With housing prices in Canada’s major cities already holding at steady highs, one of Canada’s largest real estate firms is predicting that aggregate home prices in the Greater Toronto Area (GTA) will climb by another 11 percent in the final quarter of 2023. Royal LePage said in a housing-price forecast published on July 13 that it’s…
Toronto-Area Housing Prices Will Rise 11% by Year’s End, Real Estate Firm Predicts
Average Asking Price for Canadian Rental Unit Hits Record High in June: Rentals.ca
The average asking price for a rental unit in Canada reached a record $2,042 last month amid continued interest rate hikes and population expansion, according to a new report by Rentals.ca and Urbanation. The data, which analyzed monthly listings from the Rentals.ca network, showed year-over-year rent inflation for June was 7.5 percent, below the double-digit…
January Home Sales in Canada See Lowest Level Since 2009
Home sales in January were the lowest for the month since 2009 and down 37.1 percent compared with a year ago, the Canadian Real Estate Association said Wednesday. The drop came as January sales also fell on a month-over-month basis as they dropped three percent compared with December. CREA said the move lower to start…
Canada Will See Weakest Level of Homes Sales Since 2001 This Year: TD Report
A new report from TD Economics predicts Canada will see the weakest level of home sales since 2001 this year. The housing market outlook from economist Rishi Sondhi attributes the prediction to the poorest affordability level since the late 80s and early 90s. Sondhi is forecasting that home sales will reach their bottom sometime in…
Ottawa Adds Exceptions to Law That Bans Foreign Investors From Buying Canadian Homes Starting Jan. 1
The federal government has set out exceptions to legislation that will ban foreign investors from buying non-recreational residential property coming next month. The exemptions, included in the new regulations announced by the Liberal government on Dec. 21, will be used to implement the Prohibition on the Purchase of Residential Property by Non-Canadians Act, starting Jan….
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