News
Stay up-to-date with latest Toronto real estate market news.
Canadian Housing Market Outlook in 2024
Looking ahead to the Canadian housing market in 2024, experts and analysts anticipate a gradual recovery, driven by stabilized interest rates and a return in demand. Learn more about the market updates.
The Immigration Boom: Reshaping the Canadian Real Estate Market
Canada is currently experiencing a historic immigration boom that is fundamentally reshaping the country's real estate landscape. Learn how…
Full GST Rebate for New Rental Developments Focused on Strengthening Canada's Housing Stock
The federal government of Canada has taken a substantial step toward addressing the housing crisis by announcing a full Goods and Services Tax (GST) rebate for new rental developments. Learn more about the new policy.
City of Toronto Enforces Measures to Tackle Budget Deficit
In response to a financial crisis, the City of Toronto has embarked on a mission to strengthen its fiscal foundation. Faced with immediate and long-term challenges, the Canadian government has introduced measures to bolster the city's financial resilience.
Housing Is Costing Ontario Its Edge
The recent correction of the Canadian real estate market has given hope to young adults, but the Greater Toronto Area (GTA)'s housing remains unattainable for most. Despite a potential 30% price drop in a deep recession, affordability remains a pressing issue, causing Ontario’s youth to seek more affordable options in other provinces.
National Office Vacancy Rate Predicted to Peak in 2024
According to Colliers Canada's recent National Market Snapshot, a surprising 93% of this year's new office supply has poured into downtown regions, resulting in a downtown office vacancy rate of 15%.
Pervasive Interest Rate Challenges: Canadian Home Builders Experience 22% Project Cancellation Rate
67% of home builders and developers in the Canadian Home Builders’ Association network reported a reduction in construction output, and 22% have been compelled to entirely cancel projects, signifying a troubling trend of increasing project cancellations.
CREA Revises Canada’s 2023 and 2024 Home Sales Forecast
The Canadian Real Estate Association (CREA) has revised its 2023 and 2024 forecasts for the Canadian real estate market.
Strong Demand in The Housing Market Despite High Interest Rates
The Bank of Canada announced that interest rates have been raised by 0.5% points, reaching 3.5%, the highest level seen in 22 years. However, the Canadian housing market continues to display remarkable resilience.
Ontario Implements New Rent Cap Increase of 2.5% for 2024
In a recent announcement of the Ontario government, Municipal Affairs and Housing Minister Steve Clark revealed that Ontario landlords will be permitted to increase rent by up to 2.5 percent in the coming year.
The Commercial Real Estate Market in Canada is Starting to Normalize
The Canadian commercial real estate (CRE) market is showing signs of normalization as we head into the second half of 2023.
Canada's Household Debt Hits Alarming Heights, Surpassing GDP and G7 Nations
Canada’s household debt has reached alarming levels, surpassing the size of the country's economy and outpacing G7 nations. The ongoing rise in interest rates further exacerbates concerns about financial difficulties.
Amendments to Foreign Buyer Ban Now in Effect
In line with the implementation of the Prohibition on the Purchase of Residential Property by Non-Canadians Act, commonly referred to as the Ban on Foreign Homebuyers in Canada, the Government of Canada has announced a series of amendments to the legislation governing residential property purchases by non-Canadians, which are now in effect.
Toronto's Limited Housing Supply: A Never-Ending Challenge
The issue of tight housing supply in Toronto is not a new one. It has been an ongoing problem for years, with demand for homes constantly outpacing the supply of new listings.
Spring 2023 Outlook: Greater Toronto Area Real Estate Market
The Toronto housing market is rebounding, with a tighter market and increased competition among buyers driving home prices up.
The Benefits of Leasing a Live-Work Space for Small Business Owners
A live-work unit is a property that combines living and working spaces into one unit…
Subletting 101: The Benefits for Tenants & Landlords
Subletting can be beneficial for both tenants and landlords—here's why…
MNP LLP Appointed External Auditors of Westhaven REIT
Westhaven Real Estate Investment Trust ("Westhaven REIT") is pleased to announce that we have appointed…
Westhaven REIT Now Enrolling Precise ParkLink Employees in Group RRSP
Westhaven Real Estate Investment Trust (“Westhaven REIT”) is pleased to announce that we are now enrolling…
2023 Residential Rental Market Forecast: Where Is It Heading?
2022 had several waves of trends in the rental market. In Early Q1 & Q2, interest rates…