ON is focusing on building more high-rise units than low-rise. Condo builds take 4-5 yr, current sales affect 2027-2028 supply....
Market Update
The government is bypassing Ontario Premier, sending $357M directly to municipalities. Ontario failed to show plans to meet federal affordable housing targets....
A $6 million deal between Brampton and Habitat for Humanity will ensure 27 new affordable housing units remain cost-effective for at least 25 years. The homes, located at 25 William Street and 1425 Countryside Drive, will be family-sized with 3-4 bedrooms. Funding comes from the federal Housing Accelerator Fund, with priority given to Brampton residents. Construction is expected to start this year, with...
Home sales in Brampton decreased by 6.4% last month, with all property types experiencing a drop except for condo townhouses. Detached home sales fell by 3%, leading to a decrease in average prices. The Bank of Canada's lending rate drop may boost buyer confidence. Peel Region saw a 9.7% increase in new listings, but overall sales dropped by 2% with a 3.1% decrease in average home prices. The GTA...
Avg price for detached homes: $1.5M in May, ↓ 3.2% yearly Avg price for Semi-detached homes: $1.17M in May, ↓ 2% yearly...
Ontario aims to build 1.5M homes by 2031, with budgetary focus on aiding municipalities in achieving this target. Promises in the budget include: - $1B for the Municipal Housing Infrastructure Program to assist municipalities in building infrastructure for housing development....
To all Canadians around the world, a very happy Canada Day to you all. This day commemorates the unification of the three North American British colonies. Canada Day is a celebration of a united Canada and examining its defects, past and present, should not lead us to overlook its strengths. So let’s pour our hearts into a continuing effort to purge our...
London, Ontario is witnessing a residential boom with several new mixed-use and conversion projects in the downtown area. Over 5,500 residential units are anticipated in the coming years, which will transform the city center. Developers are converting office buildings into residential spaces, including skyscrapers and former commercial buildings. High-rise developments are also emerging outside the...
~60% of GTA neighbourhoods were in underbidding territory in May, with 4% of homes selling for asking price.For single-family homes and townhouses, 53% of GTA neighbourhoods were in overbidding territory last month....
The avg selling price for homes in the GTA in May was $1,165,691, a 2.5% decrease yearly. GTA housing market saw stable sales in May at 7,013 transactions, ↓ 21.7% yearly....