Canadians Get Another Rate Cut, and Rent Costs Continue to Fall

This week’s top real estate stories.

By  Jared Lindzon | 2 minute read

Every Friday, Wahi brings you the most important real estate stories from the past week. 

The Cuts Continue

Though it was the Bank of Canada’s seventh in a row, this week’s rate cut came with a little more drama and intrigue. That’s because even days before Wednesday’s announcement, the experts we surveyed were split on where the Bank would land. Despite an otherwise healthy economy, the country is facing a potential trade war, slower than expected job growth, and a small increase in prices. In the end, the Bank brought its policy interest rate down another 25 bps to 2.75%, citing “heightened trade tensions” and “more-than-usual uncertainty” despite otherwise “solid growth.”   

Tariff Scare, Don’t Care

The economic outlook might be scary, but don’t tell homebuyers in Toronto. Despite ongoing economic challenges, not to mention the threat of tariffs, GTA buyers bid up real estate prices in February. According to our latest data, twice as many neighbourhoods saw home sales above asking price in February compared to March, with one in five in overbidding territory, marking an eight-month high. Leading the way was Leslieville (Toronto), where homes went for over $175,000 above asking, followed by Westbrook (Richmond Hill) St. Clair West (Toronto), Bridlewood (Scarborough) and West Shore (Pickering). The steepest discounts — which were also in some of the priciest GTA neighbourhoods — were found in Eastlake (Oakville), Mineola (Mississauga), Southwest Oakville, Hog’s Hollow (North York), and Forest Hill (Old Toronto).   

Little Boxes on the Hillside  

Ever wanted to own a home that’s identical to thousands of others across the country? Okay, but what if it came at a huge discount? If so, consider flipping through the Government of Canada’s new Housing Design Catalogue. This collection of about 50 standardized housing plans — including rowhouses, fourplexes, six-plexes and accessory dwelling units — let builders leapfrog some of the usual red tape to speed up construction while lowering costs. The final renderings include floor plans, layouts and other key building details designed to be accessible, adaptable, affordable, energy-efficient, and compliant with all building codes and regulations coast-to-coast. 

Rent Relief  

At least one thing in this country is not getting more expensive. After years of seemingly non-stop price hikes, asking rents fell for the fifth straight month in February compared to the previous year. According to the latest report by Urbanation and Rentals.ca, asking prices dropped 4.8% last month to $2,088, the lowest national average since July 2023. Consistent with recent trends, the biggest drops were in the country’s largest cities, with Toronto, Vancouver and Hamilton all seeing prices fall by about 5%, while Calgary’s prices dropped 7.5%. Mid-sized cities, meanwhile, saw the biggest hikes, led by Quebec City.

Organizing in Chaos 

After several slow years, 2025 was supposed to be a comeback for the real estate industry until President Trump started to sow chaos. But they’re not backing down without a fight. Earlier this week a coalition of the industry’s key players — including the Canadian Real Estate Association (CREA), Habitat for Humanity, and the Canadian Alliance to End Homelessness — came together to develop a 10-point wish list to protect affordability and reduce homelessness in Canada. Top of the list was a housing safety net for Canadians, as well as protections for renters, more community housing, tax reforms and a housing skills agenda for Canada.   

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