New housing supply solutions you may not have heard before
A group of British Columbia real estate organizations recently made recommendations to the leading federal parties to help address housing issues in the province, and there are a couple ideas that seem like they might work in the GTA too.
Toronto doesn’t have nearly enough rental units to meet demand
You think Toronto’s residential rental market is tight now? According to a recent report from the Royal Bank of Canada, the demand for rent is only going to get stronger, and there’s not enough inventory to accommodate it.
Ontario proposes new administrative authority to help increase housing supply
In an effort to speed up the construction of new housing, the province of Ontario is proposing the creation of a new administrative authority to conduct and oversee building services.
Ontario struggling the most with Canada’s rental affordability crisis
Thanks to the 2019 Canadian Rental Housing Index, we now have a better picture of the rental affordability crisis in Canada, and it hits hard in Ontario. Of the top 20 federal ridings with the worst rental affordability challenges, 11 are in Ontario.
Have condo rents in the Greater Toronto Area peaked?
Condo rental rates were flat during this time period, averaging between $2,600 and $2,650 a month. Purpose-built rental listings were around $2,000 a month in January 2019 and have since increased more than 7% to $2,133.
Nearly half of Canadian parents plan to help their kids buy a home
The Housing Affordability Survey, a Leger poll of more than 1,500 Canadians, commissioned by FP Canada, discovered that 48% of parents with children under 18 years of age intend to assist with the purchase of a first home.
This is how much you need to make an hour to afford rent in Toronto
If you earn minimum wage, there’s a good chance you can’t afford to rent in any neighbourhood in Toronto, according to a new study by the Canadian Centre for Policy Alternatives.
Average rent hits record high as vacancy rate improves
Though there was a slight increase in rental supply in the second quarter of 2019, it doesn’t mean rent got more affordable for tenants in the Greater Toronto Area.
Housing variety is key to improving affordability
There's a change in the air. There’s talk of prefab housing being piloted to combat homelessness. Laneway suites will soon be popping up across all of Toronto. Sidewalk Labs unveiled plans for mass timber building designs and prefab construction.
3-bedroom condo leases in the Greater Toronto Area soar by 47%
According to the Toronto Real Estate Board’s second quarter data, there were 9,749 condos rented through the MLS system in the second quarter of the year. This is nearly a 15% year-over-year increase.
