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Bank of Canada drops key interest rate to 4.75%
BoC drops key interest rate to 4.75%
The Bank of Canada (BoC) has reduced its overnight interest rate target by 25 BPS to 4.75 per cent, the first reduction in the rate since the central bank instituted a policy of rapid increases over two years ago.
Greater Toronto home sales down in May
The Toronto Regional Real Estate Board says 7,013 homes changed hands in the month compared with 8,960 in May of last year. The average selling price in the Greater Toronto Area was down 2.5 per cent year-over-year to $1,165,691.
Feds launch $1.5B program to build more co-op housing
Federal Housing Minister Sean Fraser has announced the launch of a $1.5-billion co-operative housing development program the federal government promised in its 2022 budget. He touted the program as the largest federal investment in co-op housing in decades.
 | Residential Landscape Federal, Ontario governments take steps to ease the housing crisisBarbara LawlorPartner & CEO, Baker Real Estate Inc. |
Why is Toronto's rental construction now slumping?
Progress on Toronto rental construction has began to sputter, with builders and experts warning the slowdown could mean continually squeezed markets in the years to come, which threaten to push rent prices further upwards.
Here's how much it really costs to own home in Toronto
A report found that monthly costs associated with owning a home in Toronto could reach a total of $8,532 a month, including mortgage, property tax, home insurance, utilities, internet/TV/streaming bills and a home emergency fund.
Vancouver falling short of B.C.-mandated housing targets
Vancouver is falling short of the first-year housing target set by the province, but city planners say they expect the number of completed homes to increase in the next few years and surpass the B.C.-mandated five-year target of 28,900.
Vancouver home sales fall nearly 20% in May
Greater Vancouver’s real estate board says the number of homes that changed hands in May fell 19.9 per cent from the previous year as more new properties continued to hit the market.
Home sales drop almost 20% in Windsor-Essex
There was about a 20 per cent drop in home sales in May compared to the same time a year ago, according to the Windsor-Essex County Association of Realtors (WECAR), which says 464 homes were sold that month.
Period of rapid price climb ends in Windsor, rents stabilize
After a rapid climb through the pandemic, rents around Windsor have stabilized. According to new data, the cost of a one-bedroom apartment decreased 4.1 per cent while a two-bedroom unit decreased 1.2. per cent from the same time last year.
Be prepared, additional rate cuts will be very gradual
OPINION: The Bank of Canada’s decision to lower interest rates by a quarter of a percentage point is welcome news. It demonstrates that the central bank has confidence the battle against inflation is nearing completion.
Brownfields ‘key to unlocking’ Toronto housing potential
If Toronto is to meet its goal of adding 285,000 new homes over the next decade, it won’t be by simply densifying existing residential neighbourhoods. Brownfields are "the key to unlocking that potential,” according to Jennifer McKelvie, Toronto’s deputy mayor.
Bold action needed to reach Canada’s unlikely housing target
For Canada to meet its target of building 5.1 million homes in the next 12 years, cutting-edge strategies are needed imminently to ensure housing affordability, scalability and climate compatibility are achieved along the way. Apartments face numerous obstacles stifling development.
Bank of Mom and Dad helping young adults to buy homes
According to Statistics Canada, 16.2 per cent of homes owned in 2021 by people born in the 1990s in the London, Ont. area are also co-owned by their parents, slightly below the 17.3 per cent rate seen across the country.
Meeting the housing needs of an aging nation
As baby boomers continue to retire, seniors remain the fastest-growing demographic in Canada. According to Statistics Canada, the number of people aged 85 and older more than doubled between 2001 and 2021, currently representing 2.3 per cent of the population.
Is mass timber the next big thing in greener construction?
Urban downtowns are sometimes called concrete jungles because the buildings that make up skylines from New York to Vancouver are generally made of — what else? — concrete. But that could change with a push to build more tall buildings with timber.
These B.C. cities were closest to being dubbed 'affordable'
B.C. didn’t make the cut in a new ranking of the 15 most affordable cities in Canada, but according to Royal LePage, Kelowna and Abbotsford were nearly contenders and did scratch the top 30.
‘Wake-up call’ on problem buildings
Winnipeg resources are being strained by the scourge of problem properties, which are often magnets for arsonists and drug users, a task force reported, as it revealed the government receives a call a day to respond to such sites.
Plans for $1.1M modular home project in Collingwood 'progressing'
First presented in March, the Simcoe County, Ont. general manager of social and community services said at that time the county was planning to bring a $1.1-million transitional modular housing program to the area this year.
Devcore unveils plans for tiny homes community in Gatineau
The Devcore Group has unveiled plans for a $5-million community of tiny homes, built out of shipping containers, to address Gatineau’s homelessness crisis. The development is being billed as the first of its kind in Quebec.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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