July 7, 2025 • 6 mins
In this episode, Sandy MacKay introduces the new housing market report for 2024, providing an overview of its key findings. The discussion shifts to a regional focus, with insights from the report's authors on the Ontario markets. Sandy highlights top stories in Canadian real estate, including the downturn in Toronto, and examines migration trends and social inclusion insights. The episode delves into the core housing needs, offering strategic advantages for investors. Sandy also explores the balance between economic opportunity and social responsibility, providing listeners with a comprehensive understanding of the current multifamily real estate landscape in Canada.
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Episode Transcript
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(00:00):
Did you know that the latest New Housing MarketReport for 2024 provides experimental estimates
(00:04):
that could reshape how we view the housinglandscape in Canada?
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy MacKay.
Let's get right to it.
The New Housing Market Report, released on July7, 2025, offers a quarterly snapshot of the new
(00:24):
housing market across Canada.
It's a vital tool for economists, builders,developers, policymakers, and Canadians alike,
aiming to evaluate the ever-changing dynamicsof the housing market.
This report stands out by providing detailedgeographic insights, making it particularly
useful for those within the real estate sectorwho are looking to compare these findings with
(00:48):
resale market statistics.
The report measures the average quarterly pricefor all dwelling types listed or sold in
Canada, covering both single-family homes—suchas detached, semi-detached, and townhomes—and
multi-family dwellings.
This comprehensive coverage ensures thatstakeholders have a robust understanding of the
(01:09):
market trends across different housing types.
While the report spans the entire country, itsinsights are especially pertinent to those of
us focusing on markets in Ontario, includingcities like Hamilton, Niagara, Burlington,
Oakville, Kitchener-Waterloo, London, andCambridge.
These regions are pivotal in the multi-familyreal estate landscape, and the data provided
(01:34):
can help in making informed investmentdecisions.
The authors, Vanden Tillaart, Ryan, Siatchinov,Alexei, and Verma, Rohit, have crafted this
analytical series to highlight shifts inpricing and supply-demand relationships.
Their work allows us to better comprehend thenuances of the new housing market, offering a
(01:55):
clearer picture of where opportunities andchallenges might lie.
For those interested in diving deeper, thereport is available in both HTML and PDF
formats, released simultaneously on July 7,2025.
It's a substantial resource for anyone keen onunderstanding the intricacies of residential
(02:16):
construction and investment, and how thesefactors play into the broader economic picture.
Let's dive into this week's top stories inCanadian real estate.
A recent report from the Royal Bank of Canadahighlights that Canadian real estate is the
most affordable it's been in three years.
However, it still hovers near the peak levelsof the 1990s housing bubble.
(02:40):
In the first quarter of 2025, a medianhousehold needed to allocate 55 percent of its
income to carry a mortgage.
While this is a slight improvement, it's stillquite challenging for many Canadians.
Shifting focus to Toronto, the real estateindustry is facing a significant downturn, with
(03:01):
the Toronto Regional Real Estate Boardreporting the fewest sales for June in 25
years.
Despite a minor reduction in prices, there's apersistent demand imbalance.
Interestingly, while some industry insiderspoint to crime, such as home invasions and car
thefts, as a factor for weak sales, datasuggests crime might actually be boosting
(03:22):
sales.
The country's anti-money laundering watchdoghas noted that proceeds from car thefts are
being funneled into housing, which adds acurious twist to the narrative.
New home sales in Greater Toronto have hit arecord low, with only 42 condos sold in the
city, despite plans for tens of thousands ofunits.
The market now holds an astounding 17 months ofinventory.
(03:45):
This drop in sales indicates a softeningdemand, even as prices have only seen minor
changes.
It's a challenging time for developers andinvestors in the region, but this could present
opportunities for those looking to enter themarket at a lower entry point.
Finally, we're seeing a significant migrationtrend with Canadians leaving the country in
(04:06):
record numbers, most notably from Ontario andBritish Columbia.
These two provinces, accounting for nearly 70percent of the outflow, are among the most
expensive, which may be influencing thisexodus.
As talent leaves, it raises concerns about thelong-term economic impacts on these regions.
(04:26):
However, this could also open up opportunitiesfor new investors and businesses to fill the
gap left behind.
Now let's explore some intriguing insights fromStatistics Canada, focusing on social inclusion
indicators for ethnocultural groups in Canada,specifically around basic needs and housing.
This data was released on July 7, 2025, andit's part of a broader framework that includes
(04:52):
themes like household food security, dwellingownership, and housing affordability among
others.
The data visualization tool provides acomprehensive look at the social inclusion
indicators, which can be broken down by visibleminority status and other sociodemographic
characteristics.
This tool is particularly valuable forpolicymakers and community leaders aiming to
(05:14):
understand and address the diverse needs ofCanada's population.
It's noteworthy that the data covers variousgeographical levels, from the national scale
down to specific provinces, territories, andcensus metropolitan areas.
This level of detail allows for a nuancedunderstanding of how different communities
(05:35):
across Canada are faring in terms of theirbasic needs and housing situations.
Among the highlights, the tool providesinsights into the population living in core
housing need and those residing in suitable andaffordable housing.
These indicators are vital for assessing thequality of life and economic stability within
different ethnocultural groups, highlightingareas where intervention might be necessary.
(06:00):
For those in the real estate field,particularly in multifamily housing, this data
can offer a strategic advantage.
Understanding the housing needs and challengesfaced by diverse communities can guide
investment decisions and development plans,ensuring projects are aligned with community
needs.
By leveraging these insights, investors anddevelopers can not only contribute to the
(06:23):
betterment of communities but also potentiallytap into underserved markets.
It's about finding that balance betweeneconomic opportunity and social responsibility,
something that is increasingly important intoday's market.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
I'm your host, Sandy MacKay.
(06:43):
See you on the next one.
Did you know that the latest New Housing MarketReport for 2024 provides experimental estimates
(00:04):
that could reshape how we view the housinglandscape in Canada?
Welcome to the Multifamily Real Estate InsightsPodcast.
I'm your host, Sandy MacKay.
Let's get right to it.
The New Housing Market Report, released on July7, 2025, offers a quarterly snapshot of the new
(00:24):
housing market across Canada.
It's a vital tool for economists, builders,developers, policymakers, and Canadians alike,
aiming to evaluate the ever-changing dynamicsof the housing market.
This report stands out by providing detailedgeographic insights, making it particularly
useful for those within the real estate sectorwho are looking to compare these findings with
(00:48):
resale market statistics.
The report measures the average quarterly pricefor all dwelling types listed or sold in
Canada, covering both single-family homes—suchas detached, semi-detached, and townhomes—and
multi-family dwellings.
This comprehensive coverage ensures thatstakeholders have a robust understanding of the
(01:09):
market trends across different housing types.
While the report spans the entire country, itsinsights are especially pertinent to those of
us focusing on markets in Ontario, includingcities like Hamilton, Niagara, Burlington,
Oakville, Kitchener-Waterloo, London, andCambridge.
These regions are pivotal in the multi-familyreal estate landscape, and the data provided
(01:34):
can help in making informed investmentdecisions.
The authors, Vanden Tillaart, Ryan, Siatchinov,Alexei, and Verma, Rohit, have crafted this
analytical series to highlight shifts inpricing and supply-demand relationships.
Their work allows us to better comprehend thenuances of the new housing market, offering a
(01:55):
clearer picture of where opportunities andchallenges might lie.
For those interested in diving deeper, thereport is available in both HTML and PDF
formats, released simultaneously on July 7,2025.
It's a substantial resource for anyone keen onunderstanding the intricacies of residential
(02:16):
construction and investment, and how thesefactors play into the broader economic picture.
Let's dive into this week's top stories inCanadian real estate.
A recent report from the Royal Bank of Canadahighlights that Canadian real estate is the
most affordable it's been in three years.
However, it still hovers near the peak levelsof the 1990s housing bubble.
(02:40):
In the first quarter of 2025, a medianhousehold needed to allocate 55 percent of its
income to carry a mortgage.
While this is a slight improvement, it's stillquite challenging for many Canadians.
Shifting focus to Toronto, the real estateindustry is facing a significant downturn, with
(03:01):
the Toronto Regional Real Estate Boardreporting the fewest sales for June in 25
years.
Despite a minor reduction in prices, there's apersistent demand imbalance.
Interestingly, while some industry insiderspoint to crime, such as home invasions and car
thefts, as a factor for weak sales, datasuggests crime might actually be boosting
(03:22):
sales.
The country's anti-money laundering watchdoghas noted that proceeds from car thefts are
being funneled into housing, which adds acurious twist to the narrative.
New home sales in Greater Toronto have hit arecord low, with only 42 condos sold in the
city, despite plans for tens of thousands ofunits.
The market now holds an astounding 17 months ofinventory.
(03:45):
This drop in sales indicates a softeningdemand, even as prices have only seen minor
changes.
It's a challenging time for developers andinvestors in the region, but this could present
opportunities for those looking to enter themarket at a lower entry point.
Finally, we're seeing a significant migrationtrend with Canadians leaving the country in
(04:06):
record numbers, most notably from Ontario andBritish Columbia.
These two provinces, accounting for nearly 70percent of the outflow, are among the most
expensive, which may be influencing thisexodus.
As talent leaves, it raises concerns about thelong-term economic impacts on these regions.
(04:26):
However, this could also open up opportunitiesfor new investors and businesses to fill the
gap left behind.
Now let's explore some intriguing insights fromStatistics Canada, focusing on social inclusion
indicators for ethnocultural groups in Canada,specifically around basic needs and housing.
This data was released on July 7, 2025, andit's part of a broader framework that includes
(04:52):
themes like household food security, dwellingownership, and housing affordability among
others.
The data visualization tool provides acomprehensive look at the social inclusion
indicators, which can be broken down by visibleminority status and other sociodemographic
characteristics.
This tool is particularly valuable forpolicymakers and community leaders aiming to
(05:14):
understand and address the diverse needs ofCanada's population.
It's noteworthy that the data covers variousgeographical levels, from the national scale
down to specific provinces, territories, andcensus metropolitan areas.
This level of detail allows for a nuancedunderstanding of how different communities
(05:35):
across Canada are faring in terms of theirbasic needs and housing situations.
Among the highlights, the tool providesinsights into the population living in core
housing need and those residing in suitable andaffordable housing.
These indicators are vital for assessing thequality of life and economic stability within
different ethnocultural groups, highlightingareas where intervention might be necessary.
(06:00):
For those in the real estate field,particularly in multifamily housing, this data
can offer a strategic advantage.
Understanding the housing needs and challengesfaced by diverse communities can guide
investment decisions and development plans,ensuring projects are aligned with community
needs.
By leveraging these insights, investors anddevelopers can not only contribute to the
(06:23):
betterment of communities but also potentiallytap into underserved markets.
It's about finding that balance betweeneconomic opportunity and social responsibility,
something that is increasingly important intoday's market.
Thank you for listening to the Multifamily RealEstate Insights Podcast.
I'm your host, Sandy MacKay.
(06:43):
See you on the next one.
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