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Toronto Family Day Delight 2024

Are you and your family ready for an action packed and unforgettable Family Day celebration in Toronto? Look no further! We have rounded up the best family-friendly, fun, outdoor and indoor activities for you to make the most of this exciting winter celebration.

Get ready to create lasting memories and explore Toronto like never before!

Kids Family Day Pizza Making Class at Eataly

Celebrate Family Day in a delightful way with the young ones in your household!

On Monday, February 19, 2024, bring your children to La Scuola di Eataly Toronto for a thrilling culinary experience. Explore the art of crafting the delectable Pizza al Padellino Margherita as a family.

Indulge in the thick and soft crust of a traditional pizza al padellino, made in small, round pans for that perfect combination of crunchiness and chewiness. The pizza making class, held from 12 p.m. to 1:30 p.m., is the perfect way to kickstart your Family Day celebration. Suitable for kids aged 4 to 13, this engaging activity allows them to explore their creativity and learn valuable kitchen skills in a friendly and supportive environment.

Tickets for this exciting event are priced at $113, admitting two guests – one adult and one child. Additional tickets cost $50, so gather the whole family for a delicious and fun-filled experience.

Beeswax Candle Making 101

Are you looking to learn a new craft that will fill your home with a delightful honey fragrance?

Join Beeswax Candle Making 101 on Saturday, February 17, 2024, at the Toronto Botanical Garden.

In this workshop, you will have the opportunity to create three unique types of beeswax candles while learning about the fascinating process of how honeybees produce beeswax. This family-friendly activity takes place from 10 a.m. to 12:00 p.m., making it a perfect outing for Family Day.

Secure your spot by easily purchasing tickets online at Eventbrite. You can choose between the TBG Member ticket for $90 plus taxes and fees or the public ticket for $100 plus taxes and fees.

Celebrate the Chinese way

The Aga Khan Museum, in partnership with the Chinese Cultural Centre of Greater Toronto, invites you to celebrate the Lunar New Year, or Chinese New Year, with a fantastic lineup of activities and performances. From February 17 to 19, 2024, immerse yourself in a vibrant and cultural experience that will bring joy and excitement to everyone in your family.

Kick off the festivities at the Aga Khan Museum with free live performances from 10 a.m to 5:30 p.m. Be mesmerized by traditional Chinese music, dance, and martial arts demonstrations that showcase the rich heritage of the culture. These performances are not only entertaining but also educational, offering a unique opportunity to learn about Chinese traditions and customs.

Family day at The Bentway

Get ready for an interactive experience that celebrates the captivating history of figure skating in Canada at The Bentway’s collaboration with the renowned Bata Shoe Museum. Inspired by their online exhibition “Boots and Blades: The Story of Canadian Figure Skating,” this event offers a unique opportunity to learn about the evolution of figure skating from the 1600s to the present.

On Monday, February 19, 2024, from 12 p.m. to 3 p.m., head to Fort York Blvd, Toronto, and join skilled instructors to decorate your own skate boot covers. Let your imagination run wild as you transform your plain skate boots into unique and eye-catching accessories. These personalized covers will not only add style to your skating experience but also make for great photo opportunities.

Aside from all the exciting activities, The Bentway offers free skating for the whole family till 9 p.m. Strap on your skates and glide across the smooth ice as you enjoy the beautiful surroundings. To keep everyone energized and refreshed, complimentary refreshments, including hot cocoa and snacks, will be provided.

Musical Extravaganza

Grab your loved ones and head to the Danforth Music Hall on Friday, February 16, 2024, or Saturday, February 17, 2024, for an exceptional musical experience with Trombone Shorty & New Orleans Avenue. This vibrant event promises to keep everyone entertained with the electrifying performance and New Orleans-inspired tunes.

Trombone Shorty, accompanied by his talented band, will deliver a night filled with infectious rhythms and high-energy performance. Tickets are available for $61 plus service fees, and the doors open at 7 p.m., allowing you to settle in and soak up the vibrant atmosphere before the show begins.

This highly anticipated event welcomes all music enthusiasts aged 19 and above. The 19+ age restriction ensures that the performance maintains an adult-friendly ambiance, allowing you to enjoy the evening to its fullest.

Superman Onboard

Prepare to be thrilled as the Toronto Symphony Orchestra presents John Williams’s Grammy Award-winning Superman score live at Roy Thomson Hall in downtown Toronto. This extraordinary event takes place on February 15th, 16th, and 17th, 2024.

Whether you are a die-hard Superman fan or simply looking for a memorable way to spend Family Day, this is a must-see event. The Toronto Symphony Orchestra aims to create an experience that is enjoyable and accessible for all ages. Parents can introduce their children to this iconic superhero in a live, interactive setting, enriching their appreciation for both music and film.

The show starts at 7:30 p.m., and ticket prices range from $95.00 to $166.00, catering to everyone’s preferences. Brace yourself for an adventure that will resonate with you long after the final note fades away.

As you embark on these family friendly adventures, soak in the joy and create memories that will last a lifetime. Toronto is your playground for this Family Day, so gear up, bring your smiles, and let the good times roll!

Wishing you and your family a fantastic and an unforgettable Family Day weekend!

Competing Public Policy Objectives

In the federal government’s Fall Economic Statement, billions of dollars were committed and reaffirmed towards increased levels of new housing construction. This includes favourable loan agreements and tax benefits for developers of purpose-built rental buildings and public housing projects, as well as financial assistance for municipalities to crack down on short-term rentals in an effort to push more supply onto the resale market in urban centres.

“It is encouraging to see policy makers tackling Canada’s housing affordability issues and supply shortfall, yet there remains a large accessibility gap for first-time buyers and middle-income earners. Those that have salaries or wages that have not kept up with the cost of living find it difficult to achieve the dream of home ownership. Thankfully, many have received financial help from family or friends, yet this is not something Canadians should have to rely upon,” said Soper. “With competing policy objectives – record-high immigration to combat labour shortages, for example – I see little hope that housing construction will meet that need this decade. The demand/supply imbalance will put further upward pressure on home prices.

“While uncomfortably expensive housing in our major markets is inevitable, it is imperative that governments adopt quick and extraordinary measures to mitigate affordability challenges and address the housing supply crisis,” concluded Soper.

https://marketing.rlpnetwork.com/Communications/2024_Royal_LePage_National_Quarterly_Forecast_Chart.pdf

Greater Toronto Area

In the Greater Toronto Area, the aggregate price of a home in the fourth quarter of 2024 is forecast to increase 6.0 per cent year over year to $1,198,012. During the same period, the median price of a single-family detached property is expected to rise 7.0 per cent to $1,481,950, while the median price of a condominium is forecast to increase 5.0 per cent to $754,845.

“There is a lot of uncertainty surrounding Canada’s economy and the real estate market these days, and that is especially true in the major centres like Toronto. What is certain is that Canadians need housing, they value home ownership and most are willing to prioritize buying a home over just about anything else,” said Karen Yolevski, chief operating officer, Royal LePage Real Estate Services Ltd. “We know there are still buyers on the sidelines waiting for interest rates to come down. What is unclear is how many can afford to jump back into the market at the first sign of a reduction, and how many truly cannot afford to transact in this environment.”

Yolevski added that a lot of future activity will be dependent not only on reduced interest rates, but the timing of mortgage renewals. Many would-be move-up buyers who have enjoyed ultra-low rates for the past few years will be willing to make a move as their current loan terms expire. No longer bound to their current property because of the interest rate, more of these owners will put their properties on the market and begin their search for a new home.

“The GTA is Canada’s most densely-populated region and continues to be the top destination for newcomers. Despite a temporary drop in sales, there remains a huge gap in the number of homes available and those needed to satisfy demand from middle-income earners. This continues to put significant pressure on the already-tight rental market.”

Yolevski also noted that investor-owned properties, namely condominiums, could add supply to the market over the next year or two, as mortgages come up for renewal and owners choose to sell rather than renew at a higher rate.

“If tenanted properties are not producing positive cash-flow, investors may choose to sell rather than renew their mortgages in this higher-cost borrowing environment. This, in addition to new legislation that incentivizes the development of purpose-built rental properties, could add some much-needed inventory to the entry-level market,” said Yolevski. “It will not be enough, however, to put downward pressure on prices.”

This content piece is a redacted version of the Royal LePage Market Survey Forecast and is meant for information purposes only. The full article can be found at https://reganteam.ca/blog/

https://www.royallepage.ca/en/realestate/news/the-great-adjustment-canadians-to-adapt-to-new-reality-as-housing-market-returns-to-near-normal-in-2024/?fbclid=IwAR2ANWgaPWg86DEd7YLhVA7iJrFbW2qOOHvcXwUTHZIJy6VV1ZLofsaABqc

Increase Your Home Value With The Top Remodelling Ideas

Are you looking to add value to your home and boost your real estate investment?

Remodelling and renovating your property can significantly increase its value, allowing you to enjoy a better return on your investment. In this article, we will explore a variety of expert ideas and tips on how you can enhance your home value through strategic improvements. Whether you’re planning to sell your home in the near future or simply want to maximize its potential, these remodelling projects will help you achieve your goals.

Enhance Your Curb Appeal

First impressions matter!

Curb appeal plays a vital role in attracting potential buyers or raising your home value. Simple enhancements like fresh exterior paint, landscaping, and an inviting front entry can drastically improve the overall appeal of your property. Consider installing outdoor lighting, a new front door, or adding a welcoming touch with beautiful flowers.

Upgrade Your Kitchen

Sprucing up your kitchen can make a big difference in your home’s vibe, especially when it comes to Real Estate in Canada and selling your place.

Go for designs that never go out of style and use high-quality materials. This way, your kitchen will stay appealing for a long time. When it comes to selling your home, having a modern and stylish kitchen can really catch the eye of potential buyers in the busy world of Canadian home sales.

Revamp Your Bathroom

When it comes to boosting your home’s value in the world of real estate in Canada and home sales, giving your bathroom a makeover is a golden ticket.

Start by upgrading your fixtures. Adding energy-efficient features not only helps the planet but also adds a modern touch that savvy homebuyers appreciate.

In addition, enhancing overall aesthetic appeal is the key. Consider some fancy additions like a walk-in shower, a freestanding bathtub, or double sinks for that touch of luxury. Ensure you have sufficient storage space for all items and adequate lighting to maintain a well-lit and presentable atmosphere.

Create functional living spaces

In the realm of real estate Canada, where home value is a crucial factor in the home investment landscape, open floor plans are highly sought after. It evokes a feeling of expansiveness and encourages social interaction, making it a desirable feature for potential buyers.

Evaluate the current layout of your home and contemplate the removal of non-load-bearing walls to craft a more open and adaptable living space. According to a recent survey, 85% populace prefer an open design between the kitchen and dining room, 79% favour an open arrangement between the family room and kitchen, and 70% like an open layout between the family room and dining room.

This strategic adjustment has the potential to boost the value of your property, positioning it as a modern and inviting living space.

Embrace Energy Efficiency

Incorporating energy-efficient features into your home not only reduces its environmental impact but also adds home value. Install energy-saving windows, insulation, and programmable thermostats to enhance energy efficiency. Solar panels, energy-efficient appliances, and LED lighting are other smart investments that potential buyers and appraisers highly value.

Increase storage options

When delving into home investment, prioritizing storage becomes the key.

Homebuyers frequently prioritize ample storage space, so consider elevating your home’s storage options. Integrate built-in shelves, walk-in closets, or innovative storage solutions to cater to this demand. Don’t overlook untapped areas like basements and attics – these can be transformed into valuable additional storage spaces. The inclusion of adequate storage not only enhances your home value but also adds to its overall appeal, making it more enticing to potential buyers.

Update Flooring and Finishes

Outdated flooring and finishes can make your home feel tired and unappealing. Consider replacing worn-out carpets with hardwood or laminate flooring, which tends to be more desirable in the real estate market. Updating light fixtures, door handles, and faucets can also create a more modern and cohesive look.

By trying out these remodelling ideas, you are not just giving your home a value boost but making it super attractive to potential buyers. Don’t forget to keep an eye on your budget, stay in the loop with local real estate trends, and match your changes with what your future homeowners would love.

With these thoughtful improvements and a dash of good design, you are on track to turning your place into a real gem of the real estate in Canada.

Port Credit: A Gem in the GTA’s Real Estate

Port Credit, once a trading post 300 years ago, it has become a leading waterfront community in the western GTA. Mississauga’s real estate landscape now features Lake Ontario as a prominent hub, where the fusion of history, culture, and waterfront lifestyle creates an enticing appeal.

A Real Estate Haven in GTA

Port Credit is becoming a popular place to live in the GTA real estate market. New reports indicate that individuals from various backgrounds, such as young professionals, families, and empty-nesters, are attracted to this region.

What makes Port Credit appealing, goes beyond just real estate housing market. It is a place for those who want a balanced and fulfilling lifestyle. Offering excellent schools, a lovely waterfront, and convenient amenities, Port Credit is establishing itself as a community for every home owner.

Lifestyle and Recreation by the Waterfront

Residing in Lake Ontario means immersing yourself in a vibrant community that attracts residents of all walks of life. The lakeside location invites outdoor enthusiasts to indulge in boating, fishing, cruises, and scenic hikes along the Waterfront Trail.

With the largest freshwater marina in Canada, Port Credit is a haven for those seeking the beauty of nature.

Commute Conveniently

For Toronto commuters, Port Credit is a dream location. The Port Credit GO station, just three blocks from the waterfront, ensures a quick 10-minute commute to the city center. It offers both urban amenities and a relaxed waterfront lifestyle for the neighbourhood.

Dining Delights of the Waterfront Community

Lake Ontario offers a variety of fantastic restaurants and pubs. From Snug Harbour with its waterfront view to Colossus with delicious Greek cuisine, the neighbourhood caters to diverse tastes.

Real Estate Landscape

The GTA housing market features a mix of historic century homes, suburban-style houses, condos, and townhomes for the lakeside neighbourhood. It strikes a balance between preserving original charm with many homes undergoing renovations and landscaping improvements.

Lake Ontario’s Real Estate Transformation

Over the past 15 years, Port Credit’s real estate has undergone an impressive transformation. Luxury high-rises and upgraded homes now cater to those seeking an urban-family lifestyle.

Despite the increased investment, the demand for Port Credit properties in the housing market and the consistent rise in property values make it a savvy choice for those seeking an exceptional quality of life.

Recent Trends in Port Credit Real Estate

In December 2023, the average home price in Port Credit reached $1.5M, showing a notable 6.8% increase from the previous year. Despite a dip in the number of homes sold, the demand remains robust, with 17% of properties selling above the asking price. By month-end, 39 homes were available for sale in Lake Ontario, marking a substantial 44.4% surge from the previous year.

Irresistible Features and Amenities

Port Credit’s allure is firmly rooted in its prime lakeside view location, enchanting atmosphere, and close-knit community. It’s walkability, combined with its proximity to the GO station and major highways, positions it as an ideal choice for commuters navigating the Toronto housing market.

Although affordable housing market may present a hurdle, Lake Ontario compensates with enticing amenities and a waterfront lifestyle. These features make Port Credit an alluring option for individuals in the GTA real estate market seeking a tranquil living experience amid the dynamic Toronto housing market.

Optimal Living in Port Credit

Choosing to live in Port Credit means enjoying a great lifestyle. It’s a hidden gem in the Toronto GTA’s waterfront real estate.

Whether you’re a young professional, a growing family, or an empty-nester, the lively community, beautiful waterfront, and rising property values in Port Credit create an incredibly appealing lakeside living experience.

Seize the Opportunity to Call Port Credit, Home

Explore the thriving real estate market, bask in the waterfront allure, and become a part of Port Credit’s community that offers an unbeatable living experience in the Greater Toronto Area.

Do not miss the chance to make lakeside view home, your happy place!

Recent trends in Canadian housing market

The Canadian housing market has been witnessing significant changes in recent years, characterized by soaring prices and affordability challenges.

Come on a journey with us, to uncover the increase in Canada home prices and how it’s affecting first-time buyers, especially in bustling cities like Toronto, Vancouver, and Montreal.

Join the adventure of exploring various regions, unraveling the mysteries of government rules, and diving into the exciting forecasts that paint a vivid picture of what lies ahead for future Canadian homeowners.

Let’s embark on this friendly exploration together!

Rising prices for the to-be home owners

Home affordability in Canada has seen a significant decline since 2020.

Families are dedicating a larger portion of their income to the housing expense due to the rise in mortgage. In just two years, there was a significant rise in mortgage from 46% to 69%, making the home ownership more challenging.

In November 2023, Canada housing market had a gentle shift in national home sales, as shared by the Canadian Real Estate Association.

The numbers showed a tiny 0.9% decrease in home sales from the previous month. Compared to November 2022, the activity for that month was 0.9% less, suggesting a steady, though slightly quieter, market.

Regional Differences in Canadian Housing Prices

Discovering homes across Canada reveals a delightful diversity in prices. Big cities like Toronto and Vancouver often show a surge in prices, while other places see more gentle, steady growth. The reason being, changes in job opportunities, more number of immigrants and the overall economic health in each community.

Friendly Government Rules and Their Impact on Homes

The Canadian government rules are turning friendly for the to-be home owners. These rules are like guides shaping the housing market. They put in place clever ideas, such as taxes and tests, to make sure everything stays fair and balanced. These rules not only keep things in check but also help slow down price growth in certain areas.

Looking into the Crystal Ball

In November 2023, the average Canada home price across the country stood at $646,134. During the same month, there were 35,013 home sales nationwide, reflecting a 16% year-over-year increase.

In Ontario, the Canada housing market grew by 1% compared to last year, with the average home price at $833,525. Yet, like the national trend, there was a 3% decrease in the Ontario housing market from the previous month.

Let’s peek into the future of Canadian homes!

It is evident that the average re-sale house price might take a little dip to about 789,000 Canadian dollars by 2024. This is like a friendly wave, marking the first-time prices might go down since 2019. In addition, according to a recent study, British Columbia might see a gentle decrease in housing price from 1.1 million to one million by 2024.

The Challenges of Home Hunting awaits Brighter Days

The Canadian housing journey has its share of challenges. The housing prices are high, and finding a home that fits the budgets can be a tougher task.

But here’s the good news. There are signs that changes, like new rules from the government and possible drops in housing prices, might be just around the corner.

These modifications could make it easier for all the families who dream of being the home owners, to find homes that not only feel like one but also fit snugly into the budgets.

2024 Home Decor Trends: A Palette of Elegance and Innovation

Are you looking to refresh your living space and stay ahead of the curve in interior trends? Look no further! In this article, we will explore the hottest colour trends that await us in 2024, providing you with inspiration and fresh home decor ideas to elevate your space.

The world of colour trends is ever-evolving, and staying up-to-date with the current home decor is essential for creating an aesthetically pleasing environment.

In this exploration of 2024’s hottest colour trends, we delve into the transformative power of Benjamin Moore Blue Nova CC-860, the cozy allure of Sunrise Hues, and the opulent charm of Regent Green 2136-20. Discover how these colours can elevate your interiors, offering inspiration and fresh ideas to revitalize your home.

Blue Nova CC-860: A Captivating Essence

2024 introduces Benjamin Moore Blue Nova CC-860 as the dominant and inspiring colour, seamlessly blending timeless elegance with a touch of futuristic allure.

Ideal for walls and ceilings, this captivating hue becomes a striking focal point on the interior design, adding sophistication and depth to any room. Here are some popular home decor ideas to consider:

Biophilic Design

Bringing the outdoors in, has become a prevalent trend in interior design. By combining Blue Nova CC-860 with natural elements, such as wooden furniture, live plants, and stone accents, you can create a space that promotes peace and serenity.

When paired with popular decor trends such as Biophilic Design, Minimalism, or Sustainable Design, Benjamin Moore Blue Nova CC-860 brings a cohesive and stylish atmosphere to your living space.

Minimalism

Minimalistic interior design focusing on clean lines, functionality, and a clutter-free environment. Blue Nova CC-860 complements this trend by adding a touch of depth and visual interest without overwhelming the space.

Sustainable Design

With environmental consciousness on the rise, sustainable design has become a prominent trend in the interior decoration. By incorporating Blue Nova CC-860 into sustainable materials like recycled glass or eco-friendly fabrics, you can contribute to a greener future while enjoying a stylish living space.

Vibrant Sunrise Hue: Warmth and Subtle

If you prefer a more subtle approach, accentuate the colour trend with Sunrise Hues through furniture and accessories. Add throw pillows in shades of pink, yellow, or deep oranges to your sofas or chairs to create a cozy and inviting atmosphere. Incorporate rugs and curtains in warm tones to tie the whole color scheme together.

To complete the look, select home decor items that complement the Sunrise Hues colour scheme. Consider adding artwork, such as paintings or prints, featuring landscapes or abstract designs in similar warm tones. Find interior decoration items like vases, candles, or tableware that incorporate hints of sunset-inspired colours to tie everything together seamlessly.

Regent Green 2136-20: Versatility

Benjamin Moore Regent Green 2136-20, a rich and deep shade of green, adds a touch of opulence to any space. Its lush undertones create a soothing ambience and evoke a sense of connection with nature. This hue effortlessly reflects the current home decor trend of bringing the outdoors inside, fostering a serene and calming environment.

One of the most remarkable aspects of Regent Green 2136-20 is its versatility. This enchanting shade seamlessly complements a variety of interior design styles, from modern and contemporary to traditional and eclectic.

Regal comfort

Introduce Benjamin Moore Regent Green 2136-20 through furniture pieces like couches, armchairs, or ottomans. These statement pieces will not only enhance your room’s color palette but also provide a cozy and inviting seating area.

Kitchen opulence

For those looking to refresh the kitchen with the perfect colour trend, consider painting your cabinets with Regent Green 2136-20. This bold choice will instantly elevate the heart of your home and create a unique, eye-catching space.

Bathroom oasis

Transform your bathroom into a luxurious retreat by incorporating Benjamin Moore Regent Green 2136-20 in your tiles, vanity, or wall paint. This sophisticated decor trend will bring a touch of spa-like serenity to your daily routines.

Implementation tips

When incorporating these colour trends, consider factors like existing furnishings, lighting conditions, and overall theme. Experiment with combinations and utilize tools for visualization.

Beyond wall paints, integrate colours through furniture, textiles, artwork, and accessories. Your home decor journey is an opportunity for creative expression, allowing you to infuse your unique style into every detail.

As you embark on your 2024 home decor journey, let the latest colour trends of Benjamin Moore breathe new life into your living spaces. Whether opting for serene tones, bold jewel hues, or playful pops of color, these trends offer inspiration to design a stylish sanctuary.

Remember, it’s an individual taste that should shine through, transforming your home into a haven you’ll truly adore. Embrace the palette of elegance and innovation, and let the unique personality flourish in your stylishly revamped living spaces!

The Interior Design Trends of 2024: How to Stay Ahead

Design is a dynamic and ever-evolving field, influenced by cultural shifts, technology advancements, and changing preferences. Staying ahead of the curve in interior decoration is crucial in maximizing popularity.

Interiors convey the tale of your life, showcasing the way you live and the things that hold significance to you. The world is ready for new designs and ideas. The focus is on making homes more comfortable, adding more colours, and using playful decorations. Whether you’re making small changes, planning a big renovation, or just redecorating a room this year, here are the top interior design trends for 2024.

Bold Minimalism

In today’s fast-paced world, an interior design that exudes clarity and simplicity can provide a refreshing oasis, free of visual clutter. Bold minimalism achieves this by using clean lines, simple shapes, and a minimal color palette.

Choosing bold and impactful fonts enhances the message you want to convey. Whether it’s a restaurant menu, a retail environment, or a workspace, the right use of interior design typography can captivate and guide the observer’s attention.

When it comes to incorporating bold minimalism into your space, it’s crucial to strike a balance. While the design trend focuses on simplicity, it doesn’t mean sacrificing personality or warmth. By thoughtfully selecting statement pieces, textures, and materials, you can infuse your space with a touch of uniqueness, creating an inviting and harmonious environment.

Suprematism style interior design of modern living room with abstract geometric colorful shapes. Created with generative AI technology.

Emphasizing Visual Storytelling

Every space has the potential to tell a story. From a cozy reading nook that transports you to far-off lands to a vibrant kitchen that energizes the senses, each room offers an opportunity to create a unique narrative. By carefully curating elements that align with your desired story, you can transform your home into a personal sanctuary that resonates with your essence.

Visual storytelling goes beyond the choice of color palettes and furniture arrangements in the interior decoration. It encompasses a holistic approach of design trend that integrates various elements, such as textures, accessories, and lighting, to create a harmonious composition. These components work together to convey a specific ambiance, evoke emotions, and communicate a thoughtful narrative.

Playful Design

Injecting fun into interior decoration, playful design elements like animated gifs, interactive content, and quirky illustrations ensure surprise and delight to the audience. Think hanging chairs in the living room, swings in the bedroom, or a slide connecting different levels of your home. These unique additions not only serve a functional purpose but also encourage a sense of playfulness and exploration. Combining functionality with fun is the essence of modern interior design.

Another aspect of playful design is the fusion of different textures and materials. Mixing and matching materials such as wood, metal, glass, and fabric give your home a visually interesting and tactile appeal.

Prominent Photography

While illustrations are prominent, the timeless power of photography is not forgotten. High-quality, prominent photography is expected to make a comeback, telling stories, evoking emotions, and leaving lasting impressions. Original photography or inventive ways to repurpose existing images will become top interior design trend, conveying authenticity and capturing attention.

Bold and Attention Grabbing

Grow Sustainable

As environmental consciousness grows, sustainable materials take center stage in interior design. From recycled furniture to eco-friendly flooring options, incorporating sustainable elements not only enhances your aesthetic but also contributes to a better planet.

Mixed Metal Accents

Say goodbye to matching metal finishes. In 2024, design enthusiasts embrace the beauty of mixed metal accents. Combining gold, silver, and bronze creates a harmonious blend of elegance and eclecticism, breathing new life into any space.

Multi-Functional Spaces

Flexibility is key in 2024’s interior design trends. Create multi-functional spaces that adapt to your needs, allowing rooms to serve multiple purposes. Convertible furniture, such as modular sofas and collapsible tables, provide clever solutions for smaller homes.

As we explore the latest top interior design trends for 2024, keep in mind the aim is to craft a space that mirrors your personality and dreams. Infuse a daring touch of simplicity, tell stories visually, embrace playful designs, consider sustainability, mix in metallic accents, and create versatile space to turn your home or work area into a sanctuary that truly reflects who you are.

Stay ahead, try out fresh ideas, and let your creativity sparkle. Have fun designing!

The ‘Great Adjustment’: Canadians to Adapt to New Reality as Housing Market Returns to Near-Normal in 2024

Royal LePage predicts minor interest rate cuts to fuel national aggregate home price increase of 5.5% year over year in fourth quarter of 2024

Highlights:

  • Nationally, single-family detached and condominium prices forecasted to increase 6.0% and 5.0%, respectively, year over year in Q4 of 2024
  • Home prices are expected to show greatest increases in second half of 2024
  • Calgary aggregate home price projected to see greatest gains of all major markets at 8.0%
  • Aggregate price of a home in the greater regions of Toronto and Montreal are forecast to end next year 6.0% and 5.0% respectively above the final quarter of 2023, while Greater Vancouver is expected to see a more modest increase of 3.0%
  • Royal LePage forecast based on expectation that Bank of Canada will hold rates steady through first half of next year, and begin modestly easing rates in late summer or fall

After years of unprecedented irregularity, Canadians may see the real estate market return closer to normal in 2024. According to the Royal LePage Market Survey Forecast, the aggregate[1] price of a home in Canada is set to increase 5.5 per cent year over year to $843,684 in the fourth quarter of 2024, with the median price of a single-family detached property and condominium projected to increase 6.0 per cent and 5.0 to $879,164 and $616,140, respectively.[2]

“Looking ahead, we see 2024 as an important tipping point for the national economy as the majority of Canadians acknowledge that the ultra-low interest rate era is dead and gone,” said Phil Soper, President and CEO, Royal LePage. “We believe that the ‘great adjustment’ to tolerable, mid-single-digit borrowing costs will have a firm grip on our collective consciousness after only modest rate cuts by the Bank of Canada.”

Home prices are expected to rise next year in all major markets across the country, with Calgary forecast to see the greatest gains. Throughout the second half of 2023, while prices have been declining in other cities, the Calgary real estate market has bucked the trend continuing on an upward price trajectory.

Royal LePage’s forecast is based on the prediction that the Bank of Canada has concluded its interest rate hike campaign and that the key lending rate will hold steady at five per cent through the first half of 2024. The central bank is expected to start making modest cuts in late summer or fall of next year. Meanwhile, several major financial institutions have already begun offering discounts on fixed-rate mortgages.

“For the last year, many Canadians have been fixated on the idea of interest rates needing to come down significantly before they can afford to enter or re-enter the housing market. Acceptance that a mortgage rate of four to five per cent is the new normal should untether pent-up demand as first-time buyers, flush with savings collected during the extended down market in housing, regain the confidence to go home shopping. And, with the return of first-timer demand, we expect families who have put off upgrading their homes to begin to list their properties in much greater numbers,” continued Soper.

How we got here

Over the last eighteen months, sales activity in most of Canada’s major real estate markets has been on the decline, while inventory levels have gradually increased. While transactions are down as much as 20 or 30 per cent in some regions, home prices have only declined modestly during this time, due to a simultaneous drop in demand as buyer hopefuls continue to hold out for lower interest rates. Still, prices remain above 2022 levels.

“Canada’s real estate market has been on a roller coaster ride for the last four years. A global pandemic briefly brought market activity to a grinding halt in early 2020, followed by a rapid, widespread spike in demand and price appreciation as Canadians sought safety and greater living space in their homes among a world of uncertainty. By the spring of 2022, home prices had reached unprecedented highs, but when interest rates started rising quickly and steeply to combat inflation, the extended market correction began,” said Soper. “Markets take time to adjust. We see a move toward typical home sale transaction levels in 2024, and as the year progresses, appreciating house prices.”

Quarterly forecast

Nationally, home prices are forecast to see modest quarterly gains in the first two quarters of 2024, with more considerable increases expected in the second half of the year, following the anticipated start of interest rate cuts by the Bank of Canada. The aggregate price of a home in Canada is forecast to be 3.3 per cent higher in Q1 of 2024 compared to the same quarter in 2023, reflecting a 0.5 per cent increase over the fourth quarter of 2023. In the second quarter of next year, the national aggregate home price is forecast to be 0.2 per cent higher year over year and 0.9 per cent above the previous quarter. In the third quarter, home prices are expected to be 3.3 per cent higher year over year and 2.3 per cent higher on a quarterly basis. And, in the fourth quarter of 2024, the national aggregate price of a home is expected to land 5.5 per cent above the same quarter in 2023, an increase of 1.7 per cent quarter over quarter. Based on this forecast, by the end of next year, home prices will have essentially climbed back to their pandemic peak, reached in the first quarter of 2022.

Supply shortage and affordability challenges

Canada continues to struggle with a chronic housing supply shortage. According to the Canada Mortgage and Housing Corporation, the country needs about 3.5 million additional housing units by 2030 to restore affordability, with the greatest need concentrated in the provinces of Ontario and British Columbia.[3] At the current pace of housing construction and considering the rate of new household formation and immigration projections, inventory will remain out of step with projected demand for years to come.

“For many years, condominiums have offered an affordable opportunity for entry onto the real estate ladder, in addition to their ‘lock and leave’ lifestyle that is typically attractive to young people. Of late, however, this segment of the market has also become out of financial reach for many in major cities like Toronto and Vancouver, where new construction cannot keep pace with growing demand. And, the elevated cost of construction materials and labour are adding additional pressure on builders,” said Soper. “What’s more, with ultra-low vacancy rates, the rental market is not the escape route many would-be buyers hope it could be, with monthly lease rates on the rise from coast to coast.”

This content piece is a redacted version of the Royal LePage Market Survey Forecast and is meant for information purposes only. The full article can be found at https://reganteam.ca/blog/

https://www.royallepage.ca/en/realestate/news/the-great-adjustment-canadians-to-adapt-to-new-reality-as-housing-market-returns-to-near-normal-in-2024/?fbclid=IwAR2ANWgaPWg86DEd7YLhVA7iJrFbW2qOOHvcXwUTHZIJy6VV1ZLofsaABqc

Bold Predictions

As we head into 2024, the state of the economy and the housing market are popular topics. Many economists believe that the central banks may have made some mistakes with their monetary policies, particularly in 2023 when interest rates were raised too high and too quickly.

It’s been a stressful 18-month-long journey of rising interest rates by the Bank of Canada, during which Canada’s key rate rose to a 20-year-high of five percent. This has put pressure on just about everything from housing to small businesses.

According to an article in Maclean’s, a whopping $900 billion worth of mortgages are set to renew in the next three years—$186 billion of which is expected to turn over in 2024. For those on a variable rate term, they can expect a sharp increase in their monthly payments.

However, there is some hope for homeowners who follow rates as a reflection of their monthly mortgage payments relative to disposable income. Thankfully, the stress test implemented by the government in previous years should help prevent mortgage defaults.

If you follow the polls, you don’t have to look too far to find bold predictions as to when rates will come down. In September, Reuters predicted a reduction to be implemented in Q2 2024. RBC thinks differently with a rate cut likely to happen in the fall. BMO has made a bold prediction that rates could be cut as much as 50 basis points by the end of the year.

The ripple effect of a higher cost to borrow money extends well past the real estate sector. Look for a decrease in consumer spending on things like travel, cars, luxury and everyday goods as well as dining out. People may choose to save their money in order to afford higher mortgage payments. This change in consumer behaviour could have an impact on the overall economy.

Over the past decade, Canada’s economy has shifted from being driven by natural resources such as pulp and paper to being heavily reliant on real estate. With one million new Canadians arriving in the country in 2023, there is a growing need for housing. Unfortunately, the existing housing supply may not be enough to meet this demand. As a result, real estate prices could rise over the long term due to the basic principle of supply and demand.

However, a crucial factor to watch is the movement of interest rates. If the Bank of Canada decides to lower the interest rates, combined with the increasing population, the real estate market could thrive in 2024 and beyond.

The decisions made by central banks regarding monetary policies in recent years may have unintended consequences for the economy and the housing market. However, the implementation of stress tests should provide some protection for homeowners. The influx of new Canadians also presents both challenges and opportunities for the real estate market, with the potential for rising prices. Ultimately, the movement of interest rates and the removal of bureaucratic obstacles will play a significant role in shaping the housing market’s future.

Exposing Corruption: How Luxury Real Estate Fuels Illicit Wealth and Evades Detection

If James Bond were a real character living in Canada, the corrupt individuals who engage in illegal activities without facing consequences may lose sleep. One common method they employ is investing in luxury properties located in highly desirable cities around the world. When deciding where to invest in real estate, they take into consideration the stability and reliability of the country’s real estate market, as well as the risks associated with getting caught in a corrupt deal. Surprisingly, these individuals are drawn to markets that lack effective anti-money laundering laws and provide anonymous ownership. Through investigations, it has become clear that real estate data is a powerful tool for uncovering potential money laundering and other criminal activities. 

Access to data such as ownership information, historical records, purchase value, and dates can help expose suspicious activities to authorities, journalists, and activists. In 2017, Transparency International released a report titled “Doors Wide Open,” which highlighted 10 key problems that allow corrupt individuals and criminals to anonymously purchase luxurious properties and conceal their stolen funds in countries like Australia, Canada, the United Kingdom, and the United States. The report shed light on the limited availability of real estate data and the lack of beneficial ownership information. Consequently, little is known about the true owners of properties and whether they were acquired with illicit funds. This remains the situation in the aforementioned markets.

In conclusion, corrupt individuals frequently turn to luxury real estate as a means to enjoy their illicit wealth while evading detection. The choice of which country to invest in depends on the stability of the real estate market, the effectiveness of anti-money laundering laws, and the guarantee of anonymity. Transparency International’s analysis of four notable property markets—Australia, Canada, the United Kingdom, and the United States—revealed the 10 main problems that facilitate corrupt transactions and enable criminals to acquire properties discreetly. Real estate data plays a crucial role in identifying potential red flags that are indicative of money laundering and other criminal activities. Unfortunately, the availability of such data, especially beneficial ownership records, remains limited in these markets. As a result, little is known about the true ownership of properties and whether they were purchased using ill-gotten gains.