John Gaio's blog

The Toronto housing market closed out summer 2024 with stable property prices and healthy inventory levels, setting the groundwork for favourable market conditions heading into the fall, according to the latest market report from the Toronto Regional Real Estate Board (TRREB). With the overnight lending rate down 75 basis points over the last four months, market activity in the Greater Toronto Area (GTA) is expected to gain momentum in the weeks and months ahead as buyers move to take advantage of cheaper borrowing costs.

“The Bank of Canada’s rate cut announced on September 4 will lead to...

Homeowners who have experienced major flooding know how stressful this ordeal can be. From evacuating the property, to managing the work, to the insurance claims process, such an incident can be emotionally draining, and result in huge material or financial losses. Whether it’s due to torrential rains – which affected many parts of Quebec and Ontario this summer – or annual spring flooding, it’s crucial to act quickly to minimize damage.

Here’s a five-step guide to leaving nothing to chance.

Prepare yourself before the unexpected happens: make an action plan

Planning is always your...

Buying your first home is surely a major milestone, which can be full of excitement, but also some anxiety. From mortgages and down payments, to government programs and house hunting, there’s a lot to take in.

Luckily, it’s easy to understand how to buy your first home with the right tools and expertise. The first step on the journey is to make sure you’re financially ready to purchase your first home.

When buying a home, everything comes down to your wallet. Your monthly income, debts, and credit score will determine the size of the mortgage you qualify for, which will decide what kind of...

While young homebuyer hopefuls in Canada are facing more financial obstacles today – including higher home prices, interest rates and cost of living than their parents – many continue to aspire to own real estate one day. Despite chronic housing affordability and supply challenges, Canada’s next generation¹ of buyers believes that owning a home of their own remains advantageous as a long-term investment.

According to a recent Royal LePage® survey, conducted by Hill & Knowlton,² 84% of Canadians belonging to the adult generation Z and young millennial cohort – those aged 18 to 38 or born...

After showing signs of life in June following the Bank of Canada’s first interest rate cut in more than four years, Canada’s housing market took a bit of a breather last month, according to the latest housing report from the Canadian Real Estate Association (CREA). 

In July 2024, home sales across Canadian MLS^® Systems decreased 0.7% compared to the previous month. This slight decline reversed some of the momentum gained in June following the central bank’s rate cut announcement. 

Activity across major cities saw minimal changes, with the exception of Calgary and the Greater Toronto Area,...

Curb appeal encompasses the attractiveness, charm, and overall visual impact of a property’s exterior. It can include landscaping, architectural features, cleanliness, maintenance, and exterior design elements, all of which contribute to the initial impression potential buyers or visitors have of the home.

A change of the season often brings a change in décor, maintenance and care for your outdoor space. Whether you’re preparing to sell your house, or simply take pride in a well-kept home, there are many simple solutions to make your home’s exterior sparkle this summer.

Here are five ways...

First-time buyers of new construction homes in Canada will now be able to access longer mortgage amortization periods. 

As of August 1st, 2024, lenders will be allowed to offer 30-year amortizations for insured mortgages to first-time homebuyers of new construction homes, a measure modified by  the federal government. Previously, the maximum amortization for an insured mortgage — a mortgage that has a down payment less than 20% and therefore requires mortgage insurance — was 25 years. Homes priced at and over $1 million automatically require a 20% downpayment and an uninsured mortgage...

For the second time in a row, Canada’s central bank has cut its overnight lending rate. 

In its pre-scheduled July 2024 announcement, the Bank of Canada dropped the target for the overnight lending rate by 25 basis points to 4.50%. 

While inflation remains above the Bank’s 2% target, it is expected that inflation will continue to ease as the global economy expands into 2026, bolstering the Bank’s decision to continue lowering rates. 

In his opening remarks to reporters at a press conference following the announcement, Tiff Macklem, Governor of the Bank of Canada, cited that the risk that...

Don’t let a small outdoor space cramp your style – there are plenty of ways to create a usable, yet charming, oasis in even the smallest of outdoor spaces.

Apartment living has become the norm in many urban cities. This has opened up a new opportunity for retailers to capitalize on the need for practical solutions for small outdoor spaces. This is great news for anyone looking for compact patio furniture, as there are now plenty of options to choose from that go beyond the classic bistro set.

We’ve put together a list of our five favourite essential considerations to help you transform...

Despite a strong first quarter for sales, Canada’s spring housing market was muted in many regions across the country in Q2 of 2024. Although the first cut to the overnight lending rate by the Bank of Canada in June generated much buzz among Canadians, the long-awaited drop did not translate into a noticeable return of homebuyers to the market. This hesitant approach from purchasers contrasts against rising inventory levels, which has resulted in more balanced market conditions as of late. 

Royal LePage^® is forecasting that the aggregate¹ price of a home in Canada will increase 9.0% in the...