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26 July 2016
Housing starts in Quebec were trending at 32,051 units in June, compared to 32,658 units in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
25 July 2016
The Bank of Canada announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.
20 July 2016
National home sales fell 0.9% from May to June. Actual (not seasonally adjusted) activity came in 5.2% above June 2015. The number of newly listed homes rose 2.2% from May to June. The MLS® Home Price Index (HPI) rose 13.6% year-over-year in June. The national average sale price climbed 11.2% in June from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 8.4% year-over-year.
06 July 2016
The New Housing Price Index (NHPI) rose 0.3% in April, following a 0.2% increase in March. This was the largest monthly advance since October and was mainly driven by new housing prices in Ontario. Of the metropolitan areas covered by the index, the top contributor to the national increase in April was the combined region of Toronto and Oshawa (+0.7%). Builders cited market conditions as the main reason for the advance.
20 June 2016
National home sales dropped 2.8% from April to May. Actual (not seasonally adjusted) activity was up 9.6% compared to May 2015. The number of newly listed homes fell 3.2% from April to May. The MLS® Home Price Index (HPI) rose 12.5% year-over-year in May. The national average sale price climbed 13.2% in May from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 9.1% year-over-year.

What's hot

17 June 2016
In a recent judgement of the Court of Québec, Small Claims division 1, the Court held that a co-owner of a building had not proved that the plant-sprinkling water from his neighbour, three floors up, was responsible for the deterioration of the painted surfaces of his balcony. The syndicate of co-ownership, called in as warranty by the prosecuted co-owner is not responsible either, according to the Court. The claims of the parties in the Court The plaintiff and the defendant own condominiums located respectively on the 24th and 27th floors of the building. The plaintiff accuses the defendant of having badly maintained the balcony of his condominium, thereby causing the flow of wastewater. The applicant therefore claims from him $4,300 in compensation for water damage to his balcony.
10 June 2016
Whether it be repairing a brick wall, the balconies, the parking lot, the roofing, from landscaping to the foundation, an owner of income property should know about the consequences of this work and his obligations to his tenants. 1 – THE NOTICE: The obligatory notice mechanism is required under section 1922 for work carried out inside the housing only. Thus, external work does not require formal notice being given to tenants. This rule was confirmed in 2012 in Reid v. 1745 Cedar Ave Inc. 31-120621-042. However, a courtesy notice given in advance to your tenants will allow them to take steps to minimize the impact of these works on their lives. For instance, a holiday taken at the same time, working with the family rather than at home, etc… There is no delay time to do it since this notice is not binding. This approach is a way to help maintaining a good relationship between you and your tenants and possibly reduce the damages claimed.
03 June 2016
The evidence submitted at the hearing held at the Rental Board shows that the landlord tried to visit the apartment with prospective tenants. But the tenant refused access several times, although the latter had authorized the landlord to make two visits. The tenant demands to be present during visits to his housing by potential tenants since he does not trust the landlord. He claims that the landlord would already have entered his housing without his permission. This last statement is belied by the landlord. The tenant acknowledges that he changed the lock on the door of his dwelling without the consent of the landlord. It concerns a digital code lock.
26 May 2016
A few weeks before the massive period of moves, many leases were signed and some units are still vacant. But after moving in, our tenants get to know their new neighbors. In most cases all goes well. Unfortunately, this is not always the case.