Hamilton Real Estate Update

Please don't hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you're just curious about what the house down the street sold for – it'd be great to hear from you!

Bank of Canada Rate Update

The Bank of Canada reduces its policy rate by 25 basis points.

The Bank of Canada has reduced its overnight rate by 25 basis points to 2.75%, citing ongoing economic uncertainty driven by trade tensions and slowing global growth.

While inflation remains close to the 2% target, concerns about weakening consumer confidence and business investment have led policymakers to ease borrowing costs further.

For the real estate market, this rate cut could provide a boost, as lower interest rates typically lead to reduced mortgage costs, making homeownership more accessible for buyers.

This could encourage more activity in the housing market, particularly among first-time homebuyers who have been priced out in recent years.

Sellers may also benefit from increased demand, especially in markets where affordability has been a concern.

Recent interest rate cuts have already contributed to stronger economic growth, particularly in consumer spending and housing.

However, the Bank of Canada remains cautious about the impact of global economic uncertainty, including potential tariff changes that could influence inflation and overall market stability.

The next interest rate announcement is scheduled for April 16, 2025, when the Bank will provide a more detailed outlook on the economy and inflation.

In the meantime, homebuyers and sellers can expect borrowing conditions to remain favourable, though market dynamics will continue to be shaped by broader economic factors.

Reminder to Property Owners-Declare Vacant Unit Tax

HAMILTON, ON – The City of Hamilton’s new Vacant Unit Tax (VUT) declaration period opens today, marking an important step in the City’s efforts to address Hamilton’s affordable housing crisis. The program aims to increase the supply of housing in Hamilton by encouraging residential property owners to occupy or rent their properties rather than leaving them vacant.

All residential property owners must submit their 2024 occupancy status

All residential property owners are required to declare the occupancy status of their properties for the 2024 tax year by Wednesday, April 30, 2025. Failure to submit a declaration by the deadline will result in the residential unit being deemed vacant, and the Vacant Unit Tax will be applied. Following the recovery of administrative costs, revenues generated from the Vacant Unit Tax will be reinvested into affordable housing initiatives.

“The Vacant Unit Tax is a clear example of our commitment to tackling the affordable housing crisis head-on,” said Mayor Andrea Horwath. “We are doing everything in our power to increase housing availability and affordability for Hamiltonians, and this program is just one of many tools we’re using to ensure everyone in our city has a place to call home.”

Key Program Details

• Who needs to declare: All residential property owners in Hamilton.
• Deadline: Wednesday, April 30, 2025
• Vacant Unit Tax rate: One per cent of the property’s current assessed value for vacant properties.
• How to declare: Residential property owners can submit their declaration online at hamilton.ca/VacantUnitTax or by phone at 905-546-2573
• What is considered a vacant unit: A property is considered vacant if it is unoccupied for more than 183 days in the previous calendar year or as defined under the by-law.
• Exemptions: Principal residences, death of an owner, major renovations (with a valid building permit), sale of the property, principal resident in care (hospitalized or in long-term/supportive care), court order, and non-profit housing.Full exemption details are available at hamilton.ca/VacantUnitTax.
• Residential units deemed vacant will be charged one percent of the property's current assessed value. This amount will be added to the final property tax bills mailed in June 2025.
• “Everyone deserves a place to call home,” said Marnie Cluckie, City Manager. “By implementing the Vacant Unit Tax, we’re taking an important step toward increasing housing availability for our residents and ensuring we make the best use of our existing housing supply.”
• Residents who need assistance completing their declaration can contact the City via email at vacantunittax@hamilton.ca or by calling 905-546-2573.

Quick Facts

• The VUT applies to all properties classified as residential under the Municipal Property Assessment Corporation (MPAC), including single-family detached, townhouses, row houses, and multi-family dwellings (duplexes to sixplexes). In Hamilton, this represents approximately 180,000 properties.
• The City conducted a Vacant Home Tax online engagement survey in September 2021. More than 91 per cent of respondents supported the idea of a Vacant Home Tax or Vacant Unit Tax (VUT).
• Other Canadian cities implementing similar VUT programs include Toronto, Ottawa, and Vancouver.

Reminder-Book Tickets to Our 25th Anniversary Charity Of Hope!!

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A Few Fixture Facts

Specifying which fixtures are included when buying or selling a home is key.

Imagine the excitement as you walk through your new home a few days before closing for your final inspection.

Your joy quickly turns sour though when you discover the antique chandelier you fell in love with is no longer there.

Now, imagine you're the sentimental seller who has already taken down and packed up your cherished antique chandelier, and now you’re faced with an angry buyer who’s demanding that it be put back up.

Unfortunately, this type of scenario plays out all too often. Here are a few points to consider that’ll help save you from falling into a similar scenario:

The Fix Is In
A fixture is an item that is physically attached to the home, such as a ceiling fan or a curtain rod. These items are typically included unless stated otherwise.

Chattel Challenge
A chattel, on the other hand, is an item that can be easily removed without causing physical damage, such as a hanging mirror or a fridge. These items usually aren’t included.

List It or Lose It
Real estate law isn’t always black and white when it comes to fixtures and chattels, so it’s important to make a list of your exclusions ahead of time.

Unattached
It’s best to remove any fixtures that have sentimental value before you put your home on the market. That way, the buyer won’t feel like they’re missing out on anything.

No Rough Edges
There’s usually a bit of damage left behind when a fixture is removed, so let the buyer know you’ll make the necessary repairs to help put their mind at ease.

Chattels and fixtures can often be subjective. To avoid unnecessary confusion and possible legal action, be sure to proactively specify your exclusions as soon as you put your home on the market.

Whether you’re buying or selling, you’ll want a smooth transaction where both parties can move on (or move in) with good vibes!

Foolproof Ways to Babyproof Your Home

Little ones love to explore, so it’s important that you properly prep your home!

The arrival of a new baby brings many responsibilities, one of which is babyproofing your home. Here are a few things to keep in mind when preparing your home for your new little bundle of joy:

Slam Jam
Install door stops and holders so that their fingers don't get caught.

Cabinet Caution
Make sure cabinets and drawers are equipped with safety latches.

Tie Up Loose Ends
Tie up the cords from your blinds and curtains so they’re out of reach.

Don’t Cut Corners
Cover any sharp corners, such as those on coffee tables, with foam padding.

It's No Shock
Cover electrical outlets with safety plugs so they can’t shove keys or other objects into them.

Strong Attachments
Tether shelves and dressers to the wall so they won’t tip over if your little one starts climbing them.

Gate Guardian
Install a baby gate at the top and bottom of your staircase. Make sure they're attached directly to the wall and not just pressure-mounted.

Babies have a natural born need to explore their new surroundings. To help see things from their perspective, get down and crawl around on all fours to identify any potential hazards.

Whatever you do, don’t leave it until the last second. It’s best to babyproof your home before your little one arrives, as it'll be the last thing on your mind when you're a tired new parent.

For Lease-71 Hildegard Dr. in Hamilton

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Sold! (In A Week) - 138 Sekura Cres.

CONDITIONALLY SOLD-34 Norwich Rd

FOR SALE! 725 MUD ST. in Upper Stoney Creek

Wondering What Your Home's Worth?

The Hamilton real estate market is constantly changing.

If you’re wondering what your home’s currently worth in today’s market, just reach out for a home evaluation.



There’s no cost for this service – it’s on the house! 🏡📊

P.S. Please let us know if you'd ever like a hand finding your dream home or even if you're just curious about what the house down the street sold for. We are always happy to help