TORONTO, ONTARIO`(Marketwired ` June 9, 2014) - Housing starts in the Ontario region were trending at 55,583 units in May, compared to 54,500 units 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.
`While total residential construction activity remained stable in May, low density starts, which includes single detached, semi detached and row construction reached their highest levels in over a year. Low resale and new home inventories for low density housing, continued low interest rates and improving income growth remain supportive of low density construction across the province,` said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.
TORONTO, ONTARIO`(Marketwired ` June 9, 2014) - Housing starts in the Toronto Census Metropolitan Area (CMA) were trending slightly higher at 32,812 units in May compared to 32,680 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.
`Sales of single-detached homes began to strengthen in 2013 and some appear to have translated into starts by May 2014. However, fewer overall new home sales last year continued to drag down total starts activity this year,` said Ed Heese, CMHC`s Toronto Senior Market Analyst.
It was the best May ever for house sales across the GTA, and prices continued to climb ` up 8.3 per cent on average from a year ago ` in the face of fewer listings and ever-more-intense competition, according to figures released by the Toronto Real Estate Board Wednesday.
The average sale price across the GTA was $585,204, up from an average of $540,544 in May of 2013.
TORONTO - Housing starts in the Kitchener-Cambridge-Waterloo Census Metropolitan Area (CMA) were trending down slightly at 3,130 units in May compared to 3,351 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) (1) of housing starts.
"Apartment construction temporarily paused following an irregular number of starts in April, while starts of other dwelling types were stable. However, a tight resale market in the lower price ranges and greater rental demand suggest apartment construction will resume shortly", said Anthony Passarelli, CMHC's Market Analyst for Kitchener-Cambridge-Waterloo.
Oshawa`s unemployment rate took a turn for the worse in May, increasing to 7.3 per cent.
This was up from April`s seven per cent and from December, when it was also seven per cent. Compared to a year ago, however, unemployment actually dropped 0.1 percentage points, according to the latest from Statistics Canada.
TORONTO, ONTARIO--(Marketwired - June 11, 2014) - The rental apartment vacancy rate[sup]1 in Ontario urban centres2[/sup] was 2.8 per cent in April, 2014, up slightly from 2.6 per cent in April 2013 according to the Spring Rental Market Survey released today by Canada Mortgage and Housing Corporation.
"Less international migration and more condominium rental completions exerted upward pressure on vacancy rates across the province. Meanwhile, stronger employment among younger households who typically rent and fewer rental households moving to homeownership supported rental demand in Ontario this spring. A slight uptick in rental vacancies was the net effect these factors had on the rental market in the spring of 2014," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist
Home Builder's Association head hopeful for compromise after city approves development fee hike
Council approved the higher rates Wednesday, saying they are needed to fund growth in the city for the next 10 to 17 years. Under the changes, development fees on some houses could rise by more than $5,000.
TILLSONBURG - Siemens has officially shipped its first 'made-in-Canada' wind turbine blade from its manufacturing facility in Tillsonburg.
After last week`s send-off from employees, who crafted the piece by hand, the 49-metre blade left the plant and made its way along area highways en route to the region of Chatham-Kent where it will be used in the commissioning of the South Kent Wind project
OTTAWA - Finance Minister Joe Oliver says Ontario is facing a difficult economy, but is urging Liberal Premier Kathleen Wynne to aggressively take on the province's growing deficit in next month's post-election budget.
The Liberals, who won a majority in last week's provincial election, are expected to re-introduce essentially the same budget they were defeated on when the legislature returns July 2 ` including adding more than $1 billion to the deficit to take it to $12.5 billion.
Price gains for Toronto's luxury condos lag their neighbourhoods
People who have bought condos in some of Toronto`s swankiest buildings in recent years have often done worse, from a price appreciation point of view, than they would have if they bought more modest homes in the neighbourhood.
Toronto, Ontario -- Jun 18, 2014 / The number of homes for sale picked up considerably in June ` with new listings up 7.8 per cent over a year ago ` but pent-up demand continues to outstrip supply, says the Toronto Real Estate Board
For that reason, TREB is predicting a seller`s market for at least the rest of this year.
The average GTA house price as of mid-June was $582,100, up some 8.6 per cent from the average price of $535,865 at the same time last year, said TREB in a release highlighting sales as of mid-month released Tuesday.
GTA house listings pick up in June, but so do sales
The number of homes for sale picked up considerably in June ` with new listings up 7.8 per cent over a year ago ` but pent-up demand continues to outstrip supply, says the Toronto Real Estate Board.
For that reason, TREB is predicting a seller`s market for at least the rest of this year.
TORONTO - The Ontario government is capping next year's rent increases at 1.6 per cent.
The cap, also known as the rent increase guideline, is the maximum a landlord can raise a tenant's rent without the approval of the Landlord and Tenant Board.
It applies to rent increases between Jan. 1 and Dec. 31, 2015.
Georgian College, Lakehead University partner on downtown Barrie
Promising a downtown campus that would include design and visual arts students as well as an entrepreneurship hub, Georgian College and Lakehead University have asked Barrie to support its bid in a provincial competition.
With a June 27 provincial deadline to file a notice of intent, followed by a complete proposal due by September, both Lakehead and Laurentian universities could be vying for the city`s support.
Georgian and Lakehead presented council with their long-term vision for a second city campus Monday night.
Most residential tenants are long-term tenants who pay their rent on time and properly look after a landlord`s property. The trick is to do the proper research in advance so that you do not end up with the tenant from hell. Here are some tips:
1. When you advertise for tenants, whether on Kijiji, Viewit or gottarent.com, also state `we do background and credit checks.` You will receive a greater percentage of qualified tenants.
