September 2013 Ontario Economic Fundamentals

[Ally]

Oshawa unemployment staying down




Oshawa`s unemployment rate saw a minimal increase in August, but remains lower than both the provincial and national average.




According to Statistics Canada`s latest labour force survey, the unemployment rate for the Oshawa census metropolitan area, which includes Whitby and Clarington, grew to 6.5 per cent in August from 6.4 per cent in July.





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[Ally]

Foreign buyers fuelling sales in luxury real estate market




TORONTO - Sales of luxury homes will likely gain momentum in the fall, fuelled by demand from international investors, according a new report from real estate sales and marketing company Sotheby's International Realty Canada.




The report released Tuesday suggests the largest proportion of foreign buyers will be from China, Russia, the Middle East, India and the U.S.





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[Ally]

Sudbury's high rents a part of national trend




Income inequality is increasing in Sudbury, according to Statistics Canada`s National Household Survey.




The report, which focuses on income and the affordability of housing, says one in five people in Greater Sudbury are paying more than 30 percent of their income on rent.





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[Ally]

Huge complex, 2,100 jobs for Orleans




It's considered the biggest thing to happen to OrlÃans in years: A $300-million mixed-use centre that

has the potential to employ 2,100 people in office and retail jobs.




To people living in Ottawa's core, it probably doesn't seem like a big deal -- office buildings and residential buildings six to 10 storeys tall, retail stores and a banquet hall.





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[Ally]

Ontario rent cap second lowest since 1975




Ontario is capping rent increases for 2014 at 0.8 per cent for the province's one million tenant households -- the second lowest cap since the introduction of rent regulation 38 years ago.




The cap, also known as the Rent Increase Guideline, is the maximum amount a landlord can increase a tenants' rent without seeking the approval of the Landlord and Tenant Board.





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