Terms and conditions apply; rates are per annum and subject to change without notice. Eligible for CDIC deposit insurance. Non-Registered rates are tiered and based on your balance. 3.00% applies to deposits of $25,000 or more. See WealthONE website for current rates and applicable balance tiers. Highest rate in Canada for non-promotional HISA accounts, as confirmed by WOWA.ca as of June 25, 2026.
Ontario Housing Market Report
- Ontario's average home price decreasedby 1.5% year-over-year to$847,813.
- Greater Toronto Area's average home price decreasedby 4.6% year-over-year to$1,069,700.
- City of Toronto's average home price decreasedby 4.1% year-over-year to$1,108,292.
- Ottawa's average home price decreasedby 1.0% year-over-year to$721,270.
- Mississauga's average home price decreasedby 6.7% year-over-year to$971,047.
- Brampton's average home price decreasedby 6.5% year-over-year to$889,407.
- Hamilton's average home price decreasedby 2.9% year-over-year to$755,202.
Average Home Prices in Ontario for May 2026
Historical Average Home Prices in Ontario
Ontario Average House Prices by City
Ontario Housing Market as of May 2026
Ontario's housing market in Invalid Date saw the average home price decreased to $, down NaN% monthly from Invalid Date. Prices were down NaN% year-over-year from Invalid Date, when the average home price was $.
Regional Insights
Greater Toronto Area (GTA)
The average home price in the GTA in Invalid Date was $, down NaN% year-over-year and down NaN% monthly. The City of Toronto's average home price was $, down NaN% year-over-year and down NaN% monthly.
Elsewhere in the GTA, Brampton's average home price was $, down NaN% year-over-year. Markham's average home price was $1,136,454, down 11.6% year-over-year. Vaughan's average home price was $1,185,018, down 2.9% year-over-year, while Mississauga's average home price was $, down NaN% year-over-year. Hamilton's housing market in Invalid Date saw the average sale price decreased NaN% year-over-year to $.
Ottawa
Ottawa's housing market had an average home price of $ in Invalid Date, down NaN% year-over-year and down NaN% month-over-month. Ottawa's robust job market, particularly in the public sector, and high quality of life make it an attractive destination for Ontario homebuyers.
Kitchener-Waterloo and London
Kitchener-Waterloo and London have seen significant growth in the past few years, with their tech sectors attracting young professionals, although home price growth has slowed. The average home price in the Kitchener-Waterloo-Cambridge Region was $744,032 in Invalid Date, down 5.7% year-over-year and down 1.5% month-over-month.
Terms and conditions apply; rates are per annum and subject to change without notice. Eligible for CDIC deposit insurance. Non-Registered rates are tiered and based on your balance. 3.00% applies to deposits of $25,000 or more. See WealthONE website for current rates and applicable balance tiers. Highest rate in Canada for non-promotional HISA accounts, as confirmed by WOWA.ca as of June 25, 2026.
Price Trends
Ontario Regional Average Home Prices for May 2026
| Region | Average Home Price | Annual Change | Largest City |
|---|---|---|---|
| Central Ontario | $1,026,449 | -6.6% | Toronto |
| Southern Ontario | $740,468 | -5.3% | Hamilton |
| Northeastern Ontario | $696,234 | -6.9% | Barrie |
| Eastern Ontario | $631,923 | -1.8% | Ottawa |
| Western Ontario | $583,442 | -1.0% | London |
| Northern Ontario | $402,042 | +2.4% | Sudbury |
Interest Rates
Despite multiple interest rate cuts from the Bank of Canada between June 2024 and October 2025, Ontario's market has failed to respond positively, unlike many other provinces. Unaffordability and economic uncertainty, particularly related to tariff concerns, appear to weigh heavily on buyer confidence in Ontario's markets.
Housing Markets of Major Cities in Ontario
| City | Average Home Prices (May 2026) | Population (2021) |
|---|---|---|
| Toronto | $1,108,292 -4.1% vs. 2025 | 2,794,356 2.3% vs. 2016 |
| Ottawa | $721,270 -1.0% vs. 2025 | 1,017,449 8.9% vs. 2016 |
| Hamilton | $755,202 -2.9% vs. 2025 | 569,353 6.0% vs. 2016 |
| Mississauga | $971,047 -6.7% vs. 2025 | 717,961 -0.5% vs. 2016 |
| Brampton | $889,407 -6.5% vs. 2025 | 656,480 10.6% vs. 2016 |
Ontario’s Housing Market Forecast: Things to Watch
| Negative Impact | Positive Impact |
|---|---|
| Higher Interest Rates | Higher Immigration Levels |
| Government Policies: | Housing Inventory Shortage |
| Mortgage Stress Test Changes | Stronger Economic Recovery |
| Vacancy Tax and Foreign Speculation Tax | |
| Foreign Buyer’s Ban | |
| Zoning and Increased Supply of Housing | |
| Rent Control |
Housing Markets Across Canada
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