GO Back Facebook Twitter LinkedIn Email The Canadian housing market experienced a turning point in May, as the average home price in the country rose year over year for the first time in 12 months. According to data released by the Canadian Real Estate Association (CREA), the national average home price reached $729,000 in May,…
Blog Category: Finance
Canadian Home Sales Continue to Rise in May, with Gains in 70% of Local Markets
GO Back Facebook Twitter LinkedIn Email Canadian home sales maintained their upward trajectory in May, defying elevated interest rates and reduced purchasing power. According to the Canadian Real Estate Association (CREA), national home sales increased by 5.1% compared to the previous month. While this gain was lower than April’s growth, it marked a significant milestone…
Canadian Inflation Slows Down, but Another Rate Hike Looms
GO Back Facebook Twitter LinkedIn Email Canadian inflation has shown some positive signs recently, with the Consumer Price Index (CPI) growth rate falling below market expectations. However, a closer look reveals that short-term metrics remain stubborn, prompting experts to predict another rate hike in the near future. In order to gain insight into the current…
Canada’s Largest Real Estate Markets Witnessed Supply Outpacing Population Growth: A Reality Check by Stat Can
GO Back Facebook Twitter LinkedIn Email In a significant revelation, Statistics Canada (Stat Can) has revealed data showing that the housing supply in the Census Metropolitan Areas (CMAs) of Toronto and Vancouver has been expanding at a faster rate than their respective populations. This insightful report casts doubt on the common belief that a lack…
Bank of Canada Rate Hike Puts Pressure on Housing Market Rebound
GO Back Facebook Twitter LinkedIn Email Canada’s housing market, which was in the midst of a rebound, has received a setback due to the Bank of Canada’s decision to raise interest rates. Experts suggest that the rate hike will exert downward pressure on home prices, which have already rebounded faster than anticipated. This article explores…
The Impact of Inflation on Canadian Real Estate Investments
GO Back Facebook Twitter LinkedIn Email and homeowners. Real estate prices are driven by supply and demand dynamics, but inflation can introduce additional complexities. This article explores the relationship between inflation and real estate investments in Canada, discussing the various types of inflation and their implications for investors. Understanding Inflation: Inflation refers to a continuous…
Understanding the Impact of Bank of Canada’s Rate Hike on Mortgage Owners
GO Back Facebook Twitter LinkedIn Email The unexpected decision by the Bank of Canada to raise interest rates is predicted to result in higher mortgage costs for homeowners, according to experts. With fixed rates already on the rise, the rate hike further amplifies the financial burden on those with variable-rate mortgages and home equity lines…
Comparing Property Tax Rates in GTA Cities Can Help Homebuyers Make Informed Decisions
GO Back Facebook Twitter LinkedIn Email When considering a property purchase in the Greater Toronto Area (GTA) and keeping your options open regarding which city to reside in, it is important to consider how property taxes will affect your budget. Local governments determine property taxes to cover the costs of essential services such as transportation,…
Scotiabank Urges Bank of Canada to Increase Rates for Real Estate Stability
GO Back Facebook Twitter LinkedIn Email Scotiabank, one of Canada’s major banks, has raised concerns about the soaring Canadian real estate market, emphasizing the need for the Bank of Canada (BoC) to promptly raise interest rates. Failure to do so, according to Scotiabank, could result in uncontrollable real estate prices, rising inflation, and potential economic…
Newcomers Driving Real Estate Investment in Ontario
GO Back Facebook Twitter LinkedIn Email Statistics Canada recently published a profile that sheds light on the significant role immigrants play in the Ontario real estate market. The study reveals that elderly, frequently immigrant residents are investing in housing near home, influencing the provincial residential real estate landscape. The findings emphasize the significance of immigrants…