Category: Latest Posts
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Ontario new home sales jump 130 percent after enhanced HST rebate, but condo market still lags
Ontario’s new home market has seen a remarkable 130% increase in sales this past quarter, reaching 8,410 units. This surge is largely fueled by the enhanced HST rebate, especially benefiting buyers of low-rise homes—a sector I work with closely across York Region, Peel, Halton, Durham, and Toronto. While this momentum is encouraging for families seeking detached, semi-detached, and townhomes, the condo segment tells a different story. Condo sales rose just 12%, still trailing well below historical averages. High development charges, ongoing project delays, and restrictive zoning continue to weigh down overall activity, especially for those eyeing urban or investment properties. With over a decade advising clients on both new builds and pre-construction opportunities, I’ve seen how navigating these market dynamics requires thoughtful strategy and local expertise. Understanding both the incentives and the obstacles can make all the difference in finding the right fit in Ontario’s evolving housing landscape.
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Condo Market Report
The GTA condo market continues to evolve, and Q2 2026 brought some notable changes worth highlighting. Condo sales climbed by 8.8%, signaling renewed buyer activity even as both new and active listings declined by 19.0% and 15.4% respectively. With the average price dropping 7.5% to $634,972, affordability has improved—an encouraging sign for those looking to enter the market or make a strategic move. This shift in buyer demand could help stabilize prices as we move into 2027. In my experience helping clients navigate Toronto and the surrounding regions, understanding these trends is key to making informed decisions, whether you're searching for a modern condo or planning your next investment.
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Canada Housing Just Got More Interesting
The Canadian housing market is seeing interesting shifts—sales are regaining momentum, yet many buyers are still approaching their decisions with care. While overall activity hasn’t reached last year’s pace, the drop in new listings alongside improved sales is moving supply and demand toward a healthier balance. Notably, price growth remains modest, which means buyers can plan with more confidence and less concern over sudden price swings. For clients navigating the Greater Toronto Area and surrounding regions, these regional differences are especially pronounced. As someone who’s spent years guiding clients through the nuances of Ontario’s market—whether in York, Peel, Halton, Durham, or Toronto—I know how crucial it is to select the right area and timing. Every neighborhood tells its own story, and understanding these local trends can make all the difference when buying or selling.
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Ontario Tax Relief Spurs New Homes
For anyone navigating Ontario’s real estate market, the impact of taxes and government charges on new home pricing is substantial—these costs make up about 36% of the total price, with development charges alone often surpassing $100,000 per single-family residence in many municipalities. When other levies are considered, that figure can climb to $200,000, placing significant pressure on both buyers and builders. Recently, a joint federal-provincial initiative has allowed municipalities to access critical funding, provided they reduce residential development charges by 30% to 50% (or more) and maintain those reductions for at least three years. The results have been notable: with the HST cut, Ontario recorded 8,400 new home sales in the first three months—up sharply from 3,600 in the same period year over year. As someone who has helped clients secure homes and investments across York, Peel, Halton, Durham, and Toronto, I’ve seen firsthand how policies like a permanent HST rebate and consistently lower development charges could offer much-needed certainty for buyers, builders, and municipalities alike. These steps would not only improve affordability but also help boost housing supply—a crucial win for our communities.
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Signs of optimism for new housing
Ontario’s new home construction is navigating a complex landscape—projected to decrease from 75,000 units in 2022 to just 25,000 by 2025, hitting a three-decade low. Yet, even in this challenging environment, consumer confidence remains evident: $40 million in support has been invested, and buyers can benefit from deposit protection up to $100,000. As someone who works daily with pre-construction opportunities across Toronto and the GTA, I know how vital it is for clients to understand both the risks and the safeguards in today’s market. My focus is always on helping clients make informed decisions—whether you’re looking at a family home or considering a strategic investment.
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More than 3,200 homes moving forward after Markham council grants approvals for 3 projects
Exciting news for Markham’s real estate landscape: more than 3,200 new homes have received the green light from city council, spanning three major sites. This includes a community of over 2,000 homes—complete with a new school and 29 hectares of parkland—near Highway 48, 1,183 additional units in the Leslie Street and Highway 7 area, and 18 townhomes on Green Lane. As someone who’s spent years guiding clients through York Region’s evolving markets, I recognize the significance of well-planned growth and the value these developments bring to both buyers and investors. Markham continues to offer diverse opportunities, whether you’re seeking a family-friendly neighbourhood or considering a strategic move into pre-construction. My commitment has always been to provide clients with timely insights and trusted guidance as the GTA expands and transforms.
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New report suggests HST rebate continues to boost single-family new home sales across GTA
The latest numbers from July show just how much policy can influence our local real estate landscape. New single-family home sales across the GTA surged to 781 units—a threefold increase—largely thanks to the continued impact of the HST rebate. Pricing also saw a shift, with single-family homes averaging $1.36M (down 8.5%), making this segment more accessible for many buyers. Condos remain steady, with modest sales growth and prices up 2.5% to $1.05M, while inventory sits at 18,546 units. As someone with a decade of experience helping clients navigate the GTA’s dynamic market, I’ve seen firsthand how incentives like the HST rebate can open new doors for buyers and investors alike. Understanding these trends is key to making informed decisions—whether you’re searching for a detached home, a modern condo, or looking into pre-construction opportunities.
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Canada’s Affordability Streak Hits 10 Quarters
Canada has now seen 10 straight quarters where housing affordability has been a major challenge—a trend that many of you, whether buying or selling in the GTA, York, Peel, Halton, or Durham, have felt firsthand. With mortgage rates no longer expected to offer relief, economists are turning the focus toward home prices and household income as the key factors shaping affordability going forward. Over the next year, the consensus is that mortgage rates will likely hold steady or even rise slightly, which means any improvement in affordability will depend more on whether home prices moderate. Slower population growth may help ease demand and contain price pressures, while a strengthening labour market is a positive sign for household incomes. It’s worth noting, though, that these effects aren’t felt evenly—market dynamics in Toronto and Vancouver are quite different from what clients are experiencing in Calgary or Edmonton. As someone who prioritizes accurate valuations and tailored advice, I always emphasize how truly local these trends can be. While a healthier job market may offer some support, economists warn that without sustained moderation in home prices, substantial progress on affordability will remain limited. Each community has its own story, and it’s my role to help clients navigate these shifts with clarity and confidence.
