Ontario housing recovery faces a rate-hike test in 2027
Temporary HST relief of up to $130,000 and Toronto development-charge cuts of 40% to 60% through August 2029 aim to restart activity.
For end users, the reset is an opening. “For people who actually need to buy real estate for their own use, I think that’s really the best time to get into the market,” Christine Xu, founder of Money Broker Canada, said at MortgageFest.
Sarita Free, a mortgage agent with Mortgage Powered Financial Group in Norfolk County, Ontario, sees the same shift.
“With the 30-year amortization that we can now go to, I find a lot of my buyers that have been on the sidelines are finally able to break into the market and stay in their hometown,” she said.
Desjardins projects housing starts will rise about 6% to nearly 65,000 units in 2027, still more than 30% below 2021 and 2022 levels. Norman flagged Canada-US trade tensions and Middle East-driven oil prices as key risks.
