Category: Uncategorized
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GTA Housing Market: Growing Demand-Supply Gap
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability.
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Mississauga affordable housing development going ahead and ‘ridiculous’ parking fee could be cut
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 article
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Peel Region Market update
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Home Inspection Checklist Every Buyer Needs!
Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early
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Fewer Applications: GTA Housing Supply at Risk
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
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Parliamentary Secretary Sousa highlights new federal property in Mississauga available for housing development
The Canadian government is addressing the housing crisis by launching an ambitious plan to build 4 million homes, as outlined in Budget 2024. The Canada Public Land Bank has been established to identify federal properties for housing development, with 70 properties now available, including one in Mississauga. The initiative aims to unlock public lands for…
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GTA New Home Sales Hit Historical Low in Mid-Q3
New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.
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GTA Housing Crisis: Urgent Need for Government Action
Housing stock lags behind population growth, the widest gap in 50 years. New home approvals in GTA take 20 months, increasing costs by $43,000-$90,000 per unit.
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Why Won’t Lower Rates Fix GTA’s Housing Crisis?
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.
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GTA Housing Stock Gap Hits 50-Year High
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.