Set in one of Toronto’s most storied neighbourhoods are forty-eight private residences shaped by timeless architecture and quiet intent. Every detail — perfected. Every service — seamless. Every innovation — anticipated. Privacy isn’t promised. It’s presumed. Security isn’t featured. It’s foundational.
Here the rarest thing of all becomes possible: time, uninterrupted. This is the allure of Forest Hill Village, where time — entirely and exquisitely yours — becomes the greatest luxury of all.
COMING TO FOREST HILL VILLAGE 429WALMER.CA
IT’S COMING AROUND
WAYNE KARL EDITOR-IN-CHIEF Condo Life Magazine
EMAIL: wayne.karl@nexthome.ca
TWITTER: @WayneKarl
No one could blame prospective new condo buyers from feeling a little apprehensive these days. To be sure, pre-construction opportunities are available, but low housing starts and paused projects create and air of uncertainty.
Some, in fact, worry that the current state of the market echoes what we saw in the 1980s and 1990s.
“We have been here before,” Dave Wilkes, president and CEO of the Building Industry and Land Development Association (BILD), writes in his Industry Report on page 34. “The 1990s downturn left a lasting mark on our economy, with lost jobs in the construction and skilled trades sector, widespread financial strain on Canadians and a prolonged recovery.”
Not this time, however, at least according to recent research from Canada Mortgage and Housing Corp. (CMHC). “We find several major differences,” CMHC says in a report on Sept. 14. “These include a more diverse and stable economy, stricter lending rules that have discouraged speculative building and an underlying shortage of homes based on demographics.”
One key difference is that the condominium downturn in the 1990s unfolded during a severe recession, CMHC says. And while there is economic uncertainty brought on by trade tensions with the U.S., overall employment remains stable.
Indeed, the unemployment rate remained unchanged in September, at 7.1 per cent. Another important signpost, inflation, also remains largely unchanged, barely rising to 1.90 per cent in August 2025 from 1.70 percent in July.
After a period of adjustment, growth will return, CMHC says. “Looking ahead, we anticipate a more balanced market. Combined with current pentup demand and expected economic growth over the next few years, this could amplify concerns about a lack of housing supply.”
Or, as Ben Myers summarizes in his Stat Chat column on page 14, “The (GTA) housing market in late 2025 is offering opportunities for buyers willing to take measured risks. After years of explosive growth, the market has entered a correction phase. Some of the long-standing drivers of price appreciation have reversed: Population growth has slowed, sales have stalled and even the rental market has cooled. Yet beneath these short-term adjustments, the same fundamentals remain: Limited land, strong long-term demand and a diverse population that still needs housing. For many, today’s lull may represent a brief pause before the next climb.”
In other words – an opportunity.
HOME DESIGN | MARIAM ABOUTAAM
An award-winning interior designer, Mariam Aboutaam is Director, Sales and Marketing, Interior Design at Kylemore, Markham, Ont., a builder known for master-planned communities and luxury homes. kylemoreliving.com.
PERSONAL FINANCE | JESSE ABRAMS
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com
TRREB REPORT | ELECHIA BARRY-SPROULE
Elechia Barry-Sproule is President of the Toronto Regional Real Estate Board (TRREB) and Broker/Owner of Red Apple Real Estate Inc. She is committed to mentoring and supporting real estate professionals across the industry. trreb.ca.
WESTERN VIEW | MIKE COLLINS-WILLIAMS
Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.
HOME REALTY | DEBBIE COSIC
Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca
REAL ESTATE PRO | BARBARA LAWLOR
Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com
DECOR | LINDA MAZUR
Linda Mazur is an award-winning, nationally publicized designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup
STAT CHAT | BEN MYERS
Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.
BILD REPORT | DAVE WILKES
Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca
Mariam Aboutaam, Jesse Abrams, Elechia Barry-Sproule, Mike Collins-Williams, Debbie Cosic, Barbara Lawlor, Linda Mazur, Ben Myers, Dave Wilkes
EXECUTIVE MEDIA CONSULTANTS
Jacky Hill, Michael Rosset
VICE-PRESIDENT, MARKETING – GTA
Leanne Speers
MANAGER CUSTOMER SALES/SERVICE
Marilyn Watling
SALES & MARKETING CO-ORDINATOR
Gary Chilvers
BUSINESS DEVELOPMENT MANAGER
Josh Rosset
DISTRIBUTION distributionteam@nexthome.ca
ACCOUNTING INQUIRIES
accountingteam@nexthome.ca
DIRECTOR OF PRINT MEDIA
Lauren Reid–Sachs
VICE-PRESIDENT, PRODUCTION – GTA Lisa Kelly
PRODUCTION MANAGER – GTA Yvonne Poon
GRAPHIC DESIGNER & PRE-PRESS COORDINATOR
Hannah Yarkony
Published by nexthome.ca
Advertising Call 1.866.532.2588 ext. 1 for rates and information. Fax: 1.888.861.5038
Circulation Highly targeted, free distribution network aimed at real estate buyers using street level boxes, racking and Toronto Star in-home delivery.
Canadian subscriptions 1 year = 13 issues – $70 (inc. HST). Canada Post – Canadian Publications Mail Sales Product Agreement 40065416.
Copyright 2025 All rights reserved. All copyright and other intellectual property rights in the contents hereof are the property of NextHome, and not that of the individual client. The customer has purchased the right of reproduction in NextHome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of NextHome.
Editorial Submissions from interested parties will be considered. Please submit to the editor at editorial@nexthome.ca.
Terms and Indemnification
Advertisers and contributors: NextHome is not responsible for typographical errors, mistakes, or misprints. By approving your content and/ or submitting content for circulation, advertisers and contributors agree to indemnify and hold harmless NextHome and its parent company from any claims, liabilities, losses, and expenses (including legal fees) arising out of or in connection with the content provided, including but not limited to any claims of copyright infringement, unauthorized reproduction, or inaccuracies in the content. Advertisers acknowledge that they have the necessary rights, permissions, and licenses to provide the content for circulation, and they bear full responsibility for the content’s accuracy, legality, and compliance with applicable laws upon approval. Contributors acknowledge NextHome reserves the right to omit and modify their submissions at the publisher’s discretion.
FIRST-TIMERS CAUTIOUS AS MARKETS PRIMED FOR BUYERS
Declining interest rates, higher inventory levels and softening home prices in major cities are opening new doors for first-time buyers in 2025. Still, despite increasingly favourable market conditions, many are carefully planning and possibly delaying their new-home purchases, according to a recent survey from Royal LePage.
The survey, conducted by Burson, indicates 13 per cent of Canadian adults say they are actively working towards the purchase of their first residential property within the next two years. Of this group, a small proportion say they are working towards their first purchase within the next 12 months, while the majority (82 per cent) say they are planning to make a purchase in 12 to 24 months.
“Interest rates are trending lower and prices have stabilized or even softened in some markets, creating favourable conditions for longawaited entry into home ownership, especially in costly cities like Toronto and Vancouver. Yet, hesitation remains,” says Phil Soper, president and CEO, Royal LePage. “For some, ongoing economic uncertainty, particularly surrounding trade relations with the United States, is prompting them to hold off until there are signs of stability.
“Others are choosing to wait in hopes of securing a better deal. With the potential for further rate cuts from the Bank of Canada this year, those in no rush to purchase now are taking a methodical approach –building up their savings and deliberately planning their entry into the market when they feel the timing is best for them.”
Thirty-six per cent of Royal LePage real estate professionals report an increase in first-time buyer activity so far this year, while 25 per cent report no change. This, despite home prices holding relatively steady, a trend that would typically encourage new buyers to enter the market.
While many buyers continue to rely on help from family to make their first home purchase, most do not. When asked if they would receive any financial assistance towards the purchase of their first residential property, more than half (51 per cent) said they would not receive any help. Meanwhile, 41 per cent of first-time buyers said they would.
In order to afford their first home, 60 per cent of first-time buyers say they are searching for homes in a more affordable area, 40 per cent are searching for homes that are smaller and therefore more affordable than they originally planned, 39 per cent are cutting back on discretionary spending in order to save money, and 28 per cent have or will use money from investments or retirement savings in order to fund their first home purchase.
More than half (53 per cent) of first-time buyers plan to make a down payment of at least 20 per cent when purchasing a home, while 39 per cent intend to buy with a down payment of less than 20 per cent and obtain mortgage insurance.
Despite the higher price tag, many first-time buyers continue to
aspire to own a detached property as their entry into the market. Nearly half (49 per cent) of respondents plan to purchase a single-family detached property as their first home, followed by 26 per cent who intend to buy a condominium, according to the survey.
When asked about the typical budget range for first-time homebuyers in their market, 55 per cent of Royal LePage professionals said it was between $500,000 and $750,000, followed by 19 per cent who said it was between $300,000 and $500,000. In the second quarter of 2025, the national median price of a single-family detached home increased 1.1 per cent year-over-year to $870,200, while the median price of a condominium decreased 0.8 per cent to $592,000.
ONTARIO MARKET HIGHLIGHTS
In Ontario, 15 per cent of survey respondents say they are actively working towards the purchase of their first residential property within the next two years (three per cent plan to buy within the next 12 months, while 12 per cent plan to buy in 12 to 24 months).
“First-time buyers who were once priced out of the market are beginning to re-emerge, encouraged by softening home prices and lower mortgage rates,” says Tom Storey, sales representative and head of The Storey Team, Royal LePage Signature Realty in Toronto. “Still, affordability remains a major challenge.”
When asked what the typical budget range is for first-time homebuyers in their market, 73 per cent of Royal LePage professionals in Ontario said it was between $500,000 and $750,000. Fifty-four per cent of first-time buyers plan to purchase a home with a down payment of at least 20 per cent.
GTA MARKET SEES BOOST IN SEPTEMBER FOLLOWING INTEREST RATE CUT
September home sales increased in the Greater Toronto Area (GTA) compared to a year earlier, as more homebuyers sought to take advantage of more affordable monthly mortgage payments. Buyers continued to respond to substantial choice in the marketplace by negotiating the average selling price downward.
“The Bank of Canada’s September interest rate cut was welcome news for homebuyers,” says Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. “With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs. Increased home purchases will also stimulate the economy through housing-related spin-off spending helping to offset the impact of ongoing trade challenges.”
GTA realtors reported 5,592 home sales through TRREB’s MLS System in September 2025 – up by 8.5 per cent compared to September 2024. New listings amounted to 19,260 – up by four per cent year-over-year.
On a seasonally adjusted basis, September home sales were up month-over-month compared to
August 2025. In contrast, new listings were down compared to August, suggesting that market conditions may have tightened slightly in some segments.
The MLS Home Price Index (MLS HPI) Composite benchmark was down by 5.5 per cent year-over-year in September 2025. The average selling price, at $1.06 million, was also down by 4.7 per cent compared to September 2024.
On a month-over-month seasonally adjusted basis, the MLS HPI Composite dipped by 0.5 per cent compared to August. The average selling price remained largely flat compared to August, edging up by 0.2 per cent.
“While home sales have improved over the past year, they still remain below normal levels relative to the number of households in the GTA,” says TRREB Chief Information Officer Jason Mercer. “Two more 25-basispoint interest rate cuts by the Bank of Canada would see monthly mortgage payments move more in line with homebuyers’ average incomes, further spurring home sales and related economic activity.”
“Housing industry stakeholders have, for the most part, worked
independently to reach our parallel goals, but momentum appears stalled,” adds TRREB CEO John DiMichele. “At a time when we are facing a collapse of new construction sales and starts, it’s time for us to come together as a unified voice, align our efforts and collectively work to break down the remaining barriers that impede progress in housing development. TRREB will approach our partners in a renewed effort to reignite momentum with industry leaders, policymakers, and stakeholders in the Greater Golden Horseshoe.”
GTA BUILDERS SHINE AT 2025 OHBA AWARDS OF DISTINCTION
The Ontario Home Builders’ Association (OHBA) has announced the winners of the 2025 OHBA Awards of Distinction (AoD), with builders in the GTA and surrounding area taking home several key awards. This annual awards program recognizes the creativity, innovation and excellence of builders, renovators, developers and service professionals within Ontario’s residential construction industry. Categories span seven groupings, including renovation, architectural design, room design, image and advertising, on-site sales presentation, and the coveted Prestige Awards.
For a complete list of winners, visit ohbaaod.ca.
BUILDER OF THE YEAR –LARGE VOLUME: TRIDEL
When market conditions shifted, Tridel pivoted to move-in-now campaigns and hard-hat tours of
nearly finished buildings, offering realtors and buyers firsthand insight into construction quality. A new free seminar series targeted audiences interested in downsizing, firsttime buying and investing. Locally, the company led the creation of Community Economic Development (CED) agreements alongside Toronto Community Housing –establishing models for community investment, workforce inclusion and business development within revitalization areas.
BUILDER OF THE YEAR –SMALL VOLUME: TERRA VIEW CUSTOM HOMES LTD.
Terra View has created comprehensive digital marketing campaigns that showcase both the vibrant community and natural beauty of their locations while educating buyers about Net Zero home benefits. The company leverages its local and national recognition portfolio strategically, including six consecutive GDHBA Green Builder of the Year awards and three Energy Star Canada Small-Size Builder of the Year Awards in the past five years.
Terra View actively supports its local – Grand Highlands Home Builders Association – through comprehensive engagement including event sponsorship, advocacy and volunteerism. Its achievements elevate the entire industry’s profile as one of the top five builders across Canada participating in the CHBA Net Zero Home Labelling Program.
2025 PRESTIGE AWARD
WINNERS ALSO INCLUDE:
• Project of the Year – Lowrise: Silvergate Homes for Prudhomme Landing
• Project of the Year – High- or Midrise: Brixen Developments Inc. for Exhale Residences
• OHBA People’s Choice: Silvergate Homes for Prudhomme Landing
ARCHITECTURAL DESIGN
• Production Built Home (One storey)
Stratton Homes Ltd. Glasshaus –Huntsville
• Production Built Home
(Two storeys up to 2,500 sq. ft.)
Terra View Custom Homes Ltd., The Mapleridge – Guelph (credit to: Terra View Custom Homes Ltd.)
• Production Built Home (Two storeys 2,501 sq. ft. and over)
Minto Communities, The Oasis –Ottawa
• Attached Multi-Unit Home
Geertsma Homes Ltd., Riverstone Subdivision, The Winsford –Belleville
• Stacked or Back-to-Back Townhome
National Homes, Northshore Towns, The North – Burlington (credit to: ADhoc Studio, esQape design inc., Kirkor Architects & Planners, McOuat Partnership)
• Midrise Building (4-10 storeys)
The Rose Corporation, The Bakerfield II – Newmarket
• Highrise Building (11-plus storeys)
CentreCourt Developments Inc., Pickering City Centre – Pickering (credit to: Figur3)
• High- or Midrise Condo Suite (Up to 800 sq. ft.)
CentreCourt Developments Inc., Pickering City Centre – Pickering (credit to: Figur3)
• High- or Midrise Condo Suite (801 sq. ft. and over)
Starward Homes (2014) Ltd., 153 Wilson West – Ancaster
• Lobby Entrance
Menkes Developments Ltd., Adagio –Toronto (credit to: Figure3, Giannone Petricone Associates Inc. Architects)
• Lowrise Green Building (1-3 storeys)
Doug Tarry Ltd., Eagle Ridge Northgate, Central Elgin
• High- or Midrise Green Building (4-plus storeys)
Tridel; Hines for Aqualuna at Bayside Toronto, Toronto
ROOM DESIGN
• New Home Kitchen (New Lowrise Home up to 2,500 sq. ft.)
Gordon Tobey Developments Ltd. for Hamilton Woods, Brighton
• New Home Kitchen (New Lowrise Home 2,501 sq. ft. and over)
Minto Communities, The Oasis – Ottawa (credit to: Laurysen Kitchens Ltd.)
• New Home Bathroom
Mountainview Homes (Niagara) Ltd., House on The Hill – Fonthill
HIGH- OR MIDRISE AMENITY
• National Homes; Brixen Developments Inc., DUO Condos –Brampton (credit to: ADhoc Studio, McOuat Partnership)
IMAGE & ADVERTISING
• Lowrise Project Video (1-3 storeys) Primont Homes, The Summit – The Blue Mountains
• High or Midrise Project Video (4-plus storeys)
Mattamy Homes Canada – Urban Division, BLVD Q – Etobicoke (credit to: Gladstone Media)
• Social Media Campaign
Equiton Developments, Maxium –Toronto (credit to: Community)
• Website – Corporate
Treasure Hill Home Corp., Treasure Hill – Concord (credit to: 52 Pick-up Inc.)
• Website – Project Specific Georgian Communities, Windfall at Blue – Town of Blue Mountains (credit to: McOuat Partnership)
• Lowrise Ad Campaign (1-3 storeys) Great Gulf, Five Creeks Estates –Orangeville (credit to: Montana
Steele Strategic Advertising, Pureblink, Qoo Studio Inc.)
• High- or Midrise Ad Campaign (4-plus storeys)
Equiton Developments, Maxium –Toronto (credit to: Community, kg&a)
• Lowrise Project Branding and Identity (1-3 storeys)
Silvergate Homes Ltd., Prudhomme's Landing – Vineland (credit to: McOuat Partnership)
• High- or Midrise Project Branding and Identity (4-plus storeys)
Pratt Homes, Elements
Condominium – Barrie
ON-SITE SALES PRESENTATION
• New Home Sales Office (Up to 1,500 sq. ft.)
Silvergate Homes Ltd., Prudhomme's Landing – Vineland (credit to: Artcraft Kitchens, Fisher & Paykel Appliances Canada Inc., McQuat Partnership, Silverline Group Inc.)
• New Home Sales Office (1,501 sq. ft. and over)
Amexon Development Corp., Missoni Sky – Toronto (credit to: Core Architects Inc., II By IV Design)
• Design/Decor Centre
Primont Homes, Primont Experience Centre – Richmond Hill (credit to: Estate Interiors, Jane Lockhart Interior Design)
• Model Home/Suite (Up to 2,500 sq. ft.)
Kylemore Communities & Angus Glen Developments, Angus Glen South Village by Kylemore –Markham
• Model Home/Suite (2,501 sq. ft. and over)
Treasure Hill Home Corp., Palmetto – Oshawa
• Lowrise Project Sales Brochure (1-3 storeys)
Treasure Hill Home Corp., Meadowlark – Bolton (credit to: 52 Pick-up Inc.)
• High- or Midrise Project Sales Brochure (4-plus storeys)
Rosehaven Homes for Rebecca Condos – Hamilton (credit to: Figur3)
PRESTIGE AWARDS
• Project of the Year – Lowrise Silvergate Homes Ltd., Prudhomme's Landing – Vineland (credit to: McQuat, Neezo, RN Design Ltd.)
• Project of the Year –High- or Midrise Brixen Developments Inc., Exhale Residences – Mississauga (credit to: Architecture Unfolded Inc., esQape design inc.)
• OHBA People's Choice Award Silvergate Homes Ltd., Prudhomme's Landing – Vineland (credit to: McQuat, Neezo, RN Design Ltd.)
• OHBA Service
Professional of the Year
My Design Studio – Woodbridge
• Ontario Builder of the Year –Small Volume
Terra View Custom Homes Ltd. –Guelph
• Ontario Builder of the Year –Large Volume
Tridel – North York
GTA HOUSING DYNAMICS: A CYCLE ABOUT TO TURN?
The Greater Toronto Area housing market in late 2025 is offering opportunities for buyers willing to take measured risks. After years of explosive growth, the market has entered a correction phase. Some of the long-standing drivers of price appreciation have reversed: Population growth has slowed, sales have stalled and even the rental market has cooled. Yet beneath these short-term adjustments, the same fundamentals remain: Limited land, strong long-term demand and a diverse population that still needs housing. For many, today’s lull may represent a brief pause before the next climb.
For the first time in years, Ontario’s population contracted in the second quarter of 2025, marking a rare pause after a decade of record immigration. The province had been adding roughly 185,000 people annually since the mid-2000s, but the economic slowdown and tighter immigration policies have softened that pace. At the same time, the unemployment rate has risen to 7.8 per cent, compared with a multi-decade low of 5.0 per cent in early 2023.
For homebuyers, these shifts have created a short-lived breather. Fewer new households mean slightly less competition for both rentals and ownership housing. However, because the GTA’s housing shortage stems from years of underbuilding, these temporary headwinds are unlikely to alter the longterm imbalance between supply and demand.
The rental market, which saw years of rapid rent increases, is finally catching its breath. More than 200,000 condominium apartments across the region are now rented by individual owners, four times as many as in 2009. Developers have also added thousands of purposebuilt rental units, leading to a brief period of oversupply in some neighbourhoods. Rents have edged down on a monthly basis, largely due to smaller average unit sizes and reduced parking availability in new buildings.
Vacancy rates, which had hovered near record lows, have begun to rise. Average rents in new rental buildings are down about five per cent year-over-year, and condo rents have dipped by roughly one per cent after climbing more than 25 per cent between 2021 and 2023. The slowdown is most visible downtown, where smaller suites are leasing more
BEN MYERS
slowly, while areas such as North York, Etobicoke and Scarborough remain relatively stable.
For renters considering ownership, this softening offers a narrow window of opportunity: Rents may not fall much further, but for now, they’ve stopped climbing.
Episode 92 of the Toronto Under Construction podcast provides an inside look at how developers and investors are navigating this reset. Guest speakers Geoff Matthews (senior vice-president, Capital Development) and Kathy Black (vice-president of development, Fiera Real Estate) explained that while short-term challenges are real, most seasoned players remain focused on the long term.
Black described how her firm continues to prepare large mixeduse projects for the next cycle, even if construction is years away. She noted that patient capital is key since income-generating properties allow developers to wait for the right combination of policy, demand and financing conditions. That perspective should reassure buyers that, despite today’s uncertainty, confidence in the GTA’s fundamentals remains high.
Matthews echoed that sentiment but noted that every project now gets tested as both a condo and rental opportunity. While condos can appear profitable on paper, high borrowing costs and slower absorption often tilt the balance toward rental. Developers are adapting by prioritising flexibility, phasing construction and reducing reliance on pre-sales.
The conversation also highlighted the complexity of the development process. Black explained that securing zoning and approvals is a timeconsuming and high-risk effort that adds genuine value to the market. Rather than waiting for prices to rise, many firms are working to advance sites through planning, so they are ready when economic conditions improve. This is a reminder that the groundwork for tomorrow’s housing
is often laid in the quiet periods between cycles.
Both guests expressed frustration with municipal processes and the gap between development charges collected and infrastructure delivered. Matthews called for greater transparency, while Black contrasted Toronto’s lengthy approvals with more collaborative cities such as Vancouver and Calgary, where purpose-built rentals can move from application to approval in months rather than years.
For buyers, these insights underline a critical truth: Even though projects may take time to reach market, developers continue to invest heavily in future supply. Today’s slowdown does not mean the industry has stopped; it means it is recalibrating.
Pre-construction sales have fallen to their lowest levels in decades. Developers sold nearly 30,000 units in 2021 but fewer than 5,000 last year, and activity is expected to remain subdued through 2026. Despite this, pricing has held remarkably firm. After a 30-percent jump between 2019 and 2022, average condo prices have eased only about four per cent since then.
The reason is simple: It remains difficult to build at lower costs.
Construction expenses are still high, financing remains expensive and resale prices sit well below replacement value. Buyers shopping for new homes today may find modest incentives or upgrades but not deep discounts.
The GTA housing market is experiencing a rare reset. Over the next one to two years, affordability may improve slightly as developers compete for fewer buyers and rental growth stabilises. But this calm period is temporary. With construction starts falling sharply and demand expected to recover later in the decade, the region could face another shortage by the late 2020s.
For homebuyers, that means today’s stability may be an
“ ” For buyers, these insights underline a critical truth: Even though projects may take time to reach market, developers continue to invest heavily in future supply. Today’s slowdown does not mean the industry has stopped; it means it is recalibrating.
opportunity to plan ahead, whether buying a first home, upgrading or investing for the long term. Developers and capital partners remain confident that Toronto’s fundamentals (limited land, population growth and global appeal) will keep the region’s housing market strong in the years ahead.
The GTA housing market has paused, not collapsed. Do your own research, surround yourself with an experienced team, and buy what you can afford. Good luck.
Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.
+MORE CONTENT ONLINE nexthome.ca
BUILDER PROFILE
Downtown Markham – a transformative master-planned community
Downtown Markham isn’t just a development; it’s an unfolding story. This transformative project of epic scale not only reimagines what it means to live in a modern city, but is reshaping how other builders envision their own communities, serving as the defining model of how a modern city can look, feel and function.
HOMEBUYING
Canadians feeling optimistic about buying a home this fall
Following a period characterized by consumer uncertainty and a pull-back of buyers during the first quarter of 2025, the Canadian housing market may be turning a new leaf this fall. According to ReMax Canada’s 2025 Fall Housing Market Update, improved affordability and a boost in inventory levels could entice cautious buyers back into action.
INSIGHT
Build Canada Homes a great start
As we and many of our columnists and industry experts have written many times in recent months – in fact, quite literally, years – the homebuilding industry in Toronto, the GTA, throughout Ontario and indeed Canada needs more and better government involvement. Build Canada Homes is a great start.
ANALYSIS
How homeowners can unlock thousands in interest-free loans and rebates Ontario homeowners looking to improve their homes and cut energy costs have two government-funded opportunities to save money and finance home improvements such as new doors and windows. These programs offer financial support for making homes more energyefficient, helping homeowners reduce monthly bills while contributing to Canada’s climate goals.
HOME DESIGN
Space planning: Making every square foot count
A beautiful home starts with smart space planning. Beyond finishes and square footage, it’s how each room functions and adapts gracefully to the needs of tomorrow, that determines how well it supports everyday life.
Visit nexthome.ca
BARBARA LAWLOR
A LIGHT AT THE END OF THE TUNNEL
Could it be that we are experiencing major government help for our preconstruction housing industry? I have said repeatedly that we need creative thinking and cooperation among the private and public sectors to solve our current crisis. On Sept. 14, the Canadian Government launched the Build Canada Homes Agency to work toward building affordable housing at scale and at speed. This highlevel initiative involves the agency partnering with provinces, territories, municipalities and Indigenous communities, as well as builders and developers and overseeing steps to streamline the housing process.
Among the advantages of this agency are goals such as lowering rents and home prices, the faster delivery of houses, new jobs, stronger regional economies, a housing supply that better reflects the diverse needs of Canadians and long-term investment in housing development. If all of these occur, it will be like utopia for both builders and the homebuying public. For far too long, potential house and condominium purchasers have waited on the sidelines to take this major life step.
The agency’s initial $13 billion will go to using public lands for lead developments. There are six sites prioritized to receive 4,000 factorybuilt homes on federal lands, and thankfully, Toronto is among them. Some of the funds will go toward financial incentives for builders to construct affordable homes by reducing upfront costs. For several years, builders and developers have been asking government to do
something about reducing those costs, especially development charges. Many municipalities have already reduced and even eliminated them in some cases, which is only fair. We need new infrastructure, but these charges, which are passed on to the new home purchasers, often go to items not related to housing in any way. New homes and condos cost enough without adding unnecessary bureaucratic red tape to the equation.
As great as the new federal agency sounds, what would help immediately is offering GST elimination and reduction to all new-home buyers, not just first-time purchasers. If there has ever been a time when a tax break is needed to spur sales of all new homes and condos, it is now. Let us hope the government is listening on that front as well.
It is well known that housing in Canada is critical to our economic, psychological, social and emotional wellbeing. It is also wonderful to see action being taken to counter the supply/affordability crisis we
are experiencing. We need to instill confidence again, and the new federal agency is one step in that direction. The agency calls for teamwork on an unprecedented level. Let’s hope the goals of Build Canada Homes Agency come true and that everyone keeps an open mind to work together toward a common goal. As the future unfolds and we see new homes being built, I look forward to learning more details about the initiative. We are excited to welcome potential purchasers back into our sales offices and match them with the perfect new homes.
Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com
The Winston by Insoho Developments
HOW TO GET THE BEST MORTGAGE
WHEN IT’S TIME TO RENEW
JESSE ABRAMS
Over the next two years, millions of Canadians will reach mortgage renewal. Unlike past renewal cycles, this one comes at a time when interest rates are still elevated compared to historic lows. For homeowners who locked in fiveyear terms during the ultra-cheap borrowing era of 2020 and 2021, the jump in payments may feel like a shock. But with preparation, the renewal process can also be a
valuable opportunity to save money and secure a mortgage that better suits your needs today.
WHY RENEWALS MATTER MORE THAN EVER
Renewals are always important, but the stakes are especially high in 2025 and 2026. Industry analysis shows that the majority of renewals will lead to higher monthly payments, in some cases by 15 to 20 per cent. On a typical Canadian mortgage, that can translate to hundreds of dollars more each month.
At the same time, the Bank of Canada is widely expected to
begin cutting rates gradually. That means there may be opportunities for borrowers who shop carefully, but it also means the timing of your renewal and the product you choose will matter more than ever.
“ ” One of the most common mistakes homeowners make is waiting until their renewal notice arrives.
START EARLY AND KNOW YOUR OPTIONS
One of the most common mistakes homeowners make is waiting until their renewal notice arrives. By then, your options are limited and you may feel pressured to accept whatever is offered. The smarter move is to start the process four to six months before your term ends. This gives you time to compare offers from multiple lenders, negotiate with your current provider, and even lock in a rate ahead of time.
Shopping early can also give you peace of mind. If rates rise while you’re waiting, you’ve already protected yourself with a rate hold. If they fall, you can always adjust and secure a better deal.
DON’T JUST ACCEPT YOUR LENDER’S FIRST OFFER
Your lender wants to keep your business, but their first offer
may not be their best. Many homeowners simply sign and send it back without question. Doing so can cost you thousands over the life of your mortgage. Instead, compare your options and use them as leverage. Whether you stay with your lender or switch to a new one, knowing what’s available will put you in a stronger negotiating position.
“
” Switching from monthly to biweekly payments may shorten your overall mortgage and save money long term.
CONSIDER THE RIGHT MORTGAGE STRUCTURE
Renewal is a good time to think about more than just the interest rate. Your lifestyle, financial goals and risk tolerance should guide your decision.
• A fixed rate gives you stability and predictability, which may be valuable if your budget is tight.
• A variable rate could save money if rates decline in the coming years, though it comes with more risk.
• A shorter term might allow you to renew again sooner if rates are expected to fall further.
• Blended or split mortgages let you combine fixed and variable portions to balance security with flexibility.
Beyond rate and term, think about amortization and payment frequency. Extending your
amortization may reduce monthly costs, but it increases interest over time. Switching from monthly to biweekly payments may shorten your overall mortgage and save money long term.
NEGOTIATE EVERYTHING YOU CAN
It’s not just about the rate. Ask about waiving appraisal fees, reducing legal costs or improving prepayment privileges. Lenders are competing for your business, and small concessions can add up. Working with a broker can help uncover offers you may not access directly.
THE BOTTOM LINE
Mortgage renewal is more than just a piece of paperwork, it’s a chance to take control of your financial future. With rates higher than many homeowners are used to, the impact of your renewal could be significant. By starting early, comparing options and thinking strategically about the right structure, you can turn a moment of potential stress into an opportunity to save money and align your mortgage with your goals. Our team at Homewise has seen many clients push back on shopping around at renewal, and that could lead to thousands of dollars in missed savings. Just remember, 15 minutes can save you thousands.
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com
+MORE CONTENT ONLINE nexthome.ca
TIMELESS. BY DESIGN.
AT 429 WALMER BY STAFFORD HOMES
Set in one of Toronto’s most storied neighbourhoods are 48 private residences shaped by timeless architecture and quiet intent. Every detail – perfected. Every service – seamless. Every innovation –anticipated.
This is the allure of Forest Hill Village. Where life slows, moments stretch and where time – entirely and exquisitely yours – becomes the greatest luxury of all.
Welcome to 429 Walmer, an 18-storey condominium in two- and three-bedroom layouts and beyond, offering an unprecedented standard of luxury in Forest Hill Village.
Forest Hill Village was the only place 429 Walmer could exist. Its streets, lined with trees planted nearly a century ago, are defined by a canopy of elegance. Its main street reminiscent of how shopping used to feel. Here, architecture is protected. Beauty is enforced. It’s not a neighbourhood. It’s a state of mind.
What sets 429 Walmer apart? Besides the prized location, this intimate collection of just 48 private residences boasts suites with expansive layouts ranging from 2,100 to 8,500 sq. ft., each with direct, private elevator access, true 10-, 11- and 12-ft. ceiling heights without bulkheads, complemented by 10-ft.-deep private terraces.
Further defining features include a full range of services, from executive concierge to valet parking, private lower-level lobby and valet lounge,
and comprehensive, state-of-theart Avante security package.
Building amenities comprise 18,000 sq. ft. of curated wellness and social amenities, private indoor pickelball club, expansive spa-inspired and features and a comprehensive wellness club with state-of-the-art fitness facilities.
Indeed, 429 Walmer exudes luxury, a fluid form of sculpted glass, softened by rounded corners and layered terraces. Architect Arcadis has composed these elements with subtle textures and tones, creating a presence that feels both uncommon and instinctively at home on the Forest Hill skyline, a legacy destined to deepen with time.
It’s a study in subtlety: Extensive terracing, delicate greenery, natural light drawn deep into the interiors. This is a place for those who understand that true luxury is not about abundance – it is about absence. Absence of noise. Of excess. Of compromise.
Beyond the walls of these boutique residences, a hotel-like outdoor amenity provides a refined retreat: A setting of elegant furnishings, curated plantings and thoughtful details that feel both effortless and intentional. At street level, a lush, layered landscape reflects the enduring character of Forest Hill, with mature trees, refined paving and seasonal colour that welcomes residents home and frames the architecture with grace.
Interior design firm U31 designs each residence with the
deliberateness of a tailored home, customized such that no two are quite alike. Contemporary lines soften into gentle curves, while palettes draw from Forest Hill’s storied limestone estates – calm, tactile, enduring.
Technology at 429 Walmer exists not to be seen, but to serve. Every element of safety, access and personalization is orchestrated through an intelligent partnership with Avante.
Residents can effortlessly manage their home and building experience via their personal app, from unlocking their suite, to monitoring guests, to triggering concierge or emergency services with a tap.
So much luxury to choose from, too many features to mention. But you deserve them all.
For more information or to request your invitation, visit stafford.ca.
HOW TECH IS QUIETLY REWRITING
THE FUTURE OF REAL ESTATE
DEBBIE COSIC
For decades, growth across the Greater Toronto Area followed a familiar pattern: Land availability, transit expansion and buyer demand dictated where we built next. But a new force is now shaping the suburban landscape, one that doesn’t pour concrete or lay track. It writes code.
Artificial Intelligence is rapidly becoming the invisible architect of the GTA’s next housing chapter. From early land evaluation to marketing and sales, AI is re-engineering how projects are conceived, priced and delivered. And while it’s not replacing the human touch, it’s absolutely redefining what “expertise” means in real estate.
Today, developers are using predictive analytics to pinpoint where future demand will cluster based on commute data, demographic trends and even climate-risk modeling. Algorithms can map how buyers migrate across regions long before the first “Coming Soon” sign hits the lawn. Builders can virtually test density, shadow impacts and traffic flows – compressing months of planning into days.
At In2ition Realty, we’re seeing how this data revolution is reshaping the way communities are sold, too. AI tools can model absorption scenarios, tailor pricing strategies and identify which features resonate
most with specific buyer segments. It’s not about chasing clicks, it’s about listening to what the data says people truly value: Lifestyle fit, efficiency and authenticity.
The “AI Suburb” won’t be some futuristic tech park, it will look a lot like the communities we already love, only built smarter. Homes designed with smart modeling that can predict and prevent maintenance issues before they happen. Neighbourhoods planned for actual human behaviour, not outdated assumptions. Marketing that feels personal because it is personal – informed by insight, not intrusion.
Yet technology alone doesn’t build trust. The future of real estate still belongs to those who combine human intuition with intelligent tools. The best builders, brokers
and marketers will be the ones who understand that AI is not replacing us, it’s amplifying us.
The GTA has always been a place of reinvention. The next reinvention is happening quietly, line by line of code. And if we embrace it wisely, the suburbs of tomorrow won’t just be smarter, they’ll be profoundly more human.
Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca
ALL GOVERNMENTS HAVE ROLE TO PLAY
IN ADDRESSING DEVELOPMENT CHARGES
MIKE COLLINS-WILLIAMS
While house prices may be stagnating, the housing crisis remains in full force: Ontario is facing a massive shortfall of homes and pentup demand, while at the same time, developers are unable to build new homes at a price homebuyers can afford amidst high construction costs, an uncertain regulatory environment and high taxes on development.
Municipalities have begun to pay close attention to their development charges, or DCs, which in many cities have grown exponentially over the past 15 years, and in some cases can make up a quarter of a new home’s purchase price. In recent months, both Hamilton and Burlington have taken steps to address escalating DCs.
Hamilton began its review of DCs in April, following the lead of Vaughan and Mississauga which reduced rates in the months prior. Over the summer, the City conducted a review of forecasted building starts, forecasted DC collections, financial impacts on municipal budgeting and engaged with stakeholders including the development industry. In August, the City of Hamilton approved a 20-per-cent reduction in DCs city-wide, applicable to all types of development, for two years from September 2025 to August 2027. This equates to DCs for a single-detached homes in Hamilton being reduced from $98,511 to $78,809.
Burlington took action as part of the 2024 DC Review, which saw long-
term projects removed, thus reducing the total amount of DCs that would need to be collected over the 10-year term of the DC by-law. Burlington began a new review in September, with Finance staff conducting an analysis for a reduction in DCs for a two-year period. The City will be discussing the results of the analysis at its October Pipeline to Permit Committee meeting.
All levels of government have a role to play in addressing the issue of high DCs. While municipalities are responsible for local service delivery, they are limited in their ability to raise revenue and rely primarily on property taxes and user fees such as water rates. The provincial and federal governments must play a larger role in funding housing enabling infrastructure. Through the recently passed Bill 17, the Ontario government has indicated it will explore the establishment of a new kind of municipal service corporation dedicated to water and wastewater.
This would enable municipalities to more efficiently build and maintain infrastructure more equitably by spreading costs across all users in the municipality.
All levels of government must work together with the development industry to create a tax environment that enables home builders to actually build housing at a cost that consumers can afford. Without action, the housing crisis will continue to escalate, jobs losses in the construction sector will get worse and more individuals and families will be prevented from accessing housing that meets their needs.
Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.
+MORE CONTENT ONLINE nexthome.ca
THE POWER OF MINDFUL LEADERSHIP IN REAL ESTATE AND WHY IT AFFECTS YOU
Buying or selling a home can be exciting, but it can also be one of the most stressful experiences of your life. With so many moving parts, from finances to timing, people often look for steady guidance. This is where leadership in real estate makes all the difference. When realtors lead with mindfulness, meaning they stay present, manage stress and show empathy, clients feel more supported and communities become stronger.
LEADING WITH PRESENCE
On a recent episode of TRREB’s Ready to Real Estate podcast, TRREB’s Chief Information Officer Jason Mercer spoke with Dr. Ellen Choi, a leading mental health researcher and professor. She shared how presence helps leaders manage stress with calm, support their teams more effectively and provide better care to clients.
For buyers and sellers, that presence can be felt in every interaction. It might be the realtor who takes time to walk you through the fine print without rushing, or the one who listens carefully when you explain what matters most to you or your family.
TURNING AWARENESS INTO ACTION
Dr. Choi described mindfulness as understanding your emotions, regulating your responses and focusing on a greater purpose. In real estate, that translates into moments where clients feel seen and cared for. As she explained, “You can connect with a client in order to get the deal
done, or you can connect with a client and change their whole day.”
That kind of care can transform a stressful step in the homebuying or selling journey into a positive and even memorable experience.
THE RIPPLE EFFECT ON COMMUNITIES
The impact of mindful leadership extends beyond individual transactions. When realtors bring empathy and calm into their work, it builds trust not only between clients and professionals but also across neighbourhoods. People feel more confident in their decisions, more connected to their community, and more certain that the real estate process is fair and transparent.
Dr. Choi also noted that mindful leadership begins with self-care. Leaders who take the time to recharge and reflect set a tone that benefits everyone around them. Clients working with professionals who bring focus and patience to the table experience a steadier and
more supportive process, even in challenging markets.
CHOOSING INTENTION OVER REACTION
Mindful leadership is not about perfection. It is about presence. When realtors lead with awareness and compassion, they not only strengthen their businesses, they create better experiences for the people they serve and contribute to more resilient communities.
To hear more from Dr. Ellen Choi and to explore other conversations on market trends, tools, and leadership, listen to Ready to Real Estate at trreb.ca.
Elechia Barry-Sproule is President of the Toronto Regional Real Estate Board (TRREB) and Broker/Owner of Red Apple Real Estate Inc. She is committed to mentoring and supporting real estate professionals across the industry. trreb.ca.
ELECHIA BARRY-SPROULE
The timeless appeal of…
white kitchens
by LINDA MAZUR
Every where we look these days, we are seeing beautiful and colourful kitchens – rich deep blues, earthy greens, bold reds and vibrant pastels. So, with all the colourful kitchens we’ve been seeing of late, are we to assume that white kitchens are now a thing of the past? On the contrary. Though colourful kitchens are definitely on trend, the classic white kitchen is still holding its own. The bright, fresh look and feel of white kitchen cabinetry never really loses its appeal and for many is the goal for their kitchen renovation. However, just as appealing as a white kitchen can be, they can often be stark, cold and sometimes void of personality.
Kitchens are undoubtedly the heart of a home, and over the years have morphed from simple utilitarian spaces to rooms that are multifunctional living space reflecting both personal style and creativity. Boasting a more curated aesthetic with high-end finishes, custom designs and advanced technology our kitchens are not only stylish but comfortable. They are a reflection of our lifestyles and are central to our day-to-day life while having the flexibility to be an upscale extension of our living spaces for entertaining. White cabinetry offers a longevity that trend colours simply do not, there’s just no arguing that. They are an easy commitment that will offer you a lot of flexibility when it comes to the
aesthetics of your kitchen. However, moving beyond an all-white kitchen can open you up to a world of finishes, colours and inspirations that can see a bit of the current kitchen trends introduced into your space.
With all the fantastic colour options trending these days, we still find that white kitchens are not only desired but quite often preferred, because of their classic, timeless and simplistic approach. Though sometimes thought of as a safe choice, when considering the costs and longevity of kitchen trends not to mention the hassles of kitchen renovations, they are quite often the wise choice that can provide you with a blank canvass of sorts carrying you through the trends for many years to come. Whether you are drawn to the warmer more earthy whites or cooler, more modern whites, there is undoubtedly an abundant variety to select from for your millwork and accents that will set the tone for your space.
Add dimension to your kitchen with a patterned backsplash tile or use a bold marble, quartz or porcelain for your countertop, then continue it on your backsplash to really make a statement in your home. A great impactful floor tile or warm wood can be a wonderful asset in the space, as can the introduction of mixed metals and hardware. Adding strategic touches of colour or wood accents to your cabinetry can also enhance and elevate the aesthetics of your kitchen. And let’s not forget accessorizing your space with great colourful artwork, furniture or greenery to add some life to those white cabinets. The great thing about adding colour by accessorizing your kitchen is the ease with which it can be altered if you have tired of the latest trend colour… the blank canvass of a white kitchen will remain for the next
creative inspiration you may have. Kitchen renovations are an expensive endeavour, while revamping some accessories can prove to be far more palatable on your budget.
Today the movement is towards a streamlined look that highlights simplicity, functionality and style. Though the white-on-white kitchen has essentially been retired, white cabinetry has not and will always be a favourable, sought-after mainstay option in kitchen design. Instead of dreaming of an “all white kitchen” think about shaking it up a bit with the selective addition of colour, statement lighting or maybe a great wallpaper or fabric for a window treatment. When looking for inspiration for your kitchen renovation, look to see how you can introduce a mix of colours, textures and finishes to your “white kitchen” that will create for you a space that can keep you moving forward trend-wise while still giving you the white kitchen you desire.
Linda Mazur is an award-winning, nationally publicized designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup
FIRESIDE
elegance
THE BEAUTY AND BENEFITS OF A FIREPLACE
When designing a new floorplan or model home, one element consistently brings comfort, character and timeless appeal: The fireplace. Beyond providing warmth, fireplaces create a focal point that adds both elegance and coziness to any room.
MORE THAN JUST THE LIVING ROOM
Traditionally, fireplaces are found in the family room or living room. But today’s home layouts are more adventurous. Imagine the glow of a fireplace while sharing a meal in the dining room, prepping food in the kitchen or simply unwinding in your bedroom. Each space feels
by MARIAM ABOUTAAM
instantly elevated with the addition of this feature.
Modern homeowners have a wealth of fireplace options. Electric fireplaces, with independent switches for heat and light, make it easy to set the perfect mood in any season. Natural gas models offer a broad range of looks – from classic to contemporary – depending on the mantle and surround you choose.
SHOWCASING AWARDWINNING DESIGNS
At our award-winning model townhome, recently recognized as Best Model Home 2025 at the Ontario Home Builder’s Associations’
Awards of Distinction, we included two fireplaces that demonstrate the versatility of this feature.
In the second floor living room, a traditional plaster mantle frames an elegant electric fireplace, anchoring the high ceilings and refined moldings. The ground level family room has a sleek, raised linear fireplace that is beautifully integrated into a custom media cabinet, offering both warmth and a modern visual statement.
Another example implemented at The Haven virtual model at Angus Glen South Village highlights a stunning two-sided fireplace, visible from the combined kitchen/
A living room fireplace is an invitation to relax
breakfast area and the family room, bringing ambience and connection to multiple spaces simultaneously.
SAFETY AND SMART DESIGN
Families with young children often ask about safety. Many suppliers now offer cool-touch glass, making fireplaces safe to enjoy without worry. There are also features that allow televisions or artwork to be displayed above.
EVERYDAY LUXURY
There’s nothing quite like a flickering fireplace offering warmth on frosty mornings, brightening family gatherings and enjoying a relaxed ambience at the end of the day. Whether classic or contemporary, a fireplace can be both a source of heat and an investment in everyday comfort and timeless beauty.
COMING UP NEXT… UTILITY SPACES
In my next column, we’ll step into the less glamorous rooms of the home sharing ideas that make laundry and mudrooms surprisingly delightful.
An award-winning in-house designer, Mariam Aboutaam is Director, Sales and Marketing, Interior Design at Kylemore, Markham, Ont., a builder known for masterplanned communities and luxury homes. kylemoreliving.com.
6. The Design District 41 Wilson Street emblemdevcorp.com
7. Corktown 225 John Street South corktown.condos
NIAGARA
REGION
8. Lusso Urban Towns Martindale Rd. & Grapeview Dr. lucchettahomes.com
OAKVILLE
9. The Greenwich Condos at Oakvillage Trafalgar Rd. & Dundas branthaven.com
10. Synergy McCraney St. E. & Sixth Line branthaven.com
11. Upper West Side at Oakvillage 351 Dundas St. E. upperwestsidecondos2.ca
12. Greenwich Condos at Oakvilage Trafalgar Rd. & Dundas St. branthaven.com
13. Villages of Oakpark Dundas & Trafalgar ballantryhomes.com
STONEY CREEK
14. Casa Di Torre 980 Queenston Rd. branthaven.com
15. On The Ridge Lormont Blvd. & Chaumont Drive liveontheridge.ca
GTA NEW HOME SALES AND STARTS:
TIME FOR GOVERNMENTS TO PROVIDE CERTAINTY
Now that fall is firmly underway, the state of the housing market in Canada’s major urban areas is a top priority. The latest new home sales data is unequivocal. Without decisive and immediate action, the repercussions will not only deepen the housing crisis, but also undermine economic stability and employment, at a time when our country is confronting recessionary threats.
According to Altus Group, there were just 359 new home sales in the GTA in July 2025, a 48-per-cent decline from July 2024 and 82 per cent below the 10-year average. Sales in Vancouver and Ottawa are also sharply down, at 70 and 50 per cent below historic levels, respectively. In August, there were only 300 new home sales in the GTA, a 42-per-cent decline from August 2024 and 81 per cent below the 10-year average. September sales figures are pending, but will likely not yield a significant change in trajectory.
These results are not an anomaly, but part of an alarming and worsening trend. Year-to-date sales in 2025 (up to August) stand at 3,002 units, compared to 4,434 during the same period in 1990, one of the most difficult years on record and a time when our population was significantly smaller and housing needs were far less acute..
We have been here before: The 1990s downturn left a lasting mark
on our economy, with lost jobs in the construction and skilled trades sector, widespread financial strain on Canadians and a prolonged recovery. As governments return to capitals across the country, the need for speed and purpose could not be greater. That means three things.
First, the federal and affected provincial governments must immediately implement a comprehensive HST exemption. As Ontario Premier Doug Ford has indicated, this is not the time for half measures. A full HST exemption on the first $1 million of a new home or substantially renovated home is the only fair and equitable policy approach – and one that reflects the original intent of the GST policy on new homes.
Second, the provincial government must accelerate the full implementation of Bill 17. While it is working to deliver long-overdue changes to development charges, much of the heavy lifting is being done by regulation still under development. Specifically, in collaboration with the federal government, work must be accelerated to redefine how major infrastructure and transit investments are funded and stop placing the burden on new homebuyers. By implementing these solutions, costs can be lowered in a substantial and equitable manner and help advance stalled new housing in the region.
Third, municipalities in the GTA must consider what they can do to create an economic and regulatory environment that supports new housing construction rather than hinder it. Some, such as Mississauga,
Peel and Vaughan, have acted on development charges. Others, such as Toronto, have adopted a new approach for approvals. Councils across the GTA should be ensuring their policies and procedures are encouraging the addition of new housing rather than being a barrier by adding costs and delays.
Housing is more than just shelter – it is an economic engine. The residential construction industry supports hundreds of thousands of jobs in the GTA, from skilled trades to suppliers, professional services to manufacturers. When new home sales decline, jobs disappear. Altus Group has estimated that approximately 40 per cent of the direct jobs in the new housing sector are at risk. Not to mention the billions in investment, taxes and other spin-off impacts of the region.
The time for decisive action and leadership is now. Without it, we risk repeating the painful lessons of the past. With it, we can ensure Canadians seeking to buy a new house to call home can do so and that workers who have invested their careers in our sector can continue to build.
Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.
