Over the next three years, nearly 900,000 Baby Boomers are expected to retire in Canada. In tandem, the long anticipated $1-trillion intergenerational transfer of wealth from Boomers to Generation X (which is already underway) will continue. With inherited properties included in this wealth transfer, major shifts pertaining to ownership are coming to the real estate market, and Cottage Country is no exception. So, what does this all mean if you own a cottage in Canada, or expect to become a beneficiary? Research shows that succession planning has become more relevant. According to a Leger sur ..read more

ARCHIVE Brampton Housing Market Outlook (2021) Brampton housing market to favour sellers in 2021, prices expected to rise 5% The Brampton housing market is expected to see continued seller’s market conditions in 2021, impacted by lack of housing supply that’s prompting rising average prices. Low inventory has been a common trend across many Ontario housing markets, with price growth reported in most markets. Indeed, Brampton real estate saw average prices rise to $835,088 in 2020 (Jan. 1-Oct. 31) compared to $727,035 in 2019 (Jan. 1-Dec. 31). It is anticipated that the market will see furt ..read more

Confidence continues in Canadian real estate market, with the inter-provincial relocation trend likely to remain strong in 2022 Migration between provinces expected to continue in 2022, potentially impacting local Canadian real estate conditions, according to 53 per cent of RE/MAX brokers (20 out of 38) 49 per cent of Canadians believe the housing market will remain steady in 2022 and view real estate as one of the best investment options over the next year Some of the highest outlooks are anticipated for Atlantic Canada, with Moncton and Halifax projecting average residential sales prices to ..read more

A recent RE/MAX Canada report has highlighted shifting consumer trends in Canadian real estate, driven primarily by challenging market conditions and Covid-19. The 2021 Renovation Investment Report found more than half of Canadians renovated their home for personal enjoyment, not the perceived return on investment (ROI) that was the driver behind many renovation decisions in the past. Tightening market conditions from coast to coast and the “lockdown effect” of Covid-19 were factors in the shift. Renovation Trends in Canadian Real Estate Three in 10 Canadians (29 per cent) renovated for non ..read more

The First Time Home Buyer Incentive (FTHBI) is a shared-equity mortgage aimed at middle-class first-time home buyers, designed to lower their monthly mortgage payments without increasing the amount they need to save for a down payment. Canada’s First Time Home Buyer Incentive How does the First Time Home Buyer Incentive work Why is the First Time Home Buyer Incentive important for Canadians? What to consider before getting the First Time Home Buyer Incentive Do I qualify for the First Time Home Buyer Incentive? Will the First Time Home Buyer Incentive really help? How does the First Time Ho ..read more

Canadian housing market expected to remain strong this fall, despite Delta variant, say RE/MAX brokers and realtors Young families driving demand for single-detached homes in cities across the country Canadian housing market prices are anticipated to increase by 5% in the remaining months of 2021, according to RE/MAX brokers and agents. 27/30 major Canadian housing markets analyzed are seller’s markets, driven by lack of supply and high demand. Toronto, ON and Kelowna, BC, October 5, 2021 – Early indicators from RE/MAX brokers and agents across the Canadian housing market suggest steady acti ..read more

In the first year or so of the coronavirus pandemic, the unthinkable happened: The rental market, from Toronto to Vancouver, collapsed. After years of meteoric growth for a typical one- or two-bedroom apartment, the market cratered and tilted in favour of renters over landlords and property management firms. Indeed, there was a lot of reshuffling during this span, giving tenants an opportunity to find a better place and lock in lower rates amid price controls. There were many factors that led to the drop in rents throughout the Toronto rental market and the broader Ontario real estate market ..read more

It should come as no surprise that affordability in the Canadian housing market has become a key issue in the upcoming federal election. According to a recent RE/MAX report, 42 per cent of Canadians said the high cost of housing was preventing them from entering the housing market, and 48 per cent shared concerns over their ability to afford a home in the next two years. This concern was significantly higher among young Canadians aged 18 to 34, with 71 per cent of them sharing this sentiment. So, how do we improve affordability in the Canadian housing market? If this sounds familiar, it shoul ..read more

Relocation, relocation, relocation: Canadians love their neighbourhoods, but will move to achieve housing affordability For 64 per cent of Canadians, relocation is among the top sacrifice they’d be willing to make in order to achieve housing affordability; however, half (50 per cent) agree that the farthest they would go would be less than 100 kilometres 56 per cent say that moving to a different neighbourhood/community would be one of the top three sacrifices they would make 38 per cent would make the sacrifice of moving to a different city/province/region regardless of distance 38 per c ..read more

How can GTA real estate thrive in the middle of a pandemic? Over the last year, as the economy was brought to an abrupt pause resulting in millions of job losses, the Canadian housing market flourished. Prices and sales activity roared like never before, setting new records fuelled by historically low interest rates, pent-up demand, and new home-buying trends. To get a sense of just how red-hot the housing market is in the Toronto region, take a peek at this statistic: since the start of 2021, about 4,000 GTA listings have sold for over 110 per cent of the asking price. The consensus is that ..read more