Canadian Private Lenders’ Podcast

Ep.118 | Why Montreal’s Housing Market Is Beating Toronto & Vancouver

• Neal Andreino and Ryan MacNeil • Episode 118

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0:00 | 35:29

In Episode 118 of the Canadian Private Lenders Podcast, Ryan and Neal break down the latest Canadian jobs data and what rising unemployment means for interest rates and mortgage strategy heading into 2026.

They then turn their attention to a market that rarely gets the spotlight: Montreal. With home sales up, prices rising, and inventory remaining tight, Montreal is emerging as one of Canada’s most resilient major housing markets, especially when compared to Toronto and Vancouver.

The episode wraps with a deep dive into commercial real estate, exploring why office vacancies are finally declining, what’s driving the return-to-office trend, and how lenders and brokers should think about risk, repositioning, and rate structure across asset classes.

Show Notes:

  • 03:17 – December jobs data, rising unemployment, and what it means for rates
  • 07:28 – Fixed vs. variable mortgages: why sentiment is changing
  • 11:59 – Why Montreal stands out in today’s housing market
  • 13:04 – Quebec housing data: prices up, sales strong, inventory tight
  • 17:31 – Toronto & Vancouver cooling: higher prices, weaker demand
  • 20:24 – Calgary & Halifax normalize after post-COVID booms
  • 24:52 – Office market comeback: falling vacancies and return-to-office trends
  • 33:06 – Mortgage strategy heading into 2026: regional risk matters

Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup

Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino

Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca