Greater Toronto witnessed ~4.6K home sales, ↓ 12.1% MoM, and ↓ 7.1% yearly in September. Sales of semi-detached houses and townhouses experienced even more significant declines from the previous year. New listings ↑ 44% yearly, reaching 16.2K in September 2023....
In October 2023, the Toronto Regional Real Estate Board (TRREB) reported that the average sale price for a detached home in Brampton dropped for the fourth consecutive month, falling over $100,000 over that time. The average price for detached units in Canada’s ninth-largest city was still up year-over-year compared to September 2022, however, it had fallen significantly since hitting a 2023 high in...
Canada's largest metropolitan areas’ housing starts ↑ 1% in H1, driven by apartment construction ↑ 15%. Toronto and Vancouver led the way with 32% and 68% total housing starts growth, respectively. High interest rates and construction costs have deterred starts for single-detached, semi-detached, and row houses....
Despite high prices in the GTA and Vancouver Real Estate markets, there are still opportunities for homebuyers. While there was a slight decrease in sales activity and home values in these markets, conditions have improved. Trade-up activity ↑ in both markets, with a higher share of detached home sales....
The Federal Government recently announced an investment of $114 million to build 3,150 new housing units in Brampton over the next 3 years, as part of a plan to construct 24,000 homes in the city over the next decade. Prime Minister Justin Trudeau visited the city to express the government's commitment to the project, which is part of the Housing Accelerator Fund. The fund is aiming to create more...
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 ↑...
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....