July 2014 Ontario Economic Fundamentals
- Thread starter Ally
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Rent on the rise in Oshawa
The number of vacant apartments in Oshawa hasn`t budged. Rent, on the other hand, continues to rise.
A report from the Canada Mortgage and Housing Corporation found the vacancy rate in the Oshawa census metropolitan area (CMA), which includes Whitby and Clarington, was 1.6 per cent in April. It was the exact same rate as the one a year earlier, in April 2013.
Read the full article here.
The number of vacant apartments in Oshawa hasn`t budged. Rent, on the other hand, continues to rise.
A report from the Canada Mortgage and Housing Corporation found the vacancy rate in the Oshawa census metropolitan area (CMA), which includes Whitby and Clarington, was 1.6 per cent in April. It was the exact same rate as the one a year earlier, in April 2013.
Read the full article here.
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Ottawa to study landlord licenses near Algonquin College
The city will study possible licensing of landlords near Algonquin College and other regulations for rental housing.
The review was instigated by College Ward Coun. Rick Chiarelli, whose constituents are increasingly concerned about illegal rooming houses where homes are converted into more than four dwelling units.
Read the full article here.
The city will study possible licensing of landlords near Algonquin College and other regulations for rental housing.
The review was instigated by College Ward Coun. Rick Chiarelli, whose constituents are increasingly concerned about illegal rooming houses where homes are converted into more than four dwelling units.
Read the full article here.
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Rental housing crisis needs focus from all government levels
There`s a housing crisis in York Region.
Fear not, there are still plenty of homes on the market, new ones continue to be built in our communities and prices are up and heading higher still. No, the issue to which we refer deals with those on the outside looking in when it comes to our generally affluent region.
Read the full article here.
There`s a housing crisis in York Region.
Fear not, there are still plenty of homes on the market, new ones continue to be built in our communities and prices are up and heading higher still. No, the issue to which we refer deals with those on the outside looking in when it comes to our generally affluent region.
Read the full article here.
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London-St. Thomas real estate market surging
A huge spring spike in London-area home sales ` the likes of which realtors haven`t seen since before the recession` begs the question.
Does all that home-buying ` sales up 23.4% in June over the same month last year, on top of a solid 5% increase in May ` add up to another sign the region`s hard-hit economy is finally pulling out of the doldrums?
Read the full article here.
A huge spring spike in London-area home sales ` the likes of which realtors haven`t seen since before the recession` begs the question.
Does all that home-buying ` sales up 23.4% in June over the same month last year, on top of a solid 5% increase in May ` add up to another sign the region`s hard-hit economy is finally pulling out of the doldrums?
Read the full article here.
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Ontario debt rating outlook cut negative by Moody's
TORONTO ` Moody`s credit rating agency changed the outlook on Ontario`s debt rating Wednesday to negative from stable, citing concerns about the province`s ability to eliminate a $12.5 billion deficit by 2017-18 as scheduled.
`After several years of weak to moderate economic growth, and higher than previously anticipated deficits projected for the next two years, the province is facing a greater challenge to return to balanced outcomes than previously anticipated,` Moody`s Investors Service said in a statement.
Read the full article here.
TORONTO ` Moody`s credit rating agency changed the outlook on Ontario`s debt rating Wednesday to negative from stable, citing concerns about the province`s ability to eliminate a $12.5 billion deficit by 2017-18 as scheduled.
`After several years of weak to moderate economic growth, and higher than previously anticipated deficits projected for the next two years, the province is facing a greater challenge to return to balanced outcomes than previously anticipated,` Moody`s Investors Service said in a statement.
Read the full article here.
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Toronto Real Estate Board reports commercial market figure
TORONTO, ONTARIO -- (Marketwired) -- 07/04/14 -- Stepping into his role as President of the Toronto Real Estate Board, Paul Etherington announced a year-over-year increase in combined industrial, commercial/retail and office space leased through the TorontoMLS system in the second quarter of 2014. There was over 5.8 million square feet of total space leased in Q2 2014 - up by 15.6 per cent compared to Q2 2013. At over 4.2 million square feet, the amount of industrial space leased was up by 10.8 per cent year-over-year. The industrial segment accounted for almost three quarters of total leased space.
Annual change in average lease rates was mixed. The average industrial lease rate, for properties leased on a per square foot net basis for which pricing was disclosed, was $5.10 - up by 5.5 per cent in comparison to Q2 2013. The average commercial lease rate was down by 2.4 per cent to $18.93 per square foot net. The average office lease rate was essentially unchanged compared to the same time frame last year.
Read the full article here.
TORONTO, ONTARIO -- (Marketwired) -- 07/04/14 -- Stepping into his role as President of the Toronto Real Estate Board, Paul Etherington announced a year-over-year increase in combined industrial, commercial/retail and office space leased through the TorontoMLS system in the second quarter of 2014. There was over 5.8 million square feet of total space leased in Q2 2014 - up by 15.6 per cent compared to Q2 2013. At over 4.2 million square feet, the amount of industrial space leased was up by 10.8 per cent year-over-year. The industrial segment accounted for almost three quarters of total leased space.
Annual change in average lease rates was mixed. The average industrial lease rate, for properties leased on a per square foot net basis for which pricing was disclosed, was $5.10 - up by 5.5 per cent in comparison to Q2 2013. The average commercial lease rate was down by 2.4 per cent to $18.93 per square foot net. The average office lease rate was essentially unchanged compared to the same time frame last year.
Read the full article here.
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Greater Toronto Realtors report resale housing figures
TORONTO, ONTARIO--(Marketwired - July 4, 2014) - Stepping into his role as President of the Toronto Real Estate Board, Paul Etherington announced a strong increase in residential sales reported through the TorontoMLS system in June. Sales were up by 15.4 per cent year-over-year to 10,180 transactions. New listings were also up compared to the same period in 2013, but by a lesser annual rate. This means that competition between buyers increased in June.
"Home buyers in the Greater Toronto Area are confident in their ability to purchase and affordably pay for a home. Generally speaking, buyers feel that ownership housing will be a good investment over the long term. This is why we continued to see increases in home sales in June for all major home types across the GTA. Given the degree of pent-up demand in the market today, I would expect to see sales growth continue through the summer," said Mr. Etherington.
Read the full article here.
TORONTO, ONTARIO--(Marketwired - July 4, 2014) - Stepping into his role as President of the Toronto Real Estate Board, Paul Etherington announced a strong increase in residential sales reported through the TorontoMLS system in June. Sales were up by 15.4 per cent year-over-year to 10,180 transactions. New listings were also up compared to the same period in 2013, but by a lesser annual rate. This means that competition between buyers increased in June.
"Home buyers in the Greater Toronto Area are confident in their ability to purchase and affordably pay for a home. Generally speaking, buyers feel that ownership housing will be a good investment over the long term. This is why we continued to see increases in home sales in June for all major home types across the GTA. Given the degree of pent-up demand in the market today, I would expect to see sales growth continue through the summer," said Mr. Etherington.
Read the full article here.
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Why invest in Waterloo?
Video production authentically illustrating the story of `Why Waterloo Region?` Through conversations with six high-profile, business leaders whose companies have a diverse historical presence in the Region; the video highlights their unique perspective on the character and strengths of Waterloo Region.
Driving the project was to depict how, transformation and evolution, through innovation, is an elemental strand right in the DNA of Waterloo Region. Through sharing their organization`s history, the individual Success Story Vignettes highlight Waterloo Region`s aggressive entrepreneurial spirit, its ideal location, collaborative environment and source of world-class talent. Our community embraces entrepreneurs, with much reciprocal, collusive and genuine desire to see fellow business leaders succeed.
Read the full article here.
Video production authentically illustrating the story of `Why Waterloo Region?` Through conversations with six high-profile, business leaders whose companies have a diverse historical presence in the Region; the video highlights their unique perspective on the character and strengths of Waterloo Region.
Driving the project was to depict how, transformation and evolution, through innovation, is an elemental strand right in the DNA of Waterloo Region. Through sharing their organization`s history, the individual Success Story Vignettes highlight Waterloo Region`s aggressive entrepreneurial spirit, its ideal location, collaborative environment and source of world-class talent. Our community embraces entrepreneurs, with much reciprocal, collusive and genuine desire to see fellow business leaders succeed.
Read the full article here.
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Condo sales surge as house prices climb
Gera Nevolovich has accepted that he will never be able to afford a house in Toronto for his two young sons. He considers himself lucky to be living in the next best thing ` a two-bedroom condo within easy walking distance of the Davisville Park soccer fields.
His family of four is just one tiny part of the wave now pushing the GTA condo market to new highs: Sales were up 20 per cent in June, year over year, and the average price of a condo in the City of Toronto has climbed to almost $400,000, according to figures released by the Toronto Real Estate Board (TREB) Friday.
Read the full article here.
Gera Nevolovich has accepted that he will never be able to afford a house in Toronto for his two young sons. He considers himself lucky to be living in the next best thing ` a two-bedroom condo within easy walking distance of the Davisville Park soccer fields.
His family of four is just one tiny part of the wave now pushing the GTA condo market to new highs: Sales were up 20 per cent in June, year over year, and the average price of a condo in the City of Toronto has climbed to almost $400,000, according to figures released by the Toronto Real Estate Board (TREB) Friday.
Read the full article here.
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Here's the hottest housing market in Canada no one's talking about
The pace of home sales in this city has been growing faster than even in Toronto, while price gains in recent years have strained local affordability to levels that trail only Vancouver, Toronto and Montreal.
Calgary? Nope. Edmonton? No again.
Read the full article here.
The pace of home sales in this city has been growing faster than even in Toronto, while price gains in recent years have strained local affordability to levels that trail only Vancouver, Toronto and Montreal.
Calgary? Nope. Edmonton? No again.
Read the full article here.
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Homeowners get ugly surprise on insurance
A year after the worst flood in Toronto`s history wreaked havoc across the city, some homeowners say they`re getting an ugly surprise from their insurance company.
In some cases insurers have cut their coverage, a move some homeowners say they didn`t discover until they had another basement flood recently.
Read the full article here.
A year after the worst flood in Toronto`s history wreaked havoc across the city, some homeowners say they`re getting an ugly surprise from their insurance company.
In some cases insurers have cut their coverage, a move some homeowners say they didn`t discover until they had another basement flood recently.
Read the full article here.
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Ottawa house prices remain relatively flat
OTTAWA, July 9, 2014 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today reflected a mixed Ottawa market driven by lower sales volumes.
Prices for homes in Ottawa were relatively flat as detached bungalows increased 1.3 per cent year-over-year to $401,667, while standard two-storey homes increased 0.8 per cent to $402,250. Standard condominiums saw a moderate decline in price, dropping 0.7 per cent year-over-year to $257,500.
Read the full article here.
OTTAWA, July 9, 2014 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today reflected a mixed Ottawa market driven by lower sales volumes.
Prices for homes in Ottawa were relatively flat as detached bungalows increased 1.3 per cent year-over-year to $401,667, while standard two-storey homes increased 0.8 per cent to $402,250. Standard condominiums saw a moderate decline in price, dropping 0.7 per cent year-over-year to $257,500.
Read the full article here.
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Toronto housing market on track to be hottest in Canada for 2014
Toronto is on track to end 2014 as the hottest housing market in the country, with prices likely to rise 8.1 per cent, year over year, outpacing even Vancouver`s anticipated 7.1 per cent climb, according to Royal LePage`s House Price Survey and market forecast.
Even the GTA`s much-watched condo sector is expected to end the year on a healthy note, given that prices have already increased 5.4 per cent, to an average of $380,453, in the first half of 2014, year over year, notes the report released Wednesday.
Read the full article here.
Toronto is on track to end 2014 as the hottest housing market in the country, with prices likely to rise 8.1 per cent, year over year, outpacing even Vancouver`s anticipated 7.1 per cent climb, according to Royal LePage`s House Price Survey and market forecast.
Even the GTA`s much-watched condo sector is expected to end the year on a healthy note, given that prices have already increased 5.4 per cent, to an average of $380,453, in the first half of 2014, year over year, notes the report released Wednesday.
Read the full article here.
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Latest stats show Hamilton housing market booming
Hamilton's housing market is soaring.
New reports from the city building department, Canada Mortgage and Housing Corporation, the realtor's association and Royal LePage show every measure of activity in the market is rising quickly.
At the bottom line of all that activity is an increase of almost 5 per cent in the average price of a home in Hamilton-Burlington. It's now just over $409,000.
Read the full article here.
Hamilton's housing market is soaring.
New reports from the city building department, Canada Mortgage and Housing Corporation, the realtor's association and Royal LePage show every measure of activity in the market is rising quickly.
At the bottom line of all that activity is an increase of almost 5 per cent in the average price of a home in Hamilton-Burlington. It's now just over $409,000.
Read the full article here.
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Condos second-most popular real estate choice with Ontarians
A quarter of Ontarians (28%) planning to buy a home in the next two years say they plan to purchase a condo/apartment, with the majority (59%) saying they will buy a detached house, according to new research from the Ontario Real Estate Association (OREA). Released today, The Ontario Home Ownership Indexhttp://http://www.orea.com/Buyers-and-Sellers/Ontario-Home-Ownership-Index, a semi-annual province-wide research study commissioned by OREA and conducted by Ipsos Reid, reflects on Ontarians' outlook of the residential real estate market, their real estate plans and market trends.
"Interestingly, Torontonians led the charge in the condo category, with 41% saying they plan to purchase a condo/apartment," says Costa Poulopoulos, president, OREA. "In comparison, only 23% of all other Ontarians have similar plans, underscoring Toronto's unique condo market. Ontarians are confirming that no two real estate markets are the same, despite their proximity. Understanding local market conditions is important for home buyers and sellers as they prepare to purchase or list a home - consulting with a local Realtor who specializes in a particular market is a great way to get in-the-know."
Read the full article here.
A quarter of Ontarians (28%) planning to buy a home in the next two years say they plan to purchase a condo/apartment, with the majority (59%) saying they will buy a detached house, according to new research from the Ontario Real Estate Association (OREA). Released today, The Ontario Home Ownership Indexhttp://http://www.orea.com/Buyers-and-Sellers/Ontario-Home-Ownership-Index, a semi-annual province-wide research study commissioned by OREA and conducted by Ipsos Reid, reflects on Ontarians' outlook of the residential real estate market, their real estate plans and market trends.
"Interestingly, Torontonians led the charge in the condo category, with 41% saying they plan to purchase a condo/apartment," says Costa Poulopoulos, president, OREA. "In comparison, only 23% of all other Ontarians have similar plans, underscoring Toronto's unique condo market. Ontarians are confirming that no two real estate markets are the same, despite their proximity. Understanding local market conditions is important for home buyers and sellers as they prepare to purchase or list a home - consulting with a local Realtor who specializes in a particular market is a great way to get in-the-know."
Read the full article here.
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Hamilton joins Canada's red-hot housing market
Its economy appears to be picking up, its population is growing, and its homes remain affordable even though price growth has been significant. Adding to the momentum is anticipation of increased commuter train service to Toronto once a new station is completed in Hamilton.
`Along with Calgary, Hamilton`s housing market is currently the tightest among the major markets as measured by the sales-to-listings ratio,` Toronto-Dominion Bank economist Diana Petramala wrote in a recent research note.
Read the full article here.
Its economy appears to be picking up, its population is growing, and its homes remain affordable even though price growth has been significant. Adding to the momentum is anticipation of increased commuter train service to Toronto once a new station is completed in Hamilton.
`Along with Calgary, Hamilton`s housing market is currently the tightest among the major markets as measured by the sales-to-listings ratio,` Toronto-Dominion Bank economist Diana Petramala wrote in a recent research note.
Read the full article here.
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Mirvish and Gehry towers given the green light
Toronto is going to get two super tall Frank Gehry condo towers. City council voted yesterday to allow construction of the pair of waterfall-inspired towers on the north side of King at Duncan, almost two years after the project was first announced.
"[This] decision by Council was obviously a necessary step in this lengthy process," Mirvish said in a press release. "While we believe today's vote was first and foremost an endorsement of our vision for the site, lead by our architect Frank Gehry, we also believe that it is a clear endorsement of the city's development process and staff's demand for consultation and collaboration among the stakeholders."
Read the full article here.
Toronto is going to get two super tall Frank Gehry condo towers. City council voted yesterday to allow construction of the pair of waterfall-inspired towers on the north side of King at Duncan, almost two years after the project was first announced.
"[This] decision by Council was obviously a necessary step in this lengthy process," Mirvish said in a press release. "While we believe today's vote was first and foremost an endorsement of our vision for the site, lead by our architect Frank Gehry, we also believe that it is a clear endorsement of the city's development process and staff's demand for consultation and collaboration among the stakeholders."
Read the full article here.