Investors Make Up a Growing Share of Canada’s Housing Market

Recent data from the Bank of Canada shows that investors accounted for 30% of home purchases in Canada in the first quarter of 2023, up from 28% a year earlier[1]. This highlights the growing role of investors in Canada’s housing market.

Key Facts About Investor Activity

  • Investors are defined by the central bank as buyers who take out a mortgage to purchase a property while still carrying a mortgage on another property. This signals they are purchasing the additional property as an investment rather than a primary residence[1].

  • The share of first-time home buyers shrank to 43% in early 2023, down from 48% in early 2020, indicating investors are displacing some first-time buyers[1].

  • Investors tend to prefer condominiums. They made up 41.9% of condo buyers in Ontario in early 2023[3].

  • Overall, investors own 20% of homes in Canada and 40% of condos[3]. Their share is even higher in some provinces like Nova Scotia (31.5%) [7].

What’s Driving Investor Activity?

Several factors have motivated investors to buy more properties in Canada:

  • Strong home price appreciation during the pandemic, with prices in cities like Toronto rising over 40% from early 2020 to early 2022[6]. This attracted investors hoping to profit from further gains.

  • Low interest rates made mortgages very affordable, enabling investors to leverage their buying power[23].

  • Limited housing supply, especially in major cities like Toronto and Vancouver, presented investors with a scarce asset with high demand.

  • Strong rental demand, especially for condos, provided investors with potential income streams.

Concerns Around Growing Investor Activity

While investors provide needed rental housing supply, experts warn their growing presence in Canada’s market is problematic:

  • Investors tend to amplify house price cycles, overheating markets further during boom periods[7].

  • They compete directly with first-time home buyers, making affordability worse[1][7].

  • Heavy investor ownership can lead to issues like vacant homes if purchased strictly as investments[20].

  • It can shift housing from a social good towards an investment asset[15].

Policy Responses

Canadian policymakers have introduced some measures to cool investor activity:

  • The federal government banned foreign buyers from purchasing homes for two years starting in 2023[11].

  • British Columbia and Ontario have imposed special taxes on foreign buyers[20].

  • Economists argue rising interest rates may be the most effective curb on investors by eroding affordability[23].

The growing investor role has added complexity to Canada’s housing situation. While they provide needed rental housing, policymakers are concerned investors are displacing first-time home buyers and amplifying price volatility. Their impact merits ongoing monitoring and potential policy responses.


[1] Globe & Mail
[2] Norada Real Estate[3] Financial Post[4] Santander Trade
[5] RedFlagDeals[6] WOWA[7] Statistics Canada
[8] Bennett Jones
[9] Reddit[10] CREA[11] Statistics Canada[12] CNN[13] Ground News[14] PwC Canada[15] CBC[16] Le Monde[17] Knowledia
[18] Remax
[19] Nesto[20] Al Jazeera[21] BNN Bloomberg[22] RBC
[23] Bloomberg[24] RBC[25] Fortune


What Do Canadian Real Estate Markets Look Like Heading Into Fall?

The saying when it comes to the temperature across Canada is “if you don’t like the weather, just wait five minutes.” This old cliché accurately represents some of our largest cities where things can move from pouring rain to bright sunshine almost in the blink of an eye. The same is often true of the real estate market across the country, where it often feels like things can change just as quickly.

While the days are warm and the sun is shining bright now, fall is inevitably around the corner. For buyers and sellers in Mississauga waiting for the right time to make their next move with Arora Realty, a new season can bring new market conditions and new opportunities. Yet in real estate, it’s nearly impossible to predict anything with 100% accuracy.

We spoke with Ryan Biln, an economist with the Canadian Real Estate Association (CREA), to get his thoughts on what’s to come in the last quarter of 2023 that may impact the Mississauga market.

Interest Rates Keep Surprising Us

According to Biln, the market is stronger than what economists might have expected given the frequent hikes in interest rates since spring 2022. At the start of the year, the Bank of Canada had signaled a freeze in rate hikes, which led buyers to take advantage of potentially great deals. However, with two more hikes since that time, the Mississauga market was cooler in the summer than it might have been otherwise.

However, Biln noted the cooler temperatures on the market may not be over just yet. “With uncertainty about whether we’ll see another hike at the September [Bank of Canada] meeting, we may see this slowdown continuing into the second half of the year,” noted Biln.

CREA has already adjusted its forecast for the rest of 2023 to account for what may ultimately be a cool down. The CREA Housing Market Report released on August 15, 2023, showed the Aggregate Composite MLS® Home Price Index (HPI) is just 1.5% below what it was a calendar year ago. This is the smallest decline the Canadian market has seen since October 2022, which could indicate year-over-year comparisons could return to positive territory as we close out 2023.

Who Ultimately Benefits – Buyers or Sellers?

So who’s coming out ahead in Mississauga’s confused market—buyers or sellers? In short, both sides are working to navigate a complicated landscape.

However, Biln notes CREA’s economists have seen some degree of balance restored in the market. In March, for example, listings were at a 20-year low. This summer though, in line with that ‘wait five minutes’ analogy, the number of new listings has returned to normal for this time of year, and that could mean more selection for eager Mississauga buyers ready to jump into the market with Arora Realty.

Where Are the Hot Markets?

It’s predictable to talk about the overheated real estate markets in Toronto and Vancouver as being unaffordable, with sky-high prices that well exceed the budgets of most hopeful residents. These frenzied clusters have kept expanding population circles further outside the urban centres, with new communities like Mississauga continuing to grow and expand as residents clamour for access to the downtown core, especially with many hybrid workplaces here to stay.

So what’s coming down the pipeline for fall of 2023 in Mississauga? Just like watching the weather change, local buyers and sellers may have to wait those few extra minutes. Economists across the country are paying close attention to whatever announcement comes from the Bank of Canada in September, and forecasts will be written accordingly leading into 2024. No matter what happens though, the team at Arora Realty will be ready to help you make your next move in the Mississauga market.


Detached Home Sales See Ups and Downs in Major Canadian Markets

We at Team Arora Realty read with interest this report on detached home sales from RE/MAX. As a leading real estate agency in Canada, we like to stay on top of market trends across the country.

I. Second Quarter Rebound Cut Short By Rate Hikes

The RE/MAX report found that housing markets in major Canadian cities like Toronto and Vancouver saw an initial rebound in buyer activity in the second quarter of 2022 after declines in the first part of the year.

  • Buyer demand surged, with sales of detached homes more than doubling from Q1 to Q2 in many neighborhoods. This indicates resilient demand is still present among buyers.
  • However, the increased activity was not enough to fully make up for the declines in the first quarter. On an annual basis, average detached home prices still dropped in 93% of Toronto and Vancouver neighborhoods.
  • The report cites low inventory as a major factor that constrained sales activity and prevented more meaningful price recovery. The supply of homes for sale remains extremely tight.

Tip for buyers: The surge in Q2 buyer activity shows there are still motivated buyers out there ready to move quickly when the right property comes up for sale. Be prepared to act decisively when you find a home you want.

Tip for sellers: There is strong demand from qualified buyers looking to purchase as soon as possible. Price competitively and prepare your home to take advantage of this demand.

The temporary rebound highlights the fundamental resilience of buyer demand in the market. But ongoing supply shortages prevented sales from fully bouncing back. Low inventory remains a hurdle for overall market activity.

Source: Remax

II. Value-Driven Buyers Targeting Detached Housing

The report found affordability has become a major factor influencing buyer behavior, leading more move-up buyers to target the detached housing market.

  • With prices down from last year, move-up buyers saw an opportunity to upgrade to a detached home. Detached housing market share increased in Toronto and Vancouver.
  • Suburban regions like York Region with significantly lower prices than Toronto saw strong demand. Detached homes there are cheaper without Toronto’s municipal land transfer tax.
  • Buyers focused on finding the best value have been willing to look farther from city centers to find more affordable detached homes.

Tip for buyers: Take time to explore suburban regions just outside major city centers to find relatively affordable detached housing options.

Tip for sellers: Highlight value if selling a suburban detached home. Note proximity to city amenities but emphasize lower prices and taxes.

Affordability has become the top priority for many buyers. This is driving increased demand for reasonably priced detached homes, especially in suburban areas where buyers can find deals compared to the city.

III. Sales Outperform in Select Neighborhoods

While the overall trend was downward, the report highlights some neighborhoods that bucked the price decline:

  • Tight inventory conditions and sales at the luxury end boosted prices in some areas like parts of Toronto’s central core and West Vancouver.
  • Even in top-performing neighborhoods, buyers still focused on finding good value. Areas perceived as undervalued or offering larger lots and homes saw strong demand.
  • Affordable lifestyle markets like the Gulf Islands also saw price gains, driven by remote work trends. Limited supply placed upward pressure on pricing.

Tip for buyers: Consider looking just outside the most in-demand central luxury neighborhoods to find relatively better value.

Tip for sellers: In high-demand low-supply areas, be prepared for bidding wars and sales above asking. Price competitively but not too conservatively.

Isolated areas continue to see price gains thanks to tight inventory and luxury demand. But value remains key even in these neighborhoods, guiding buyers just outside core luxury districts.

IV. Affordability Remains Key Market Driver

The report emphasizes affordability is still the primary factor driving buyer behavior and demand trends:

  • Buyers are focused on finding properties and communities that provide good value or help offset costs.
  • Home features like rental units that provide rental income are popular given their ability to subsidize mortgage payments.
  • Demand has increased in more affordable regions surrounding major metro areas as buyers get priced out of central cities.

Tip for buyers: Prioritize affordability and look for ways a home can save money through rental income potential or future renovation value.

Tip for sellers: Highlight any features that deliver cost savings or rental income. Also note potential value from renovations or redevelopment.

With affordability top of mind, buyers are laser-focused on finding the best deals and homes that can reduce expenses. Features that enable cost savings or rental income are highly desirable.

V. Outlook Depends on Rates and Inventory

The report concludes the outlook for housing markets depends heavily on two key factors:

  • Further interest rate hikes could restrain buyer demand for the foreseeable future if implemented as expected. Higher rates reduce purchasing power.
  • But if rates stabilize and affordability improves, buyer activity could pick up again as markets return to equilibrium.
  • Low inventory will put a floor under prices in the interim. Short supply prevents more significant declines.

Tip for buyers: Lock in low rates now if buying soon, but don’t overextend your budget in case rates rise further.

Tip for sellers: Low inventory will support pricing. But price appropriately for current high rates and buyer budgets.

The path forward relies on interest rates and inventory levels. Higher rates will constrain demand, but current limited supply will prevent large price declines. Stability could bring buyer activity back. But the timing remains uncertain.


How You See Greenbelt Developments relation With Housing Shortage

In recent news, Ontario’s Greenbelt has been at the center of attention due to the selection of protected land for housing development. While the process has raised concerns, it’s worth exploring how this development could potentially impact the real estate landscape in Ontario. In this blog post, we’ll delve into the positive aspects of these developments and their implications for the real estate business.

  1. Addressing Housing Shortages: The expansion of housing into Greenbelt areas can contribute to addressing housing shortages in Ontario. As demand for housing continues to grow, the availability of new land for development can ease the pressure on the housing market. This, in turn, could lead to more diverse and affordable housing options for residents.
  2. Increased Housing Supply and Choice: The introduction of new housing developments provides buyers with a broader array of options to choose from. Whether it’s a single-family home, townhouse, or condominium, these developments can cater to various preferences and budgets. Increased choice can result in a healthier, more competitive real estate market.
  3. Job Creation and Economic Growth: Real estate development has a cascading effect on the economy. New construction projects create jobs for builders, contractors, architects, and various other professionals. Additionally, these projects can lead to increased economic activity in the surrounding areas, including retail and services.
  4. Community Infrastructure and Amenities: As new housing developments are planned, community infrastructure and amenities often follow suit. Schools, parks, shopping centers, and recreational facilities are frequently integrated into these developments. This can enhance the overall quality of life for residents and contribute to the growth of thriving neighborhoods.
  5. Investment Opportunities: The introduction of new developments can present lucrative investment opportunities for real estate investors. Early investment in these emerging areas could yield significant returns as the neighborhoods evolve and grow.
  6. Revitalizing Undeveloped Areas: Transforming previously untouched Greenbelt land into vibrant communities can breathe new life into these areas. The revitalization of underutilized land can lead to increased property values and rejuvenated neighborhoods.
  7. Supporting Sustainable Practices: Many modern real estate developments prioritize sustainable building practices. Green technologies, energy-efficient designs, and eco-friendly amenities are often integrated into these projects. This commitment to sustainability aligns with the broader global trend toward environmentally conscious living.

While the process of selecting Greenbelt land for housing development in Ontario has been under scrutiny, it’s important to recognize the potential positive impact on the real estate landscape. The expansion of housing options, increased housing supply, job creation, community development, and investment opportunities are all factors that can contribute to a thriving and dynamic real estate sector. As these developments unfold, it’s essential to strike a balance between growth and responsible land use to ensure a brighter future for Ontario’s communities. Please share your valuable comments.


Clearing the Path: How Ontario Can Accelerate Home Building

Ontario is in the grips of a severe housing supply and affordability crisis that requires urgent action. Demand for homes far outpaces what is being built, leading to skyrocketing home prices and rents that are pricing many residents out of the market. This not only impacts homebuyers but also poses a major threat to economic prosperity if workers and families are forced to leave major cities due to unaffordability.

While all levels of government now acknowledge the scale of the problem, bold steps must be taken to boost housing supply rapidly. The construction industry believes it has the capacity to build substantially more new homes to meet targets, but systemic barriers are preventing them from doing so. Excessive regulations, delays in approvals, and uncompetitive tax burdens are some of the major hurdles.

According to estimates, Ontario likely needs between 1.5 to 1.85 million new homes built over the next decade to address the shortfall. However, only 96,000 homes were constructed in 2022, far below what is required. To put this in perspective, the annual pace of housing construction needs to essentially double from the historical average of 75,000 per year if supply is to catch up with demand.

With strong political will, a clear strategy, and willingness to make tough reforms, it is possible to resolve Ontario’s housing crisis. But time is running out. The situation will only worsen if urgent action is not taken now to enable the construction industry to build the hundreds of thousands of homes the province desperately needs.

Removing Barriers to Home Building

A major barrier standing in the way of substantially increasing housing construction is the extensive regulations and red tape surrounding development approvals. By some estimates, there are up to 45 different government bodies and agencies involved in approving new housing projects in Ontario. From municipal planning departments to conservation authorities and school boards, layers of bureaucracy slow down approvals to a crawl. It takes years for shovel-ready projects to get the green light, if they even do. Compared to global leaders like Singapore, which relies on only 12 bodies for approvals, Ontario’s process is outdated and inefficient. To meet bold housing targets, the whole approvals procedure needs an overhaul to remove duplication, inconsistencies, and outdated planning policies. The industry has the capacity to build, but first government must help by modernizing the system and clearing the path.

How Ontario Can Accelerate Home Building
How Ontario Can Accelerate Home Building

Speeding up the Approvals Process

To significantly increase the pace of housing construction, the development approvals process desperately needs modernization. With up to 45 government entities involved in approvals, getting projects off the ground takes far too long.

Ontario should follow the lead of jurisdictions like Singapore that rely on just 12 bodies to grant approvals, using online systems and clear guidelines to speed up decisions. Digitizing and consolidating the approvals process would help eliminate duplication and inconsistencies. Provincial and municipal governments also need to review outdated planning policies and zoning rules that restrict housing density and supply.

Establishing firm timelines and service standards for approvals along with “deeming provisions” if delays occur, would help quicken the pace. With today’s technology, there is no reason the approvals process can’t be far more efficient. But it will take political courage from leaders to push through the necessary reforms.

The Risks of Inaction

If significant action is not taken soon to remedy the housing supply shortage, Ontario risks losing talent and economic competitiveness. With home prices and rents Spiraling out of control, young professionals and working families are already leaving major urban Centers for more affordable cities out west and east. Ontario could face a dangerous brain drain if Unaffordability persists.

Businesses will also struggle to attract labor if workers cannot secure housing they can reasonably afford near job centers. Furthermore, the lack of supply is preventing natural population growth from immigration, costing the economy in missed opportunities.

While all levels of government now recognize these risks, acknowledgment must be paired with swift, bold reforms before the situation deteriorates further. The consequences of failing to act decisively on removing barriers to construction and boosting housing supply will be far-reaching. The time for urgent action is now.


Ontario finds itself at a critical juncture when it comes to resolving its housing crisis. The construction industry has signaled it can deliver the hundreds of thousands of new homes required over the next decade through embracing innovation and new building techniques.

But government must also play its part by clearing away systemic barriers like excessive regulations, tax burdens, and broken approvals processes currently restricting supply and driving up costs. With strong leadership and a willingness for systemic reform, it is possible to ensure Ontario remains a place where workers, families, and businesses can thrive.

But action must be taken now before the window of opportunity closes. By working collaboratively, government and industry can ensure the province builds the homes it needs to support economic growth and prosperity for all its residents.

The solutions are within reach – what is needed is urgent implementation driven by political courage.

Get Top Dollar for Your Property Today

Compare Our Standard With the Market Average

At Our Standard, we understand that purchasing a home is one of the biggest investments you may make in your lifetime. That’s why we strive to provide our buyers with the best properties at the most competitive prices. We are proud to say that, as of July 2022, our team was able to achieve an average selling price for houses in Brampton ON of over $1M. This demonstrates our commitment to helping you find a property that meets your needs and budget requirements.

We don’t just stop there either; not only will you benefit from industry-leading prices, but also get access to exclusive deals. Our knowledgeable team of experienced real estate professionals can help guide you through the buying process so you can make informed decisions throughout your journey.

The real estate market in Ontario has seen a significant drop in average prices for single-family homes. However, our company offers the best prices in the market, so sellers can still get top dollar for their properties. In this blog, we will explore the housing market in Brampton, Ontario, and explain how our company’s unique approach to property valuation can help sellers get the best price for their properties.

Average Price of Single-Family Homes in Ontario

According to recent data, the average price of an average single-family home in Ontario decreased by 20.6% year-over-year to $945,000 for May 2023. This may seem like bad news for property sellers, but it is important to note that our company offers the best prices in the market, so sellers can still get top dollar for their properties.

Housing Market in Brampton, Ontario

Let’s take a closer look at the housing market in Brampton, Ontario, one of the cities that our company operates in. As of July 2022, properties in Brampton had a median price of $1,027,535. This may seem high, but it is important to note that the majority of homes sold in the city in the past month were single-family detached homes, with an average price of $1,212,988. This shows that there is still a strong demand for high-end properties in Brampton, and sellers can still get top dollar for their homes.

Our Company’s Approach to Property Valuation

At our company, we pride ourselves on offering the best prices in the market for properties. We take a unique approach to property valuation by working closely with our clients to understand the unique features and selling points of their properties. We use this information to create a customized valuation that takes into account all of the factors that can affect the price of a property, such as location, size, age, and condition.

Expert Advice and Guidance from Experienced Agents

In addition to our customized valuations, we also offer a range of other services to help sellers get the best price for their properties. Our team includes experienced real estate agents who have a deep understanding of the local market and can provide expert advice and guidance on pricing, marketing, and negotiation.

Marketing and Advertising Services to Reach Potential Buyers

We also offer a range of marketing and advertising services to ensure that your property is seen by as many potential buyers as possible. We use a combination of traditional and digital marketing techniques to reach a broad audience of potential buyers, including targeted social media advertising and email campaigns.

The Importance of the Local Housing Market

One of the most important factors that can affect the price of a property is the state of the local housing market. As we have seen, the average price of single-family homes in Ontario has decreased significantly over the past year. However, this does not mean that sellers cannot still get top dollar for their properties. As we have seen in Brampton, there is still a strong demand for high-end properties, and sellers who can position their properties in the right way can still achieve excellent results.

Customized Solutions for Every Property and Seller

At our company, we understand that every property and every seller is unique, and we work closely with our clients to create customized solutions that meet their individual needs. Whether you are looking to sell a high-end luxury property or a more modest family home. At Our Standard, we are committed to helping our buyers get the best possible value for their money. With competitive pricing and exclusive deals, you can rest assured that you’re getting quality property at an affordable price. Contact us today to learn more about what we can do for you!

We hope this information has been helpful to you in understanding our standard vs. the market. We are confident that when it comes to finding a property for your needs, we can help you get the best value for your money. Contact us today and let one of our experienced real estate professionals guide you through your buying process! Thank you again for considering Our Standards. We look forward to helping you find the perfect property!

We look forward to working with you! We look forward to helping you with all of your real estate needs!

The 8 Best Places to Visit in the GTA this Summer

Summer is here, and it’s the perfect time to hit the streets and discover the best places to have a blast in our beloved city. From stunning beaches to vibrant neighborhoods, GTA has got it all! Let’s take a ride through some of the must-visit spots this summer.

Top 8 Must-Visit Spots in the GTA this Summer

1. Toronto Islands

This chain of 15 small islands located in Lake Ontario can be aptly described as the oasis in the city. The cluster is just a 13 to 15-minute ferry/boat ride from the port of downtown.

With sandy beaches, lush greenery, and breathtaking views of the city skyline, the Toronto Islands are indeed an oasis of relaxation. However, don’t forget your picnic basket and sunscreen as you set out for your perfect day of relaxation.

2. Kensington Market

If you are looking for some urban adventure, make your way to Kensington Market. This lively and diverse neighborhood is bursting with color, creativity, and a vibrant mix of cultures.

As you wander the narrow streets, you will be greeted with an array of food vendors, vintage shops, and quirky boutiques. The market is the perfect spot to grab a quick bite or hunt for unique souvenirs to remember your summer escapades.

3. Niagara Falls

There is no better way to escape the city buzz for a while than to head north to the beautiful Niagara Falls. The sight of these powerful waterfalls is nothing short of awe-inspiring.

You can take a boat tour to get up close and personal with the falls or explore the nearby parks and hiking trails for a nature-filled adventure. And remember to capture these fantastic memories on camera.

4. Distillery District

Back in the city, check out the Distillery District. This historic area is brimming with charm and character. Cobblestone streets, Victorian-era buildings, and an artsy vibe make it the ideal place to take a leisurely stroll. Plus, there are plenty of cafes, galleries, and craft shops to explore along the way.

One pro tip we can’t help but give is: make sure to visit in the evening when the district lights up – the sights become truly magical.

5. Royal Ontario Museum (ROM)

Feed your curiosity at the Royal Ontario Museum (ROM) with its diverse collection of artifacts and exhibits. The museum is the largest in Canada and the fifth largest in North America. In all sections of the museum, there is an impressive collection of artifacts and exhibits spanning different eras and civilizations.

Each collection offers an enriching experience for curious minds of all ages. And no matter what you are into – be it art, ancient civilizations, or dinosaurs, you will definitely find something fascinating there.

6. The Beaches

This quaint neighborhood is home to four beautiful sandy beaches and has some of the most stunning homes in the Greater Toronto Area. As a result, it is a hotspot for sunbathing, beach volleyball, and water sports.

Have a day of fun in the sun, and treat yourself to some ice cream or fish and chips at the local eateries in this charming laid-back town.

7. CN Tower

Feeling a bit adventurous? How about heading to the CN Tower in downtown Toronto? The dartlike edifice, standing at 553 feet above the ground, once held the title of the tallest freestanding building in the world for 31 years (1976-2007).

There are high-speed elevators to take visitors to the observation point at the top of the tower. Once at the top, you can walk along the outside of the tower’s main pod – suspended 356 meters above the ground!

If that is a bit too extreme for you, you can settle for a meal at the revolving 360 Restaurant which offers panoramic views of the city as you dine.

8. High Park

High Park is the largest public park in Toronto and it features several attractions such as numerous hiking trails, a beautiful lakefront, and diverse vegetation. If you want a day of relaxation amidst nature in the GTA, you can’t go wrong by visiting this area.

Enjoy a leisurely walk, have a picnic under the shade of century-old trees, or simply bask in the beauty of the cherry blossoms if you visit during the blooming season.


So, there you have it – the best places to explore in GTA this summer. From island getaways to cultural delights, there’s something for everyone in this vibrant city. Grab your friends, family, or even go solo, and make the most of the sunny days ahead.


Transforming Toronto’s Skyline: The Exciting New Development on Denarda Street

Hello, GTA! Team Arora, your trusted real estate partner, is here with some exciting news about a transformative development project in our beloved city. A quiet residential street in Toronto’s Mount Dennis neighbourhood is set to undergo a significant transformation, promising to redefine the local skyline and bring a fresh wave of urban living.

KingSett Capital, a leading private equity real estate investment business, has proposed a project that will replace an entire block of single-family homes on Denarda Street with a new two-tower condominium complex.

This ambitious project will introduce 509 condominium units, including a mix of studios, one-bedroom, two-bedroom, and three-bedroom suites, catering to a diverse range of residents.

The development is not just about high-rise buildings; it’s about creating a community. The towers will offer over 2,000 square meters of amenities per building, including green roofs, children’s play areas, and pet-friendly features. Plus, the complex will provide ample parking spaces for both vehicles and bicycles, ensuring residents’ transportation needs are met.

But the transformation doesn’t stop at the buildings. The project aims to enhance the public realm along Denarda Street, creating an inviting and attractive streetscape with widened sidewalks and lush landscaping. A new public parkland will also be established, serving both future residents and the broader community.

One of the most exciting aspects of this development is its strategic location. With the planned Eglinton Crosstown West Extension and several existing TTC bus routes within walking distance, and the Weston GO Station just an 11-minute bus ride away, residents will have easy access to the best of what the GTA has to offer.

At Team Arora, we believe that this development represents a significant step forward in urban living, bringing together modern housing, community amenities, and excellent transit connectivity. As the number one real estate agency in the GTA, we’re excited to help you navigate these changes and find your perfect home in this evolving cityscape.

Stay tuned to our blog for more updates on this development and other real estate news in the GTA. Remember, whether you’re buying or selling, Team Arora is here to guide you every step of the way.


Brampton Real Estate Market Update for Q2 2023

The Toronto Regional Real Estate Board recently released housing data for the second quarter of 2023, providing a glimpse into how the market in Brampton is shaping up this year.

As one of the fastest growing cities in the GTA, Brampton’s real estate trends are always top of mind for buyers, sellers, and agents alike.

The data shows that while the frenzied market of 2021 and early 2022 has cooled considerably, the correction many predicted has not materialized in a significant way. Rather, prices in Brampton remain high while sales volumes have slowed down.

This points to a market that is re-balancing but still competitive for buyers. Sellers who price their homes appropriately can still expect healthy interest.

In this report, we’ll break down the key statistics from Q2 2023 and what they mean for Brampton’s real estate outlook for the rest of the year. Whether you’re looking to buy, sell or invest, understanding where the market is heading will help you make informed decisions.

The data suggests Brampton remains a strong market, albeit one that is transitioning from an extreme seller’s market to something more moderate.

Sales Activity Slows Down but Prices Remain High

The most telling statistic is the year-over-year drop in total sales. There were 659 existing home sales in Brampton in Q2 2023, down 15% from 780 in Q2 2022. This cooldown was expected given rising interest rates meant to tame the overheated market. Sales are returning to more normal levels after the frenzy of the past 2 years.

However, while sales declined, average prices increased across Brampton. The average selling price for all home types was $1,043,704 in Q2 2023, up 5% from $1,002,450 last year. This divergence of sales decreasing while prices hold steady points to a tempering rather than collapse.

Detached homes, always in high demand in the suburbs, saw the strongest price appreciation. The average detached price jumped to $1,052,338, up 10% from $960,000 in Q2 2022. With more modest price growth for condos and townhouses, low-rise detached remains the engine driving Brampton’s market.

The takeaway so far? Buyer demand has cooled from its peak but supply is still limited enough to put upward pressure on prices. Sales activity has normalized but no dramatic price corrections yet. For buyers, less competition but still high asking prices.

What’s in Store for the Rest of 2023

The data from Q2 provides clues on where Brampton’s market is headed for the remainder of 2023. Several key factors will influence activity and prices.

Interest Rates

The Bank of Canada has aggressively raised interest rates in 2022 and early 2023 to combat high inflation. The benchmark rate sits at 4.5% as of July, up from just 0.25% at the beginning of 2022. This has pushed mortgage rates higher, reducing purchasing power and cooling demand. Expect rising rates to be the biggest drag on sales through the end of 2023.

Economic Uncertainty

Recession risks are mounting with inflation still high, rates rising, and global growth slowing. Consumer confidence has dropped which may further deter buyers. However, Brampton’s market has so far brushed off economic worries as job growth remains solid. Employment trends in the coming months will be key to watch.

Imbalance Between Supply and Demand

The sales to active listings ratio shows demand exceeds supply in Brampton. Though demand has fallen, supply is still constrained. This imbalance prevents a more dramatic slide in prices. More listings may come onto the market in the fall. But builders are slowing construction, limiting new inventory.

Overall, expect sales to continue easing while prices remain relatively firm through 2023. There are deals for buyers willing to search, unlike last year’s frenzy. But no dramatic dips on the horizon barring a sharp rise in unemployment.

Statistic Q2 2023
Total Sales 659
Average Sold Price (All Home Types) $1,043,704
Median Sold Price (All Home Types) $960,000
Average Sold Price (Detached) $1,052,338
Median Sold Price (Detached) $1,110,000
Sales-to-Listings Ratio (All Home Types) 56%
Days on Market (All Home Types) 17

Key Takeaways for Brampton’s Market

The Q2 2023 real estate statistics from TRREB reveal a market that has cooled from last year’s feverish pace but remains relatively healthy.

For buyers, the takeaway is that competition has eased with fewer bidding wars. However, prices remain elevated as demand still outpaces supply. Being pre-approved and ready to act quickly on the right listing is advised. Focus on value segments in Brampton like condos and townhouses where price growth has been more modest.

Sellers still have the upper hand given the sales-to-active listings ratio. But pricing correctly is critical. Chasing last year’s prices could mean sitting on the market longer. Review comparables thoroughly and price just slightly below market.

Investors may want to monitor segments like Brampton East Industrial and Claireville Conservation for future development potential.

While sales have tempered from their 2021 peak, Brampton remains a strong market thanks to its affordability and growth prospects. The data shows resilience even as rates rise. Staying informed on local conditions is key for navigating the path ahead.

Mississauga Location

268 Derry Rd W Unit 101, Mississauga, ON L5W 0H6

Brampton Location

2 County Court Blvd #150, Brampton, ON, L6W 3W8

Halton Hills Location

23 Mountainview Rd S, Georgetown, ON L7G 4J8