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Browsing: Real Estate News
Canadian real estate and housing news from Canada News Media, including home sales, prices, rents, mortgages and construction.
Toronto actual housing starts fell 61% in September from a year earlier while Calgary and Vancouver rose, CMHC data show, a split that tracks the condo slump.
CIBC and TD raised fixed mortgage rates by 0.20 percentage points on Sept. 29. On a $500,000 mortgage, that adds about $55 a month, or $3,318 over five years.
Royal LePage says Canada’s average home price fell 0.8% to $810,000 in Q3, with Vancouver and the GTA down while Montreal, Ottawa and Winnipeg gained.
The five-year bond yield is 3.7 per cent, up from under one per cent in 2020, so Canadians renewing pandemic-era mortgages face higher payments, C.D. Howe said.
Ontario’s 2027 rent guideline is 1.9 per cent, B.C.’s is 2.2 and Manitoba’s is 3, while Nova Scotia’s cap stays at 5 per cent through 2027.
Canada’s annual housing starts pace rose 3% to 248,896 in September, CMHC says, but actual starts fell 11% from a year ago and sit far below the supply target.
Canadian home sales fell 2.3% in September as fixed mortgage rates rose, CREA said, and the group cut its 2026 forecast to a 5.2% drop from 2025 levels.
Canada’s building permits rose 8.8 per cent to $13.6 billion in August, led by multi-unit housing in Ontario, B.C. and Alberta, Statistics Canada said Oct. 14.
B.C. home sales fell about 9 per cent in September and Montreal-area sales dropped 11.6 per cent, but prices moved in opposite directions, board data show.
Housing Check, Metro Vancouver edition: September sales, benchmark prices by home type, listings, asking rents and the Bank of Canada’s next rate date.