A study found 10 Greater Toronto Area communities where condos sold for under $550K this year. East York in Toronto had the lowest median condo price at $485K, despite a $499K listing price....
A study found 10 Greater Toronto Area communities where condos sold for under $550K this year. East York in Toronto had the lowest median condo price at $485K, despite a $499K listing price....
GTA homeowners can earn between $1,800 to $2,600 monthly by renting their basements. Old Toronto leads with potential annual rental income of $31,200, highest in the GTA....
The Toronto condo market in Mid-Q3 2024 saw price adjustments and slower sales, making it a good time to explore options. The GTA witnessed a 5% yearly decrease in benchmark home prices....
Mortgage delinquency rates in Ontario are the highest in Canada, with over 3,000 mortgages in severe delinquency, totaling over $1 billion—an increase of about 66% from last year. While inflation stabilizes and interest rates decrease, rising unemployment contributes to financial stress. Consequently, many young Canadians are delaying homeownership, with nearly 30% of households nationwide, and 33% in...
Availability rate climbed to 20.2%. Sublet space increased by 419,000 ft². Construction ongoing with 3.2 million ft² in progress.Vacancy rates hit 14%, varying by submarket....
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....
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...