|
UrbanRental News Release: Urbanation launches inaugural Condominium Rental Market Overview
Urbanation Inc., Toronto, May 17th, 2011
Urbanation Inc., the leading source of information and analysis on the Toronto condominium market since 1981, today released its inaugural condominium apartment rental market overview for Q1-2011. READ MORE...
To view Rental Market overview:
UrbanRental Rental Market Overview
TIGHT MARKET RESULTS IN STRONG PRICE GROWTH IN APRIL
TREB Market Watch, Toronto, May 4, 2011
Greater Toronto Realtors reported 9,041 existing home sales through Toronto MLS system in April 2011. This result was down 17 per cent compared to April 2010, when sales spiked to a new record of 10,898. While off last year's record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
"Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities" said Toronto Real Estate Board (TREB) President Bill Johnston.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month -up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by 9 per cent annually to $477,407.
"The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The strong price growth experienced in April should result in more listings and more balanced market conditions". READ MORE
BILD ANNOUNCES NEW HOME SALES STATISTICS
The Toronto Star, April 2011
The 3,434 new homes sales in March of this year represents a healthy... stable level of activity,” said BILD President and CEO, Stephen Dupuis... READ MORE
----------------------------------------------------------------------------------------------------------------
MARCH 2011 NEW HOME SALES
RealNet Canada Inc., Greater Toronto Area, April 21, 2011
by Steven Hurst
It was the 2nd best March that has ever been recorded for high rise (apartment, loft, stacked townhouse) condo sales. 1,980 units were sold in March 2011.
Here's a recent history of monthly sales in the GTA:
RealNet Canada Inc. is the leading real estate information services company in Canada. Founded in 1995, The Company's core information product provides coverage in both the commercial real estate investment and residential development markets, powering the decisions of firms involved in approximately 70% of the market activity.
----------------------------------------------------------------------------------------------------------------
INSIDERS ON INVENTORY SUITES
The National Post, April 2nd 2011
Don't discount leftover units - you might be missing out on a deal! Here are some great inventory suites ready for occupancy. READ MORE...
----------------------------------------------------------------------------------------------------------------
URBAN UPDATE
February 4th, 2011
TFN Realty as one of Top 10 Condominium Apartment Sales Consultants-based on Total Units Represented in Q4-2010
UrbanUpdate is published by Urbanation Inc. For all inquiries about this UrbanUpdate report, market data inquiries and for Urbanation subscription information, please contact Urbanation at 416-922-2200 or via email at
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
.
----------------------------------------------------------------------------------------------------------------
2011 Condominium apartment forecast for the Toronto CMA has been released
Urbanation, February 2011
Urbanation is forecasting 16,000 new condominium sales for 2011 in the Toronto Census Metropolitan Area (CMA). The Toronto CMA will experience record condominium apartment starts and completions in 2010... READ MORE...
----------------------------------------------------------------------------------------------------------------
New Condominium suite sales up 30 percent in 2010
RealNet Canada Inc., Greater Toronto, January 2011
More than 20,000 new condominiums were sold by Greater Toronto Area homebuilders in 2010 as high-rise new home sales leaped 30 per cent over 2009, resulting in the second-best year ever for that product type, the Building Industry and Land Development Association (BILD) revealed today.
According to RealNet Canada Inc., there were 20,349 new high-rise condominium suites sold in 2010, second only to 2007 when an astonishing 22,408 high-rise condominiums were sold. From a market share perspective, high-rise sales did establish a new record, accounting for 55 percent of all new home sales in 2010.
While the high-rise housing market was surging, sales of low-rise (single-detached, semi-detached and townhome) product were slipping by 10 percent. Combining the two product types, total new home sales in 2010 reached 36,803 units, up a smart 8 per cent over 2009 despite a weaker than expected December.
BILD President and CEO Stephen Dupuis attributed the strength of the high-rise housing market in the GTA to its relative affordability (compared with low-rise), changing demographics and, to some degree, consumer preference, superlative locations, great building designs and a very high level of standard finishes ("jewel boxes" as one condo builder put it).
"Within the last decade, the share of the GTA housing market captured by high-rise condo developers has steadily risen from one quarter, which was considered normal, to a third, which was called the new normal, to more than 40 percent (we called The Year of the Condo), to the point today where more than half (55 per cent in 2010) of all new home sales annually are high-rise condos," Dupuis stated.
"By historical standards, 2010 was a good, not a great year, however the fact that the market exceeded all forecasts means that the industry was able to contribute its fair share, if not more, to economic growth, job creation and the tax coffers at all levels of government."
With more than 1,350 members, BILD formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario, and is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders' Association.
----------------------------------------------------------------------------------------------------------------
New Mortgage Regulations Announced
Financial Post, January 17th 2011
This morning, Finance Minister Jim Flaherty has announced new mortgage regulations aimed at reducing Canadians' soaring household debt.
Flaherty has unveiled three new rules:
(1) Mortgage amortization periods will be reduced to 30 years from 35 years.
(2) The maximum amount Canadians can borrow to refinance their mortgages will be lowered to 85 per cent from 90 per cent.
(3) The government will withdraw its insurance backing on lines of credit secured on homes, such as home equity lines of credit. READ MORE...
----------------------------------------------------------------------------------------------------------------
Hush Wins Province Wide Project Of The Year Award
Mississauga News, September 2010
Hush is honoured to announce they are the recipients of the Project of the Year Award for Avalon and The Gardens at Coronation.
Accepting the Ontario Home Builders Association (OHBA) award for Project of the year are: Dan Flomen, Debbie Cosic, Julie Vander Herberg, Naheel Suleman, Erin Ackerman. READ MORE...
-----------------------------------------------------------------------------------------------------------------
Mississauga's Newest Trend
Mississauga News, September 2010
Over the past twenty years, Mississauga has seen a growth unlike most other major centers throughout Canada.
"I remember selling some of Old Meadowvales first new homes in 1997 for another builder", said Dan Flomen, president of TFN Realty. READ MORE...
-----------------------------------------------------------------------------------------------------------------
Project geared towards affordable ownership
The Toronto Star, June 26 2010
Byline: Diane Tierney, Special to the Star
Full Text: Sell Off Condos in Etobicoke makes condo buying easy because these suites are affordable and the down payment program is manageable. Phase 2 offers bachelor suites starting at $169,900, which means the mortgage, taxes and monthly fees could be less expensive than renting.
The suites range from 440 to 950 square feet for bachelor, one- and two-bedroom plans, some with dens. The first tower is more than 90 per cent sold out and the second tower of 25 storeys has about 240 suites.
"Even the down payment structure is affordable" says Dan Flomen of TFN Realty, co-brokers with In2ition Realty who are selling the suites. "We only need about a 15 per cent deposit spread over a long period of time. You put down $2,000 with the offer, five per cent in 30 days, five per cent in 180 days and five per cent when construction starts."
The suites feature standard materials such as laminate kitchen and bathroom counters, but you can upgrade with granite and other features if you want.
The building amenities are in the podium or colonnade between the two buildings. There's an indoor pool with outdoor sundeck, steam rooms, saunas, fitness centre, and yoga rooms.
If you want to entertain friends and family, there is the party room with an outdoor terrace, barbecue area, dining or meeting room, as well as two guest suites. Parents will love the indoor KidZone play area, plus the landscaped grounds include a walking and jogging path that encircles the community. "Condo fees are about 47 cents per square foot which include gas, water, building insurance, and common elements maintenance. Hydro is extra," says Flomen.
Parks, schools, daycare and shopping are nearby and it's about a 15-minute drive to downtown Toronto. There's a TTC bus stop at the doorstep that takes commuters to the subway lines.
You can walk to Broadacres Park with its children's play areas and planned new daycare centre or to Centennial Park and its Olympic-sized swimming pool. Place of worship, small cafes, and specialty stores are also nearby.
Phase 1 buyers will be moving in 2012 and Phase 2 is expected to be ready by the fall of 2013.
The sales office is at 2 Holiday Dr. (near Burnhamthorpe Rd. and the West Mall), Etobicoke. Hours are Mondays to Thursdays 1 to 7 p.m. and weekends and holidays noon to 5 p.m. Closed Fridays. Call 416-701-9393 or visit selloffcondos.com.
2010 Toronto Star. All rights reserved.
CAPTION(S): Sell Off Condos offers a structured down payment scheme.
Source Citation "Project geared to affordable ownership." Toronto Star [Toronto, Ontario] 26 June 2010: H10. CPI.Q (Canadian Periodicals). Web. 15 Dec.2010.
-----------------------------------------------------------------------------------------------------------------
April Experiences Record Number of Buyers and Sellers
TREB, May 2010
Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Services ® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries. READ MORE...
-------------------------------------------------------------------------------------------------------------------
Housing Market Charts for April 2010
TREB, May 2010
A series of charts summarizing key residential statistics for the GTA
To view charts:
Toronto Housing Market Charts
-------------------------------------------------------------------------------------------------------------------
Rental Market Report Jan-April 2010
May 19, 2010
In the January through April 2010 period, TREB members reported 4,028 leased condominium apartments, representing a 2 per cent increase over the 3,945 units leased during the same period in 2009. READ MORE...
-------------------------------------------------------------------------------------------------------------------
Checking the "Same as Rent" claims.
Globe & Mail, September 2009
The current recession seems to have brought at least one benefit to Toronto's new condominium market.
You can indeed now buy a suite in some projects and carry it - mortgage, taxes and maintenance included - for the same or slightly more than rent for comparable accomodation. READ MORE ...
-------------------------------------------------------------------------------------------------------------------
Bank of Canada Overnight Rate Target Announcement
Bank of Canada, September, 2009
The Bank of Canada has announced that its target for the overnight rate will remain at 0.25 per cent and has further reiterated its commitment to hold the overnight rate at this level until the end of the second quarter of 2010. READ MORE...
|
