Category: Uncategorized
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Greater Toronto Market Update
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Understanding the Factors Behind the Drop in GTA Home Sales
GTA home sales fell by 16.4% in June 2024, with 6,213 homes sold compared to June 2023.New listings increased by 12.3% year-over-year, reaching a total of 17,964.
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Where to Find the Lowest Property Taxes in the GTA in 2024
Mississauga had the highest property tax rate increase at 7.39%, followed by Toronto at 7.36% and Scugog at 6.78%. Despite rate increases, Mississauga’s taxes ($9,466) are lower than Pickering ($12,239) and Whitby ($12,629) with similar home prices.
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Ontario 2027: Forecasting High-Rise Supply
ON is focusing on building more high-rise units than low-rise. Condo builds take 4-5 yr, current sales affect 2027-2028 supply.
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Toronto Home Sales See First Gain Since January
Toronto home sales increased by 4.2% in June, the first rise in five months, following the Bank of Canada's interest rate cut. Despite a 9.3% increase in listings, benchmark prices rose by 0.4% to C$1.09 million. The market remained subdued compared to previous years, with sales down 16.4% from June 2023. The shifting supply-demand balance…
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Ontario Towns Claim CMHC Undercounted Starts
Ontario saw ↑23% in housing starts in Mid-Q2 yearly. Despite the increase, 2024's overall housing starts ↓6% yearly.
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Ontario: Buyer’s Market Emerges as Inventory Levels Rise
Ontario's growing Real Estate inventory is giving homebuyers more power in negotiations.
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Ontario Homeowner’s Guide: Warranty vs. Insurance
In Ontario, newly built homes come with a warranty supported by Tarion, a government-established consumer protection organizationUnlike home insurance, the new home warranty focuses on post-purchase risks and defects after completion.
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Toronto City Council approves partnership to build more affordable housing in midtown Toronto
Toronto City Council approved the development of 447 new purpose-built rental homes at 275 Merton St., with 30% to be affordable in perpetuity. The City partnered with Collecdev-Markee to combine the property with an adjacent site, aiming to address the lack of affordable housing in Toronto. Construction is set to start in 2025, with completion…
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GTA Home Construction Stalled by Bureaucracy
Taxes, fees, and levies account for 31% of new home costs. Approval processes add months to building projects.