Latest news with #Wahi
Daily Mail
5 days ago
- Business
- Daily Mail
The $1 million price drop - bustling metropolis sees property prices take a huge dip
Home values have dropped by millions of dollars over the last three years in the Greater Toronto Area, a new analysis found. Ten neighborhoods saw the median sale price of a single-family home fall by 40 percent or more since 2022, according to new research by Wahi, a Canadian real estate listing website and app. Houses in Canada reached their peak values in April 2022, after two years of historically low supply and rock-bottom interest rates spurred by the COVID-19 pandemic. 'Prices for single-family homes have held up better than condos, but Wahi's latest analysis shows how much market trends can vary from neighborhood to neighborhood,' Wahi CEO Benjy Katchen said in a statement. Four neighborhoods in Brampton, the third largest Toronto suburb, were in the top ten in terms of largest percentage drops in value. They included Huttonville (-53 percent), Vales of Humber (-50 percent), Northwood (-44 percent), and Westgate (-40 percent). These areas are among the hardest hit, but the downward trajectory is widespread, with 289 of the 344 neighborhoods that Wahi analyzed having lower prices this year than in April 2022. Windfields, an upper-middle class area northeast of downtown Toronto, had the biggest home price decline as a raw number. The median sale price of a Windfields home declined by $3.1 million since 2022, when a property cost a whopping $6.3 million. Windfields saw a $1 million bigger drop than Wanless Park, the next biggest loser at a $2.2 million decrease over the same period. Some experts view these price cuts as the market coming back down to earth from an artificial pandemic-era boost caused by quantitative easing. Between 2020 and March 2022, home values across the nation surged by about 65 percent. This didn't last because the Bank of Canada, like the US Federal Reserve and most other central banks around the world, raised interest rates to stifle inflation. Higher interest rates make it harder for home buyers to obtain favorable mortgage terms, while also incentivizing home owners to stay in their current residence. Although Canada has been gradually lowering rates since June of last year, the market is not expected to experience same historic levels of price growth as it did in the pandemic, according to a report from the Bank of Montreal. In March 2025, Bank of Montreal Senior Economist Robert Kavcic said that even though resale prices have found a floor in many markets, it will take years before homes return to their 2022 peak values. Assuming there is a stable economy, steady wage growth and neutral interest rates, the investment bank predicts the market will return to 2022 highs in 2029. A recent report from TD, the second largest consumer bank in Canada, offered a rosier outlook on the housing market going into 2026. 'There's been a cloud of uncertainty that has contributed to the negative buying sentiment that's weighed on the housing market,' TD Economist Rishi Sondhi said. 'TD Economics thinks some of that uncertainty should wane in the back half of this year and dissipate even further into 2026.' Sondhi acknowledged that condos in Toronto have declined and said they will likely continue to do so through to the end of the year. The bank forecasts that condo prices will have dropped by 15 to 20 percent since 2023. The ebb in prices doesn't have to be a bad thing, Sondhi added, saying it could be a signal for a resurgence just around the corner. 'Affordability in the GTA condo space has improved because we have seen declining prices since the third quarter of 2023,' he said. 'So, as prices have come down, affordability has improved, which could help the condo market get off the ground a little bit more in 2026.' All data included in Wahi's analysis is sourced from the Toronto Regional Real Estate Board and Information Technology Systems Ontario.
Daily Mail
6 days ago
- Business
- Daily Mail
Report: Home values drop by millions in Greater Toronto Area
Home values have dropped by millions of dollars over the last three years in the Greater Toronto Area, a new analysis found. Ten neighborhoods saw the median sale price of a single-family home fall by 40 percent or more since 2022, according to new research by Wahi, a Canadian real estate listing website and app. Houses in Canada reached their peak values in April 2022, after two years of historically low supply and rock-bottom interest rates spurred by the COVID-19 pandemic. 'Prices for single-family homes have held up better than condos, but Wahi's latest analysis shows how much market trends can vary from neighborhood to neighborhood,' Wahi CEO Benjy Katchen said in a statement. Four neighborhoods in Brampton, the third largest Toronto suburb, were in the top ten in terms of largest percentage drops in value. They included Huttonville (-53 percent), Vales of Humber (-50 percent), Northwood (-44 percent), and Westgate (-40 percent). These areas are among the hardest hit, but the downward trajectory is widespread, with 289 of the 344 neighborhoods that Wahi analyzed having lower prices this year than in April 2022. Windfields, an upper-middle class area northeast of downtown Toronto, had the biggest home price decline as a raw number. The median sale price of a Windfields home declined by $3.1 million since 2022, when a property cost a whopping $6.3 million. Windfields saw a $1 million bigger drop than Wanless Park, the next biggest loser at a $2.2 million decrease over the same period. Some experts view these price cuts as the market coming back down to earth from an artificial pandemic-era boost caused by quantitative easing. Between 2020 and March 2022, home values across the nation surged by about 65 percent. This didn't last because the Bank of Canada, like the US Federal Reserve and most other central banks around the world, raised interest rates to stifle inflation. Higher interest rates make it harder for home buyers to obtain favorable mortgage terms, while also incentivizing home owners to stay in their current residence. Although Canada has been gradually lowering rates since June of last year, the market is not expected to experience same historic levels of price growth as it did in the pandemic, according to a report from the Bank of Montreal . In March 2025, Bank of Montreal Senior Economist Robert Kavcic said that even though resale prices have found a floor in many markets, it will take years before homes return to their 2022 peak values. Assuming there is a stable economy, steady wage growth and neutral interest rates, the investment bank predicts the market will return to 2022 highs in 2029. A recent report from TD , the second largest consumer bank in Canada, offered a rosier outlook on the housing market going into 2026. 'There's been a cloud of uncertainty that has contributed to the negative buying sentiment that's weighed on the housing market,' TD Economist Rishi Sondhi said. 'TD Economics thinks some of that uncertainty should wane in the back half of this year and dissipate even further into 2026.' Sondhi acknowledged that condos in Toronto have declined and said they will likely continue to do so through to the end of the year. The bank forecasts that condo prices will have dropped by 15 to 20 percent since 2023. The ebb in prices doesn't have to be a bad thing, Sondhi added, saying it could be a signal for a resurgence just around the corner. 'Affordability in the GTA condo space has improved because we have seen declining prices since the third quarter of 2023,' he said.
Cision Canada
24-07-2025
- Business
- Cision Canada
Young Canadians Feel the Most Pressure to Buy Property, Wahi Survey Finds
Societal expectations are driving homebuying stress for Gen Z and millennials TORONTO, July 24, 2025 /CNW/ - A new national survey from Canadian real estate platform Wahi reveals that young Canadians are feeling significantly more pressure to purchase property than previous generations — and that pressure is comparable to societal expectations around marriage and having children. Wahi's 2025 Homebuying Pressure Point Survey, a new survey among Angus Reid Forum members, found that 54% of millennials and 41% of Gen Zers have been under pressure to own a home — well above the national rate of 34%. In contrast, only 30% of Gen Xers and 13% of baby boomers (the groups with the highest homeownership rates) say the same. "As Canadian home values have increased over the decades, so has the pressure to own real estate," says Wahi CEO Benjy Katchen. "While buying a home can be a smart long-term decision, it's critical for Canadians to take their time, do their research, and buy based on personal readiness — not pressure." Other survey findings include: Millennials are most likely to self-identify as the generation to face the most pressure to own property (47%), followed by Gen Z (40%), Gen X (39%), and baby boomers (36%). Societal expectations are the top source of pressure for Gen Z (59%) and millennials (55%) compared to Gen Xers (33%) and baby boomers (33%). Gen Z feels equal pressure to buy a home as they do to have children (43%) or get married (43%); For millennials, the pressure to have children (53%) was about as widespread as the pressure to own property (54%), while the pressure to get married was less (43%) Pressure to buy is lowest in Quebec (26%) and Atlantic Canada (29%), and highest in Alberta (41%) and B.C. (39%). 81% of boomers and 74% of Gen Xers own property in Canada, versus 61% of millennials and 21% of Gen Z. 55% of non-owners are unhappy with not owning a home. 50% of Canadians believe renting is viewed unfavourably. 62% of respondents underestimate Canada's homeownership rate, believing it's 50% or less. Wahi's survey uncovers a generational divide in attitudes toward homeownership, revealing that societal expectations continue to shape the way young Canadians approach major life milestones — including buying a home. See the complete 2025 Homebuying Pressure Point Survey results.
Time of India
24-07-2025
- Business
- Time of India
Lotte India aiming to achieve turnover of 3,000cr by 2027
Chennai: With the successful completion of the Lotte-Havmor merger, Lotte India is aiming to achieve a turnover of Rs 3000 crore by 2027. The company is set to achieve a turnover of over Rs 2,000 crore in CY25 said an official statement. Lotte India is lining up a capex of Rs 475 crore for FY25-26 as part of its product line expansion. According to Lotte India MD Milan Wahi, that would include Rs 225 crore spend on the company's just launched Pepero product which is being manufactured in its Rohtak plant. "We are also putting another new line for ChocoPie and we're also creating a new warehouse at Rohtak so all put together we will spend Rs 475 crore by December 2026," he said. The company also has a facility in Chennai. "In 2023, we invested approximately Rs 300 crore because we put up a new line there," said Wahi. "We had an existing line of ChocoPie and we put up a new line at Chennai. That expenditure is already finished so we are looking at Rohtak now," he added. The company's confectionary division is clocking an EBITDA of 13% on the back of the overall snacks market doing 13-14% growth. "Overall snacks, including salty snacks, chips plus biscuits and chocolate is a total Rs 1.7 lakh crore market growing at double digit of 13% to 14%," he said. And while city-wise Delhi is the number market for Lotte India, it is followed by Chennai and Hyderabad. "Chennai is opening up. There's a cosmopolitan crowd coming in, a lot of crowd coming from outside for IT etc so the locals are trying out new things. " You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai
Time of India
24-07-2025
- Business
- Time of India
Lotte India debuts biscuit snack PEPERO, eyes Rs 2,000 crore revenue in 2025
Lotte India, part of the South Korean conglomerate Lotte Group, expanded its product portfolio with the launch of its first biscuit snack, PEPERO, in India, as it aims to achieve Rs 2,000 crore in revenue this year. Available in 'original' and 'crunchy' flavours, PEPERO is Korea's No 1 biscuit snack brand and has been exported to over 56 countries, Lotte India managing director Milan Wahi said. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Product Management Project Management Artificial Intelligence Management Cybersecurity Healthcare Data Analytics Data Science Leadership Digital Marketing Others healthcare Public Policy Degree MBA Operations Management MCA Finance Design Thinking others CXO Data Science Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details "What we will be selling here is slightly sweeter compared to the variant sold in Korea. We have worked on the product for a long time, keeping in mind Indian preferences. Indians generally prefer slightly sweeter snacks. This is a 'made in India' product and also marks Lotte India's entry into the biscuit snack category," he told reporters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Explaining the rationale behind the launch, he said the Indian snacking market is evolving, with consumers seeking products that resonate with their lifestyle, emotions, and identity. "We are positioning PEPERO in the mass-premium segment, targeting Gen Z consumers, who make up about 377 million people in India," he said. Live Events "PEPERO celebrates diversity," he added. The PEPERO brand currently accounts for a USD 1.3 billion market in Korea, and the Lotte Group aims to expand it to USD 13 billion over the next 10 years, Wahi said. "We are launching it in India as the first market. Later, we will begin exporting from here to the Middle East and Far Eastern countries," he noted. "We will also introduce Indian variants of PEPERO in the future," he added. The Rohtak plant in Haryana is Lotte India's first manufacturing facility outside Korea, and the company has earmarked Rs 475 crore in investments, Wahi said. Of this investment, Rs 225 crore is allocated to the PEPERO business, and around Rs 15 crore has been set aside for the brand's marketing campaign, he added. A single pack of original PEPERO is priced at Rs 20, while the crunchy variant is priced at Rs 30. The 'home pack' of original PEPERO costs Rs 50, and the crunchy 'home pack' is priced at Rs 70, he said.
