The tax figures and changes you need to know for 2022
A new year brings a new set of tax numbers, and here are the important figures you need to know for 2022. Each year, most (but not all) income tax and benefit amounts are indexed to inflation. The Canada Revenue Agency in November 2021 announced the inflation rate used to index the 2022 tax brackets […]
Five charts that will define Canadian real estate and housing in 2022
For Maclean’s eighth annual chartstravaganza, we’ve once again asked dozens of economists and analysts to ponder the year to come, and choose one chart that will help shape Canada’s economy in 2022 and beyond, and explain this outlook in their own words. This year, we’ve decided to release the charts over several days, making this […]
Canada’s Home Prices Are Set To ‘Rise Strongly’ In 2022 & Single-Family Houses Could Top $900K
It’s predicted that Canada’s home prices could soar next year thanks in part to pent-up demand and the median cost of a single-family house could reach more than $900,000. According to the new Royal LePage Market Survey Forecast released on December 15, home values in Canada are expected to “rise strongly” in 2022 but at […]
Toronto home prices expected to go up another 10% next year
After many months of home prices surging to never-before-seen highs, there’s no relief in sight for Toronto next year. According to the new Housing Market Outlook from RE/MAX, home prices in the province’s capital are expected to rise another 10% in 2022. In larger markets like Toronto, the report says, there’s a chance that increased […]
Toronto’s elimination of most parking minimums is now official
We knew it was coming. But it’s important and worth mentioning again. This week, Toronto City Council adopted new Zoning Bylaw Amendments that will remove most parking minimums across the city. We now join many other cities across North America who have done similar things in order to try and encourage more sustainable forms of […]
Toronto home prices rise 22% to record high as supply vanishes
Toronto home prices rose to a record as a sharp decline in the number of properties coming up for sale stoked competition among buyers, leaving little prospect the market will cool soon. The average price of a home sold in the Toronto region in November was $1.16 million, up 22 per cent from last year. […]
Inflation forecast Canada 2021-2022
Inflation in the Canadian economy has been on a steep increase since the start of 2021. Now as Canada begins to emerge from the COVID-19 pandemic, the hopes are for positive economic growth, however, it seems pandemic effects may stick around longer than most anticipated. Pressure is now being put on the Bank of Canada […]
Toronto home prices up 33% and the real estate market isn’t cooling anytime soon
Toronto’s hot real estate market isn’t showing any signs of cooling and a new report explains why. As we have seen from numerous real estate reports, home prices continue to skyrocket across Canada. Some believe Toronto’s bloated housing market is on the verge of popping, but not until mortgage rates increase and discourage future foreign […]
GTA rental prices mark sixth straight month of growth from two-year low
Rental prices in the Greater Toronto Area continue to trend upwards from the market’s two-year low that was recorded in early 2021. In its Toronto GTA Rent Report published this week, Bullpen Research & Consulting and TorontoRentals.com stated that rents increased in September for the sixth consecutive month, up from March’s low of $1,971. From […]
What labour shortages, inflation and supply chain headaches mean for builders, buyers
The new construction industry continues to grapple with rising trade costs in tandem with soaring commodity prices and Toronto could see building expenses climb higher this year. David Schoonjans, senior director of cost and project management at Altus Group, told Livabl that skilled labour shortages are an issue in many Canadian cities, which has been […]
Thousands of Ontario homeowners are eligible for a free smart thermostat and here’s how to get one
TORONTO — It’s going to cost Ontarians more to heat their homes if they use natural gas this year, as prices are expected to rise by about 15 per cent. Enbridge Gas said that homeowners could have to pay up to $44 more a year depending on where they live. That’s why, if you’re eligible, […]
August: Hottest. Condo. Market. Ever.
Never in the history of the Greater Toronto Area has there been a hotter August for condo sales. In the midst of a pandemic, the Building Industry and Land Development Association said sales jumped 35 per cent from a year ago and sat 129 per cent above the 10-year average. Single family home did less […]
Downtown Condos Rents Roaring Back
A major concern that the industry has had for nearly a decade is that the pace of new condo price growth has far exceeded condo rent growth. The chart below looks at the average price for new condos in postal codes M5A and M5V in Toronto (Downtown East, King West, Entertainment District), as well as […]
New Condo Pricing in the Central Downtown Core is up 10% Annually
Bullpen Research & Consulting works with big data from Buzzbuzzhome (BBH), America’s largest online marketplace for new construction homes, and monitors the average price of “popular” floorplans based on the thousands of monthly data points and pageviews. The chart above looks at the average price for the central downtown core based on the popular unit […]
Mortgage delinquency rates ease in Q2 – Equifax
Government support and payment deferrals played major roles in improving Canadians’ financial health, Equifax said Despite the end of payment deferral programs, Canadian mortgage delinquency rates declined from first-quarter highs in Q2, according to Equifax Canada. The 90+ day mortgage delinquency rate fell by 32.6% annually in Q2, while the rate for non-mortgage products dropped […]
Canada retail sales bounce back
Retail sales in Canada rebounded after falling earlier in the summer months, a reassuring sign that consumers continue to spend. The value of receipts rose 2.1% in August, according to preliminary results provided by Statistics Canada on Thursday in Ottawa. That more than offset a 0.6% decline in July. Retail sales are still below the […]
Over 4 In 5 Canadian Real Estate Markets Have Seen Price Growth Slow
Canada is in election mode, and all politicians have a plan to cool real estate markets. The thing is, most markets have begun to cool on their own. Canadian Real Estate Association (CREA) data shows a third of markets made a monthly pullback in July. The trend is likely to get stronger as well, as […]
Trudeau vows ban on foreign buyers
Prime Minister Justin Trudeau has promised to introduce a two-year ban on foreign home buyers and make the home purchasing process more transparent if re-elected. The Liberal Party leader told a crowd in Hamilton, Ontario that a Liberal-led government would “crack down on predatory speculators that stack the deck against you,” if returned to power […]
Prime prices exceed mainstream for first time since pandemic
Prime prices across 46 cities increased at an average rate of 8.2% in the year to June 2021, up from 4.6% in March. What’s happened? Until now, the pandemic-fuelled house prime boom was most evident in the mainstream market but the prime sector has now surged ahead. The mainstream market now lags behind with prices […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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