Byline: Kim Covert, Edmonton Journal
Housing sales and prices should remain fairly steady into next year as a slowing economy is balanced by low mortgage rates and relatively low unemployment, a report from BMO Capital Markets suggests.
"Low interest rates have fuelled Canada's housing market in the past decade, pushing prices to new highs in most regions," senior economist Sal Guatieri said Thursday. "However, a weaker economy and new mortgage rules have dimmed activity recently."
Resales have slowed to their past-decade norm under tougher mortgage rules introduced by the federal government in March, and prices have flattened in the last six months on a seasonally adjusted basis, Guatieri said in the report.
The slowing global economy should hold the Bank of Canada from raising its benchmark interest rate - now a near-record low of one per cent - before 2013. As well, an unemployment rate expected to remain around 7.3 per cent through next year should mean continued confidence on the part of homebuyers.
Just as the economies in resource-rich provinces such as Alberta and Saskatchewan are expected to out-perform other regions next year, so too is the housing market in those provinces, Guatieri said.
Friday, September 30, 2011
Thursday, September 29, 2011
Home Safety Tips for Seniors
More than half of all injuries experienced by Canadian seniors are due to falls. According to the Public Health Agency of Canada, nearly half of all injuries among seniors occur in the home, and 15 per cent of falls occur in the bathroom or stairs.
Since the likelihood of serious injury, or even death, increases as you age, take steps to increase safety in the home. Many seniors limit their daily activities and, ultimately, their quality of life to avoid getting injured," says Kelly McCain, a senior director at Royal LePage Canada, "However, a few safety measures at home can improve life all around for Canadian seniors."
To stay safe while maintaining your independence, McCain offers these suggestions:
Ensure all rooms and hallways in your home are well lit and clear of obstacles.
Reduce slipping hazards by removing non-rubber-backed throw rugs and mats on hard flooring surfaces, such as hardwood or ceramic floors.
Install nightlights near stairs and eliminate all clutter.
Make sure that there are solid handrails on both sides of the stairway.
If you have wood stairs, consider installing a carpet runner down the middle or adding traction strips to provide steadier footing.
In the bathroom, make sure that your tub and shower surfaces are non-slip. Install grab bars in your bathtub or shower and purchase rubberized or non-skid bath mats.
Increase safety in the shower by purchasing or renting a bath seat. Some are designed specifically to make your entrance and exit from the tub easier. If you require the use of a bath seat, a hand-held shower head will work best.
Consider purchasing a wireless phone set that allows for a phone on each floor of the home, and populate the digital phone book on all telephones with emergency contact numbers.
Follow these simple safety tips and spend less time worrying, and more time enjoying your home. More information is available at www.royallepage.ca.
Since the likelihood of serious injury, or even death, increases as you age, take steps to increase safety in the home. Many seniors limit their daily activities and, ultimately, their quality of life to avoid getting injured," says Kelly McCain, a senior director at Royal LePage Canada, "However, a few safety measures at home can improve life all around for Canadian seniors."
To stay safe while maintaining your independence, McCain offers these suggestions:
Ensure all rooms and hallways in your home are well lit and clear of obstacles.
Reduce slipping hazards by removing non-rubber-backed throw rugs and mats on hard flooring surfaces, such as hardwood or ceramic floors.
Install nightlights near stairs and eliminate all clutter.
Make sure that there are solid handrails on both sides of the stairway.
If you have wood stairs, consider installing a carpet runner down the middle or adding traction strips to provide steadier footing.
In the bathroom, make sure that your tub and shower surfaces are non-slip. Install grab bars in your bathtub or shower and purchase rubberized or non-skid bath mats.
Increase safety in the shower by purchasing or renting a bath seat. Some are designed specifically to make your entrance and exit from the tub easier. If you require the use of a bath seat, a hand-held shower head will work best.
Consider purchasing a wireless phone set that allows for a phone on each floor of the home, and populate the digital phone book on all telephones with emergency contact numbers.
Follow these simple safety tips and spend less time worrying, and more time enjoying your home. More information is available at www.royallepage.ca.
Monday, September 19, 2011
GTA REALTORS® September Mid-Month Resale Housing Figures
Greater Toronto REALTORS® reported 3,149 transactions during the first 14 days of September, representing an increase of more than 25 per cent in comparison to the first two weeks of September 2010.
New listings over the same period, at 6,890, were up by 14 per cent compared to last year.
The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.
“Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
“In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth,” continued Mercer.
New listings over the same period, at 6,890, were up by 14 per cent compared to last year.
The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.
“Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
“In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth,” continued Mercer.
Thursday, September 8, 2011
Hot Toronto Real Estate market continues
TREB released its August resale market figures today. The report shows that Greater Toronto REALTORS® reported 7,542 sales through the TorontoMLS® system in August – a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010. Market conditions remained tight as sales growth outstripped growth in new listings.
"Home sales in the GTA have stood up well despite a less certain economic outlook," said Toronto Real Estate Board President Richard Silver. "Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City’s land transfer tax. This tax currently represents a substantial upfront cost for home buyers.”
"Home sales in the GTA have stood up well despite a less certain economic outlook," said Toronto Real Estate Board President Richard Silver. "Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City’s land transfer tax. This tax currently represents a substantial upfront cost for home buyers.”
Subscribe to:
Posts (Atom)
