Raising the insured mortgage cap to $1.5 million may increase market activity, especially in the Greater Toronto Area. Around 20% of homes fall within the new range, with the GTA’s median home price at $1.2 million.Read more
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Mississauga is exploring plans to increase housing by allowing smaller homes and more semi-detached homes. Recent changes to city bylaws permit additional residential units like garden suites and fourplexes. The city aims to update zoning to facilitate more semi-detached homes in areas currently limited to detached homes and to adjust lot requirements for smaller detachedRead more
An affordable housing development in Mississauga has been approved despite opposition from residents. Indwell Community Homes plans to build a four-storey, 51-unit apartment building at 1639 Lakeshore Rd. W, with commercial space on the ground floor. The project, funded by the Canada Mortgage and Housing Corporation and Peel Region, aims to open in 2025. ConcernsRead more
Over 32,000 households in Mississauga, Brampton, and Caledon face wait times of up to 20 years for affordable housing, according to a report from the Region of Peel. More than 8% of residents live in poverty, with a significant increase in demand for social services and food assistance. The region is urging the province toRead more
Double-digit condominium inventory growth in Toronto reflects increased seller participation as buyers anticipate future rate cuts.Average condominium prices in Greater Toronto fell by 2% compared to the previous year, reaching ~$733KRead more
The GTA's housing supply could deteriorate in the coming years due to declining development applications. Population growth continues to outpace new housing, worsening the existing supply shortage in the GTA.Read more
GTA home sales in September reached 4,996, slightly up from August but 8.5% higher than September last year. The increase in sales is driven by lower interest rates and affordable conditions, boosting homeownership demand.Read more
Co-operative housing in Canada, managed by member residents, offers affordable options for low- and moderate-income families. Mississauga is considering a new co-op at 1 Port St. E. as part of a larger development with affordable housing and commercial space. Although no new non-profit co-ops have been built in Mississauga since the mid-1990s, interest and fundingRead more
An affordable housing project in a Mississauga neighbourhood is progressing as city officials have agreed to reduce the development's parking requirements by over 50%. Continue to full articleRead more
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.Read more
