Canadian home construction surges
Canada's housing and construction industry
continues to bounce back sharply.
Housing starts across the country rose more than 12 per cent in August,
hitting a seasonally-adjusted annual rate of 150,400, Canada Mortgage and
Housing Corp. said Wednesday. That level was up from the annual rate of 134,200
in July, the agency said.
"Housing starts are trending higher, reflecting improvements in both the
single and multiple segments," Bob Dugan, chief economist of the agency's
Market Analysis Centre, said in a statement. "The improvement in housing starts
is consistent with our expectation of a stronger second half for 2009."
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Affordable Canadian homes slipping away?
While
affordability is still improving, it appears that this 'restorative phase of
the affordability cycle is likely running out of steam,' the Royal Bank of
Canada said Wednesday.
The cost of owning a home, as measured
against household income, has fallen for the fifth consecutive quarter, Royal Bank of Canada
economist Robert Hogue said in a report published Wednesday.
"There has been
some fairly significant improvement [in affordability], the most significant improvement
since the early '90s recession. Home ownership is much closer to many families
across Canada," Mr. Hogue said.
But with interest rates levelling out and housing prices firming, "this
restorative phase of the affordability cycle is likely running out of steam."
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Market News
GTA REALTORS® Report
Sales and Price Growth in September
TORONTO, September
16, 2009 -
In the first two weeks of September, Greater Toronto REALTORS® reported 3,361 sales -
up 23 per cent compared to the first two weeks of September 2008. The average
price for these transactions was up eight per cent year-over-year to $393,818.
"An increasing number of positive
reports pointing to economic recovery coupled with low interest rates have kept
households confident in purchasing a home," said TREB President Tom Lebour.
Year-to-date sales, at 61,676 are up
three per cent compared to 59,971 in 2008.
Average price, at $386,302, is up by
one per cent from $383,776.
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Queen West Art Crawl
The Queen West Art Crawl runs from September 18th to 20th and includes an art show and sale in Trinity Bellwoods Park, a Crafter's Market, Independent Press showcase and even a Kids Zone.
Participants in the Crawl
include galleries, restaurants, boutiques and studios from Roncesvalles
to Spadina Avenue, in addition to our marquee events in Trinity
Bellwoods Park and Parkdale Town Square.
Click here for more information
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Sold for 119% of list price!
231 Fort York Blvd. #124
Fabulous Waterfront Living While Still In The Heart Of The City.
Beautiful 810 Square Feet, 2 Beds/2 Baths With 10Ft Ceilings, Large
Terrace And Parking. Loads Of Storage With 5 Closets. Steps To Ttc,
Harbourfront, Cne, Ontario Place And More.
Click here for the full listing |
Sold for 108% of asking!
230 Queens Quay W 919
The Riviera, Spacious South East Facing One Bedroom Unit. Dark Parquet
Floors, Granite Counter In Kitchen, Large Laundry Area, Spacious
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Sold! Two level loft in
Liberty Village
46 East Liberty St #512
We brought our buyer to this Elegant 2 Level Loft In Liberty Village| 918 Sq.Ft (Inc. 133 Sq.Ft
Terrace| Over $60K In Upgrades| Floor-To-Ceiling Windows|
Bathroom-|custom-Built Vanity W/Designer Sink & Marble Vanity &
1-Piece Toto Toilet| High-End Chrome Faucets| Soaker-Tub W/Seamless
Glassdoors,Rainshower,Tumbled Marble| Potlights,Chandaliers| Custom
Draperies&Blinds| Prof. Painted| Custom-Built Closet Organizers|
Security Alarm| 1 Underground Parking W/Extra Street Parking Permit|
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The Rental Corner:
Terrific King West Townhome
128 Strachan Ave #1 Available unfurnished for $2400/$2800 furnished Wonderful Townhome In King West. High Demand "Massey Commons", 1418
Sq.Ft. 2 Bedrooms, 2 Full Bathrooms, Family Room And Office, Ensuite
Laundry Room, Open Concept Lr/Dr/Kit, Private Built-In Garage, Spacious
Deck Allows For Bbq. Great Space. Click here for more information |
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