October 2015 Ontario Economic Fundamentals

Ally

Research Assistant
Registered
Imagine if YOUR business was only operating at 10%. You'd make adjustments. NOT #Metrolinx Airport express

Toronto’s new Union Pearson Express train service, which connects the airport to the city’s downtown core, is running at about 10 percent capacity. But Metrolinx President and CEO Bruce McCuaig says it’s only a matter of time until ridership improves, calling the controversial $27.50 one-way ticket price ($19 with a Presto card) “reasonable”.

Read the full article here.
 

Ally

Research Assistant
Registered
Toyota is investing $421Million into #Cambridge ON. A massive amount that will have a positive ripple for years

Toyota Motor Manufacturing Canada will invest $421 million to launch the next generation Lexus RX 350 and 450h vehicles at its assembly plant in southwestern Ontario.

As previously reported, the federal and provincial governments are supporting the investment.


Read the full article here.
 

Ally

Research Assistant
Registered
Ontario Housing Market's Strong Growth Will Continue Through 2017, Says Central 1 Credit Union

TORONTO, ONTARIO--(Marketwired - Oct. 5, 2015) - Ontario home prices, sales and starts will keep rising for the next two years, says a new forecast by Central 1 Credit Union.

The surprising strength of the Ontario market this year has led Central 1's Chief Economist Helmut Pastrick to boost his forecast for this year and 2016 and 2017.


Read the full article here.
 

Ally

Research Assistant
Registered
Expect more rich bidding wars for $1-million Toronto homes

Home sales and prices are surging across the Toronto region.

Sales hit a September record last month, up 2.5 per cent from a year earlier, to reach 8,200, according to the Toronto Real Estate Board today.

Read the full article here.
 

Ally

Research Assistant
Registered
City says Guelph has an affordable housing deficit

GUELPH — Guelph has a significant affordable housing deficit, says a new city report.

But a new city strategy is being crafted to address the problem that is influenced by a number of contemporary circumstances and future projections. The strategy should be completed by early 2016.

The city's infrastructure, development and enterprise service area outlines the problem in a detailed report that was explored at the committee level of council Tuesday night. The main message of the report is that "affordability is the main housing problem in Guelph."


Read the full article here.
 

Ally

Research Assistant
Registered
Nordia plans to hire 45 more at Orillia centre

Nordia Inc. is celebrating its second anniversary in Orillia by growing its customer service centre again. The company has immediate openings for at least 45 new full-time customer service representatives and has launched a recruitment campaign to hire for training classes starting in October.

“Since coming to Orillia in October 2013, we have doubled the number of employees at our centre – from 150 to over 300, but we have even more opportunities to grow,” said Kerri Dryden, director of the Nordia Orillia centre. “For people who are passionate about customer service, Nordia offers the best compensation in the industry as well as great career opportunities. That’s why we are the fastest growing provider of customer service solutions in Canada.”

Read the full article here.
 

Ally

Research Assistant
Registered
Wait, are you saying the Liberal govt in Ontario is cutting funds to education and healthcare, despite that going against their election promises. Hmmmm

Ontario doctors are going digital in their fight against a looming fee cut, using social media to highlight their heavy workloads and long hours.

The social media campaign has doctors taking photos of themselves working at all hours, and sharing them on Twitter with the hashtag #oncall4ON.

Read the full article here.
 

Ally

Research Assistant
Registered
Shopify expansion in Waterloo Region to employ 300

The business world has changed and there’s no going back.

If anyone is living proof of this statement, it’s Tobias Lütke, CEO of Shopify, the Ottawa-based e-commerce juggernaut that announced a major expansion of its Waterloo Region operations on Thursday. Plans call for a 300-employee office in the former Seagram Museum/CIGI building in Waterloo’s core to open in April 2016.

Read the full article here.
 

Ally

Research Assistant
Registered
Canadian Real Estate Wealth Magazine places Orillia among top 100 places to invest

Orillia has been recognized as one of the best places to invest in Canada — a designation that comes as no surprise to the city’s economic development manager.

“I’ve been calling it the waves of inevitability,” Dan Landry said when discussing southeastern Orillia as being one of the top 100 neighbourhoods for investment, according to Canadian Real Estate Wealth magazine.

Read the full article here.
 

Ally

Research Assistant
Registered
Ontario aims to cash in on Toronto property-assessment rebates

The Ontario government is trying to squeeze millions of dollars out of the City of Toronto by appealing the property-tax assessments on several provincial properties – including the Legislature Building at Queen’s Park and the headquarters of the Ministry of Finance.

The bizarre manoeuvre involves the province fighting its own property-tax-assessment system, arguing that it messed up when calculating the worth of the properties.

Read the full article here.
 

Ally

Research Assistant
Registered
A massive investment into Cambridge Ontario will help keep it at or near the top of the Ontario Top 10 Cities for real estate in Canada

Toyota Motor Manufacturing Canada will invest $421 million to launch the next generation Lexus RX 350 and 450h vehicles at its assembly plant in southwestern Ontario.

As previously reported, the federal and provincial governments are supporting the investment.


Read the full article here.
 

Ally

Research Assistant
Registered
Hamilton experiences significant home price increases in third quarter

HAMILTON, ON , Oct. 14, 2015 /CNW/ - The Royal LePage House Price Survey [1] released today showed notable year-over-year median price increases for homes in the two-storey and bungalow categories in Hamilton . In the third quarter of 2015, the aggregate [2] price of a home in the city increased 8.4 per cent to $395,404 .

Broken out by housing type, the median price of a two-storey home increased 8.7 per cent year-over-year to $429,120 , while bungalows rose 9.0 per cent to $343,088 . In contrast, condominium prices weakened on a year-over-year basis, dropping 4.4 per cent to $233,846 .

"Properties in the downtown core and around the University are experiencing sales increases as the result of greater interest from investors outside of Hamilton capitalizing on the opportunities in the market," said Joe Ferrante , broker of record, Royal LePage State Realty. " Hamilton and, by extension, its housing market continue to make economic strides and are benefiting from improved transportation infrastructure and new investment in manufacturing in the region."

Read the full article here.
 

Ally

Research Assistant
Registered
How much are homes in Toronto neighbourhoods

Toronto’s resale market powered through the early part of 2015 and enters fall with average prices up 10 per cent over last year. “The biggest story in 2015 has been strong demand in Toronto’s condo market,” says Realosophy Realty Inc., Brokerage president John Pasalis. The buyers’ embrace of condos is “easing concerns about oversupply and a potential bubble.”

Home sales data compiled by Realosophy shows a steep increase in condo apartment sales volume, up 14 per cent over last year. “With prices surging for detached and semi-detached homes due to lack of supply, condos are becoming the go-to house type for many first-time home buyers.”

Read the full article here.
 

Ally

Research Assistant
Registered
High levels of red tape stifling residential developments in Oakville, Oshawa, Toronto, and other communities in Ontario's Greater Horseshoe

Amid increasing concerns about housing affordability in Southern Ontario, New Homes and Red Tape: Residential Land-Use Regulation in Ontario’s Greater Golden Horseshoe is the Fraser Institute’s first ever survey of Ontario homebuilders. It compares and ranks jurisdictions across the Greater Golden Horseshoe on several categories of red tape (construction approval times, timeline uncertainty, regulatory costs and fees, rezoning prevalence and the effect council and community groups have on development) based on the experiences and opinions of industry professionals. The survey — which is part of a broader effort to understand the effects of land-use regulation on Canadian housing supply — finds that Oakville, Oshawa and Toronto are among the most regulated municipalities in the Greater Golden Horseshoe and consequently among the most difficult in which to build new housing.

Read the full article here.
 

Ally

Research Assistant
Registered
House prices in some GTA suburbs rising more quickly thank Toronto

House prices in some Greater Toronto Area (GTA) suburbs have gone up more quickly than Toronto's downtown core, according to a new report from Royal LePage.

Since last year, the real estate franchiser found that the average price of a home in the GTA rose 11.3 per cent from to just over $612,000 — while houses in the city's core went up 11.2 per cent, in the same period, to more than $639,000.

Read the full article here.
 

Ally

Research Assistant
Registered
What happened at Ottawa city council on Wednesday

The cost of on-street parking in Ottawa during the winter is poised to increase steeply.

While the price of an annual parking permit will remain $648, the current monthly fee of $59 will change depending on the season: during the summer months, the fee will fall to $30, but during the winter months, it will spike to $140 for each of the months between December and March. Permit holders are exempt from the overnight parking ban during the winter storms.

Read the full article here.
 

Ally

Research Assistant
Registered
Mayor discusses changes to Orillia Power in latest Municipal Monthly column

It’s been a few weeks since council announced the city is entering negotiations with Hydro One that could see $200 million to $300 million in economic impact on the city over the next few years. With a vision of developing an advanced technology hub on the majority of the 42 acres of city-owned employment lands in west Orillia, this opportunity has the potential to be truly transformative for our community.

Hydro One has made it clear in order to invest in our city, it would have to acquire the distribution assets of the Orillia Power Corporation (OPC). Council has made it very clear the generation side of OPC will not be affected.

Read the full article here.
 

Ally

Research Assistant
Registered
Idea Quarter takes shape in former Blackberry buildings in Waterloo

WATERLOO — The Waterloo Innovation Network has plans to transform the former BlackBerry properties near Phillip and Columbia streets into a mixed-use, high-density technology cluster that will include several new buildings.

In the short term, the network wants to buy another former BlackBerry building on Phillip Street.

Michael Wekerle, the former Bay Street trader who founded the network, has invested nearly $50 million in six old BlackBerry properties he bought along Columbia and Phillip streets last year. The flamboyant entrepreneur will be spending a lot more if his vision is realized.

Read the full article here.
 

Ally

Research Assistant
Registered
Greater Toronto realtors report rental market figures

TORONTO, ONTARIO--(Marketwired - Oct 16, 2015) - Toronto Real Estate Board President Mark McLean announced that there were 9,635 condominium apartment rental transactions reported through TREB's MLS® System in the third quarter of 2015. This result represented a 22.6 per cent increase compared to Q3 2014. The annual increase in rentals was slightly greater than the annual increase in the number of units listed for rent.

One-bedroom and two-bedroom units accounted for almost 95 per cent of condominium apartment rentals. The number of one-bedroom apartments rented was up by 24.7 per cent compared to Q3 2014. The number of two-bedroom apartment rentals was up by 18 per cent. "Investor-owned condominium apartments remained a very popular option in the third quarter and, indeed, over the past year as well. Strong growth in rental listings were matched by strong growth rental transactions. This tells us that there are a lot of households looking to rent in the Greater Toronto Area and that many of these renters are choosing units in recently completed condominium apartment projects," said Mr. McLean.

Read the full article here.
 
Top