Homebuyers looking for property in small or medium-sized Ontario markets may be hard pressed to find deals in some regions. A report by real estate listing site PropertyMesh identified the areas in which houses were least likely to sell below their asking price.

The report, based on MLS resale records of Ontario houses sold between April and July, found Thunder Bay , Ont. to be city with the lowest number of properties sold below their asking price . It said just 21 per cent of properties in the northern city sold below asking in the second quarter of 2026.

Houses in Thunder Bay were on the market for the second shortest period of time at 12 days. The report said 91 per cent of houses in the city sold within 30 days and 63 per cent sold within 14 days.

Timmins, also in northern Ontario, had the second lowest percentage of properties sold below asking, with 37 per cent.

This was followed by Wilmot, Ont., where 49 per cent of properties sold below the asking price; North Bay, Ont. with 50 per cent, and Waterloo, Ont. with 53 per cent.

Meanwhile, the area with the highest percentage of properties sold below asking price in Ontario was Blue Mountains, Ont., where almost all or 98 per cent sold below asking during the second quarter.

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Also in the top five Ontario areas most likely to sell below asking price are Niagara-on-the-Lake and Wasaga Beach both with 94 per cent, and Owen Sound and Fort Erie both with 93 per cent.

PropertyMesh said at least 90 per cent of properties in Collingwood, Orangeville and Bracebridge also sell below asking price.

• Email: dpaglinawan@postmedia.com

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Northern Beaches Hospital’s dedicated parking lot – which last year generated more than $3.55 million in revenue – has some up for sale through an expressions of interest campaign set to close at the end of September.

The 1,389-bay car park on Frenchs Forest Rd in Frenchs Forest was built in 2018 to service the adjacent 494-bed public hospital. The hospital attracts more than 2,000 patients, staff and visitors a day.

Users are charged about $11 an hour to park their car there, up to about $23 a day.

The car park generated $3.55 million in revenue in FY2025 and has 32 years remaining on its operating tenure to October 2058. No price guide has been released for the sale.

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The freestanding car park has six upper levels, rooftop parking, ground-level parking and two basement levels.

A further 41 bays are excluded from the Car Park Management Deed and do not transfer as part of the sale. The parking lot is open 24 hours a day.

Matthew Meynell, director of capital markets at listing agency Colliers, who is managing the sale, said it was a “rare” opportunity, noting the lot had never been offered up for sale before.

“(It) offers investors a combination of long-term income and genuine upside,” he said.

“The planned expansion of hospital activity to support the health needs of the local community provides an additional structural driver for parking demand over the long term.”

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Northern Beaches Hospital is servicing a growing community.

Northern Beaches Hospital serves a primary catchment of more than 270,000 residents and attracts approximately 730,000 visits annually. More than 1,900 staff are employed at the facility.

Under a novated deed with NSW Health, the car park will remain open and accessible to all patients, staff and visitors.

Parking fees are set in line with NSW Health’s Hospital Car Parking Fees Policy. Staff will continue to receive discounted parking, with concessional parking available to patients and visitors.

The car park is positioned within the Frenchs Forest Strategic Centre, a NSW Government priority growth precinct.

The parking lot generated $3.55m in revenue last year.

The precinct is anchored by the hospital and there are plans to accommodate new housing, employment and supporting infrastructure.

Approximately 5,360 new dwellings and 2,300 additional jobs are proposed across the broader precinct over approximately 20 years.

The Northern Beaches catchment is forecast to grow from approximately 274,000 residents in 2026 to almost 300,000 by 2046.

Colliers associate director of capital markets Catherine Scott said demand for parking was likely to grow.

“Frenchs Forest is undergoing a significant transformation,” she said. “That growth is important for this asset because its demand is fundamentally linked to people accessing the hospital.”

She added that a new owner could potentially boost the site by expanding parking capacity on a “currently underutilisted” rooftop.

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Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development along Sydney’s picturesque Mona Vale Road on Sydney’s Northern Beaches and is eyeing off more sites across the city.

It is operating at the project level – mid-range apartments that listed groups like Stockland and Mirvac rarely take on – and it will have the firepower to build and develop in parts of the market now dominated by private players.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said. “It’s that missing middle – it’s that attainable end of housing … that’s what most Australians invest into and what Australians can actually afford.”

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Mr Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Mr Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Mr Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes. “We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

The company plans to split its developments evenly between a portion devoted to traditional unit selling, and also keeping hold of stakes in the completed products. “A lot of that will be market led,” Mr Scuderi said.

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Mr Green praised local policy settings. “The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

The company is looking at high-density projects and could take on more institutional funding in future. “The way we will be able to achieve economies of scale is through size,” Mr Green said.

The company is capitalising on what it sees as the structural dis­location in the Australian residential sector and believes the build-to-sell living sector is ripe for institutional capital after the initial focus on build-to-rent.

While it is well-funded, Mr Green said the firm “may bring in incremental capital at some point”.

One Living’s first site is at 6-14 Mona Vale Rd on Sydney’s Northern Beaches, in a deal brokered via JLL.

It is the first site for what it intends to become a major residential force and the company has more sites in due diligence.

The Mona Vale site is targeted to provide more than 140 apartments in one of Sydney’s most supply-constrained markets, where underlying demand has outpaced new supply.

One Living’s management brings a collective 100-plus years of experience across residential development, construction, and institutional capital.

Mr Scuderi held senior positions at Mirvac and Landmark Group, and Matthew Finnimore, as joint managing director, brings experience from Macquarie Capital, Future Fund and global real estate private equity.

Industry veteran Brett Mason is non-executive chairman. He was formerly chief executive of Built, with 35 years in construction and executive leadership, and Mr Green will be a non-executive director.

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