After six months of sluggish activity, Toronto’s housing market is showing clear signs of recovery. October saw a significant uptick in sales, with a year-over-year increase of 44% for low-rise homes and 32% for condominiums. While last year’s sales volumes were near 20-year lows, this growth indicates that the GTA market is truly heating up. Key numbers from October 2024 …
The Canadian government has announced new mortgage policies that will take effect on December 15, 2024. These changes are designed to help first-time homebuyers and current mortgage holders: For Insured Mortgages (less than 20% down payment): The maximum purchase price will increase from $1 million to $1.5 million. The maximum amortization period extended from 25 years to 30 years for …
Last update Dec 12, 2022 Update: Bill 23 was passed by the Ontario legislature on November 28. More Homes, Built Faster Act was passed by the Ontario legislature on November 28 and was done fairly quickly. This is the Ontario government’s plan to build 1.5M homes in the next 10 years. Many local municipalities are against this provincial act. One …
