The federal government claims Ontario isn't meeting affordable housing targets under the NHS agreement. Ontario committed to building 19,660 new affordable units....
Market Update
Avg home prices in the Greater Toronto Area (GTA) surged to over $1M. Financial gifting from parents has become crucial for first-time homebuyers....
AI Adoption: Real Estate firms are embracing AI for faster decisions and data-driven insights.Operational Real Estate: Investments in properties like hospitals benefit from steady demand....
The Bank of Canada is considering cutting interest rates, which would help ease the burden on indebted homeowners. Mortgage rates have doubled since 2022, leading to increased mortgage payments. Lower-income households will be most affected, potentially facing financial difficulties. The housing market is showing signs of recovery, but uncertainties remain, such as the labor market. Continue to...
Lengthy Occupancy: - Buyers in the GTA are experiencing longer occupancy periods, leading to financial strain. Costly Interim: - Occupancy period burdens buyers with rising costs and no rental income....
Majority of pre-budget announcements have focused on rental housing. Prime Minister Trudeau hinted at news on mortgages, possibly to be revealed on April 16. Recent announcements have emphasized rental housing, with plans to include rental history in credit scores. Experts suggest extending amortization terms for young homebuyers to improve access to the housing market. Continue to full...
Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts....
Single-family detached: - Home price: ~$1.3M - Income needed: $269K/yr - Mortgage payment: $6,485/mo Single-family attached: - Home price: ~$1M - Income needed: $208K/yr - Mortgage payment: $4,976/mo...
Avg home prices in Mid-Q1: - East York & Danforth North: ↑ 18.5% MoM to $1.22M - Riverdale & Danforth Southwest: 6.6% MoM to $1.19M - The Beaches & Danforth Southeast: ↑ 8.8% MoM to $1.31M Detached houses: - East York & Danforth North: ↑ 15.6% MoM to $1.4M - Riverdale & Danforth Southwest: ↑ 7.8% MoM to $1.63M - The...
Detached: 2,495, ↑ 21% yearly Semi-detached: 463, ↑ 16.9% yearly...