Nilufer  Mama

Nilufer Mama

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Forest Hill Real Estate Inc., Brokerage*

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Nilufer Mama's blog

Canada plans to double homebuilding in a decade

 

Canada has a plan to double the pace of homebuilding within a decade, but the first big challenge is finding enough skilled workers. Building more homes is a key peg of the $9.5B in housing spending outlined in the government's recent budget for April 2022. 

Happy Victoria Day

 

Wishing everyone a very Happy and safe Victoria Day

Here's What Toronto Homebuyers Could Expect In The Next 5 Years With The Housing Market - [Video]

Here's what Toronto Homebuyer's could expect in the next 5 years with the Housing Market

According to an analysis from local housing professionals, one of the biggest factors in property prices seeing an increase is more people moving to Toronto. It's suspected that the recent partnership between the Liberal Party and the NDP will have some positive effects on the market in the next five years. 

Those effects are said to come from the new policies introduced by this partnership that would prioritize the following motions:

Average GTA Home Price Hovers at $1 3M - [Video]

Almost 11k GTA home sales were reported in March 2022, capping off the third-best March and second-best Q1 on record. Sales decreased YoY for all major market segments, but condo apartment transactions dipped much lesser. 

Tight market conditions supported double-digit annual price growth, with an average selling price of $1.3M. The MLS HPI Composite benchmark increased by 34.8% YoY in March 2022. 

Happy Easter

 

Wishing everyone celebrating a very Happy and Blessed Easter

Foreign Homebuyer Tax is increased across Ontario - [Video]

 

On March 30, 2022, non-resident homebuyers' tax increased by 20% in Ontario, as part of the government's action plan on housing. This should be working to increase supply and keep costs low for Ontario homebuyers, not foreign speculators looking to take advantage. 

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