Federal and provincial governments have stepped in with taxes, restrictions, and “cooling measures” that may have slowed runaway prices in some regions but have also made the path to homeownership even more uncertain.
According to recent data, the median home price in Canada now sits around $776,400 CAD – a figure that would raise eyebrows in many U.S. states. Prices vary by city, property type, and region, but the trend is clear: housing remains expensive, and for many Canadians, ownership feels out of reach. While prices in about one-third of Canada’s major markets have dipped, affordability remains a major challenge.
A Market Built on Growth – and Interrupted by Policy
From the early 1980s, when the average home cost $72,500, to 2015’s $439,100, and now to today’s near-$800,000 levels, Canadian real estate has historically rewarded those who got in early. Major cities like Toronto, Vancouver, Calgary, and Montreal have seen bidding wars, foreign investment, and record-breaking sales.
But over the past decade, governments have intervened with taxes and restrictions aimed at cooling the market:
- British Columbia’s 15% foreign buyers tax in 2016 (later raised to 20%) caused a 33% drop in Vancouver home sales almost overnight.
- Ontario’s 2017 Fair Housing Plan introduced a similar tax, rent caps, and a vacant home levy, which led to a sharp (though short-lived) decline in Toronto’s market.
While these measures may have temporarily slowed price growth, they also reduced building activity, discouraged investment, and created long-term uncertainty for buyers, sellers, and lenders alike.
The Bigger Problem – and the Risk for Buyers
When governments tinker with market forces, they disrupt the natural cycle of growth, correction, and recovery. Instead of letting the market adjust organically, artificial controls can trap people in rentals longer, shrink mortgage options, and concentrate lending power in the hands of big banks.
Private mortgage lending – historically a lifeline for borrowers who don’t fit the banks’ strict boxes – has already started to shrink. Fewer independent brokers and lenders means fewer flexible solutions, leaving borrowers at the mercy of traditional lenders with tighter criteria.
Where Lendworth Fits In
At Lendworth Canada, we believe homeownership shouldn’t be dictated solely by political shifts or rigid bank policies. As an equity-based lender, we focus on the value of your property – not just your income or credit score.
- ✅ Flexible approval criteria – perfect for self-employed borrowers, newcomers, or those with non-traditional income.
- ✅ First and second mortgages tailored to your needs.
- ✅ Fast closings when timing matters most.
- ✅ Solutions when the banks say “no.”
In a market where rules keep changing and affordability is under pressure, we’re here to keep Canadians moving toward their homeownership goals.
The Bottom Line
Canada’s housing market is complex, competitive, and often politically charged. But with the right strategy – and the right lending partner – your dreams don’t have to be put on hold.
If you’re ready to explore mortgage options beyond the big banks, Lendworth Canada is ready to help you take the next step.
📞 Call us today at 905-597-1225 or visit www.lendworth.ca to see how we can turn your equity into opportunity.