Avg residential property price ↑ 3% yearly reaching ~$1.2M in September. Sales Slow Despite Price Hike: Home sales ↓ 7.1% yearly, with 4,642 units sold. Supply Imbalance Persists: New listings ↑ 44%, active listings ↑...
Market Update
In October 2023, the federal government reached an agreement with the City of Brampton, Ontario to fast track over 3,150 new housing units over the next three years. This agreement will provide funds to eliminate barriers to building housing, increase housing density, and create new incentive programs for affordable housing. This initiative is expected to result in the construction of more than 24,000...
National condo market cooling down. GTA condo sales ↓ 13% _Prices in the GTA fell by ~6% yearly. _Avg GTA condo price: $747K...
Habitat for Humanity has requested $5 million from Brampton City Council to help fund two affordable housing developments. These developments would provide 27 affordable housing units to the city, but rising construction costs due to the COVID-19 pandemic have made the projects more costly than expected. If funded, the units will be three- or four-bedroom, two-bathroom suites with 1,380 - 1,530 square...
Home affordability in Toronto has significantly declined, with avg condo prices surpassing what most median-income earners can afford. Median income earners in Toronto West, Central, and East, with a $74K income, can afford homes around $342K. In Toronto Central, avg condo prices exceed $760K, creating a $400K affordability gap....
If you are searching for peace and tranquility then look no further. This beautiful country home is located just five minutes out of Burk's Falls on a quiet country road. 15+ acres will guarantee your privacy with approximately 5 acres of meadow and the remainder is mixed bush with trails built in recently. The house offers 3 bedrooms + 1.5 baths...
Brampton City Council has approved a two-year pilot program that requires residential landlords in five wards to register and obtain licences for some types of rental properties. The program will include random inspections, a one-time fee, and escalating fines for repeat violations. It is intended to protect the health and safety of tenants and maintain the quality of local neighbourhoods....
Ontario property assessments remain frozen at 2016 values for the 2024 taxation year. Ontario's property assessment system operates on a 4-yr cycle, but it has been delayed due to the pandemic. The government officially extended the current assessment cycle to 2024, making it an 8-yr...
Ontario postpones property reassessment until 2025, using 2016 market values for 2024 property tax allocation. Reasons for the delay include concerns about inflation, financial stress, and budget predictability. Critics argue the delay leads to indiscriminate property tax increases and hinders needed adjustments for commercial properties....
In September 2023, the average price of a home in Brampton was $1.04 million, up 2.8% from the previous month and 3.4% from the same month in 2022. Sales were down 6.9% while active listings were up 56.8%. Detached houses averaged $1.21 million, down 1.3% month-over-month but up 2.8% year-over-year. Compared to September 2013, the average sale price for all houses and condos in Brampton has increased...