GTHA: Townhouses Hold Their Ground
Townhouse sales in the Greater Toronto Area remained steady in 2024, with 3,255 units sold. Demand for townhouses surged in Q4 2024, reaching a two-year high and making up 60% of late-year sales.
Is the GTA Housing Market on the Rise Again?
Market analysts predict steady home sales in 2025, supported by improving economic conditions and buyer confidence. Potential further rate cuts could enhance affordability, encouraging more buyers to enter the market.
Tax Breaks Fuel Short-Lived Toronto Rental Surge
Tax cuts led to a temporary increase in rental construction in Toronto, but the effects were short-lived. The GTHA saw rental starts surge from 16% to 27%, tripling in Toronto to 51%.
Important information about your 2025 property taxes
The City of Brampton has issued its interim property tax bills for 2025, with payments due on February 19, March 19, and April 23. Continue to full article
New $1,000 fines for small rental bedrooms and occupancy limits introduced in Brampton
Brampton has introduced new fines of up to $1,000 for landlords who overcrowd rental properties. The updated bylaws set occupancy limits based on room size, with specific square meter requirements for different numbers of occupants. Fines increase with repeated violations. The changes aim to address community concerns about overcrowding while ensuring safe housing. Previous measures […]
Reforming Development Charges: Cutting GTA Housing Costs?
Development charges have soared up to $163,000 per home in GTA, increasing housing costs significantly.Development charges fund vital infrastructure like water, roads, and sewage for new housing projects in Ontario.
GTA New Home Sales Plummet to 40-Year Low
GTA new home sales hit a 40-year low in December, with only 310 units sold.New condo sales in December ↓ 63% yearly, and were 86% below the 10-year avg.
Toronto Boosts Homeownership Aid for Higher Earners
Toronto expands support for higher-income earners, enabling families earning up to $160,000 to access homeownership aid. The Home Ownership Assistance Program (HOAP) eligibility now includes households in the 80th income percentile, up from 60th.
GTHA Condo Sales Plummet 64%
New condo sales in GTHA dropped 64% at the end of 2024, marking the lowest sales since 1996. Investor challenges, including negative cash flow and financing difficulties, contribute to the ongoing market decline.
GTA Condo Buyers Leverage Increased Inventory
Homebuyers in the Greater Toronto Area gain negotiating power due to increased condo listings at the end of 2024.First-time buyers benefit from lower borrowing costs and stronger negotiating power in early 2025.