Explore every episode of the podcast Canada’s Entrepreneur

Maureen Codispodi, founder and director of Help Clinic Canada, is a force of change in the landscape of mental health support in Canada. As a seasoned mental health and education professional, she is committed to breaking down barriers to mental health services and, with the support of her team, is making an impact in the lives of Canadians.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

With over 20 years of insurance industry experience, Andrew Clark is President and CEO of ALIGNED Insurance, a growing brokerage that is aligned with the interests and needs of Canadian businesses. Andrew founded ALIGNED Insurance in 2014 with a vision to create a different kind of brokerage, one that is driven by innovation, education, and customer service. Through a unique approach and a dedicated team of professional he has built a highly successful venture. Andrew has been named one of Canada's Top 10 Under 40, Top 30 Elite Insurance Brokers, and a Company To Watch.

Andrew is also a passionate skier and Alpine Canada coach.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Ryan Walker is CEO and Managing Partner of Central Station, an independent creative agency based in Toronto. Central Station has been at the forefront of blending experiential marketing, digital innovation, and AI-driven strategies for top global brands like Spin Master, Nike, and Dior.

Ryan brings a unique perspective to the conversation around disruption in marketing. With a background in engineering and over 20 years in the creative industry, he's led Central Station in revolutionizing how brands engage with consumers through immersive, tech-forward experiences.

Ryan will give us insights into how technology is transforming the way brands build relationships with consumers and how agencies like Central Station are pushing the boundaries of marketing in the digital age.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Tomas Romero is the co-founder of Romero Distilling Co. The largest rum producer in Canada making rum from scratch. Their product portfolio is comprised of international award-winning rums and pre-mixed cocktails. The rum is crafted in Calgary, AB with glacier fed water from the Canadian Rockies and Crosbys molasses.

Tomas along with his Dad, Diego Romero, started Romero Distilling Co. in 2018. Prior to starting the distillery, Tomas worked in both Construction and Oil and Gas. He has a B.Sc. from the University of Calgary and an MBA from Athabasca University. With products currently sold in Canada, the US and Europe, he looks forward to expanding their product portfolio with unique cask expressions and growing the company’s presence both domestically and abroad.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Ontario-based Zameer Rizvi is the Founder & CEO of Odesso and has a great entrepreneurial story.

Zameer has two decades of institutional and professional experience with notable companies such as Amazon, VMware, Amgen, Citrix, and Blackberry.

Patient care has been deeply neglected as healthcare systems are overburdened and underfunded. Zameer recognized this in and realized he had to do something and so he launched Odesso in 2017. Odesso helps healthcare providers shift focus back to the patient by alleviating operational challenges. The company powers some of the most notable players in North America’s healthcare industry today. Odesso helps healthcare providers shift focus back to the patient by alleviating operational challenges. The company powers some of the most notable players in North America’s healthcare industry today.

He’d love to share his journey, why he started the company, where it’s at and how it’s helping solve one of North America’s biggest health challenges today.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

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Nick Ross, Co-Founder and Acting CEO of Home Spritz, is a dynamic leader with more than a decade of software development experience. A self-professed tech enthusiast, Nick has honed his expertise in team leadership and contributed to reputable FinTech companies. His entrepreneurial drive is evident in his track record of product development across startups and established enterprises.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

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Megan Szanik is the owner, visionary, creator and proprietor of espy. With a career spanning more than 20 years in all realms of the fashion industry she has truly lived every fashionista’s dream. Megan’s vivacious and bold energy is hard to miss and she definitely knows how to make an entrance. Her ultimate desire alongside her team of professional stylists is to show you how amazing you look, and to make you truly feel your best, one styled outfit at a time. Standing at the helm of a multi-million dollar independently owned business, Megan and the stylish espy team have to date raised more than $500,000 for charitable causes close to their hearts, racked up thousands of followers on their social platforms, and proudly sold more than 60,000 pairs of jeans to their adoring retail fans.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Mind Meld PR, a Vancouver-based public relations agency specializing in securing media coverage for tech companies. Before establishing Mind Meld PR, Jonathon built his career as a journalist, primarily covering business and technology topics. He also held various marketing and communications roles within the tech sector, further honing his expertise.

On social media, Jonathon frequently shares valuable tips for companies aiming to secure news coverage, paired with insightful and feisty commentary on the media industry and current events.

A storyteller at heart, Jonathon leads a talented team dedicated to delivering impactful results. While his team operates globally, Jonathon is based in downtown Vancouver, British Columbia, at the heart of the west coast's thriving tech hub.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Phil Bliss, Founder of Canada’s Podcast interviews Clive Kinross after receiving the Award November 26, 2024.

EY Entrepreneur Of The Year National Award winners:

Tobyn Sowden | Redbrick (Pacific)

Denis Jones | Deveraux Group of Companies (Prairies)

Clive Kinross | Propel Holdings (Ontario)

Hakan Uluer | The Bertossi Group (Atlantic)

Ken Harris | Plusgrade (Québec)

National Honouree Citations:

Jeff Dirks | KBL Environmental Ltd.

Terry Raymond | Fire & Flood Emergency Services Ltd. 

Mina Mekhail | Freshr Sustainable Technologies Inc.

The Canadian entrepreneurs in the EY Entrepreneurial Winning Women™ North America Class of 2024 and the EY Entrepreneurs Access Network Canadian Class of 2024 were also honoured at the awards show. These programs support high-potential women entrepreneurs and Black and Indigenous leaders by providing access to networks, advisors, learning and resources to help scale their businesses. All three entrepreneur programs are part of EY’s 30-year commitment to fostering entrepreneurship in Canada at every stage of the growth journey.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

Phil Bliss, Founder of Canada’s Podcast interviews Denis Jones after receiving the Award November 26, 2024.

EY Entrepreneur Of The Year National Award winners:

Tobyn Sowden | Redbrick (Pacific)

Denis Jones | Deveraux Group of Companies (Prairies)

Clive Kinross | Propel Holdings (Ontario)

Hakan Uluer | The Bertossi Group (Atlantic)

Ken Harris | Plusgrade (Québec)

National Honouree Citations:

Jeff Dirks | KBL Environmental Ltd.

Terry Raymond | Fire & Flood Emergency Services Ltd. 

Mina Mekhail | Freshr Sustainable Technologies Inc.

The Canadian entrepreneurs in the EY Entrepreneurial Winning Women™ North America Class of 2024 and the EY Entrepreneurs Access Network Canadian Class of 2024 were also honoured at the awards show. These programs support high-potential women entrepreneurs and Black and Indigenous leaders by providing access to networks, advisors, learning and resources to help scale their businesses. All three entrepreneur programs are part of EY’s 30-year commitment to fostering entrepreneurship in Canada at every stage of the growth journey.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

Phil Bliss, Founder of Canada’s Podcast interviews Hakan Uluer after receiving the Award November 26, 2024.

EY Entrepreneur Of The Year National Award winners:

Tobyn Sowden | Redbrick (Pacific)

Denis Jones | Deveraux Group of Companies (Prairies)

Clive Kinross | Propel Holdings (Ontario)

Hakan Uluer | The Bertossi Group (Atlantic)

Ken Harris | Plusgrade (Québec)

National Honouree Citations:

Jeff Dirks | KBL Environmental Ltd.

Terry Raymond | Fire & Flood Emergency Services Ltd. 

Mina Mekhail | Freshr Sustainable Technologies Inc.

The Canadian entrepreneurs in the EY Entrepreneurial Winning Women™ North America Class of 2024 and the EY Entrepreneurs Access Network Canadian Class of 2024 were also honoured at the awards show. These programs support high-potential women entrepreneurs and Black and Indigenous leaders by providing access to networks, advisors, learning and resources to help scale their businesses. All three entrepreneur programs are part of EY’s 30-year commitment to fostering entrepreneurship in Canada at every stage of the growth journey.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

Phil Bliss, Founder of Canada’s Podcast interviews Tobyn Sowden after receiving the Award November 26, 2024.

EY Entrepreneur Of The Year National Award winners:

Tobyn Sowden | Redbrick (Pacific)

Denis Jones | Deveraux Group of Companies (Prairies)

Clive Kinross | Propel Holdings (Ontario)

Hakan Uluer | The Bertossi Group (Atlantic)

Ken Harris | Plusgrade (Québec)

National Honouree Citations:

Jeff Dirks | KBL Environmental Ltd.

Terry Raymond | Fire & Flood Emergency Services Ltd. 

Mina Mekhail | Freshr Sustainable Technologies Inc.

The Canadian entrepreneurs in the EY Entrepreneurial Winning Women™ North America Class of 2024 and the EY Entrepreneurs Access Network Canadian Class of 2024 were also honoured at the awards show. These programs support high-potential women entrepreneurs and Black and Indigenous leaders by providing access to networks, advisors, learning and resources to help scale their businesses. All three entrepreneur programs are part of EY’s 30-year commitment to fostering entrepreneurship in Canada at every stage of the growth journey.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

Lisa "Longball" Vlooswyk Founder & CEO at LisaLongball.com

Lisa is an 8-Time Canadian Long Drive Champion, and has finished as high as 2 nd in the World. Lisa competed on the Golf Channel’s World Long Drive Association Tour and competed at 18 World Long Drive Championships. She is an LDA Tour Champion and Callaway Golf sponsored athlete. Lisa was the first woman to ever hit it the length of 3 ½ NFL football fields in competition. Lisa won Golfweek Magazine’s Golf Fest Entertainer of the Year award. In addition to her competitive career, Lisa is a Golf Journalist for several publications including Inside Golf Magazine and has had her own column in Golf Digest Canada. Lisa uses her vast experience as a World Class athlete to be a successful keynote Peak Performance Speaker at Conferences and Conventions, is a Golf Entertainer for many Corporate/Charity Golf Tournaments across North America including PGA Tour and Champions Tour events and runs her own Golf School for Women both in Canada and the United States.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Welcome to FuturVille – Your Hub for Healthy Longevity and Sustainable Living

Who Are We? We are a for-profit company building a network of healthy longevity villages that plans to be in business for 100+ years where each of our stakeholders – residents, visitors, shareholders – will add minimum 10+ healthy years onto their life by actively up-leveling their quality of life, contribute and grow in a collective economy, and live, work and play in purpose-driven communities. 

Our Vision Everyone lives in vibrant villages, thriving with health and vitality, reaching age 100+ free from disease, embracing technology for good, and achieving remarkable environmental, social, and governance achievements, and measurable sustainable development goals.

Our Mission By 2035, develop, promote, and connect 1 million residents and 20 million visitors to healthy longevity experiences across 4,000 villages.

Website: https://futurville.com | Phone: 250-713-9409 | Email: alive@futurville.com https://www.youtube.com/ @futurville   https://www.instagram.com/futurville_ex/ https://x.com/FuturVille_eX https://www.facebook.com/FuturVille.Ex

DISCLAIMER This media is intended to inform Canada's Podcast audiences about development and engagement opportunities with VulcanVille, Canada's first Healthy Longevity Village in Alberta. Any interaction with Angela Faye, FuturVille, or affiliates is at the audience's discretion. The content is strictly promotional and does not represent an offer or solicitation.

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Stay Connected with #CanadasPodcast!

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At the award ceremony hosted at The Royal Conservatory of Music, four National Award winners were also recognized, along with three National honouree recipients. Next up, Harris will represent Canada on the global stage, competing against winners from more than 50 other countries for the title of EY World Entrepreneur Of The Year™ in Monaco in June 2025. Phil Bliss, Founder of Canada’s Podcast interviews Ken Harris after receiving the Award November 26, 2024.

Ken Harris, CEO and founder of Plusgrade — an ancillary revenue solution for the global travel industry — is Canada’s EY Entrepreneur Of The Year® 2024.

After initially receiving the provincial title on October 9, Harris was honoured at the awards show in Toronto on Wednesday night. He was selected by an independent panel of judges for his business being rooted in global transformation and innovation and his dedication to enhancing customer experiences, said EY in a news release.

“Ken’s journey is a testament to the power of innovation and perseverance. His leadership at Plusgrade has revolutionized the way travel companies approach ancillary revenue, creating new opportunities for growth and enhancing the overall travel experience for millions of passengers,” says Rachel Rodrigues, EY Entrepreneur Of The Year® Canada Program Director. “His proactive approach to addressing industry challenges and dedication to inclusivity have set a new standard for entrepreneurial excellence in Canada.”

EY said Harris’ journey began with a simple observation during his travels: the potential to monetize empty premium seats. Now partnering with over 200 companies across airlines, hotels, cruises and railways in 60 countries, Plusgrade’s innovative solutions have changed how travel operators generate additional revenue while enhancing customer experiences. The company’s strategic growth includes the acquisition of Points, a global leader in loyalty commerce, and UpStay, a provider of upgrade and ancillary revenue solutions for the hospitality industry.

At the award ceremony hosted at The Royal Conservatory of Music, four National Award winners were also recognized, along with three National honouree recipients. Next up, Harris will represent Canada on the global stage, competing against winners from more than 50 other countries for the title of EY World Entrepreneur Of The Year™ in Monaco in June 2025.

EY Entrepreneur Of The Year National Award winners:

Tobyn Sowden | Redbrick (Pacific)

Denis Jones | Deveraux Group of Companies (Prairies)

Clive Kinross | Propel Holdings (Ontario)

Hakan Uluer | The Bertossi Group (Atlantic)

Ken Harris | Plusgrade (Québec)

National Honouree Citations:

Jeff Dirks | KBL Environmental Ltd.

Terry Raymond | Fire & Flood Emergency Services Ltd. 

Mina Mekhail | Freshr Sustainable Technologies Inc.

The Canadian entrepreneurs in the EY Entrepreneurial Winning Women™ North America Class of 2024 and the EY Entrepreneurs Access Network Canadian Class of 2024 were also honoured at the awards show. These programs support high-potential women entrepreneurs and Black and Indigenous leaders by providing access to networks, advisors, learning and resources to help scale their businesses. All three entrepreneur programs are part of EY’s 30-year commitment to fostering entrepreneurship in Canada at every stage of the growth journey.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

The 2024 National independent judging panel comprised Tania Clarke, Corporate Director; Andreea Crisan, President and CEO, ANDY Transport; Arlene Dickinson, General Partner, District Ventures Capital; Joanna Griffiths, Founder and President, Knix and Kt by Knix; Ashif Mawji, Managing Director, ScaleGood Fund LP; Kristi Miller, Managing Partner, Krystal Growth Partners; Imran Siddiqui, Managing Director, Ontario Teachers’ Pension Plan.

This year’s program national sponsors are TSX Inc., Air Canada, The Printing House, The Globe and Mail and Hillberg & Berk.

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.

#business #smallbusiness #EntrepreneurOfTheYear2024 #CanadasNumber1PodcastforEntreprenuers

Holly Singer is the founder and CEO of Milk Jar, an inclusive candle company that creates job opportunities for people with and without disabilities. Milk Jar also supports inclusive spaces by donating $1 from the sale of every product to organizations that support people with disabilities to learn and grow and initiatives that create inviting spaces. In 8 years, Milk Jar has raised over $350,000 for programs worldwide, from Alberta to Ontario to the U.S. and the U.K! All areas where Milk Jar purchases come from so we can support our customer's communities to be more inviting. Holly says her employees give Milk Jar a greater purpose and a positive work culture that she will be sharing with you today.

Holly plans to expand inclusive hiring in Calgary by starting a conversation around the benefits of an inclusive workplace and by connecting businesses to service providers and employees to support their inclusive hiring practices and create more inviting spaces.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Colette Hamon grew up as a farm girl in an all-French-speaking town. Those days, her world revolved around wheat farming and the Catholic Church. Entrepreneurship, business growth, love, intimacy, gender roles, psychology – none of them were topics orbiting in her universe. After moving to the "big city" and earning her MBA, Hamon worked her way up the corporate ladder and saw success. But none of it fueled her fire. She founded BraTopia after recognizing a gap: the "big players" who dominated the lingerie industry were creating spaces that were not fit for the modern woman. They created discomfort, whereas Hamon wanted to promote self-acceptance and self-love. None of the brands served the woman she was or the woman she wanted her daughter to be. She has three children, two dogs, and no lack of interesting stories with regards to her life's adventures.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Traci Bateman's journey into wellness began at the age of 14, following the loss of her mother to breast cancer. This experience sparked a lifelong passion for living fully and helping others do the same. Traci pursued a degree in Economics from the University of Calgary, later studying Interior Architecture and Design at the Academy of Art University in San Francisco. She has since become a certified Health and Life Coach, as well as a certified menopause coach.

Traci’s approach to life is driven by the belief in living fully, loving deeply, and embracing change. She has rebranded herself multiple times, from owning businesses in marketing and interior design to founding Bliss MediSpa & Integrated Wellness in 2012, a resort-style spa that combines wellness with rejuvenation. Her career is marked by a commitment to helping others achieve their best selves through her extensive knowledge, personal experiences, and ability to connect deeply with those she supports.

Traci’s work is rooted in a lifelong pursuit of healing the mind, body, and soul. Her journey has equipped her with the tools and insights to guide others toward a life of balance, fulfillment, and well-being.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Cynthia Daoust conjugue un BACC en animation et gestion culturelle à son expérience d’entrepreneure en production d’événements à son compte depuis plus de 30 ans. Elle a conçu, de toutes pièces, plus de 500 événements clé en main dans sa carrière et a géré des événements d’envergure nationale, des événements d’affaires internationales et des événements grand public. Elle a fondée en 2003 Sphéria Événements, une firme d'expertise en production d’événements corporatif clé en main sur mesure. Et, elle est productrice de ses propres événements-maison Les Bals de Noël Sphéria des PME qui font fureur depuis 2007.   Aussi auteure du livre Sortie du Bois, un guide de stratégies clés, de questions concrètes et de méthodes éprouvées qui non seulement peuvent aider une personne à se sortir d’un tourbillon dépressif, mais aussi réduire les chances de revivre un épisode aussi dramatique.

👉 Subscribe to our YouTube channel for full episodes: https://www.youtube.com/c/canadaspodcast 🌐 Explore more on our website: https://canadaspodcast.com 📸 Follow behind-the-scenes on Instagram: https://www.instagram.com/canadaspodcast 👍 Stay in the loop on Facebook: https://www.facebook.com/canadaspodcast 🐦 Join the conversation on Twitter: https://twitter.com/canadaspodcast 💼 Connect with us on LinkedIn: https://www.linkedin.com/company/canadas-podcast

💡 Want exclusive updates on the latest #entrepreneur podcasts and news? Make sure to subscribe and never miss a beat! Your support helps us continue bringing you the best stories from Canada’s top business leaders.

Zahir Rajani is the visionary entrepreneur behind The Sartorial Shop, a rapidly growing men's luxury garment brand. The Sartorial Shop, originally a family-owned business that first opened in 1984 in New Westminster, British Columbia, has been transformed under Zahir's leadership. After the store closed in 2010, Zahir re-opened it last year, with a fresh new direction and modern approach, in New Westminster’s historic downtown. In June of this year, Zahir rebranded the business to The Sartorial Shop, relocating the flagship atelier to Vancouver’s vibrant downtown.

Under Zahir’s guidance, the brand has quickly expanded from a local presence in Vancouver to a North American powerhouse. The Sartorial Shop has also secured partnerships with some of the most prestigious fabric mills in the UK and EU. Notably, it is the only Canadian company offering the Florentine Cut, an exceptional suit style made exclusively in Florence, Italy.

Prior to founding The Sartorial Shop, Zahir spent over two decades in senior executive roles. As Senior Vice President of Commercial Lending at the Onni Group, he was responsible for driving over $200 million in annual revenue. He has also held high-level positions at Redstone, showcasing his expertise in financial strategy and leadership.

Today, Zahir is passionate about sharing his entrepreneurial journey and inspiring others to pursue their passions. Through his story, he hopes to motivate others to take bold steps toward their dreams, just as he did when he made the leap from a corporate career to revive his family’s legacy in the world of men’s fashion.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Dr. Stephanie Willerth is a Professor of Biomedical Engineering at the University of Victoria and an international leader in biomaterials and tissue engineering. She founded the award-winning biotechnology spin off company – Axolotl Biosciences in March 2020. The company sells bioinks for printing human tissues.

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With Financial Literacy Month in November, non-profit Business Link, in partnership with Nail The Numbers, is launching the Cashflow Canvas – a FREE program designed to address financial management challenges, a key factor in the failure of 71% of small businesses.

As entrepreneurs face increasing pressure in today’s economy, the Cashflow Canvas simplifies financial concepts, offering essential tools for personal and business financial success. The program begins with a free Financial Wake-Up Call webinar on November 20th, which will guide participants through common financial pitfalls and strategies to manage debt, cash flow, and growth.

In this video, Taunya Woods Richardson, creator of the Cashflow Canvas, discusses how financial literacy can be the difference between success and failure.

Anyone interested in the webinar must sign up by the November 19 deadline. More information can be found at: businesslink.ca/programs/cash-flow-canvas-program.

#business #smallbusiness #entrepreneurs #debt #finances #entrepreneurship 

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

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Embarking on a remarkable journey in the realm of B2B along with B2C sales and marketing, Tony Scaffeo has dedicated more than 30 years to mastering the intricacies of sales processes, training, and management.

His career, marked by significant milestones, began with a stellar performance at Soundsaround Inc., a prominent consumer electronics retail chain based in Calgary.

As Vice President Tony distinguished himself as a top-notch revenue generator, outperforming competitors across Canada and significantly contributing to Soundsaround's growth witnessed an exponential increase in annual sales, soaring from $5 million to a staggering $50 million.

Tony's innovative approach led to the creation of the iconic "12-hour Liquidation Sale," a landmark event in Canadian retail history.

This event alone generated a breathtaking $4 million in sales from a single location in just one day, setting a national record.

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As a former semi-professional soccer player, Sian Flanagan transferred her will power and foundation into becoming a multi-passionate entrepreneur, but not before hitting rock bottom first. Through a resilient story of grace, she went on to discover her true gifts and transform the lives of others. She believes "if you have a gift, it is meant to be given."

Today, she helps multi-passionate coaches to detox anxiety and embody confidence in their life, body and soul-driven business with joy at The Business of You Coaching. As a multi-passionate entrepreneur, Sian wears multiple hats as the founder/coach of The Vibrant Living Way Method, poet/performer, #1 bestselling author, inspirational speaker and international award-winning short film director. She lives in Vancouver and Kelowna BC.

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Graeme Barlow is CEO of Iversoft. He’s co-founded 4 companies, including a digital currency company in the early 2000s that was later acquired by WoWMine in 2006. In 2010, he co-founded RocketOwl Inc, a social gaming company that achieved significant growth on Facebook and was ultimately acquired by Keshet Technologies in 2014. In 2014, he co-founded ProPetSoftware, an industry-leading business management platform for the pet industry. Today ProPet Software remains privately held and is one of the leading solutions serving over 5 million customers. In 2016 he joined Iversoft to help build a world-class software development agency that specializes in mobile and emerging technologies. Since joining the company they have moved from $500k in annual services revenue to generating more than $45 Million in lifetime services revenue. As a serial entrepreneur for two decades, his ventures have spanned multiple industries, employing hundreds of people globally, and garnering multi-seven-figure annual revenues. Graeme is also a seasoned investor and advisor, with a presence in business publications such as Business Insider, Venture Beat, and more.

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Royal LePage has released its Q3 Home Price Update and Market Forecast.

In this video interview, Phil Soper, President and CEO of Royal LePage, discusses the state of house prices in Canada, demand in the market, inventory levels and what to expect in the future.

PRESS RELEASE TORONTO, Oct. 10, 2024 /CNW/ – According to the Royal LePage House Price Survey released today, the aggregate1 price of a home in Canada increased 1.6 per cent year over year to $815,500 in the third quarter of 2024. On a quarter-over-quarter basis, however, the national aggregate home price decreased 1.1 per cent, following sluggish activity in most – though not all – markets through the summer months. Coast to coast, sales volumes began to pick up in September, and more than one third (38%) of regional markets covered in the report recorded positive aggregate price gains in the third quarter over the previous quarter.

“Despite three cuts to the Bank of Canada’s overnight lending rate, buyer demand nationally remains weak, particularly among two key groups: first-time homebuyers and small investors,” said Phil Soper, president and chief executive officer, Royal LePage. “First-time buyers, who are more sensitive to interest rates, are adopting a wait-and-see attitude. With home prices essentially flat and interest rates steadily declining, they perceive no penalty in postponing their purchase.

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1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build.

“Similarly, small investors who typically buy condominiums to rent out and supply much of Canada’s rental housing, are also hesitant. Elevated rates have made the financials unworkable, with carrying costs surpassing rental income. While historically some landlords accept negative cash flow temporarily when properties are appreciating in value, the current flat prices do not justify many investments,” said Soper. “We believe that both groups will re-enter the market in significant numbers as property values begin to rise again. With further rate cuts from the Bank of Canada likely this year, we anticipate prices will appreciate more quickly, eliminating the advantages of waiting for first-time buyers and making calculations more favourable for investors.

“Total listings on royallepage.ca, Canada’s most visited real estate company website, reached a historical high in September, up 19 per cent year over year,” continued Soper. “Clearly, existing homeowners are ready to move. And, all buyers have more choice and less competition than is typical in our growing nation. The market recovery is underway and will continue to gain strength into 2025.”

The Royal LePage National House Price Composite is compiled from proprietary property data nationally and regionally in 64 of the nation’s largest real estate markets. When broken out by housing type, the national median price of a single-family detached home increased 2.0 per cent year over year to $850,400, while the median price of a condominium increased 0.5 per cent year over year to $590,200. On a quarter-over-quarter basis, the median price of a single-family detached home decreased modestly by 1.2 per cent, while the median price of a condominium decreased 1.1 per cent. Price data, which includes both resale and new build, is provided by RPS Real Property Solutions, a leading Canadian real estate valuation company.

“With rates dropping, we see positive signs for sidelined buyers. As confidence grows and buyers anticipate rising prices, we expect a significant increase in activity. Given the building demand – both organic and from immigration – the 2025 spring market may start as early as late January or early February, a pull-ahead phenomenon we’ve seen in previous market turnarounds. The stage is set for a busy year ahead.”

New lending rules will ease affordability challenges and unlock opportunity for homebuyers

In recent weeks, a series of new regulations impacting mortgages and lending practices in Canada were announced. Starting on December 15th, all purchasers of new construction homes and all first-time buyers will be able to acquire an insured mortgage with a 30-year amortization period.2 In addition, the federal government announced an increase to the insured mortgage cap from $1 million to $1.5 million.

______________________________

2 Federal government announces landmark adjustments to mortgage rules for first-time buyers in Canada, September 17, 2024

Following the announcement of these changes, the Office of the Superintendent of Financial Institutions (OSFI) revealed that, beginning November 21st, it will eliminate the mortgage stress test for uninsured borrowers who plan to switch lenders upon renewing their loan, provided they maintain the same amortization schedule and loan amount.3

“These changes will have more impact on the early 2025 market than many anticipate. Expect a material bump in activity,” said Soper. “In addition to assisting first-time buyers, raising the cap on insured mortgages expands opportunities for move-up buyers in higher-priced markets, thereby freeing up inventory for new homeowners entering the market.

“While these updated mortgage rules are a timely strategy to alleviate some affordability pressure, they are not a silver bullet for the fundamental issue that persists: Canada urgently needs more housing supply. Continued efforts to boost inventory are essential for fostering a sustainable and healthy real estate market for future generations.”

According to a recent Royal LePage survey, conducted by Hill & Knowlton,4 84 per cent of Canadians belonging to the adult generation Z and young millennial cohort – those aged 18 to 38 – believe that home ownership is a worthwhile investment. Among those who do not currently own a home, 75 per cent say they are planning to purchase a property as a primary residence; nearly half (40%) of them say they plan to do so within the next five to ten years.

In the report, Soper noted: “The youngest cohort of homebuyers in Canada have no shortage of barriers on their path to ownership. Though the cost of borrowing has begun to come down, chronic supply shortages have kept housing prices from dropping, even as demand softened under the weight of high interest rates. Despite these hurdles, the next generation of homebuyers remains committed to their pursuit of owning real estate, and are remarkably optimistic that they can make their dream a reality.”

According to The Conference Board of Canada’s latest report,5 consumer confidence is on the rise. In September, the Index of Consumer Confidence increased 3.3 per cent over the previous month, reaching its highest level in over a year. Furthermore, the percentage of Canadians who believe now is a good time to make a major purchase rose.

Loans renewing at higher rates

Even as interest rates soften, millions of Canadians who secured fixed-rate mortgages in the period of ultra-low borrowing conditions prior to March of 2022, have seen their monthly carrying costs increase upon renewal, or they will soon.

_________________________________

3 OSFI to drop mortgage stress test for uninsured borrowers who switch lenders at renewal, October 3, 2024

4 Gen Zs and young millennials still believe in home ownership, and they’re willing to make sacrifices to achieve it, August 22, 2024

5 Canadian Consumers are Regaining Confidence, September 25, 2024

“The Bank of Canada will not be able to cut rates quickly or deeply enough to take away all of the renewal pain for those still on pandemic-era, low-rate mortgages,” noted Soper. “While a small percentage of these families may be forced to relocate to more affordable regions or to a less expensive property, the majority of Canadians are well-positioned to weather this situation, thanks to the strict lending practices and safeguards implemented by our highly-regulated financial institutions.”

Currently, the Bank of Canada’s key lending rate sits at 4.25 per cent.6 The central bank’s governing council has hinted at further rate cuts to come, noting that they are working to balance the risk of stimulating economic growth – specifically inflating shelter prices – with the possibility of weakening labour markets.7 The next interest rate announcement is scheduled for October 23rd.

Regional trends vary from coast to coast

As was true of the pandemic-era real estate boom, the recovery is not unravelling evenly. Just as two of Canada’s largest and most expensive markets reached higher highs and lower lows between 2020 and 2023, Toronto and Vancouver are now lagging behind in the recovery as well. Meanwhile, regional markets in the province of Quebec and in the Prairies have shown greater resilience through the period of elevated interest rates.

“It’s taking longer for activity and home prices to bounce back in major cities where affordability challenges are greatest. Following subdued activity this spring and summer in the Greater Toronto Area, we’ve begun to see a turnaround in the fall market with an increase in buyer demand and a boost in sales. Greater Vancouver has yet to catch up,” noted Soper.

“The higher cost of living in these regions continues to result in residents migrating to other parts of the country, offset by newcomers who continually choose these cities upon arrival in Canada. Alberta continues to record population growth – made up in large part by inter-provincial migration from Ontario and British Columbia – while gains in Atlantic Canada have stalled since the pandemic rush to the Maritimes.”

Forecast

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 5.5 per cent in the fourth quarter of 2024, compared to the same quarter last year. The previously upgraded forecast has been revised down to reflect current market conditions, specifically in the greater regions of Toronto and Vancouver, which recorded lower-than-anticipated activity through the spring and summer months.

“The market recovery, albeit uneven across the country, is well underway in a majority of markets. While we may not see significant price appreciation in the typically-slower fourth quarter of this year, we believe our previous forecast will come to fruition in the anticipated early spring market of 2025.”

____________________________________

6 Bank of Canada reduces policy rate by 25 basis points to 4¼%, September 4, 2024

7 Summary of Governing Council deliberations: Fixed announcement date of September 4, 2024, September 18, 2024

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

REGIONAL SUMMARIES

Greater Toronto Area

The aggregate price of a home in the Greater Toronto Area (GTA) increased 0.7 per cent year over year to $1,155,800 in the third quarter of 2024. On a quarterly basis, however, the aggregate price of a home in the GTA decreased 2.9 per cent.

Broken out by housing type, the median price of a single-family detached home increased 1.6 per cent year over year to $1,421,000 in the third quarter of 2024, while the median price of a condominium dipped 0.4 per cent to $722,200 during the same period.

“Activity in the third quarter was muted overall. The slower-than-expected spring market gave way to a soft start to fall in Toronto and the GTA, although the tide began to turn in mid-September. While inventory levels continued to rise and the average days on market sat higher than usual, prices came down only slightly in parts of the region in Q3,” said Karen Yolevski, chief operating officer, Royal LePage Real Estate Services Ltd. “This indicates that while sellers have come off the sidelines faster than buyers, they’re not desperate to sell.”

In the city of Toronto, the aggregate price of a home decreased 2.3 per cent year over year to $1,128,900 in the third quarter of 2024. During the same period, the median price of a single-family detached home declined 1.3 per cent year over year to $1,672,400, while the median price of a condominium decreased 3.2 per cent to $682,800.

“Trends in Toronto’s condo market have been marching to a different beat, compared to other property segments of late. A wave of new units has hit the market amid a near-record number of completions this year. And, with some investors offloading rental units that have become too expensive to carry, prices have softened. This could spell opportunity for first-time buyers, with borrowing rates on the decline and new 30-year amortization legislation set to come into effect that will ease the burden of monthly carrying costs,” noted Yolevski.

“Looking ahead, as we move further into the fall market and lending rates continue to ease, sales activity and prices will start to edge upward modestly, and housing inventory will get consumed. I believe Toronto, along with most of the country, is set to see a brisk spring housing market in 2025.”

Royal LePage is forecasting that the aggregate price of a home in the Greater Toronto Area will increase 6.0 per cent in the fourth quarter of 2024, compared to the same quarter last year. The previous forecast has been revised downward to reflect current market conditions.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Greater Montreal Area

The aggregate price of a home in the Greater Montreal Area increased 5.2 per cent year over year to $605,400 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region rose 1.0 per cent.

Broken out by housing type, the median price of a single-family detached home increased 7.1 per cent year over year to $691,500 in the third quarter of 2024, while the median price of a condominium posted a more modest increase of 4.0 per cent to $467,700 during the same period.

“Despite three Bank of Canada rate cuts, we have yet to see a buyer rush. On the one hand, buyers are standing by, confident that further rate cuts are imminent and will create a more opportune time to buy. On the other hand, sellers are fine-tuning their strategies, counting on a wave of motivated buyers in the next few months,” said Dominic St-Pierre, executive vice president, business development, Royal LePage. “The Greater Montreal Area real estate market is performing well, with healthy growth in activity and prices, considering that Canada’s other two major markets are stagnating.”

With another announcement by the Bank of Canada due on October 23rd, additional pent-up demand is expected to be released into the market. According to the latest predictions by economists, October will bring the fourth and penultimate drop in the key lending rate for 2024.

“The dilemma that seems to be keeping buyers awake at night is whether to jump in now before prices go up due to higher demand, or keep waiting and take advantage of even more attractive mortgage rates,” St-Pierre added. “We’re already seeing an uptick in activity, which began in September.”

In Montreal Centre, the aggregate price of a home increased 3.9 per cent year over year to $732,900 in the third quarter of 2024. During the same period, the median price of a single-family detached home increased 8.1 per cent to $1,147,000, while the median price of a condominium increased 4.4 per cent to $570,700.

St-Pierre welcomes the federal government’s action to improve access to home ownership for first-time buyers by extending the amortization period on mortgages to 30 years. However, this measure is likely to boost real estate demand and property prices.

“The housing affordability issue is a top priority for many, and we owe it to ourselves as a society to provide solutions for future generations who will be faced with the realities of a higher cost of living. That said, these new measures raise the age-old question: what impact will they have on real estate demand in terms of rising property prices in Canada in the context of a chronic housing shortage? In the short term, these measures are likely to fuel existing demand and drive up prices. However, in the long term, this easing of mortgage rules will help many first-time buyers access home ownership and build wealth.”

Royal LePage is forecasting that the aggregate price of a home in the Greater Montreal Area will increase 8.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Greater Vancouver

The aggregate price of a home in Greater Vancouver increased a modest 0.5 per cent to $1,233,900 year over year in the third quarter of 2024. On a quarterly basis, however, the aggregate price of a home in the region decreased 1.4 per cent.

Broken out by housing type, the median price of a single-family detached home increased 0.4 per cent year over year to $1,754,500 in the third quarter of 2024, while the median price of a condominium increased 0.2 per cent to $768,600 during the same period.

“The Greater Vancouver market has remained relatively steady through the third quarter, with September showing similar patterns to the summer months. We didn’t see a significant bump in activity and prices dipped just slightly compared to the second quarter,” said Randy Ryalls, general manager, Royal LePage Sterling Realty. “The slow activity across all segments can largely be attributed to buyers sitting on the fence waiting for further interest rate reductions, without any real urgency to make a move just yet.”

Ryalls noted that the detached home segment in particular continues to experience weaker demand, and remains firmly in buyer territory today.

“Interest rates are anticipated to continue their downward trend, and while the cuts so far haven’t sparked a surge in activity, a more substantial drop – a 50 basis point decrease – could have a more noticeable impact on the market. Many potential buyers are waiting for the bottom before making their move,” added Ryalls. “With inventory continuing to grow, this is an optimal environment for those who are ready to buy – prices are holding flat and there are more properties to choose from.”

In the city of Vancouver, the aggregate price of a home increased 0.6 per cent year over year to $1,409,800 in the third quarter of 2024. During the same period, the median price of a single-family detached home decreased 1.1 per cent to $2,244,400, while the median price of a condominium remained virtually flat, increasing 0.2 per cent to $839,600.

“Between now and the end of the year, I expect activity to remain fairly flat. However, Vancouver’s market trends tend to shift quickly, and if buyer urgency and activity reverse course, I wouldn’t be surprised to see an uptick in prices as well.”

Royal LePage is forecasting that the aggregate price of a home in Greater Vancouver will increase 3.0 per cent in the fourth quarter of 2024, compared to the same quarter last year. The previous forecast has been revised downward to reflect current market conditions.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Ottawa

The aggregate price of a home in Ottawa increased 1.6 per cent year over year to $775,100 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region remained virtually unchanged, decreasing 0.3 per cent.

Broken out by housing type, the median price of a single-family detached home increased 1.8 per cent year over year to $894,400 in the third quarter of 2024, while the median price of a condominium increased modestly by 1.0 per cent to $400,300 during the same period.

“At the end of the summer, the Ottawa real estate market had approximately three months worth of inventory, teetering between a balanced and a seller’s market. Properties tend to stay online for a little over a month these days, which signals a healthy marketplace for both buyers and sellers,” said Jason Ralph, broker of record and president, Royal LePage Team Realty. “Home prices have continued to hold steady in recent months as sellers stick with their listing strategy; they remain confident that they will secure the price they want, even if they have to wait. Buyers are still hunting for a bargain, and are comfortable taking their time to find the property that best suits their needs. Those who are under a time constraint are moving because they have to – many others continue to wait until borrowing rates become more affordable.”

Ralph noted that new mortgage legislation is generating some buzz in the market, making first-time buyers more optimistic. Busy open houses and an increase in showing requests proves consumers’ confidence in the trajectory of the market is improving.

“We expect home prices to trend upward slightly throughout the rest of the year as new borrowing rules improve affordability for first-time buyers,” said Ralph. “Rising prices could be exacerbated if an election is called this year. Whenever there is a changeover in government, the Ottawa housing market tends to react more markedly than other major cities.”

Royal LePage is forecasting that the aggregate price of a home in Ottawa will increase 4.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Quebec City

The aggregate price of a home in Quebec City increased 10.5 per cent year over year to $388,600 in the third quarter of 2024. This represents the highest year-over-year price increase in Canada in Q3, and the highest price gain among the report’s major regions for the second consecutive quarter. On a quarterly basis, the aggregate price of a home in the region remained virtually flat, increasing 0.4 per cent.

Broken out by housing type, the median price of a single-family detached home increased 11.0 per cent year over year to $413,400 in the third quarter of 2024, while the median price of a condominium increased 14.5 per cent to $291,100 during the same period.

Historically, Quebec City’s real estate market has rarely stood out on a provincial or national scale. Due to the stability of its labour market, which is mainly driven by the provincial civil service, demand for real estate has rarely led to major price surges.

“Overall, the province’s markets have been relatively unaffected by the post-pandemic correction in real estate prices, compared to Ontario and British Columbia. Where declines did occur, they were slight and short-lived,” said Michèle Fournier, vice-president and certified real estate broker, Royal LePage Inter-Québec. “In Quebec City, the real estate correction simply never materialized. Instead, local and out-of-town demand continued to fuel rising prices without tiring, until late September. Now, buyers seem to have taken a breather, awaiting a possible further boost from the Bank of Canada with a rate cut this autumn, before repositioning themselves in the market.”

This pause in activity is likely to be short-lived. With interest rates continuing to fall, and the federal government providing an additional leg-up by extending the mortgage amortization period for first-time buyers by a further five years, activity is expected to pick up quickly.

“We view this initiative positively, since young buyers need additional assistance more than ever to be able to access a first home, even if this support will increase the interest portion of their mortgage bill,” said Fournier. “However, this initiative raises concerns about the impact on a real estate market characterized by high demand and limited supply. I think we’re in for a very busy start to the year, particularly in the entry-level property market, which will be highly coveted by first-time buyers.”

Royal LePage is forecasting that the aggregate price of a home in Quebec City will increase 9.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Calgary

The aggregate price of a home in Calgary increased 6.9 per cent year over year to $698,700 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region increased a modest 0.7 per cent.

Broken out by housing type, the median price of a single-family detached home increased 6.7 per cent year over year to $799,200 in the third quarter of 2024, while the median price of a condominium increased 8.2 per cent to $274,100 during the same period.

“Calgary’s real estate market saw a slight uptick in activity following the most recent interest rate cut by the Bank of Canada, just as the fall market got underway. We’re seeing more inventory come onto the market, especially in the $700,000-and-up segment – many sellers who pulled their properties off the market in August re-listed in September to capitalize on the fall market momentum,” said Corinne Lyall, broker and owner, Royal LePage Benchmark. “While this hasn’t fully converted to sales just yet, agents are certainly staying busy, which suggests more transactions will occur in the months ahead.”

Lyall noted that competition in the lower end of the market remains tight and some homes are attracting multiple offers. While the region remains in a seller’s market, conditions are gradually shifting toward more balance.

“Looking ahead, we expect prices to remain fairly stable through the remainder of 2024. There is potential for modest growth if further interest rate cuts occur. I expect the region will stay in a seller’s market right through the spring across most price points, particularly with continued demand for lower-priced homes.”

Royal LePage is forecasting that the aggregate price of a home in Calgary will increase 8.0 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Edmonton

The aggregate price of a home in Edmonton increased 5.4 per cent year over year to $456,300 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region increased 1.3 per cent.

Broken out by housing type, the median price of a single-family detached home increased 5.7 per cent year over year to $498,900 in the third quarter of 2024, while the median price of a condominium increased 3.1 per cent to $201,000 during the same period.

“Edmonton’s real estate market is on track to have one of the most productive years on record. We had an extraordinarily busy summer. Typically, activity dips in July and August, but this year we saw a steady stream of sales right through the summer months. And, it looks like that momentum is being carried into the fall,” said Tom Shearer, broker and owner, Royal LePage Noralta Real Estate. “Inventory remains very tight – among the lowest levels we’ve seen in nearly two decades – as buyer demand continues to rise, driven in large part by first-time buyers from other cities and provinces relocating to the region. Our healthy job market and access to nature are a huge draw.”

Shearer noted that while sales remain strong, the slow and steady pace of the Bank of Canada’s rate cuts has helped to keep price gains in check.

“Affordability remains a challenge, especially for those purchasing their first home with no equity to leverage. The gradual easing of borrowing rates is beginning to make an impact, and will continue to do so, but we have yet to see a dramatic boost in prices as a result,” added Shearer. “While consumer confidence is up overall, buyers remain cautious and many are waiting for more listings to come online. Activity should begin to plateau in the coming weeks. I expect a strong spring is on the horizon, especially with further rate cuts expected.”

Royal LePage is forecasting that the aggregate price of a home in Edmonton will increase 6.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Halifax

The aggregate price of a home in Halifax increased 2.2 per cent year over year to $510,100 in the third quarter of 2024. On a quarterly basis, however, the aggregate price of a home in the region decreased 0.7 per cent.

Broken out by housing type, the median price of a single-family detached home increased 1.7 per cent year over year to $574,000 in the third quarter of 2024, while the median price of a condominium increased 4.0 per cent to $422,900 during the same period.

“The recent cuts to the overnight lending rate have yet to meaningfully stir up activity in the housing market. Home sales in late summer were quite slow, which is to be expected that time of year. Only in the last few weeks as we’ve entered the early fall market have we seen an uptick in inquiries. Despite this quieter pace, buying and selling activity remains up compared to 2023 levels,” said Matt Honsberger, broker and owner, Royal LePage Atlantic. “Housing inventory continues to rise throughout the Halifax region, but not enough to meet the backlog of demand. Competition for homes in the lower end of the market remains tight, while those shopping in the move-up segment have the advantage of more listings to choose from. More properties are needed to satisfy the high demand from first-time buyers.”

Honsberger noted that population growth in the Atlantic region has slowed to 2015 levels, ending the wave of migration that defined the pandemic real estate boom in 2020 and 2021. This has helped to soften market conditions for locals.

“We are anticipating a busy fall market. The new 30-year mortgage amortization rules announced by the federal government, in addition to further rate cuts expected by the Bank of Canada, will help to keep the market steady throughout the coming months and into the spring of 2025,” added Honsberger. “Home prices will start to show upward movement when more move-up buyers jump back into the market, freeing up entry-level inventory for eager first-time purchasers.”

Royal LePage is forecasting that the aggregate price of a home in Halifax will increase 6.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Winnipeg

The aggregate price of a home in Winnipeg increased 4.4 per cent year over year to $402,600 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region remained virtually flat, decreasing 0.2 per cent.

Broken out by housing type, the median price of a single-family detached home increased 3.9 per cent year over year to $441,000 in the third quarter of 2024, while the median price of a condominium increased 3.2 per cent to $264,400 during the same period.

“Buying and selling activity in Winnipeg remained brisk throughout the late summer months and heading into the early fall; home sales are up compared to this time in 2023. Available inventory is down compared to typical levels for this time of year, which could result in steeper price increases in the months ahead as momentum builds heading into the fall,” said Michael Froese, broker and manager, Royal LePage Prime Real Estate. “The recent cuts made to interest rates, though they have improved consumer confidence, have not had a material impact on activity just yet. Rather, much of our market demand continues to be fuelled by a strong local economy and a growing population driven by new Canadians, as well as residents from Toronto and Vancouver who have relocated to Winnipeg in search of more affordable housing.”

Froese added that new housing starts have improved from last year’s levels as borrowing rates come down, giving builders some much needed financial relief. However, new development remains short of what is needed to meet current market demand.

“We expect activity will continue to outperform 2023 levels for the remainder of the year,” said Froese. “Thanks to a combination of falling interest rates and new mortgage incentives announced by the federal government, buyer demand will only continue to grow heading into the new year. Given the amount of demand that will continue to come off of the sidelines as well, now is an ideal time for sellers to enter the market.”

Royal LePage is forecasting that the aggregate price of a home in Winnipeg will increase 7.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

Regina

The aggregate price of a home in Regina increased 5.0 per cent year over year to $387,100 in the third quarter of 2024. On a quarterly basis, the aggregate price of a home in the region increased modestly by 0.6 per cent.

Broken out by housing type, the median price of a single-family detached home increased 6.6 per cent year over year to $424,600 in the third quarter of 2024, while the median price of a condominium remained virtually flat, increasing 0.2 per cent to $220,300 during the same period.

“We continue to see robust sales activity in our housing market, as demonstrated by frequent bidding wars and homes selling over the asking price. Demand far exceeds the number of new listings, which is keeping prices on an upward trajectory,” said Shaheen Zareh, sales representative, Royal LePage Regina Realty. “All of this demand predates the recent cuts to the overnight lending rate – new immigrants, investors and buyers from more expensive cities in Canada have been major drivers of activity for some time. Though Regina has not historically had a strong condo market, we also continue to see momentum build in this segment, especially as young buyers seek affordable housing options.”

Zareh added that Regina’s rental market is experiencing strong demand as well, particularly for duplex and low-rise housing types. The majority of development in the region is currently in the rental segment. To prevent an overflow of supply, builders have kept a consistent pace when bringing new rental product to the market.

“Based on current conditions, Regina will no doubt record a strong fall market performance. With additional interest rate cuts likely on the cards in the coming months, we expect buyer demand to increase as their borrowing power expands. This will put further upward pressure on home prices, unless we see a material increase in supply.”

Royal LePage is forecasting that the aggregate price of a home in Regina will increase 6.5 per cent in the fourth quarter of 2024, compared to the same quarter last year.

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2024 Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2024

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The Royal LePage House Price Survey provides information on the most common types of housing, nationally and in 64 of the nation’s largest real estate markets. Housing values in the Royal LePage House Price Survey are based on the Royal LePage Canadian Real Estate Market Composite, produced quarterly through the use of company data in addition to data and analytics from partner company, RPS Real Property Solutions, the trusted source for residential real estate intelligence and analytics in Canada. Additionally, commentary on housing market trends and data on price and forecast values are provided by Royal LePage residential real estate experts, based on their opinions and market knowledge.

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RE/MAX Canada has released its 2024 RE/MAX Canada Condominium Report.

In this video interview, Samantha Villiard, Regional Vice President, RE/MAX Canada, discusses the key findings from the report.

PRESS RELEASE TORONTO, Oct. 9, 2024 /CNW/ — Despite fears of leaving money on the table, sellers have returned to housing markets across the country in large numbers as the promise of future interest rate cuts draw skittish buyers back into the fray, according to a report released today by RE/MAX Canada.

The 2024 RE/MAX Canada Condominium Report examined condominium activity between January – August 2024 in seven major markets across the country including Greater Vancouver, Fraser Valley, City of Calgary, Edmonton, Greater Toronto, Ottawa and Halifax Regional Municipality, and found that condo listings have soared in anticipation of increased demand in the fourth quarter of 2024 and early 2025. Growth in inventory levels was highest in the Fraser Valley (58.7 per cent), followed by Greater Toronto (52.8 per cent), City of Calgary (52.4 per cent), Ottawa (44.5 per cent), Edmonton (17.7 per cent), Halifax Regional Municipality (8.1 per cent) and Vancouver (7.3 per cent). Values have held up surprisingly well given the influx of listings, with gains posted in Calgary (15 per cent), Edmonton (four per cent), Ottawa (2.3 per cent), Vancouver (1.9 per cent), Fraser Valley (1.9 per cent), and Halifax (1.2 per cent). Meanwhile in Greater Toronto, the average price fell two per cent short of year-ago. While sales were robust in Alberta thanks to in-migration from other parts of the country, Edmonton led the way in terms of percentage increase in the number of condos sold, up just close to 37 per cent from year-ago levels, marking the region’s best performance in the previous five-year period. This is followed by a more tempered Calgary market, which was up 2.6 per cent over 2023. Remaining markets saw home-buying activity soften in the condominium sector.

“High interest rates and stringent lending policies pummeled first-time buyers in recent years, preventing many from reaching their home-ownership goal, despite having to pay record high rental costs that mirrored mortgage payments,” says RE/MAX Canada President Christopher Alexander. “The current lull is the calm before the storm. Come spring of 2025, pent-up demand is expected to fuel stronger market activity, particularly at entry-level price points, as both first-time buyers and investors once again vie for affordable condominium product.”

SOURCE: Greater Vancouver REALTORS, Fraser Valley Real Estate Board, Calgary Real Estate Board, REALTORS Association of Edmonton, Toronto Regional Real Estate Board, Ottawa Real Estate Board, Nova Scotia Association of REALTORS. *Apartments Only **Estimated average price for Greater Vancouver

Edmonton and Calgary remain firmly entrenched in seller’s market territory, while conditions are more balanced in Greater Vancouver, Fraser Valley, Ottawa and Halifax. These markets will likely transition in 2025. Toronto may be the last to emerge from more sluggish conditions, however, Alexander notes that it’s a market that has been known to turn quickly. Absorption rates will be a key indicator. Certainly, the market forces of supply and demand always prevail, so some neighbourhoods will fare better than others. Of note in Toronto, prices have likely bottomed out and that’s usually evidence that a turnaround is in sight.

The current uptick in inventory levels is drawing more traffic to listings, yet buyers remain somewhat skittish across the country. The first two Bank of Canada interest rate cuts did little to entice prospective homebuyers to engage in the market, given the degree of rate increases that took place. However, with further rate reductions expected and policy adjustments to address affordability and ease entry into the market, activity will likely start to climb, particularly among end users.

“Even in softer markets, hot pockets tend to emerge,” says Alexander. “In the condominium segment we’re seeing a diverse mix among the most in-demand areas, ranging from traditional blue-chip communities to gentrifying up-and-comers, as well as suburban hot spots. Condominiums in choice recreational areas were among the markets posting stronger sales activity—a trend that was also reflected in our single-detached housing report issued earlier this year.”

In each market, there are condominium pockets that defied overall trends. In the Greater Toronto Area, condominium sales were up by double digits in the first eight months of 2024 in midtown communities such as Toronto Regional Real Estate Board (TRREB)’s Yonge-Eglinton, Humewood-Cedarvale, Forest Hill South (C03) where activity increased 25.3 per cent (114 condo sales in 2024 compared to 91 sales in 2023) and Bedford-Park-Nortown, Lawrence Park, and Forest Hill North (C04) rose 13.3 per cent (128/113). The west end’s High Park, South Parkdale, Swansea and Roncesvalles (W01) communities experienced a 15.7-per-cent upswing in units sold (206/178) while neighbouring W02 including High Park North, Junction, Lambton Baby Point, and Runnymede-Bloor West Village climbed 25.2 per cent (189/151). In the east end, the Beaches (E03) reported a 20.3-per-cent increase in sales activity.

In Greater Vancouver, an uptick in apartment sales was noted in suburban markets including Port Coquitlam where the number of units sold was up 11 per cent (263 in 2024 compared to 237 in 2023) while more moderate increases were posted in New Westminster (up 0.4 per cent) and recreational communities such as Whistler/Pemberton (up 3.3 per cent). In Fraser Valley, Mission was the sole market to experience an increase in apartment sales, according to the Fraser Valley Real Estate Board, up just over 74 per cent year-over-year (68 in 2024 compared to 39 in 2023). Strong sales were also reported in Calgary neighbourhoods such as Eau Claire (up 59.1 per cent) and Downtown East Village (up 17.3 per cent).

Meanwhile, RE/MAX found that investor activity has stalled in most markets. The slowdown has been most notable in Greater Toronto, where up to 30 per cent of investors have experienced negative cashflow on rental properties as mortgage carrying costs climbed, according to analytics by Urbanation and CIBC Economics. Investor confidence is expected to recover in the months ahead, as interest rates fall and return on investment (ROI) improves. Edmonton bucked the trend in investor pullback. With supply outpacing demand in Canada’s most affordable condominium market, savvy investors in Edmonton have been actively revitalizing tired condominium stock and subsequently renting it out for top dollar. Affordability has been a significant draw for out-of-province investors, particularly those from Ontario and British Columbia who are seeking opportunities further afield to bulk up their portfolios. Out-of-province developers and builders have been similarly motivated by Edmonton’s lower development costs and lack of red tape. Halifax to a lesser extent has drawn investor interest, with affordability, low vacancy rates and upward pressure on rents being the primary factor behind the city’s appeal.

“In many markets, end users are in the driver’s seat right now,” explains Alexander. “While investors are an important part of the purchaser pool, this point in time is a unique opportunity for aspiring condominium buyers who, for a short window of time, will likely see less competition from investors and a better supply of product. This is especially true in Toronto and Vancouver, where the impact of monetary policy has hit investor profit margins to a greater extent despite high rent and low vacancy rates. With values set to rise, this is arguably the most favourable climate condominiums buyers have seen in recent years.”

In the longer term, immigration to Canada and in-migration/out-migration from one province or region to another will continue to prop up demand for condominiums in the years to come, as condominiums now represent both a first step to home ownership, and increasingly—in Canada’s most expensive markets—the middle step as well. Although population numbers are forecast to contract in the short-term, overall growth will resume, with Statistics Canada’s projections falling just short of 44 million to as high as 49 million by 2035.

Increasing density and urbanization, along with continued population growth is expected to support the long-term outlook for condominium activity nationally. Canada’s urban population has been climbing consistently since the post-WWII period with an estimated 80 per cent of Canadians residing in urban centres. Downtowns are growing fast, and more rapidly than ever before.

“The housing mix is evolving very quickly as a result of densification and urbanization. Condominiums now represent the heart of our largest cities, and it is inevitable that further development will see condos become the driving force accounting for the lion’s share of sales in years to come,” says Alexander. “It’s a physical and cultural shift that Canadians are not only adjusting to but are embracing, as younger generations redefine urban neighbourhoods, sparking demand for vibrant and robust amenities, infusing new life in Canada’s urban cores in the process.”

Market by market overview

Greater Vancouver Area and Fraser Valley

Softer market conditions prevailed throughout much of the year in the Greater Vancouver Area and the Fraser Valley, with fewer sales of condominium apartments occurring across the board in 2024. In Greater Vancouver, year-to-date apartment sales between January and August were well off year-ago levels at 9,248, according to Greater Vancouver Realtors, down just over eight per cent from the same period in 2023. Neighbouring Fraser Valley reported just 3,130 apartments changing hands between January and August of this year, down 8.5 per cent from year-ago levels. Values continue to climb in the Fraser Valley, where the overall average price year-to-date for apartment units is up two per cent year-over year ($559,215/$548,658) according to the Fraser Valley Real Estate Board, while Vancouver has edged up two per cent to $823,550 in 2024, compared to $807,085 in 2023.

Home-buying activity started with a bang in both Greater Vancouver and the Fraser Valley this year as the anticipation of interest rate cuts in April fuelled momentum. When it became evident that interest rates would hold steady until June or July, the wind was sucked from the market sails. Several areas in Greater Vancouver have reported an increase in year-to-date sales, including Port Coquitlam (263 sales in 2024 compared to 237 sales in 2023), New Westminster (546/544) and Whistler/Pemberton (186/180). Despite several interest rate cuts to date, however, buyers are still skittish, holding off on purchasing their home until rates decline further, while sellers are reluctant to list their homes for fear of leaving money on the table.

The catch-22 situation has been frustrating for buyers and sellers alike, but buyers who pull the trigger now on a purchase, may ultimately find themselves in a better position come spring. Selection is good with more than 2,100 apartments currently listed for sale in Greater Vancouver and another 2,080 available in the Fraser Valley, and buyers have the luxury of time to make thoughtful decisions. Come spring, the number of purchasers in the market is expected to increase, placing upward pressure on values.

Some of the most popular areas for condominium sales in Greater Vancouver in recent years are in East Vancouver. Its culturally diverse and artsy neighbourhoods, top-shelf restaurants and cafés, including Michelin Star Published on Main, as well as craft breweries and entertainment, have served to draw a younger demographic. False Creek, Mt. Pleasant, Kits Point, Fairview, Pt. Grey and Dunbar offer condo buyers a spectacular view of North Vancouver and the Burrard Inlet and easy access to the Skytrain, bike and walking paths, parks and recreational facilities. A one-bedroom apartment in an established building in Mt. Pleasant can be purchased for approximately $650,000, while newer product can be picked up for as low as $490,000 to a high of $928,000. Prices in nearby Kits trend higher with a one-bedroom hovering at $715,000 on average.

The lion’s share of apartment sales in both Greater Vancouver and Fraser Valley are occurring under the $800,000 price point for a one-bedroom apartment, while a two-bedroom priced below $1 million will generate solid interest. The Valley tends to offer greater selection under the $800,000 price point, and typically has more appeal with first-time buyers.

As demand rises in tandem with the Bank of Canada’s interest rate cuts, absorption levels should increase. Spring of 2025 is expected to be characterized by strong demand and dwindling supply, with modest increases in average price. Strong economic fundamentals going into the new year will support an increase in home-buying activity, with lower interest rates and longer amortization periods helping to draw first time buyers into the market once again.

City of Calgary

While interprovincial migration has slowed from year-ago levels, overall net migration to Alberta continues to climb, sparking demand in the province’s affordable real estate market. In Calgary, the sale of condominium apartments experienced a modest increase of almost three per cent in the first eight months of the year, with 5,722 units changing hands compared to 5,577 sales during the same period in 2023. Year-to-date average price has climbed 15 per cent year-over-year to just over $347,000, up from $301,868 in 2023, according to the Calgary Real Estate Board.

Growth has been noted in virtually all areas of the city, with the greatest percentage increases in sales occurring in Eau Claire (59.1 per cent), Killarney/Glengary (46.7 per cent), Garrison Woods (64.7 per cent) Garrison Green (23.5 per cent) and Currie Barracks (18.2 per cent). Most condominium apartment sales are occurring in the downtown district, where walkability plays a major role. Younger buyers tend to gravitate toward the core area, which allows residents to walk to work and amenities. Not surprisingly, the highest number of sales occurred in the Downtown East Village, where 129 units have been sold year to date, up from 110 sales one year ago. Significant gains have also been posted in average price, with Saddle Ridge experiencing an increase in values close to 36 per cent, rising to $317,997 in 2024, followed by Hillhurst, which increased 21.4 per cent to $423,873. Out of the 12 key Calgary markets analyzed by RE/MAX, seven posted double-digit gains in values.

Seller’s market conditions prevailed in the city throughout much of the year, with strong demand characterizing home-buying activity. Luxury apartment sales are on the upswing, with 49 apartments selling over $1 million so far this year compared to 41 during the same period in 2023, an increase of 19.5 per cent. Empty nesters, retirees and oil executives are behind the push for high-end units, most of which are in the downtown core offering spectacular views of both the Bow River and the mountains.

First-time buyers are most active in the suburbs, where they can get the best bang for their buck in communities such as McKenzie Town, Panorama Hills and Saddle Ridge. Apartment values in these areas average around $300,000, making them an attractive first step to home ownership, but also an affordable entry point for small investors.

After a heated spring market, inventory levels have improved substantially, with a relatively good selection of condominiums available for sale. Inventory levels hover at close to 1,500, up substantially from year-ago levels, with the sales-to-new listings ratio now sitting at 60 per cent. With interest rates trending lower, more buyers and a greater number of investors are expected to enter the market in the year ahead. Rather than waiting for next spring, when rates are lower but prices are higher, buyers may want to consider making a purchase today when supply is healthy and market conditions are less heated. Buying with a two-month closing could also capture the expected Bank of Canada rate cuts in October and December.

Edmonton

Home-buying activity in the Edmonton’s apartment segment exploded in 2024, with year-to-date sales almost 37 per cent ahead of year-ago levels. Affordability continues to be the catalyst for activity, with 3,351 units changing hands, up from 2,452 sales one year ago, making 2024 the best year for apartment sales in the past five years (for the January to August period). The average price of an apartment in Edmonton year-to-date is $200,951, up four per cent over year-ago levels, according to the Realtors Association of Edmonton, making Edmonton the lowest-priced major market in the country.

Immigration and in-migration have seriously contributed to the uptick in sales, with Edmonton reporting record population growth in 2023. Statistics Canada data for Alberta in the second quarter of 2024 show net interprovincial migration continues unabated, up almost 11 per cent, with 9,654 new residents coming from other Canadian centres – the majority hailing from Ontario and British Columbia. During the same period, immigration numbers remained relatively constant at 32,000. The sales-to-new-listings ratio now sits at 65 per cent—clear seller’s territory. Many condominiums are now moving in multiple offers.

The influx of newcomers has buoyed the city, with growth evident in neighbourhoods from the downtown core to the suburbs. Most are buying up properties, as opposed to renting, as they may have done in years past. Home ownership is more-easily attainable in Edmonton relative to other major cities, with the cost of a condominium apartment as low as $100,000. Newer condominiums are available for less than $300,000. Condominiums vary in shape and size in Edmonton, with row house condominiums featuring a backyard and a garage being a major attraction. Investors have also entered the picture, buying up older, tired condo units, fixing them up and renting them out for top dollar.

Lower development costs have also prompted an influx of out-of-province builders and developers who can quickly construct 20- and 30-floor high-rise towers or townhouse developments that fill the missing middle. Well-known builders in Ontario and British Columbia are moving into the Alberta market because of the lack of red tape. Several condominium buildings are currently underway, with many more in various stages of planning. With demand currently outpacing supply, the quicker these units come on stream, the better. By 2027, more balance market conditions are expected.

First-time buyers are also exceptionally active in the condo segment. Affordable price points and a notable lack of provincial and municipal land transfer taxes allow younger buyers to easily enter the market. Purchasers who are coming from other provinces quickly realize how far their dollar stretches in Edmonton, as the low cost of housing allows for more disposable income. Homeowners can pay their mortgage, go out for weekly dinners, and have an annual vacation, without too much stress.

Amenity-rich Oliver remains one of the most coveted hubs in Edmonton. West of 109th St. and the downtown core, the diverse neighbourhood offers a mix of new condominium development including walk ups, mid- and high-rise buildings, and peripheral spin off including retail shops, restaurants and entertainment, all within a short walk to the River Valley. Demand is especially high thanks to the walkability of the area and close proximity to the ICE District. Old Strathcona and Whyte Avenue are also sought-after. The trendy arts and cultural area boasts a mix of funky, bohemian-style and historic buildings, galleries, boutiques, shops, restaurants, cafes and a vibrant nightlife.

Edmonton’s housing market continues to be driven from the bottom up. Renters move into condo apartments, who move into condo row housing, who move into townhomes and eventually make their way to single-detached homes. The cycle is expected to be supported by a strong local and provincial economy heading into 2025 as monetary policy continues to ease, households and businesses increase spending, and oil prices climb.

Greater Toronto Area

Demand for condominium apartments and townhomes in the Greater Toronto Area has softened year-over-year, with sales off 2023 levels by eight per cent. Close to 16,800 condo apartments and townhomes changed hands between January and August 2024, down from 18,263 sales during the same period in 2023. Overall condominium values fell almost two per cent, with average price now sitting at $732,648 for apartments and townhomes, down from $747,039 during the same period in 2023, according to data from the Toronto Regional Real Estate Board (TRREB).

Two buyer pools are impacting the condominium market at present—investors and end users. The investment segment has stalled, as a growing number of condominium investors find themselves unable to cover their carrying costs when closing, despite a relatively strong rental market. In a July 2024 report, Urbanation and CIBC Economics examined the distribution of cash flow by dollar amount and found that 30 per cent of investors of new condos completed in 2023 were cash flow negative by $1,000 or more.

End users, especially those seeking larger one-bedroom-plus-den or two-bedroom units, are active in the condo market, particularly in the Forest Hill South, Yonge-Eglinton, Humewood-Cedarvale (C03) and Bedford-Nortown, Lawrence Park and Forest Hill North (C04). Several new buildings in these areas have prompted a 25.3- and 13.3-per-cent uptick in sales activity respectively, while average price has edged slightly higher in Forest Hill South, Yonge-Eglinton, Humewood-Cedarvale ($871,839 in 2024 compared to $863,681 in 2023).

Double-digit increases in year-to-date condominium sales in the 416 were also reported in west end communities such as High Park, South Parkdale, Swansea and Roncesvalles (up 15.7 per cent), High Park North, Junction, Lambton- Baby Point, and Runnymede-Bloor West Village (up 25.2 per cent); and in the east, the Beaches area (up 20.3 per cent). In the 905-area code, an uptick in condo activity was noted in Halton Hills (up 21.6 per cent) and Milton (up 13.3 per cent); and in Newmarket (up 30.6 per cent).

Close to 43 per cent of TRREB districts in the 416-area code reported modest gains in average price between January and August of 2024, led by the Annex, Yonge-St. Clair (C02), with a close to 14-per-cent increase in values. One in four markets in the 905-area code have posted gains in condominium values year-over-year.

Inventory levels continued to climb throughout much of the year as available resale units were joined by an influx of new completions on the Multiple Listing Service (MLS). Selection has vastly improved over year-ago levels, with over 8,300 apartment units actively listed for sale at the end of August, compared to 5,455 units during the same period in 2023. Almost 1,700 active listings were reported in the condo townhouse segment, up 53 per cent from the 1,110 posted in 2023. Pre-construction condominium assignments are still occurring as investors look to sell their units before registration, but the pace has subsided since 2023.

New completions have slowed in the second quarter of this year in Greater Toronto–Hamilton in large part due to the lack of investor interest, with starts off last year’s level by 67 per cent, according to Urbanation. Repercussions in the short-term will be negligible but the longer-term impact is expected to be substantial. Twenty-thousand new condominium units are planned for the GTA in 2025; 30,000 in 2026; and 40,000 in 2027. In 2028, the figure falls to 5,000 units. At that point, construction will heat up, but not fast enough to meet demand.

With a six-month supply of condominiums currently available for sale, the GTA market is heading into clear buyers’ territory. With values at or near bottom and Bank of Canada overnight rates trending lower, the fall market may represent the perfect storm for first-time buyers. As rates drop, more buyers are expected to enter the market in the months ahead. As absorption rates increase, the current oversupply will be diminished and demand will take flight, placing upward pressure on average prices once again.

Ottawa

Although downsizing empty nesters, retirees and first-time homebuyers fuelled steady demand for condominium apartments and walk-ups in Ottawa in 2024, the number of units sold between January and August fell short of year-ago levels. The Ottawa Real Estate Board reported just over 1,400 condominium apartments changed hands year to date, down less than one per cent from 2023. Meanwhile, values rose 2.3 per cent over last year, with average price rising to $447,042.

Affordability remains a major concern in Ottawa, despite changes to monetary policy in recent months. First-time buyers find themselves locked out of the freehold market, given high interest rates and stringent lending policies. Fixed mortgage rates have dropped in recent weeks and are expected to continue to decline for the remainder of the year and into 2025, but potential buyers are still wary. Inventory levels have increased year over year as a result, with active listings in August hovering at 636, approximately 44.5 per cent ahead of 2023.

First-time buyers who choose to move forward with a purchase are typically looking for condominiums with low monthly maintenance fees and a parking spot priced from $500,000 to $550,000. The downtown core to Centretown and Dows Lake are popular destinations, given the proximity to the workplace, shops and restaurants. Those seeking to spend less could find a lower-priced unit in an older building for $350,000 but monthly condominium fees would be significantly higher. Suburban condominiums in areas such as Kanata, Barrhaven, and Orleans are also an option, priced from $375,000 to $400,000.

Tighter inventory levels exist in the luxury segment, where fewer condominium apartments are available over the $850,000 price point. Empty nesters and retirees are responsible for the lion’s share of activity in the top end of Ottawa’s condominium market. Westboro, the Golden Triangle, and Centretown, as well as neighbourhoods undergoing gentrification including The Glebe, Lansdowne, and Old Ottawa East, are most sought-after by buyers, many of whom are downsizing. Walkability is a major factor in these communities, with condominium apartments within walking distance to top restaurants and cafes, unique shops and picturesque walking paths.

As consumer confidence grows with each interest rate cut, more and more buyers should return to the market. Fourth-quarter sales are expected to be comparable to year-ago levels, but the outlook for spring of 2025 appears to be bright. Pent-up demand is building and those first into the market will reap the rewards.

Halifax Regional Municipality

After three consecutive interest rate cuts and the prospect of two more by year end, optimism is finally building in the Halifax Regional Municipality housing market. Average condominium values have edged ahead of year-ago levels in the first eight months of the year, now sitting at $484,491, up one per cent over the $479,558 reported during the same period in 2023. Condominium sales, however, declined year over year, with 510 properties changing hands between January and August, down close to seven per cent from last year’s levels, according to data compiled by the Nova Scotia Association of Realtors.

The trepidation that existed earlier in the year is subsiding and confidence is starting to grow as inflation is curtailed. The most competitive segment of the overall housing market remains under $600,000 in the Halifax area, with first-time buyers most active at this price point. Entry-level condominiums priced between $300,000 and $400,000 are most sought after, while semi-detached and townhomes tend to be the preferred choice over $400,000. At the top end of the market, condominium sales over $750,000 have experienced a modest uptick, with 35 properties sold so far this year, compared to 34 during the same period one year ago. Year-to-date average price in the top end of the market has softened from year-ago levels, sitting at almost $940,000, down from $957,300 during the same timeframe in 2023. Young professionals and retirees are largely behind the push for higher-end condominiums, with most sales occurring within the city’s downtown core.

Downward pressure on interest rates has prompted more sellers to list their condos in recent weeks, but there are no liquidation sales occurring. Inventory levels are up just over eight per cent from 2023. The vast majority of condominium apartments are found on the peninsula’s northeast quadrant, central and downtown cores. Some developments are situated on the waterfront in Dartmouth (near the ferry) and in Bedford, but supply is less plentiful in these areas.

Investors are also active in Halifax’s condominium market with an eye toward rental properties. Multi-unit housing remains exceptionally popular, with most investors interested in buildings with eight to 10 units. Four-plexes and duplexes are also an option, given the city’s low vacancy rates and upward pressure on rent.

In-migration and immigration have continued to play a role in the city’s growth, although the influx of newcomers has abated somewhat from peak levels. Positive international immigration, coupled with interprovincial migration, contributed to a net increase of 6,000 people in the second quarter of 2024. Major improvements are planned for the Dartmouth waterfront that will make it more pedestrian friendly in the coming years, including public spaces and cruise ships. The redevelopment hopes to mirror the success of Halifax’s vibrant waterfront area that continues to attract both visitors and residents to the area’s restaurants and cafes, outdoor kiosks, retail shops, playgrounds, museums, and the ferry terminal.  With continuous investment and a bold new vision for the municipality, Halifax is expected to thrive in the years ahead, given the city’s affordable real estate and spectacular topography.

About the RE/MAX Network 

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in almost 9,000 offices with a presence in more than 110 countries and territories. RE/MAX Canada refers to RE/MAX of Western Canada (1998), LLC and RE/MAX Ontario–Atlantic Canada, Inc., and RE/MAX Promotions, Inc., each of which are affiliates of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides.

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit remax.ca. For the latest news from RE/MAX Canada, please visit blog.remax.ca.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

#business #CanadasNumberOnePodcastforEntrepreneurs #Condo Market #Condos #entrepreneurs #entrepreneurship #Homes #Housing #RealEstate #small business

Karen Greve Young is the CEO of Futurpreneur, a national non-profit organization that has provided support to over 18,700+ young entrepreneurs across Canada since its establishment in 1996.

Karen Greve Young, CEO, Futurpreneur Karen Greve Young, CEO, Futurpreneur

In this video interview, she discusses what the organization does and some recent developments with it.

Check out the previous news story here.

BIO With her extensive background in finance and strategy, Karen is an accomplished leader in the non-profit sector, committed to driving inclusive economic and social prosperity through innovative approaches and strategic partnerships. She leads a committed team at Futurpreneur, working to empower diverse young entrepreneurs and foster sustainable, inclusive economic development within communities across Canada.

Before joining Futurpreneur in 2018, Karen held the position of Vice President, Corporate Development & Partnerships at MaRS Discovery District, where she played a pivotal role in shaping corporate strategies, managing global innovation partnerships, and overseeing community engagement initiatives. Her earlier career encompasses various finance, management, and strategy roles in organizations such as Bain & Company, Gap Inc., and the Institute of Cancer Research in San Francisco, New York, and London.

Karen’s passion for making a difference extends beyond her professional endeavors. She co-authored a book with her mother titled “Love You So Much, A Shared Memoir,” documenting their journey through her mother’s battle with ovarian cancer. Karen also serves as Chair of the Board of Ovarian Cancer Canada, further demonstrating her commitment to supporting important causes.

She holds an MBA from Stanford University’s Graduate School of Business and a BA in Economics from Harvard University, both with honours. With her exceptional leadership, diverse experience, and unwavering dedication, Karen Greve Young continues to drive positive change and inspire the next generation of entrepreneurs in Canada.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

Welcome to FuturVille – Your Hub for Healthy Longevity and Sustainable Living

Who Are We? We are a for-profit company building a network of healthy longevity villages that plans to be in business for 100+ years where each of our stakeholders – residents, visitors, shareholders – will add minimum 10+ healthy years onto their life by actively up-leveling their quality of life, contribute and grow in a collective economy, and live, work and play in purpose-driven communities. 

Our Vision Everyone lives in vibrant villages, thriving with health and vitality, reaching age 100+ free from disease, embracing technology for good, and achieving remarkable environmental, social, and governance achievements, and measurable sustainable development goals.

Our Mission By 2035, develop, promote, and connect 1 million residents and 20 million visitors to healthy longevity experiences across 4,000 villages.

Website: https://futurville.com

Phone: 250-713-9409

Email: alive@futurville.com

https://www.youtube.com/ @futurville  

https://www.instagram.com/futurville_ex/

https://x.com/FuturVille_eX

https://www.facebook.com/FuturVille.Ex ----

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Eno Eka is a highly accomplished business analyst and consultant based in Calgary, Alberta, who has made significant contributions in helping professionals and immigrants kick-start their careers. With more than 100,000 professionals from over 90 countries benefiting from her career coaching and keynote speaking, she is widely recognized as an award-winning career coach and mentor.

Eno Eka's expertise in business analysis extends to her role as a content developer and course instructor at the University of Manitoba, where she develops and teaches courses on the subject. Her passion for business analysis led her to establish the Business Analysis School, where she helps professionals harness their skills in the field to secure lucrative 6-figure jobs. Additionally, Eno is the CEO of Eny Consulting Inc., where she helps businesses optimize their performance and achieve their revenue goals through the effective use of digital technology. Eno's dedication to the field of business analysis and her commitment to helping professionals and businesses succeed have established her as a respected leader and authority in the industry.

In just six years since arriving in Canada, Eno has touched the lives of thousands of immigrants, curating mentorship and coaching programs that have earned her global recognition and awards. She is a dedicated volunteer and sits on the Board of the IIBA Calgary Chapter as Director of Education, and also volunteers at several non-profit organizations such as the Calgary Region Immigrant Employment Council (CRIEC), Calgary Dream Centre, and the Calgary Drop-in Centre.

Eno is also the host of the Fireside Chat with Eno Livestream Podcast, where she shares valuable insights on job search tips and strategies for new immigrants. She is a Giving Back Sponsor for the Women in Need Society (WINS), and a Campaign Ambassador for the United Nations and the Office of the United Nations High Commissioner for Refugees.

Her remarkable awards and achievements speak for themselves, including Forbes 30 under 30 nominees 2020, Education Category; Alberta Top 30 under 30 recipients 2021; Canada’s Most Powerful Women: Top 100 award Winner 2022; RBC Women of Influence 2020 Award Recipient; and Top 100 Black Women to Watch in Canada 2020 Award Recipient, among others. She was also a Finalist for the RBC Top 75 Canadian Immigrant Awards 2020, Alberta Women Entrepreneurs Nominee 2021, and a Women Empowerment Awards and Women of Impact Awards Nominee in 2022. Additionally, she was a Tällberg/Eliasson Global Leadership Prize Nominee in 2020 and a Black Entrepreneur of the year Finalist in 2022.

Eno's exceptional contributions to the industry have earned her recognition as one of the Top 8 Female Business Analysis Influencers to Watch in 2021, and she is also an IIBA Global Corporate Member and an IIBA Endorsed Education Provider for all IIBA certifications. Her dedication to her profession and to helping others is evident in her numerous achievements, and she continues to inspire and impact the lives of professionals and immigrants alike.

Join Our Community of Canadian Entrepreneurs!

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As an entrepreneur navigating significant life changes and milestones, Jacquie Verenka embarked on a transformative journey of healing and self-discovery. Through this process, she realized the vital importance of prioritizing self-care—a lesson that resonated deeply with many others she encountered along the way. Witnessing firsthand the struggles of those around her ignited a passion to create a space for healing and renewal. This inspiration led to the founding of JV Ventures Retreats, where she aims to provide others with the time and tools they need to reconnect with themselves and embark on their own journeys of growth. Through these retreats, she aims to foster a community of healing and transformation.

Her retreats are designed not only to foster personal growth and well-being among participants but also to create a positive impact in the community. She believes that meaningful transformation extends beyond individual experiences: by partnering with local charities and causes, Jacquie aims to Give Back and support those in need. Each retreat incorporates opportunities for participants to engage with and contribute to these initiatives, fostering a spirit of connection and shared purpose. Together, people can grow while uplifting their community.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

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Wayne McIntyre is the founder and CEO of Relocalize, a cleantech company that is transforming food supply chains by using autonomous micro-factories to decarbonize food production.

With over 20 years of experience in helping technology companies accelerate growth, Wayne brings a diverse background in business strategy, technology, and corporate law. He has a proven track record of leading successful growth transformations, building high-performing commercial teams, and developing and executing Mergers and Acquisitions (M&A) strategies for both large and small technology firms.

Under Wayne’s leadership, Relocalize is disrupting the food and beverage industry by decentralizing manufactured food production, eliminating middle-mile trucking, and significantly reducing greenhouse gas (GHG) emissions. This innovation increases supply chain efficiency for grocery retailers. Wayne’s mission is to create a truck-free future for the food industry, delivering sustainable, eco-friendly products that benefit retailers, consumers, and the environment.

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Scott Barras, Head of Work Dynamics, Canada, for JLL, discusses a recent survey by the commercial real estate company on the Future of Work.

The video can be seen here.

Press Release JLL’s Future of Work Survey uncovers new opportunities for corporate real estate as two-thirds of business leaders expect their CRE budget to increase between now and 2030

 CHICAGO, Sept. 9, 2024 – Despite the challenging commercial real estate landscape and mixed economic environment, global business leaders are bullish on the future, with two-thirds (65%) expecting their CRE budgets to increase between now and 2030, as revealed in JLL’s (NYSE: JLL) Future of Work survey. The biennial, global survey explores the evolving world of work by assessing the key priorities, challenges and strategies that are top of mind for more than 2,300 business and CRE decision makers.

This year’s findings are unveiled through a series of articles exploring key areas of focus for corporate real estate teams: Managing the implications of shifting work patterns; Partnering with the C-suite to support CRE investment; Identifying CRE activities for ‘AI copiloting’; Moving from ambition to action on sustainability commitments; and Defining the future-fit CRE function. The first two articles, launched today, dive into the effects of shifting work patterns on workplace expectations, and what the changing world of work means for the way the CRE function operates as more than 64% of leaders expect to increase and rebalance their headcount by 2030, in an attempt to recruit the right skills for the future.

“Since our 2022 survey, the CRE landscape has become increasingly complex and dynamic, evolving toward better office use. We see that in these results, and in our conversations with clients,” said Neil Murray, Global CEO, Work Dynamics, JLL. “Looking ahead, business and CRE leaders working to drive talent and efficiency throughout their organization must consider the unique needs of their organization, and leverage tools such as tech, AI, and upskilling, as well as strategic partnerships across the value chain to enable the CRE function to reach its full potential as a powerful agent of transformation.”

Competing visions on the most efficient workstyles create renewed CRE challenges

Business leaders are mainly focused on three corporate goals over the next five years: growing revenue through expansion and M&A (57%), attracting and retaining talent (53%) and achieving organizational efficiency (54%). However, the juxtaposition that lies between driving revenue growth through top talent and increasing efficiency requires leaders to delicately balance priorities and assess the role of offices as places that enable employees to deliver their best work.

Strong momentum toward office-based work since 2022 has brought forth expectations among respondents to increase use of office space (62%), where more than half of leaders plan to grow their total footprint over the next five years. Today, 44% of organizations are considered “office advocates,” who would like to see staff in the office five days a week – as compared to 2022, when just 34% of employees were working in the office full time. Hybrid work is here to stay, but the office is central to work again. Today, 85% of organizations have a policy of at least three days of office attendance per week, and 43% expect the number of in-office days to increase by 2030

Globally, hybrid work is more likely to take place at large organizations in EMEA, where hybrid workstyles are considered a key part of the employee value proposition, and largely in sectors including e-commerce, energy & renewables, technology and life sciences. Office advocates alternatively tend to be small-to-medium sized companies in APAC or the Americas, across sectors such as healthcare, retail and manufacturing. Beyond those big trends, the reality is often more complex, with different workstyles coexisting within many organizations.

Today’s office advocates also make a concerted effort to address diverse workplace needs – they are more focused on making accessible workplaces (49% vs. 36% of hybrid adopters), tailored to meet the needs of different generations, cultures, and neurodiversity specificities, and may even pay a premium to occupy buildings with leading health and wellbeing credentials. With office attendance may also come new opportunities for compensation and career advancement– more than a third (39%) of respondents could envision introducing different pay and benefits to employees who attend the office regularly.

“The future of work looks different across companies and regions, reflecting the unique nature of organizations and employee needs. It keeps shifting and requires building evolutionary office programs and spaces, able to adapt to continuous changes in the workstyles,” said Cynthia Kantor, CEO, Project & Development Services, JLL. “Globally, as CRE budgets and footprints receive new investment, the corporate real estate function must effectively partner with the C-suite to demonstrate the desired value.”

The corporate real estate function can serve as a powerful agent of transformation, particularly with the use of technology, AI and the support of strategic partners

 The value the corporate real estate function can deliver will vary depending on the needs of the organization and regional priorities. Globally, business leaders believe CRE can add the most value by supporting business growth (41%), enabling organizational efficiency (38%) and reducing operating costs (37%). Environmental, social and governance (ESG) factors are also an area in which the CRE function is expected to add value, especially in EMEA. Organizations in the Americas are more likely to expect CRE to support business growth, innovation and efficiency, while companies in Asia Pacific are more focused on digitization.

These varying expectations around value require agility throughout CRE functions, in a context where 41% of CRE decision makers report challenges with thinking and investing for the long term due to the pace of organizational change. The same percentage believe CRE is perceived as a cost center, rather than a value driver. Identifying the right metrics and ways to demonstrate value, in addition to strengthening relationships with the C-suite, will ensure CRE is more integrated into the wider business and positioned to quickly adapt to changing priorities – 46% of CRE leaders say influencing and leadership will be critical skills in the future.

Technology is also emerging with greater impacts for CRE, as more decision-makers expect to report to business transformation or technology by 2030. CRE leaders believe that 70% of their activities will be at least partially supported through the use of AI by 2030, and a quarter of the CRE function could be initially completed through automation – freeing up time for more strategic work. Nearly two-thirds (62%) of decision makers see technology and AI adoption as critical for enhancing the value that CRE delivers in the future. A ‘future fit’ CRE team should focus on high value-add tasks internally, while automation and AI take on routine and repetitive tasks and outsourcing partners are brought in for specialist tasks and individual projects.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

businessCanada's Number One Podcast for EntrepreneursCommercial Real EstateentrepreneursentrepreneurshipOfficesmall business

Paul Atherton is the CEO and Co-Founder of Highspire, a premier learning experience for construction company owners, complemented by a powerful venture capital division. With a wealth of experience as a seasoned business coach and professional engineer, Paul has been guiding businesses toward success since 2017. His expertise is deeply rooted in the construction industry, where he has made significant contributions across North America and China, working with clients in key sectors such as onshore/offshore oil and gas, mining, and manufacturing.

Beyond his leadership at Highspire, Paul is a long-time advisor in the construction sector, known for his strategic insight and ability to drive growth and innovation. His commitment to excellence, coupled with his industry-spanning experience, has established him as a trusted figure in helping companies navigate complex challenges and achieve their strategic goals.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Hanson Zhang is one of the owners of Three Bridges Group, a real estate development company. As a Chinese immigrant who moved to Canada 14 years ago, Hanson is captivated by nature's beauty and the Canadian people's warmth. However, the awe-inspiring Niagara Falls left a lasting impression on his family during their North American tour in 2008 before they immigrated As Three Bridges one of their projects is to build a stunning mega mixed-use complex in front of Niagara Falls that matches the natural wonder's beauty. They have purchased the property already and aim to create a space that will serve our beloved tourists in the best possible way.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Renata Reid, a seasoned Sales Associate and Senior Vice President of Sales with 20+ years in Calgary's real estate scene. is a Certified Luxury Home Marketing Professional and Global Real Estate Advisor. She seamlessly blends marketing prowess with senior sales savvy.

A Calgary resident for 21+ years, Renata brings an intimate grasp of the local market. Her commitment to excellence, coupled with a straightforward and sophisticated humor, sets her apart. Renata excels in tailored marketing and exceptional negotiation, making her the go-to for condos, residences, or luxury properties.

Her approach combines thoughtful advice, honest opinions, and unwavering integrity. A top-performing senior agent, Renata fosters trust with her approachable personality.

Committed to the community, she supports local organizations like The Calgary Emergency Women’s Shelter, Canadian Christian Outreach, Rotary Club, Calgary Food Bank, and Mustard Seed.

Renata's passion for unique open houses with live music and special guests adds flair to her real estate expertise. Strategic pricing and a touch of wit make her the ideal choice for those selling their homes.

Active in running, kayaking, and cross-country skiing, Renata mirrors her enthusiasm for the communities she serves. Choosing Renata means a seasoned professional with a dash of wit for an enjoyable real estate journey.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Victoria Taylor, hailing from Vancouver, Canada, is the marketing consultant you want on your entrepreneurial journey. With nine years of experience and a sharp focus on the tech, SaaS, and fintech sectors, she’s not just talking the talk—she’s walking the walk. As the founder of Xisme, Victoria is revolutionizing how businesses create and interact with content. Her professional journey has taught her that success is about more than just hitting targets; it’s about embracing challenges and growing with them. Whether leading workshops or executing game-changing strategies, Victoria brings her unique blend of expertise, wit, and no-nonsense advice to every project. Tune in as she shares the real lessons she’s learned from her path to becoming a successful entrepreneur.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Liran Belenzon is the CEO of BenchSci, a biomedical artificial intelligence company he co-founded in 2016. BenchSci’s mission is to exponentially increase the speed and quality of life-saving research, by empowering scientists to design more successful experiments.

BenchSci has grown to over 300 people and raised more than $200 million from top investors, including Google's Gradient Ventures and F-Prime. BenchSci works with 15 of the world's top 20 pharma companies, over 4,300 academic institutions, and more than 40,000 scientists. As CEO, Liran strives to inspire people to be the best version of themselves and to make a positive impact on the world. Liran emigrated to Toronto, Canada, and completed his MBA at The University of Toronto’s Rotman School of Management. While at Rotman, he worked in the Creative Destruction Lab (CDL), where he met BenchSci co-founders Tom Leung, David Chen, and Elvis Wianda. As a passionate entrepreneur, Liran envisions a future where Toronto and Canada are global leaders in entrepreneurship.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Celine Guo, based in Toronto, Canada, is a dynamic entrepreneur and content creator. After graduating from Boston University's Media Ventures program, she bootstrapped her skincare and lifestyle brand, Sunday Glow, in 2020. Within two and a half years, she grew it into a seven-figure business. Celine continues to drive the expansion and success of Sunday Glow with her innovative vision and strategic expertise.

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

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Nick Palucci, Senior Director, Home Equity Finance Acquisition & Distribution, RBC, discusses a recent report indicating home ownership is still a goal for many Canadians despite affordability challenges and inflation.

The video interview can be seen here.

Nick Palucci

PRESS RELEASE TORONTO, April 23, 2024 – Despite affordability challenges and inflation continuing to impact how and when Canadians buy a home, confidence in making the move to purchase a home is rising. According to RBC’s 30th annual Home Ownership Poll, conducted among Canadians under the age of 65, 60% believe owning a house or condo is a good investment (up from 53% in 2023) and 29% are looking to buy in the next two years (up from 22% in 2023). Two-thirds (64%) say they have always dreamed of owning a home.

At the same time, the research found that half (50%) of Canadians say inflation is eroding their ability to save for a home. This challenge is acutely felt among those planning to purchase a home within the next two years. Among these potential buyers, there has been a 37% decrease in the total amount they have saved to put towards buying a home. Among those who have saved some amount, 36% say they aren’t putting aside money every month for a home purchase (up from 8% in 2023). Even with this setback, 41% of overall potential home buyers say it will take them four years or less to save enough for a down payment.

“Canadians have a lot of headwinds to face as they look to purchase a home today, whether they are a first-time buyer or searching for their next home,” says Janet Boyle, senior vice president, Home Equity Finance & Newcomer Strategy, RBC. “While affordability anxiety remains, our research found that many home buyers are exploring different approaches to realize their dream of home ownership.”

Canadians explore various strategies to cover the cost of home ownership Despite it being harder to save for a home, potential buyers are searching for additional ways to supplement their savings. The majority (57%) say they would need a side hustle or second job and more than a quarter (27%) have had to or would have to live with their parents longer to afford a home. Almost half (45%) also say they would need to overhaul their spending and saving habits to buy a home.

Family also continues to play a big role, with 62% saying financial support from family is necessary to buy a home and 19% saying they have or will need to buy a home with their family/parents. But support from family might not always be available with 39% of respondents saying they want to give family members money for housing or rent, yet can’t afford to do so. The majority (54%) also say they would prefer to have their child/family live with them to help them save money rather than provide financial support.

Mounting costs and inflation putting pressure on next-time home buyers Two-thirds (66%) of next-time home buyers (i.e. those who currently own a home and are likely to buy again in the next two years) are concerned about covering the costs of home ownership. Additionally, half (51%) of next-time home buyers say they are worried about their ability to buy their next home due to inflation.

The research also found that three-quarters of next-time home buyers (76%) believe the housing market in their community is overpriced. Two-thirds (64%) say they wouldn’t be able to purchase their first home in today’s market and the same proportion (64%) believe they would need to move out of the city they are currently living in if they wanted to buy a larger home.

Newcomers are eager to buy in the near future Among newcomers who arrived in Canada in the past five years, 73% say they have always dreamed of owning a home and 65% say they are likely to purchase one in the next two years (compared to 29% nationally). The majority also believe there is only a small window of time to take advantage of lower house prices (56%).

“Whether it’s your first or next home, with so many decisions to make it’s easy to feel overwhelmed when thinking about buying a home,” adds Boyle. “Whether in person or online, getting expert advice and having conversations early can help take a lot of the unknowns and stress out of the home buying process. Having a financial expert on your side who has a full picture of your finances can also help you build a home buying plan that aligns with your finances, goals and lifestyle.”

RBC resources to help home buyers at every step:

RBC True House Affordability Tool: See how much home you may be able to afford and learn about different mortgage options. RBC Home Value Estimator: See what your current home may be worth today. My Money Matters: Whether you are looking to buy your first home, second home, or even an investment property, you can find answers to all your mortgage financing and refinancing questions and helpful resources through RBC’s new online resource hub. Houseful, an RBC Company: From finding a home to financing one, Canadians can simplify their home buying experience with everything they need in one place. Get access to customized home searches, local real estate agents, affordability tools, RBC mortgage specialists and financing under one roof. 2024 RBC Home Ownership Poll

RESPONSE

CAN

BC

AB

SK / MB

ON

QC

AC

NTHB

Newcomers

% Agree – Base: All Respondents

Always dreamed of owning a home

64 %

64 %

54 %

66 %

66 %

64 %

65 %

66 %

73 %

Rising inflation is causing me to save less for buying a home

50 %

51 %

51 %

58 %

50 %

51 %

44 %

64 %

68 %

Would need a side hustle or second job to afford a home

57 %

62 %

58 %

62 %

60 %

47 %

53 %

51 %

75 %

Have/will need to live with my parents longer to save enough to buy a home

27 %

32 %

25 %

30 %

31 %

20 %

19 %

30 %

46 %

Would need to overhaul my spending and saving habits to buy a home

45 %

52 %

43 %

50 %

45 %

38 %

48 %

51 %

49 %

Financial support from family is necessary to buy a home nowadays

62 %

67 %

64 %

58 %

68 %

51 %

56 %

64 %

69 %

Have/will buy a home with my family/parents (co-ownership)

19 %

23 %

13 %

20 %

22 %

14 %

13 %

33 %

41 %

Prefer to help my family/child save money by letting them live with me rather than help them directly financially

54 %

51 %

53 %

55 %

58 %

51 %

51 %

64 %

61 %

We only have a small window of time to take advantage of lower house prices

34 %

36 %

32 %

36 %

39 %

26 %

36 %

50 %

56 %

Housing market in my community is overpriced

77 %

85 %

65 %

76 %

79 %

73 %

82 %

76 %

72 %

% Selected – Base: All Respondents

Buying a house or condo is a good investment

60 %

67 %

60 %

59 %

62 %

50 %

59 %

79 %

79 %

Likely to buy in the next two years

29 %

31 %

31 %

31 %

30 %

27 %

21 %

100 %

65 %

In terms of inflation, concerned about covering the costs of home ownership

58 %

60 %

61 %

65 %

63 %

43 %

60 %

66 %

76 %

In terms of inflation, concerned about my ability to buy a home

44 %

52 %

40 %

41 %

47 %

36 %

39 %

51 %

71 %

Would give family members money for housing or rent, but can’t afford to do so

39 %

40 %

40 %

32 %

39 %

42 %

39 %

30 %

40 %

% “Agree” – Base: Homeowners

While I already own a home, I don’t believe I would be able to purchase my first home in today’s market

69 %

75 %

64 %

63 %

72 %

65 %

76 %

64 %

54 %

If I want to own a home/larger home, I likely will have to move out of the city I’m living in now

51 %

67 %

44 %

43 %

56 %

43 %

47 %

64 %

57 %

*NTHB – next-time home buyers (i.e. those who currently own a home and are likely to buy again in the next two years)

About the Survey An online survey of 2,824 Canadians aged 18 to 64 was completed between January 25 and February 23, 2024, using Leger’s online panel. No margin of error can be associated with a web panel. For comparative purposes, a probability sample of 2,824 respondents would have a margin of error of ±1.8%, 19 times out of 20.

Disclaimer This news release is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

About RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

businessCanada's Number One Podcast for EntrepreneursentrepreneursentrepreneurshipHomeownershipHomesReal Estatesmall business

While average residential sale prices are likely to increase in the majority markets analyzed, there are a couple of outliers where prices are anticipated to be flat or decline, including Toronto, Hamilton, Burlington, Kitchener-Waterloo, Charlottetown, North Bay and London, it said.

The report said 25 per cent of Canadians expressed that saving for a home purchase is one of their top three priorities when it comes to financial savings, despite high cost of living and affordability challenges.

In a video interview, Christopher Alexander, President of RE/MAX Canada, talks about the company’s latest report – the Fall Housing Market Outlook. The video can be seen here.

PRESS RELEASE TORONTO, Sept. 3, 2024 /CNW/ — With the long-anticipated decline in interest rates finally starting to materialize, early indicators from RE/MAX brokers and agents across Canada suggest steady housing market activity this fall. Average sale prices across all housing types are expected to increase between one and six per cent in the majority of regions by year’s end, according to RE/MAX’s 2024 Fall Housing Market Outlook.

Ahead of the next Bank of Canada (BoC) interest rate announcement on September 4, two in 10 Canadians (16 per cent) said they will feel more comfortable engaging in the real estate market once they see there is more than a 100-basis-point cut to the BoC’s lending rate between now and the end of the year, according to a Leger survey commissioned by RE/MAX as part of the report.

Chris Alexander

“The fall market is usually a good early indicator for activity as we look ahead to early 2025, and we’re headed toward more healthy territory. With interest rates starting to ease, buyers are beginning to come off the sidelines,” says Christopher Alexander, President, RE/MAX Canada. “That’s not to say the fall market will be in full swing according to historic standards. Consumers will drive that trend, so we’ll need to see a bigger move by the Bank of Canada for that to happen.”

Consumer Sentiments Going into the Fall Market

Ahead of further anticipated interest rate cuts by the Bank of Canada, it seems that even the mere prospect of lower rates has boosted confidence among first-time homebuyers, with one-quarter of Canadians (25 per cent) actively saving for a home purchase and confident they will be able to buy soon (with the majority being younger Millennials and Gen Zs aged 18-24, at 35 per cent). On the flipside, dropping interest rates now may prove too little, too late for some current homeowners, with 14 per cent saying they need to renew their mortgage soon, and with the current higher interest rate, they may need to sell their home.

When it comes to financial savings, the Leger survey revealed that while a home purchase is listed among the top three priorities for 25 per cent of Canadians, it has taken a back seat to day-to-day expenses such as utilities and food (58 per cent), and travel (45 per cent).

In the search for affordability, one-quarter of Canadians say that they are considering moving to another country (28 per cent) and 25 per cent say they are reconsidering whether to have children or start a family due to housing affordability challenges.

“Despite some consumer confidence starting to return to the market this season, the reality is Canadians are still grappling with some serious housing affordability challenges rooted in lack of supply. Yes, borrowing is becoming less expensive, but this won’t make housing affordable in the long run,” says Alexander. “Markets ebb and flow, and as buyers re-enter the market and absorb inventory, we’ll see more upward pressure on price.

“Ultimately, for the long-term health of Canada’s housing market, we need a national housing strategy developed in collaboration between all levels of government, that’s more strategic and visionary in how we can use existing lands and real estate to boost supply. In the meantime, buyers would be wise to work with an experienced real estate agent to help navigate those cyclical market ups and downs that often accompany this push and pull of supply and demand.”

Regional Market Insights

As part of the 2024 Fall Housing Market Outlook Report, RE/MAX brokers and agents in Canada were asked to share an analysis of their local market between January and July 2023 and 2024 and share their estimated outlook for fall 2024. The majority of regions (76 per cent) anticipate an increase in sale price between one to six per cent, including Greater Vancouver Area, BC; Calgary, AB; Edmonton, AB; Saskatoon, SK; Winnipeg, MB; Halifax, NS; St. John’s Metro, NL; Truro/Colchester, NS; Fredericton, NB; Timmins, ON; Sudbury, ON; Brampton, ON; Mississauga, ON; Niagara, ON; Ottawa, ON; Durham, ON; Barrie, ON; Muskoka, ON; Peterborough, ON; York Region, ON; Kingston, ON; Windsor, ON, and Thunder Bay, ON. Exceptions to the upward trend include Toronto, ON; Hamilton, ON; Burlington, ON; and Kitchener-Waterloo, ON, where a moderate decline between two and three per cent is expected, and Charlottetown, PEI; North Bay, ON, and London, ON, where prices will likely remain flat.

When it comes to listings, a majority of regions surveyed (82 per cent) saw the number of listings increase between 2.3 and 34.7 per cent between January and July (2023 – 2024). The number of sale transactions also increased between 3.1 and 7.4 per cent in Atlantic Canada, 3.4 to 30.9 per cent in Western Canada, and between 0.6 and 14.8 per cent in Ontario, except for some larger Ontario markets like Toronto, Brampton, Durham Region, Mississauga, Peterborough and York Region, where sales trended downward.

According to RE/MAX brokers’ insights, 33 per cent of housing markets are expected to be seller’s markets, but this may shift as competition increases and market conditions evolve.

To view the regional data table, click here.

Western Canada and Prairies

The Prairies continue to skew towards a seller’s market (Edmonton, AB; Calgary, AB; Saskatoon, SK) which is consistent with 2023, except for Winnipeg, MB, which is a balanced market. On the other hand, in Western Canada, inclusive of the Greater Vancouver Area, BC, and Kelowna, BC, a mix of balanced and buyer’s markets are anticipated. Heading into the fall, prices are forecasted to increase by two to six per cent in regions like the Greater Vancouver Area, BC, and Kelowna, BC; Calgary, AB; Edmonton, AB; Saskatoon, SK; and Winnipeg, MB. Sale transactions are anticipated to increase by five to 15 per cent in the Greater Vancouver Area, BC; Edmonton, AB; and Winnipeg, MB; and a decrease of one per cent in Saskatoon, SK, due to inventory shortages, while Calgary, AB anticipates sales will remain flat. RE/MAX broker feedback in Regina, SK indicates that many factors will dictate how the market pans out for the remainder of the year, including government election cycles, The Bank of Canada interest rate announcements and inventory levels. Historically, Regina, SK sees the markets cool from mid-September through the end of the year.

All markets in Western Canada and The Prairies – apart from the Greater Vancouver Area, BC – continue to experience supply challenges, with increased activity in the market, as consumers benefit from recent interest rate cuts. Lower mortgage rates have bolstered consumer confidence in the market but paired with low supply, RE/MAX brokers and agents in the region are reporting aggressive offers in conjunction with sellers raising asking prices for residential homes.

Ontario

Despite The Bank of Canada’s interest rate cuts, low housing supply continues to impact multiple markets across Ontario, keeping prices high. However, some buyers are gaining more confidence as mortgage rates decrease and are slowly re-entering the market heading into fall, keeping prices relatively stable in comparison to the year prior. Housing supply is expected to become a larger issue once further interest rate cuts motivate buyers on the sidelines to re-enter the market and spark more competition.

Although some homebuyer confidence is starting to return, buyers in Toronto remain hesitant as affordability continues to be a challenge, especially for first-time homebuyers.

Across Ontario, 12 regions are expecting average residential prices to remain flat or increase modestly heading into the fall. Increasing markets include Timmins, Sudbury, Brampton, Mississauga, Thunder Bay, and Barrie (each rising five per cent), Peterborough, York Region and Kingston (rising three per cent), Niagara (up two per cent), Durham Region and Ottawa (up one per cent), and London (rising a nominal 0.5 per cent). The outliers to this upward trend are Toronto, Kitchener-Waterloo, Hamilton, and Burlington, which are expecting a price decrease.

In Ontario, seven markets are expected to experience balanced conditions this fall, while four are anticipated to be seller’s markets, and five are buyer’s markets. Four markets are expecting a mix, with three buyers/balanced conditions, and one sellers/balanced market.

Atlantic Canada

Echoing similarities to other regions across Canada, Atlantic Canada is also reporting low inventory supply and increased competition when it comes to buyer activity. Buyers are competing aggressively on affordable housing and new listings, causing prices to spike. This is likely a result of current supply challenges and an increase in out-of-town buyers from Western and Central Canada.

Unlike in 2023, average residential prices in Atlantic Canada are expected to increase for the remainder of year, by five per cent in Truro and Colchester, NS, one per cent in Halifax, NS, 1.5 per cent in St. John’s Metro, NL, and two per cent in Fredericton, NB, while Charlottetown, PEI is anticipated to remain flat. All markets in Atlantic Canada with the exception of Charlottetown – which is a buyer’s market – are considered to be seller’s markets.

Quebec

Like other regions across the country, Montreal’s housing shortage coupled with interest rates have resulted in a seller’s market, with buyers making multiple offers on properties to remain competitive or opting to wait on the sidelines. Pricing and marketing are crucial for sellers looking to attract hesitant buyers.

Additional survey findings:

Majority of Canadians (77 per cent) believe steps taken by municipal, provincial, and federal governments to improve housing inventory and affordability are not enough to solve our affordability crisis and more needs to be done 60 per cent of Canadians believe building more diverse types of housing are the key to solving Canada’s housing supply challenges For 16 per cent of Canadians, rising cost-of-living and affordability challenges have not deterred them at all, and they plan to purchase another home beyond their primary residence soon (or have recently) 40 per cent of Canadians feel Canada is one of the best countries in the world to purchase/invest in real estate (notably this number is higher at 52 per cent, for new Canadians that have been in Canada for less than 5 years) One-third of Canadians (32 per cent) said they are relying on their home as their only financial plan for retirement. About Leger

Leger is the largest Canadian-owned full-service market research firm. An online survey of 1,530 Canadians aged 18 years or older, was completed between August 9 and 11, 2024, using Leger’s online panel. Leger’s online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. A probability sample of the same size would yield a margin of error of +/-2.5 per cent, 19 times out of 20.

About the RE/MAX Network

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in almost 9,000 offices with a presence in more than 110 countries and territories. RE/MAX Canada refers to RE/MAX of Western Canada (1998), LLC and RE/MAX Ontario–Atlantic Canada, Inc., and RE/MAX Promotions, Inc., each of which are affiliates of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides.

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit remax.ca. For the latest news from RE/MAX Canada, please visit blog.remax.ca.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

#business #CanadasNumberOnePodcastforEntrepreneurs #entrepreneurs #entrepreneurship #Homes #Housing #RealEstate #smallbusiness

Steeson Mathew is passionate about innovative ideas and is always looking to promote innovation. Steeson shares his journey from India to Canada, where he studied business management and civil technology. Steeson also shared his past experience working in parking lots while studying. And now as founder of Loop Parking he’s pioneering smart parking solutions for cities. Loop Parking, with its AI-driven ParkSense+ feature, offers drivers real-time parking availability, streamlining city life and reducing congestion.

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Thomas J. Sandrin is a highly experienced marketing and branding professional in the luxury watch industry with over 15 years of expertise. Originally from Paris, he relocated to Canada almost two decades ago and established himself as the Canadian Brand Manager for Hamilton Watches, part of the Swatch Group, where he developed a strong reputation and a deep understanding of luxury brand requirements. Thomas further enhanced his skills by pursuing an MBA with the prestigious Australian Institute of Business.

As the Founder and President of Northern Watch Services Inc. (NWS), Thomas empowers authorized jewellers and luxury brands to enhance their brand presence through various services, including e-commerce, social media support, and marketing consulting. His latest venture, WatchDNA.com, aims to connect jewellers with watch enthusiasts. This platform bridges the gap between watch enthusiasts, jewellers and brands, uniting those who share a passion for timepieces and the unique stories behind them.

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Leigh Christie is a Vancouver-based engineer/entrepreneur with degrees from UBC & MIT. He invented the machine vision robotic heat spotlight, and The Mondo Spider; a 1,500lb walking machine. In 2009 Leigh co-founded MistyWest, a leading product engineering design firm focused on novel sensors, low-power wireless & edge AI. MistyWest recently created an inference/vision edge device called MistyVision.

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Jennifer Layman has worked as a marketing consultant with businesses and entrepreneurial-minded organizations since 2006 and found they often face some common issues. This led her to publish my first book - Forward Thinking for Your Business - to reach a broader business audience.

As a business owner, she understands the responsibilities of running a business and the time constraints that come with it. If marketing advice is going to be impactful, it needs to be succinct and easy to implement without a tremendous requirement of resources. Her book focuses on maximizing marketing opportunities that can help scale your business.

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Raelene Bergen is a renowned leadership consultant, Founder, and CEO of Origin Leadership Consulting. Raelene is a passionate advocate for innovative problem-solving and creative thinking in leadership.

Raelene is the author of the inspirational e-book, Your One Life: A Personal Account. She is a thought leader, motivational keynote speaker, a truly gifted consultant, and a parent of five with a Master’s degree in Leadership. With her wealth of experience in guiding leaders to think outside the box and navigate complex issues, Raelene has developed unique insights and practical strategies that resonate deeply with audiences.

A successful entrepreneur and academic who has raised five kids, Raelene embodies resilience, time management, and the ability to juggle diverse responsibilities. Her personal life enriches her professional work, allowing her to connect with a broad audience on multiple levels.

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Adeyinka Adedoja is the founder of WeivSync, based in Toronto, Canada. Her passion to create WeivSync is rooted in her passion for travel and the challenges she faced as an immigrant navigating a new country. Although she started with a background in finance and economics, working in roles at the Toronto Stock Exchange and as a business analyst in a SaaS company, it was only when she moved into product management that she truly felt energized. This role aligned perfectly with her love for problem-solving and innovation, setting the stage for the creation of WeivSync.

My personal travel experiences, filled with language barriers, missed connections, and serendipitous moments, inspired WeivSync. I wanted to create something that makes solo travel smoother, safer, and more connected. WeivSync is like having a knowledgeable friend who’s always there to help, offering personalized itineraries, real-time translation, and 24/7 assistance.

Traveling has given me countless stories, like getting lost in a foreign city and finding a hidden gem or a miscommunication turning into an adventure. My favorite quote, "We're on offense. All the time," reminds me to take initiative and create opportunities.

I’m excited to share my journey and the creation of WeivSync on Canada Podcast. Whether you’re a seasoned solo traveler or dreaming of your first big adventure, I hope my stories inspire you to explore the world with more confidence and curiosity.

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Craig Senyk is Board Chair at Mawer Investment Management. His true passion is social investment. He is passionate about supporting initiatives and organizations that lead to better outcomes for children, arts, culture and sport. At Mawer, the team responsible for community giving looks for organizations helping to alleviate poverty in the communities they work and live. The three underlying pillars of the Mawer strategy are: education, with an emphasis on financial literacy and empowerment; healthcare, with an emphasis on mental health; and, basic needs, such as food and shelter. Senyk believes that corporate and social entities are not separate entities. Senyk also has launched the Calgary Jamboree for Charity.

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