THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Tuesday, February 13, 2018

Thursday, January 11, 2018

Condos fuel the strongest year in a decade for Canadian builders


The boom has surprised policy makers and analysts, most of whom began the year predicting the industry would be a drag on the economy.



Starts on multiple-unit projects such as condos hit a record in figures dating to 1955. Postmedia Network

Last year was a blockbuster for Canada’s real estate developers after work began on the most homes in a decade amid soaring demand nationwide.

Construction started on 219,675 units, according to 2017 data Tuesday from Canada Mortgage and Housing Corp. That’s up from 197,916 in 2016 and the most since 2007. Starts on multiple-unit projects such as condos hit a record in figures dating to 1955.

The boom has surprised policy makers and analysts, most of whom began the year predicting the industry would be a drag on the economy. It reflects fundamental drivers such as a buoyant economy and rising population.


For information on buying or selling and the current real estate market, contact me by email or call 416-322-8000.

Wednesday, January 10, 2018

Wednesday, January 3, 2018

Tiny condo, no storage space? Valet service will store your stuff

A look at new tech startup Second Closet, an online storage solution recently launched by a 22-year-old entrepreneur.



Friday, December 8, 2017

MARKET UPDATE FOR THE WEEK ENDING DECEMBER 1ST, 2017

As the calendar flips for the last time this year and we are three weeks shy of Christmas, it feels like we are all gearing up for the holiday festivities. The offices are a little slower, listings are dropping off and the buyers are taking a break. The November stats were released from The Toronto Real Estate Board and for the City of Toronto the average price was up 2 percent to $802,220 from November 2016. We saw a sizable number of new listings (14,349) for the entire GTA, up by 37 percent compared to November 2016. This boost to home ownership could be because of the upcoming changes to mortgage guidelines, which come into effect in January. On a year-to-year basis, the average selling price was up by 13.4 percent compared to same period last year. All the negative headlines are for the entire GTA, but conditions continue to be stronger for the City of Toronto.

The freehold sector in the central and east neighbourhoods saw a drop in new listings last week by 14 percent, while the west end remained on par as the week before. As December approached we also saw a drop in sales by 25 percent for all freehold but the bidding wars were still happening with 27 per cent selling over the asking price.

The condo market in the City of Toronto is still sizzling with the average price now at $555,965. Last week we saw a decline of 12 per cent in new listings for all neighbourhoods and a small decline in sales by 6 percent but the bidding wars were still strong with 32 per cent selling over the asking price. The condo market continues to lead the way in terms of price growth in the GTA.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake and Port Hope, Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

For help in interpreting this information as it relates to your property, please call or email me and I  will be happy to assist you without any obligation.

Thursday, December 7, 2017

CNIB Ontario's new Community Hub at 1525 Yonge St. (north of St. Clair Ave).

I had a great afternoon last week visiting CNIB's new Community Hub - the first of its kind in the province - at 1525 Yonge St. (north of St. Clair Ave).

The Hub is an innovative, fully accessible space where people with sight loss in the GTA can come for social and emotional support, learn new skills, take part in programs, workshops, host events, hang-out and thrive in an engaging space. 

Angela Bonfanti, Executive Director of CNIB in the Greater Toronto region, gave me a tour of The Hub and told me that there are over 80,000 blind or partially sighted people in the GTA. And with an aging population, that number is expected to increase.

She explained that people with vision loss often experience isolation as it can be intimidating to venture out and socialize. The Hub aims to change that by providing a safe and accessible environment for members of the community to meet.

The Hub and many of the neighbouring businesses are equipped with beacons to help people with sight loss navigate the neighbourhood. It was fascinating to see how the technology works: when a beacon is installed in a building, it connects to a GPS app called BlindSquare and relays a verbal navigation to user’s phones. The beacons essentially provide directions and navigation indoors and outdoors including a description of the business, the layout or floor plan of the shop, and the goods for sale or on display.


The Hub aims to level the playing field for community members with sight loss with specialized life-enhancing programs, classes and workshops to enable people with sight loss to lead fuller, more independent lives and redefine what it means to be blind. Many of the program leads and volunteers are people living and working with sight loss themselves.

"Our Hub is a space that will help community members with sight loss smash barriers in areas of access, employment, research & technology and literacy to create an inclusive community where individuals with sight loss thrive," said Bonfanti. 

Accessible computers for community members are also available for people who want to update their resum├ęs, get online to learn new programs and just spend time in a social environment while researching new tools and programs or train for a new job. There is also a very cool virtual reality room on the top floor where community members (both with sight loss and full vision) can simulate various situations for people living with sight loss - such as walking across a busy street.


There is a kitchen where members can try out their cooking skills, and children can learn to help their parents in the kitchen. Oh, and let's not forget the "Doggy Zone" at the front door for those K9 helpers and best friends to have a drink, relax and socialize with other dogs, there's an array of toys for them to enjoy. 

 

This two-storey facility is so inviting with large windows and a painted mural at the front entrance by local artist Leyland Adams. A tactile tree created by Kate Ramos trails along the staircase and features the hand-prints of the many volunteers and employees who helped open this inclusive environment!

To learn more The Hub and upcoming events, check out http://www.cnib.ca/en/ontario/gta/Pages/default.aspx and be sure to follow them on Facebook https://www.facebook.com/CNIBOntario/ and  Twitter at @CNIB_Ontario 


Tuesday, December 5, 2017

Tuesday, November 28, 2017

New condo, townhome sales and prices soar in October

By TESS KALINOWSKI
Real Estate Reporter
Fri., Nov. 24, 2017
TheTorontoStar.com

High rises account for most new construction sales in October, but prices are also rising.

The boom in condos and stacked townhomes pushed sales of new construction homes in the Toronto region up 18 per cent year over in year in October — accounting for 91 per cent of the overall 5,377 purchases.

The remaining 9 per cent of sales were low-rise, single-family homes, including detached, semi-detached and town houses.

A 70 per cent decline in the number of transactions in the low-rise category in October, compared to the same month last year, was accompanied by a 30 per cent increase in prices that averaged about $1.22 million.

New construction detached houses now cost $1.55 million on average, according to the homebuilders’ group Building and Land Development Association (BILD).

At the same time, condo sales climbed 70 per cent with a 40 per cent year-over-year price increase to $677,456 on average.


That translates to an average price per square foot of $791 with the size of condos averaging 857 sq. ft.

The sales and price trends are a reflection of the declining choice for home buyers, according to BILD.

"We're still not building enough homes for the demographic reality of the Greater Toronto Area. Housing choice has diminished so markedly over the last 18 months to two years, even in the high rise market, prices are continuing to go up," said CEO Bryan Tuckey.

Click here to read more...

For information on buying or selling and the current real estate market, contact me by email or call 416-322-8000.

Friday, November 10, 2017

CBC News Posted: Oct 04, 2017 7:00 AM ET Last Updated: Oct 04, 2017 9:46 AM ET

Sales down 34% overall but condo prices up by more that 20%, Toronto Real Estate Board says

Overall home sales in September were down in the Greater Toronto Area over the same time last year but condo prices continue to rise, according to figures released Wednesday morning by the Toronto Real Estate Board (TREB).

Even though listings were up by 9.4 per cent compared to September 2016, sales were down by 35 per cent, the TREB report said.

The overall average price of homes in the GTA was $775,546 last month — up 2.6 per cent from the same time last year.

This follows a spring buying season in which the growth in Greater Toronto real estate prices slowed considerably, in the wake of measures taken by the provincial government to cool off the region’s red hot market.

But the board says the numbers indicate sellers think buyers are coming back to the market.

“The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall, TREB president Jim Syrianos said.

“Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong. As we move through the fourth quarter we could see some buyers moving off the sidelines, taking advantage of a better-supplied marketplace.”

But even with more supply of single-family homes, the supply of condos in the GTA is still tight and prices show no sign of cooling off.

“With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condominium apartment market segment, where average and benchmark sales prices were up by more than 20 per cent compared to last year,” said Jason Mercer, TREB’s director of 
market analysis. While the numbers have jumped, they’re not entirely surprising. Consumer polls conducted in the spring indicated a shift toward condominiums, Mercer said.

While the numbers have jumped, they're not entirely surprising. Consumer polls conducted in the spring indicated a shift toward condominiums, Mercer said.​

For information on buying or selling and the current real estate market, contact me by email or call 416-322-8000.