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Cautious buyers will push Toronto

Not even high interest rates can curb Toronto housing prices

Inflated interest rates may have made real estate in already-overpriced Toronto completely unaffordable to all but the ultra-wealthy in recent months, but even if mortgage and tax bills on the average Toronto home now amount to upwards of $7,000 per month, prices have yet to drop to match the decline in market activity. Sales for both condos and homes in the GTA have been tanking, but even with...

Toronto real estate market may be poised for a spring rebound

Federal GST Removal on Purpose-Built Rental Units

Federal GST Removal on Purpose-Built Rental Units The federal government recently announced an enhancement to the Goods and Services Tax (GST) Rental Rebate on new purpose-built rental housing to encourage the construction of much-needed rental housing stock across the country. If passed, this action will contribute to greater affordability in the rental market, as the removal of GST will apply to...

Bank of Canada

Bank of Canada maintains policy rate

Bank of Canada maintains policy rate, continues quantitative tightening FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario September 6, 2023 The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflation in advanced economies has continued to come down,...

Yorkville overview

LACK OF LISTINGS LED TO TIGHTER GTA MARKET CONDITIONS IN JUNE

TRREB Urges Governments to Accelerate Action on Housing Supply TORONTO, ONTARIO, July 6, 2023 – Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to...

Bank of Canada

Gabriela has saved a ton of money living with her parents. Is the time right to buy or rent?

The 27-year-old teacher has saved up a lot of money and wants to take the next step, but doesn’t know whether she should rent or buy property. “I want to move out ideally to my own purchased home or rent without a roommate,” Gabriela says. “But my goal is to purchase a home — or more likely a condo — in the next couple of years and I want to live in Parklawn/Mimico area. Somewhere near the...

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