Developer charges in Brampton are being reduced by up to 25% for rental builds to align with the province's housing goals. The city council approved changes to lower development charge rates for various types of housing, including single homes, apartments, and industrial builds. These adjustments aim to support the construction of 1.5 million new homes in Ontario, with Brampton expecting around...
Market Update
Taxes, fees, and levies account for 31% of new home costs. Approval processes add months to building projects....
Ontario saw ↑23% in housing starts in Mid-Q2 yearly. Despite the increase, 2024's overall housing starts ↓6% yearly....
Review the contract carefully to ensure you are getting the agreed-upon interest rate and understand any lender fees. Be aware of your prepayment privilege and any prepayment penalties associated with paying off your mortgage early....
The average home price in Brampton was $1.01 million in June 2024, up 0.7% from May 2024 but down 9.3% from June 2023. Detached houses averaged $1.18 million, up 0.7% monthly but down 9.7% yearly. Semi-detached houses averaged $912,621, down 1.7% monthly and 10.5% yearly. Attached houses averaged $869,021, down 0.7% monthly and 7.6% yearly. Townhouse-style condos averaged $693,359, down 0.3% monthly and...
GTA Outside Toronto: 3,977 sales in rest of GTA, avg price $1,155,637. Sales ↓ from 4,612 in June 2023. Toronto Sales and Prices: 2,236 sales in Toronto, avg price $1,173,781. Sales ↓ from 2,817 in June 2023....
In Ontario, newly built homes come with a warranty supported by Tarion, a government-established consumer protection organizationUnlike home insurance, the new home warranty focuses on post-purchase risks and defects after completion....
June home sales in GTA ↓ 16.4% yearly, with 6,213 homes sold. Avg selling price in the GTA ↓ 1.6% yearly to $1,162,167....
The GTA housing market saw stability in May with 7,013 transactions, a 21.7% drop from last year. OREA CEO calls for rate cuts due to unaffordability affecting transaction volume. Average home price decreased to $1,165,691. New listings increased by 21.1%, leading to a buyer's market. Interest rate cuts may attract more buyers but could also increase mortgage delinquencies. Buyers are cautious due...