Tag: housing affordability
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Here’s How Much Your Monthly Mortgage Payment Has Changed Since Interest Rates Peaked
Mortgage rates may still feel high compared to the ultra-low rates of 2021, but borrowing costs have improved significantly from their recent peak. After the Bank of Canada aggressively raised interest rates to fight inflation, many Ontario buyers hit pause on their home search. Today, with the Bank of Canada’s policy rate sitting at 2.25%,…
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Ontario Cities Ranked From Cheapest To Most Expensive For Homebuyers In 2026
Ontario’s housing market looks very different than it did just a few years ago. While home prices remain elevated in many parts of the province, the correction that began in 2022 has created larger affordability gaps between Ontario’s most expensive and most affordable cities. Today, buyers willing to look beyond the Greater Toronto Area can…
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Calgary Is Becoming More Affordable For Homebuyers, But It Still Lags Other Alberta Cities
Buying a home in Calgary is becoming more affordable, according to a new report from Royal LePage. However, the city still trails several other Alberta markets when it comes to overall affordability. The report found that while housing costs have become more manageable over the past two years, Calgary remains outside Canada’s top 15 most…
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Homes Under $500,000 Are Making A Comeback In Ontario, But There’s A Catch
Affordable homes are becoming more common across Ontario’s housing market, but the improvement is being driven largely by one segment: condominiums. A new report from the Municipal Property Assessment Corporation (MPAC) found that homes valued under $500,000 now make up nearly one-quarter of Ontario’s housing market, marking a notable increase from just a few years…
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This Alberta City Was Just Named Canada’s Most Affordable Place To Buy A Home
As housing affordability continues to challenge buyers in Canada’s largest cities, one Alberta community has claimed the title of the country’s most affordable place to purchase a home. A new report from Royal LePage ranked Lethbridge, Alberta, as Canada’s most affordable city for homeownership based on the percentage of household income required to cover mortgage…
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Canada’s Plan To Buy Unsold Condos Is Sparking Debate Over A Potential Developer Bailout
The federal government’s plan to purchase thousands of unsold condominiums in British Columbia is generating both support and criticism as Canada’s housing slowdown continues. Prime Minister Mark Carney recently announced a partnership with the Government of British Columbia to convert more than 2,200 vacant condominium units into affordable housing. Supporters say the plan could quickly…
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Toronto’s Condo Crash May Not Bottom Until 2028, TD Warns
Toronto’s condo market continues to struggle through one of its deepest and longest downturns in decades, with some economists warning the correction could continue for years. A new report from TD Economics projects Greater Toronto Area condo prices may not begin a sustained recovery until 2028. The bank estimates prices could ultimately fall between 25%…
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Ontario’s HST Rebate Is Helping Boost New Home Sales In The GTA, Industry Says
Ontario’s new HST rebate appears to be giving the Greater Toronto Area’s struggling new home market a much-needed boost. New data released by the Building Industry and Land Development Association (BILD) shows new home sales remained stronger than expected in May, marking the second consecutive month that low-rise home sales outperformed their 10-year average. Industry…
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More Than Half Of GTA Residents Would Leave Toronto For A Cheaper City, New Poll Finds
For many Canadians living in the Greater Toronto Area, homeownership may increasingly depend on leaving the region altogether. A new survey conducted on behalf of Royal LePage found that 55% of GTA residents would consider moving to a more affordable Canadian city if they were able to secure employment there. The findings highlight the growing…
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Toronto’s Condo Slump Could Last Years As Thousands Of Units Flood The Market
Toronto’s condo market may face a prolonged slowdown as thousands of newly completed and under-construction units continue entering a market already struggling with weak demand. Industry experts speaking during a recent Urban Land Institute (ULI) Toronto webinar said the Greater Toronto and Hamilton Area (GTHA) condo market remains under significant pressure from elevated inventory levels,…
Canada Housing Market 