Peel Region’s Late-Fall Housing Market Trends
In November 2024, the City of Toronto recorded 2,235 sales, showcasing strong activity in the urban housing market. The median home price in Toronto was $897K, making it more affordable…
GTA Condo Supply Nearing Unprecedented Level
The GTA is facing a surplus of ~40K condo units, including unsold units, resale listings, and assignments. Record-high condo completions are expected in 2024 and 2025, adding to the supply…
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.