E.B.Dungey Realty Ltd. Brokerage

TORONTO, February 10, 2009 — The Government of Canada, the Government of Ontario and the City of Toronto today announced $4.34 million in funding that will help to create 62 new affordable rental homes for seniors under the Canada – Ontario Affordable Housing Program. 

The announcement was made by Jim Flaherty, Finance Minister and Minister Responsible for the GTA, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Laurel Broten, MPP for Etobicoke – Lakeshore, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; and Councillor Giorgio Mammoliti, Chair, Affordable Housing Committee, City of Toronto, on behalf of Mayor David Miller.
 
“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said Minister Flaherty.  “These seniors in Toronto will now have access to quality, affordable housing and the services that meet their specific needs, while remaining close to their families and friends in the community.”

“Access to safe, affordable housing is vitally important to the economic and social well-being of Ontario’s communities,” said MPP Broten.  “Through this allocation to the City of Toronto, the McGuinty government is renewing its commitment to work with our housing partners to grow the supply of affordable housing.”

The City of Toronto is investing an additional $3.2 million, as well as waiving development charges and property taxes.

“I’m proud that we are able to provide much needed affordable housing for Torontonians as well as create jobs,” Coun. Mammoliti said. “By working together, all orders of government are making Toronto a city that is liveable, prosperous and provides opportunity to all residents.”

The $4.34 million allocation to Toronto will help fund the conversion of a former chronic-care facility into seniors housing at 717 Broadview Ave. The development is being led by Toronto Community Housing Corporation.

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from the federal and provincial governments. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for 20,000 households in Ontario.

Media Inquiries:

For more information visit:
www.ontario.ca/housing
www.toronto.ca/affordablehousing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000f.cfm

WATERLOO, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $881,388 in funding to 99 households in the Regional Municipality of Waterloo under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.
 
The announcement was made by Peter Braid, Member of Parliament for Kitchener – Waterloo, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Leeanna Pendergast, MPP for Kitchener – Conestoga, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Braid. “This investment will help people in Waterloo access quality, affordable housing and start a new page in their lives.”

“I’m proud to announce there are 99 new homeowners in the Region of Waterloo,” said MPP Pendergast. “This funding allows people to get a foothold in the housing market, and alleviate some of the demand for affordable rental housing.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000g.cfm

ST. CATHARINES, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $505,877 in funding to 71 households in the Regional Municipality of Niagara under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.

The announcement was made by Rick Dykstra, Member of Parliament for St. Catharines, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Kim Craitor, MPP for Niagara Falls, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Dykstra. “This investment will help people in Niagara access quality, affordable housing and start a new page in their lives.”

“I’m proud to announce there are 71 new homeowners in Niagara Region,” said MPP Craitor. “This funding allows people to get a foothold in the housing market, and alleviate some of the demand for affordable rental housing.”

The Regional Municipality of Niagara delivers the program, and has been instrumental in its success. For more information about the Homeownership program, and to receive an application, call 905-682-9201 ext. 3952, or visit http://www.nrh.ca/applicants/welcome.shtml.

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000b.cfm

GTA REALTORS® Release Q1 Rental Market Report

TORONTO, April 18, 2012 – Greater Toronto REALTORS® reported 3,804 leased condominium apartment transactions in the first quarter of 2012, up 11 per cent from the 3,442 units rented during the first three months of 2011.  The number of condominium apartments listed for rent on the TorontoMLS system during the first quarter was also up, but by a lesser four per cent to 7,096 units.

“There have been very few purpose-built rental buildings completed in the GTA over the past few years.  This means that households looking to rent an apartment with modern finishes and amenities have been focusing on condominium apartments rented out by investor owners,” said Toronto Real Estate Board President Richard Silver.

“Condominium apartment vacancy rates, as reported by CMHC, were down in 2011 and it looks as if this trend is continuing with growth in lease transactions outstripping growth in listings,” continued Silver.

Average one-bedroom and two-bedroom condominium apartment rents increased at annual rates above inflation, at four and seven per cent respectively.

“Tighter rental market conditions played a key role in the strong annual average rent increases.  However, a lot of condominium apartment projects were completed over the last year.  Some owners chose to list their units for rent.  Newly completed units benefitting from the latest trends in finishes and amenities could have arguably commanded higher rents compared to older units.  This factor likely played a role in strong year-over-year average rent increases as well,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Rental Market Summary: First Quarter 2012

Apartments^1,2,3

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q1 2012

7,096

3,804

96

$1,306

2,111

$1,538

1,522

$2,089

75

$2,079

Q1 2011

6,829

3,442

76

$1,220

1,839

$1,484

1,445

$1,957

82

$2,442

Yr./Yr. % Chg.

4%

11%

26%

7%

15%

4%

5%

7%

-9%

-15%

Townhouses^1,2,3

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q1 2012

603

276

3

$1,263

34

$1,403

73

$1,696

166

$1,933

Q1 2011

556

206

0

-

20

$1,374

49

$1,647

137

$1,830

Yr./Yr. % Chg.

8%

34%

-

-

70%

2%

49%

3%

21%

6%

¹Refers to the total number of rental units that were available during the reporting period.

²Refers to firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period.

³Refers to the average lease rate for firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period.

For information about Buyer Representation Agreements (BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior Manager Media Relations.

Toronto Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416) 443-8158, Email:maryg@trebnet.com

Greater Toronto REALTORS are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 31,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canadas largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_rental_report_Q1-2012.htm

MUSKOKA, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $112,000 in funding to 15 households in the District Municipality of Muskoka under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.

The announcement was made by the Tony Clement, Minister of Industry, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said Minister Clement. “This investment will help residents of Muskoka access quality, affordable housing and start a new page in their lives.”

“I’m proud to announce there are 15 more homeowners in Muskoka,” said Minister Watson. “This funding allows people to get a foothold in the housing market, and alleviate some of the demand for affordable rental housing.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000a.cfm

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

April 20, 2012 — Data from Canada’s most recent 2006 Census shows that more Canadians own their home than ever before, and like many of you, Greater Toronto REALTORS® believe in the many benefits of home ownership.

Achieving this milestone can be a formidable challenge for many people, as the current economic times make it more difficult to come up with a down payment, and requirements to qualify for mortgages continue to increase.

As well, there are added closing costs to consider, like the Harmonized Sales Tax and the Land Transfer Tax, which can significantly diminish affordability. Since they cannot be financed, home buyers must allocate funds, which could otherwise be used for a deposit, towards such closing costs. In turn, a more modest down payment reduces what home buyers can afford by limiting the amount they qualify to finance, and increasing mortgage payments.

Fortunately, down payment loans are available to help low- and moderate-income earners buy a home. In doing so, they improve lives, help home buyers build equity, upgrade the quality of their housing and achieve financial stability, often with carrying costs that just as affordable as renting. Helping others achieve home ownership can also translate into one less person in social housing or on a waiting list for such housing.

Since 1992, the City of Toronto, using federal and provincial funding, has worked with six non-profit partners to produce 1,143 affordable ownership homes, from detached houses to condominium units, in 22 of Toronto’s 44 wards.

A recently released study that examined the last five years’ results of the City’s efforts to facilitate affordable home ownership with its non-profit housing partners, offers tremendous insight into the importance of such initiatives.

The study–the first of its kind in Canada–was based on a recent survey that targeted 215 respondents who were renting, before they received government financing or indirect support through a partner organization’s financing, to purchase their current home.

Almost three-quarters of respondents who received such assistance said they would have been unable to buy without it. This strongly supports the view that a down payment is a major barrier for low- and moderate-income home buyers, and that down payment assistance does help.

The numbers also show that an overwhelming majority have found home ownership to be a positive experience. Some 78 per cent of respondents were even more satisfied with their home than they expected.

Among the highlights of home ownership that respondents cited were the ability to build equity, achieve greater financial stability, and enjoy higher housing quality.  They noted positive changes with respect to personal privacy, physical health, personal safety and even their children’s school performance.  This shows that home ownership has significant effects that are beneficial on a very broad scale.

Moreover, 43 per cent of respondents intended to improve their homes with an investment of more than $5,000 in the next five years, further producing positive widespread effects.
Greater Toronto REALTORS® applaud the efforts of the City of Toronto and its six partner organizations.  Recognizing the important role that affordable housing also plays in relieving pressure on the rental market and providing affordable housing stock, government policies and incentive programs should continue to support home ownership. Doing so builds a better city for all of us to enjoy.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm

STRATFORD, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $106,000 in funding to 14 households in Stratford and the County of Perth under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.

The announcement was made by Gary Schellenberger, Member of Parliament for Perth-Wellington, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and John Wilkinson, MPP for Perth-Wellington and Minister of Research and Innovation, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Schellenberger. “This investment will help people in Stratford and the County of Perth access quality, affordable housing and start a new page in their lives.”

“This funding allows people to get a foothold in the housing market while also helping to free up affordable rental housing for others,” said Minister Wilkinson. “It shows what we can accomplish when all three levels of government work together.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000e.cfm

GTA REALTORS® Report Condominium Transactions In Q1

TORONTO, April 18, 2012 – Greater Toronto REALTORS reported 5,027 condominium apartment transactions in the first quarter of 2012. This result was up by two per cent in comparison to the first quarter of 2011. Over the same period, the number of new listings of condominium apartments was up by 14 per cent.

With sales increasing moderately year-over-year and listings growing strongly, the condo apartment market became better supplied in the first quarter. With more choice for buyers in the condo market segment compared to the low-rise segment, the average selling price for condos grew at a slower pace in comparison to some low-rise types including detached homes, said Toronto Real Estate Board President Richard Silver.

The average selling price for condominium apartments in the first quarter of 2012 was $334,952 up by 3.7 per cent from $322,857 in the first quarter of 2011.

Condominium apartment completions were at the highest level ever in 2011. As projects completed, some units held by investors were listed for sale. As a result, it is not surprising that we saw more moderate rates of price growth in the first quarter. However, the fact that annual price growth remained above the rate of inflation is testament to the fact that demand remains strong for this home type, said Jason Mercer, TREBs Senior Manager of Market Analysis.

Condominium Apartment Market Summary

First Quarter 2012

2012

2011

Sales

Average Price

Sales

Average Price

Total TREB

5,027

$334,952

4,932

$322,857

Halton Region

82

$295,979

53

$276,566

Peel Region

768

$246,688

734

$231,010

City of Toronto

3,546

$360,892

3,539

$348,779

York Region

507

$324,182

506

$303,506

Durham Region

108

$208,544

92

$202,384

Other Areas

16

$217,000

8

$198,800

Source: Toronto Real Estate Board

For information about Buyer Representation Agreements (BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior Manager Media Relations.

Toronto Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416) 443-8158, Email:maryg@trebnet.com

Greater Toronto REALTORS are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 31,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canadas largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_condo_report_Q1-2012.htm

SIMCOE, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $847,000 in funding to 108 households in the County of Simcoe under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.
 
The announcement was made by Helena Guergis, Minister of State for Status of Women and Member of Parliament for Simcoe – Grey, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Aileen Carroll, MPP for Barrie and Minister of Culture and Minister Responsible for Seniors, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said Minister Guergis. “This investment will help people in the County of Simcoe access quality, affordable housing and start a new page in their lives.”
 
“There are 108 new homeowners in the County of Simcoe because of this excellent government initiative,” said Minister Carroll. “This funding allows people to get a foothold in the housing market.  In so doing, it frees up more affordable rental housing, which is much needed in Simcoe County.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000d.cfm

COUNTY OF OXFORD, February 10, 2009 — The Government of Canada, the Government of Ontario, and the County of Oxford today announced more than $1.5 million in funding for affordable housing. The funding will help create 15 new affordable rental units in Tillsonburg and provide down payment assistance to 63 households in the County of Oxford.

The announcement was made by Dave MacKenzie, Member of Parliament for Oxford, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); John Wilkinson, MPP for Perth – Wellington and Minister of Research and Innovation, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing; and County of Oxford Warden Paul Holbrough.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP MacKenzie. “Through this investment, we are making an important difference in the lives of low-income renters, low-income seniors and individuals with physical disabilities in the County of Oxford who are working towards build a stronger and better future for themselves.”

“Access to safe and affordable housing is crucial to the economic and social well-being of Ontario’s communities,” said Minister Wilkinson. “The McGuinty government continues to work with our housing partners to grow the supply of affordable housing in the County of Oxford and across the province.”

The $1.55 million allocation includes:

• $1.05 million for a 15-unit project in Tillsonburg. The project is sponsored by the E E McLaughlin Ltd. in Trust, and the units will be occupied by low-income seniors and individuals with physical disabilities.
• $538,670 in down-payment assistance for 63 households in the County of Oxford under the Homeownership component of the program which provides down-payment assistance for low-income renters to enter the housing market and purchase homes.

The federal and provincial allocations are complemented by more than $136,000 in municipal financial contributions.

“The development of affordable housing remains a priority for the County of Oxford,” said Warden Holbrough. “The cooperative efforts of all levels of government must continue to address this fundamental need in all communities. We look forward to continuing this work with our public, private and not for profit partners.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down-payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000c.cfm