Tag: ontario housing market
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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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Ontario Is Introducing New Rules For Real Estate Brokerages After The iPro Realty Scandal
Ontario is tightening oversight of real estate brokerages following one of the biggest scandals to hit the province’s real estate industry in recent years. The Real Estate Council of Ontario (RECO) announced new financial reporting requirements that will require brokerages to submit annual financial filings beginning October 1, 2026. The changes come less than a…
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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,…
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This Toronto Condo Project Sold 75% Of Units While Others Are Being Cancelled
As Toronto’s condo market continues to struggle with weak sales, project cancellations, and growing inventory, one developer has managed to do what many others currently can’t: secure enough buyers to start construction. Developer Canderel officially broke ground this week on Forêt Forest Hill, a three-tower condominium development at the corner of Bathurst Street and St.…
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Canada’s Housing Market Is Showing Signs Of Life After A Slow Start To Spring
Canada’s housing market may finally be gaining momentum after a sluggish start to 2026. New data from the Canadian Real Estate Association (CREA) shows national home sales jumped 5.5% between April and May, marking the strongest month-over-month increase so far this year. The rebound comes after months of weak activity that left many wondering whether…
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Canadian Home Sales Jumped 5.5% In May But Home Prices Are Still Falling
Canada’s housing market showed signs of life in May, with home sales posting their largest monthly increase this year. However, despite the surge in activity, home prices continue to trend lower across much of the country. New data from the Canadian Real Estate Association (CREA) shows national home sales rose 5.5% between April and May…
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CMHC Says Development Charges Can Add Over $100K to New Homes
New homes in Canada are expensive for many reasons, from land costs and labour shortages to financing, materials, and taxes. But one cost is getting more attention from housing experts: development charges. According to Canada Mortgage and Housing Corporation, development charges can add $40,000 to more than $100,000 to the cost of a new home…
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Canadian Housing Starts Fell 6% in May as Supply Concerns Continue
Canada’s housing construction pulled back in May, raising fresh questions about whether the country is building enough homes to improve affordability. According to Reuters, citing new data from Canada Mortgage and Housing Corporation, Canadian housing starts fell 6% in May from the previous month. The seasonally adjusted annualized rate dropped to 261,377 units, down from…
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What the Bank of Canada’s Latest Rate Hold Means for Housing
The Bank of Canada has held interest rates steady again, leaving many Canadian homebuyers wondering whether mortgage relief is actually coming this year. On June 10, 2026, the Bank of Canada held its target for the overnight rate at 2.25% for the fifth consecutive meeting. The Bank Rate remains at 2.5%, while the deposit rate…
