STOREYS Year End Real Estate Series 2024

As far as Canadian real estate goes, 2024 largely followed in 2023’s tracks. The year was characterized by many of the same challenges, from crushed affordability to downcast home sales to insolvencies that ran the gamut of big projects and small.

But there was some semblance of reprieve this year that set it apart from last, with the Bank of Canada lowering its policy interest rate for the first time in the cycle in June. This ended up marking the first of five rate cuts that punctuated the latter half of 2024, sending a signal to real estate sector stakeholders that better days are not far ahead.

On top of that, the year brought a fresh sense of urgency from government when it came to housing supply and affordability. Love 'em or hate 'em, there's no arguing that housing was the issue on every policy-maker's lips. The jury's still out on whether or not that lip service will affect any real change.

As we round out 2024, the STOREYS team has taken some time to reflect on the stories that struck us, including (our takes on) the most important trends, newsmakers, issues, and policies of the year. So stay tuned!

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STOREYS Year End Real Estate Series

Join us as we look look back at the most important trends, newsmakers, issues, and policies of 2024 in our annual 'Year End' editorial series.

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Vansoho Development wants to make luxury affordable, and focuses on homes designed for live, work, and play.

The Civic District Master Plan was approved alongside a series of amendments to the Broadway Plan on December 12.

Plans from Tepfam Holdings are in keeping with the ongoing efforts to turn the Port Lands neighbourhood of Toronto into a buzzing community and housing hub.

​The masterpiece home sits at 112-116 Sunset Boulevard in Vernon, in the heart of British Columbia's Okanagan Valley.

Plans from Reserve and Westdale represent the third submission for the site since 2017, and the largest to date, with almost 900 new residential units proposed.

​Karen Yolevski will assume the role of CEO at Carson Dunlop Home Inspections come January.

​Insolvencies have been both a predominant and underlying theme across the real estate industry this year.

"The longer term 2024 forecast proved less accurate than we’d hoped, as we optimistically — but falsely — predicted government interventions would be helpful through the year. (Instead, they proved quite the opposite.)"

​The site of the City of Vancouver's proposed towers is 1402-1460 Burrard Street, 900 Pacific Street, and 1401-1461 Hornby Street near the Burrard Street Bridge.

​The policy recommendations come a year after the City of Calgary initiated a study of short-term rentals.

Spanning over 80 incredible acres, this estate offers more than a place to call home — it opens the door to a whole new lifestyle, where luxury and nature unite in perfect harmony.

​Lonsdale Square is 113-unit rental building located at 126 E 21st Street in North Vancouver that Minto Apartments developed with Darwin Construction.

The Living Group of Companies is one of the largest independent real estate organizations in the GTA. Here's how they've gotten there, and how they're thinking about the future.

“Normally we might expect this market rebound to take a pause before resuming in the spring; however, the Bank of Canada's latest 50-basis point cut together with a loosening of mortgage rules could mean a more active winter market than normal.”

Over the last twelve months, many industry professionals have shifted their focus from the embattled condo market to creating more purpose-built rentals.

Sean Fraser made the official announcement this morning at a press conference.

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The masterpiece home sits at 112-116 Sunset Boulevard in Vernon, in the heart of British Columbia's Okanagan Valley.

Karen Yolevski will assume the role of CEO at Carson Dunlop Home Inspections come January.

Insolvencies have been both a predominant and underlying theme across the real estate industry this year.

The site of the City of Vancouver's proposed towers is 1402-1460 Burrard Street, 900 Pacific Street, and 1401-1461 Hornby Street near the Burrard Street Bridge.

The policy recommendations come a year after the City of Calgary initiated a study of short-term rentals.

Lonsdale Square is 113-unit rental building located at 126 E 21st Street in North Vancouver that Minto Apartments developed with Darwin Construction.