Even if this is the last dip for a while, economists believe that first-time homebuyers may have a substantial edge.

Specifically, since this cut runs alongside recent amendments to insured mortgages (which boost the national price cap to $ 1.5 million) and the expansion of amortizations for first-time buyers — moving the timeline up to 30 years.

Rishard Rameez, who operates the Ontario-based real estate platform Zown, has been assessing these market trends to understand what 2025 may look like for would-be home buyers in Ontario.

“This December has been very different for us compared to last year. As of now, we are seeing a significant increase in inbound calls from people preparing a home purchase. Over the next two or three months, we are likely going to see a 20 to 30 per cent increase in first-time home buyers,” Rameez told INsauga.com.