General Info • April 24, 2025

10 Powerful Ways to Build Canadian Credit Fast as a Newcomer

by Gerald Lawrence

How to Build Canadian Credit as a Newcomer

Relocating to a new country comes with its own share of exciting opportunities and practical challenges. One of the most crucial tasks for any newcomer to Canada is learning how to build Canadian credit as a newcomer. Your credit score can open doors—or close them. From getting your first apartment to financing your future home, your credit history is a powerful tool in your new life.

So, how can you, as a newcomer with no Canadian credit history, build a strong credit score from scratch? It’s easier than you think—but only if you take the right steps from the beginning.

Understanding the Canadian Credit System

Before you can build credit, you need to understand what it is. In Canada, your credit report is a detailed record of how you’ve used credit over time, while your credit score is a number that summarizes your creditworthiness. The higher the score (which ranges from 300 to 900), the better.

There are two major credit bureaus in Canada: Equifax and TransUnion. They collect and maintain your credit information, and you have the right to request your credit report from both for free.

Why Credit History Matters in Canada

In Canada, your credit history influences more than just your ability to borrow money. It can affect:

Rental approvals
Employment offers
Insurance rates
Interest rates on loans

Having no credit is almost as limiting as having poor credit, so building it should be a priority.

Get Started: Apply for a SIN and Bank Account

Your Social Insurance Number (SIN) is your gateway to almost all financial activity in Canada. Get it as soon as possible, then open a Canadian bank account. Many banks offer newcomer packages that include low-fee accounts and advice tailored to immigrants.

Get a Secured Credit Card

This is the single most recommended tool for newcomers. A secured credit card requires you to put down a refundable deposit that acts as your credit limit. As you use the card and make payments on time, your credit score begins to build. Some of the best providers for secured cards include:

Capital One Guaranteed Mastercard
Home Trust Secured Visa
Neo Financial Secured Card

Become an Authorized User

If you have a trusted family member or friend with good credit, ask them to add you as an authorized user on their credit card. Their positive history will help build your own, though not all lenders report authorized user activity—check first.

Try a Credit Builder Loan

A credit builder loan is like a savings plan that builds your credit. You “repay” the loan monthly, but the funds are held in a locked savings account until the term ends. Once done, you receive the full amount, and your positive payment history is reported to the credit bureaus.

Always Pay On Time and Keep Balances Low

Credit scoring models heavily favor on-time payments and low credit utilization (ideally under 30%). Even one late payment can lower your score significantly.

Use autopay features or calendar reminders to stay on top of your bills.

Check Your Score Regularly

Knowing your score is half the battle. You can check your Canadian credit score and report for free using tools like:

Credit Karma Canada
Borrowell
Equifax/TransUnion (annually)

Avoid These Common Mistakes

Newcomers often fall into traps such as:

Applying for too many credit products at once
Maxing out credit cards
Closing old accounts too soon

Avoid these, and your score will rise steadily.

Use Utility and Cell Phone Bills to Your Advantage

Some services now allow you to report on-time utility or cell phone payments to credit bureaus. Look into programs like Rent Advantage or KOHO Credit Building for this purpose.

Keep Building Over Time

Building credit is a marathon, not a sprint. Keep your accounts open, diversify your credit types, and stay consistent. In time, you’ll be eligible for lower-interest loans, better credit cards, and larger financial opportunities.

Frequently Asked Questions

How long does it take to build credit in Canada as a newcomer?
With consistent habits, you can begin seeing a credit score in as little as 3 to 6 months. A good score typically takes 12+ months to develop.

Can I transfer my credit history from my home country to Canada?
Usually no. Canadian credit bureaus do not recognize international credit history. You must start fresh.

Do all landlords and employers check credit scores in Canada?
Not all, but many do—especially in major cities. A good credit score boosts your credibility.

Is a credit score of 650 good in Canada?
Yes, 650 is considered fair. A score above 700 is good, and 750+ is excellent.

Will checking my credit score lower it?
Not if you use soft checks like Borrowell or Credit Karma. Hard inquiries from loan or card applications can lower it slightly.

What’s the best first credit card for newcomers in Canada?
The Home Trust Secured Visa and Neo Secured Card are great starters. Look for cards with low fees and no income requirements.

Conclusion

Building credit in Canada as a newcomer isn’t just possible—it’s highly achievable with the right knowledge and tools. By starting with secured cards, making timely payments, and using tools designed for immigrants, you can build a strong financial foundation that supports your new life in Canada.

Remember, your credit score is a reflection of your financial habits. Keep them clean, consistent, and controlled, and the opportunities in your new homeland will follow.

Best Banks for Newcomers to Canada
How to Save Money as a New Immigrant
Guide to Renting in Canada

Property Update • April 17, 2025

✨ For Sale: Majestic 4-Bedroom Home in Uxbridge’s Prestigious Gated Community with Golf Membership!

by Gerald Lawrence

Welcome to 19 Forestgreen Drive, an exquisite estate nestled within the prestigious gated community of The Estates of Wyndance in Uxbridge, Ontario.

This luxurious Sheffield model home, perched atop the community's highest point, offers unparalleled privacy and breathtaking panoramic views.

Situated on the largest lot in the neighborhood, spanning 1.17 acres, this residence epitomizes elegance and sophistication.

Exceptional Design and Craftsmanship

Step inside to discover a harmonious blend of classic design and modern amenities. The main level boasts hardwood floors, wainscoting, and intricate tray and waffle ceilings, creating an ambiance of refined luxury.

The gourmet kitchen is a chef's dream, featuring top-of-the-line stainless steel appliances, granite countertops, and a spacious center island.

Adjacent to the kitchen, the breakfast area opens to an expansive covered deck, perfect for enjoying picturesque skyline views.

The living room, adorned with a captivating double-sided gas fireplace, offers a cozy retreat for relaxation.

Spacious and Versatile Living

This 2-storey home encompasses 4 bedrooms and 4 bathrooms, providing ample space for family and guests.

The primary bedroom features a 5-piece ensuite and his-and-hers closets, while additional bedrooms offer generous proportions and access to well-appointed bathrooms.

The walk-out basement presents an opportunity to create an in-law suite, complete with space for up to two additional bedrooms, a full kitchen, living area, and a pre-existing rough-in for a 4-piece bathroom.

The three-car tandem garage ensures ample space for vehicles and storage needs.

Exclusive Community Amenities

Residents of The Estates of Wyndance enjoy a host of premium amenities, including:

Two-(2) gated entrances with a security gatehouse
Paved & lit walking trails
Two-(2) ponds with water features
Basketball and tennis courts
A charming gazebo and paved walking paths
A postal outlet within the community
A lifetime Platinum-level golf membership at the adjacent Clublink Golf Course

Monthly fees of $553.91 cover water, sewer, snow clearing of roads, road maintenance, landscaping, community fencing, street and park lights, insurance, and access to the aforementioned facilities.

Prime Location

Located in Rural Uxbridge, this home offers the tranquility of country living with convenient access to nearby amenities.

The area boasts over 220 kilometers of seasonally managed trails, attracting cyclists, hikers, and nature enthusiasts.

Nearby schools include Uxbridge Secondary School and Stouffville District Secondary School, providing excellent educational opportunities for families.

Property Video

Community Video

Investment Potential

This property represents a significant investment in a rapidly appreciating area.

Uxbridge has seen a consistent population increase in recent years, as more potential buyers discover the tranquil way of life found in such a scenic place.

Schedule Your Private Tour Today

Don't miss the opportunity to own this exceptional property. Contact me today to schedule a private tour and experience the unparalleled luxury of 19 Forestgreen Drive. Your dream home awaits.

The real estate market inside scoop for the community you love. See homes that are for sale and have recently sold. Find out if home sales in your neighbourhood are trending up or down. See what homes around you are currently selling for.

Market Update • April 16, 2025

RATE HOLD! Bank of Canada Interest Rate Announcement – April 16, 2025

by Gerald Lawrence

Bank of Canada Holds Steady Amid US Trade Turmoil: Decoding the Latest Monetary Policy Report

The Bank of Canada, in its announcement on April 16, 2025, elected to maintain its target for the overnight rate at 2.75%, alongside the Bank Rate at 3% and the deposit rate at 2.70%.

This decision arrives at a pivotal moment for the Canadian economy, as it grapples with the significant and unpredictable shifts in United States trade policy, which continue to cast a shadow of uncertainty over economic prospects.

The April Monetary Policy Report (MPR), released concurrently, underscores the substantial challenges in forecasting GDP growth and inflation for both Canada and the global economy amidst this evolving trade landscape.

The report outlines two distinct scenarios that explore potential future paths, contingent on the direction of US trade policy.

🛍️ Recommendation for Buyers:

With the Bank of Canada holding its key interest rate, mortgage rates may remain relatively stable in the short term, offering buyers a chance to breathe and plan strategically. This is an opportune moment to:

Get pre-approved while fixed-rate options remain appealing.
Take advantage of less volatility in borrowing costs, especially if you’ve been sitting on the sidelines waiting for clarity.
Act early if you’re eyeing a property—if inflation cools further, rates may begin to decline, sparking increased competition.

📌 Tip: Locking in a rate hold with your lender now can shield you from potential upticks while giving you time to shop with confidence.

🏡 Recommendation for Sellers:

For sellers, a rate hold brings welcome stability to the market. Buyers are less hesitant, and there’s reduced fear of sudden rate hikes derailing deals. This creates an environment where:

Buyer confidence is likely to improve, especially in the entry-to-mid level segments.
You may benefit from a more predictable negotiation landscape with fewer financing surprises.
Listing sooner rather than later could help you get ahead of any surge in inventory should rates eventually drop.

📌 Tip: Work with a REALTOR® (yes, like me 😄) to position your home competitively and highlight value—especially with buyers now able to stretch their budgets a little further.

On April 16, 2025, the Bank of Canada decided to keep its benchmark interest rate unchanged at 2.75%. This move follows a series of seven consecutive reductions in the key rate, implemented to support economic activity as trade tensions began to escalate.

The Bank Rate was held at 3%, and the deposit rate remained at 2.70%. This decision to pause rate cuts was anticipated by a slight majority of economists, reflecting the delicate balance the central bank must strike between supporting growth and managing potential inflationary pressures stemming from trade disruptions.

The next scheduled announcement regarding the overnight rate target is set for June 4, 2025. The Bank's decision to refrain from further easing monetary policy at this time suggests a cautious stance, allowing policymakers to observe how the unfolding trade situation impacts the Canadian economy.

This approach acknowledges the limitations of monetary policy as a tool to directly address the uncertainties inherent in international trade disputes.

"The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%."

The significant reorientation of US trade policy and the unpredictable nature of tariffs have injected a high degree of uncertainty into the economic outlook, both domestically and internationally.

This unpredictability has diminished the prospects for robust economic growth and has simultaneously elevated expectations for inflation. The financial markets have reacted sharply to the stream of tariff-related announcements, including implementations, postponements, and ongoing threats of further escalation, contributing significantly to the prevailing atmosphere of uncertainty.

This environment of pervasive uncertainty poses considerable challenges for accurately forecasting the trajectory of GDP growth and inflation, not only for Canada but for the global economy as a whole.

The interconnectedness of the Canadian and US economies amplifies the impact of these policy shifts, creating a climate where businesses and consumers alike are hesitant to make long-term commitments, potentially leading to a deceleration in economic activity.

In light of the significant uncertainty surrounding US trade policy, the April MPR presents two illustrative scenarios to explore potential economic pathways.

Scenario 1: High Uncertainty, Limited Tariffs This scenario posits a situation where uncertainty remains elevated concerning US trade policy, but the actual implementation of tariffs is limited in scope. Under these conditions, the Canadian economy is projected to experience a temporary weakening in its growth trajectory.

However, despite this temporary slowdown, inflation is expected to remain anchored around the Bank of Canada's target of 2%. Even with a limited imposition of tariffs, the sustained high level of uncertainty can still act as a deterrent to economic activity, as businesses and households may adopt a more cautious approach to spending and investment.

The fact that inflation is projected to remain near the target suggests that any upward price pressures from the limited tariffs are likely to be counterbalanced by other factors, such as the anticipated weakening in economic growth or the removal of the consumer carbon tax.
Scenario 2: The Protracted Trade War The second scenario outlines a much more severe outcome, where a protracted trade war ensues, leading to a significant and sustained disruption to international trade.

In this case, the Bank of Canada anticipates that the Canadian economy would fall into recession within the current year. Furthermore, inflation is projected to rise temporarily above 3% in the following year. A prolonged trade war, characterized by widespread tariffs and potential retaliatory measures, would severely impact Canadian businesses and consumers.

The resulting economic contraction would likely lead to job losses and reduced household spending. The temporary surge in inflation would be driven by higher import costs due to tariffs and disruptions to global supply chains.

It is important to note that these two scenarios represent only a fraction of the possible outcomes, and the actual evolution of US trade policy could take many other forms.

The unprecedented nature and rapid pace of the shifts in US trade policy contribute to a significant degree of uncertainty surrounding the economic consequences, making it unusually challenging to predict the precise impacts.

Examining the global economic landscape, the Bank of Canada's report highlights varying conditions across major economies. In the United States, there are indications of a slowdown in economic activity, accompanied by increasing policy uncertainty and a decline in overall sentiment. Simultaneously, inflation expectations have been on the rise.

The Euro Area experienced modest economic growth in early 2025, with the manufacturing sector continuing to exhibit weakness. China's economy demonstrated strength at the close of 2024, but recent data suggests a moderate deceleration in its growth momentum.

Financial markets have experienced considerable turbulence due to the ongoing uncertainty surrounding trade policies. This extreme market volatility is contributing to the overall sense of economic unease.

Notably, global oil prices have fallen significantly since January, primarily reflecting diminished prospects for global economic growth in the face of these trade tensions. In contrast, the Canadian dollar has recently appreciated in value, largely driven by a broad weakening of the US dollar.

Within Canada, the economy is showing signs of a slowdown as the uncertainty surrounding tariff announcements weighs on both consumer and business confidence. Data from the first quarter of 2025 indicate a weakening in consumption, residential investment, and business spending.

The ongoing trade tensions are also disrupting the recovery of the labor market, with employment declining in March and businesses reporting intentions to curtail hiring. Furthermore, wage growth continues to exhibit signs of moderation.

Canada's inflation rate stood at 2.3% in March, a decrease from February's 2.6% but still above the 1.8% recorded at the time of the January MPR. The recent uptick in inflation is partly attributed to a rebound in goods price inflation and the cessation of the temporary GST/HST suspension.

Looking ahead, the removal of the consumer carbon tax starting in April is expected to exert downward pressure on CPI inflation for a year. Additionally, lower global oil prices are anticipated to dampen inflation in the near term.

However, the potential for tariffs and supply chain disruptions to drive up certain prices remains a concern. Consequently, short-term inflation expectations have edged upward as businesses and consumers foresee higher costs arising from trade conflicts and supply chain issues, while longer-term inflation expectations remain relatively stable.

The Bank of Canada's Governing Council will continue its careful evaluation of the interplay between the downward pressures on inflation stemming from a potentially weaker economy and the upward pressures resulting from increased costs.

Their primary objective is to ensure that Canadians maintain confidence in price stability throughout this period of global economic turbulence. This necessitates a strategy that supports economic growth while diligently controlling inflation.

"Governing Council will proceed carefully, with particular attention to the risks and uncertainties facing the Canadian...source

In conclusion, the Bank of Canada has opted to maintain its key interest rate amid significant uncertainty stemming from US trade policy. The April MPR outlines two potential scenarios, one involving limited tariffs and the other a protracted trade war, each with distinct implications for Canadian economic growth and inflation.

While the global economic outlook presents a mixed picture, the Canadian economy is already showing signs of slowing in response to trade tensions. The factors influencing inflation are multifaceted, with the removal of the carbon tax and lower oil prices potentially offsetting some of the upward pressure from tariffs. The Bank of Canada remains committed to navigating this period of uncertainty with a focus on maintaining price stability for Canadians.

Scenario	Key Assumptions	Impact on Canadian GDP Growth (2025)	Impact on Canadian GDP Growth (2026)	Impact on Canadian Inflation (2025)	Impact on Canadian Inflation (2026)	Other Key Impacts
Scenario 1: High Uncertainty, Limited Tariffs	High uncertainty, most tariffs negotiated away by end of 2026	Weakens temporarily	Moderate expansion	Around 2%	Below 2%
Scenario 2: The Protracted Trade War	Long-lasting global trade war with additional US and global tariffs added	Recession this year	Gradual recovery, remains soft	Averages around 2%, rises above 3% in mid-2026	Returns to 2%	Recession for one year

Market Update • April 14, 2025

The Impact of Tariffs on the Ontario Real Estate Market, with a Focus on the Greater Toronto Area

by Gerald Lawrence

1. Introduction

The Ontario real estate market, particularly in the Greater Toronto Area (GTA), has always been influenced by various economic factors such as interest rates, foreign investments, and government policies. However, one less commonly discussed factor is the role of tariffs. These import taxes, especially on construction materials, significantly impact housing costs, affordability, and investment strategies.

2. Understanding Tariffs

Tariffs are government-imposed taxes on imported goods. They are often used to protect domestic industries, retaliate against foreign trade policies, or generate government revenue. While tariffs can have broad economic implications, their effects on real estate are particularly profound when applied to materials such as steel, aluminum, and lumber—key components in construction.

3. History of Tariffs in Canada

Canada has a history of imposing and responding to tariffs, often in reaction to U.S. trade policies. Over the years, tariffs on construction materials have fluctuated based on trade agreements such as NAFTA and its successor, the USMCA. Understanding the historical context of these tariffs provides insight into their recurring impact on real estate markets.

4. Major Tariffs Affecting Real Estate

Steel and Aluminum Tariffs

Steel and aluminum are crucial in high-rise construction and infrastructure development. Tariffs on these materials increase costs for developers, affecting the pricing of new housing projects in the GTA.

Lumber Tariffs

Lumber tariffs have a direct effect on homebuilding costs. Since many GTA homes are built with wood framing, increased costs lead to higher home prices.

Other Construction Materials

Tariffs on items such as glass, appliances, and plumbing fixtures also contribute to rising construction expenses.

5. How Tariffs Increase Construction Costs

Higher tariffs mean increased costs for builders, who pass these expenses onto buyers. This phenomenon leads to:

Increased Home Prices: Higher costs of raw materials make homes more expensive.
Reduced Housing Supply: Developers may delay or cancel projects due to inflated costs.
Longer Construction Timelines: Increased expenses can lead to financial constraints, slowing down construction projects.

6. The Role of U.S.-Canada Trade Relations

Since much of Ontario’s building materials are imported from the U.S., changes in American trade policies significantly affect Canada’s real estate market. Political shifts and renegotiated agreements like the USMCA dictate tariff rates and their subsequent impact.

7. Foreign Investment and Tariffs

Foreign investors often look for cost-effective opportunities. Rising tariffs may deter international buyers from investing in the GTA market, affecting demand and price trends.

8. Tariffs’ Effect on New Developments

Real estate developers in Ontario, especially in the GTA, are directly impacted by tariffs. Increased costs often lead to:

Smaller Developments: Builders may opt for fewer units to mitigate expenses.
Higher Pre-construction Pricing: Buyers must pay more for homes even before they’re built.
Shifts in Material Sourcing: Developers may seek alternative suppliers to cut costs, potentially compromising quality.

9. Impact on Home Prices and Affordability

With rising construction costs due to tariffs, housing affordability in the GTA becomes a major issue. First-time buyers struggle to enter the market, and existing homeowners see fluctuating property values.

10. How Tariffs Influence Mortgage Rates

While tariffs don’t directly affect mortgage rates, they contribute to inflation. In response, the Bank of Canada may adjust interest rates, indirectly influencing mortgage affordability.

11. Impact on Homebuyers

Increased Costs

Higher home prices mean buyers need larger down payments and higher mortgage approvals.

Limited Choices

A reduced supply of new builds leaves fewer options for prospective homeowners.

Market Timing Concerns

Uncertainty surrounding tariffs makes it difficult for buyers to predict when to enter the market.

12. Impact on Sellers

Changing Buyer Demand

Higher prices may limit the pool of eligible buyers, leading to longer listing times.

Price Adjustments

Sellers may need to adjust their expectations based on market fluctuations caused by tariffs.

13. Government Policies and Responses

To counteract tariff effects, the Canadian government may introduce:

Subsidies for Builders
Tax Breaks for First-time Buyers
Negotiated Trade Agreements to Reduce Tariffs

14. Economic Forecasts and Market Predictions

Experts suggest that unless tariffs decrease, the GTA real estate market will continue experiencing high prices and limited affordability. However, government intervention and alternative supply strategies could mitigate these effects.

15. Strategies for Buyers and Sellers

For Buyers

Monitor Market Trends: Stay informed about tariff changes.
Consider Alternative Housing Options: Condos may be more affordable than single-family homes.
Secure Mortgage Pre-approval Early: Lock in lower rates before they rise.

For Sellers

Price Competitively: Adjust listing prices to attract buyers.
Highlight Home Features: Showcase value beyond pricing.
Be Open to Negotiation: Buyers may seek flexibility due to rising costs.

16. Case Studies and Real-Life Examples

Case Study 1: Condo Development in Downtown Toronto

A developer faced higher costs due to steel tariffs, resulting in a 15% price increase for pre-construction units.

Case Study 2: First-Time Buyer in Mississauga

A couple struggled with affordability as new home prices surged, leading them to opt for a resale property instead.

17. Conclusion and Final Thoughts

Tariffs have a profound impact on the Ontario real estate market, particularly in the GTA. Buyers and sellers must stay informed and adopt strategic approaches to navigate these economic challenges. While tariffs create obstacles, government policies and market adaptability can help mitigate long-term effects.

Market Update • April 4, 2025

GTA March 2025 Real Estate Market: Enhanced Affordability and Increased Choices

by Gerald Lawrence

The Greater Toronto Area (GTA) real estate market in March 2025 has presented a landscape marked by improved affordability and a broader selection of properties for prospective homebuyers. This shift is attributed to declining borrowing costs, moderated home prices, and a surge in new listings.

However, underlying economic uncertainties, particularly related to international trade tensions and the impending federal election, have influenced buyer sentiment and market dynamics.

Key Market Indicators

In March 2025, GTA REALTORS® reported 5,011 home sales through the Toronto Regional Real Estate Board’s (TRREB) MLS® System, representing a 23.1% decrease compared to March 2024. Conversely, new listings rose by 28.6% year-over-year, totaling 17,263 properties.

The MLS® Home Price Index Composite benchmark declined by 3.8% annually, while the average selling price decreased by 2.5% to $1,093,254.

The following table summarizes these key metrics:

Metric	March 2024	March 2025	Year-over-Year Change
Home Sales	6,519	5,011	-23.1%
New Listings	13,423	17,263	+28.6%
MLS® HPI Composite Benchmark Price .	N/A	N/A	-3.8%
Average Selling Price	$1,120,000	$1,093,254	-2.5%

Affordability and Borrowing Costs

The decline in both home prices and borrowing costs over the past year has enhanced affordability for potential homeowners. TRREB President Elechia Barry-Sproule noted, “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring.”

The Bank of Canada’s recent interest rate reductions have played a pivotal role in lowering borrowing costs, thereby making monthly mortgage payments more manageable for households. This trend is expected to continue, providing further relief to buyers.

Impact of Economic Uncertainty

Despite improved affordability, economic uncertainties have led many potential buyers to adopt a cautious approach. TRREB’s Chief Information Officer Jason Mercer stated, “Given the current trade uncertainty and the upcoming federal election, many households are likely taking a wait-and-see approach to home buying.”

The introduction of a 10% baseline tariff on all U.S. imports by President Donald Trump has heightened trade tensions, potentially impacting Canada’s economy and, consequently, consumer confidence in the housing market.

Market Dynamics: Supply and Demand

The substantial increase in new listings has expanded the inventory available to buyers, granting them greater negotiating power. This influx of supply, coupled with tempered demand due to economic uncertainties, has contributed to the observed decline in home prices. The following chart illustrates the trend in new listings and home sales over the past year:

Chart: Total New Listings and Sale-to-New Listings Ratio for March 2024 / March 2025

Housing Policy and Future Outlook

Housing remains a focal point in the political arena, with federal parties emphasizing its importance in their platforms. TRREB CEO John DiMichele highlighted, “Building this housing will be a key economic driver moving forward.”

The upcoming federal election and potential policy changes are expected to influence market conditions. Buyers and sellers alike are advised to stay informed about policy developments that may impact housing affordability and availability.

Conclusion

The GTA real estate market in March 2025 reflects a complex interplay of improved affordability, increased housing choices, and economic uncertainties. Prospective buyers benefit from lower prices and borrowing costs, alongside a wider selection of properties.

However, factors such as trade tensions and political developments continue to shape market dynamics. Stakeholders are encouraged to monitor these trends closely and consult with real estate professionals to navigate this evolving landscape effectively.

Industry Update • March 20, 2025

Canada’s GST Elimination for First-Time Homebuyers: A Comprehensive Analysis

by Gerald Lawrence

Main Topics	Subtopics
Introduction	– Overview of Canada’s housing crisis – Government’s response to the crisis
Understanding the GST Elimination	– Definition of GST – Details of the GST elimination policy
Advantages for First-Time Homebuyers	– Financial savings – Increased affordability – Encouragement of homeownership
Impact on Builders	– Reduction in construction costs – Incentives for new projects – Potential challenges
Effects on the Real Estate Market	– Increase in housing supply – Stabilization of housing prices – Market dynamics
Potential Challenges and Considerations	– Regional disparities – Long-term sustainability – Monitoring and evaluation
Frequently Asked Questions (FAQs)	– Six common questions and answers
Conclusion	– Summary of key points – Future outlook

Published: March 20, 2025

Introduction

Canada is currently facing a significant housing crisis characterized by soaring demand, limited supply, and escalating prices. In response, the federal government has introduced a pivotal measure aimed at alleviating these challenges: the elimination of the Goods and Services Tax (GST) for first-time homebuyers on homes priced at or below $1 million. This article delves into the intricacies of this policy, exploring its advantages for first-time homebuyers, implications for builders, and its broader impact on the real estate market.

Understanding the GST Elimination

Definition of GST

The Goods and Services Tax (GST) is a federal tax applied to most goods and services sold in Canada. Typically set at 5%, this tax contributes to the overall cost of purchasing a home, thereby affecting affordability.

Details of the GST Elimination Policy

On March 20, 2025, Prime Minister Mark Carney announced the removal of the GST for first-time homebuyers purchasing homes valued at or under $1 million. This initiative is designed to reduce upfront costs, potentially saving buyers up to $50,000, thus making homeownership more attainable for many Canadians.

Statement from Mark Carney, Canada’s Prime Minister

Advantages for First-Time Homebuyers

Financial Savings

The most immediate benefit of this policy is the substantial financial savings. By eliminating the 5% GST on eligible homes, first-time buyers can save a significant amount, which can be redirected towards other expenses such as home improvements, furnishings, or reducing mortgage principal.

Increased Affordability

Removing the GST lowers the overall purchase price of homes, thereby enhancing affordability. This reduction in cost can enable more young people and families to enter the housing market, fulfilling their aspirations of homeownership.

Encouragement of Homeownership

This tax relief serves as an incentive for individuals who were previously hesitant due to high costs, encouraging a new wave of homeowners and promoting economic stability through increased property ownership.

Impact on Builders

√ Reduction in Construction Costs

For builders, the elimination of GST on homes under $1 million can lead to reduced construction costs. This reduction can improve profit margins or allow for more competitive pricing, thereby stimulating the construction industry.

√ Incentives for New Projects

Lower costs and increased demand from first-time buyers can motivate builders to initiate new projects, contributing to an increase in housing supply across the country.

√ Potential Challenges

While the policy presents opportunities, builders may face challenges such as ensuring quality amidst rapid construction and navigating regional market variations that could affect project viability.

Effects on the Real Estate Market

Increase in Housing Supply

The anticipated surge in construction projects is expected to boost the housing supply, addressing the current shortage and aligning supply more closely with demand.

Stabilization of Housing Prices

An increased supply of homes can lead to a stabilization of housing prices, making the market more accessible and reducing the pressure on buyers.

Market Dynamics

The policy may lead to shifts in market dynamics, including changes in investment patterns and a potential reevaluation of property values in various regions.

Potential Challenges and Considerations

Regional Disparities

The impact of the GST elimination may vary across regions, with urban areas potentially experiencing different effects compared to rural communities.

Long-Term Sustainability

While the policy addresses immediate affordability issues, considerations regarding its long-term sustainability and effectiveness in solving the housing crisis are crucial.

Monitoring and Evaluation

Continuous monitoring and evaluation are essential to assess the policy’s impact and make necessary adjustments to ensure it meets its objectives.

Frequently Asked Questions (FAQs)

Who qualifies as a first-time homebuyer under this policy?
- A first-time homebuyer is typically defined as an individual who has not owned a home in the past four years. Specific eligibility criteria may vary, so it’s advisable to consult official guidelines.
Does the GST elimination apply to both new and resale homes?
- The policy primarily targets new home purchases; however, details regarding its application to resale homes should be confirmed with official sources.
Are there any regional restrictions on the GST elimination?
- The GST elimination is a federal policy applicable nationwide, but regional housing markets may experience varying impacts.
How does this policy affect mortgage qualification?
- While the GST elimination reduces the purchase price, mortgage qualification still depends on factors such as income, credit score, and debt levels.
Will this policy lead to a decrease in housing prices?
- The policy aims to stabilize housing prices by increasing supply, but actual price movements will depend on various market factors.
Is the GST elimination a temporary measure?
- As of the announcement, the policy is intended as a permanent measure, but future governments may reassess its continuation.

Conclusion

The elimination of GST for first-time homebuyers represents a significant step towards addressing Canada’s housing affordability crisis. By reducing financial barriers, encouraging new construction, and potentially stabilizing the real estate market, this policy holds promise. However, careful implementation and ongoing assessment are essential to ensure it effectively meets the diverse needs of Canadians and contributes to a sustainable housing environment.

For a visual summary of Prime Minister Carney’s announcement, you can watch the following video:

My Currently Listed Properties For Sale

Property Update • March 17, 2025

The Ultimate Stone & Siding Raised Bungaloft – A Dream Home on 3.87 Acres!

by Gerald Lawrence

Introduction: Welcome to Luxury, Space & Pure Awesomeness!

If you’ve ever dreamed of a home that has it all—space, elegance, modern amenities, and enough parking for every single one of your friends—then buckle up, because this Stone & Siding Raised Bungaloft is about to blow your mind.

Nestled on 3.87 acres of pristine land, this stunning 6-bedroom, 5-bathroom estate isn’t just a house—it’s a lifestyle. Whether you love hosting epic gatherings, need space for a growing family, or simply want to stretch out and enjoy the finer things in life, this property has you covered.

And let’s be real—how often do you find a home with 14 driveway parking spaces and a 3-bay built-in garage with high ceilings? That’s right, not often.

But that’s just the beginning…

The Numbers: Breaking Down This 5,037 Sq. Ft. Beauty

Before we dive into the juicy details, let’s talk size—because this home is BIG in all the best ways.

Level of Home	Square Footage
Main Floor	2,325 sq. ft.
Loft	447 sq. ft.
Basement	2,265 sq. ft.
Total	5,037 sq. ft.

That’s over 5,000 sq. ft. of meticulously designed living space. Add in the 3.87-acre lot, and you’ve got the perfect blend of indoor comfort and outdoor freedom.

Main Floor: Where Elegance Meets Everyday Living

Open-Concept Living & Dining – Spacious & Stunning

The main floor is where luxury meets functionality. With an open-concept design, soaring ceilings, and expansive windows that let in a flood of natural light, every inch of this home screams sophistication.

Whether you’re curling up by the fireplace with a book, entertaining guests in the elegant dining area, or whipping up a feast in the gourmet kitchen, you’ll feel at home in an instant.

Gourmet Kitchen – A Chef’s Paradise

Foodies, rejoice! This kitchen is what dreams are made of. Equipped with top-of-the-line appliances, sleek countertops, and an open-concept layout, it’s designed to make cooking a joy. And if one kitchen isn’t enough, don’t worry—there’s another one in the basement!

Bedrooms & Bathrooms – A Slice of Comfort

3 spacious bedrooms on the main floor, including a luxurious primary suite with an ensuite bathroom.
5 total bathrooms with heated floors (yes, HEATED FLOORS—because nobody likes cold feet).
A mix of 5-piece, 4-piece, and 2-piece baths, so there’s always a bathroom nearby when you need it.

The Loft: A Cozy & Versatile Bonus Space

Perched above the main floor, the loft is an incredibly versatile space. Whether you turn it into a home office, a reading nook, a playroom, or an extra bedroom, the options are endless.

With 447 sq. ft. of additional space, you have plenty of room to make it your own.

The Fully Finished Basement: An Entire Home of Its Own!

Now, let’s talk about the basement—because it’s not just a basement. It’s practically another home.

What’s Inside?

3 additional bedrooms
Full & semi-ensuite baths
A full kitchen & dining area
A spacious living room AND a great room
A walk-out patio for direct outdoor access

Whether you use it as an in-law suite, a rental unit, or a guest space, this basement offers ultimate flexibility.

The Garage & Parking: Because More is Always Better

Have a car collection? A boat? A need for excessive amounts of parking? Say no more.

3-bay built-in garage with high ceilings (plenty of space for a lift if you need one).
Access to both the basement and the side yard.
A whopping 14 parking spaces in the driveway. Yes, you read that right. FOURTEEN.

Your guests will never have to hunt for street parking again.

Outdoor Features: A Nature Lover’s Dream

Massive Lot = Endless Possibilities

Lot dimensions: 384.13 ft (front) x 550.53 ft (depth) – that’s a whole lot of land!
Two garden sheds for extra storage.
A stone pad with power & water hookups—ready for a mobile home, guesthouse, or your wildest backyard dreams.

Luxury Meets Efficiency

83ft deep drilled well—because fresh, clean water is non-negotiable.
Dual septic tanks for reliability and efficiency.
400 AMP service and a Generac whole-home propane generator—because power outages should never be a problem.

Additional Features That Make This Home Unbeatable

✔ High-speed internet available via Bell 5G—work-from-home and stream Netflix without interruption.
✔ Two sump pumps & an ejector (sewage) pump—because water management is key.
✔ HRV system for optimal indoor air quality & moisture control.

Final Thoughts: Why You Need This Home

This Stone & Siding Raised Bungaloft isn’t just a house—it’s an experience.

Sprawling 3.87-acre lot with unmatched privacy.
6 bedrooms & 5 bathrooms with heated floors for the ultimate comfort.
5,037 sq. ft. of thoughtfully designed living space.
Fully finished basement with a separate kitchen & walk-out patio.
Garage & driveway space that will make any car enthusiast jealous.
Luxury, convenience, and efficiency—all in one stunning package.

If you’re ready to level up your lifestyle, don’t miss out on this rare gem.

📞 Schedule a private viewing today and come see what luxury country living is all about!

FAQs About This Stunning Bungaloft

1. Is the basement a separate living space?

Yes! It’s fully equipped with 3 bedrooms, a kitchen, bathrooms, and a walk-out patio, making it perfect for extended family or guests.

2. How many parking spaces are available?

Between the 3-bay garage and the 14-space driveway, you’ve got plenty of room for all your vehicles and then some.

3. What type of internet service is available?

The property has access to Bell 5G high-speed internet, ensuring fast and reliable connectivity.

4. Is there backup power in case of an outage?

Absolutely! The home is equipped with a Generac whole-home propane generator and 400 AMP service for uninterrupted power.

5. Can I build a guesthouse or add a mobile home?

Yes as long as the relevant authorities grant permit for same! There’s already a stone pad with power & water hookups, ready for your vision.

6. What outdoor storage options are available?

The property includes two-(2) garden sheds, perfect for storing tools, equipment, or seasonal items.

If this home sounds like your dream come true, don’t wait—schedule a tour today! 🌟

Market Update • March 12, 2025

Bank of Canada Cuts Policy Rate by 25 Basis Points to 2.75% Amid Rising Trade Tensions

by Gerald Lawrence

The Bank of Canada (BoC) has announced a 25 basis point reduction in its overnight target rate, bringing it down to 2.75%. Consequently, the Bank Rate is now set at 3.00%, while the deposit rate stands at 2.70%. This decision comes as the Canadian economy, despite entering 2025 on solid footing, faces growing uncertainty due to heightened trade tensions and tariffs imposed by the United States.

Current Economic Landscape: Strengths and Challenges

A Strong Start to 2025 Amid Rising Uncertainty

At the beginning of 2025, Canada’s economy exhibited robust performance, with inflation hovering near the 2% target and GDP growth showing resilience. However, escalating trade tensions with the United States are expected to slow economic activity and contribute to inflationary pressures. The BoC acknowledges that the economic outlook remains uncertain, largely due to rapid shifts in global trade policies.

Global Economic Conditions: Slower US Growth and Market Volatility

The US economy, after a period of strong growth, has shown signs of deceleration in recent months. Inflation in the US remains slightly above the Federal Reserve’s target, adding pressure on policymakers. Meanwhile:

The euro zone reported modest economic growth in late 2024.
China’s economy demonstrated strong gains, bolstered by government-driven stimulus measures.
Financial markets have responded to economic uncertainty with declining equity prices and eased bond yields amid concerns about weaker North American growth.
Oil prices have remained volatile, trading below earlier projections made in the Bank’s January Monetary Policy Report (MPR).
The Canadian dollar has remained relatively stable against the US dollar but has weakened against other major global currencies.

Canada’s Economic Performance: A Mixed Picture

Stronger-Than-Expected Growth in Late 2024

Canada’s GDP expanded by 2.6% in Q4 2024, exceeding earlier forecasts and building on the revised 2.2% growth rate from Q3. This better-than-expected economic momentum was partly driven by past interest rate cuts, which fueled higher consumer spending and housing market activity.

Potential Slowdown in Early 2025

Despite the strong finish in 2024, growth in Q1 2025 is projected to slow. The primary reasons include:

Deteriorating consumer and business confidence, as firms hesitate to invest due to ongoing trade uncertainties.
Rising costs due to US-imposed tariffs, leading to potential inflationary pressures.
A decline in domestic demand, partially offset by a temporary export surge before tariff deadlines.

Labour Market Developments

Canada’s employment growth strengthened between November 2024 and January 2025, driving the unemployment rate down to 6.6%. However, in February, job creation stagnated, suggesting growing fragility in the labour market. While previous rate cuts boosted hiring, concerns are rising that escalating trade conflicts could disrupt job growth moving forward.

Inflation Trends and Expectations

The Consumer Price Index (CPI) remained near the 2% target, but inflationary pressures are expected to rise in March, potentially reaching 2.5%, as a temporary GST/HST suspension ends.

Shelter price inflation remains persistently high, influencing core inflation measures.
Short-term inflation expectations have risen, with businesses and consumers bracing for tariff-induced price increases.

Monetary Policy Response: Why the Bank Cut Rates

Given the uncertain economic climate and rising inflation risks, the Bank of Canada decided to lower the policy rate by 25 basis points to ensure monetary stability.

While monetary policy cannot fully counteract the negative effects of a trade war, it plays a crucial role in preventing inflation from spiraling out of control. The BoC will continue monitoring inflation expectations, assessing whether economic weakness exerts downward pressure on inflation, or if higher costs from trade disruptions push inflation higher.

Looking Ahead: Next Policy Announcement

The next scheduled announcement for the overnight rate target is set for April 16, 2025. At that time, the Bank will release its next Monetary Policy Report, offering a detailed economic and inflation outlook, including an updated risk assessment.

Frequently Asked Questions (FAQs)

1. How will this interest rate cut impact Canadian consumers?

The lower interest rate will make borrowing more affordable, benefiting homebuyers, businesses, and consumers with loans. However, inflation risks remain, meaning prices could rise due to tariffs despite lower borrowing costs.

2. Will this rate cut help counteract the effects of the US trade tariffs?

Not entirely. The BoC’s rate cut aims to support domestic economic activity, but trade tariffs directly impact costs for businesses. This could lead to higher prices for consumers despite lower interest rates.

3. What impact will the rate cut have on the housing market?

Lower rates typically boost demand for homes, potentially driving prices higher. However, economic uncertainty and declining consumer confidence might limit significant gains in the housing sector.

4. How will businesses be affected by this rate cut?

Companies will benefit from lower borrowing costs, which could support investment. However, trade tensions and potential supply chain disruptions may cause businesses to remain cautious despite lower interest rates.

5. Could inflation rise significantly due to trade tariffs?

Yes. Tariffs increase the cost of imports, leading to higher consumer prices. While the BoC aims to manage inflation expectations, external factors like US trade policies remain unpredictable.

6. How does this decision compare to actions by other central banks?

Other central banks, such as the US Federal Reserve and European Central Bank, have also been closely monitoring inflation and trade conditions. Some have taken a more cautious approach, while others have signaled potential rate adjustments in response to economic slowdowns.

The Bank of Canada remains committed to its price stability mandate, ensuring that inflation remains controlled while supporting economic growth in a highly uncertain global environment.

Conclusion

The Bank of Canada’s decision to cut rates underscores the uncertain economic environment Canada faces due to escalating trade tensions with the US. While the rate reduction aims to support economic growth, the long-term impacts of tariffs, inflation pressures, and global economic conditions remain key concerns. As the situation unfolds, the BoC will continue to monitor inflation trends, employment data, and business confidence levels to determine future policy adjustments.

Property Update • March 12, 2025

Beautifully Upgraded Side Split Home for Sale in the Heart of Elora

by Gerald Lawrence

If you’re searching for a charming, upgraded home in one of Ontario’s most picturesque towns, look no further. This stunning side split home in the heart of Elora offers an unbeatable combination of comfort, convenience, and community charm. Nestled on a 0.25-acre lot, this property boasts a fully fenced backyard, perfect for families, pet lovers, and outdoor enthusiasts alike.

With the Grand River just across the street and Bissell Park only steps away where you can check out the farmer’s market, as well as enjoy direct access to scenic walking trails, vibrant community events, and the renowned Riverfest Elora. Plus, a short stroll takes you to downtown Elora, where you’ll find an array of fantastic restaurants, boutique shops, and lively bars.

Let’s dive into what makes this 5-bedroom, 2-bathroom home an extraordinary find!

🏡 Property Overview

Feature	Details
📍 Location	Highly desirable street in the heart of Elora
🏠 Home Type	Beautifully upgraded side split home
🌳 Lot Size	0.25 acres with a fully fenced backyard
🚗 Parking	1-car attached garage + 6-car driveway
🛏 Bedrooms	5 spacious bedrooms (3 Up + 2 Down)
🛁 Bathrooms	2 full bathrooms (both new)
🔥 Heating	Newer furnace & on-demand hot water tank
⚡ Electrical	Upgraded 200-amp system
💧 Water	Municipal – Newer water softener

🏡 Inside the Home: Comfort & Style

✨ Open-Concept Living Area

Step inside to an inviting open-concept space that blends warmth and functionality:

Bright living room with large windows bringing in natural light
Spacious dining area with sliding doors leading to a small patio
Generous-sized kitchen with ample counter space & cabinetry

Perfect for entertaining or cozy family gatherings!

🛏️ Spacious Bedrooms & Updated Bathrooms

Primary bedroom: Large and serene, offering a peaceful retreat
Two additional bedrooms: Spacious with plenty of closet space
Updated bathroom: Features modern fixtures and fresh renovations

🔽 Lower-Level In-Law Suite – Ideal for Multi-Generational Living or Rental Income

The fully finished lower level is a standout feature, offering a separate entrance and great potential for:

✅ In-law suite
✅ Guest space
✅ Rental income opportunity

This renovated area includes:

2 additional bedrooms
Open-concept kitchen, living and dining
3-piece new bathroom
Separate laundry room
Crawl space for extra storage

🌿 Outdoor Oasis: Private, Fenced Backyard

The beautiful backyard offers:
✅ A small patio for relaxing & entertaining
✅ Mature trees providing shade & privacy
✅ Plenty of space for gardening, kids, & pets

Enjoy the serene outdoor environment right in your own backyard!

🚶‍♂️ Location: Living the Elora Lifestyle

🌊 Steps from the Grand River & Bissell Park

Enjoy stunning riverside views, scenic walking trails, and access to Bissell Park, where you can experience Elora’s famous Riverfest and other community events.

🍽️ Minutes from Downtown Elora

A short walk brings you to downtown Elora, known for:
✔️ Charming boutique shops
✔️ Fantastic restaurants & cozy cafés
✔️ Lively bars & entertainment

🏫 Close to Top-Rated Schools & Parks

Families will love the safe, friendly neighbourhood with easy access to excellent schools, parks, and community amenities.

🏡 Why Buy This Home?

✅ Move-in ready with thoughtful upgrades
✅ Prime location in one of Ontario’s most sought-after towns
✅ Spacious home perfect for families, multi-generational living, or investment
✅ Proximity to nature, arts, and culture

This home won’t stay on the market long—act fast to make it yours!

📝 Frequently Asked Questions (FAQs)

1. Is the home move-in ready?

Yes! The home has been beautifully upgraded, with a newly renovated lower level, modern kitchen, and updated bathrooms.

2. How many vehicles can the property accommodate?

There’s an attached one-car garage plus a six-car driveway, providing ample parking space.

3. What schools are nearby?

Elora is home to top-rated schools, making it a great location for families.

4. Is there a rental income opportunity?

Yes! The finished lower-level suite with a separate entrance is perfect for rental income or multi-generational living.

5. What updates have been made to the home?

Recent updates include:

Newer gas furnace
On-demand hot water tank
200-amp electrical system upgrade
Newer water softener
New Laminate Floors
New Interior Paint Job
New Exterior Paint (Wood Siding)
New 1-Car Attached Garage

6. How close is the home to downtown Elora?

Just a short walk from the heart of Elora, with access to restaurants, boutiques, and entertainment.

Click below to explore the immersive, interactive 3D virtual tour

📞 Contact Me For More Details Or A Private Showing!

Don’t miss out on this incredible opportunity! For more information or to schedule a private tour, get in touch today.

🌟 Live the dream in Elora—your perfect home awaits! 🌟

Market Update • March 9, 2025

GTA Real Estate Market Overview – February 2025

by Gerald Lawrence

The Greater Toronto Area (GTA) real estate market continued to provide substantial choice for home buyers in February 2025, as resale inventory remained high while sales declined significantly compared to the previous year. With mortgage rates still elevated, affordability challenges persisted, but market experts anticipate improvements as borrowing costs are expected to drop later this year.

According to the Toronto Regional Real Estate Board (TRREB), home sales in February 2025 totaled 4,037 transactions, representing a 27.4% year-over-year decline. Meanwhile, new listings rose 5.4% YoY to 12,066, reinforcing buyer-friendly conditions with increased housing inventory.

Key Highlights of GTA’s February 2025 Housing Market

Metric	February 2025	February 2024	YoY Change
Home Sales	4,037	5,560	▼ 27.4%
New Listings	12,066	11,450	▲ 5.4%
MLS® HPI Composite	▼ 1.8%	–	▼ 1.8%
Average Selling Price	$1,084,547	$1,108,982	▼ 2.2%

GTA Homebuyers Gain Negotiation Power Amid Market Slowdown

The GTA housing market in February 2025 clearly favoured buyers over sellers. The significant increase in available listings, combined with reduced sales, meant that buyers had greater negotiating power when making offers.

TRREB President Elechia Barry-Sproule acknowledged that while many GTA residents are eager to purchase homes, higher mortgage rates continue to impact affordability. However, she expressed optimism that borrowing costs could decline in the coming months, making homeownership more accessible.

“Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average household income to comfortably cover monthly payments. Fortunately, we anticipate a decline in borrowing costs, which should improve affordability.”

With economic uncertainty still lingering—especially due to concerns over Canada’s trade relationship with the U.S.—many potential homebuyers are choosing to wait and see before making a purchase decision.

TRREB Chief Market Analyst Jason Mercer highlighted this sentiment, stating that if economic conditions stabilize and borrowing costs decrease, the second half of 2025 could see a rebound in sales activity.

“If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity later this year.”

Home Prices Decline: What It Means for Sellers & Buyers

In addition to lower sales volume, GTA home prices also experienced a moderate decline in February 2025:

The MLS® Home Price Index (HPI) Composite Benchmark declined by 1.8% YoY
The average selling price fell 2.2% YoY to $1,084,547

On a seasonally adjusted basis, both the HPI Composite Benchmark and the average home price dropped slightly compared to January 2025, signaling a continued cooling in the market.

For Home Sellers:

Sellers must price homes competitively to attract buyers in the current environment.
Longer listing times are likely, as more inventory means buyers have multiple options.

For Home Buyers:

More inventory = more choices and stronger negotiation power.
Lower prices + potential rate cuts = improved affordability in the coming months.

Market Outlook: What to Expect in the Coming Months

Several key factors will shape the GTA housing market in 2025:

1. Interest Rate Cuts Could Revive Market Activity

Experts predict that Canada’s central bank may start cutting interest rates in mid-to-late 2025, which could lead to a surge in buyer demand. Lower rates will make mortgage payments more manageable, increasing housing affordability.

2. Economic & Trade Uncertainty Remains a Concern

Ongoing trade negotiations with the U.S. and overall economic stability will impact consumer confidence. If trade relations improve and economic uncertainty diminishes, more buyers may enter the market.

3. Policy Changes on Housing Supply & Affordability

With the Ontario provincial election behind us and federal policies in flux, housing supply and affordability remain hot-button issues. TRREB CEO John DiMichele emphasized the need for clear government direction:

“Policy makers need to clarify their plans for housing supply and affordability, as well as trade and economic strategies. Clear direction will go a long way to strengthen consumer confidence.”

4. Potential for a Stronger Second Half of 2025

If interest rates decrease and economic confidence rebounds, the GTA real estate market may experience a surge in sales activity in late 2025. Buyers who are currently waiting on the sidelines may re-enter the market, leading to increased competition.

Final Thoughts: Is Now a Good Time to Buy in GTA?

While February 2025 presented challenges for home sellers, it provided opportunities for buyers. With a higher inventory of listings, softer pricing, and the potential for lower interest rates, buyers may find favorable conditions to purchase homes in the GTA.

For Sellers: Pricing competitively and being patient will be key to securing a sale.

For Buyers: Now is the time to explore options and prepare for potential mortgage rate decreases later in the year.

As the market evolves, keeping an eye on mortgage rate trends, economic conditions, and government policy decisions will be essential for anyone planning to buy or sell in the GTA real estate market.

Check Out My Current Listings Below!

Frequently Asked Questions (FAQs)

1. Why did GTA home sales decline in February 2025?

Home sales dropped 27.4% YoY due to high mortgage rates, economic uncertainty, and cautious buyer sentiment amid trade concerns.

2. Are home prices expected to drop further in 2025?

While prices dipped in February 2025, future trends will depend on interest rate cuts and economic conditions. A rebound is possible in late 2025 if borrowing costs decrease.

3. Is now a good time to buy a home in GTA?

Yes, buyers currently have strong negotiating power, a higher selection of listings, and may benefit from potential rate cuts later in 2025.

4. What impact will lower interest rates have on the housing market?

Lower rates will increase affordability, potentially leading to higher sales activity and price stabilization later in the year.

5. What should sellers do in the current market?

Sellers should price competitively, stage homes effectively, and be prepared for longer listing times due to increased inventory.

6. How does government policy impact the real estate market?

Housing policies on supply, affordability, and economic stability significantly influence market trends and consumer confidence.

Market Update • January 27, 2025

Discover Modern Elegance in the Heart of Countryside Pointe, Uxbridge

by Gerald Lawrence

Discover Modern Elegance in Countryside Pointe: A Stunning 2-Year-Old Semi-Detached Home

If you’re searching for a home that combines modern elegance, energy efficiency, and a serene setting, look no further than this exquisite 2-year-old semi-detached home in the newly created subdivision of Countryside Pointe in Uxbridge, Ontario. Designed with timeless aesthetics and thoughtful features, this property offers the perfect blend of style, functionality, and sustainability. Let’s take a closer look at what makes this home so special.

A Timeless Exterior

From the moment you arrive, the home’s captivating blend of brick, stone, and stucco exterior commands attention. The architectural details, including brick arches, decorative stone accents, and soldier coursing, create a sophisticated curb appeal. The maintenance-free aluminum soffit, fascia, and eaves troughs ensure durability, while the premium sectional roll-up garage door with decorative windows adds a touch of elegance.

The professionally graded and sodded lot is complemented by precast slab walkways and steps, leading you to the brushed nickel front door. Coach lamps at the garage and front door, along with an exterior light fixture at the rear door, provide both functionality and charm.

Step Inside: A Spacious and Inviting Interior

As you step into the spacious foyer, you’re greeted by soaring ceilings and a graceful oak staircase with upgraded spindles. The main level features a harmonious blend of hardwood floors and ceramic tiles, accentuated by 9-foot ceilings that create an open and airy atmosphere.

The open-concept kitchen is a chef’s dream, complete with a centre island, stainless-steel sink, and quality cabinetry selected from the vendor’s standard samples. The kitchen seamlessly flows into the living and dining areas, making it an ideal space for entertaining. A gas fireplace with a white-painted mantel and marble surround adds warmth and ambiance, while a sliding patio door leads to the wooden deck, offering breathtaking views of the fully fenced backyard and expansive farmland beyond.

Upstairs: Comfort and Convenience

The second floor is designed with comfort and practicality in mind. Three generously sized bedrooms, each adorned with luxurious high-end carpeting, provide ample space for relaxation. The master ensuite is a true retreat, featuring a double sink vanity, an oval tub, and a shower with a standard marble surround.

A conveniently located laundry room adds to the functionality of this floor plan, making everyday tasks a breeze. The second floor also features stippled ceilings with smooth borders, adding a touch of sophistication to the space.

Unfinished Basement: Endless Possibilities

The unfinished basement is a blank canvas waiting for your personal touch. With 8-foot ceilings, a rough-in for a full 4-piece bathroom, and its own entrance, this space is ideal for creating a secondary living suite, home gym, or recreational area. The poured concrete basement walls are damp-proofed and wrapped with R20 insulation, ensuring durability and energy efficiency.

Energy-Efficient Features

This home is equipped with a range of energy-saving features, including:

An upgraded on-demand hot water system for efficiency and convenience.
An ERV/HRV system for optimal temperature control and indoor air quality.
A heat recapture coil for water, further enhancing sustainability.
High-efficiency forced gas central heating and a rough-in for central air conditioning.
R60 attic insulation, R24 exterior wall insulation, and R20 basement insulation wrap.
Energy Star certification, ensuring the home meets the highest standards of energy efficiency.

Quality Construction and Finishes

Built with quality construction and attention to detail, this home features:

Poured concrete basement walls with additional foundation wrap for enhanced water resistance.
Steel post and beam construction for added durability.
Engineered truss-joist floor systems to minimize the need for structural posts.
2×6 wood frame construction and fully sealed windows and exterior doors for superior insulation.

Additional Features

A direct access man door from the garage to the main floor hallway for added convenience.
Two exterior water taps, one in the garage and one at the rear of the home.
White switches and receptacles throughout, with ground fault interrupter protection in all bathroom electrical outlets.
Rough-ins for central vacuum, cable TV, and telephone in key areas.

Live the Dream in Countryside Pointe

This stunning 2-year-old semi-detached home offers the perfect combination of modern comfort, energy efficiency, and serene living in the beautiful community of Countryside Pointe. Whether you’re entertaining guests in the open-concept living space, enjoying the tranquility of the backyard, or customizing the unfinished basement to suit your needs, this home is designed to meet the demands of modern living.

Don’t miss the opportunity to make this exceptional property your own. Schedule a viewing today and experience the elegance and functionality of this remarkable home.

For more information or to arrange a private showing, contact me at Gerald-Lawrence@ColdwellBanker.ca. Your dream home awaits!

Market Update • January 24, 2025

Video Listings

by Gerald Lawrence

Video Listings

Properties For Sale

Property Update • January 19, 2025

The Pinnacle of Refined Living: A Builder’s Private Residence in FoxFire Estates

by Gerald Lawrence

Nestled in the heart of FoxFire Estates, this remarkable property epitomizes the perfect blend of luxury, sophistication, and tranquility. Set on 2.4 acres in a serene cul-de-sac, the home offers approximately 7,605 square feet of meticulously designed living space. Every detail has been carefully considered, creating an unparalleled living experience in one of the region’s most sought-after neighbourhoods.

An Entrance to Remember

As you step into the grand foyer, the striking open-riser Scarlet O’Hara staircase takes center stage, immediately commanding attention. This architectural masterpiece gracefully ascends to the upper level, setting the tone for the home’s elegant design and offering a glimpse of the extraordinary living spaces that lie beyond.

Main Floor Elegance and Functionality

The spacious living room is a testament to the home’s thoughtful design, featuring expansive windows that flood the space with natural light and frame views of the picturesque surroundings. Adjacent to this inviting space, the formal dining room provides an ideal setting for hosting elegant dinner parties or intimate family gatherings.

The impressive great room is the heart of the home, boasting soaring 19-foot ceilings, massive windows with enchanting wooded views, and a cozy fireplace. Solid hardwood floors flow seamlessly throughout the main areas, offering a timeless aesthetic, while the gourmet kitchen and baths feature durable tile flooring.

Designed with culinary enthusiasts in mind, the oversized kitchen is a true masterpiece. It boasts premium finishes, ample workspace, and state-of-the-art appliances, ensuring both functionality and style. The practical layout includes a nearby laundry room, a walk-in closet, and a secondary entrance leading to the three-bay garage with 9×8-foot doors, providing ample space for vehicles and storage.

A sunroom situated off the main living areas offers an idyllic retreat. With slate flooring, a cozy fireplace, and walls of windows showcasing serene backyard views, this space is perfect for unwinding. Double doors lead to a private outdoor haven, seamlessly connecting indoor and outdoor living.

An Outdoor Oasis

The backyard retreat is a sanctuary of relaxation and beauty. An expansive patio, complete with a pergola, gazebo, and barbecue area, invites outdoor gatherings against the lush backdrop of perennial gardens. Mature trees, manicured shrubs, and vibrant planters enhance the natural charm, creating an environment that feels like a private escape.

Main Floor Conveniences

A spacious home office provides a quiet, functional workspace, while a well-appointed powder room completes the thoughtfully designed main floor.

The Upper Level: A Haven of Comfort

Upstairs, five generously sized bedrooms await, each offering its own ensuite or semi-ensuite, ensuring comfort and privacy for family and guests alike.

The primary suite is a sanctuary of luxury, occupying its own wing for maximum privacy. The expansive bedroom is complemented by a walk-in closet and a spa-like five-piece ensuite. This exquisite bathroom features a custom double vanity, a supersized glass shower, a deep soaker tub, and a separate water closet, offering a tranquil space to relax and recharge.

A Basement Designed for Versatility

The carefully planned basement provides remarkable versatility, making it ideal for multigenerational living. With private access from the garage, the in-law suite includes a bedroom, bathroom, living area, and kitchen, ensuring independence and comfort for extended family members.

Additionally, the basement features a full gym, ample storage solutions, a cold cellar, and a utility room. Large windows throughout the lower level bring in natural light, creating a bright and welcoming environment.

A Masterpiece of Modern Living

This estate stands as a testament to refined living. With its exceptional craftsmanship, thoughtful layout, and premium finishes, it offers a lifestyle that is both luxurious and functional. Surrounded by the natural beauty of FoxFire Estates, this property is more than a home-it is a statement of elegance and sophistication.

For those seeking the ultimate in luxury and privacy, this builder’s private residence is a rare gem that must be experienced firsthand.

Get more Information at https://www.GeraldLawrence.Realtor/7DeerRun

Property Update • January 8, 2025

Entertainer’s Residence On Duffins Creek Across From Golf Course

by Gerald Lawrence

Discover the hidden gem right in the urban centre while living at 536 Riverside Drive in Ajax, Ontario. This exceptional property, offers a harmonious blend of modern amenities and natural beauty, making it a true entertainer’s dream.

Escape the ordinary and embrace the extraordinary home; it’s a creekfront sanctuary, a haven of tranquility, and a testament to tranquil living. Nestled along the picturesque Duffins Creek (Urfe Creek), this unique 2-story single-family home offers an unparalleled blend of natural beauty, practical design, and useful amenities.

Imagine waking up each morning to the natural beauty of the protected forest and the river boasts an impressive 102 feet of water frontage, granting you direct access to the serene beauty of Duffins Creek. This is your personal slice of paradise, perfect for fishing, bird watching, watching the salmon run in the fall or simply relaxing while soaking in the peaceful ambiance.

Property Overview

The 0.68-acre property is an outdoor enthusiast’s dream. A sparkling newly built swimming pool with LED Lighting beckons on hot summer days, offering a refreshing escape from the heat and well as nighttime relaxation. The meticulously landscaped grounds provide ample space for outdoor entertaining, with a dedicated outdoor kitchen featuring top-of-the-line appliances. Imagine hosting unforgettable summer barbecues under the starry sky, surrounded by lush greenery and the soothing sounds of nature with lots of space to accommodate family and friends on the newly constructed patio area.

This two-story residence boasts 4+1 bedrooms and 4 bathrooms. The open-concept main floor features a cozy living room with a gas fireplace and an expansive kitchen equipped with a center island. Adjacent to the dining area, a wall of glass doors opens to an enclosed deck, providing breathtaking views of the pool and backyard oasis. The fully upgraded second level includes a luxurious primary suite with panoramic views of Duffins Creek and the surrounding forest, complete with a walk-in closet and a 5-piece ensuite featuring high-end fixtures and a steam shower. The finished lower level offers a warm and inviting multi-use space, thoughtfully designed with oak carpentry, a 3-piece bath, kitchenette, storage, and a wine cellar.

The open-concept floor plan seamlessly connects the living room, dining area, and kitchen, creating an inviting and spacious atmosphere perfect for both intimate gatherings and grand celebrations. The gourmet kitchen is a chef’s delight, featuring stainless steel appliances, ample counter space, and a large island ideal for culinary creations.

Outdoor Features

The property is a haven for outdoor enthusiasts, featuring:

A newly constructed swimming pool
A cabana house
An outdoor built-in stainless steel kitchen with a BBQ, smoker, fridge, and sink
A new patio area
An insulated and heated garage with a loft
An extra-tall storage shed
A charming bunkie

All these amenities overlook the picturesque Duffins Creek (Urfe Creek) and surrounding forest, offering a tranquil retreat right in your backyard.

Expansive Living with a 3-Season Room

A newer addition to this property is a captivating 3-season room. This glass-enclosed haven, complete with durable Duradek flooring, transforms into a seamless extension of your living space. Enjoy panoramic views of the lush backyard, the sparkling swimming pool, and the serene forest beyond. Access this versatile space effortlessly through accordion-style glass folding doors, garden doors leading to the backyard, or the convenient man door connecting to the front patio, where an outdoor kitchen awaits.

A Sanctuary of Relaxation

Along with the main floor bedrooms, retreat to the upper level and discover a haven of tranquility. Spacious bedrooms offer comfortable retreats for family members and guests alike. The primary suite is a true masterpiece, featuring a luxurious 5-piece ensuite bathroom, a walk-in closet, and perhaps even a private balcony overlooking the stunning waterfront views.

Location

Beyond its idyllic setting, 536 Riverside Drive enjoys a highly desirable location. Conveniently located directly across from Riverside Golf Course, this home is just minutes away from local amenities including, shopping centers, entertainment venues, schools and parks seamlessly blending tranquility with everyday convenience. Situated in the charming town of Ajax, this property offers a perfect balance of tranquility and convenience. Commuting to Toronto is a breeze thanks to its proximity to major highways such as the 401.

Additional Information

536 Riverside Drive is thoughtfully equipped with a range of amenities designed to enhance your lifestyle. A detached garage provides ample space for large vehicle and storage with a loft accessed from a staircase outside for additional storage. A separate bunkie offers additional versatility, potentially serving as a home office, party room, or a hobby space. There is a 14ft tall storage shed perfect to storing small engine tools especially for winter protection. The property offers ample parking with 15 total spaces, including a 1.5-car detached garage. The lot measures 75.08 ft x 363.03 feet, providing plenty of space for outdoor activities and future expansions if allowed.

For a visual tour of this stunning property, you can watch the following video:

This unique property offers the perfect blend of natural beauty, modern amenities, and thoughtful design, ideal for families, entertainers, or those seeking a private retreat. Don’t miss your chance to own this breathtaking home!

A Finished Basement: Comfort and Entertainment

The finished basement exudes warmth and invites relaxation. Sink into a large couch and enjoy your favorite shows while the built-in speakers create a vibrant party atmosphere. Expertly crafted with oak wood carpentry throughout, the space boasts brand-new high-quality, ultra-soft broadloom carpeting.

For added convenience, the basement features a kitchenette equipped with a microwave and mini-fridge. A dedicated bedroom area provides a cozy retreat, while a 3-piece full bathroom ensures comfort. A temperature-controlled wine cellar adds a touch of sophistication, and a dedicated storage room keeps everything organized.

536 Riverside Drive is an invitation to a life of unparalleled living and serenity. It’s an opportunity to experience the magic of waterfront living by Duffins Creek overlooking the protected forest, to create lasting memories with loved ones, and to find true peace in a world that often feels chaotic. This is more than just a house; it’s a lifestyle.

Feel free to contact me to conduct a private showing of this amazing property by visiting https://www.GeraldLawrence.Realtor/536RiversideDrive.

Market Update • November 17, 2024

New Actions To Build Secondary Suites

by Gerald Lawrence

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 suites and repurposing vacant federal lands. Deputy Prime Minister and Minister of Finance Chrystia Freeland, along with Ministers Jean-Yves Duclos and Terry Beech, announced significant progress in these initiatives.

Federal Government Takes Bold Steps to Unlock Housing Supply

Ottawa, Ontario (October 8, 2024) – Today, the federal government announced a series of measures aimed at accelerating housing construction and increasing affordability. These initiatives will unlock underutilized properties, simplify regulations, and provide financial incentives to stimulate housing development.

Expanding Homeownership Opportunities

Secondary Suites and Mortgage Refinancing: The government is introducing new measures to encourage the construction of secondary suites. These include:
- Mortgage Refinancing: Homeowners will be able to refinance their mortgages to fund the construction of secondary suites, with up to 90% financing available and amortization periods of up to 30 years.
- Increased Mortgage Insurance Limit: The maximum insurable mortgage amount for secondary suite refinancing will be increased to $2 million, ensuring access to financing in all housing markets.
Canada Secondary Suite Loan Program: This program will provide low-interest loans to homeowners to support the construction of secondary suites.

Unlocking Vacant Land

Vacant Land Tax: The government is launching consultations on a potential federal vacant land tax. This tax would incentivize landowners to develop their properties and increase housing supply.
Canada Public Land Bank: An additional 14 underutilized federal properties have been identified for residential development, bringing the total number of available properties to 70.

Building a More Affordable Future

By implementing these measures, the federal government is taking significant steps to address Canada’s housing shortage and make housing more affordable for all Canadians. By unlocking underutilized properties, simplifying regulations, and providing financial support, the government is creating a more sustainable and equitable housing market.

Quotes

“We must use every possible tool to build more homes and make housing affordable for every generation of Canadians. That is why we announced the most ambitious housing plan in Canada’s history—a plan to build 4 million new homes. Today, we are taking bold action to deliver on key parts of that plan which will build new homes by making it easier to add a secondary suite to your existing home and making full use of available land in our communities.”

– The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

“Safe, accessible, and affordable housing options are out of reach for far too many Canadians. The launch of the Canada Public Land Bank in August 2024 laid the foundation for our efforts to unlock public lands for housing at a pace and scale not seen in generations. We are delivering on our promise to continue to add more properties to the land bank and meet the deliverables outlined in Budget 2024 to support a new, ambitious Public Lands for Homes Plan. In doing so, we can build strong communities and more affordable housing across the country.”

– The Honourable Jean-Yves Duclos, Minister of Public Services and Procurement

“Our government is unlocking new opportunities for homeownership by building homes on underused public lands, retrofitting federal buildings, and empowering homeowners to construct additional units. Young British Columbians and Canadians across the country face a tougher housing market than the generations before them and our plan will help create more housing options for them and their families.”

– The Honourable Terry Beech, Minister of Citizens’ Services

“The measures announced today are another step forward in our work to tackle the housing crisis, build more homes, and ensure that everyone has a safe and affordable place to call their own.”

– The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

Quick facts

Today’s mortgage reforms to make it easier for homeowners to add secondary suites, such as basement apartments, in-law suites, and laneway homes, build on the federal government’s recent announcement of the boldest mortgage reforms in decades to unlock homeownership for every generation of Canadians. Starting December 15, 2024, Canadians will be able to apply for reformed mortgages and benefit from lower monthly payments. These reforms include:
- Increasing the $1 million price cap for insured mortgages to $1.5 million, to reflect current housing market realities and help more Canadians qualify for a mortgage with a downpayment below 20 per cent. Increasing the insured-mortgage cap—which has not been adjusted since 2012—to $1.5 million will help more Canadians buy a home.
- Expanding eligibility for 30 year mortgage amortizations to all first-time homebuyers and to all buyers of new builds, to reduce the cost of monthly mortgage payments and help more Canadians buy a home. By helping Canadians buy new builds, including condos, the government is announcing yet another measure to incentivize more new housing construction and tackle the housing shortage. This builds on the Budget 2024 commitment, which came into effect on August 1, 2024, permitting 30 year mortgage amortizations for first-time homebuyers purchasing new builds, including condos.

In addition to reforming mortgage insurance rules to make it easier to add secondary suites, the federal government is:
- Helping families afford to have a grandparent or a family member with a disability move back in if they want to with a new, refundable Multigenerational Home Renovation Tax Credit of up to $7,500, available as of January 1, 2023; and,
- Launching a new Canada Secondary Suite Loan Program to enable homeowners to access low-interest loans to help with the cost of renovations. More details will be announced before the end of the year.

In Budget 2024 and Canada’s Housing Plan, the federal government announced the most ambitious housing plan—a plan which will build nearly 4 million homes by 2031. This plan takes a whole-of-government approach to addressing the housing crisis by building more homes, making it easier to rent or own a home, and helping Canadians who cannot afford a home.
- A key component of Canada’s Housing Plan is the Public Lands for Homes Plan, which will build 250,000 new homes by partnering with all order of government, homebuilders, and housing providers to build homes on surplus and underused public lands, such as unused federal offices, across the country.
- Budget 2024 provided $500 million to launch the new Public Lands Acquisition Fund, which will buy land from other orders of government to allow the federal government to acquire more land to be used for housing to help build middle-class homes. Work on the fund is already underway, and more details will be released in the coming weeks.

The 14 federal properties added today to the Canada Public Land Bank are located in:
- Vernon, British Columbia;
- Ottawa, Ontario;
- Gatineau, Quebec;
- Québec City, Quebec;
- Cape Breton, Nova Scotia; and,
- St. John’s, Newfoundland and Labrador.

Provinces, territories, and municipalities that choose to implement vacant land taxes would be incentivized to design these taxes around a core tax base of land that is:
- Vacant;
- Residentially (or mixed-use) zoned;
- Serviceable by municipal infrastructure (e.g., roads, water, sewage, and electricity); and,
- Physically developable (e.g., appropriate lot size, no site contamination)

Applying specialized taxes on vacant land would be intended to:
- Encourage the development of land into housing rather than leaving it idle;
- Discourage speculative holding of land by making it more costly to keep land undeveloped; and,
- Provide a source of revenue, which could potentially be used to fund further investments to build more homes.

Market Update • November 6, 2024

GTA Home Sales Surge in October 2024 as Market Tightens

by Gerald Lawrence

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 the uptick in sales to the Bank of Canada’s rate-cutting cycle and improved affordability. “Lower borrowing costs and relatively flat home prices have encouraged more buyers to enter the market,” she said.

TRREB Chief Market Analyst Jason Mercer notes that while October saw tighter market conditions, ample inventory ensures continued buyer choice and moderate price growth in the near term. However, as inventory is absorbed and construction lags population growth, price acceleration is anticipated for spring 2025.

To further enhance affordability, TRREB CEO John DiMichele advocates for policy measures like the Conservative Party’s proposed GST removal for new homes under $1 million. He also suggests phasing out the rebate between $1 million and $1.5 million for markets like the GTA and Vancouver, and calls for provincial alignment with this proposal.

Market Update • October 23, 2024

Bank of Canada reduces policy rate by 50 basis points to 3¾%

by Gerald Lawrence

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 (CPI) currently around 2%. This drop is due to lower energy prices and a general easing of underlying inflationary pressures. While inflation is close to the Bank’s target of 2%, the distribution of inflation rates across different goods and services is still uneven.

The Bank of Canada expects inflation to remain near its target over the next few years. Core inflation, which excludes volatile items like food and energy, is forecast to gradually decrease. However, there are risks that inflation could either rise above or fall below the target.

Canada’s economy has performed largely as expected. It grew slightly faster than anticipated in the second quarter but is expected to slow down in the third quarter. Overall, the economy is still producing more goods and services than are being demanded. The job market has weakened, especially for newcomers and young people. Wages are rising faster than productivity.

The Bank of Canada forecasts Canada’s economy to grow at an average rate of 2¼% over the next two years. This is due to expected increases in consumer spending and business investment, supported by lower interest rates. However, slower population growth and rising consumption per person will partially offset this growth. Export demand is also expected to remain strong.

The global economy is projected to grow at around 3% over the next few years. The United States is experiencing strong economic growth, but it is expected to slow down. In the euro area, growth is sluggish but expected to improve. Inflation in advanced economies is expected to be close to central bank targets. China’s economy has slowed due to weak domestic demand and the ongoing property crisis. However, new stimulus measures should help prevent further decline.

The weaker Chinese economy has reduced demand for oil. Global oil prices have fallen and remain volatile due to concerns about supply, demand, and the conflict in the Middle East.

Recent Data

General Info • October 8, 2024

Embracing the Autumnal Charm: Decorating Your Home for the Season

by Gerald Lawrence

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 your space into a haven of comfort and style.

Embracing the Outdoors

Front Porch: Your front porch is the first impression visitors have of your home. Enhance its curb appeal by adding a touch of autumnal charm. Place a welcoming doormat with a seasonal message, hang a vibrant wreath adorned with leaves and pinecones, and place a cozy porch swing or rocking chairs for relaxing outdoor moments.

Back Deck: Create a relaxing outdoor retreat on your back deck. Arrange comfortable seating, such as a cushioned outdoor sofa or lounge chairs, and add a cozy throw blanket for chilly evenings. Incorporate autumnal accents like pumpkins, gourds, and fall-themed planters to create a festive atmosphere.

Bringing the Outdoors In

Dining Room: Set the stage for cozy family dinners with an autumnal table setting. Use a warm-toned tablecloth or runner and incorporate fall-inspired centerpieces, such as a harvest basket filled with apples, pumpkins, and foliage. Add a touch of elegance with candles in autumnal hues or a rustic wooden centerpiece.

Cozy Living Room

Warm Colors: Paint your living room walls in a warm and inviting color like deep burgundy, forest green, or golden yellow. These hues will create a cozy and inviting atmosphere.
Textured Fabrics: Introduce textured fabrics like velvet, corduroy, and wool into your living room decor. These materials will add warmth and depth to your space.
Cozy Throws and Pillows: Layer your sofa with soft and cozy throws in autumnal colors like burnt orange, mustard yellow, or deep brown. Add decorative pillows with fall-inspired patterns or textures to complete the look.

Autumnal Accents

Pumpkins and Gourds: Display pumpkins and gourds of various sizes and colors throughout your home. Place them on shelves, tables, or mantelpieces for a festive touch.
Fall Foliage: Incorporate fall foliage into your decor by creating arrangements with leaves, branches, and pinecones. Place them in vases or baskets for a natural and rustic look.
Candles: Set the mood with scented candles in autumnal fragrances like apple cinnamon, pumpkin spice, or warm vanilla. The flickering light and cozy aroma will create a relaxing atmosphere.

Conclusion

By incorporating these autumnal elements into your home decor, you can create a warm and inviting space that reflects the beauty of the season. Enjoy the cozy ambiance and create lasting memories with loved one.

Take a look at these properties for sale:

Market Update • September 24, 2024

The Bank of Canada Unveils Reconciliation Action Plan

by Gerald Lawrence

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 in Canada.

Developed through extensive consultation with Indigenous partners, advocates, and employees, the plan reflects a two-year process of dialogue and learning. The Bank sought to understand the unique challenges faced by Indigenous communities and explore ways to collaborate towards reconciliation.

The plan is centered on two key priorities:

Deepening Understanding of Indigenous Economies: The Bank will actively seek to understand the diverse economic realities of Indigenous communities across Canada. This includes research, data collection, and engagement with Indigenous leaders and experts.
Building an Inclusive Organizational Culture: The Bank is committed to creating a workplace that values Indigenous perspectives and experiences. This involves fostering a culture of inclusion, diversity, and respect, and ensuring that Indigenous employees have opportunities for growth and development.

“The Bank’s role is to promote the economic and financial well-being of all Canadians,” said Senior Deputy Governor Carolyn Rogers. “Our approach to reconciliation is rooted in that mandate and guided by our core values of forward thinking, inclusion, and inspiring confidence.”

The Bank will report annually on its progress towards reconciliation and will review and update its goals and actions every three years through ongoing engagement with Indigenous partners.

https://www.bankofcanada.ca/2024/09/bank-canada-announces-reconciliation-action-plan/

Property Update • September 15, 2024

Transitional Home for a Growing or Multigenerational Family in Markham

by Gerald Lawrence

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 of cultural attractions, including museums, art galleries, and community events. With its convenient location and abundance of amenities, Markham is an ideal place to live, work, and play. In the Bullock area sits this traditional home that was first built in 1962 but has been upgraded a number of times since including 2nd living room and sun room additions made in 2004. The roof has 35-year ICO asphalt shingles that was replaced in 2017. For whole home power backup there is a auto-switch gas generator.

The home has approximately 2634 Sq feet on four finished split levels plus an unfinished basement for storage. Featuring renovations and number upgrades over the years in different parts of the home with updated windows all with window treatments and some automated, newer hardwood floors in additions, newer ensuite bathroom, 2 living rooms, 2 gas fireplaces, 2 kitchens, 2 dining rooms, private deck with awning, concrete patio in fully fenced backyard, whole home backup generator, and for ease of access to upper level there is chair lift, makes this a great option for many growing families.

A charming two-story brick home with a stucco addition to the back nestled in a peaceful neighbourhood in the Bullock Community of Markham. The home features a well-manicured lawn, a large maple tree providing ample shade, and mature landscaping. The front exterior boasts a classic design with matching red front doors. The asphalt driveway with stone-border leads to an inviting stone patio entry while providing convenient parking.

Living Room 1 of 2

This is a modern and inviting living room with a vaulted ceiling. The room features hardwood flooring, large windows with automated blinds that offer ample natural light, and a cozy fireplace. A ceiling fan adds a touch of comfort, while a wall-mounted television provides entertainment. The space is tastefully decorated with a combination of neutral tones and pops of color, creating a welcoming atmosphere. There is also easy access to the backyard from a side door to enjoy the serene private space.

Dining Room 1 of 2

The first of two dining rooms was once a garage and has since been converted to a spacious and well-lit dining room featuring hardwood flooring and a neutral colour palette. It can easily accommodate a large dining table that can seat up to 8 adults. The room has a small foyer from the entry with different flooring that divides the space from the adjacent dining area. Large windows allow for ample natural light, creating a bright and inviting atmosphere.

Kitchen 1 of 2

A modern kitchen with dark wood cabinetry, white countertops and fridge, and other stainless steel appliances as looks over the open-concept living area. A large island with a breakfast bar provides additional counter space and seating. The kitchen features ample natural light from overhead “daylight”, creating a bright and airy atmosphere. The backsplash is adorned with white subway tiles, adding a classic touch. The overall impression is one of functionality and style for anyone who likes to entertain.

Primary Bedroom 1 of 2

A cozy and inviting primary bedroom in a basement setting. The room is very large as it comfortably holds a queen-size bed, bedside tables with lamps, and a dresser with storage drawers as well as a chest of drawers, A window provides natural light, while a gas fireplace adds warmth and comfort. The overall atmosphere is one of relaxation and tranquility.

Primary Ensuite Bathroom

The ensuite spa-like bathroom is a great size with a soothing blue colour palette. The bathroom features a large soaking tub, a separate enclosed shower with a glass door, and a vanity with ample storage. Some walls are tiled in a neutral tone, complementing the overall serene atmosphere while recessed lighting adds to the ambiance.

Living Room 2 of 2

The second living room on the main floor is a classic one with a traditional style. The room features a curved bay window that offers ample natural light, a comfortable sofa with colourful throw pillows, a coffee table, and a grandfather clock. A wall-mounted television provides entertainment, while a vintage tea trolley adds a touch of charm. The overall atmosphere is cozy and inviting.

Dining Room 2 of 2

A formal dining room with a classic style opens to the living area. The room is big enough for a large dining table placed strategically under the chandelier hanging from the ceiling, with even more space for a sideboard. French doors lead to a sunroom, providing additional natural light and a connection to the outdoors. The overall atmosphere is elegant.

Kitchen 2 of 2

Of the two kitchens in the home, this is a classic kitchen with white cabinetry, a white refrigerator, and a gas stove. The kitchen features a window overlooking the backyard, providing natural light. A vintage hutch adds a touch of charm, while the light green walls create a warm and inviting atmosphere. The overall impression is one of functionality and nostalgia.

Office/Den or Sun Room

As part of the newer addition to the home, a bright and airy home office or sun-room with ample natural light from large windows. The room features hardwood flooring. The room is also suitable for a home gym. A door leads to a private deck, providing a peaceful outdoor workspace or relaxation area. The overall atmosphere is clean, organized, and conducive to productivity.

Upper 4Pc Bathroom

A clean and functional full bathroom with a modern aesthetic is on the upper floor right next to the bedrooms. The room features a white vanity with a rectangular sink, regular-sized tub and shower, a large round mirror, and a window that provides natural light. The walls are painted in a neutral tone, creating a calming atmosphere. The overall impression is one of simplicity and practicality.

Bedroom #5

The smallest of all the bedrooms is this cozy and inviting bedroom with a classic aesthetic. The room features hardwood flooring, a window with blinds and shades having a view over the front yard, and a double closet The overall atmosphere is peaceful and serene.

Bedroom #4

Another cozy and inviting bedroom with a classic aesthetic. The room features hardwood flooring, a window with blinds and shades overlooking the front yard, a double closet. The walls are painted in a neutral tone, creating a calming atmosphere. The overall impression is one of simplicity and comfort.

Primary Bedroom 2 of 2

As one of the larger ones, this is a bright and airy bedroom with a modern aesthetic. The room features hardwood flooring, a window with blinds and shades overlooking the backyard, and also has a double closet. The room is large enough for a king-size bed and matching bed-side tables. The walls are painted in a neutral tone, creating a calming atmosphere. The overall impression is one of simplicity and comfort.

Back View Of House & Yard

The lot has a spacious backyard with a large, well-manicured lawn. The home features a rear patio with a barbecue grill and a concrete slab for outdoor entertaining. A shed is visible in the background, providing additional storage space. The backyard is surrounded by mature trees and a privacy fence, creating a private and peaceful outdoor oasis. It gives an overall impression of tranquility and relaxation.

Fully Fenced Backyard with Shed

A well-maintained backyard with a spacious concrete patio, a grassy lawn, and a large shed. A privacy hedge separates the backyard from neighbouring properties, providing a sense of seclusion. Great space for a barbecue grill and the area is also perfect for outdoor entertaining.

Back View Of House & Deck

A private wooden deck with white metal railing that overlooks the backyard and features a small seating area with lounging seats and coffee table.

Back Deck With Retractable Awning

A decent-sized deck with a retractable awning that provides shade and protection from the elements. Lush greenery of the backyard can be seen beyond the railing, creating a peaceful and inviting atmosphere. The retractable awning adds a touch of versatility and functionality to the outdoor space to protect against the hot sun or rain.

Aerial View Of Home and Neighbours

This home is located in a suburban neighborhood with a variety of homes, including large and modern homes as well as traditional well-built older homes which were the mainstay of the established community. Several mature trees, including large shade trees that are visible in the area which accurately embodies the characteristics of a quiet and peaceful residential community.

Property Video

Interactive Matterport 3D Tour

To see all the information including survey, floor plans, video tour, aerial drone video, interactive matterport 3D tour, additional photos and descriptions visit the property website at http://www.GeraldLawrence.Realtor/158SherwoodForestDrive