April 2013 Ontario Economic Fundamentals

[Ally]

Lagging investment a threat to Canadian auto industry




Auto assembly plants are working overtime and vehicle sales are steady, so one of the key engines of Canada`s economy seems to be running smoothly.




But a troubling trend in auto maker investment is beginning to raise questions about the medium- and long-term health of an industry that contributes 1.5 per cent of Canada`s gross domestic product directly, and much more when the spinoff benefits it generates are included.



Read the full article here.

 

[Ally]

New Detriot-Windsor bridge to be attractive to industries





A new bridge between Windsor and Detroit will mean new jobs in the region and not just in the short term as the bridge is built, says one border expert.




"You build bridges to create mobility and accessibility," said Bill Anderson, Ontario Research Chair in Cross-Border Transportation Policy at the University of Windsor.





Read the full article here.

 

[Ally]

Hamilton-Burlington housing market improving




The average home price in the Hamilton-Burlington market rose 10 per cent in March over a year earlier and that was the biggest jump in the country.




New numbers released by the Canadian Real Estate Association clearly show the country's real estate market is cooling. The number of home sales, total volume and new listings are all in decline compared to numbers last year in most markets, though nationally home sales rose 2.4 per cent from February to March.





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[Ally]

GTA realtors release rental market report




TORONTO, ONTARIO--(Marketwired - April 16, 2013) - Greater Toronto Area REALTORSÂ reported a substantial increase in the number of condominium apartments rented through the TorontoMLS system in the first quarter of 2013. There were 4,277 condominium apartments rented - up by almost 13 per cent on a year-over-year basis.




The total number of rental properties listed on TorontoMLS during the first quarter was up by more than 25 per cent year - over - year to 8,816.





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[Ally]

Toronto house sales hold up as spring season begins, but condos sink




Home sales in the Toronto area, a flash point for concerns over Canada`s residential real estate market, dipped by less than 1 per cent in the first two weeks of April from a year earlier, to 4,260, though the Toronto Real Estate Board noted there was one extra selling day this year. And that was despite the lousy weather.




The average price rose 4.3 per cent to $527,397, the group said.





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[Ally]

Niagara housing starts up significantly in first quarter




NIAGARA ` Housing starts in St. Catharines-Niagara, Census Metropolitan Area (CMA) were trending at 1,460 units in March, 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.





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[Ally]

Mining Act changes could promote job growth



On April 11 MPPs debated Bill 43, an amendment to the Mining Act intended to promote Ontario jobs.





While it did not propose sweeping changes, the Bill would have created transparency in the system that could be used to promote economic development and job growth in the mining sector.





The bill changed only one word in the Act - a provision that ensured `all minerals mined in Ontario must be treated and refined in Canada` would instead read that `all minerals mined in Ontario must be treated and refined in Ontario.`





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[Ally]

Oshawa jobs picture begins to bloom




What was good for the goose wasn`t technically good for the gander last month, as Oshawa`s unemployment rate fell while Canada`s rose.




The unemployment rate for the Oshawa census metropolitan area, which includes Clarington and Whitby, dropped by 0.8 per cent in March, from 9.4 to 8.6 per cent.




On the other hand, Canada`s unemployment rate jumped up by 0.2 per cent to 7.2 per cent over that same period of time.





Read the full article here.

 

[Ally]

Condo rentals surge as sales fall




"Demand for rental condominium apartments remained strong during the first quarter of the year,` said Toronto Real Estate Board President Ann Hannah. `People looking for higher end rental accommodation, including those who have temporarily put their decision to purchase on hold, were likely driving rental activity during the first three months of the year.




That could well be.




While there were 4,277 condominium apartments rented in the first three months of 2013, the sale of 4,133 condominium apartments sold over the same period represents a 17 per cent drop, year over year.





Read the full article here.

 

[Ally]

Hudak not convinced Hamilton needs LRT




Better rail transportation for Hamilton is a priority for Progressive Conservative leader Tim Hudak ` just not light rail.




The provincial Opposition leader told a Spectator editorial board Wednesday improved regional transportation is critical to job creation in Hamilton and the GTA.





Read the full article here.

 

[Ally]

Showing love to the laneway






This city just doesn`t love laneways quite like it should, developer Michoel Klugmann insists.






`They`re frankly an ignored part of Toronto,` says the principal with Lindvest Properties, which is currently building B.streets Condos on the east side of Bathurst St. just south of Bloor St. W.






All too often, dreary laneway scenes here consist of little more than dumpsters, delivery vans and the odd down-and-outer.






Read the full article here.

 

[Ally]

Ottawa home price index up in March






The Teranet-National Bank House Price Index, which tracks the average prices of homes in major centres across the country, increased by 2.3 per cent when compared to the year before.






It also went up by 0.1 per cent month-over-month.





Read the full article here.

 

[Ally]

Toronto region's human capital healthy







TORONTO ` (April 15, 2013) ` Toronto Region Board of Trade`s fifth global city-region benchmarking study, Toronto as a Global City: Scorecard on Prosperity ` 2013, shows the Toronto Region`s human capital is healthy, well-educated and diverse. The report can be found at www.bot.com/scorecard.





The Toronto Region ranks fourth amongst other major North American urban centres, behind Calgary, San Francisco and Boston. The data shows that Toronto is doing well with employment in high skilled occupations and adults with post secondary education being two good examples. Conversely it is doing less well in other indicators such as attracting highly skilled immigrants and the employment potential of its female population.






Read the full article here.

 

[Ally]

Where are Toronto's prime real estate pockets?




Toronto`s capricious spring real estate market has lots of people feeling perplexed.




Sales have been tumbling for months in a row but prices have held on or continued to climb.




Some houses draw 11 bids; others see their offer dates come and go.





Read the full article here.

 

[Ally]

Bank 'bail-in' unlikely to touch Canadian deposits




Canadian savers with accounts in the country's six systemically important banks need not worry, however, he said at an event in Washington hosted by Thomson Reuters.




"Canadian institutions have substantial unsecured debt obligations in the wholesale market and as well as other classes of capital, and they have substantial capital as well, so once you stack all of that up, regardless of whether one would look to reach into it ... it's hard to fathom why it would be necessary," the Bank of Canada governor said.





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[Ally]

GTA mayors get behind transit plan at CivicAction event, saying it's time to move





Denzil Minnan-Wong knew he was the skunk at the garden party even before he was asked directly if that`s how he felt on Wednesday, representing the only mayor openly disdainful of new taxes to pay for a massive Toronto region transit expansion.






The Toronto councillor stood in for Rob Ford on a CivicAction mayors` panel discussing how the region will move ahead with taxes that can be dedicated to building more transit, and more quickly.






Read the full article here.

 

[Ally]

Is Canada's condo boom coming apart at the seams?




Perhaps nothing is as emblematic of the Canadian housing boom of the past decade as the hundreds of high-rise condo towers currently under construction across the country. Indeed, the story of Canada`s decade-long explosion in housing is to a large degree the story of a construction boom in the condo sector. But that boom now appears to be coming apart at the seams leaving many wondering what`s in store for the condo markets in Canada`s largest cities.



Read the full article here.

 

[Ally]

Toronto casino limps toward uncertain fate




With four of his hand-picked executive committee members voting against him, Toronto Mayor Rob Ford has vowed to take what appears to be a losing battle for a downtown casino to the city`s voters.




With nine of the members having voted in favor of the proposal, albeit with some 50 conditions, and a yes vote from a skeptical City Council increasingly unlikely, the casino`s most vocal advocate says he will force a referendum, which itself would be problematic given the time line`it wouldn`t go to the polls until next year`and the potential political fallout.





Read the full article here.

 

[Ally]

Police turn to realtors to add eyes on the street




Real estate agents in the Peterborough area are teaming up with the city police force to help prevent crime through a neighbourhood-watch-type program.




There are roughly 450 real estate agents on the streets in neighbourhoods, said Const. Brent Mason, a patrol officer with Peterborough-Lakefield Community Police Service.





Read the full article here.

 

[Ally]

Jennifer Keesmat has plans for Toronto




Don`t call her a star.




Toronto chief planner Jennifer Keesmaat has burst onto the scene as one of the city`s most high-profile bureaucrats in memory. She has thousands of Twitter followers, organizes popular roundtables, has been mentioned more than 150 times in the print media and is in hot demand as a speaker.



Read the full article here.