In a news release, Urbanation, a leading condominium market research company, notes that the top developer in 2009 was Tridel, selling 1300+ units, followed by Plazacorp. The top selling site was Lanterra/Cadillac Fairview Ice Condominiums- Phase 2 (beside ACC- our office was involved in a few sale there).
There were 6295 new condo sales in Q4, up 36% over Q3. There were only 917 new units sold across the Toronto CMA in Q1. Total new condo sales for 2009 was 14,792, and increase of 2% over 2008.
According to the news release, over the past 10 years, the average per sq. foot has risen from $173 to $352. It is expected that 19,000 units will occupy in 2010, which should kick-start resale activity and ease some of the supply constraints that have led to record high prices in the resale market.
Also, in case you missed it, the various groundhogs saw their shadow today, meaning 6 more weeks of winter- good for the Olympics anyway! Go Canada Go
Tuesday, February 2, 2010
Monday, January 11, 2010
Crowding and Poverty Rising in Thorncliffe
TORSTAR NEWS SERVICE: January 11, 2010
Severe overcrowding and poverty is heightening stress and ethnic tensions in Canada’s most populated immigrant neighbourhood, says a study of the Thorncliffe Park community released today.
The U of T study of changes in the Toronto neighbourhood between 2001 and 2006 found more than 30,000 residents — mostly newcomers — are crowded into 34 highrise and lowrise apartments in a 2.2-square-kilometre concrete jungle behind Don Mills Road and Don Valley Parkway. Front-line workers are worried the population is outpacing programs and services, hindering their ability to quickly integrate.
“Thorncliffe Park will continue to attract high volumes of newcomers, relative to most neighbourhoods across Greater Toronto. Settlement services, therefore, should remain a high priority,” says the report. “If population and household numbers continue to climb at the same rates, overcrowding and other issues will present increasingly greater challenges.”
The study found each household has an average 1.4 bedrooms compared to 2.7 across the city, but twice as many sleeping in a bedroom as in an average Toronto home. Half of residents live below Statistics Canada’s low-income cut-off, three times the rate for Toronto.
Severe overcrowding and poverty is heightening stress and ethnic tensions in Canada’s most populated immigrant neighbourhood, says a study of the Thorncliffe Park community released today.
The U of T study of changes in the Toronto neighbourhood between 2001 and 2006 found more than 30,000 residents — mostly newcomers — are crowded into 34 highrise and lowrise apartments in a 2.2-square-kilometre concrete jungle behind Don Mills Road and Don Valley Parkway. Front-line workers are worried the population is outpacing programs and services, hindering their ability to quickly integrate.
“Thorncliffe Park will continue to attract high volumes of newcomers, relative to most neighbourhoods across Greater Toronto. Settlement services, therefore, should remain a high priority,” says the report. “If population and household numbers continue to climb at the same rates, overcrowding and other issues will present increasingly greater challenges.”
The study found each household has an average 1.4 bedrooms compared to 2.7 across the city, but twice as many sleeping in a bedroom as in an average Toronto home. Half of residents live below Statistics Canada’s low-income cut-off, three times the rate for Toronto.
Wednesday, January 6, 2010
2009 A Good Year for Toronto Real Estate
Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.
“After a slow start to the year, existing home sales rebounded during the second half of 2009,”
said TREB President Tom Lebour. “As consumer confidence improved, many households
moved to take advantage of affordable home ownership opportunities in the GTA. The strong
residential real estate sector was a key contributor to overall economic recovery in Canada.”
The average home price in 2009 climbed four per cent to $395,460. The average price for
December transactions was $411,931.
“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”
“After a slow start to the year, existing home sales rebounded during the second half of 2009,”
said TREB President Tom Lebour. “As consumer confidence improved, many households
moved to take advantage of affordable home ownership opportunities in the GTA. The strong
residential real estate sector was a key contributor to overall economic recovery in Canada.”
The average home price in 2009 climbed four per cent to $395,460. The average price for
December transactions was $411,931.
“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”
Wednesday, December 16, 2009
Taking Care of Your Christmas Tree
Once you get your tree home, you will need to do a few things to keep it fresh. With proper care, the average fresh Christmas tree should last at least five to six weeks.
The main thing your tree needs is water. You've probably heard of several home remedies that suggest you add something to the water, such as aspirin, 7UP or Sprite or even bleach! You don't need to do that. Plain water will do just fine.
Once you bring your tree home, if you are not going to set it up immediately, you should put it in a bucket of water in a well-shaded area out of the wind. Most retail locations will put a fresh cut on the tree -- trimming about one-fourth to one-half of an inch (0.64 to 1.25 cm) from the base. It can take as little as four to six hours for the base of the tree to sap over. When this happens, a seal is formed and the tree will no longer take water. If this does happen, you can make another fresh cut and place it in water immediately.
You can trim your tree even after you have put it in a stand. You can cut back some of the bark along the base, exposing the pinkish layer underneath, or you can drill a few shallow holes along the base. This works because it is not the center of the trunk, which absorbs the majority of water, but rather the outermost rings just below the bark. One of the easiest ways to make sure your tree is getting enough water is to select the best tree stand. The average Christmas tree can use as much as 1 gallon (3.79 liters) of water a day, and you should check the water level daily. The general rule of thumb, according to the National Christmas Tree Association, is that one quart (0.95 liters) of water is required for each inch (2.54 cm) of the trunk's diameter. So, if you have a tree that is about 6 feet (1.83 meters) tall with a trunk that measures about 4 inches (10 cm) in diameter, you will need to have a stand that holds at least 1 gallon (3.79 liters) of water.
When shopping for stands, be sure to find out how much water the stand holds when a tree is placed in it. Many simply tell you how much water the stand holds without taking into account the displacement that occurs once the tree is in the stand. The stands shown below are examples of really great stands.
In addition to keeping your tree watered, you should not place your tree near anything that could be a possible heat source. Avoid fireplaces, furnaces and air vents. It's really amazing that something that starts out the height of a quarter turns into a big, beautiful centerpiece for the holiday season. Please remember that when the season is over, you should remove your tree before it dries out. Several communities recycle trees by chipping them -- check with someone in your area about this service.
The main thing your tree needs is water. You've probably heard of several home remedies that suggest you add something to the water, such as aspirin, 7UP or Sprite or even bleach! You don't need to do that. Plain water will do just fine.
Once you bring your tree home, if you are not going to set it up immediately, you should put it in a bucket of water in a well-shaded area out of the wind. Most retail locations will put a fresh cut on the tree -- trimming about one-fourth to one-half of an inch (0.64 to 1.25 cm) from the base. It can take as little as four to six hours for the base of the tree to sap over. When this happens, a seal is formed and the tree will no longer take water. If this does happen, you can make another fresh cut and place it in water immediately.
You can trim your tree even after you have put it in a stand. You can cut back some of the bark along the base, exposing the pinkish layer underneath, or you can drill a few shallow holes along the base. This works because it is not the center of the trunk, which absorbs the majority of water, but rather the outermost rings just below the bark. One of the easiest ways to make sure your tree is getting enough water is to select the best tree stand. The average Christmas tree can use as much as 1 gallon (3.79 liters) of water a day, and you should check the water level daily. The general rule of thumb, according to the National Christmas Tree Association, is that one quart (0.95 liters) of water is required for each inch (2.54 cm) of the trunk's diameter. So, if you have a tree that is about 6 feet (1.83 meters) tall with a trunk that measures about 4 inches (10 cm) in diameter, you will need to have a stand that holds at least 1 gallon (3.79 liters) of water.
When shopping for stands, be sure to find out how much water the stand holds when a tree is placed in it. Many simply tell you how much water the stand holds without taking into account the displacement that occurs once the tree is in the stand. The stands shown below are examples of really great stands.
In addition to keeping your tree watered, you should not place your tree near anything that could be a possible heat source. Avoid fireplaces, furnaces and air vents. It's really amazing that something that starts out the height of a quarter turns into a big, beautiful centerpiece for the holiday season. Please remember that when the season is over, you should remove your tree before it dries out. Several communities recycle trees by chipping them -- check with someone in your area about this service.
Tuesday, December 15, 2009
National picture of the Canadian real estate market
As the Canadian real estate market continues to rebound from a steep decline a year ago brought on by the recession, home buyers remain nervous about the stability of the economy, according to a survey of 1,225 Royal LePage agents and brokers across Canada. However, few buyers think home prices will decline again.
When asked to comment on the most common fears they are hearing from home buyers over the past three months, 38 percent of Royal LePage agents and brokers cited economic stability and related factors such as job security. 23 percent said home buyers fear they may not be able to sell their existing homes at the price they are hoping for, while 12 percent said buyers are hesitant because they believe prices have not yet hit the bottom of the cycle. Twenty percent of agents and brokers said they are not hearing any concerns from buyers.
The Royal LePage Advisor Survey, conducted online in November 2009, also found that an increasing number of Canadians are purchasing homes as investment properties, and almost 50 percent of brokers and agents say the number of buyers intending to renovate their properties after purchase is increasing.
When asked to comment on the most common fears they are hearing from home buyers over the past three months, 38 percent of Royal LePage agents and brokers cited economic stability and related factors such as job security. 23 percent said home buyers fear they may not be able to sell their existing homes at the price they are hoping for, while 12 percent said buyers are hesitant because they believe prices have not yet hit the bottom of the cycle. Twenty percent of agents and brokers said they are not hearing any concerns from buyers.
The Royal LePage Advisor Survey, conducted online in November 2009, also found that an increasing number of Canadians are purchasing homes as investment properties, and almost 50 percent of brokers and agents say the number of buyers intending to renovate their properties after purchase is increasing.
Tuesday, December 8, 2009
Changing Leaside
Lots of changes are happening in Leaside, or could happen depending on what happens at the Ontario Municipal Board. Currenly before the OMB is a proposal to replace the heritage- designated Talbot Apartments on Bayview Avenue with an 8-storey condo tower and condo townhouses.
On Thursdsay Dec. 10 at 6:30, a public meeting will be held at Leaside Library concerning another development site at 85 Laird Drive, part of which is occupied by a heritage rail maintenance facility. The site at one time was going to be used for a car sales facility but that plan went down with the demise of General Motors. First Capital is proposing to a 180,000 retail power centre for the site with 928 surface and below grade parking stalls. The city wants to maintain the area as an employment centre but the days of industry in this former industrial park seem numbered. I would love to see a Liberty Village type of development with loft condos, small offices, and some bars utilizing some of the heritage buildings.
On Thursdsay Dec. 10 at 6:30, a public meeting will be held at Leaside Library concerning another development site at 85 Laird Drive, part of which is occupied by a heritage rail maintenance facility. The site at one time was going to be used for a car sales facility but that plan went down with the demise of General Motors. First Capital is proposing to a 180,000 retail power centre for the site with 928 surface and below grade parking stalls. The city wants to maintain the area as an employment centre but the days of industry in this former industrial park seem numbered. I would love to see a Liberty Village type of development with loft condos, small offices, and some bars utilizing some of the heritage buildings.
Friday, December 4, 2009
Hot Market Continues- More Properties Needed for Buyers
Greater Toronto REALTORS® reported 7,446 sales in November – slightly more than double the November 2008 result when GTA home sales had dipped markedly due to the economic downturn. Year-to-date sales were up 14 per cent compared to the first 11 months of 2008.
“This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006,” said Toronto Real Estate Board President Tom Lebour. Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the Canadian economy out of recession in the third quarter.”
The average price for November transactions was up 14 per cent year-over-year to $418,460. The average price year-to-date was up four per cent to $394,464.
“Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010, because we will be comparing the current recovery to the housing market decline experienced last winter,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “As we move into the spring, growth rates will move to more sustainable levels.”
“This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006,” said Toronto Real Estate Board President Tom Lebour. Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the Canadian economy out of recession in the third quarter.”
The average price for November transactions was up 14 per cent year-over-year to $418,460. The average price year-to-date was up four per cent to $394,464.
“Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010, because we will be comparing the current recovery to the housing market decline experienced last winter,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “As we move into the spring, growth rates will move to more sustainable levels.”
Subscribe to:
Posts (Atom)
