boom, but this community endures in memory, via recent books, films and community art projects and through Barlow’s stories.

Montreal Real Estate January 2017

Montreal Real Estate January 2017

Montreal real estate January 2017, the details according to Centris

“January’s sales increase can be largely attributed to the number of condominium transactions, which jumped by 21 per cent compared to January of last year,” said Daniel Dagenais, President of the GMREB Board of Directors. “What’s more, condominium sales increased in all geographic areas and in all price ranges,” added Mr. Dagenais.

“Sales by geographic area

  • For all property categories combined, January’s results show an increase in residential sales in the areas of Vaudreuil-Soulanges (+18 per cent), the Island of Montréal (+10 per cent) and the North Shore (+2 per cent).
  • Sales in the areas of Laval and the South Shore were unchanged compared to January of last year.

Sales by property category

  • Condominium sales in January 2017 were robust, jumping by 21 per cent, while sales of plexes (2 to 5 dwellings) grew by 6 per cent. In contrast, single-family home sales in the Montréal CMA fell slightly by 3 per cent.


  • In terms of price growth, single-family homes led the way with a 6 per cent increase in median price ($297,389) across the CMA.
  • The median price of plexes ($460,000) increased by 5 per cent.
  • As for condominiums, their median price was flat as compared to January 2016, with half of all units selling for more than $240,000.

Number of properties for sale

The number of properties for sale (28,280 active listings), all property categories combined, dropped by 14 per cent in January across the Montréal CMA. This was the sixteenth consecutive monthly decrease. ”

Centris sales statistics – January 2017

Uploaded by CIGM GMREB on 2017-02-07.

Source: Centris

The Montreal Vacation Home

The Montreal Vacation Home

This past year I had the distinct pleasure of getting to meet a colleague of mine from Texas who made the decision a few years back to invest in a vacation home here in the Le Plateau neighborhood of Montreal. She originally came to visit Montreal in the fall of 2000 and loved it so much, she returned and rented a place in the Plateau for 30 days in August of 2002.  Finally, in May of 2006, after contemplating for several years, she and her husband took the plunge, purchasing a lovely pied à terre by Le Fontaine Park in Le Plateau. For years now, they have enjoyed spending their summer months in our beautiful city and consider it one of their best kept secrets. I guess that is until now! She recently created a website that tells the story of her Montreal journey along with sharing some great information about what to see and where to go when in Montreal.  This is her open love letter to Montréal!

Summers in Marvelous Montreal | Explore the Beautiful City

With dozens of photographs, this love letter to Montreal is published by a Texan who found the perfect location for a May-Sept second home.


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