News
Stay up-to-date with latest Toronto real estate market news.
Pervasive Interest Rate Challenges: Canadian Home Builders Experience 22% Project Cancellation Rate
67% of home builders and developers in the Canadian Home Builders’ Association network reported a reduction in construction output, and 22% have been compelled to entirely cancel projects, signifying a troubling trend of increasing project cancellations.
CREA Revises Canada’s 2023 and 2024 Home Sales Forecast
The Canadian Real Estate Association (CREA) has revised its 2023 and 2024 forecasts for the Canadian real estate market.
Strong Demand in The Housing Market Despite High Interest Rates
The Bank of Canada announced that interest rates have been raised by 0.5% points, reaching 3.5%, the highest level seen in 22 years. However, the Canadian housing market continues to display remarkable resilience.
Ontario Implements New Rent Cap Increase of 2.5% for 2024
In a recent announcement of the Ontario government, Municipal Affairs and Housing Minister Steve Clark revealed that Ontario landlords will be permitted to increase rent by up to 2.5 percent in the coming year.
The Commercial Real Estate Market in Canada is Starting to Normalize
The Canadian commercial real estate (CRE) market is showing signs of normalization as we head into the second half of 2023.
Canada's Household Debt Hits Alarming Heights, Surpassing GDP and G7 Nations
Canada’s household debt has reached alarming levels, surpassing the size of the country's economy and outpacing G7 nations. The ongoing rise in interest rates further exacerbates concerns about financial difficulties.
Amendments to Foreign Buyer Ban Now in Effect
In line with the implementation of the Prohibition on the Purchase of Residential Property by Non-Canadians Act, commonly referred to as the Ban on Foreign Homebuyers in Canada, the Government of Canada has announced a series of amendments to the legislation governing residential property purchases by non-Canadians, which are now in effect.
Toronto's Limited Housing Supply: A Never-Ending Challenge
The issue of tight housing supply in Toronto is not a new one. It has been an ongoing problem for years, with demand for homes constantly outpacing the supply of new listings.
Spring 2023 Outlook: Greater Toronto Area Real Estate Market
The Toronto housing market is rebounding, with a tighter market and increased competition among buyers driving home prices up.
The Benefits of Leasing a Live-Work Space for Small Business Owners
A live-work unit is a property that combines living and working spaces into one unit…
Subletting 101: The Benefits for Tenants & Landlords
Subletting can be beneficial for both tenants and landlords—here's why…
MNP LLP Appointed External Auditors of Westhaven REIT
Westhaven Real Estate Investment Trust ("Westhaven REIT") is pleased to announce that we have appointed…
Westhaven REIT Now Enrolling Precise ParkLink Employees in Group RRSP
Westhaven Real Estate Investment Trust (“Westhaven REIT”) is pleased to announce that we are now enrolling…
2023 Residential Rental Market Forecast: Where Is It Heading?
2022 had several waves of trends in the rental market. In Early Q1 & Q2, interest rates…
Westhaven REIT Announces the Purchase of a Mortgage to Boost Yield for Investors
Westhaven Real Estate Investment Trust (“Westhaven REIT”) is pleased to announce the acquisition of a mortgage for a residential property located in Mississauga, ON.
Westhaven REIT Portfolio Becomes RRSP-Eligible
Westhaven Real Estate Investment Trust (“Westhaven REIT”) is pleased to announce that all units within the Westhaven REIT portfolio are now RRSP-eligible…
Tribunals Ontario Portal Now Offering New Features for Users
Tribunals Ontario has made some intuitive updates to its user portal, including a…
Westhaven REIT Announces the Acquisition of 74, 80 & 84 Trethewey Drive in Toronto, Ontario
The Westhaven Group is pleased to announce the acquisition of 74, 80 and 84 Trethewey Drive as part of the Westhaven Real Estate Investment Trust (“Westhaven REIT”) portfolio.
Westhaven REIT Appoints Saverio Nestico as President and Chief Investment Officer
The Westhaven Group is proud to announce that Saverio Nestico, MBA, CPA, has been appointed as President and Chief Investment Officer (CIO) for Westhaven Real Estate Investment Trust (“Westhaven REIT”).
Westhaven Group Announces the Launch of Westhaven REIT
The Westhaven Group is proud to announce the launch of Westhaven Real Estate Investment Trust (REIT)…