E.B.Dungey Realty Ltd. Brokerage

TORONTO, August 18, 2014 — Toronto Real Estate Board President Paul Etherington announced mid-month figures for August 2014 that point to continued strength in the GTA housing market.  There were 3,504 sales reported through the TorontoMLS system during the first 14 days of August.  This result was up by 7.6 per cent compared to the same period in August 2013.

“Sales were up strongly for all major home types across the GTA through the first two weeks of August.  This means that many different types of buyers were active in the marketplace, including first-time buyers purchasing newly listed condominium apartments and existing homeowners changing their housing situation to meet their current needs,” said Mr. Etherington.

Tight market conditions, especially for detached and semi-detached houses, drove strong price growth in the first half of August.  The overall average selling price was up by 9.4 per cent year-over-year to $538,530.  The strongest price growth was experienced in the detached market segment, with the average detached price up by 12.3 per cent year-over-year.

“During the first 14 days of August, the number of home sales grew at a faster pace year-over-year compared to the number of homes listed for sale.  This means that competition between buyers increased relative to the same period last year, which explains the continuation of very strong average price growth in the GTA,” said Jason Mercer, TREB’s Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price August 1-14, 2014

2014

2013

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto (“416″)

1,285

539,829

2,175

1,138

506,558

2,134

Rest of GTA (“905″)

2,219

537,778

3,766

2,117

484,412

3,603

GTA

3,504

538,530

5,941

3,255

492,155

5,737

TorontoMLS Sales Average Price  By Home Type August 1-14, 2014

Sales

Average Price

416

905

Total

416

905

Total

Detached

373

1,249

1,622

$843,138

$647,387

$692,402

Yr./Yr. % Change

12.3%

4.8%

6.4%

10.6%

12.3%

12.3%

Semi-Detached

127

246

373

$617,364

$445,815

$504,224

Yr./Yr. % Change

30.9%

2.5%

10.7%

6.1%

9.0%

9.9%

Townhouse

132

424

556

$438,519

$403,626

$411,910

Yr./Yr. % Change

5.6%

-0.2%

1.1%

4.1%

7.8%

7.0%

Condo Apartment

640

241

881

$370,907

$305,943

$353,136

Yr./Yr. % Change

11.1%

15.9%

12.4%

1.3%

8.1%

2.6%

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2014/nr_market_watch_0818.htm

TORONTO, August 11, 2014 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended slightly higher at 32,475 units in July compared to 32,024 in June 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.

“An increase in apartment starts pushed up the total housing starts tally in July, which follows the low activity from the previous month. However, overall starts are still on course to moderate by the end of the year as fewer sales in previous years translate to fewer starts,” said Dana Senagama, CMHC’s Toronto Senior Market Analyst.

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 more 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 38,495 units in July, up from 26,693 units in June.

Toronto City recorded the highest number of starts in July compared to a year earlier mainly due to strong apartment starts. Brampton had the second highest starts activity within the Toronto CMA due to higher low rise housing starts, especially in single detached and row homes.

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

As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

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.

Information on this release:

Market Analysis Contact:

Dana Senagama
416-218-3328
dsenagam@cmhc.ca

Media Contact:

Beth Bailey
416-218-3355
bbailey@cmhc.ca

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request.

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

Article source: http://www.cmhc.ca/en/corp/nero/nere/2014/2014-08-11-0816b.cfm

TORONTO, August 13, 2014 — Ontario housing activity will regain momentum through the course of 2014 before easing later in 2015, according to the Third Quarter 2014 CMHC Housing Market Outlook – Canada Edition released today. After declining in 2013, Ontario annual home starts will slow to 57,100 units in 2014 before stabilizing in 2015. Ontario starts will range between 50,900 and 63,400 units over the course of 2014 and 2015.

“An improving economy by 2015 and less out-migration to western Canada will provide support to the broader Ontario housing market. As home prices continue to rise, albeit at a more modest pace, demand will shift to less expensive housing both by type and geography,” said Alex Medow, CMHC`s Senior Market Analyst. “Consequently, we remain more bullish on the less expensive resale market and less expensive higher density housing sector.

Ontario existing home sales will gradually lead the market higher with MLS^® sales growing to 202,500 units in 2015 from 197,900 units in 2014. MLS^® sales will range between 192,400 to 214,753 units this year and next. Ontario home prices will grow at a slower rate over the forecast horizon.

As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at http://www.cmhc.ca/housingmarketinformation.

Follow CMHC on Twitter @CMHC_ca

Market Analysis Contact:

Alex Medow
416-218-3344
Cell: 647-215-6489
amedow@cmhc.ca

Media Contact:

Beth Bailey
416-218-3355
Cell: 416-988-4615
bbailey@cmhc.ca

Ontario MLS^® Sales²

Ontario Starts¹ (All Areas)

¹ The outlook is subject to a heightened degree of uncertainty. Although point forecasts are presented in this publication, CMHC also presents forecast ranges and risks where appropriate. The forecasts included in this document are based on information available as of July 16, 2014.

² The term MLS^® stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA).

Article source: http://www.cmhc.ca/en/corp/nero/nere/2014/2014-08-13-0816b.cfm

TORONTO, ONTARIO, August 11, 2014 — Together, the Governments of Canada and Ontario announced an additional combined investment of more than $801 million over five years, to help more individuals and families in housing need. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement.

“Our Government remains committed to smart investments in housing to create better economic outcomes for the Canadian families who benefit from these programs,” said the Honourable Candice Bergen, Minister of State for Social Development. “By partnering with the provinces and territories we want to ensure that this investment improves the quality of life of low-income Canadians, and creates needed jobs and opportunities for apprentices.”

“The renewed partnership between Canada and Ontario will help improve access to safe, suitable affordable housing,” said the Honourable Ted McMeekin, Ontario’s Minister of Municipal Affairs and Housing. “Ontario remains committed to creating more access to housing that will support our most vulnerable residents and working with the Federal Government to accomplish that goal.”

The federal portion of this funding comes from Economic Action Plan 2013, which announced the Government of Canada’s commitment to investing more than $1.25 billion nationally over five years to extend the Investment in Affordable Housing and to creating opportunities for apprentices, which will support the training of skilled labour in residential housing. Governments will report annually to the public regarding the investments and progress toward achieving the intended outcomes of the IAH.

Under the IAH, the Ontario Government has the flexibility to design and deliver a range of affordable housing programs to address local housing needs and priorities. Ontario is supporting the building and renovation of affordable housing, as well as the provision of rental and homeownership assistance to low and moderate income households. A portion of funding will be dedicated to Aboriginal households living off-reserve. Other priority groups will include seniors, persons with disabilities and victims of domestic violence.

The announcement was made at 40 Oaks, an innovative affordable housing project of the Toronto Christian Resource Centre. 40 Oaks consists of 87 units of affordable, safe housing, and a 5,000 square foot community hub where people can gather, develop, and participate in activities geared to their needs. The project is supported by more than $6 million in funding through the Canada – Ontario Affordable Housing Program.

On November 8, 2011, the Governments of Canada and Ontario announced an IAH agreement with a combined investment of $481 million for the 2011-2014 period. This new agreement extends the original agreement for the 2014-2019 period with an additional combined investment of more than $801 million. From April 2011 to March 2014, the IAH has already helped more than 183,600 households nationally, and close to 17,800 in Ontario.

The province continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, Ontario’s funding commitment of more than $4 billion – which includes the extension to the IAH – is the largest affordable housing investment in the province’s history.  Ontario is supporting the creation of more than  20,000 affordable rental housing units; making more than 275,000 repairs and improvements to social and affordable housing units; and, providing rental and down payment assistance to more than 90,000 households in need.  The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

To find out more about how the Government of Canada, through CMHC, is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/affordablehousing. For more information on Canada’s Economic Action Plan, call 1-800-O-Canada or visit www.actionplan.gc.ca.

Backgrounder: For information on the Investment in Affordable Housing, click here.

Media please contact:

Charles Sauriol
Media Relations
Canada Mortgage and Housing Corporation
613-748-2799
csauriol@cmhc-schl.gc.ca

Yanni Dagonas
Office of the Minister of Municipal Affairs and Housing
416-585-6853
yanni.dagonas@ontario.ca

Charlene Millett
Communications
Ministry of Municipal Affairs and Housing
416-585-7478
charlene.millett@ontario.ca

Follow CMHC on Twitter @CMHC_ca

Article source: http://www.cmhc.ca/en/corp/nero/nere/2014/2014-08-11-1100.cfm

TORONTO, August 7, 2014 — Toronto Real Estate Board President Paul Etherington announced that TREB Commercial Network Members reported 360,808 square feet of space leased on a per square foot net basis through the TorontoMLS system in July. This result, which included transactions with pricing disclosed, was down from 696,939 square feet reported in July 2013. The amount of leased commercial/retail space was up on a year-over-year basis, whereas the amount of industrial and office space leased was down.  Industrial properties accounted for 60 per cent of total square footage leased.

“Commercial real estate transactions are often complex in nature, so it is common to see volatility in the amount of space leased from one year to the next on a monthly basis. While the amount of industrial space leased was down compared to July 2013, the average industrial lease rate was up over the same period.  Part of this increase was due to the fact that there were fewer large spaces leased this past July compared to last year. Smaller properties tend to command comparatively greater lease rates,” said Mr. Etherington.

The average per square foot net lease rate for industrial properties was up year-over-year to $5.45. The average office lease rate was also up over the same period to $13.75. The average commercial/retail lease rate was down over the same time frame to $18.77.

There were 71 combined industrial, commercial/retail and office properties sold through the TorontoMLS system with pricing disclosed in July 2014. This result represented an increase compared to July 2013, when 60 sales were reported. Sales for industrial and commercial/retail properties were up year-over-year, while sales of office properties were down.

Average sale prices on a per square foot basis were down in July for the major commercial segments compared to last year. However, the dip in average selling prices was driven, in large part, by a change in the composition of properties sold, both in terms of geographic location in the GTA and the size of properties sold.

“It is encouraging to see that the number of commercial property sales in July was up in comparison to last year.  Realizing that this result only deals with the month of July, it will be interesting to see if sales growth continues through the remainder of the third quarter. If this turns out to be the case, it could suggest that GTA businesses are expecting improved economic activity in the region moving forward,” continued Mr. Etherington.

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2014/nr_comm_watch_0714.htm