AGP Executive Report
Last update: 7 minutes agoHousing Investment: Ottawa added $130 million for Inuit-led housing, bringing federal support to $327.8 million for new homes, repairs and affordability programs. Enoch Cree Nation also broke ground on a neighbourhood planned for about 166 homes. Market Conditions: The Bank of Canada’s first rate hike in three years has cooled hopes of a GTA housing recovery, while analysts warn mortgage costs could keep buyers cautious. The central bank does not expect the housing market to heat up soon. Rental Supply: Edenshaw has started work on a 30-storey rental tower in Mississauga’s Port Credit, as Metro Vancouver’s purpose-built rental market holds up better than its stalled condo market. Building Costs: High prices remain tied to more than land: a study says new Vancouver homes sell for over 4.5 times construction cost, compared with nearly double in Toronto, Calgary and Edmonton. Aging water infrastructure is also holding back housing construction in Quebec.
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