October 2014 Ontario Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
How much are homes in Toronto neighbourhoods
See how prices have changed in your neighbourhood in Globe Real Estate`s exclusive Toronto-area survey. Using a data mapping methodology developed by Realosophy.com, Toronto Real Estate sales and pricing information have been assigned to actual neighbourhood boundaries. Blank areas on the map correspond to areas of high commercial or industrial activity with low residential use or where sales activity was negligible. Note: The data on this map is intended to compare the spring or fall market with the same period from the previous year. Some of the data may by skewed by a smaller or larger number of sales compared to the previous year.
Read the full article here.
See how prices have changed in your neighbourhood in Globe Real Estate`s exclusive Toronto-area survey. Using a data mapping methodology developed by Realosophy.com, Toronto Real Estate sales and pricing information have been assigned to actual neighbourhood boundaries. Blank areas on the map correspond to areas of high commercial or industrial activity with low residential use or where sales activity was negligible. Note: The data on this map is intended to compare the spring or fall market with the same period from the previous year. Some of the data may by skewed by a smaller or larger number of sales compared to the previous year.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Will light rail transit debate railroad your vote?
Hamilton voters are flying blind on the priciest question of the municipal election.
The next council will likely play deal-maker or deal-breaker on the biggest infrastructure investment in Hamilton's modern history: An $811-million light rail transit line.
Read the full article hear.
Hamilton voters are flying blind on the priciest question of the municipal election.
The next council will likely play deal-maker or deal-breaker on the biggest infrastructure investment in Hamilton's modern history: An $811-million light rail transit line.
Read the full article hear.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto's population expected to swell to nearly 6.7 million by 2025
The streetcars are crammed with commuters in rush hour, Trinity Bellwoods Park is jam packed on warm days and swarms of shoppers descend on the Eaton Centre on weekends. There are pockets of Toronto that tend to feel more than a little bit crowded much of the time. But according to Bloomberg News, the city will feel even more densely crowded in the years to come.
A ranking of the `most crowded cities` looked at 40 urban areas around the globe. It listed cities where population growth within one generation (or between 1995 and 2025) was expected to reach 4.5 million, based on population per square mile. The ranking used numbers from Bloomberg`s own data, Demographia, International Monetary Fund and the United Nations.
Read the full article here.
The streetcars are crammed with commuters in rush hour, Trinity Bellwoods Park is jam packed on warm days and swarms of shoppers descend on the Eaton Centre on weekends. There are pockets of Toronto that tend to feel more than a little bit crowded much of the time. But according to Bloomberg News, the city will feel even more densely crowded in the years to come.
A ranking of the `most crowded cities` looked at 40 urban areas around the globe. It listed cities where population growth within one generation (or between 1995 and 2025) was expected to reach 4.5 million, based on population per square mile. The ranking used numbers from Bloomberg`s own data, Demographia, International Monetary Fund and the United Nations.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary and Toronto office markets outperform
CALGARY - Lacklustre job creation continues to impact demand for commercial real estate in Canada, but office markets in Calgary and Toronto are outperforming the rest of the country, according to the CBRE Limited`s National Office and Industrial Third Quarter 2014 Statistical Summary released on Thursday.
The report said tepid job growth has undermined office leasing activity in Canada, but has been unable to stem an historic industrial construction boom.
Read the full article here.
CALGARY - Lacklustre job creation continues to impact demand for commercial real estate in Canada, but office markets in Calgary and Toronto are outperforming the rest of the country, according to the CBRE Limited`s National Office and Industrial Third Quarter 2014 Statistical Summary released on Thursday.
The report said tepid job growth has undermined office leasing activity in Canada, but has been unable to stem an historic industrial construction boom.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ontario government reaffirms commitment to Scarborough subway after minister's mixed signals
As the debate over the Scarborough subway rages in the Toronto mayoral race, Ontario`s transportation minister was forced on Wednesday to clarify again that the Liberal government is `moving forward` with the transit project, after the finance minister refused to commit to such a position.
`I`m saying here we`re going to build public transit. We`re building subways, we`re building LRTs, we`re building BRTs, we`re building Go Trains. We are building,` Finance Minister Charles Sousa told reporters outside Toronto city hall, after celebrating national seniors` day alongside mayoral contenders.
Read the full article here.
As the debate over the Scarborough subway rages in the Toronto mayoral race, Ontario`s transportation minister was forced on Wednesday to clarify again that the Liberal government is `moving forward` with the transit project, after the finance minister refused to commit to such a position.
`I`m saying here we`re going to build public transit. We`re building subways, we`re building LRTs, we`re building BRTs, we`re building Go Trains. We are building,` Finance Minister Charles Sousa told reporters outside Toronto city hall, after celebrating national seniors` day alongside mayoral contenders.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ford Canada to hire 1,000 workers as it gears up to manufacture new Edge vehicle
TORONTO ` In a rare sign of growth for the Canadian auto industry, Ford Motor Co. of Canada is adding more than 1,000 jobs even as its parent company slashes its profit forecast and recalls hundreds of thousands of vehicles.
Ford Canada is hiring more than 1,000 hourly workers as it ramps up for a new version of the Edge crossover utility vehicle that will be built on a global platform at its plant in Oakville, Ont., and sold in more than 100 countries.
Read the full article here.
TORONTO ` In a rare sign of growth for the Canadian auto industry, Ford Motor Co. of Canada is adding more than 1,000 jobs even as its parent company slashes its profit forecast and recalls hundreds of thousands of vehicles.
Ford Canada is hiring more than 1,000 hourly workers as it ramps up for a new version of the Edge crossover utility vehicle that will be built on a global platform at its plant in Oakville, Ont., and sold in more than 100 countries.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Greater Toronto REALTORS report monthly housing resale figures
TORONTO, ONTARIO -- (Marketwired) -- 10/03/14 -- Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014. This result represented a 10.9 per cent increase compared to September 2013. On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 per cent annually to 73,465.
"Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014. This is evidence that GTA households remain upbeat about purchasing a home. The majority of home buyers purchase a home using a mortgage. The share of the average household's income dedicated to their mortgage payment remains affordable, which is why buyer interest has remained solid," said Mr. Etherington.
Read the full article here.
TORONTO, ONTARIO -- (Marketwired) -- 10/03/14 -- Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014. This result represented a 10.9 per cent increase compared to September 2013. On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 per cent annually to 73,465.
"Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014. This is evidence that GTA households remain upbeat about purchasing a home. The majority of home buyers purchase a home using a mortgage. The share of the average household's income dedicated to their mortgage payment remains affordable, which is why buyer interest has remained solid," said Mr. Etherington.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Millennials spurring Canadian condo boom bet on rates
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a C$360,000 ($323,000) one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a C$320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
`It was worth it because interest rates didn`t seem too bad -- you have to strike while the iron is hot, right?` Qureshi, 29, said from his car en route to his 12th-floor apartment overlooking Lake Ontario. `They won`t raise interest rates anytime soon. I know it. People have been saying rates will rise for years and it hasn`t happened.`
Read the full article here.
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a C$360,000 ($323,000) one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a C$320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
`It was worth it because interest rates didn`t seem too bad -- you have to strike while the iron is hot, right?` Qureshi, 29, said from his car en route to his 12th-floor apartment overlooking Lake Ontario. `They won`t raise interest rates anytime soon. I know it. People have been saying rates will rise for years and it hasn`t happened.`
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ontario's economy finally on upswing, which is good news for Alberta
EDMONTON - Murray Edwards is best known as the chairman of Canadian Natural Resources Ltd., one of Alberta`s biggest energy giants.
But the Calgary tycoon has other holdings, too, including a large stake in Imperial Metals, whose Mount Polley gold-copper mine was the site of one of Canada`s worst mining disasters in August.
Read the full article here.
EDMONTON - Murray Edwards is best known as the chairman of Canadian Natural Resources Ltd., one of Alberta`s biggest energy giants.
But the Calgary tycoon has other holdings, too, including a large stake in Imperial Metals, whose Mount Polley gold-copper mine was the site of one of Canada`s worst mining disasters in August.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
WAM planning major project on Jasper Avenue with residences, office space
EDMONTON - The developer of Edmonton`s new downtown arena district plans to build a highrise on Jasper Avenue that will include retail and commercial office space, as well as 300 residential suites.
Construction on the project between 120th and 121st streets is expected to begin in the fall of 2016, with residences occupied by the fall of 2018.
Read the full article here.
EDMONTON - The developer of Edmonton`s new downtown arena district plans to build a highrise on Jasper Avenue that will include retail and commercial office space, as well as 300 residential suites.
Construction on the project between 120th and 121st streets is expected to begin in the fall of 2016, with residences occupied by the fall of 2018.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Condo building intentions take 'massive' plunge, lead by Toronto
Building intentions for new condos plunged in August in a sign that the record boom in high-rise residential towers in several major markets ` notably Toronto ` may have begun to fade.
Statistics Canada said Tuesday building permits for `multi-family dwellings` fell nearly 30 per cent in August, led by Ontario. British Columbia, home to one of Canada`s other booming markets in Vancouver, was a `distant second,` StatsCan said.
Read the full article here.
Building intentions for new condos plunged in August in a sign that the record boom in high-rise residential towers in several major markets ` notably Toronto ` may have begun to fade.
Statistics Canada said Tuesday building permits for `multi-family dwellings` fell nearly 30 per cent in August, led by Ontario. British Columbia, home to one of Canada`s other booming markets in Vancouver, was a `distant second,` StatsCan said.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Millennials lured by lengthy stretch of low rates spur Canada's condo boom
Qamar Qureshi is doubling down on Toronto`s condo boom.
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a $360,000 one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a $320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
Read the full article here.
Qamar Qureshi is doubling down on Toronto`s condo boom.
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a $360,000 one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a $320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Strong U.S. growth numbers bode well for southwestern Ontario
A resurgent U.S. economy, falling energy prices and a swooning loonie ` `you can`t write a better script for Southwestern Ontario,` a top Canadian economist says.
But Doug Porter, BMO`s chief economist, isn`t the only one upbeat on the London region just now.
Read the full article here.
A resurgent U.S. economy, falling energy prices and a swooning loonie ` `you can`t write a better script for Southwestern Ontario,` a top Canadian economist says.
But Doug Porter, BMO`s chief economist, isn`t the only one upbeat on the London region just now.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Agents on the hook for illegal in-law suites
The Real Estate Council of Ontario (RECO), the body that licenses and governs real estate agents, is cracking down on representatives who advertise two-unit homes without making clear whether the second unit ` usually a basement apartment ` is legal.
Many agents typically use wording such as, `Agents and seller do not warrant legal retrofit status of in-law suite.` Descriptions like this could disappear in the wake of two recent decisions of RECO discipline panels.
Read the full article here.
The Real Estate Council of Ontario (RECO), the body that licenses and governs real estate agents, is cracking down on representatives who advertise two-unit homes without making clear whether the second unit ` usually a basement apartment ` is legal.
Many agents typically use wording such as, `Agents and seller do not warrant legal retrofit status of in-law suite.` Descriptions like this could disappear in the wake of two recent decisions of RECO discipline panels.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto Millennials double down on condo boom
Qamar Qureshi is doubling down on Toronto`s condo boom.
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a $360,000 one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a $320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
Read the full article here.
Qamar Qureshi is doubling down on Toronto`s condo boom.
Qureshi, a senior finance manager at Sun Life Financial Inc., took out a mortgage this year for a $360,000 one-bedroom unit plus den in downtown Toronto to live closer to work. Three years ago, he bought a $320,000 luxury suite before construction started and will begin making payments when it`s finished next year.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
TTC won't run street cars on Cherry until at least 2016
The track work is nearly complete. But it`s likely to be another two years before streetcars are running down Cherry St. from King to south of Mill St.
That`s how long it will take for the new West Don Lands neighbourhood to yield a ridership for the stretch, less than 1 kilometre long, that the TTC will probably operate as a spur of the 504 King streetcar .
Read the full article here.
The track work is nearly complete. But it`s likely to be another two years before streetcars are running down Cherry St. from King to south of Mill St.
That`s how long it will take for the new West Don Lands neighbourhood to yield a ridership for the stretch, less than 1 kilometre long, that the TTC will probably operate as a spur of the 504 King streetcar .
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Bigger condos to lure families
Though they are often thought of as homes for singles and couples, there is a growing movement to make condos large enough to accommodate larger families that include children.
Larger condo units have been a big issue for Toronto city councillor Kristyn Wong-Tam, whose ward includes new condo construction projects near Bay Street and Wellesley Avenue.
Read the full article here.
Though they are often thought of as homes for singles and couples, there is a growing movement to make condos large enough to accommodate larger families that include children.
Larger condo units have been a big issue for Toronto city councillor Kristyn Wong-Tam, whose ward includes new condo construction projects near Bay Street and Wellesley Avenue.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Condo rental demand sees slowest pace of growth in two years
A record 7,132 condo apartments were rented across the GTA in July, August and September, but demand for all those granite-and-glass units now lighting up the city`s skyline appears to be easing, says condo research firm Urbanation.
While the number of condo leases signed was up 10 per cent in the third quarter over the same period a year ago, that`s about half the rate of growth seen during the first half of 2014.
Read the full article here.
A record 7,132 condo apartments were rented across the GTA in July, August and September, but demand for all those granite-and-glass units now lighting up the city`s skyline appears to be easing, says condo research firm Urbanation.
While the number of condo leases signed was up 10 per cent in the third quarter over the same period a year ago, that`s about half the rate of growth seen during the first half of 2014.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Has Toronto's record condo boom ended with a thud?
Construction intentions for new condos in Toronto fell off a cliff in August, data showed earlier this week.
That was followed a day later by additional data showing the number of `starts,` or actual shovels hitting the ground to begin construction on tower units, has similarly deflated to a four and-a-half-year low.
Read the full article here.
Construction intentions for new condos in Toronto fell off a cliff in August, data showed earlier this week.
That was followed a day later by additional data showing the number of `starts,` or actual shovels hitting the ground to begin construction on tower units, has similarly deflated to a four and-a-half-year low.
Read the full article here.