December 2013 Ontario Economic Fundamentals

[Ally]

Kitchener calls for better train service to Toronto





WATERLOO REGION ` Fast and efficient two-way trains running all day between Kitchener and Toronto will stitch together an innovation supercluster second only to California's famed Silicon Valley.








That is the main conclusion of a business case produced by the City of Kitchener's economic development staff. It calls on Ottawa and Queen's Park to set aside money every year for the next 10 years to cover the $389-million cost.





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[Ally]

Toronto house prices to double over next 25 years, study predicts





TORONTO ` A new forecast suggests fears of a housing bubble and a price collapse are misplaced and predicts rising population and land supply restrictions will result in Toronto house prices doubling over the next 25 years.








The forecast by Central 1 Credit Union says higher mortgage rates in the next three years will restrain housing sales in Ontario as a whole, but not cause a market correction.





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[Ally]

2014 rent increases to be second-lowest in two decades





TORONTO - Ontario will cap rent increases next year at the second lowest rate in more than two decades.








Tenants who live in buildings completed on or before Nov. 1, 1991 will see a maximum hike in their rent of 0.8% in 2014 which works out to $6.40 on an $800 monthly rent.





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[Ally]

Ontarians optimistic about 2014 real estate market and economy





TORONTO, ONTARIO`(Marketwired ` Dec. 30, 2013) - Ontarians seem hopeful about the provincial real estate market, according to new research conducted by Ipsos Reid on behalf of the Ontario Real Estate Association (OREA). A third of Ontarians say the market will strengthen rather than weaken (21%) in 2014. Looking even further ahead ` ten-year`s time ` significantly more Ontarians believe the Ontario real estate market will strengthen (50%) rather than worsen (20%), speaking to the long-term investment value of owning a home.





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