Housing Starts in Toronto Trend Higher in November 2015

Author: Toronto Real Estate Admin / Category: News Bulletin

TORONTO, December 8, 2015 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,866 units in November compared to 45,766, in October according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“A jump in condominium apartment starts, prompted in part by pre-construction condos getting underway, saw GTA housing starts trend higher in November,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Moreover, historically low borrowing costs have kept housing demand high across Toronto and November saw strong low-rise starts, particularly in single and semi-detached homes.”

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 58,964 units in November, up from 38,744 units in October. This was largely the result of a larger number of apartment starts this month.

The City of Toronto had the highest number of total starts led by condominium apartment units. Brampton had the next highest number of starts with single-detached and row starts dominating construction. Markham also had a high number of high rise starts.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Follow CMHC on Twitter @CMHC_ca

Information on this release:

Media Contact:

Angelina Ritacco

Additional data is available upon request.

Source: CMHC

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Source: CMHC

Source: CMHC

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-12-08-0816b.cfm

TREB’s President’s News Beat: Does Your Coffee Machine Have an IQ?

Author: Toronto Real Estate Admin / Category: Toronto Realtor

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

November 27, 2015 The Internet of Things and your “smart” home appliances

If you have heard anything about the Internet of Things (IoT), it may sound like something straight out of science fiction. Or at least The Jetsons.

Your refrigerator orders groceries automatically when it’s low on supplies.
Your furnace changes temperature on demand through your smartphone when you are held up on a business trip.
Your television allows you to make Skype telephone calls, stream video services, and respond to physical gestures.

These weird-and-wonderful products are not in research and development but are available, right here, right now. And your next home might already be equipped with them. Or can be quite easily. But what exactly is IofT? According to IDC Canada, the Internet of Things is actually quite straightforward and is the next evolution in manufacturing. They define it as “a network of uniquely identifiable end points (or things) that communicate without human interaction, most commonly over a wireless network.”  This machine-to-machine technology, made possible by a wireless network, will allow your toaster, your security system, your garage door and your washing machine to talk to your smartphone, with either operation being done automatically or on command by you. They may also talk to each other for routine tasks without intervention from you.
These “smart” technologies are growing in popularity by leaps and bounds. A recent study estimated that annual IoT spending by Canadian businesses is predicted to grow from $5.6 billion in 2013 to $21 billion in 2018 – a 375 per cent increase.  Another international survey predicted that the economic impact of the Internet of Things could be $3.9 trillion to $11.1 trillion per year by 2025, or 11 per cent of the global economy. And, in January 2015, Samsung CEO B.K. Yoon announced that 90 per cent of the devices his company sells will connect to the Internet by 2020. That’s only in four and a half years.

A quick search of your smartphone apps store will show what is already available and ready to go.  But is there a cost to all this convenience? As in any wireless application, and or use of technology, there are opportunities for the systems to experience interruptions. Not unlike running an unsecured home wireless network, these areas will need attention at installation to ensure your security and limit the potential for disruptions.

But will the installation of smart technologies/appliances increase your property’s value? Perhaps. Homes that monitor and control energy usage may provide Sellers with a competitive edge. And refrigerators and freezers that advise you wirelessly if there is a power shortage may reduce your insurance rates. But if your system is just too smart, Buyers might think twice about buying your property, even if it is chatting with you on a daily basis.

To learn more about a home’s smart technology, smart appliances, and energy efficient rebates, talk to a Toronto Real Estate Board Professional REALTOR®.
For more information, visit www.TREBHome.com or for your commercial needs, visit www.trebcommercial.com.

Mark McLean is President of the Toronto Real Estate Board, a professional association that represents 43,000 REALTORS® in the Greater Toronto Area.

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