High interest rates have reduced GTA housing demand by 50%, increasing inventory and moderating pricesMunicipal approvals in the GTA take up to three years, delaying new home supply and increasing costs....
Market Update
Detached home values are rising in 40% of the Greater Toronto Area (GTA) markets. Experienced buyers and investors are driving activity, as first-time buyers face affordability challenges....
The Ontario government is investing over $23 million to construct 17,576 new homes in London, funded through the Housing-Enabling Water Systems Fund. This initiative aims to enhance drinking water and wastewater infrastructure, supporting the city's growing population and economic growth. The total investment in the fund has reached $1.2 billion, with additional funding for rural municipalities....
London's building boom has reached the limits of its sewage capacity, prompting Ontario Premier Doug Ford to announce a nearly $24 million investment for residential development in the downtown area. This funding will cover about 75% of the costs for a new larger sewage pipe to connect Downtown London to the Greenway Wastewater Treatment Plant, allowing for the construction of an additional 17,576...
Many Muslim Canadians face challenges in obtaining conventional mortgages due to the prohibition of interest (riba) in Islam. Halal mortgages offer an alternative, structured to comply with Shariah law, allowing for profit-sharing instead of interest payments. There are three main types: Musharaka (partnership), Murabaha (cost plus profit), and Ijara (lease). Currently, only a few institutions in Canada...
GTA home prices dropped across the board in July 2024. Bidding competition eased in the GTA, with only 14% of homes overbidding in July....
Detached housing markets in the GTA are driven by investors and move-up buyers. Around 20,000 to 25,000 potential buyers are waiting in the GTA....
Hastings Region saw ↑ 21% in sales, from 146 to 177 transactions in July 2024. Prince Edward County’s avg price ↑ 10.4% to $838,686, despite a decrease in sales....
Happy Labour Day! Labour Day is a chance to honor and appreciate the hard work and contributions of workers in various industries. It's a chance to look back at workers' rights achievements and labor rights progress over time. Sending warm wishes on Labour Day to honor the dedication and contributions of workers everywhere. May your Labour Day...
Renewing your mortgage can be stress-free and money-saving. Tips include starting early, exploring different lenders, understanding your current mortgage, researching rates, considering future financial goals, and negotiating for the best deal. Knowing fixed vs. variable rates, stress test requirements, and prepayment options are crucial. Short-term options, lump sum payments, and professional guidance...