News
Stay up-to-date with latest Toronto real estate market news.
Federal Governments 2024 Budget Unlocks New Pathways for Young Renters to Become Homeowners
By addressing the housing affordability crisis in Canada, the federal government unveiled its annual budget, ushering in a wave of initiatives aimed at empowering millennial and Gen Z renters to transition into homeownership…
What is Landlord Insurance?
Whether you’re a renter or a landlord, there are different coverages in each to be aware of…
Toronto Housing Market Set to Surpass Vancouver's by the End of 2024
The latest projections from Royal LePage Real Estate Services Ltd., a trusted and renowned authority in the real estate industry, indicate a significant surge in Toronto's housing market…
Toronto Council Considers Turning Parking Lots into Affordable Housing
The Toronto City Council is contemplating a bold initiative to address the pressing issue of affordable housing by repurposing underutilized parking lots…
CMHC: Canadian Home Prices Predicted to Reach New High by 2026
The Canada Mortgage and Housing Corp. (CMHC) has released a forecast indicating a significant spike in Canadian home prices in the coming years…
CMHC Discontinued First-Time Homebuyer Incentive
Amid growing concerns about Canada's housing market, the Canada Mortgage and Housing Corporation announced the discontinuation of the first-time homebuyer incentive in March 2024 due to criticisms of its ineffectiveness…
Government Extends Foreign Property Buyer Ban Until 2027
To tackle the persistent housing affordability crisis, the Government of Canada has extended the ban on foreign property buyers for two years, until January 1st, 2027…
International Student Visa Cap Influences Rental Market Shift
The Canadian rental market has experienced significant shifts due to the influence of international student visa caps, leading to noteworthy trends impacting landlords and tenants…
Toronto Proposes a 10.5% Increase in Property Tax for 2024 Budget
The City of Toronto is proposing a 10.5% increase in property tax for the 2024 budget…
The Ongoing Surge in Mortgage Payment rates
Despite interest rates being held at 5%, homeowners are poised to face higher debt-servicing costs for an extended period.
No Shifts in Sight: Bank of Canada Holds Interest Rate at 5%
In a recent announcement, the Bank of Canada has chosen to maintain the status quo, keeping the key interest rate stable at 5%.
Canadian Housing Market Outlook in 2024
Looking ahead to the Canadian housing market in 2024, experts and analysts anticipate a gradual recovery, driven by stabilized interest rates and a return in demand. Learn more about the market updates.
The Immigration Boom: Reshaping the Canadian Real Estate Market
Canada is currently experiencing a historic immigration boom that is fundamentally reshaping the country's real estate landscape. Learn how…
Full GST Rebate for New Rental Developments Focused on Strengthening Canada's Housing Stock
The federal government of Canada has taken a substantial step toward addressing the housing crisis by announcing a full Goods and Services Tax (GST) rebate for new rental developments. Learn more about the new policy.
City of Toronto Enforces Measures to Tackle Budget Deficit
In response to a financial crisis, the City of Toronto has embarked on a mission to strengthen its fiscal foundation. Faced with immediate and long-term challenges, the Canadian government has introduced measures to bolster the city's financial resilience.
Housing Is Costing Ontario Its Edge
The recent correction of the Canadian real estate market has given hope to young adults, but the Greater Toronto Area (GTA)'s housing remains unattainable for most. Despite a potential 30% price drop in a deep recession, affordability remains a pressing issue, causing Ontario’s youth to seek more affordable options in other provinces.
National Office Vacancy Rate Predicted to Peak in 2024
According to Colliers Canada's recent National Market Snapshot, a surprising 93% of this year's new office supply has poured into downtown regions, resulting in a downtown office vacancy rate of 15%.
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.