Tag: housing
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Canadian Rents Fall for the First Time in Over Two Years
For the first time since July 2021, Canadian rental prices have experienced a year-over-year decline. The October 2024 Rentals.ca Rent Report shows a 1.2% annual drop in average asking rents across Canada, with the national average now sitting at $2,152. The decline signals a potential shift in Canada’s rental market dynamics, especially in previously high-demand…
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Average Rent for a 2-Bedroom Apartment in Toronto Could Soar to $5,600 by 2032
Toronto’s rental market is set for a significant price surge, with predictions pointing to a staggering 72% increase in rent by 2032. A recent study from Concordia University forecasts that average two-bedroom rents in Toronto could reach $5,600 per month by 2032, a sharp rise from the current rates. In the nearer future, rents are…
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How much it costs to rent in Canadian cities right now
Rentals.ca just launched their October 2024 Rent Report and here’s everything you need to know. In September 2024, average asking rents across Canada for all residential property types saw a modest 2.1% increase year-over-year, reaching $2,193. This marks the smallest annual rent increase since October 2021, highlighting a slowdown in the rapid rent growth we’ve…
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Can Ontario Landlords Ban Pets? Know Your Rights as a Renter
Renting a home in Ontario is tough enough, but it gets even more challenging when landlords add ‘no pets’ clauses to rental agreements. Many renters believe these clauses are legally binding, but here’s the truth: in most cases, these rules are unenforceable. Ontario’s Residential Tenancies Act (RTA) Protects Renters with Pets Under Ontario’s Residential Tenancies…
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Here’s how long you need to save to afford a home in Ontario
As home prices continue to soar across Ontario, the prospect of homeownership becomes increasingly elusive for young renters. Despite a strong desire to own a home, many face daunting timelines—spanning years or even decades—before they can save enough for a down payment. A new study by real estate marketplace Point2Homes highlights this challenge, revealing that…
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Ontario Dominates New Ranking of Best Places to Live in Canada
Ontario continues to be a desirable place to live, as evidenced by a recent ranking where the province had seven locations featured among the top places to live in Canada. Despite some common complaints from residents, Ontario’s charm and livability have been recognized on a national level. Real estate listing site Zolo evaluated various factors…
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How Much Income You Need to Own a Home in Canada: June 2024 Update
A slight dip in interest rates in June improved home buying conditions for some Canadians, with affordability increasing in nearly half of the nation’s major markets. The latest Ratehub.ca affordability report, based on real estate data from May and June 2024, found that the required income to purchase a house lowered in six of the…
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Major Developers Join Toronto’s ‘Housing Now’ Initiative to Tackle Housing Crisis
The City of Toronto’s dedicated housing agency, CreateTO, recently provided an update on the ‘Housing Now’ initiative, revealing significant involvement from some of the city’s biggest developers. This collaboration aims to address the city’s housing shortage and affordability crisis. Notable developers like KingSett Capital, Greenwin, Tridel, Kilmer-Tricon, Ellis Don, and Windmill are key players in…
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1 in 5 Toronto Renters Spend Over Half Their Income on Rent, According to a New Report
Toronto’s housing market crisis is not limited to soaring home values that price residents out of ownership; renting is also becoming increasingly unaffordable. A recent report by Royal LePage reveals that nearly one in five Toronto renters now spend more than half of their monthly income on rent, highlighting the severity of the city’s affordability…
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Here’s What $1,000,000 Gets You in Toronto
When it comes to real estate, first impressions can be deceiving. Despite its unassuming exterior, the charming two-bedroom, two-bathroom bungalow at 226 Woodmount Ave. in Old East York offers a pleasant surprise. Step inside, and you’ll discover a bright, inviting home filled with modern updates and cozy spaces, making it a hidden gem in the…
Canada Housing Market 