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Market Update New Actions To Build Secondary Suites Deputy Prime Minister announces new actions to build secondary suites and unlock vacant lands to build more homes From: Department of Finance Canada News Release Ottawa, Ontario (October 8, 2024) – To address Canada’s housing shortage, the federal government is taking steps to unlock underutilized properties. This includes making it easier for homeowners to add secondary […]
Market Update GTA Home Sales Surge in October 2024 as Market Tightens Toronto Regional Real Estate Board (TRREB) data reveals a significant year-over-year increase in GTA home sales for October 2024. While new listings also rose, the pace was slower, leading to tighter market conditions compared to the previous year. Despite a slight annual increase in the average selling price to $1,135,215, TRREB President Jennifer Pearce attributes […]
Bank of Canada reduces policy rate by 50 basis points to 3¾% Bank of Canada Cuts Interest Rates For The Fourth Time This Year So Far! Today, the Bank of Canada lowered its key interest rate to 3¾%. This means the Bank Rate is now at 4%, and the deposit rate is also at 3¾%.  Inflation has been on the decline, with the Consumer Price Index […]
General Info Embracing the Autumnal Charm: Decorating Your Home for the Season Introduction Autumn is a season of transformation, where nature paints the world in hues of red, orange, and gold. As the leaves change color and the air becomes crisp, it’s the perfect time to cozy up indoors and create a warm and inviting atmosphere. By incorporating autumnal elements into your home decor, you can transform […]
The Bank of Canada Unveils Reconciliation Action Plan FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario September 23, 2024 Today, the Bank of Canada introduced its inaugural Reconciliation Action Plan, a blueprint for strengthening its relationship with Indigenous Nations and Peoples. The plan outlines the Bank’s commitment to fostering an inclusive workplace, championing Indigenous economic development, and building a deeper understanding of Indigenous economies […]
Property Update Transitional Home for a Growing or Multigenerational Family in Markham Markham, Ontario is a vibrant and growing city located in the Greater Toronto Area. Known for its diverse community, Markham offers a high quality of life with excellent schools, parks, and recreational facilities. The city boasts a thriving economy, with a mix of residential, commercial, and industrial sectors. Markham is also home to a variety […]
Industry Update Navigating the Fall Market: Opportunities for Homebuyers in Ontario As autumn approaches, Ontario’s real estate market presents promising opportunities for prospective homebuyers. Recent trends indicate a favorable shift, with property prices having softened slightly compared to last year and overnight interest rates seeing a decrease to 4.25%. Furthermore, experts suggest that rates might continue to decline throughout the rest of the year. Why Now […]
Market Update GTA Housing Market Becoming More Affordable – August Market Stats TORONTO, ONTARIO, September 5, 2024 – Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023. “The Bank of Canada’s rate […]
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And it happened again, Bank of Canada reduces policy rate by 25 basis points to 4¼% The Bank of Canada’s Rate Cut – Wednesday September 4, 2024 The Bank of Canada has once again adjusted its monetary policy. In a move aimed at stimulating economic growth and combating inflationary pressures, the bank has reduced its target for the overnight rate to 4¼%. This decision is part of a broader strategy to […]
The Ultimate Hedge Against Inflation Here are some stats on the benefits of home ownership. For example, let’s say you have a $500,000 30-year mortgage with an 8% interest rate. Your monthly payment would be approximately $3,700 a month. Making one extra payment of $3,700 a year would cut your mortgage by 7 years and save you up to $220,000 […]
Is Your Home the Right Size for You? It’s rare for most people to remain in the same home throughout their adult lives. Sometimes, a growing family needs a larger home. Or it could be kids moving out on their own, leaving parents with a space that’s too big for their lifestyle. Choosing to upsize — or downsize — can be an emotional, […]
Market Update GTA Home Sales Up in July, but Buyers Still Benefit from Increased Choice Get an Instant FREE Home Value Estimate in 10 seconds at QuickHomeValues.ca TORONTO, ONTARIO, August 6, 2024 – The Greater Toronto Area (GTA) housing market saw an increase in sales compared to July 2023. While this is positive news, buyers continue to have more options due to a significant rise in new listings. As a […]
After 10 Interest Rates Increases, We now are on our 2nd decrease to 4.50% Monetary Policy Decision The Bank of Canada today lowered its policy interest rate by 25 basis points. The overnight rate target is now 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank will continue to normalize its balance sheet. Global Economy Global economic growth is projected to remain steady […]
June 2024 Market Statistics – GGH (Greater Golden Horseshoe) Greater Golden Horseshoe Real Estate Report by Gerald Lawrence
Industry Update Changes To The Canadian Capital Gains Tax This summary is for informational purposes only and should not be considered tax or legal advice. Always consult a qualified professional before making financial decisions based on this information. Key Federal Budget Capital Gains Measures Change: Effective June 25, 2024, the capital gains inclusion rate will increase from 50% to 66.67% for trusts and corporations. […]
Market Update Home Buyers Experience Less Competition in May The Toronto real estate market continued to see lower home sales in May 2024 compared to the previous year. This comes after a brief market upswing in the spring of 2023. Potential buyers are waiting for mortgage rates to come down before entering the market. There’s some optimism, however. The number of new listings has […]
Market Update 1st Interest Rate Cut by the Bank Of Canada in 4 Years Bank of Canada reduces policy rate by 25 basis points FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario June 5, 2024 The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet […]
General Info Proposed Homeowner Protection Act, 2024 (Ontario, Canada) Ontario Homeowners’ Protection Act 2024: Strengthening Consumer Protections and Preserving Heritage The Ontario government is taking significant steps to bolster consumer protections for homeowners and homebuyers through a series of legislative measures aimed at curbing harmful business practices. In addition to ensuring that homebuyers can make well-informed decisions, the province is also focusing on preserving […]
Statistics Selling Prices Up in March and Set to Accelerate This Spring   TORONTO, ONTARIO, April 3, 2024 – The latest report on March 2024 home sales, facilitated through TRREB’s MLS® System, reveals a slight dip compared to the same period in 2023. This decrease can be attributed in part to the timing of the statutory holiday Good Friday, which fell in March this year as opposed […]
York Region Market Update – February 2024
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