Welcome to the Fall 2018 Breakfast Seminar

Save this PDF as:

Size: px
Start display at page:

Download "Welcome to the Fall 2018 Breakfast Seminar"

Transcription

1 Welcome to the Fall 2018 Breakfast Seminar Richmond Hill Country Club June 7, 2017 Presented by: MCAP Development Finance Group

2 AGENDA GTA Condo Market Outlook Presented by: Shaun Hildebrand, President, Urbanation MCAP High-Rise Condominium Land Value Report Presented by: David McCrossan, Director, Development Finance Group MCAP Lot Value Report Presented by: Bruno Iacovetta, Managing Director, Development Finance Group Richmond Hill Country Club December 6,

3 GTA Condo Market Outlook MCAP Breakfast Seminar December 6, 2018

4 Headlines Shape Confidence February 2018 We just got the first real picture of the Toronto housing market and its ugly --Bloomberg News July 2018 June home sales slightly higher in the GTA --The Canadian Press November 2018 Toronto s homes sales climb in October and new listings fall --Globe and Mail

5 GTA Condo Market Key Facts 150,000 Condos Sold in Past 3 Years Condo Prices Up 50% in 3 Years Avg. Downtown Price > $1,000 PSF $100,000+ Income to buy Avg. Unit Avg. Condo Rent = $2, ,000 New Condos in Development Condo Vacancy Rate = 0.7%

6 Condo Rental Supply & Vacancy Rates Net Increase in Condo Rentals , , ,410 Share of Condo Stock Used as Rental Greater Toronto Area: 2007 to 2018 Average Condominium Vacancy Rates Greater Toronto Area: 2007 to % 32.6% 33.1% 32.7% 30.0% 1.6% 1.8% 1.8% 25.0% 20.0% 18.5% 0.7% 0.8% 1.1% 1.2% 1.3% 1.0% 0.7% 0.7% 15.0% 0.4% 10.0% Source: CMHC Source: Urbanation, CMHC

7 Downtown Toronto Stats Downtown Population = 870,000 Growth of 10,000 pp/year from 2011 to 2016 Downtown Toronto Employment = 565,000 5-year Avg. Job Growth = 20,000/yr

8 Back to Basics: Toronto Job Market GDP Growth Toronto...3.5% Ontario...2.1% Canada...1.8% Incomes growing in line with housing prices Annual Employment Growth Toronto CMA: 2002 to 2018* Unemployment and Wage Growth Toronto CMA 160, , , ,000 80,000 60,000 40,000 20, ,000-40,000-60,000 annual avg. = 50,000 jobs 75,000 75, % 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% Unemployment Rate (left axis) Wage Growth (right axis)* 3.2% 6.3% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% -0.5% *YTD Sep-2018 Source: Urbanation, Statistics Canada *Wage growth estimates f or Ontario, 3-month mov ing av erage Source: Urbanation, Statistics Canada 58,000 added in City of Toronto (+3.9%) 72% in full-time work, 50% in office jobs Avg. HH Income in Downtown Toronto as of 2015 = $118,000 ~$125K today

9 Downtown Office Space 14.0% 12.0% Downtown Toronto Office Vacancy Rate Q to Q Downtown Toronto Office Space (SF) Completions 8,991, % 8.0% 6.0% 4.0% 4,504,126 5,865, % 0.0% 2.3% Source: Cushman & Wakefield Source: Cushman & Wakefield

10 Downtown Office Development Source: architectsalliance, City of Toronto

11 Population Inflows National Immigration Targets , , , , ,000 Toronto is Canada s #1 destination for international migrants 120, ,000 Annual Population Growth & Net Migration Toronto CMA: 2002 to 2017 Net Migration Total Population Growth Annual avg. net migration = 77, ,090 97,667 73,841 Components of Net Migration Toronto CMA: ,131 80,000 13,450 60,000 40,000 20,000 0 Source: Urbanation, Statistics Canada Net International migration Net interprovincial migration -36,755 Net intraprovincial migration Net non-permanent residents Requires an extra 8-10K housing units 82% of Net Migrants between 15 and Population 50,000 persons

12 Supply vs. Demographic Growth Total Annual Housing Completions Toronto CMA: 2002 to 2017 Net Migration vs. Completions & Price Growth Toronto CMA: ,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Apartment Share Detached Share Source: Urbanation, CMHC 70% 60% 50% 40% 30% 20% 10% 0% Ratio of Completions to Net Migration (Units per 100 persons) Avg. Annual Resale Price Growth 9.4% % 6.9% Source: Urbanation, TREB, CMHC 17.3% % 17.0% 15.0% 13.0% 11.0% 9.0% 7.0% 5.0% 3.0% Underbuilding by at least 10K units

13 * GTA Ownership Affordability Measure 55% 50% 45% 40% 35% 30% 25% 20% 15% 10% Mortgage Payment on Average Priced Hom e as % Household Income Greater Toronto Area: 1990 to 2018* 50% Standard Max Lending GDS Ratio = 35% 23% 28% 34% 44% for detached 24% for condos *Based on 80% LTV, 5-y ear discounted mortgage rates and 25-y ear amortization Source: TREB, Bank of Canada, Urbanation Inc.

14 Detached vs. Condo Prices Average Resale Prices, Detached and Condo, 12-mth rolling avg. Greater Toronto Area: Jan-08 to Oct-18 Average Resale Price Gap, Detached and Condo, 12-mth rolling avg. Greater Toronto Area: Jan-08 to Sep-18 $1,200,000 $1,000,000 $800,000 $600,000 $474,070 $400,000 Detached Avg. Condo Apt. Avg. 133% 91% $1,103,206 $1,010,101 $502,010 $545,481 $700,000 $600,000 $500,000 $400,000 $300,000 $210,515 $200,000 Price Differential Linear trend Apr-2016 $616,328 $550,000 $464,620 $200,000 $263,259 $100,000 $0 $0 Source: Urbanation, TREB Source: Urbanation, TREB

15 Condo Share of Total TREB Sales Condo Apartment Share of Total Resales, 12-mth rolling total Greater Toronto Area: Jan-08 to Oct-18 33% 31% 29% 27% 25% 23% 21% 19% 17% 15% 22.6% 22.6% 30.3% 29.5% 55% Condo Share in City of Toronto 45% Condo Share of GTA Homes <$700,000 Source: Urbanation, TREB

16 Condo Resale Activity by Price Range Change in Resale Condo Apartment Sales by Price Range GTA: YTD 2018 vs. YTD 2016 Under $400K -70% $ K 35% $ K 92% $ K 140% $1-1.9M+ 69% $2M+ 46% Source: Urbanation, TREB

17 Condo vs. Detached Sales & Price Growth Year-over-Year Change in TREB Sales: Detached vs. Condo Apartment Greater Toronto Area: Oct-2013 to Oct-2018 Year-over-Year Change in Avg. Price: Detached vs. Condo Apartment Greater Toronto Area: Oct-2013 to Oct % 30% 20% 40% 30% Detached Condo Apt 10% 0% -10% -20% -30% Detached Condo Apt 20% 10% 0% -40% -50% -60% -10% -20% Source: Urbanation, TREB Source: Urbanation, TREB Condo>Detached for 37 months Detached>Condo for 5 months Detached>Condo for 62 months Condo>Detached for 19 months

18 Condo vs. Detached Resale Supply 18,000 16,000 Active TREB Listings: Detached vs. Condo Apartment GTA: 1998 to 2018, Oct periods 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Highest in 10 years Lowest in 16 years = 3.4 months of supply = 1.7 months of supply

19 Condo Resale Activity Trend 35,000 30,000 start of recession Condo TREB Resale Activity GTA: 12-m onth totals to Oct-18 removal of 35-yr. am. removal of 30-yr. am Fair Housing Plan 31,186 B-20 26,000 25,000 20,000 trendline 23,538 Stabilizing for 6 months 15,000 10,000 Source: Urbanation, TREB

20 Condo Resale Trend vs. Interest Rates Resale Condominium Activity and Borrowing Costs Greater Toronto Area: Q1-05 to Q % 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 5-Year Government of Canada Bond Yield (%) Resale Condo Activity: 4-Quarter Total 30,000 25,000 20,000 15,000 10,000 5,000 Source: Urbanation Inc., TREB/MLS, Statistics Canada

21 Resale Condo Sales-to-Listings Ratio 80% Ratio of Condo Apartment Resales to Listings, 4-quarter m oving average Greater Toronto Area: Q to Q % 60% 50% 40% 66% Balanced Market 30% 20% *4 quarters to Q Source: Urbanation, TREB

22 Annual Growth in Resale Condo Prices PSF Annual Growth in Resale Condo Apartment Prices Per SF Greater Toronto Area: Q to Q % 30.0% 30.5% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Avg. = 7.8% 6.5% -5.0% -1.6% Source: Urbanation Inc.

23 Condo Resale Price Growth by Unit Type Year-over-Year Price Growth by Unit Type Greater Toronto Area: Q vs. Q Studio 16.8% 1B 1B+Den 10.9% 10.3% Average Resale Condo Prices by Unit Type GTA: Q $927,000 2B 7.5% $631,000 $716,000 2B+Den 2.6% $393,000 $466,000 $513,000 3B+ 3.3% Source: Urbanation, TREB/MLS Studio 1 Bed 1 Bed+Den 2 Bed 2 Bed+Den 3 Bed Source: Urbanation, TREB/MLS

24 Resale Price PSF Growth by Area Annual Change in Average Resale Condo Price PSF Regional Municipalities: Q vs. Q Former TO 12.5% Etobicoke Scarborough 9.2% 8.8% Peel Region Durham Region 7.7% 7.7% $926 Average Resale Condo Prices PSF Regional Municipalities: Q North York 4.8% $620 $469 $506 $447 $671 $528 Halton Region 2.7% York Region 1.1% Source: Urbanation, TREB/MLS Source: Urbanation, TREB/MLS

25 Resale Price PSF Growth by Submarket Annual Change in Average Resale Condo Price PSF Submarkets with at least 100 sales in Q3-18 Downtown East CityPlace Downtown West Entertainment District North Midtown Mississauga City Centre Downtown Core Etobicoke Centre Liberty Village Harbourfront East Bloor/The Village Scarborough City Centre Scarborough North Etobicoke Waterfront Mississauga North Source: Urbanation, TREB/MLS 12.9% 12.4% 11.6% 11.5% 10.0% 9.5% 9.4% 9.3% 8.0% 7.7% 7.1% 16.6% 15.7% 15.4% 15.4% $1,058 $885 $890$898 $866 Average Resale Condo Prices PSF Regional Municipalities: Q $562 $989 $593 $849 $888$897 $543 $430 $717 $481 Source: Urbanation, TREB/MLS

26 Quarterly New Condo Sales & Launches Quarterly New Condo Apartment Sales and New Launches Greater Toronto Area: Q to Q ,000 12,000 10,000 Sales Launches 8,000 6,000 4,000 2, ,738 +4% y/y Source: Urbanation Inc. New Supply > Demand Demand > Supply Demand = Supply

27 Annual New Condo Sales Annual New Condo Apartment Sales Greater Toronto Area: 2007 to 2018* 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Avg. 20,435 26,893 35,074 22, * *12 months to September 2018 Source: Urbanation Inc., TREB/MLS

28 Quarterly New Launch Absorption Rates 90% 80% 70% 60% 50% 40% 30% New Project Launch Absorption Rate Greater Toronto Area: Q1-08 to Q yr avg. = 53% 58% Large scale projects, high investor share Increased share of mid-rise projects + end-user buyers ***Opening quarter absorption rate above 55% for 11 straight quarters 20% 10% 0% Source: Urbanation Inc.

29 Total % Sold in Development 95% 90% Total Level of Absorption for New Condo Projects in Development Greater Toronto Area: Q to Q % Preconstruction Under construction Units % Sold 31,333 80% 67,581 95% 85% 80% Avg. = 79% Recently completed 21,748 99% 75% 70% 65% 60% Source: Urbanation, TREB

30 New Condo Unsold Inventory New Condo Apartment Unsold Inventory in Development Greater Toronto Area: Q to Q ,000 22,500 20,000 17,500 15,000 12,500 Avg. = 14,700 20,981 Preconstruction Unsold Units 6,380 10,000 7,500 5,000 2, ,160 9,927 Under construction Recently completed 3, Source: Urbanation Inc.

31 New Condo Months of Supply 25 Months of Supply of New Condo Inventory Greater Toronto Area: Q1-08 to Q yr avg. = 10.8 months Source: Urbanation Inc.

32 New Condo Price Growth vs. Construction Costs Annual Change in New Condo Prices and Construction Costs Greater Toronto Area: Q1-05 to Q3-18 Avg. Sold Index Price =$745 psf (Q3-18) 20.0% 15.0% 10.0% 5.0% Avg. Sold Price Index for New Condos High-rise Apartment Building Construction Price Index Avg. Sold Index Price =$595 psf (Q3-16) 11.2% 7.2% Represents less than 4% of total active units 0.0% New Condo Project Cancellations by Total units Greater Toronto Area : 2012 to % 4,077 Source: Urbanation Inc., Statistics Canada 1,402 1, YTD 2018 Source: Urbanation Inc.

33 New Condo Launch Price vs. Resale Price PSF Average Opening Prices for New Launches vs. Average Resale Prices Greater Toronto Area: Q1-15 to Q3-18 $1,100 $1,000 $900 $800 $700 New Launch Avg. Opening Price PSF Avg. Resale Price PSF New Launch Price Trendline $150 $1,044 $250 $690 $600 $500 $400 Source: Urbanation Inc., TREB

34 New Condo Launch Price vs. Resale Price PSF New Launch vs. New Resale Prices GTA: Q3-08 to Q3-18 Difference: New Launch vs. New Resale Prices GTA: Q3-08 to Q3-18 $1,000 $900 $800 $700 New Launch Prices - 4 Qtr Avg. New Resale Yr. Old Builds $763 $688 $930 $807 $150 $100 $50 Median = $53 $123 $600 $0 $500 $400 -$50 $300 -$100 -$75 Source: Urbanation, TREB/MLS

35 New Condo Market Activity by Area New Condo Apartment Sales by Area GTA: Q108 to Q3-18, 4-Quarter Totals Average New Condo Unsold Price PSF by Area GTA: Q1-09 to Q ,000 14,000 12,000 10,000 8,000 6,000 4,000 Former TO Outer ,179 6,532 5,182 $1,300 $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 Former TO Outer $170 $1,196 $849 $706 $347 $143 2,000 $400 0 $300 Source: Urbanation Source: Urbanation

36 New Condo Inventory by Submarket Top Submarkets by Available Inventory GTA: Q Unsold Units (L) Unsold Price PSF (R) $2,100 $1,900 $1,700 $1,500 $1,300 $1,100 $900 $700 $500 Source: Urbanation

37 Unit Mix & Opening Absorption by Unit Type Other Unit Mix of New Condo Project Launches GTA: 2014 to YTD 2018 New Condo Opening Quarter Absorption by Unit Type GTA: Q4-14 to Q3-18, 4-quarter moving average 3B 2B 3.5% 3.2% 3.3% 6.4% 6.7% 37.7% 33.4% 41.0% 43.4% 39.5% 100% 90% 80% 70% 60% Studio 1B 2B 3B 86% 73% 61% 1B 51.3% 56.4% 49.8% 47.3% 48.9% 50% 40% 30% 41% Studio 5.9% 5.1% 3.1% 1.3% 2.3% 20% YTD 2018 Source: Urbanation Source: Urbanation

38 Average New Condo Launch Size & Price: 416 Median Price City of Toronto: Nov-18 Detached.. $1,000,000 Semi...$905,000 Row/Town.$902,000 Average Unit Size (sf) of New Condo Units Launched City of Toronto: 2014 to YTD 2018 Average Unit Size (sf) of New Condo Units Launched City of Toronto: 2014 to YTD $733, $633, $463, $402,129 $393, YTD 2018 Source: Urbanation YTD 2018 Source: Urbanation

39 New Condo Development by Building Height Number of Projects Launched by Building Height GTA: 2014 to YTD 2018 Number of Projects Launched by Building Height (Storeys) GTA: 2014 to YTD , ,932 17,115 19,288 Less than Source: Urbanation Inc. Less than Source: Urbanation Inc.

40 Condo Rents and Lease Activity by Unit Type Average Condominium Rents by Unit Type Greater Toronto Area: Q Annual Change in Condominium Lease Transactions Greater Toronto Area: Q $2,720 $3,021 $3,691 Studio 1B 12% 32% $1,823 $2,056 $2,205 1B + Den 10% 2B -3% 2B + Den -8% Studio 1B 1B + Den 2B 2B + Den 3B+ 3B+ -10% Source: Urbanation, TREB/MLS Source: Urbanation, TREB/MLS

41 Condo Rents PSF & Annual Growth $3.40 $3.20 $3.00 $2.80 $2.60 $2.40 $2.20 $2.00 Average Condo Rent Per SF and Y/Y Growth Greater Toronto Area: Q1-12 to Q3-18 Annual % Change (right) Average Rent PSF (left) 20.0% $ % 16.0% 14.0% 12.0% 9.4% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Source: Urbanation, TREB

42 Cost of Owning vs. Renting Average Condo Rental vs Ownership Costs 700 SF Unit, GTA: Q3-14 to Q3-18 $2,800 $2,600 $2,400 $2,200 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 Average Rent Mortgage + Condo Fees + Property Taxes $69 $299 $372 $2,282 Q3-14 Q3-15 Q3-16 Q3-17 Q3-18 $2,654 *Fixed unit size of 700 sf. Assumes 20% down payment, 25-year amortization and discounted 5-year rates. Source: Urbanation, TREB

43 Required Break-Even Rents Newly Completed Buildings = $3.50 psf $3.18 Break-Even Rents* for Condo Investors by Delivery Year GTA: % Required Rent Growth $5.32 $3.58 $3.75 $ *Assumes 20% down, 4% interest rate 2019+, 25-y r. amortization, includes condo f ees and taxes Source: Urbanation

44 Apartment Construction Levels 80,000 70,000 60,000 50,000 Condo and Purpose-built Apartments Under Construction Greater Toronto Area: Q to Q Condo Purpose-built Rental 67,581 Completions Avg. Condo 20,000 Condo Rental...10,000 Purpose-built..3,000 Rental Supply Growth 13,000 Rental Demand...20,000 Supply Deficit.7,000 40,000 30,000 20,000 10,000 11,172 0 Source: Urbanation, CMHC

45 Condo Completions Trend New Condominium Apartment Completions Greater Toronto Area: Q4-05 to Q m onth rolling totals 35,000 30,000 30,734 25,000 20,000 21,816 15,000 10,000 11,701 5,000 0 Source: Urbanation Inc.

46 New Condo Resale and Rental Turnover Condo Turnover in First 12 Months Post Registration GTA: 2011 to 2018, 12 months to Q3 % Rented 32.6% 36.1% 34.7% % Resold 19.1% 24.9% 24.9% 29.0% 12.6% 8.0% 8.1% 4.3% 3.1% 2.5% 4.2% 4.5% 2.8% Source: Urbanation, TREB/MLS

47 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

48 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

49 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

50 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

51 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

52 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

53 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

54 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

55 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

56 History of Rental Development: Toronto CMA Source: architectsalliance, CMHC

57 New Purpose-built Vacancy & Availability Availability and Vacancy in Purpose-built Stock Constructed Since 2005 GTA: Q3-15 to Q % 2.1% 1.9% 1.7% 1.7% 1.6% 1.9% 1.1% Availability Rate Vacancy Rate 1.7% 0.9% 0.9% 1.4% 1.5% Avg. Rent for Units Built = $3.09 psf Avg. Rent for Units Completed in 2018 = $3.76 psf 0.6% 1.0% 0.5% 0.6% 0.6% 0.6% 0.5% 0.1% 0.2% 0.2% 0.4% 0.3% 0.5% Source: Urbanation

58 Purpose-built Rental Supply Pipeline 31,552 in City of Toronto 4-Quarter Inflow of New Proposed Rentals Greater Toronto Area: Q4-15 to Q3-18 Total Inventory of Proposed Puprose-built Rentals Greater Toronto Area: Q4-15 to Q ,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Rent Control Announcement 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 10,513 Rent Control Announcement 30,440 39,750 Source: Urbanation Source: Urbanation

59 Summary of Key Points Strong fundamentals and relative affordability are supporting GTA condominium demand Elevated prices, higher rates, and tighter credit will create headwinds Expect gradual movement back to long-term trend level of ~26K sales under stable economic conditions Low supply will continue to push prices and rents higher in the short-term Record completions and higher inventories starting in second half of 2019 will begin to restrain price and rent growth Risk that new condo prices could overshoot in near-term, could see more investor selling in post 2021 period More rental supply on the way, but will remain insufficient to meet demand

60 MCAP High-Rise Condominium Land Values For the period ending December 6, 2018 *Values based on gross buildable square feet **Values based on fully zoned and approved Richmond Hill Country Club June 7, 2017

61 Land Value Analysis Process Overview Land transactions are not assessed individually given their diverse nature This report serves as a forward looking estimate of land values in the short term for approved land Information from RealNet, Urbanation, Altus, and MCAP employed to undertake an extensive residual analysis process with the following considerations: Projects are assessed and rated by target market / grade of product relative to their submarket peers Sales / listing prices Unit sizes HST costs Building efficiency ratios Hard construction costs Soft costs Typical high-rise condominium builder profit assumptions Richmond Hill Country Club December 6,

62 New Home Price Index Richmond Hill Country Club December 6,

63 Price by Product Type Richmond Hill Country Club December 6,

64 GTA High-Rise Land Overview 2018 YTD HR sales down 44% from record 2017 but consistent with High-Rise inventory still low (~11,000 units now v. ~17,000 on avg. before 2016) Only 272 units standing inventory # months condo supply at ~5.75 months across GTA 15% price appreciation in new units year over year, though growth moderating Very strong rental market continues to easily absorb condo supply (416 condo vacancy of <1% & average 416 condo rent of $3.77 psf) Construction (hard costs) & Development (DCs, interest) costs are up too with end unit values moderating LR prices moderating with HR prices having caught up Interest rates & mortgage approvals create headwinds to further HR price growth, though supply is low and rental demand is strong assume all largely offset Richmond Hill Country Club December 6,

65 Downtown West $1,230/SF Average Unit Price $909,602 Average Sale Price ~7.0 Months Supply of Inventory Downtown West $180.0 $160.0 $140.0 $120.0 $100.0 $80.0 $60.0 $40.0 $20.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $120/SF Median Land Value for High End = $210/SF MCAP Land Value Range for the Submarket = $160 to $170 / SF Richmond Hill Country Club December 6,

66 Downtown East $983/SF Average Unit Price $845,350 Average Sale Price ~2.3 Months Supply of Inventory Downtown East $180.0 $160.0 $140.0 $120.0 $100.0 $80.0 $60.0 $40.0 $20.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $120/SF Median Land Value for High End = $210/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF MCAP Land Value Range for the Submarket = $150 to $160/ SF Richmond Hill Country Club December 6,

67 Downtown Core $1,351/SF Average Unit Price $1,314,306 Average Sale Price ~0.9 Months Supply of Inventory Downtown Core $250.0 $200.0 $150.0 $100.0 $50.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $170/SF Median Land Value for High End = $260/SF MCAP Land Value Range for the Submarket = $215 to $225 / SF Richmond Hill Country Club December 6,

68 Toronto West $949/SF Average Unit Price $761,875 Average Sale Price ~15.5 Months Supply of Inventory Toronto West $100.0 $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $65/SF Median Land Value for High End = $140/SF MCAP Land Value Range for the Submarket = $90 to $100 / SF Richmond Hill Country Club December 6,

69 Toronto East $889/SF Average Unit Price $837,501 Average Sale Price ~2.9 Months Supply of Inventory Toronto East $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $- Spring 2012 $/SF Fall 2012 $/SF Spring 2013 $/SF Fall 2013 $/SF Spring 2014 $/SF Fall 2014 $/SF Spring 2015 $/SF Fall 2015 $/SF Spring 2016 $/SF Fall 2016 $/SF Spring 2017 $/SF Fall 2017 $/SF Spring 2018 $/SF Fall 2018 $/SF Median Land Value for Low End = $60/SF Median Land Value for High End = $130/SF MCAP Land Value Range for the Submarket = $80 to $90 / SF Richmond Hill Country Club December 6,

70 Bloor / Yorkville $2,089/SF Average Unit Price $3,797,257 Average Sale Price ~11.6 Months Supply of Inventory Bloor Yorkville $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $170/SF Median Land Value for High End = $320/SF MCAP Land Value Range for the Submarket = $240 to $250 / SF Richmond Hill Country Club December 6,

71 North Toronto $1,111/SF Average Unit Price $988,772 Average Sale Price ~7.8 Months Supply of Inventory North Toronto $180.0 $160.0 $140.0 $120.0 $100.0 $80.0 $60.0 $40.0 $20.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $130/SF Median Land Value for High End = $220/SF MCAP Land Value Range for the Submarket = $160 to $170 / SF Richmond Hill Country Club December 6,

72 North Yonge Corridor $911/SF Average Unit Price $692,590 Average Sale Price ~3.3 Months Supply of Inventory North Yonge Corridor $100.0 $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $70/SF Median Land Value for High End = $115/SF MCAP Land Value Range for the Submarket = $85 to $90 / SF Richmond Hill Country Club December 6,

73 HWY 7 / Yonge Corridor $652/SF Average Unit Price $599,893 Average Sale Price ~2.4 Months Supply of Inventory HWY 7 / Yonge Corridor $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $- Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF Median Land Value for Low End = $45/SF Median Land Value for High End = $65/SF Spring Fall $/SF $/SF Spring Fall $/SF $/SF MCAP Land Value Range for the Submarket = $60 to $65 / SF Richmond Hill Country Club December 6,

74 Vaughan $749/SF Average Unit Price $726,972 Average Sale Price ~9.0 Month Supply of Inventory $70.0 Vaughan $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $- Spring 2014 $/SF Fall 2014 $/SF Spring 2015 $/SF Fall 2015 $/SF Spring 2016 $/SF Fall 2016 $/SF Spring 2017 $/SF Fall 2017 $/SF Spring 2018 $/SF Fall 2018 $/SF Median Land Value for Low End = $45/SF Median Land Value for High End = $80/SF MCAP Land Value Range for the Submarket = $55 to $65 / SF Richmond Hill Country Club December 6,

75 Richmond Hill Country Club June 7, 2017

76 MCAP Lot Values For the period ending December 6, 2018 *Values based on standard builder financing terms **Values include all levies Richmond Hill Country Club June 7, 2017

77 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Sep 2018 GTA Total Low-Rise Inventory 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 16,500 Units 13.5 Mths. 1,878 Units 1.3 Mths. 5,132 Units 16.2 Mths Remaining Inventory # of Months Supply Richmond Hill Country Club December 6,

78 GTA Low-Rise Demand & Supply 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2, YTD Fall 2018 Annual New Sales Annual New Supply Remaining Inventory Richmond Hill Country Club December 6,

79 York Region Inventory 6,000 5,000 4,000 3,000 2,000 1,812 Units 21 Mths. 1,000 0 Detached Link Semi Detached Townhouse Total Richmond Hill Country Club December 6,

80 Peel Region Inventory 3,500 3,000 2,500 2,000 1,500 1,000 1,272 Units 16 Mths Detached Link Semi Detached Townhouse Total Richmond Hill Country Club December 6,

81 Durham Region Inventory 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, ,575 Units 22 Mths. Detached Link Semi Detached Townhouse Total Richmond Hill Country Club December 6,

82 Halton Region Inventory 1,400 1,200 1, Units 6 Mths Detached Link Semi Detached Townhouse Total Richmond Hill Country Club December 6,

83 Townhouse Lot Values $36,000 $32,000 $28,000 $24,000 $20,000 $16,000 $12,000 $8,000 $4,000 $- York Peel Durham Halton GGH Jun-18 Dec-18 Richmond Hill Country Club December 6,

84 30 F.F. 36 F.F. Detached Lot Values $27,000 $24,000 $21,000 $18,000 $15,000 $12,000 $9,000 $6,000 $3,000 $- York Peel Durham Halton GGH Jun-18 Dec-18 Richmond Hill Country Club December 6,

85 40 F.F. Detached Lot Values $30,000 $27,000 $24,000 $21,000 $18,000 $15,000 $12,000 $9,000 $6,000 $3,000 $- York Peel Durham Halton GGH Jun-18 Dec-18 Richmond Hill Country Club December 6,

86 GTA Average Serviced Lot Values $/FF $19,000 $17,000 $15,000 $13,000 $11,000 $9,000 $7,000 $5,000 $3,000 $14,188 / F.F. $12,344 / F.F. $12,250 / F.F. Townhouse F.F. 40 F.F. Richmond Hill Country Club December 6,

87 Richmond Hill Country Club June 7, 2017

88 Thank you for attending! Richmond Hill Country Club June 7, 2017

MCAP SPRING 2016 BREAKFAST SEMINAR

MCAP SPRING 2016 BREAKFAST SEMINAR Welcome to the MCAP SPRING 2016 BREAKFAST SEMINAR Presented By: MCAP Development Finance Group Richmond Hill Country Club June 2, 2016 AGENDA Overview of the GTA New Housing Market Presented by: Andrew

More information

Ontario Rental Market Study Results: Measuring the Supply Gap / Renovation Investment and the Role of Vacancy Decontrol

Ontario Rental Market Study Results: Measuring the Supply Gap / Renovation Investment and the Role of Vacancy Decontrol Ontario Rental Market Study Results: Measuring the Supply Gap / Renovation Investment and the Role of Vacancy Decontrol AGENDA Measuring the Supply Gap Estimating Current Rental Demand in Ontario Drivers

More information

Growth in Condo Apartment Sales Continues in Q1

Growth in Condo Apartment Sales Continues in Q1 First Quarter 2015 Economic Indicators Real GDP Growth i Q4 2014 t 2.4% Toronto Employment Growth ii March 2015 u 0.4% Toronto Unemployment Rate March 2015 u 7.3% Inflation (Yr./Yr. CPI Growth) ii February

More information

Strong Q4 Condo Apartment Sales and Price Growth

Strong Q4 Condo Apartment Sales and Price Growth Condo Market Report Fourth Quarter 2013 Economic Indicators Real GDP Growth i Q3 2013 t 2.7% Toronto Employment Growth ii December 2013 t 1.7% Toronto Unemployment Rate December 2013 t 8.4% Inflation (Yr./Yr.

More information

Strong Price Growth Continues in Condo Segment

Strong Price Growth Continues in Condo Segment Condo Market Report First Quarter Economic Indicators Real GDP Growth Q4 7.7% Strong Price Growth Continues in Condo Segment TORONTO, ONTARIO, April, President Tim Syrianos announced that the average selling

More information

2013 Fredericton Housing Outlook Seminar Canada Mortgage and Housing Corporation

2013 Fredericton Housing Outlook Seminar Canada Mortgage and Housing Corporation 2013 Fredericton Housing Outlook Seminar Canada Mortgage and Housing Corporation CLAUDE GAUTREAU, Senior Market Analyst, CMHC Housing market intelligence you can count on 2012 Highlights Fredericton CA

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report August 21 Housing Bulletin Monthly Report 1 C a n a da s P r e li m i n a ry H o u s i n g S ta r t s s l i p i n J u ly Preliminary Housing St arts in Albert a* and Canada* July 28 to July 21 25, Canada

More information

Average Condo Price Continues to Climb in Q2 '18

Average Condo Price Continues to Climb in Q2 '18 TREB Member Inquiries: Condo Market Report (4) 443- Media/Public Inquiries: Second Quarter Economic Indicators Real GDP Growth Q.3% Toronto Employment Growth June May Bank of Canada Overnight Rate June

More information

TREB Releases Q Condo Market Statistics

TREB Releases Q Condo Market Statistics Condo Market Report Fourth Quarter 8 Economic Indicators Real GDP Growth Q 8.% Toronto Employment Growth December 8.% Toronto Unemployment Rate December 8 6.% Inflation (Yr./Yr. CPI Growth) December 8.%

More information

Kitchener-Cambridge-Waterloo and Guelph CMAs

Kitchener-Cambridge-Waterloo and Guelph CMAs H o u s i n g M a r k e t I n f o r m a t i o n Housing Now Kitchener-Cambridge-Waterloo and Guelph CMAs C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Kitchener-Cambridge-Waterloo

More information

Rental Transactions Continue to Increase in Q1 2015

Rental Transactions Continue to Increase in Q1 2015 First Quarter 2015 Economic Indicators Real GDP Growth Q3 2014 t 2.4% Toronto Employment Growth ii March 2015 u -0.4% Toronto Unemployment Rate March 2015 u 7.3% Inflation (Yr./Yr. CPI Growth) February

More information

Vancouver market update

Vancouver market update Vancouver market update Robyn adamache Senior market Analyst - Vancouver CMHC Market Analysis BC Region January, 27 BC Housing Market Update Economic Fundamentals New Home Construction Resale Market Economic

More information

MULTIFAMILY MARKET REPORT GREATER TORONTO AREA FALL 2017

MULTIFAMILY MARKET REPORT GREATER TORONTO AREA FALL 2017 MULTIFAMILY MARKET REPORT GREATER TORONTO AREA FALL 2017 Table of Contents 1.0 Demand Indicators 2.0 Economic Snapshot 3.0 Multifamily Housing Market Summary 4.0 Rental Market Summary 5.0 Secondary Rental

More information

Economic Spotlight September 1, 2009

Economic Spotlight September 1, 2009 Economic Spotlight September 1, 29 Update on Alberta s Housing Market Summary Alberta s housing market is beginning to show signs of recovery. Housing starts have rebounded from March lows and activity

More information

New condominium apartment listings were also down on a year-over-year basis by 10 per cent to 9,845 in Q compared to 10,967 in Q

New condominium apartment listings were also down on a year-over-year basis by 10 per cent to 9,845 in Q compared to 10,967 in Q Condo Market Report Third Quarter Economic Indicators Real GDP Growth Q2.5% Condo Market Conditions Remain Tight in Q TORONTO, ONTARIO, October 2, President Tim Syrianos reported continued average price

More information

California Housing Market Update. Monthly Sales and Price Statistics September 2018

California Housing Market Update. Monthly Sales and Price Statistics September 2018 California Housing Market Update Monthly Sales and Price Statistics September 2018 Sales Had the Largest Decline since March 2014 California, September 2018 Sales: 382,550 Units, -3.3% YTD, -12.4% YTY

More information

California Housing Market Update. Monthly Sales and Price Statistics October 2018

California Housing Market Update. Monthly Sales and Price Statistics October 2018 California Housing Market Update Monthly Sales and Price Statistics October 2018 Sales Had the 2 nd Largest Drop in the Last 6 Months California, October 2018 Sales: 397,060 Units, -3.7% YTD, -7.9% YTY

More information

Multi-Residential Market and Investment Trends

Multi-Residential Market and Investment Trends Canadian Apartment Investment Conference I 2017 Multi-Residential Market and Investment Trends CANADIAN APARTMENT INVESTMENT CONFERENCE 2017 Scott Chandler, Colliers International 1 Rental Market Universe

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report February 21 1 Housing Bulletin Monthly Report Housing Starts 25, 2, 15, 1, 5, Alberta Housing Starts up 5 per cent from 29 From February 29 to 21, preliminary housing starts increased 82.7 per cent across

More information

How Does the City Grow?

How Does the City Grow? This bulletin summarizes information from the City of Toronto s Land Use Information System II, providing an overview of the development projects received by the City Planning Division between January

More information

2019 Housing Market Forecast. Palos Verdes Peninsula AOR January 8, 2019 Jordan G. Levine Senior Economist

2019 Housing Market Forecast. Palos Verdes Peninsula AOR January 8, 2019 Jordan G. Levine Senior Economist 2019 Housing Market Forecast Palos Verdes Peninsula AOR January 8, 2019 Jordan G. Levine Senior Economist Overview Good News: Economic fundamentals solid Homeownership still the dream Rates might not go

More information

HOUSING MARKET OUTLOOK

HOUSING MARKET OUTLOOK HOUSING MARKET INFORMATION HOUSING MARKET OUTLOOK Ottawa 1 C A N A D A M O R T G A G E A N D H O U S I N G C O R P O R A T I O N Date Released: Fall 2017 Figure 1 10,000 8,000 6,000 4,000 2,000 0 Ottawa

More information

California Housing Market Update. Monthly Sales and Price Statistics May 2018

California Housing Market Update. Monthly Sales and Price Statistics May 2018 California Housing Market Update Monthly Sales and Price Statistics May 2018 Sales Lost Momentum as Mortgage Rates Continued to Climb California, May 2018 Sales: 409,270 Units, +0.3% YTD, -4.6% YTY 700,000

More information

Visit our Publications and Open Data Catalogue to find our complete inventory of our freely available information products.

Visit our Publications and Open Data Catalogue to find our complete inventory of our freely available information products. Welcome to Mississauga Data This report and other related documents can be found at www.mississauga.ca/data. Mississauga Data is the official City of Mississauga website that contains urban planning related

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report January 21 1 Housing Bulletin Monthly Report Most new homes built in second half of 29 25, 2, 15, 1, 5, Dec 7 Jan 8 Feb 8 mar 8 apr 8 Alberta s 29 housing starts increased 72.8 per cent over 28, suggesting

More information

Rental Transactions and Listed Units Up in Q4 2013

Rental Transactions and Listed Units Up in Q4 2013 Rental Market Report Fourth Quarter 2013 Economic Indicators Real GDP Growth Q3 2013 t 2.7% Toronto Employment Growth ii December 2013 t 1.7% Toronto Unemployment Rate December 2013 t 8.4% Inflation (Yr./Yr.

More information

BOWMANVILLE. East. Gwillimbury. Whitchurch- Stouffville. Markham

BOWMANVILLE. East. Gwillimbury. Whitchurch- Stouffville. Markham Ajax BOWMANVILLE THE DRIVE TO AFFORDABILITY Bradford West Gwillimbury East Gwillimbury Georgina Brock N Caledon Brampton Mississauga King Vaughan Newmarket Aurora Richmond Hill Whitchurch- Stouffville

More information

HOUSING MARKET OUTLOOK

HOUSING MARKET OUTLOOK HOUSING MARKET INFORMATION HOUSING MARKET OUTLOOK Kitchener-Cambridge-Waterloo CMAs C A N A D A M O R T G A G E A N D H O U S I N G C O R P O R A T I O N Date Released: Fall 2017 Figure 1 5,000 4,000 3,000

More information

NEWS RELEASE TREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS

NEWS RELEASE TREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS NEWS RELEASE TREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS TORONTO, ONTARIO, March 5, 2019 Toronto Real Estate Board President Gurcharan (Garry) Bhaura announced that Greater Toronto

More information

Highlights Economic Outlook... 7

Highlights Economic Outlook... 7 Table of Contents Highlights... 5 1. Economic Outlook... 7 Global and United States GDP forecast to accelerate in 2017... 7 Economic Activity in Ontario, the GTA and York Region...9 York Region s Economy

More information

Rental Transactions and Average Rents Up in Q3

Rental Transactions and Average Rents Up in Q3 Third Quarter 2013 Economic Indicators Real GDP Growth Q2 2013 t 1.7% Toronto Employment Growth ii September 2013 t 4.2% Toronto Unemployment Rate September 2013 t 7.9% Inflation (Yr./Yr. CPI Growth) August

More information

California Housing Market Update. Monthly Sales and Price Statistics November 2018

California Housing Market Update. Monthly Sales and Price Statistics November 2018 California Housing Market Update Monthly Sales and Price Statistics November 2018 Home Sales: Largest Decline Since 2014 California, November 2018 Sales: 381,400 Units, -4.6% YTD, -13.4% YTY 700,000 600,000

More information

HOUSING MARKET OUTLOOK Greater Toronto Area

HOUSING MARKET OUTLOOK Greater Toronto Area Housing Market Information HOUSING MARKET OUTLOOK Greater Toronto Area Date Released: Fall 2015 Highlights Total housing starts will edge lower over the next two years Affordability concerns will drive

More information

A Window Into the World of Condo Investors

A Window Into the World of Condo Investors April 06, 2018 A Window Into the World of Condo by Shaun Hildebrand and Benjamin Tal (CIBC*) If you want to understand the GTA housing market, you have to get into the heads of condo investors. While the

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON Office Q1 218 GREATER TORONTO AREA OFFICE Economic Indicators Q1 17 Q1 18 GTA Employment 3.2 mil 3.4 mil GTA Unemployment 7.1% 5.8% Canada Unemployment 6.7% 5.8% Source: Statistics

More information

TOP-TIER REAL ESTATE REPORT 2014 YEAR END REPORT

TOP-TIER REAL ESTATE REPORT 2014 YEAR END REPORT TOP-TIER REAL ESTATE REPORT 2014 YEAR END REPORT TOP-TIER REAL ESTATE REPORT TABLE OF CONTENTS INTRODUCTION 3 NATIONAL SUMMARY 4 VANCOUVER MARKET SUMMARY 7 Overall Market 11 Condominiums 13 Attached Homes

More information

SFR Condo Residential Lot Sales Inventory Sales Inventory Sales Inventory. Month YTD Month Month YTD Month Month YTD Month

SFR Condo Residential Lot Sales Inventory Sales Inventory Sales Inventory. Month YTD Month Month YTD Month Month YTD Month Grand Strand Market Report 2017 capped off a great year for the Grand Strand as full year SFR sales volume and median sales price were up 9.8% and 4.3%, respectively. Condo sales activity increased 3.0%

More information

Doane Rd. 2nd Concession Rd. Good Shepherd Catholic Elementary School. Holland Landing Public School Rogers Reservoir Conservation Area

Doane Rd. 2nd Concession Rd. Good Shepherd Catholic Elementary School. Holland Landing Public School Rogers Reservoir Conservation Area N Holland Landing Prairie Provincial Nature Reserve Holland Landing Conservation Area Doane Rd Leslie St Farmer Jack's Woodbine Ave Hwy 404 Yonge St Christ Church Holland Landing 2nd Concession Rd The

More information

Vancouver, Edmonton and Calgary Rental Market Overview

Vancouver, Edmonton and Calgary Rental Market Overview Vancouver, Edmonton and Calgary Rental Market Overview Christina Butchart, Regional Economist April 2018 Themes 2 Calgary Employment growth has returned Employment, Calgary CMA employed (,000s) 900 850

More information

California Housing Market Update. Monthly Sales and Price Statistics August 2018

California Housing Market Update. Monthly Sales and Price Statistics August 2018 California Housing Market Update Monthly Sales and Price Statistics August 2018 Sales Declined for the 4 th Consecutive Month California, August 2018 Sales: 399,600 Units, -2.1% YTD, -6.6% YTY 700,000

More information

California Housing Market Update. Monthly Sales and Price Statistics December 2018

California Housing Market Update. Monthly Sales and Price Statistics December 2018 California Housing Market Update Monthly Sales and Price Statistics December 2018 Sales Reached the Lowest Level since Jan 2015 California, December 2018 Sales: 372,260 Units, -5.2% YTD, -11.6% YTY 700,000

More information

Durham Region Housing Report

Durham Region Housing Report Follow us for industry news and more! F DRAR54 T @DurhamREnews Durham Region December 2017 Durham REALTORS, We Work Where You Live. Economic Indicators Real GDP Growth 1 Q3 2017 1.7% Inflation (Yr./Yr.

More information

Toronto Economic & Housing Market Outlook 2003

Toronto Economic & Housing Market Outlook 2003 Toronto Economic & Housing Market Outlook 2003 First Line Mortgage Group Presentation June 2003 Toronto Area Real Estate Moving into Balance Ted Tsiakopoulos BA MA Senior Economist Ontario Business Centre

More information

San Francisco Bay Area to Santa Clara & San Benito Counties Housing and Economic Outlook

San Francisco Bay Area to Santa Clara & San Benito Counties Housing and Economic Outlook San Francisco Bay Area to 019 Santa Clara & San Benito Counties Housing and Economic Outlook Bay Area Economic Forecast Summary Presented by Pacific Union International, Inc. and John Burns Real Estate

More information

Durham Region Housing Report

Durham Region Housing Report Follow us for industry news and more! F DRAR54 T @DurhamREnews Durham Region February 2018 Durham REALTORS, We Work Where You Live. Economic Indicators Real GDP Growth 1 Q4 2017 1.7% Inflation (Yr./Yr.

More information

York Region Growth and Development Review

York Region Growth and Development Review York Region Growth and Development Review 2015 1 This page intentionally left blank 2 York Region Growth and Development Review 2015 Table of Contents Highlights... 6 1. Economic Outlook... 8 The Global

More information

HOUSING MARKET OUTLOOK Greater Toronto Area

HOUSING MARKET OUTLOOK Greater Toronto Area H o u s i n g M a r k e t I n f o r m a t i o n HOUSING MARKET OUTLOOK Greater Toronto Area C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Spring 2013 Table of Contents

More information

Monthly Indicators % % - 9.2%

Monthly Indicators % % - 9.2% Monthly Indicators 2016 New Listings were down 1.4 percent for single family/duplex homes and 25.0 percent for townhouse-condo properties. Pending Sales increased 58.3 percent for single family/duplex

More information

Durham Region Housing Report

Durham Region Housing Report Follow us for industry news and more! F DRAR54 T @DurhamREnews Durham Region May 2018 Durham REALTORS, We Work Where You Live. Economic Indicators Real GDP Growth 1 Q1 2018 1.3% Inflation (Yr./Yr. CPI

More information

Pikes Peak area housing Market Statistics (As of: 2/28/2018)

Pikes Peak area housing Market Statistics (As of: 2/28/2018) Jan-1-1 -1-1 Jan-2-2 -2-2 Jan-3-3 -3-3 -4-4 -4-5 -5-5 -6-6 -6-7 -7-7 -8-8 -8-9 -9-9 -1-1 -1-11 -11-11 -12-12 -12-13 -13-13 -14-14 -14-15 -15-15 -16-16 -16-17 -17-17 Jan-1-1 -1-1 Jan-2-2 -2-2 Jan-3-3 -3-3

More information

Monthly Indicators + 4.8% - 3.5% %

Monthly Indicators + 4.8% - 3.5% % Monthly Indicators 2015 New Listings were up 45.0 percent for single family/duplex homes but decreased 44.1 percent for townhouse-condo properties. Pending Sales increased 14.3 percent for single family/duplex

More information

Durham Region Housing Report

Durham Region Housing Report Follow us for industry news and more! F DRAR54 T @DurhamREnews Durham Region June 2017 Durham REALTORS, We Work Where You Live. Economic Indicators Real GDP Growth 1 Q1 2017 3.7% Inflation (Yr./Yr. CPI

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON Office Q4 217 1, 8 6 4 2 Economic Indicators Market Indicators (Overall, All Classes) Overall Net /Overall Asking Rent 4Q TRAILING AVERAGE -2-4 GREATER TORONTO AREA OFFICE Overall

More information

May 2013 April 2013 May 2012 Manhattan Condo Index 2,106 2, % 1, %

May 2013 April 2013 May 2012 Manhattan Condo Index 2,106 2, % 1, % Market Report NOTICE: StreetEasy is pleased to present our 2013 Q2 Quarterly Report on the residential market. This preview version of the report is based on over 1,000 broker sources and will provide

More information

HOUSING MARKET OUTLOOK St. John s CMA

HOUSING MARKET OUTLOOK St. John s CMA H o u s i n g M a r k e t I n f o r m a t i o n HOUSING MARKET OUTLOOK St. John s CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Fall 2014 Highlights New home

More information

TOP-TIER REAL ESTATE REPORT

TOP-TIER REAL ESTATE REPORT TOP-TIER REAL ESTATE REPORT Jan 1 - Jun 30, 2014 Cover property listed by Greg Carros TOP-TIER REAL ESTATE REPORT Table of Contents introduction 3 NATIONAL SUMMARY 4 Vancouver MARKET SUMMARY 7 Overall

More information

Pikes Peak area housing Market Statistics (As of: 9/30/2018)

Pikes Peak area housing Market Statistics (As of: 9/30/2018) $156,25 $184, $174,697 $177,2 $21,53 $185,83 $173, $178,29 $172,25 $212,75 $21,95 $226,692 $197,5 $199, $196, $28, $25, $223,95 $216,75 $29,527 $234,9 $218,82 $229,74 $235,518 $231,457 $255, $259,11 $269,98

More information

Ontario Rental Market Overview & Outlook

Ontario Rental Market Overview & Outlook Ontario Rental Market Overview & Outlook FRPO & GTAA Rental Market Update Breakfast February 2018 Ted Tsiakopoulos Regional Economist, CMHC ttsiakop@cmhc.ca CANADA MORTGAGE AND HOUSING CORPORATION KEY

More information

Housing Market Outlook St. Catharines-Niagara CMA

Housing Market Outlook St. Catharines-Niagara CMA H o u s i n g M a r k e t I n f o r m a t i o n Housing Market Outlook St. Catharines-Niagara CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Fall 2014 Highlights

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report October 21 1 Housing Bulletin Monthly Report Housing Starts show Slight improvement in September CANADA Housing Starts 2, 15, 1, 5, Sep 8 Oct 8 Nov 8 Dec 8 Preliminary Housing Starts in Alberta and Canada

More information

HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs

HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs Housing Market Information HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs Date Released: Fall 2010 Vancouver Highlights MLS 1 sales will remain stable until mid-2011, due to steady population growth

More information

ECONOMIC CURRENTS. Vol. 3, Issue 1. THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction

ECONOMIC CURRENTS. Vol. 3, Issue 1. THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction Economic Currents provides an overview of the South Florida regional economy. The report contains current employment, economic and real

More information

Aug. Aug 2018 ust 2018

Aug. Aug 2018 ust 2018 August 18 MONTHLY STATISTICS PACKAGE City of Calgary Unemployment rate slows housing market recovery 18 City of Calgary, September, 18 Easing sales, gains in new listings and elevated inventory levels

More information

S Sep eptember 2016

S Sep eptember 2016 September Detached prices stabilize in soft market, October, The segment of Calgary s housing market with the greatest influence on the overall market is showing signs of pricing stability. The detached

More information

Monthly Indicators. Monthly Snapshot. July % + 7.8% %

Monthly Indicators. Monthly Snapshot. July % + 7.8% % Monthly Indicators For residential real estate activity by members of the Florida REALTORS 2012 A few short years ago, housing was considered a headwind to economic recovery. Today, housing is seen as

More information

THE OUTLOOK FOR HOUSING IN ILLINOIS

THE OUTLOOK FOR HOUSING IN ILLINOIS THE OUTLOOK FOR HOUSING IN ILLINOIS Jonathan Smoke Chief Economist January 25, 2017 NATIONAL TRENDS 2 2000.01 2000.05 2000.09 2001.01 2001.05 2001.09 2002.01 2002.05 2002.09 2003.01 2003.05 2003.09 2004.01

More information

Toronto Resale Market...brisk 2005 sales predicted. Source: TREB, CMHC Forecast

Toronto Resale Market...brisk 2005 sales predicted. Source: TREB, CMHC Forecast Toronto Canada Mortgage and Housing Corporation RESALE MARKET Sales will remain strong in 25 Toronto home sales are poised for another strong year in 25. A solid labour market delivering gains in wages

More information

In this report, insights and perspectives are provided for the following areas:

In this report, insights and perspectives are provided for the following areas: ABOUT THE FLASH REPORT Produced by Altus Group, through our Data Solutions team. To show our appreciation for your business, we have put together the following Flash Report which illustrates the expanded

More information

UDIA WA PROPERTY MARKET STATISTICS

UDIA WA PROPERTY MARKET STATISTICS UDIA WA PROPERTY MARKET STATISTICS JUNE 218 1 IN THIS ISSUE KEY TRENDS INDUSTRY UPDATE ECONOMY RESIDENTIAL LAND DEVELOPMENT RESIDENTIAL PROPERTY SETTLEMENTS RESIDENTIAL PROPERTY MARKET RESIDENTIAL CONSTRUCTION

More information

AAug ugust 2017

AAug ugust 2017 August 17 17 Housing recovery a balancing act Growth in new listings outpaced sales preventing inventory declines City of Calgary, September 1, 17 Sales posted a modest gain in August, but a rise in new

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report February 211 1 Housing Bulletin Monthly Report Alberta s preliminary housing starts declined in January 211 Canada Housing Starts 25, 2, 15, 1, 5, DEC 8 JAN 9 Preliminary Housing Starts in Alberta* and

More information

First Quarter 2017 / Industrial Market Report. Market Overview

First Quarter 2017 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 3.4% Availability rate in the Greater Toronto Area vs vacancy rate of 2.2% $6.53 PSF Average asking net rent in the Greater Toronto Area 18 Number of properties in the

More information

2018 Greater Toronto Area Economic Outlook

2018 Greater Toronto Area Economic Outlook 2018 Greater Toronto Area Economic Outlook 1 HIGHLIGHTS Although the Canadian economy performed exceptionally well in the first half of, posting GDP growth of approximately 4.0%, it has slowed since then

More information

MONTHS OF SUPPLY AND PRICE CHANGES. Home improvement November marks a rise in sales. MONTHLY STATISTICS PACKAGE City of Calgary. Nov.

MONTHS OF SUPPLY AND PRICE CHANGES. Home improvement November marks a rise in sales. MONTHLY STATISTICS PACKAGE City of Calgary. Nov. November 17 17 Home improvement November marks a rise in sales. City of Calgary, December 1, 17 The November housing market was spurred by a rise in sales, particularly in the lower price ranges. Sales

More information

Third Quarter 2017 / Industrial Market Report. Market Overview

Third Quarter 2017 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 2.7% Availability rate in the Greater Toronto Area $6.63 psf Average asking net rent in the Greater Toronto Area 18 Number of properties in the Greater Toronto Area with

More information

California Housing Market Update. Monthly Sales and Price Statistics January 2018

California Housing Market Update. Monthly Sales and Price Statistics January 2018 California Housing Market Update Monthly Sales and Price Statistics January 2018 Sales Started with a Slight Decrease California, Jan. 2018 Sales: 388,800 Units, -2.9% YTD, -2.9% YTY 700,000 600,000 500,000

More information

Housing Market Outlook Barrie CMA

Housing Market Outlook Barrie CMA H o u s i n g M a r k e t I n f o r m a t i o n Housing Market Outlook Barrie CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Fall 2014 Highlights Starts up in

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Market Indicators (Direct, All Classes) Direct Net Absorption/Direct Asking Rent 4-QTR TRAILING AVERAGE Direct Vacancy Q3 17 Q3 18 MSA Employment 1.05M 1.07M MSA

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report December 21 1 Housing Bulletin Monthly Report Alberta Housing Starts Fall in November 21 Canada Housing Starts 25 2 15 1 5 8 NOV 8 DEC 8 Preliminary Housing Starts in Alberta* and Canada* November 28 to

More information

2013 San Diego Economic Outlook. 29 th Annual Economic Roundtable Marney Cox Chief Economist San Diego Association of Governments January 25, 2013

2013 San Diego Economic Outlook. 29 th Annual Economic Roundtable Marney Cox Chief Economist San Diego Association of Governments January 25, 2013 213 San Diego Economic Outlook 29 th Annual Economic Roundtable Marney Cox Chief Economist San Diego Association of Governments January 25, 213 US The Problem Slow Economic Growth Gross Domestic Product

More information

Q Table of Contents

Q Table of Contents 218 -218 Table of Contents UDI State of the Market Quarterly Publication ( 218).. 4 Population... 8 1.1 Metro Vancouver Population 28 Present 1.2 Metro Vancouver Population Growth Rate (%yoy) 1.3 British

More information

John DiMichele, CEO, Toronto Real Estate Board

John DiMichele, CEO, Toronto Real Estate Board $ Whether you re interested in a quick snapshot of the market or in obtaining a greater understanding of some of the policy issues that impact housing affordability (along with possible solutions), I am

More information

HOUSING MARKET OUTLOOK Calgary CMA

HOUSING MARKET OUTLOOK Calgary CMA H o u s i n g M a r k e t I n f o r m a t i o n HOUSING MARKET OUTLOOK Calgary CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Fall 2011 NEW HOME MARKET Total housing

More information

Edmonton s Housing Story Housing Crunch Roundtable April 28, 2014

Edmonton s Housing Story Housing Crunch Roundtable April 28, 2014 Edmonton s Housing Story Housing Crunch Roundtable April 28, 2014 What does Canada s Housing Crunch mean for Edmonton? Economic Growth Population Growth Housing Crunch Economic Growth % real growth 4.5

More information

2018 Housing Market Outlook. Central Coast Realty Group Business Symposium February 22, 2018 Oscar Wei Senior Economist

2018 Housing Market Outlook. Central Coast Realty Group Business Symposium February 22, 2018 Oscar Wei Senior Economist 2018 Housing Market Outlook Central Coast Realty Group Business Symposium February 22, 2018 Oscar Wei Senior Economist Overview Economic Update California Housing Market Outlook Regional Housing Market

More information

San Francisco Bay Area to Marin, San Francisco, and San Mateo Counties Housing and Economic Outlook

San Francisco Bay Area to Marin, San Francisco, and San Mateo Counties Housing and Economic Outlook San Francisco Bay Area to 019 Marin, San Francisco, and San Mateo Counties Housing and Economic Outlook Bay Area Economic Forecast Summary Presented by Pacific Union International, Inc. and John Burns

More information

Metro Halifax Housing Market Update

Metro Halifax Housing Market Update Metro Halifax Housing Market Update Guillaume Neault, Senior Market Analyst, CMHC CANADA MORTGAGE AND HOUSING CORPORATION HOUSING OUTLOOK CONFERENCE - HALIFAX Housing market intelligence you can count

More information

Economic Development Update Q1 2018

Economic Development Update Q1 2018 Economic Development Update Q1 2018 The City of Ottawa Economic Development Update provides an overview of quarterly and annual economic indicators to the city s economy. The Q1 2018 update covers the

More information

In This Issue Overview Highlights Housing Market Trends OVERVIEW Highlights Next Step

In This Issue Overview Highlights Housing Market Trends OVERVIEW Highlights Next Step In This Issue VOLUME 1, ISSUE 6 DECEMBER 2008 Overview Highlights Housing Trends Housing Starts Resale Total Number of Homes on the Average Vacancy Rates Average Rental Rates Prepared by: Policy and Urban

More information

UDIA WA PROPERTY MARKET STATISTICS

UDIA WA PROPERTY MARKET STATISTICS UDIA WA PROPERTY MARKET STATISTICS OCTOBER 217 1 IN THIS ISSUE KEY TRENDS INDUSTRY UPDATE 3 4 ECONOMY RESIDENTIAL LAND DEVELOPMENT RESIDENTIAL PROPERTY SETTLEMENTS RESIDENTIAL PROPERTY MARKET RESIDENTIAL

More information

Toronto Central strengthens its position as market with lowest office vacancy in North America

Toronto Central strengthens its position as market with lowest office vacancy in North America MARKETVIEW Toronto Office MarketView, Q3 2016 Toronto Central strengthens its position as market with lowest office vacancy in North America GTA Vacancy Rate 9.1% GTA Asking Net Rental Rate $17.72 PSF

More information

Q manhattan. the corcoran report. comitini. com

Q manhattan. the corcoran report. comitini. com Q3. manhattan the corcoran report peter comitini comitini.com peter@ comitini. com 212. 444.7844 3 r d QUARTER We are pleased to present the Third Quarter Corcoran Report, an easy-to-read snapshot of the

More information

Document under Separate Cover Refer to LPS State of Housing

Document under Separate Cover Refer to LPS State of Housing Document under Separate Cover Refer to LPS5-17 216 State of Housing Contents Housing in Halton 1 Overview The Housing Continuum Halton s Housing Model 3 216 Income & Housing Costs 216 Indicator of Housing

More information

Table of Contents. UDI State of the Market Quarterly Publication (Q4 2017).. 4 Population Economic Indicators Economic Indicators...

Table of Contents. UDI State of the Market Quarterly Publication (Q4 2017).. 4 Population Economic Indicators Economic Indicators... -217 Table of Contents UDI State of the Market Quarterly Publication ( 217).. 4 Population... 8 1.1 Metro Vancouver Population 27 Present 1.2 Metro Vancouver Population Growth Rate (%yoy) 1.3 British Columbia

More information

HOUSING MARKET OUTLOOK St. John s CMA

HOUSING MARKET OUTLOOK St. John s CMA Housing Market Information HOUSING MARKET OUTLOOK St. John s CMA Date Released: Fall 2015 Highlights Residential sales and construction to remain flat due to low commodity price environment Less new home

More information

If you are planning to undertake a move in the coming

If you are planning to undertake a move in the coming trebtalk Buying a new home BY BILL JOHNSTON If you are planning to undertake a move in the coming months, you have probably considered whether to choose new or resale housing. Both options have advantages.

More information

Monthly Indicators % % - 3.5%

Monthly Indicators % % - 3.5% Monthly Indicators 2017 New Listings were up 6.3 percent for the category but decreased 33.1 percent for the category. Pending Sales increased 5.0 percent for but decreased 1.3 percent for. The Median

More information

Produced by. State of the Market Quarterly Market Research Report

Produced by. State of the Market Quarterly Market Research Report Produced by 4 State of the Market Quarterly Market Research Report Cover Design by Sponsored by Table of Contents - UDI State of the Market Quarterly Publication ( ) 4 Population.. 7 1.1 Metro Vancouver

More information

MONTGOMERY COUNTY JANUARY 2019 MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR DECEMBER & 4TH QUARTER 2018

MONTGOMERY COUNTY JANUARY 2019 MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR DECEMBER & 4TH QUARTER 2018 STATPAK MONTGOMERY COUNTY JANUARY 2019 McEnearney.com MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR DECEMBER & 4TH QUARTER 2018 Contract activity in December 2018 was down 10.1% from December 2017

More information

TOP-TIER REAL ESTATE REPORT 2016 YEAR END REPORT

TOP-TIER REAL ESTATE REPORT 2016 YEAR END REPORT TOP-TIER REAL ESTATE REPORT 2016 YEAR END REPORT CONTENTS Introduction 3 National Summary 4 Vancouver Market Summary 8 Overall Market 11 Condominiums 12 Attached Homes 13 Single Family Homes 14 Sample

More information