Toronto’s Condo Market: A 40-Year Evolution
Toronto’s condo market has seen significant growth since the 1980s, with over 500 towers expected by 2030. Condo prices in Toronto average C$707,917 (US$509,215) in 2024, making it Canada’s second-most…
Major Mortgage Reforms Take Effect Today
Canadians, especially Millennials and Gen Z, struggle with high mortgage costs, affecting homeownership. The federal government is introducing reforms to improve housing accessibility. Starting December 15, 2024, the price cap…
BoC Rate Cut: It’s Game on for Home Buyers
Lower Variable Rates: Mortgage rates ↓ 0.5%, with broker rates around 4.3%, slightly easing monthly payments. Affordability Boost: Buyers gain ~$30,000 in purchasing power, improving access to homes.
New rental overcrowding bylaw on hold due to ‘complex’ enforcement and other concerns in Brampton
Brampton has paused new rental overcrowding bylaws due to concerns over complex enforcement and potential negative impacts on large families. Proposed changes included room size limits based on occupancy, but…
Prime Rate in Canada: What It Is, How It’s Set
The prime rate in Canada, as of December 11, 2024, is 5.45%, following a reduction after the Bank of Canada cut its overnight rate to 3.25%. The prime rate, influenced…
Average GTA Home Prices Climb 2.6% in Mid-Q4
GTA home sales surged 40.1% in November 2024, signaling a housing market recovery. New listings rose 6.6% annually, but slower growth led to tighter market conditions and price increases.
Why BoC Expects No Recession in 2025
The BoC cut rates by 50 basis points as inflation nears 2% and GDP growth slows. Upcoming GST break, mortgage cap increase, and $250 rebate may boost spending amid U.S.…
Ontario Home Prices Set to Rise 5% in 2025
Ontario home prices are expected to ↑ 5% in 2025, driven by increased sales activity. First-time homebuyers will drive market activity, especially in more affordable regions across Ontario.
Homes prices drop as sales plummet ahead of winter in Brampton: report
Home prices in Brampton have decreased as sales fell significantly ahead of winter. A report indicates that detached home sales dropped over 10% in November, leading to a 0.3% decline…
Tax Relief Needed for Toronto Home Buyers
GTA residents face high taxes, totalling over $200K on the avg home purchase. Proposed tax cuts, like removing GST on homes under $1M, could save buyers $40K.