Toronto's real estate market has been all over the place in recent months, with contradicting trends and forecasts leaving prospective buyers and sellers more confused than ever. Traditionally, May represents the peak of sales and prices in the Toronto-area real estate market. This year may be different. A brisk start to April lost some steam in the second half of the month as buyers remain steadfastly opposed to getting swept up in any mania…
Read moreMARKET UPDATE FOR APRIL 2024
GTHA Rental Market Update: Condo Rents Down 7.4% in Q1-2024
The first quarter of 2024 brought some relief for renters in the Greater Toronto Hamilton area (GTHA) with condo rents down 7.4% in the first quarter of the year. According to new data from research firm Urbanation, condo rents in the GTHA slipped down to an average of $2,732 a month. This follows a record high of $2,929 in Q3-2023 and marks the largest six-month decrease recorded during the past 15 years of data tracking outside of the pandemic period in late 2020 and early 2021…
Read moreToronto Condo Sales Plummet: Investor Hesitation Amid Soaring Prices
New condo sales in the Toronto region have dropped to their lowest level since the 2009 financial crisis, with investors hesitating because of the lofty prices and higher borrowing costs. A Monday news release from the market research firm Urbanation has counted 60 projects across the Greater Toronto and Hamilton Area (GTHA), that are delayed— meaning they were slated for launch and began releasing promotional materials but have since been put on hold…
Read moreFederal Budget's Capital Gains Tax Hike: Impact on Middle-Class Canadians
Middle-class Canadians may still feel the impact of the federal budget’s increase to capital gains taxes, even though the government claims the adjustments will primarily target the wealthiest individuals. In the 2024 budget unveiled Tuesday, Finance Minister Chrystia Freeland said the government would increase the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts, generating an estimated $19 billion in new revenue…
Read moreUnlocking Homeownership: Canada's New Housing Affordability Measures Explained
Deputy Prime Minister and Finance Minister Chrystia Freeland announced a number of housing affordability measures Thursday that she said will help buyers get their first homes and help current homeowners afford the homes they have. "I really hope and believe the specific measures we announced today are going to provide a lot of comfort and a lot of hope to young Canadians."…
Read moreMarch 2024 Toronto Home Sales Report: Prices Up, Sales Down
March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to spring break for the schools and the statutory holiday Good Friday falling in March this year versus April last year…
Read moreMARKET UPDATE FOR MARCH 2024
Toronto's Fourplex Housing Proposal: City Council Approved, Doug Ford Rejects
Multiplexes of up to four residential units can now be built in all neighbourhoods across Toronto after approval from city council, a move intended to increase low-rise housing options in existing communities. And yesterday Doug Ford said, “It's off the table”…
Read moreCanada's Rental Prices Soar: Latest Report Reveals Record Highs
A new report released this week says the average asking price for a rental unit in Canada was $2,193 per month in February, up 10.5% year-over-year and the fastest annual growth since September 2023. The data released Monday by Rentals.ca and Urbanation, which analyzes monthly listings shows the average monthly cost of a one-bedroom unit in February was $1,920, up 12.9% from the same month in 2023…
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