3621 Highway 7 East, Suite 403, Markham, Ontario L3R0G6 Tel: 905-305-9669 Fax: 905-305-9668 www.landpower.ca Visit our INSIDE THIS ISSUE: Landpower s upcoming projects North Oakville Detached Houses P.1 The Point P.2 From the News P.3-4 Mortgage Rates P.5 Location: 6th Line & Dundas St., Oakville A short drive away from a variety of shops located at the Oakville Place Located in Oakville, a beautiful lakeside town with a well-preserved sense of heritage Close by to Sheridan College 38 Detached homes available
Location: Don Mills Rd. & Sheppard Ave., Toronto Surrounded by nearby shopping venues and eateries such as Fairview Mall, Bayview Village, and Shops at Don Mills Right next to the Don Mills subway stop, giving you access to the downtown core and other methods of public transit such as GO and VIA Rail Just next door to the Parkway Forest Community Centre, featuring a full-sized gymnasium, dance studios, aquatic centre, a YMCA-run daycare, and more! Page 2
Toronto housing market downturn to be short-lived, federal housing agency says CMHC says Canada s housing market is overvalued in some markets, including Vancouver, Victoria, Hamilton and Toronto. (Darren Calabrese/Canadian Press) The recent downturn in Toronto s real estate market, brought on after Ontario introduced measures this spring including a foreign buyers tax, is expected to be brief, the federal housing agency said Wednesday. Property prices in the city which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp. said. The response we re seeing in the Toronto market seems almost emotional and a knee-jerk reaction to some of the changes, which suggests that these impacts will be short-lived, Dana Senagama, CMHC s principal market analyst for Toronto, said during a conference call to discuss the agency s latest housing market assessment. The provincial government s measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes. If job creation continues in Toronto and the economy continues to fuel the housing demand, we can expect some of the pressures on house prices in Toronto to resume, said Bob Dugan, CMHC s chief economist. Like Toronto, Vancouver also experienced a real estate slowdown following the implementation of a tax on foreign buyers a year ago. But there have been signs this year that the city s housing market is heating up again. In its latest quarterly house price survey released two weeks ago, Royal LePage said home sales in Vancouver began to recover in the April-to-June period after the tax bruised consumer confidence. The realtor reported in April that sales in Vancouver s housing market jumped by almost 50 per cent on a month-over-month basis. CMHC, in its latest housing market assessment released Wednesday, kept its overall risk rating for the national housing market at strong. The quarterly report, which is based on data from the first three months of this year, precedes the Ontario government housing rules. Source: By: The Canadian Press, Published on July 26, 2017 See the original article here. Page 3
17 Facts showing how toronto s condo market stood tall in q2 2017 This week the Toronto Real Estate Board (TREB) has published its quarterly reports on the resale condo market as well as the condo rental market. The latest Condo Market Report and Rental Market Report showed strong annual growth in sale prices and rents in the Greater Toronto Area. The gains come in the wake of Ontario s Fair Housing Plan, which includes measures affecting both segments namely, rent control and a foreign-homebuyer tax. Many households, especially first-time buyers looking to live in the City of Toronto, have turned their attention in increasing numbers to less expensive forms of ownership housing, writes Jason Mercer, TREB s director of market analysis, in a statement about condo demand. But don t just take Mercer s words for it. Here are 17 facts showing how Toronto s condo market stood tall in Q2 2017. 1. GTA condos sold for an average of $532,032 during this year s second quarter. 2. That s roughly $25,000 more than the average price price of a Canadian home, including houses and condos, according to the Canadian Real Estate Association. 3. The average GTA condo sale price in Q2 also represents a whopping 28.1 per cent increase from a year before. 4. Dollar for dollar, that s a spike of $116,706. 5. This pricing exuberance played out even as GTA condo sales over the quarter dropped 8 per cent compared to activity seen during the same period last year. 6. That put Q2 2017 sales at a total of 8,223 units. 7. All those sales equalled more than $4.3 billion worth of real estate. 8. That s around equal to the cost of putting on eight Canada 150 celebrations. 9. Meantime, renters looking for one-bedroom condos signed leases for an average rent of $1,861 per month this past quarter. 10. At that rate, a year-long lease would cost a renter $22,332. 11. On a year-on-year basis, one-bedroom condo rents surged 8.8 per cent. 12. And two-bedroom rents nearly mirrored this annual growth at 8.7 per cent. 13. These more-spacious units rented for $2,533 on average. 14. Yet renters kept on signing leases: The number of rental transactions reported through TREB s MLS System remained in line with Q2 2016 levels, the board states. 15. Interestingly, only 273 bachelor condo units leased in the GTA during the entire quarter. 16. Compare that to the 5,027 one-bedroom units that did so over the same timeframe in the area. 17. On average, condo rental listings only stayed on the market for 12 days. Source: By: Josh Sherman, Published on July 25, 2017 See the original article here. Page 4
TD canada trust mortgage rates provided by Mobile Mortgage Specialist Yvonne Tong Longer fixed terms will be available, please contact Yvonne Tong at (416) 407-4480 Page 5