Canadian Housing News
The latest news on rental markets, tenant rights, housing policy, and real estate across Canada.
Canadian Inflation Accelerates To 29-Month High, Broadens Beyond Gas
Canadians are paying a lot more across the board. Statistics Canada (StatCan) data shows the Consumer Price Index (CPI) accelerated to a multi-year high in May. Gasoline is a major driver, but with half of the basket’s major components accelerating simultaneously, the problem is much broader than one commodity. Canadian Inflation Accelerates To Highest Level […] The post Canadian Inflation Accelerates To 29-Month High, Broadens Beyond Gas appeared first on Better Dwelling.
OpenForm, Alabaster Planning 32-And 28-Storey Towers In Metrotown
Vancouver-based developers OpenForm Properties and Alabaster Homes are partnering on a two-tower project in the Metrotown neighbourhood of Burnaby, according to a rezoning application set to be considered by Council this week. The subject site of the proposal is 6470 and 6508 Silver Avenue, which is located directly across the street from Maywood Park and half a block away from Metrotown Station. Each parcel is currently occupied by an aging low-rise rental building. BC Assessment values 6470 Silver Avenue at $11,566,000 and 6508 Silver Avenue at $12,321,000, for a total assessed value of $23,887,000 dated to July 1, 2025. The properties are currently held under 5088 Investments Ltd. OpenForm Properties — the real estate arm of OpenRoad Auto Group — acquired 6470 Silver Avenue for $22,606,249 and 6508 Silver Avenue for $22,393,751 in early-2022 in a transaction brokered by Goodman Commercial and had proposed a 33-storey condo tower and a six-storey rental building. Since then, however, they have formed a joint venture with Alabaster Homes and revised the proposal. 6470 and 6508 Silver Avenue in Burnaby. (Goodman Commercial) OpenForm and Alabaster are now proposing a 32-storey tower and a 28-storey tower — each inclusive of a nine-storey podium — with a total of 784 residential units. The South Tower (6508 Silver Avenue) would be the taller of the two at 32 storeys and house 420 units split between 40 studio units, 200 one-bedroom units, 149 two-bedroom units, and 31 three-bedroom units. The North Tower (6470 Silver Avenue) would rise 28 storeys and house 364 units split between 112 studio units, 97 one-bedroom units, 128 two-bedroom units, and 27 three-bedroom units. Of the 784 residential units, 83 will be non-market rental units replacing the existing units on the site. The developers could pursue strata or rental for the remaining units, but City staff said in a planning report that the developers have indicated that they intend to pursue strata for the South
Canadian Home Prices Hit Record Highs In Most Provinces, BC & ON Drag
What housing slump? Canadian Real Estate Association (CREA) data shows prices in all but one province climbed in May. The national index tells a different story. A gap between the headline number and what’s actually happening across most of the country, deserves a much closer look. Canadian Real Estate Prices Are Moving Higher The price […] The post Canadian Home Prices Hit Record Highs In Most Provinces, BC & ON Drag appeared first on Better Dwelling.
‘Take risk’: OSFI cuts bank capital level to boost lending
Canada’s financial regulator lowered capital requirements for the country’s largest banks for the first time in three years, giving them flexibility to lend more to support a domestic push for defense spending, critical infrastructure and artificial intelligence.
Housing crisis is a driver of domestic violence and school dropouts: think tank
A Quebec think tank says the province's housing crisis is a driver of domestic violence and negatively affects school dropout rates.
Canadians Are Leaving At The Fastest Pace In 74 Years
Canadians continue to flee in record volumes, in a trend that’s picking up, not plateauing. Statistics Canada (StatCan) data shows emigration—when citizens or permanent residents move abroad—climbed again in Q1. Canadians are now leaving at the fastest pace in 74 years of records. Canadians Continue To Flee In Record Volumes Canadian emigration: Citizens and PRs […] The post Canadians Are Leaving At The Fastest Pace In 74 Years appeared first on Better Dwelling.
Luxury home sales rise in smaller Canadian markets as Toronto and Vancouver cool: RE/MAX
Edmonton, Saskatoon, Ottawa and Calgary posted some of the strongest gains in early 2026 as affordability, migration and local economic strength reshaped luxury demand.
The 6 Key Takeaways From CMHC's 2026 Mid-Year Rental Market Update
Last week, Rentals.ca published their latest rental market report, noting that the average asking rent in Canada declined by 4.7% year over year in May, marking the 20th consecutive month to see a year-over-year decline. “Since reaching a low of $1,662 in April 2021 during COVID-19, average rents have risen 22.1%, but have declined 7.8% from the high of $2,202 in May 2024,” they said. Also last week, CMHC published their 2026 Mid-Year Rental Market Update, providing a deeper look at the rental market and some of the microtrends that have taken form. Here are the key takeaways. Rising Supply and Slowing Demand Economics 101: When supply is increasing while demand is decreasing, prices come down. That’s what’s happening in the rental market, according to CMHC, with asking rents for available units continuing to decline in major markets like Toronto, Vancouver, Calgary, and Ottawa. The increased supply also means more competition for landlords, which CMHC says “increasingly rely on incentives to attract tenants, along with lowering asking rents”; also saying “market intelligence suggests these incentives have intensified over the past 6 months, reaching as high as several months of free rent.” They often also include additional incentives like discounted parking, cash bonuses, or gift cards. Higher Vacancies In New Units Not all buildings are equal, and a gap has started to form between older buildings and newer buildings, with CMHC saying “vacancies were highest in structures built after 2020 and in units located near post-secondary institutions” while “older stabilized buildings and family-sized units continue to experience tighter market conditions.” CMHC describes this as a “short-term imbalance” between supply and demand in newer — higher-priced — buildings, and that operators are reporting that newer units are taking longer — sometimes months — to rent out. Redefining Balance A balanced rental market is one where rent growth, after inflation, is near zero. Tradit
Canada’s Population Drops 230k, Temporary Resident Target Slips
Canada’s population continues to catch its breath after record growth it’s trying to tame. Statistics Canada’s (StatCan) latest population estimates show the population declined for a third consecutive quarter in Q2 2026. After record growth, the country is now shrinking at its fastest pace. However, that pullback is still just a drop in the bucket […] The post Canada’s Population Drops 230k, Temporary Resident Target Slips appeared first on Better Dwelling.
Mortgage market showing signs of life, but recovery remains fragile: Morningstar DBRS
Morningstar DBRS says housing activity is stabilizing and mortgage volumes should improve in the second half of 2026, though affordability pressures, rate uncertainty and regional weakness continue to weigh on demand.
Ontario Brokerages Required To File Finances With RECO Starting This Fall
Ontario real estate brokerages are getting a new piece of homework, courtesy of their regulator. Starting October 1, 2026, every brokerage in the province will have to attest to and submit an annual financial filing to the Real Estate Council of Ontario (RECO) — a requirement meant to give RECO a clearer, more consistent look at how brokerages manage money, and specifically the funds they're holding in trust on behalf of buyers and sellers. The filing sits alongside RECO's existing audit and inspections framework, and is described as a "proactive oversight model." Brokerages will need to regularly produce documentation proving they're managing their finances properly and complying with the Trust in Real Estate Services Act, 2002. RECO plans to use that data to steer its own resources, focusing attention on the brokerages where the risk to consumers is highest. "Ontarians buying or selling a home should have complete confidence that deposits are protected," said Stephen Crawford, Ontario's Minister of Public and Business Service Delivery and Procurement, framing the change as part of the government's broader push on consumer protection. So what exactly does a brokerage have to hand over? Information from its financial statements, details on trust assets and liabilities, a record of any unclaimed trust monies it's sitting on, and a compliance attestation from the broker of record. All of it gets submitted through RECO's MyWeb portal. "These changes will help RECO spot red flags earlier, intervene rapidly, and take timely and effective regulatory action where consumer funds and commissions are at risk," said Jean Lépine, RECO's Administrator and Acting CEO. RECO says brokerages won't be left to figure this out alone. Detailed information, instructional videos, and other resources are headed to every brokerage in the coming weeks, with more available on RECO's website. Further, RECO plans to introduce monthly trust reconciliation reporting in 2027, with more guidance to
Canadian Real Estate Just Flashed A Sign Not Seen Since The 90s Crash
Canada’s housing slump is officially over—in the opinion of a small share of buyers, apparently. The rest of Canada? Nah. Canadian Real Estate Association (CREA) data shows home prices climbed in May. Sales and new listings both fell, delivering a slightly tighter market than last year. However, the demand balance remains at a level not […] The post Canadian Real Estate Just Flashed A Sign Not Seen Since The 90s Crash appeared first on Better Dwelling.