Welcome to our first Monthly Housing Newsletter for Newcomers and International Students of 2024!
This year promises to be another roller-coaster ride for newcomers looking for rental accommodations in Canada (and for those interested in buying a home).
Some of the major unknowns affecting the price of accommodations in Canada include:
the direction of the main interest rate, which now sits at 5 percent. When and will the Bank Canada decide to start lowering it? Experts are betting on mid-way through 2024. Stay tuned!
rental prices across the country. As you'll see in this month's rental news story, in Toronto and Vancouver the rate of rent price increases each month appears to be slowing. However, in places such as popular Alberta and Canada's mid-size cities prices are climbing much faster. We'll be keeping an eye on this for you.
the sale and prices of homes. Our story in this newsletter shows that home sales are soft - for now. However, a rebound in sales in prices is forecast by some experts as we head into spring. Is now the right time for newcomers to buy? We'll keep you up-to-date.
So, whether you're seeking to rent or buy remember that your best housing strategy is to always do as much research as possible in advance.
To help you with that, we have two timely offerings:
Our February Canadian Connections Summit, where we link people and places to drive newcomer success. You don't want to miss this FREE event. You can register here.
Our FREE monthly Accommodation in Canada webinar where we provide housing options and solutions for newcomers and international students. You can register here.
And speaking of housing solutions in Canada, in addition to all of the helpful advice and news in this month’s newsletter, we offer these three FREE rental housing solutions for newcomer renters:
Working with a Real Estate Agent (partnering for FREE with a realtor can give you a competitive edge in the search for a rental)
Rooms for Newcomers (becoming a housemate and renting a room in a Canadian home is easy, safe, and cheaper. Registration is FREE)
One of these solutions may be the right one for you and your family. Please check them out.
We hope you enjoy this month's newsletter. You can count on Prepare for Canada and Rentals for Newcomers to keep you up-to-date each month with the latest news, trends and tips about housing in Canada.
David Frattini
Managing Partner
Prepare For Canada
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What Newcomers Need to Know About Renting in Canada
The No. 1 question newcomers to Canada and international students looking to rent grapple with when they arrive is, “Where am I going to live?" Temporarily, it may be a hotel, short-term rental, family, friends or a hostel.
For Newcomers to Canada the Rental Housing Shortage Will Continue
For newcomers to Canada and international students arriving in 2024, two key accommodation trends loom: Alberta will again experience above-average rent increases and Ontario and British Columbia - popular destinations for immigrants - will continue to see below-average rent price growth.
Here’s how you can create your free account on Rentals for Newcomers
Rentals for Newcomers is your most direct route to connecting with landlords in Canada who value newcomers as tenants. We’ve got an always-growing database of landlords who are ready to consider you as their next resident!
For newcomers to Canada looking to buy a home this year, the good news is that the housing market is forecast to remain soft, at least for the first part of 2024, as interest rates remain high.
Canadian Cities With the Cheapest Rents for Newcomers
Let's face it: Finding cheap and affordable rental housing is one of the key challenges facing immigrants when they arrive in Canada.
In fact, one might argue that locating the right place to live is a large part of the settlement process - along with finding a job - when picking which Canadian city to call home.
10 Tips for Saving Money on Rent as a Newcomer to Canada
When searching for your first rental home in Canada, you might be surprised by how high rent prices can soar–especially if you're comparing rentals in big cities. Renters living in Canada's biggest cities, such as Toronto and Vancouver, pay some of the highest rents. But even if you live in a smaller, less expensive town, you may still wish to save some extra money.
Thank you for reading our Housing Newsletter for Newcomers to Canada
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We’d love to hear from you as well. You can message us on the social media platform of your choice and let us know what questions you have about accommodation in Canada!