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Toronto's budget chief, Shelley Carroll, warns of a significant property tax increase due to the city's fiscal crisis and $1.8 billion deficit. She suggests a sales tax as property tax alone cannot meet the city's needs. Critics demand any increase should match inflation. Continue to full article

Toronto's Real Estate market is set to rebound in 2024 after higher borrowing costs affected sales in the past year. Royal LePage predicts ↑ 6% in aggregate home prices, reaching an avg of ~$1.2M in 2024. Single-family detached homes in Toronto are expected to see ↑ 7% in prices, while GTA condos may ↑ 5%.…

The City of Toronto has proposed a 2024 budget with a nine-per-cent property tax increase for residential properties and a 10-year capital plan of $49.8 billion. The budget aims to achieve financial stability and sustainability through a new multi-year approach. The operating budget includes additional spending on new initiatives, and the capital budget includes a…

A survey reveals 48% of Ontario homeowners and potential buyers altered plans due to increased interest rates. Changed Home Investment Views: Those who saw home buying as a solid investment now delay.

Major forecasts conflict on Toronto's 2024 housing market, with some predicting a buyer's market. Toronto's real estate expected to surge 6% by end of 2024, nearing $1.2 million.

Rising interest rates impact housing affordability for prospective buyers, reshaping the market dynamics and influencing purchasing decisions.Government measures, like restricting non-Canadian buyers and higher interest rates, contribute to signs of a potential market correction.

Toronto's real estate market struggled in 2023 due to high mortgage rates and strict standards, leading to decreased home sales. The rental market, however, saw more favorable conditions. Despite this, the population continued to grow. In 2024, lower borrowing costs may improve affordability and stimulate market activity, though prices could fluctuate. Continue to full article

The Market of Inventory (MOI) for houses ↓ to 3.7 in Mid-Q4, indicating a balance between supply and demand. -Median house prices ↓ 1% yearly to $1.14M in Mid-Q4. -House sales remained stable yearly -New house listings ↑ 22%

The federal government says it will give Toronto nearly half a billion dollars in housing funding. Prime Minister Justin Trudeau made the announcement in Toronto this morning, saying the city will … Continue to full article

Prime Minister Justin Trudeau announced $471 million in funding through the Housing Accelerator Fund (HAF) in Toronto. The funding is contingent on the city building an additional 11,780 homes over the next three years. The goal is to build 65,000 rent-controlled homes and meet the provincial target of 285,000 homes by 2031. The HAF aims…