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Canada's Federal Election 2025: A Nation Prepares to Vote

On Monday, April 28, Canadians will head to the polls to elect members of the House of Commons for the 45th Canadian Parliament. This election marks a pivotal moment in the nation's political landscape, with key issues such as climate change, economic recovery, and healthcare reform dominating party platforms. Advance polls have already seen record-breaking participation, with over 7.3 million Canadians casting their votes early. The election will also introduce a new 343-seat electoral map, reflecting changes from the 2021 census. As the nation gears up for election day, voters are encouraged to check their registration status and polling locations through the Elections Canada website. With the stakes high and the future uncertain, this election promises to shape Canada's trajectory for years to come.
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Luxury Real Estate Market Sees Significant Sales Surge in Q4

 

The luxury real estate market in the Greater Toronto Area (GTA) experienced a remarkable sales surge in the fourth quarter of 2024, according to a recent report by Re/Max Canada. Homes valued over $3 million saw a 40.5% year-over-year increase in sales, with 364 homes sold in the $3 million to $5 million range. This surge was primarily driven by the Bank of Canada's recent rate cuts, which sparked demand for high-end properties.

Sales of homes priced between $5 million and $7.5 million rose by 58.5%, while those between $7.5 million and $10 million climbed by 41.2%. The central bank's back-to-back 50 basis point cuts in October and December were cited as the primary catalysts behind this increased buyer enthusiasm.

Re/Max Canada President Christopher Alexander noted that the economic climate and pent-up demand contributed to this surge, setting the stage for a strong luxury market in 2025. The firm predicts a five percent increase in the national average residential price over the course of the year, as optimism about the housing market grows among Canadians.

This uptick in luxury home sales is expected to have a positive impact on the broader housing market, with increased activity anticipated in 2025.




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