GTA home sales in September reached 4,996, slightly up from August but 8.5% higher than September last year. The increase in sales is driven by lower interest rates and affordable conditions, boosting homeownership demand....
Market Update
Ottawa's new mortgage rules aim to assist homebuyers in the Greater Toronto Area (GTA). Eliminating the 20% downpayment requirement for $1M to $1.5M homes increases accessibility....
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability....
London's housing market showed signs of recovery in September, with home sales increasing by six percent year-over-year, totaling 562 sales. The average resale price rose to $641,583, a nearly two percent increase from last year. The Bank of Canada's recent interest rate cuts may have contributed to this positive trend. The region saw 1,569 new listings, resulting in 3,049 active listings, a...
London's housing market showed signs of recovery in September, with home sales increasing by six percent year-over-year, totaling 562 sales. The average resale price rose to $641,583, a slight increase from last year. The Bank of Canada's recent interest rate cuts may have contributed to this positive trend, as the market adjusts after a sluggish summer. New listings reached 1,569, resulting...
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022....
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region....
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply....
The federal government's decision to extend 30-year mortgages to first-time homebuyers is not expected to significantly alleviate the challenges faced by London renters, who are contending with a low vacancy rate and rising rents. While the changes may help some buyers enter the market, experts believe the impact on rental supply will be minimal. London's turnover rate for rental units has...
London's downtown office vacancy rate has reached a record 31.4%, with nearly 1.3 million sq. ft. unoccupied, up from 27.3% last year. In contrast, suburban vacancies decreased to 9.3%. The overall vacancy rate in London stands at 25.7%. The increase in downtown vacancies is attributed to firms downsizing rather than leaving the area. Local officials are exploring ways to promote vacant spaces and...