Category: Uncategorized
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GTA Housing Stock Gap Hits 50-Year High
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.
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GTA Condo Listings Soar Ahead of Rate Cuts
Double-digit condominium inventory growth in Toronto reflects increased seller participation as buyers anticipate future rate cuts.Average condominium prices in Greater Toronto fell by 2% compared to the previous year, reaching ~$733K
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Bruce County offering homeowners $50,000 to build affordable rental units
Bruce County has launched a pilot program to encourage homeowners to add affordable rental units to their properties, aiming to reduce a waiting list of over 1,000 people for community housing. Homeowners can receive up to $50,000 to create units like basement apartments or tiny homes, with rent capped at $1,040 for one-bedroom and $1,464…
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GTA Housing Market: Growing Demand-Supply Gap
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability.
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GTA’s Home Sales Rise in Late-Q3: Is Recovery Close?
GTA home sales in September reached 4,996, slightly up from August but 8.5% higher than September last year. The increase in sales is driven by lower interest rates and affordable conditions, boosting homeownership demand.
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More housing planned for Mississauga’s Lakeview Village
Mississauga City Council has approved a by-law for community benefits and affordable housing at the Lakeview Village development, increasing unit plans from 8,050 to 16,000. LCPL will contribute $28 million for the reconstruction of the Lakeview Village Pier, in addition to a previous $14 million commitment. Five percent of units beyond 8,050 will be affordable,…
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GTA New Home Sales Hit Historical Low in Mid-Q3
New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.
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GTA Mortgage Woes: Delinquency Rates Surge 42%!
Canada’s largest mortgage lender faces rising delinquencies in the Greater Toronto Area mortgage portfolio. Serious delinquency rates surged to 0.27% in Q3 2024, a 42% increase from the previous quarter.
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Fewer Applications: GTA Housing Supply at Risk
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
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Contested affordable housing development returns for approvals in Mississauga
An affordable housing project by Indwell Community Homes in Mississauga is under consideration. The four-storey, 51-unit building at 1639 Lakeshore Rd. W includes ground-floor commercial space. Residents oppose it due to concerns over retail space loss, parking, and safety. Funded by the Canada Mortgage and Housing Corporation and Peel Region, it aims to open in…