A new report by Statistics Canada shows the country’s total number of short-term rental listings increased by more than 60 per cent between 2017 and 2023, while the number of short-term rental units that could be used as long-term housing grew by more than 80 per cent. The report identified more than 100,000 short-term rentals that … Read more
Real estate activity across Canada in June showed a drop in both sales and housing prices compared to June 2023, says the Canadian Real Estate Association, though sales perked up a bit compared to May 2024. According to the latest numbers from CREA, home sales activity as registered in the Canadian Multiple Listing Service (MLS) went up … Read more
Anna Smith would like to start a family. But she would also like more space for a baby, as the 27-year-old and her partner currently live in a 500-square-foot apartment in Toronto’s east end for $1,550 per month. Like many Canadians in their 20s and 30s, she says she’s realizing she can’t have both. So Smith, a University of … Read more
The annual rate of new home construction was up in May, while home sales were slightly down, according to data released separately on Monday by the Canada Mortgage and Housing Corporation and the Canadian Real Estate Association. Referred to as housing starts, new home construction was up 10 per cent in May compared to the previous … Read more
The federal government tabled its annual budget on Tuesday with a promise to open the door to homeownership for millennial and Gen Z renters. You’ll have to read the fine print to find measures for young renters who can’t buy a home — or just don’t want to. In her budget document, Finance Minister Chrystia … Read more
The housing market could soon get “interesting,” economists say, as home prices and sales start to edge up, according to a pair of new reports released Friday. In its latest quarterly Home Price Update and Market Forecast, Royal LePage is forecasting that the aggregate price of a home in Canada will increase nine per cent in the fourth … Read more
The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building will help lower housing costs, but “only gradually.” “In the short term any increase in population, particularly in an environment of constrained supply, is going … Read more
The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rental and home prices could continue to rise without a boost to housing supply. In a speech in Windsor, Ont., deputy governor Toni Gravelle acknowledged many of the benefits coming from this rise in immigration, … Read more
