Industry News
Impact of labour shortage on housing construction
A new report from Desjardins points to the ongoing labour shortage in the construction industry as the primary constraint holding back new housing starts.
Annual rent growth returns to longer-term average
Asking rents for purpose-built and condominium apartments in Canada rose by 4.7 per cent, marking the slowest annual rate of rent growth in nearly three years.
BC Builds announces new projects in Langley, Burnaby
Nearly 1,200 rental homes will soon be coming to middle-income individuals, seniors and families in Langley and Burnaby B.C., though the new BC Builds program.
Free multi-unit housing designs now available in B.C.
Property owners in B.C. can now access a free catalogue of standardized, customizable housing designs for small-scale, multi-unit projects.
GRESB to revise indicators for multifamily sector
Multifamily real estate entities reporting to GRESB, the global assessment and benchmark for the ESG performance of portfolios, can expect new criteria next year.
Canada launches new tool to lease federal lands for housing
The federal government has launched the Canada Public Land Bank to link builders with federally owned properties available for housing development.
Multifamily rental fundamentals likely to remain strong
Market analysis from Morningstar DBRS finds that despite economic uncertainty and labour challenges, multifamily rental fundamentals should remain strong.
Consultation eyes innovative housing production
The Canadian government is looking for input on how to scale up the pace and quantity of new housing production via innovative technologies and assembly practices,.
Real estate underperforms in pension fund mix
The real estate asset class is currently taking its turn as the underperforming piece in large Canadian pension funds' diversified mix of holdings.
Ontario updates provincial planning rules
The Ontario government released a new set of land-use planning rules for municipalities, which build on the Cutting Red Tape to Build More Homes Act.
Manitoba sets 2025 rent guideline at 1.7%
Effective January 1, 2025, Manitoba's new rent guideline has been set at 1.7 per cent, a significant decrease from the 2024 guideline.
More Nova Scotians now eligible for rent supplement
Effective August 23, low-income Nova Scotians who are spending 40% or more of their household income on rent may be eligible for a rent supplement, down from the previously required 50%.
B.C. announces 2025 allowable rent increase
The BC government has set the annual allowable rent increase for 2025 at 3 per cent, down slightly from this year’s allowable increase of 3.5 per cent.
B.C. multifamily investment activity expected to increase
Multifamily investment activity is expected to increase in Vancouver and Victoria, according to CBRE’s new 2024 Mid-Year Apartment Report.
Banking rules probe includes cheque clearance
The Canadian government is seeking public input on the current regulated timelines for banks to clear deposited cheques and release funds to payees.
Housing starts up 16% in July
Housing starts across Canada rose by 16 per cent in July driven largely by multi-unit starts, according to the latest data from CMHC.
Canada a hyper version of multifamily trends
Multifamily properties continue to be an investment favourite worldwide, with Canada perhaps demonstrating the hyper version of what’s happening in markets elsewhere.