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Get some Design Intervention at the GTA Home & Reno Show

Get some Design Intervention at the GTA Home & Reno Show

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Get some Design Intervention at the GTA Home & Reno Show

by David Wilkes

GTA Home & Reno Show presented by RE/MAX coming February 16 to 19, 2018 at the International Centre in Mississauga

I love investing in my home. It’s where my family and I start and finish our day, it’s where we relax and entertain — it’s where we live our lives.

I have picked up inspiration and ideas for home improvement projects from home shows over the years. And now I work with the team that creates the four annual events because they are a part of BILD.

With the GTA Home & Reno Show presented by RE/MAX coming up on February 16 to 19, 2018— the Family Day weekend — at the International Centre in Mississauga, I sat down with Toronto Home Shows’ online community manager, Anna Rocoski, and answered a few questions to help explain how visitors can get the most out of the show — and make their next home renovation a success.

Anna Rocoski: How has the GTA Home & Reno Show helped you with your own renovations?

David Wilkes: We were looking to change the exterior of our house, so we went to the show not really knowing what to do or what the cost would be. We talked to a couple of people who were in the renovation business, specializing in stucco and other exterior work, and we were pleased to leave with some ideas. These ideas led to a follow-up visit to another home show and finally to doing business with the renovators. They ended up doing a great job of changing the exterior of our home and we’re happy to this day with the work they’ve done.

AR: What is the best approach when planning a visit to the GTA Home & Reno Show?

DW: There are two ways to go. One way is to go to explore possibilities for making your home different and the other is to go with an idea or plan in mind. We’ve often gone to get ideas and have come away with exactly what we needed to start making a concrete plan. The show is a great investment of your time because you see new things you didn’t think about and learn very specific information on how to undertake a project.

AR: Have you ever tried a DIY home improvement?

DW: Yes, but it didn’t go well. Do-it-yourself takes many forms, from hanging a picture to completing a big kitchen renovation. I tend to let the professionals do the bigger ones, whether inside or outside the home, because I recognize that larger projects require skills that I don’t have. DIY is fun, but you have to have the right tools, the right equipment, the right confidence, and that’s not who I am. I stick to hanging pictures.

AR: What are you most excited about seeing at this year’s GTA Home & Reno Show this year?

DW: I can’t wait to meet RenoMark renovators at the Destination Renovation booth. They’re offering free, 15-minute consultations and I am looking forward to getting professional advice. I’m also a huge fan of Handyman’s Corner, where I can pick up tips on how to improve my picture-hanging skills and tackle other small fixes around the house.

My turn to ask a question: As an insider, what other features of the show would you recommend to people?

AR: In addition to more than 300 vendors, we have expert speakers like HGTV’s Scott McGilligvray, Cityline’s Leigh-Ann Allaire Perrault, handyman Chris Palmer, a feature home built by Bonneville Homes, interior designers offering free consultations at Design Intervention (sponsored by Reno & Decor magazine), family activities on Family Day and so much more.

And from experience, I’d say plan your day online at gtahomeandrenoshow.com — and be sure to bring your smart phone for photos, a notebook and a pen.

Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA.


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Real Estate Sales 2017 Year-End and 2018 Forecast

Real Estate Sales: 2017 Year-End and 2018 Forecast

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Real Estate Sales: 2017 Year-End and 2018 Forecast

In the GTA, 2017 set a record high in new condo apartment sales and a record low in single-family home sales

In the GTA new home market, 2017 was a year of declining inventory, high prices and strong sales, setting a record high in new condo apartment sales and a record low in single-family home sales, the Building Industry and Land Development Association (BILD) announced January 26, 2018.

Overall in 2017, there were 44,143 new homes sold in the GTA, according to Altus Group, BILD’s official source for new home market intelligence. That makes 2017 the fourth strongest year for new home sales in the GTA since Altus Group started tracking in 2000. Only 2002, 2011 and 2016 had stronger new homes sales, with 2002 being the highest at 53,660 units sold.

Of the new homes sold in 2017, 82.5 per cent (36,429 units) were condominium apartments in low, medium and highrise buildings, stacked townhouses and loft units, the highest number of condo apartments sold in any year in the GTA, while 17.5 per cent (7,714) were single-family homes, including detached, link, and semi-detached houses and townhouses (excluding stacked townhouses), the lowest number sold since Altus Group started tracking in 2000.

“Low inventory and escalating prices across the board are behind the highs and lows of the sales numbers we saw in 2017,” said David Wilkes, BILD’s new president and CEO. “Our industry wants to build new homes to increase the housing supply in the GTA, but we need municipalities to work with us to expedite the process by simplifying the development approval process, updating zoning by-laws to align with provincial policies and servicing developable land with critical infrastructure.”

The supply of new housing is typically measured by the number of new homes available for purchase in builders’ inventories at the end of the month and includes units in pre-construction, under construction and completed projects. At the end of December 2017, there were 11,397 new homes available for purchase, down 13.2 per cent from 13,136 at the end of December 2016 and 60.3 per cent below the 28,739 new homes available 10 years ago. Since 2000, the total inventory at the end of each month has typically been between 20,000 and 30,000 units. For over a year and a half now, it has been below 20,000 units.

The decline in single-family home inventory has been even more dramatic. At the end of December 2017, there were 3,481 new single-family homes available for purchase, down 74.4 per cent from 10 years ago.

New home prices rose again in December 2017, with the benchmark price for available new single-family homes at $1,225,774, which was 23.2 per cent above last December’s benchmark price of $995,116. Meanwhile the benchmark price for available new condo apartments was $716,772 in December, 41.3 per cent above the December 2016 benchmark price of 507,128.

“While many end user buyers have been looking to the new condominium apartment sector for more affordable homes, some are now starting to be priced out of this segment as well,” said Patricia Arsenault, Altus Group’s executive vice president of Research Consulting Services.

Wilkes said BILD will be raising issues of housing supply and affordability as the municipal elections approach this fall.

“As the GTA prepares for unprecedented growth, we must get this right to ensure the region continues to be one of the most dynamic and vibrant places to live,” he said. “We are calling on governments at all levels to ensure that people who choose to live in the GTA can afford to purchase a new home.”

December 2017 New Home Sales by Municipality

Dec. 2017Condominium ApartmentsSingle-familyTotal
Region201720162015201720162015201720162015
Durham17504321759438125137
Halton1705947539385223152132
Peel87130501215219699282246
Toronto3521,6921,031832173601,7241,048
York21834515565277226283622381
GTA8442,2761,32615962961810032,9051,944
Source: Altus Group

bildgta.ca


Robust Activity Will Continue In 2018

The “2018 GTA Flash Report,” which provides a comprehensive review of the real estate market in the GTA based on 2017 data, was released January 26, 2018 by the Altus Group. The report highlights another record-breaking year for total investment property sales volumes, and looks at the performance of commercial leasing, land and residential sectors in the GTA.

Investment property sales, including land sales, as well as sales of office, retail, industrial, hotel and rental apartment properties, reached a total of $23.5 billion in 2017, a 38 per cent increase from 2016 and a record for the seventh consecutive year. Residential land sales contributed a record $8.5 billion to the total, up $2.8 billion over 2016.

In the office-leasing sector, the GTA-wide office vacancy rate fell in 2017 to 8.9 per cent (including vacant but leased space), even with the completion of 13 new office buildings that have added two million square feet of inventory. Most of the new office supply under construction is in the downtown submarket, where the vacancy rate at the end of 2017 was below 6 per cent.

Turning to the new home sector, Altus Group’s data shows that total new home sales in the GTA reached just over 44,000 units in 2017, the fourth highest level on record. New condominium apartment sales, which includes apartments in low, medium and high-rise buildings, lofts and stacked townhouses smashed the previous annual record set in 2016 with just over 36,400 units in 2017.

“Altus Group data show that homebuying intentions remain strong in the GTA, despite the many roadblocks that have been put in potential buyers’ way due to factors such as price escalation in recent years, rising interest rates, tighter lending criteria and additional stress testing,” said Matthew Boukall, senior director at Altus Group.

The buoyancy in the GTA real estate sector in 2017 is poised to continue this year according to Altus Group experts. Below are key predictions for 2018:

Office shared work spaces: The trend of renting workstations within a larger office space will grow in the GTA as low vacancy rates lead to higher rents. Look for this segment to grow not just in the downtown market, but throughout the GTA, as employers look to accommodate staff pushed further out in search of more affordable housing options.

Land sales: Residential land sales are expected to be strong in 2018, although higher prices and various policy changes have introduced more uncertainty to the land market. High-demand areas are likely to remain expensive, which could push some developers to seek more affordable options outside traditional core areas.

New homes market: New condominium apartment sales are expected to remain elevated in 2018. However, surpassing 2017 levels will be a challenge. While investor interest continues to be strong, some end user buyers who have been looking to the new condominium apartment sector for more affordable homes are now starting to be priced out of this segment as well. Some modest increase in new single-family sales is possible, however sales in this segment will continue to be challenged by lack of available product, in particular options that are affordable to a broader range of buyers.

Industrial and Retail: Demand for industrial space will remain strong as online and traditional retailers seek warehouse space to support their e-commerce business strategies. Retailers will continue to shrink their brick and mortar footprint and traditional retail space will continue to evolve as retail centres focus on consumer experiences, especially food themes, to draw in traffic.

Investment Property: Investor appetite will remain strong in 2018. With interest rates moving up, there is potential for some shift away from debt-financed buyers toward more cash-focused institutional buyers.

Download the full “GTA Flash Report 2018” at datasolutions.altusgroup.com/gta-flash-report-2018

altusgroup.com


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BILD - Building Industry and Land Development Association

BILD names David Wilkes to post of president, CEO

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BILD names David Wilkes to post of president, CEO

The Building Industry and Land Development Association (BILD) board of directors is pleased to announce the appointment of David Wilkes to the position of president and chief executive officer effective January 3. Wilkes takes over from Bryan Tuckey, who has been at the helm for five years.

“We are thrilled that David will join BILD and lead it through its next period of growth,” said Darren Steedman, chairman of the board of directors. “This is the culmination of an extensive search process. We are pleased to have found an individual with the background, skills and leadership to take BILD to new levels of advocacy.”

“This is an exciting time for BILD and I am delighted to be taking on the role of president and CEO,” said Wilkes. “I’m ready for the challenge of leading an industry that employs over 197,000 people and brings $30 billion in investment value to the Greater Toronto Area.”

Wilkes was most recently the senior vice president of government relations and grocery at the Retail Council of Canada (RCC) where he provided leadership to a national team that was responsible for RCC’s government relations activities at the national, provincial and municipal levels.

In 2011, he established RCC’s Grocery Division and the unique CEO-based forum known as the Grocer Manufacturer Collaborative, both of which were precedent-setting initiatives.

Wilkes brings more than 25 years of senior management experience and has provided strategic leadership for the retail industry as a passionate spokesman, appearing in front of parliamentary committees, senior cabinet ministers and industry groups.

Wilkes has a longstanding commitment to volunteer activities and currently serves on the Ryerson School of Retail advisory board and the Ontario Curling Association board of directors. He served on a variety of industry boards and committees including GS1 Canada Grocery, Foodservice and General Merchandise Boards, Toronto Food Incubator Board of Directors, George Brown College Board of Governors and Ministerial Advisory Committee on Underground Economy.

With more than 1,450 member companies, BILD is the voice of the homebuilding, residential and non-residential land development and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders’ Associations.

http://www.bildgta.ca/

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