Affordability

Housing Supply

Traffic



2025 Market Outlook

Watch these short videos and hear where the GTA housing market is headed in 2025 from TRREB’s Chief Market Analyst Jason Mercer.

TRREB Market Outlook: Rental

TRREB Market Outlook: Sales and Price

TRREB Market Outlook: Consumer Buying Intentions



2024 Year in Review

Get a glimpse of total home sales, new listings, and average prices for 2024.



Market Outlook and Consumer Intentions

Discover five things you need to know about what’s next for the housing market in 2025. Plus, find out new insights from TRREB’s latest buying and selling intentions survey conducted by Ipsos.



Solutions from TRREB Leaders and Policymakers

Click on each headshot to read solutions for housing affordability and supply issues.



Getting Our Region Moving

We are witnessing a severe congestion crisis in the Toronto region, which impacts both productivity and the economy. Ipsos conducted polling for the Toronto Region Board of Trade about the congestion problem facing the city since COVID-19.

Toronto’s congestion challenges have escalated post-COVID

A typical 30-minute weekday afternoon commute in 2019 now takes 33 minutes, indicating that the traffic levels in 2023–24 exceed pre-pandemic levels. Weekend congestion also increased with mid-day peaks now surpassing weekday morning rush hours, suggesting a change in travel patterns of residents. That’s why 86% of residents believe congestion is a significant problem. Fifty-seven per cent say there are too many cars and trucks on the road, emphasizing the overcapacity on our streets as a significant contributor to the problem.

Congestion has many implications that deeply affect the lives of Torontonians

The economic impact stands out. According to the data, congestion costs over $11 billion annually in productivity losses. The city businesses suffer from operational challenges and reduced foot traffic, as more than half of the respondents (54%) in the poll are considering relocation while 64% are reluctant to commute to work because of traffic challenges. The departure of skilled workers from the city means that we would see decreased economic growth. Eighty-five per cent of residents agree that traffic and congestion negatively impact the economy in the GTA, showing that they understand the broader economic implications.

The poll shows a staggering societal impact on GTA residents along with the economic one

Nearly a third of poll respondents (31%) report avoiding social and recreational activities due to traffic concerns. This results in mental health problems as social connections are limited. Forty-two per cent of respondents say they also avoid shopping, going out for entertainment or a sporting event and 38% say they refrain from dining out, significantly impacting the social interactions as well as the retail sector. These disruptions to daily activities pose a threat to our quality of life along with the personal inconveniences caused by traffic congestion.

Respondents would rather experience short-term inconveniences for long-term benefits

According to the poll, the respondents would rather experience short-term inconveniences for long-term benefits if it makes clearing up congested streets faster. Seventy-three per cent of respondents support 24-hour road construction and 74% support 24-hour public transit construction. On the other hand, 68% believe “too much construction at the same time and mismanagement of construction schedules” are the main reasons for congestion, suggesting frustration among residents regarding the current practices of construction projects.



Fair Taxes on Ontario Homes

Homeowners, buyers and sellers are increasingly facing financial pressure due to rising property taxes, development charges, and land transfer taxes. These financial burdens are contributing to the province’s housing affordability and supply crisis. For consumers, high taxes on housing make homeownership more difficult for both new buyers and existing owners.

TRREB’s report presents five policy recommendations aimed at addressing issues within Ontario’s tax, development charge and municipal funding frameworks. These recommendations are designed to support a strong taxation system and ensure fairness, affordability, and transparency for property owners, homebuyers, and municipalities.

Decreasing Development Charges

Development charges, taxes and fees add tens of thousands of dollars to the cost of homes in the Greater Toronto Area. The total tax and fee burden in Ontario now account for almost 36% of the price of a new home in Ontario. For an average new home constructed in Ontario priced at $1.069 million, total government taxes and fees rise to $380,000, which are passed down to new homebuyers, resulting in higher home prices, increased unaffordability and limiting viability of building more affordable stock.

Updating the Federal HST Home Rebate

Since the introduction of the Harmonized Sales Tax (HST) on new homes began, the threshold price points for the federal HST rebate on new homes have not changed from $350,000 with a maximum $6,300 rebate.

That’s why TRREB is recommending that the federal government immediately review and adjust rebate thresholds to reflect current market realities, implement indexing to ensure future adjustments align with housing price inflation, and enhance transparency to restore fairness and support affordability for new homebuyers.

Reducing the Land Transfer Tax on First-Time Homebuyers

Land transfer taxes add tens of thousands of dollars to a home purchase. The current provincial land transfer tax (LTT) rebate of $4,000 for first-time homebuyers, along with the City of Toronto’s municipal land transfer tax (MLTT) rebate of $4,475 are outdated, given the dramatic rise in home prices since it was introduced in 2008. To help ease the financial burden on first-time buyers, the province and the City of Toronto should at a minimum increase their rebates to $8,000 each and index them to inflation or take bold action and consider removing this tax completely for these buyers.

Launching a Comprehensive Review of Municipal Revenue Tools

Municipalities in Ontario rely heavily on property taxes and development charges to fund infrastructure and essential services. This over reliance on housing taxes is contributing to rising housing costs. A review of municipal revenue tools should explore ways to reduce taxes on housing – and specifically look to reduce municipal reliance on property taxes and development charges.  Municipal ratepayers are increasingly being called upon to fund social and other services, that property and education taxes were never intended to support. The review should aim to lower the tax burden on housing and support an environment for increased housing supply while also ensuring that municipalities have the resources to deliver high-quality public services to residents.

Increasing Municipal Transfers

To reduce municipalities’ reliance on property taxes and development charges, the province and the federal government should increase transfers to municipalities, particularly for infrastructure projects related to housing, transit, and climate resilience. More stable and predictable funding from the higher levels of government would allow municipalities to reduce the financial burden on residents while still making necessary investments in critical infrastructure. This would also support long-term economic growth and help address Ontario’s housing affordability crisis.



Breaking the Backlog

With more than 53,000 unresolved cases as of February 2024, Ontario’s Landlord and Tenant Board (LTB) is facing a crisis situation. Despite the efforts of the province to improve the board’s services, such as appointing additional adjudicators and increasing funding, it’s clear that reforms are needed to solve the ongoing problems.

The Ontario Ombudsman’s 2023 audit indicated the scope of LTB’s dysfunction, resulting in delays, barriers to access, and discrimination within Ontario’s housing system. TRREB’s report examines critical issues within the board and makes solid recommendations to fix these issues.

Navigating Case Resolutions

Virtual hearings were introduced as part of the LTB’s “digital first” strategy in 2020, but access to technology, reliable internet, and private spaces for virtual hearings is challenging for both tenants and landlords. Restoring in-person hearings and real-time technical support are the main recommendations to reduce delays from technical issues.

It’s also critical to create a specialized backlog reduction team focused on addressing older and urgent cases. This team can report directly to the Ministry of the Attorney General and use targeted strategies to expedite the resolution of high-priority cases while keeping the flow of new cases moving efficiently.

Operational Concerns

We’re recommending that the government provides dedicated funding to upgrade the LTB’s technology infrastructure and improve case management systems. Regular updates on system functionality to the Ministry of the Attorney General are needed. It’s key that staff also must receive proper training to handle increased volumes of cases without significant delays.

Better screening processes to prevent unnecessary terminations is also needed. The LTB should alert applicants of any missing or incorrect information within a set time frame, allowing them to make corrections before their applications are dismissed.

Improving Efficiencies

Although the LTB hired more adjudicators, the lack of proper training and reliance on part-time staff is causing efficiency problems. Improving the training process for adjudicators, assigning workloads reflecting the part-time adjudicators’ availability, and funding that meets the service demand to ensure staffing are key to addressing the issues.

We’re also calling for streamlining the appointment process and introducing reforms that ensure qualified, experienced adjudicators remain in their positions. Establishing an independent body, such as an Adjudicative Tribunals Justice Council, would ensure that appointments are based on merit and experience.

Delayed Hand-Offs

The expiry of adjudicators leads to unresolved and reassigned cases, causing even more delays. The current system of tracking member terms is inefficient and it can take up to 60 days to transfer cases to new adjudicators. This report recommends the LTB take a more proactive approach in managing the expiration of member terms, including the reassignment process earlier to avoid bottlenecks.

Internal Challenges and Delayed Justice

The province must ensure that the LTB is providing training to all staff and consider the limited time frame that part-time adjudicators can spend on LTB-specific cases when determining future funding and staffing opportunities.

Lengthy delays at the LTB prevent both landlords and tenants from receiving timely decisions on critical issues, such as evictions, rent arrears, and repairs. That’s why it’s important to enforce stricter timelines for resolving cases, particularly those related to tenancy terminations.

Discrimination and More Barriers

Discrimination against renters – especially young people, newcomers, and marginalized groups – is a well-known phenomenon in Ontario’s rental market. For this pressing issue, TRREB suggests introducing a government-subsidized guarantor program to support renters who lack a Canadian credit history or co-signer and a fairer tenant screening processes to prevent bias based on race or other factors during the application process.

Through implementing these recommendations, the Ontario government can significantly improve the operations of the LTB, reduce the backlog of cases, and ensure that all Ontarians have access to fair and timely justice in rental housing disputes.