Category: Uncategorized
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Mid-Q4: Toronto Rent Prices Fall 9.4% Yearly
Toronto rents hit a 28-month low in November, with average rent falling to $2,640. Toronto’s studio rent ↓ 7%, reaching an avg of $1,932, while one-bedroom rent ↓ 8%.
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How Do Immigration Cuts Relieve Housing Market?
Canada’s housing market will face slower growth due to a 0.2% annual population decline over two years. The country's population is expected to shrink from 41.3 million in 2024 to 41.1 million in 2026.
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BoC Cuts Rate to 3%
The Bank of Canada reduced the key interest rate by 25 basis points, bringing it to 3%. Economic uncertainty played a significant role in the rate cut. The next interest rate decision is scheduled for March 12, 2025.
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GTA Buyers Secure Homes Below Asking Prices
In November 2024, 75% of GTA homes sold for less than the asking price, up from 70% in October. Despite some competition, buyers continue to secure homes for lower prices than listed, especially in Toronto.
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Ontario First-Time Home Buyer Guide
First-time home buyers in Ontario face significant challenges due to high living costs, low housing supply, and elevated home prices, with averages exceeding $865,000 province-wide and over $1,000,000 in Toronto. Various assistance programs exist, including land transfer tax refunds and down payment loans, but they may not drastically alleviate affordability issues. Buyers should understand local…
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Happy Lunar New Year
恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…
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Toronto Office Vacancy Hits 18.6%, Peaking in 2025
Toronto's office vacancy rate stands at 18.6%, driven largely by older buildings struggling for tenants. Office vacancy is expected to peak in early 2025, marking the end of the remote work adjustment.
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GTA condo buyers gain leverage as inventory outpaces sales
Homebuyers in the Greater Toronto Area (GTA) are gaining negotiating power as new listings surged in 2024, outpacing sales and increasing inventory. This trend is expected to continue into 2025, benefiting first-time buyers due to declining borrowing costs. TRREB reported a 2.6% rise in home sales and a 16.4% increase in new listings, while the…
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Town planners give thumbs down to the province’s tall tower proposal for Midtown
An 88-page report from Oakville's planning staff critiques the province's proposal for 11 residential towers near the Oakville GO station, citing concerns over density, traffic, flooding, and lack of community benefits. The plan, which allows for 6,900 condo units, is seen as excessively residential and lacking necessary infrastructure and parkland. Town council has not yet…
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Milton Market Update