All signs are pointing to a tightening Toronto housing market for 2024 after a year of soaring interest rates and a more than two-decade low in home sales. In January, home sales were up by 37 per cent compared to the same period the year before, according to a report by the Toronto Regional Real
Post City’s roundtable panellists shed light on the effect a recession could have on Toronto’s housing market in the coming year
Remember early 2009, when Toronto’s housing market slowed to a near halt? The current boom, which started in the second half of last year, helped many forget. However, a new report says 2010 will be the flip side of last year.
The costs for a Willowdale development aimed at providing low-cost housing for Torontonians experiencing homelessness has more than doubled, according to the Toronto Star. A report for action concerning the City’s Modular Housing Initiative Phase 2 project provides updates on the progress of two key housing projects (at 175 Cummer Avenue and 39 Dundalk Drive)
Developers have submitted a site plan approval application to build a 29-storey mixed-use building with 294 residential units at 140 Merton Street, in Toronto’s Davisville Village area. The project is led by CreateTO and is the first non-profit developed Housing Now site led by an Indigenous organization (Housing Now uses City-owned land to develop affordable housing). The
Mayor Olivia Chow and Councillor Dianne Saxe announced a new affordable rental housing development for the Kensington Market neighbourhood, as well as community housing provider partnerships for the Kensington Market development and another development in Parkdale. These projects are being delivered under the city’s public developer delivery model and are part of a city-wide effort
Faced with elevated housing prices, many residents in the Greater Toronto Area (GTA) are looking at moving to cities with more affordable housing. In a new survey by Royal LePage, 51 per cent of respondents said they would consider buying property in one of Canada’s most affordable cities if they were able to find a
Toronto was experiencing a cooler spring real estate market this year than the season usually warrants, data shows, but there are signs of a market upturn. The Toronto Regional Real Estate Board (TRREB) reported that home sales were down in April compared to the same time last year, new listings were up “strongly,” and there
We asked nine of the city’s top real estate experts for their thoughts on what the market will bring in the months ahead. They gave their input on everything from investing to the likelihood of a seller’s market and where housing prices are headed for spring. Realtors Barry Cohen, President of Re/Max Realtron Barry Cohen Homes Inc., Anya Ettinger,
We asked nine of the city’s top real estate experts for their thoughts on what the market will bring in the months ahead. They gave their input on everything from investing to the likelihood of a seller’s market and where prices are headed for spring. Developers Jennifer Keesmaat, President and CEO of Collecdev-Markee, and Brad Lamb,
Home ownership is a dream for many in the pricey Toronto real estate market, but some are also finding buying a home comes with strings attached when one member of a couple contributes significantly more to a property. As the owner of a two-bedroom downtown condo, Elizabeth Smith (not her real name) is worried about
What type of home can you score with a $1 million budget? That answer depends on where you live — and in Toronto, you can expect less square footage and fewer bedrooms than the rest of the country, according to a new report. The Royal LePage Million-Dollar Properties report looked at $1 million properties across the
Plans to build modular housing next to an assisted living facility in Willowdale are like not in jeopardy, but might be delayed further, after groups opposed to the project reportedly filed to have a recent Ontario Land Tribunal appeal ruling reviewed. Last month, the City of Toronto won an appeal launched by various community groups
Heading into 2024, interest rates are still high and experts are still forecasting a few more tough months of Toronto’s housing slump. But the end of 2023 and beginning of this month have brought some promising signs — most of which point to a potential market recovery. Recent reports found that Toronto and the whole
The GTA real estate market is looking grim with home sales trending downwards, a substantial year-over-year increase in new listings and even the benchmark home price in the city on the decline, according to a new report by the Toronto Regional Real Estate Board (TRREB). But analysts say that relief is in sight — lower
Last month, the City of Toronto approved a $30 billion new housing plan that positioned the city as a public builder and called for significant funding from the provincial and federal governments, voting in favour of building 65,000 rent-controlled units by 2030. Jennifer Keesmaat, developer with Markee Developments, gives us her take on the viability
When a plan comes with tag of it being a “generational transformation,” that is setting the bar pretty high. But the new $30 billion housing plan from the city of Toronto could be one of those rare times a government strives for greatness. This is a plan that first and foremost gets the city of
In a time when housing supply is more necessary than ever, a new report found that housing starts across Canada’s largest cities increased by only 1 per cent in the first half of 2023. This number comes despite a record high of housing starts in Toronto and an even larger increase in housing starts in
The housing correction in Toronto and beyond this past year saw home prices plunging by as much as 20 per cent, supply on the decline and mortgage rates reaching levels the country hasn’t seen in over two decades. It was described as the harshest correction seen in 50 years by some experts. But now, a
We asked 10 of the city’s top real estate experts for their thoughts on what the market will bring in the months ahead. They gave their input on everything from interest rates to the recession to the housing crisis. Brad Lamb, president of Brad J. Lamb Realty and Lamb Development predicts what’s coming for the
Jay Pitter, principal placemaker of Jay Pitter Placemaking, discusses the Science Centre deal and the broader battle between cultural preservation and the need for housing. Should the Science Centre be moved for the purpose of building housing? The individuals in the community where the Science Centre is located, just like everyone else in this city,
We asked former chief city planner and Markee Developments partner Jennifer Keesmaat, condo king Brad Lamb, design expert Brian Gluckstein and placemaker Jay Pitter on how to solve the city’s affordability crisis as part of our spring market update with the Rotman School of Management. Here’s how that conversation went. STREETS: Brad and Jennifer, the
A new report from Statistics Canada found investors account for a whopping 36.2 per cent of condo owners in Toronto, 41.9 per cent in Ontario and for 20.2 per cent of homeowners in Ontario. Jennifer Keesmaat, former chief city planner and founder of rental housing development company Markee Developments, gets into what this means for
Home prices in Toronto posted the biggest drop of all but one other Canadian housing market between the second and third quarters of this year, says a new national housing report. For the period between the beginning of July and the end of September, the median aggregate selling price of a Toronto home, including all
As home prices and sales collapse across Canada, the Toronto housing market may be on the verge of its harshest correction in 50 years, one of the country’s biggest banks warns in a new report. “Canada’s least affordable markets Vancouver and Toronto, and their surrounding regions, are most at risk in light of their excessively
