E.B.Dungey Realty Ltd. Brokerage

Report Highlights:

• Ontario housing starts have been revised higher and are expected to range between 71,300 and 73,500 units in 2016 before slowing and ranging between 63,200 and 66,500 in 2017. 
• Existing homes, being less expensive, will register stronger sales activity ranging between 224,700 and 233,300 units in 2016 and ranging between 213,000 and 231,500 units in 2017.
• Ontario home prices are expected to grow at a slower rate over the forecast period but post strong growth in the short run thanks to seller’s market conditions.
• Ontario average home prices will range between $505,500 and $516,100 in 2016 and $517,100 to $535,400 in 2017.

The presence of uncertainty creates some risks to the Ontario economic and housing outlook. This can result in a wider range of possible outcomes over the forecast horizon. Stronger growth in the US economy, interest rates remaining low longer and strong demand for single family homes could support much stronger housing activity. Alternatively, weaker job growth, growing imbalances in the housing market and rising inventories in both the resale and new home market could result in much weaker activity. Please refer to discussion on outer ranges in “Risks to Housing Outlook” section of Ontario HMO Regional Highlights Report for more details.

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.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

“Despite an improving Ontario economy, housing activity is expected to ease over the forecast period as the cost of owning a home continues to increase. However, homes in southwestern and southern Ontario markets bordering the GTA tend to be more affordable, thus we expect a growing share of activity in those centres as we do for higher density housing which includes less expensive rental accommodation.”

— Ted Tsiakopoulos, Regional Economist (Ontario), Canada Mortgage and Housing Corporation

Media Contact:
Angelina Ritacco
416-218-3320
Cell: 647-210-7420
aritacco@cmhc.ca

Article source: http://www.cmhc.ca/en/corp/nero/nere/2016/2016-05-18-0816c.cfm

TORONTO, May 16, 2016 — On May 17, 2016, the Toronto Real Estate Board (TREB) will celebrate National Real Estate Day, a day for all Canadians to celebrate the benefits of home ownership.

TREB President Mark McLean will kick off the celebration on Breakfast Television at 6:20 a.m. and discuss the meaning of National Real Estate Day.

“With National Real Estate Day, we finally have a forum for all Canadians to discuss why they love their home and how home ownership has positively impacted their lives,” said McLean.

In his appearance, McLean will talk about the positive effects owning a home can have on an individual and/or family. “Home ownership is a great investment. It’s a straightforward way to build a solid financial future, and it’s also the only investment you can live in,” said McLean.

“On top of the financial benefits, research shows several other benefits of home ownership. For instance, homeowners have been found to have an increased sense of pride, security, and stability,” McLean noted.

McLean also mentioned many more positive spin-offs associated with home ownership. The TREB President noted several other positive statistics from a 2015 Habitat for Humanity research project “Transforming Lives,” that owning a home can also improve the education outlook of your children, improve your family’s health through higher levels of physical activity and lower levels of psychological distress, and  increase levels of civic involvement and charitable support in your community.

“So, in the interest of your family’s well-being and your financial future,” said McLean, “it’s wise to make the transition to home ownership at your earliest opportunity.”

McLean will also urge viewers to get involved in the national conversation on social media by sharing why they love their home and how home ownership has positively impacted their life by using the hashtag #iheartrealestate on Facebook and on Twitter @TREBhome. For all the details visit TREBhome.com/NRED.

At noon on May 17, there will be a live Twitter Chat hosted by TREB that features the chance to win prizes for participating.

Breakfast Television and TREB President will announce a contest that would enable one lucky winner to take home a $3,000 Rona Home and Garden gift card to help with their home ownership goals.

Talk to a Toronto Real Estate Board Professional Member REALTOR®. For updates on the real estate market, visit TREBhome.com. If commercial property is what interests you, contact a TREB Commercial Professional Member REALTOR® by visiting trebcommercial.com.

Article source: http://www.trebhome.com/market_news/release_market_updates/news2016/nr_NRED_2016.htm

TORONTO, May 9, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 41,652 units in April 2016 compared to 41,896 in March 2016 according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“April saw Toronto housing starts remain largely on trend,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Home starts were buoyed by new apartments, some of which were purpose-built for rental. Low-rise home starts were also high, as record low inventories in the resale market continued to drive buyers to the new home market”.

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 standalone monthly SAAR was 37,140 units in April, up from 55,738 units in March. The decrease was the result of fewer apartment and single-detached starts.

The City of Toronto recorded the highest number of starts within the Toronto CMA due to more apartment starts in April. Brampton and Markham had the next highest number of starts as a result of a strong number of low-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.

For more information, follow us on Twitter, YouTube, LinkedIn and Facebook.

Information on this release:

Media Contact:
Angelina Ritacco
416-218-3320
Cell: 647-210-7420
aritacco@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

Source: CMHC

Source: CMHC

Article source: http://www.cmhc.ca/en/corp/nero/nere/2016/2016-05-09-0816b.cfm

TORONTO, May 4, 2016 — Toronto Real Estate Board President Mark McLean announced that Toronto Real Estate Board Commercial Network Members reported 306,003 square feet of combined industrial, commercial/retail and office space leased through TREB’s MLS® System in April 2016.  This result was down from 811,123 square feet of space leased in April 2015.

Following the historic norm, industrial properties accounted for approximately 70 per cent of the total space leased in April.  The office segment accounted for the next largest share followed by the commercial/retail segment.

Average lease rates for properties transacted on a per square foot net basis, where pricing was disclosed, were up for the industrial and office market segments, but down for the commercial/retail segment.  Commercial leasing results can be volatile on a month-to-month basis.  This means that changes in average lease rates can be the result of changes in market conditions and compositional shifts in the type and location of properties leased.

“There is no doubt that we have experienced some volatility in commercial leasing and sales activity over the past few months.  This mirrors the broader Canadian economy.  The most recent monthly GDP result released from Statistics Canada represented a decline in economic activity following four consecutive increases.  Many businesses may still be in a holding pattern with regard to further real estate investment,” said Mr. McLean.

There were 48 combined industrial, commercial/retail and office sales reported in April 2016, where pricing was disclosed.  This result was down compared to 72 sales reported for April 2015.

Changes in average sale prices on a per square foot net basis varied by market segment and, similar to the leasing market, reflected changes in the type and geography of properties sold along with changes in market conditions.

Article source: http://www.trebhome.com/market_news/release_market_updates/news2016/nr_comm_watch_0416.htm