June 2013 Ontario Economic Fundamentals
- Thread starter Ally
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Ontario wood frame building gets a push
Members of the building and development industry are calling for changes in the Ontario Building Code (OBC) which would allow the construction of wood frame buildings of up to six storeys, increasing the limit from the current four storeys.
An expert in urban planning says the move would drive construction costs down and allow for more affordable options for prospective homebuyers.
Read the full article here.
Members of the building and development industry are calling for changes in the Ontario Building Code (OBC) which would allow the construction of wood frame buildings of up to six storeys, increasing the limit from the current four storeys.
An expert in urban planning says the move would drive construction costs down and allow for more affordable options for prospective homebuyers.
Read the full article here.
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Ontario business owners optimistic in 2013
Business owners in Ontario are equally positive about the outlook for the Canadian economy this year as they are and their provincial economy for 2013, according to BMO Bank of Montreal.
The findings are part of a BMO poll of Ontario business owners, conducted by Pollara, to determine what local entrepreneurs see as the competitive advantage of doing business in their province. It revealed:
Read the full article here.
Business owners in Ontario are equally positive about the outlook for the Canadian economy this year as they are and their provincial economy for 2013, according to BMO Bank of Montreal.
The findings are part of a BMO poll of Ontario business owners, conducted by Pollara, to determine what local entrepreneurs see as the competitive advantage of doing business in their province. It revealed:
Read the full article here.
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Pressure mounts for Ontario to broaden controls on rent
`I`m not complaining. I specifically don`t complain and I`ve stayed on pretty good terms,` said Gerrior. `I would have stayed if I could, but I can`t eat and pay my rent now.`
Other tenants contacted by the Star would only talk on condition their names not be used, but said they believe the increases are largely because the once derelict industrial area is close to the up-and-coming Junction Triangle.
Read the full article here.
`I`m not complaining. I specifically don`t complain and I`ve stayed on pretty good terms,` said Gerrior. `I would have stayed if I could, but I can`t eat and pay my rent now.`
Other tenants contacted by the Star would only talk on condition their names not be used, but said they believe the increases are largely because the once derelict industrial area is close to the up-and-coming Junction Triangle.
Read the full article here.
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Transportation plan will benefit York Region residents
It`s too early to say for certain, but you may pay for fees imposed on businesses as part of Metrolinx`s transportation investment strategy.
However, reducing the traffic on our roads will save families in other ways, University of Toronto professor and Institute on Municipal Finance and Governance director Enid Slack said.
Read the full article here.
It`s too early to say for certain, but you may pay for fees imposed on businesses as part of Metrolinx`s transportation investment strategy.
However, reducing the traffic on our roads will save families in other ways, University of Toronto professor and Institute on Municipal Finance and Governance director Enid Slack said.
Read the full article here.
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Ford sales lead the way as automakers report sales for May
TORONTO - Ford Canada, Chrysler Canada and Toyota Canada all posted higher sales in May compared to a year ago.
Ford Motor Company of Canada said sales in May edged 0.5 per cent higher, boosted by its truck sales.
Read the full article here.
TORONTO - Ford Canada, Chrysler Canada and Toyota Canada all posted higher sales in May compared to a year ago.
Ford Motor Company of Canada said sales in May edged 0.5 per cent higher, boosted by its truck sales.
Read the full article here.
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Bidding wars: Housing gone crazy
Hamiltonians are hanging on to their homes while out-of-towners are flocking to move in.
There is an overall shortage of real estate listings in Hamilton, combined with strong demand in certain pockets of the city. That has resulted in bidding wars and plenty of frustration for people searching for a new address.
Listings so far this year are down 2.5 per cent over last year, but 22 per cent compared to 2011.
Read the full article here.
Hamiltonians are hanging on to their homes while out-of-towners are flocking to move in.
There is an overall shortage of real estate listings in Hamilton, combined with strong demand in certain pockets of the city. That has resulted in bidding wars and plenty of frustration for people searching for a new address.
Listings so far this year are down 2.5 per cent over last year, but 22 per cent compared to 2011.
Read the full article here.
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6-storey apartment approved in Waterloo
WATERLOO ` A six-storey apartment building at 222 King St. S. received unanimous approval from Waterloo councillors this week and a solid endorsement from the Tri-Cities Transport Action group.
KGR Holdings' The Cortes on King project will limit surface parking, provide rooftop amenity space for residents and is located on the future light rail transit line.
Read the full article here
WATERLOO ` A six-storey apartment building at 222 King St. S. received unanimous approval from Waterloo councillors this week and a solid endorsement from the Tri-Cities Transport Action group.
KGR Holdings' The Cortes on King project will limit surface parking, provide rooftop amenity space for residents and is located on the future light rail transit line.
Read the full article here
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Ontario liberals open the door to the wrong kind of revenues
It reads like a manual on how to make people feel more overburdened, without actually increasing their burden that much.
Running the gamut from a reintroduction of photo radar to an expansion of red-light cameras to a new surcharge on telephone bills, the new `non-tax revenues` proposed in a Treasury Board document unearthed Monday by the opposition Progressive Conservatives are practically a populist parody of the way a cash-strapped government might nickel and dime Ontarians. In return for the inevitable backlash, implementing all eight such proposals would bring in `up to $167.7-million` annually, which would be enough to have only a very limited impact on a provincial deficit hovering around $10-billion.
Read the full article here.
It reads like a manual on how to make people feel more overburdened, without actually increasing their burden that much.
Running the gamut from a reintroduction of photo radar to an expansion of red-light cameras to a new surcharge on telephone bills, the new `non-tax revenues` proposed in a Treasury Board document unearthed Monday by the opposition Progressive Conservatives are practically a populist parody of the way a cash-strapped government might nickel and dime Ontarians. In return for the inevitable backlash, implementing all eight such proposals would bring in `up to $167.7-million` annually, which would be enough to have only a very limited impact on a provincial deficit hovering around $10-billion.
Read the full article here.
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GTA Realtors release monthly housing resale figures
"The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year's levels, the rate of decline has been much smaller. A growing number of households who put their decision to purchase on hold as a result of stricter lending guidelines are starting to become active again in the ownership market," said Toronto Real Estate Board President Ann Hannah.
The average selling price for May 2013 sales was $542,174 - up by 5.4 per cent in comparison to $514,567 in May 2012. The annual rate of price growth was driven by the tight low-rise segment of the market and particularly by single-detached and semi-detached home transactions in the City of Toronto. Average condominium apartment prices were also up slightly in comparison to last year.
Read the full article here.
"The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year's levels, the rate of decline has been much smaller. A growing number of households who put their decision to purchase on hold as a result of stricter lending guidelines are starting to become active again in the ownership market," said Toronto Real Estate Board President Ann Hannah.
The average selling price for May 2013 sales was $542,174 - up by 5.4 per cent in comparison to $514,567 in May 2012. The annual rate of price growth was driven by the tight low-rise segment of the market and particularly by single-detached and semi-detached home transactions in the City of Toronto. Average condominium apartment prices were also up slightly in comparison to last year.
Read the full article here.
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Two maps show everything you need to know about Toronto
Anyone who has had to shoehorn themselves into a TTC subway on the Yonge subway line knows Toronto is running at about capacity on its main underground transit route.
Why is there such a crushing capacity problem? Look at the interactive below. There are two maps, and they show you everything you need to know about how Toronto organizes people and why the public transit system is so overtaxed.
Read the full article here.
Anyone who has had to shoehorn themselves into a TTC subway on the Yonge subway line knows Toronto is running at about capacity on its main underground transit route.
Why is there such a crushing capacity problem? Look at the interactive below. There are two maps, and they show you everything you need to know about how Toronto organizes people and why the public transit system is so overtaxed.
Read the full article here.
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London-area real estate market finishes May strong
The spring market continued to gain traction in May, with 941 homes sales, up 3.1 per cent. "The market appears to be rallying after a somewhat slow start to the year," says Doug Pedlar, President of the London and St. Thomas Association of REALTORSÂ.
"Condos were a little soft (down 6.2 per cent) but detached homes were up by 5.1 per cent." He adds, "We're also pleased to note that new listings are up 8.2 per cent and inventory ` the number of active listings end of period - is up 3.8 per cent. Those figures indicate that we remain in a balanced market overall ` good news for buyers and sellers alike."
Read the full article here.
The spring market continued to gain traction in May, with 941 homes sales, up 3.1 per cent. "The market appears to be rallying after a somewhat slow start to the year," says Doug Pedlar, President of the London and St. Thomas Association of REALTORSÂ.
"Condos were a little soft (down 6.2 per cent) but detached homes were up by 5.1 per cent." He adds, "We're also pleased to note that new listings are up 8.2 per cent and inventory ` the number of active listings end of period - is up 3.8 per cent. Those figures indicate that we remain in a balanced market overall ` good news for buyers and sellers alike."
Read the full article here.
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A taller, smaller, more expensive real estate market in Toronto
Fewer new homes being delivered today will affect the region`s housing market tomorrow.
But with so many new condominium buildings cropping up across the GTA, how is it possible that we`re creating fewer new homes today than a decade ago?
Read the full article here.
Fewer new homes being delivered today will affect the region`s housing market tomorrow.
But with so many new condominium buildings cropping up across the GTA, how is it possible that we`re creating fewer new homes today than a decade ago?
Read the full article here.
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Ontario tenants hammered with double digit rent increases
When Sacha Proctor received a notice from his landlord that his rent would increase 17.6 per cent on May 1, he tried to move to a similar unit with a lower price tag in the same building.
`But they refused to meet with us,` he said.
Read the full article here.
When Sacha Proctor received a notice from his landlord that his rent would increase 17.6 per cent on May 1, he tried to move to a similar unit with a lower price tag in the same building.
`But they refused to meet with us,` he said.
Read the full article here.
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Construction workers hit hard as London deals with high unemployment rate
About one quarter of London`s construction workers are off the job or heading out of the city to find work, a union official says, underlining how many in an industry that looks fine on the surface are struggling in a market running Canada`s highest metro jobless rate.
Hit by the stubborn economic downturn in London, and slumping new-home construction, there`s a shrinking pool of work in the city for builders, says Jim MacKinnon, business manager for the Labourers Union, Local 1059, the union representing construction workers.
Read the full article here.
About one quarter of London`s construction workers are off the job or heading out of the city to find work, a union official says, underlining how many in an industry that looks fine on the surface are struggling in a market running Canada`s highest metro jobless rate.
Hit by the stubborn economic downturn in London, and slumping new-home construction, there`s a shrinking pool of work in the city for builders, says Jim MacKinnon, business manager for the Labourers Union, Local 1059, the union representing construction workers.
Read the full article here.
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London unemployment rate not a cut and dry matter
It`s a number many people know, and even more pay attention to, but do you really understand the local unemployment rate?
Statistics Canada will release the latest data Friday ` reflecting what was happening in the London area during May. If the recent trend continues ` incremental monthly climbs since January ` the rate will hit double digits.
Read the full article here.
It`s a number many people know, and even more pay attention to, but do you really understand the local unemployment rate?
Statistics Canada will release the latest data Friday ` reflecting what was happening in the London area during May. If the recent trend continues ` incremental monthly climbs since January ` the rate will hit double digits.
Read the full article here.
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Ontario gains 50,600 jobs in May
The Ontario government's focus on creating jobs and growing our economy continues to get results. In May, the province gained 50,600 jobs. Youth employment rose by 20,200 jobs.
The number of jobs in Ontario has increased 452,500 net jobs from a low in June 2009, with full-time employment up 477,500. This means Ontario has recovered all the jobs lost during the recession and continues to outpace the United States and Great Lakes region in job creation since 2009.
Read the full article here.
The Ontario government's focus on creating jobs and growing our economy continues to get results. In May, the province gained 50,600 jobs. Youth employment rose by 20,200 jobs.
The number of jobs in Ontario has increased 452,500 net jobs from a low in June 2009, with full-time employment up 477,500. This means Ontario has recovered all the jobs lost during the recession and continues to outpace the United States and Great Lakes region in job creation since 2009.
Read the full article here.
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Unemployment rate still dropping in Brantford-Brant
For the seventh straight month the unemployment rate in the Brantford area continued dropping.
Figures released Friday by Statistics Canada and BrantJobs show the areas unemployment rate sitting at 7.2%, a drop from 7.6% in April. The rate is at its lowest in well over a year, showing a gradual, measured improvement in the local labour market.
Read the full article here.
For the seventh straight month the unemployment rate in the Brantford area continued dropping.
Figures released Friday by Statistics Canada and BrantJobs show the areas unemployment rate sitting at 7.2%, a drop from 7.6% in April. The rate is at its lowest in well over a year, showing a gradual, measured improvement in the local labour market.
Read the full article here.
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Ontario May housing starts
TORONTO, ONTARIO--(Marketwired - June 10, 2013) - Housing starts in the Ontario region were trending at 57,773 units in May, compared to 56,073 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
"As expected, residential construction bounced back from historically low levels in April. Even though housing starts were running above trend, May starts were still better in line with demographic demand in the province of Ontario. More modestly priced housing led the gains as a backlog of apartment structures that sold in recent years broke ground as did row structures in May," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the full article here.
TORONTO, ONTARIO--(Marketwired - June 10, 2013) - Housing starts in the Ontario region were trending at 57,773 units in May, compared to 56,073 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
"As expected, residential construction bounced back from historically low levels in April. Even though housing starts were running above trend, May starts were still better in line with demographic demand in the province of Ontario. More modestly priced housing led the gains as a backlog of apartment structures that sold in recent years broke ground as did row structures in May," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the full article here.
May 2013 Toronto housing starts
TORONTO, ONTARIO--(Marketwired - June 10, 2013) - Housing starts in the Ontario region were trending at 57,773 units in May, compared to 56,073 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
"As expected, residential construction bounced back from historically low levels in April. Even though housing starts were running above trend, May starts were still better in line with demographic demand in the province of Ontario. More modestly priced housing led the gains as a backlog of apartment structures that sold in recent years broke ground as did row structures in May," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the full article here.
TORONTO, ONTARIO--(Marketwired - June 10, 2013) - Housing starts in the Ontario region were trending at 57,773 units in May, compared to 56,073 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
"As expected, residential construction bounced back from historically low levels in April. Even though housing starts were running above trend, May starts were still better in line with demographic demand in the province of Ontario. More modestly priced housing led the gains as a backlog of apartment structures that sold in recent years broke ground as did row structures in May," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the full article here.