CONDO SALES IN THE GTA WERE DOWN WHILE NEW LISTINGS REMAINED STEADY

TORONTO, ONTARIO, July 28, 2022 – The Greater Toronto Area (GTA) condominium apartment market followed a similar trend to the housing market as a whole in Q2 2022. With 5,687 sales, the Q2 result represented a decline of 35.2 per cent compared to Q2 2021. Over the same period, new listings remained flat at 14,316. […]

New GTA House Sales Down By 85% in June

New home sales in the Greater Toronto Area (GTA) continued to ease in June. According to a new report from the Building Industry and Land Development Association (BILD), the total new home sales of 1,694 units were down a notable 56% from June 2021 and 52% below the 10-year average. The data is generated by […]

Survey: Home prices remain on a strong growth trend

While interest rates have been on the rise for the past few months, the Canadian housing market continued to see price growth during the first six months of this year, according to the latest “Price Per Square Foot” survey by CENTURY 21 Canada. The increases were particularly notable in suburbs and smaller communities outside metropolitan […]

City of Toronto offers zero-interest loans, incentives to accelerate home retrofits and emissions reductions

Today, the City of Toronto announced the launch of an enhanced Home Energy Loan Program (HELP) that will offer zero-interest loans and incentives to help Toronto homeowners make their homes more energy-efficient and reduce the emissions contributing to climate change. The HELP program has been offering low-interest loans to homeowners since 2014. Currently, homes and […]

Revealed: The most and least expensive rental markets in Canada in July

Although there have been signs pointing to a cooling housing market, Canada’s rental markets have never been hotter as the majority of metro areas went up in monthly value in July, according to the Zumper Canadian Rent Report. Looking into 23 of the most populous metros, Zumper.com found that 18 metro areas experienced a monthly […]

Using your RRSP as a first-time home buyer: advantages and disadvantages

For first-time home buyers, it can feel intimidating when you want to try and buy a home. Beyond the work of seeing houses and facing competition in the market, you also simply need to have enough money saved to cover your down payment. Many first-time buyers are younger and haven’t had as much time to […]

What is mortgage default insurance?

You can get insurance for almost anything you own and often it is considered a very good idea to do so. Home insurance protects thousands every year from the financial cost of damage to their property and car insurance helps to cover the costs of unexpected auto collisions. If it’s an expensive replacement or repair, […]

Canada home prices – why they’re falling

House prices are set to continue falling across Canada as a result of the current market cooldown, with the only question being by how much, according to a well-known economist. Benjamin Tal (pictured), deputy chief economist at CIBC World Markets, told Canadian Mortgage Professional that the decline in value was likely to be most evident […]

National home sales, prices fall in April

The news marks the latest stage in Canada’s housing market cooldown National home sales and prices fell across Canada in April as the country’s housing market continued to cool following two years of record-breaking activity, according to the Canadian Real Estate Association (CREA). Home resales were down 12.6% across the country from March to April, […]

What is the average age of a first-time homebuyer in Canada?

Homeownership is one of the major values that many Canadians share. After all, it’s often seen as a major milestone in one’s life to be able to buy your first home. This is not surprising when you consider the many benefits of homeownership both financially and for quality of life. Among Canadians, it’s the older […]

The average price of a GTA condo has jumped $145K from Q1-2021

Condo buyers in the Greater Toronto Area might have noticed that the price of units have jumped considerably across the region this past year. New data released by the Toronto Regional Real Estate Board (TRREB) shows that there were double-digit annual price gains between Q1-2021 and Q1-2022. The average GTA condo apartment selling price increased […]

New construction GTA condos hit record price of $1.25 million in March

While the price of a new construction condo reached record highs in the Greater Toronto Area during March, sales in the region saw a change from the market’s “breakneck pace,” of the past few months. According to the latest information from the Building Industry and Land Development Association (BILD), there were 4,115 total new home […]

Ontarians on the Move, 2022 Edition. #4 -Housing completions did increase after the 2015 Ontario population boom, but mostly outside of Toronto.

Fourth in (what I hope) will be a series on population growth, migration, and what’s going on with Ontario’s housing market. TL;DR: Although housing completions did not keep up with population growth from 2015–19, they did increase. However, despite the GTA being the prime destination for international talent, the housing completion growth largely happened outside […]

Priced out of Ontario, which market are homebuyers turning their attentions to?

Homeownership is getting out of reach for many As Ontario’s sizzling real estate market puts home ownership out of reach for many Canadians, a growing number of prospective buyers are looking west in hopes of achieving their white-picket-fence dreams. Like newlyweds Vineet Mrug and Kushbu Mistry, who relocated to Calgary from their hometown of Toronto […]