Ontario’s housing market has cooled in 2025—average home prices dropped 6–9% year-over-year, depending on the property type (e.g., single-family at ~$782K, condos ~$530K)

However, sales activity remains robust, with July 2025 volumes up by over 11% compared to 2024

Takeaway: Buyers now have more negotiating power, and market activity signals a balanced environment. Sellers can still find motivated buyers, but pricing and timing are key.

Yes—for both. Buyers benefit from softer prices and higher inventory. Sellers still see good demand, especially if their homes are well-priced and marketed effectively

Takeaway: Strategic pricing matters—buyers can find value, and sellers can still move properties efficiently if they’re competitive

Mortgage rates have stabilized, and Bank of Canada rate are coming down making a favourable mortgage market, with variable rates remaining attractive.
Getting a pre-approval strengthens your offer and clarifies your budget.

Takeaway: Secure pre-approval and carefully compare fixed vs. variable options to maximize affordability.

Under $500,000: at least 5%.

$500,000–$999,999: 5% on the first $500K, 10% on the remainder.

Over $1M: 20% mandatory

Low down payments (<20%) trigger mortgage insurance, adding to your cost.

Closing costs typically run 1.5–4% of the purchase price and include:

Land Transfer Tax (provincial and possibly municipal),

Legal fees,

Title insurance,

Inspection, appraisal, and other miscellaneous fees

First-time buyers may qualify for rebates on Land Transfer Tax.

Ontario buyers can tap into:

First-Time Home Buyer Tax Credit, land transfer fee rebate

Programs like FHSA (First Home Savings Account) or RRSP Home Buyers’ Plan for down payment savings

While rent offers flexibility, buying remains a powerful wealth-building strategy, with equity gains and stability—especially in high-demand regions like the GTA.
Takeaway: For those prepared financially, buying generally offers long-term benefits over renting.

Yes—non-residents must pay the Non-Resident Speculation Tax (NRST) of 25% in specific regions and may face tougher mortgage terms, like higher down payments (often 35%+) or needing strong credit documentation

From start to finish:

Buying: 2–4 months—1–2 months for house hunting and offer prep, followed by 30–60 days from accepted offer to closing.
Takeaway: Build realistic expectations—set your timeline to accommodate financing and closing processes.

Ontario has introduced housing-friendly policies like reduced development charges, expanded land use (e.g., fourplexes and mid-rise buildings along transit lines), and potential property tax relief for first-time buyers and seniors—all designed to boost supply and improve affordability

Federal and provincial agreements have also injected funding into affordable housing projects

Takeaway: These changes may ease affordability over time and create more opportunities, especially for buyers and developers focused on emerging communities.