CMHC releases new analysis of condo markets in Toronto and Vancouver
OTTAWA, ON, June 10, 2025 /CNW/ - Between 2022 and 2025, condominium apartment sales dropped by 75% and 37%, in Toronto and Vancouver Census Metropolitan Areas (CMA), respectively. Inventories more than doubled and prices fell. New analysis by Canada Mortgage and Housing Corporation (CMHC) looks at the driving factors behind this trend and risks to broader efforts to increase housing supply over the long term.
While the growing inventories are leading to lower sale prices and asking rents for buyers and renters in the most expensive centres in the country, these factors also put downward pressure on new condo supply. Between 2022 and 2024, the number of cancelled units in Toronto and Vancouver increased five- and ten-fold, respectively. This presents a challenge for both the existing housing shortage and future supply growth.
Read the full report on CMHC's website: Condominium Apartment Market Risks in Vancouver and Toronto.
Related Links:
Solving the housing crisis is a marathon not a sprint | CMHC
The way back to housing affordability episode| CMHC
High housing costs make it hard to move for desirable jobs | CMHC
Housing starts up 2% in 2024 from 2023 | CMHC
Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/10/c0346.html
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
WALL FINANCIAL CORPORATION ANNOUNCES Q1 2026 FISCAL RESULTS
VANCOUVER, BC, June 12, 2025 /CNW/ - Wall Financial Corporation (TSX: WFC) (the "Company") released its operating results and financial statements for the three months April 30, 2025. The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the three months ended April 30, 2025 of $5,680,502 or $0.18 per share compared to $3,357,816 or $0.10 per share in the prior period. Net earnings from rental apartment operations increased due to the recovery of accrued costs related to the sale of an investment property that was sold in March 2022 and lower interest expense. Earnings from the Company's hotels increased due to lower operating costs. Revenues and earnings from the Company's development operations increased due to the closing of condominium units and one land lot sale in the current period. Three months ended April 30 Statements of Earnings 2025 2024 Total revenue and other income $ 43,788,037 $ 36,181,823 Net earnings attributable to shareholders of the Company 5,680,721 3,357,816 Earnings per share (diluted and non-diluted) 0.18 0.10 Statements of Financial Position April 30, 2025 January 31, 2025 Total assets $ 931,514,000 $ 927,381,509 Total non-current liabilities 306,602,552 308,078,997 The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described in notes 2 and 3 of the Company's audited consolidated financial statements for the years ended January 31, 2025 and 2024. Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties. SOURCE Wall Financial Corporation View original content to download multimedia: Sign in to access your portfolio
Yahoo
38 minutes ago
- Yahoo
GWL Realty Advisors and Mayor Gondek Celebrate Breaking Ground on New Premium Rental Development in Calgary's Beltline
24-storey tower to provide 219 rental units and ground-level retail spaces CALGARY, AB, June 12, 2025 /CNW/ - GWL Realty Advisors (GWLRA) celebrated breaking ground on a new rental tower at 1405 4th Street SW in Calgary's Beltline district. Mayor Jyoti Gondek joined the event. This 24-storey residential tower will offer 219 professionally managed rental units and a vibrant ground-level retail area, contributing to the revitalization of one of Calgary's most dynamic neighbourhoods. "This new development represents our continued commitment to building high-quality rental communities in Canada's top urban markets," said Glenn Way, President, GWL Realty Advisors. "With its prime location, premium amenities, and our long-term approach to investing, we are excited to play an active role in shaping Calgary's future and contribute to establishing the Beltline as a premier residential neighbourhood." Developed on behalf of its client, The Canada Life Assurance Company, the property will be allocated as an investment to the Canada Life participating and non-participating life insurance accounts. Construction will begin immediately and is expected to be completed within 36 months, with occupancy targeted for mid-2028. The development features nearly 6,000 sq. ft. of pedestrian oriented retail space on the ground floor, accommodating up to five commercial units, offering high-quality retail amenities for residents and the surrounding community. The new Beltline project reflects GWLRA's vision of creating boutique, hospitality-inspired rental communities in exceptional locations. Designed to maximize livability, the building will feature open-concept layouts, plenty of natural light, modern finishes, and numerous amenities, including a fitness centre, social lounge, co-working spaces, rooftop dining and pet-friendly facilities, such as a dog run and pet wash. "Projects like this show confidence in Calgary's urban core and align with our goals for density, sustainability, and vibrant, livable communities," said Mayor Jyoti Gondek. "We welcome GWL Realty Advisors' investment and look forward to seeing this new development take shape in the heart of our city." GWLRA is actively working to help address the housing shortage in major Canadian cities by managing a development pipeline that includes nearly 3,500 residential units across the country in various stages of planning, pre-development, or development. Since 2020, the company has added over 1,500 rental units in key markets, demonstrating its commitment to enhancing urban living through thoughtful development. About GWL Realty Advisors GWL Realty Advisors Inc. generates value by creating vibrant, sustainable communities that engage, excite and inspire. As a leading Canadian real estate investment advisor, we offer asset management, property management, development and specialized advisory services to pension funds and institutional clients. Our diverse portfolio includes residential, industrial, retail and office properties as well as an active pipeline of new development projects. To learn more, visit SOURCE GWL Realty Advisors View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
The BCMEA Welcomes the Ready and Rogers Industrial Inquiry Commission Report
VANCOUVER, BC, June 12, 2025 /CNW/ - The BC Maritime Employers Association (BCMEA) welcomes the federal government's Industrial Inquiry Commission (IIC) report by respected labour relations experts Vincent Ready and Amanda Rogers on longshoring labour disputes at Canada's West Coast ports. The findings and recommendations outlined in this report are thorough, balanced, and provide a clear path forward for the federal government, the BCMEA and the International Longshore and Warehouse Union — one that, if acted upon, will advance long-term stability at Canada's West Coast ports to the benefit of all parties. As Canada urgently pivots to new, more reliable trading partners and builds a single Canadian economy, our competitiveness and economic success hinge on the reliability and long-term stability of our West Coast ports. The BCMEA is committed to working constructively with the Minister of Jobs and Families Patty Hajdu and Secretary of State (Labour) John Zerucelli, our labour partners and other interested parties to realize the objectives and recommendations contained in the report, for the benefit of all Canadians. Mike LeonardPresident and CEOBC Maritime Employers Association SOURCE BC Maritime Employers Association View original content to download multimedia:
