Rising property prices in Toronto prompt buyers to explore more affordable locations. Hamilton gains popularity among home buyers seeking affordability outside the GTA....
Market Update
A study has found insufficient land in the GTA to meet population growth and housing goals. The provincial target of 1.5M new homes is jeopardized due to land shortage....
Federal tax increases in 2024 affect housing, including higher income taxes and carbon tax hikes. The introduction of a digital services tax could increase consumer costs by $1.2B in 2024....
Steady Price Growth: Predicted 6.0% YoY increase in home prices to $1,198,012. Strong Detached Market: Single-family detached property prices expected to rise by 7.0% to $1,481,950....
Brampton has initiated a Residential Rental Licensing pilot program to address issues with illegal units, lodging houses, and other problems. Property owners in five wards are required to obtain a license to rent out up to four units. The city estimates there are 30,000 illegal units. The program includes inspections and penalties for non-compliance, initially focusing on downtown wards with...
A survey reveals 48% of Ontario homeowners and potential buyers altered plans due to increased interest rates. Changed Home Investment Views: Those who saw home buying as a solid investment now delay....
-GTA avg home prices: ↑ yearly to $1.082M -Toronto new homes avg price: $1.05M < regional avg Mid-Q4 sales ↓ 6% yearly to 4,236, while new listings ↑ 16.5%. -Townhome sales in Toronto ↓ 20% yearly -Detached home sales ↓ 14.5% Condo prices outside of Toronto ↑ 6.4%, attributed to their affordability. Anticipation of rate cuts in 2024 may...
A welcome bonus of up to 40,000 Aeroplan points is available for approved accounts by March 4, 2024. Despite a slight drop in Ontario's average home prices in November, mortgage rates remain high. However, variable rates may decrease in 2024 if the Bank of Canada lowers its overnight rate. The housing market is predicted to normalize in 2024 with modest price increases. Different types of lenders...
A recent study reveals insufficient land supply in the Greater Golden Horseshoe and Greater Toronto Area. The shortage jeopardizes Ontario's goal of constructing 1.5M new homes, impacting housing supply and affordability....
The real estate market in Newmarket, Ontario experienced its slowest year in 2023 since 1997, with less than 950 sales. High ownership costs and limited inventory affected the market, but an increase in homes for sale from September to November led to a decrease in prices. Experts predict further price declines in 2024, particularly due to expected interest rate cuts. Continue to full article...