November 2014 Ontario Economic Fundamentals

Ally

Research Assistant
Registered
At City Hall, homeowners call the tune





In municipalities across Ontario, candidates for local office are doing everything they can to reach voters before Election Day on Oct. 27. The campaign, which officially kicked off in January, is in the home stretch. By this point, candidates have knocked on hundreds of doors, shaken hands at summer festivals and block parties and spoken at countless community meetings and debates.





If you are a homeowner, however, your local candidates have likely been paying special attention to you. The reason for this is simple: Data from the General Social Survey, conducted annually by Statistics Canada, show that homeowners vote at much higher rates in municipal elections than renters. The gap is significant even after controlling for a variety of other factors known to influence voter turnout, including age, income and education. While the difference also exists in federal and provincial elections, it is particularly acute at the municipal level.





Read the full article here.
 

Ally

Research Assistant
Registered
First-time buyers find Toronto real estate market as hot as ever






First-time homebuyers Jody and Michael Fegelman have heard a lot of talk over the last year about Canada`s cooling housing market. All the couple have felt is the sting of its heat.




During their 1Â-year search for a home for their two young children, the Fegelmans have been on the losing end of three grueling bidding wars. They have paid for a home inspection on a place someone else got by paying $80,000 over the asking price.





Read the full article here.
 

Ally

Research Assistant
Registered
Developers shifting sights to two-bedroom condos






Developers appear to finally be getting the message that not everyone wants to live in a tiny shoebox in the sky.







The number of shrinking, one-bedroom condos coming on the market has declined dramatically just over the last few months, in favour of more two-bedroom units averaging more than 800 square feet and better suited to first-time buyers and young families, says new-home research firm RealNet Canada Inc.





Read the full article here.
 

Ally

Research Assistant
Registered
Reshaping the GTA





It has been nearly a decade since the Ontario government introduced Places to Grow ` the provincial growth plan created to strategically accommodate future population growth, support economic prosperity and achieve a high quality of life for all Ontarians ` and one doesn`t have to look far to notice the effects





Read the full article here.
 

Ally

Research Assistant
Registered
Future development is mixed-use





Expect mixed-use properties, where residential and commercial buildings come together, to be the next big trend in Toronto`s development, according to the Emerging Trends in Real Estate 2015 report, released by PwC and the Urban Land Institute (ULI) earlier this week.


Looking ahead to 2015, a common trend among all industry players will be the search for opportunities in and around the city core. With more people moving into city centres for work and lifestyle purposes, companies and retailers are following them and driving new office and commercial developments.


Read the full article here.
 

Ally

Research Assistant
Registered
Toronto condo market sees one of its best years





As the Bank of Canada and other market watchers keep a wary eye on Toronto housing, condo buyers are out in force.





Indeed, the market for new condominiums in Canada`s biggest city appears headed for one of its best-ever years.





Urbanation, which tracks the city`s condo market, said Thursday that both sales and prices for new units climbed in the third quarter of the year.





Read the full article here.
 

Ally

Research Assistant
Registered
New Google office in Kitchener a sign of the city's transition





KITCHENER ` The construction of new offices for Google on the edge of downtown Kitchener is a major turning point in the city core's transition to a centre for the digital economy, say observers in the architecture and real estate fields.





The building at King Street West and Breithaupt Street is quickly taking shape.





Read the full article here.
 

Ally

Research Assistant
Registered
Final version of 'futuristic' Waterloo development gets council go-ahead





WATERLOO ` Iconic. Remarkable. Futuristic. Those were just three of the words councillors used Monday to describe a five-building, multiuse project on a massive swath of land at 124 and 130 Columbia St. W. and 365 Albert Street.





Councillors approved the third and final version of the Prica Group project unanimously.





Read the full article here.
 

Ally

Research Assistant
Registered
Greater Toronto REALTORS release resale housing market figures





TORONTO, ONTARIO -- (Marketwired) -- 11/05/14 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS reported 8,552 sales through the TorontoMLS system in October 2014. This result represented an increase of 7.7 per cent compared to October 2013. New listings were also up on a year-over-year basis, but by a lesser 3.4 per cent.








"Strong growth in sales was evident across all major home types during the first full month of fall. This suggests that there are a lot of households across the Greater Toronto Area who remain upbeat about the benefits of home ownership over the long term, whether we're talking about first-time buyers or existing home owners looking to change their housing situation," said Mr. Etherington.





Read the full article here.
 

Ally

Research Assistant
Registered
The Crosstown: LRT ABCs





Rapid transit is coming to Toronto. This includes the Eglinton Crosstown, a 19 km light rail transit line - LRT for short. Light rail is new to Toronto but is used all around the world. Visit www.thecrosstown.ca to learn more.





Read the full article here.
 

Ally

Research Assistant
Registered
Canada to invest $857 million in 3 Alliston plants in Ontario





Honda will invest $857 million in its three plants in Alliston, Ont., along with financial support from government.





Premier Kathleen Wynne will be at the facility, alongside Honda officials, to announce the news on Thursday morning.





Read the full article here.
 

Ally

Research Assistant
Registered
Canada building permits surge in September on Ontario demand





The total value of building permits issued by Canadian municipalities in September rose 12.7% to 7.50 billion Canadian dollars ($6.58 billion), Statistics Canada said Thursday. Expectations were for a 5% advance, according to economists at Royal Bank of Canada.





Read the full article here.
 
Top