The District of Parry Sound must build over 2,000 new housing units in the next decade to meet demand. The current supply is dominated by single-family homes (87%), with few apartments or multi-unit buildings, limiting rental and affordable options. Many existing homes are old, requiring costly repairs and upgrades. Rental availability is low, causing price volatility and limited choices, especially for families needing larger units.
Before closing, Ontario buyers need cash for deposit, land transfer tax, legal fees, and adjustments, not just mortgage payments and the down payment.
Ontario’s minimum down payment rises as a home’s price climbs, and smaller down payments can trigger mortgage insurance added into monthly payments.
Ontario buyers need land transfer tax paid in full at closing, and the deposit is only an upfront portion of the total down payment.
Ontario requires a Real Estate lawyer, often budgeted near ~$2K, and buyers should also expect closing adjustments for prepaid taxes, condo fees, or fuel.
Eligible first-time buyers may access provincial rebates, including a full HST rebate on new homes through Late-Q1 2027, and pre-approval can prevent financing surprises.
As Ontario's housing market slows, buyers and sellers are urged to verify electrical work is properly permitted and inspected to reduce shock or fire risks. Key steps include confirming Electrical Safety Authority permits, hiring licensed electrical contractors, understanding the home's electrical capacity, assessing major electrical systems, and considering a dedicated electrical inspection. These measures help ensure safety and avoid costly surprises.
Ontario is enhancing cooperation with municipalities, announcing new funding for housing infrastructure, recreation, primary care, ambulance, and public health services. A $1 billion Canada-Ontario program will support housing infrastructure in municipalities without development charges. Additional funds include $100 million for sports facilities, $250 million for primary care expansion, over $1 billion for land ambulance, and 1% growth for public health units.
Ontario is investing heavily in municipal infrastructure, housing, health, and recreation. Key initiatives include a $1 billion fund to help municipalities without development charges build housing infrastructure, a $100 million intake for community sport and recreation facilities, and a $250 million plan to expand primary care teams connecting 600,000 more people to family doctors. Over $1 billion is allocated for land ambulance funding, with ongoing support for public health units. The Rural Ontario Development Program also continues to support rural growth.
Canada’s recent affordability gains look fragile as new home construction slows, especially ownership housing, raising concerns that supply will not keep pace with future demand.
New estimates show Canada needs 417K to 469K housing starts annually to restore affordability to pre-pandemic levels by 2036, leaving the supply gap broadly unchanged.
Across Canada’s major markets, most new supply now comes from rentals, while ownership-oriented starts have weakened considerably, even as added rentals bring more balanced conditions.
Slower population growth has helped affordability improve, but construction slowed faster than demand, signaling a softer market could still leave Canada short when demand rebounds.
The key takeaway: protecting affordability means keeping ownership construction moving now, so Canada avoids a deeper home supply shortfall when market demand strengthens again.
National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.
CMHC expects housing conditions to improve gradually in 2027 as incomes and economic growth strengthen.
Sales should recover, but CMHC expects activity to remain below the typical levels seen during the previous decade.
CREA forecasts only modest national price growth, suggesting stabilization rather than another major price surge.
Higher inventory and weaker demand in some markets could continue giving buyers more negotiating room.
July brought some interesting dynamics to Northumberland County’s real estate landscape. While home sales dipped by 5.3%, with 144 properties changing hands, the average sale price climbed to $721,450—an increase of 6.5%. Year-over-year, we’re seeing a modest rise in overall sales, and prices have adjusted slightly, but inventory remains strong. Most homes are finding new owners within 29 to 60 days. After more than three decades guiding clients through evolving markets, I know these shifts can prompt questions and second-guessing. My priority is to help buyers and sellers navigate these changes with clarity and confidence, drawing on experience, in-depth local knowledge, and a commitment to supporting your goals at every step.
Η προσιτότητα της στέγασης αποτελεί κρίσιμο οικονομικό ζήτημα, ωστόσο ο Καναδάς, και ειδικά το Οντάριο, παραμένει μακριά από την επίλυση της κρίσης. Οι τιμές των κατοικιών ξεπερνούν πλέον επτά φορές το ετήσιο εισόδημα σε πολλές αγορές, καθιστώντας την ιδιοκτησία απρόσιτη για πολλούς. Η αύξηση φόρων, τελών και ρυθμιστικών εμποδίων αυξάνει σημαντικά το κόστος, με τα τέλη ανάπτυξης να προσθέτουν δεκάδες χιλιάδες δολάρια στις τιμές. Βασικές μεταρρυθμίσεις περιλαμβάνουν τη μόνιμη μείωση φόρων και τελών, την απλοποίηση των εγκρίσεων, την ανανέωση των οικοδομικών κωδίκων, την αναθεώρηση παρωχημένων πολιτικών και την κατάργηση του φόρου μεταβίβασης ακινήτων για βελτίωση της προσιτότητας και της προσφοράς.
