63 h. ago Greater Toronto home sales fall in November as prices, new listings decline: board

Toronto's real estate board says activity, new listings and average selling prices were down last month as potential homebuyers stayed on the sidelines.

Economics

3 d. ago TRREB Statement on Proposed Increase to Toronto’s Land Transfer Tax on Higher Value Homes

TORONTO, Dec. 02, 2025 (GLOBE NEWSWIRE) — Municipal land transfer taxes (MLTTs) hurt the Canadian dream of home ownership by taking thousands of dollars out of home buyers’ pockets. With average home prices in the City of Toronto exceeding $1 million, the Toronto MLTT adds over $17,000 to the upfront closing cost of buying a […]

Economics

2 w. ago Average Toronto renter earns more than $94k but still can't afford to buy

Average rent prices in Toronto are on a downslide, having fallen more drastically than in any other metropolis in the country over the last year. But, the cost of living in the city is still far from affordable — so much so that even those making an impressive salary of nearly $100k are choosing to (or being forced to) serve as long-term tenants rather than buying a place of their own.This revelation comes from yet another new report on the state of the market; this one, from tenant screening platform SingleKey, which sifted through data from across the country — namely, hundreds of thousands of rental applications — to paint a picture of what renting in Canada is like in 2025.Of interest to Toronto residents, of course, is how our numbers differ from other hubs. And yes, the contrast is quite substantial. While T.O.'s tenants pay noticeably more for a place to live than their counterparts in four of the five other cities...

Economics

3 w. ago Rent prices declining more in 3 Ontario cities than anywhere else in Canada

Three Ontario cities lead the entire nation in rental price declines amid a historic market downturn in the province.Despite Ontario being home to four of the ten most expensive places in Canada to rent a one-bedroom apartment, a new report paints a grim picture for landlords in the province, as rent prices in some markets plummet at rates exceeding anywhere else in the country.The latest national rent report from Zumper outlines sharp annual declines in rent prices for one-bedroom units in Toronto, Barrie, and London.Toronto experienced the greatest annual decline in one-bedroom rent prices, dropping by 9.6 per cent year-over-year to $2,170. Toronto also witnessed the steepest nationwide decline in two-bedroom rent prices, dropping 11 per cent year-over-year to an average of $2,760.However, even after these significant declines in average rents, Toronto maintains its rank as the third most expensive place to rent a one-bedroom unit in the country, trailing Vancouver and one of its ...

Economics

3 w. ago This Ontario city has seen rents plummet by almost $260 this year

A new real estate report reveals that housing and job markets in Ontario have drifted out of balance in most cities across the province, with the exception of a few, including one that's actually seen rents plummet by nearly $260 this year. Real estate agency Zoocasa analyzed rent prices and unemployment rates across Canada from January to September 2025 to see how unemployment trends are affecting housing trends.Although the report notes that in a healthy economy, unemployment rates range between 3.5 and 4.5 per cent, none of the Ontario cities analyzed had an unemployment rate below 5.7 per cent. However, while several cities recorded increases in average rents despite high unemployment rates, a handful of Ontario municipalities experienced declines in average rent during the first nine months of 2025.Rent prices versus unemployment rates in Canadian cities from January to September 2025. Source: Zoocasa.In Toronto, the average rent in January was $2,360 and dip...

Economics

4 w. ago Toronto housing market is dying and here's how much average prices have dropped

Home sales and prices in the Greater Toronto Area (GTA) continue to plummet to historic lows. These trends continued through October 2025, casting further doubt on the future of the region's turbulent housing market.The latest data from the Toronto Regional Real Estate Board (TRREB) highlights continued market challenges affecting homeowners and sellers, while the ever-falling cost of a home in the region offers a ray of hope for would-be homebuyers who have been priced out of the market throughout the last decade of runaway land values.TRREB's Oct. 2025 data reveals that home sales have once again declined year-over-year in the region, with 6,138 home sales representing a 9.5 per cent drop over the same period in 2024.The City of Toronto registered 155 fewer home sales year-over-year, while 905-region sales declined by 491 homes. Overall, GTA home sales declined by 646 units in October 2025 from the 6,784 units sold during the same period last year.Figures were also down mo...

Economics

4 w. ago Ontario house with a hot tub just outside the city somehow under $500K

Anyone who's spent time doomscrolling through Toronto real estate listings lately knows that "starter home" has basically become code for "condemned shack that'll eat your savings and your will to live."Despite a slower market, the average home in Toronto still sells for over $1 million, which makes finding a detached house that isn't a full-gut renovation money pit feel like a fantasy.But if you're willing to look just outside the city — say, in Oshawa — you might be surprised by what half that price can get you.The living room. Take 200 Court St., for example. This fully updated, three-bedroom detached home is listed for under $500,000. Yes, you read that right — a whole house costs less than your average downtown Toronto one-bedroom condo.The dining room. Nestled on a quiet, family-friendly street, the home is completely turnkey, meaning you won't have to spend the next year arguing over backsplash tiles or ...

Economics