Peel Program Supports Affordable Home Ownership

Most municipalities in Ontario have affordable housing programs. These programs tend to focus on rental housing in low income or developing neighbourhoods. Very few municipalities have programs that encourage residents to become home owners. One municipality, however, is a shining example of how local governments can work to help their constituents achieve their dreams of … Continued

Home prices to rise slightly in 2012-13

Canada Mortgage and Housing Corporation (CMHC) predicts that Canadian home prices will remain stable with a slight rise in the next two years. See CMHC’s press release here. Experts have been warning about an overheated real estate market driven by low mortgage rates and high demand in large urban centres such as Toronto. However, “with … Continued

CREA introduces a new Home Price Index

  The Canadian Real Estate Association (CREA) has launched a new system to measure home prices and home price growth – the MLS® Home Price Index (MLS® HPI). The idea of a Home Price Index is not new to Canada. The real estate boards of Fraser Valley and Greater Vancouver have been using an HPI … Continued

Ontario Legislative Assembly has resumed

The Ontario Legislative Assembly resumed parliamentary proceedings on Tuesday, February 21 after adjournment on December 23, 2011. The Legislature sat for only one month since the October 2011 election that produced a Liberal minority government with 53 Liberal MPPs. The Progressive Conservative Party gained additional 11 seats bringing its number to 37 members. The New … Continued

Government of Ontario to announce cuts

  Ontario Finance Minister Dwight Duncan has announced a number of steps the Government of Ontario will be taking in order to eliminate the province’s $16 billion deficit by 2017-18. First, the Minister plans to sell and redevelop the LCBO warehouse and head office, located on the waterfront land in Toronto, which would generate over … Continued

Ontario residential home sales edge up in December

Sales activity recorded through the MLS® Systems of Ontario real estate Boards and Associations rose 5.6 per cent from December 2010 to December 2011. Activity rose in more than half of all local markets, with monthly declines posted in most of the remaining markets. A total of 10,089 homes traded hands via Ontario MLS® Systems … Continued

Ontario home starts rise in 2011

Preliminary estimates of all area home starts across the province of Ontario grew to nearly 68,000 units in 2011, up 12 per cent from 2010, according to the Canadian Mortgage and Housing Corporation (CMHC). All of the increase last year came from a jump in construction for multi-family housing, which includes semi-detached, row and apartment … Continued

Ontario government’s property tax treatment of renewable energy projects

Ontario has made changes to the property tax assessment system for property owners who install renewable energy technologies.   The changes will create additional categories for property tax assessment based on the size and location of energy generation. The move is aimed at mitigating rising property assessments due to the installation of renewable energy sources. … Continued