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TRENDS IN THE HOUSING MARKET — $990,000 STARTER HOMES! | Canada's VACANT HOMES - MASS EXODUS

662 views · Published 6 July 2017 · 1:15:45 · Indexed 1 November 2026

Channel: Mike Martins · 2017 · People & Blogs

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“the cost of living did not outweigh the standard of living the cost of living was here the standard of living was down here” — Mike Martins

New Zealand — The $990,000 starter home
- Auckland cottage advertised for approximately NZ$990,000, targeting first-time homebuyers.
- 12 Quadrant Road, Onehunga — examining the small cottage, interior, garden and property listing.
- Three bedrooms, one bathroom and a two-car garage, according to the listing discussed.
- Auckland first-time buyers reportedly spending $800,000 or more to enter the market.
- Auckland's average property value near $1.1 million, according to the report discussed.
- Auckland market showing signs of stalling — QV and Barfoot & Thompson figures.
- June average selling price reportedly down 3.1% compared with the preceding three-month average.
- Prices approximately 0.6% higher than a year earlier, according to the article.
- Political fallout from New Zealand's housing affordability crisis, with property becoming a major election issue.
 Canada — Empty homes, foreign buyers and the housing economy
- Approximately 1.34 million Canadian private dwellings not occupied as usual residences, according to a census-based analysis.
- Estimated 8.69% share of unoccupied or occasionally occupied dwellings in 2016.
- Comparisons with US vacancy rates before the 2008 financial crisis — examining differences in definitions and market conditions.
- Home flipping versus speculative market appreciation — distinguishing renovating a property from buying solely because prices are rising.
- Foreign buyers account for approximately 4.7% of reported Greater Golden Horseshoe transactions during the period examined.
- Ontario Ministry of Finance figures differ from earlier Toronto Real Estate Board estimates.
- Vancouver condominium benchmark prices reach approximately $600,700, up 17.6% year-over-year.
- Greater Vancouver townhouse benchmark prices reach approximately $745,700, up 10.7%.
- Greater Vancouver detached benchmark prices reach approximately $1.59 million, up 1.4% year-over-year.
- Greater Vancouver composite benchmark approaches $1 million.
- June Greater Vancouver sales total approximately 3,893, down 11.5% year-over-year.
- Fraser Valley sales decline approximately 10.2%, according to the report.
- Toronto's housing slowdown raises concerns about Ontario's economic dependence on real estate.
- Fraser Institute report: housing-related activity accounted for 29% of Ontario's economic growth in 2016.
- Ontario described as a “one-cylinder economy” because of weak business investment and dependence on housing.
- Montreal foreign-buyer transactions increase approximately 37% during the first four months of 2017.
- Montreal records 236 reported foreign-buyer transactions, representing approximately 1.8% of purchases during the period.
- Debate over whether investment will move from Vancouver and Toronto toward Montreal.
- Rent-to-own housing agreements — your warnings about the risks for desperate first-time buyers.
 United States — Seattle and the West Coast affordability crisis
- Seattle home prices rise approximately 12.9% year-over-year.
- Seattle leads major US housing markets in annual price growth for eight consecutive months.
- Portland follows Seattle among the fastest-appreciating markets.
- Seattle inventory reportedly 22% lower than the previous year in the figures discussed.
- Some Seattle buyers skipping home inspections in a competitive market.
- A Seattle property mistakenly listed around $7 million — a listing-price error that provides some humour during the broadcast.
- Foreign-investment debate in Seattle — comparing speculation claims with arguments about insufficient housing supply.
- Southern California home prices continue rising, leaving first-time buyers struggling.
- Orange County condominium affordability concerns, including buyers with budgets near $420,000.
- Luxury property listings around $2 million and above showing signs of increased supply.
- Oregon two-bedroom rental affordability crisis — discussing how difficult rents have become for local households.
 United Kingdom and Germany
- Prime central London housing market stalls.
- More London luxury listings reportedly withdrawn than sold in the period discussed.
- Approximately 58% of the relevant listings withdrawn from the market, according to the research cited.

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