Outlook 2020 – Deena Pantalone, Managing Partner and Director of Marketing & Innovation, National Homes
Part of our series of Outlook 2020 Q&As with building industry executives
How do you see the outlook for the new home industry in 2020?
We’re going to see strong demand fueled by record population growth. The period from August 2018 to July 2019 was the largest 12-month population increase in Canada’s history. And the industry is not building enough housing, especially rental housing. At the end of November 2019, ReMax predicted a six-per-cent increase in the average cost of a Toronto resale home in 2020 – fueled by demand that just isn’t being met.
Ben Myers of Bullpen Research says Toronto needs 22,000 new rental apartments a year to create a healthy vacancy rate of three per cent. If you include all the new purpose-built rental units coming on, say 4,000, plus if you assume that three-quarters of all new condos will be rented, then we’re still falling 9,000 units short. That’s not good for renters, homeowners or the health of our economy.
One thing I definitely see is that people are open to new ideas, new technology and design that will make their lives easier and give them time for the important things in their lives. And that means property technology (Proptech) will become more and more central to their lives, and to the building industry in general.
And what’s the outlook for National Homes?
For decades now, National has focused on putting the needs of our customers first, and that’s what our You are the Blueprint philosophy is all about.
This year, we’re introducing a wide range of “Bright Ideas” that were developed at National’s inaugural Blueprint Workshop. Globally recognized leaders in the fields of technology, product development and design, participated in group interactions and the co-creation process. Also taking part were dozens of past and prospective National buyers of varied ages and demographics; National staff architects, designers and engineers; and students from York University’s Schulich School of Business real estate master’s program. The results are now being unveiled in our newest communities.
What is National Homes doing to address the issues facing the homebuilding industry – namely, affordability and new home supply?
Our Bright Ideas are intended to make people’s lives simpler, from innovative Proptech to design solutions. We are introducing four different townhome projects, from Courtice in the east to Burlington in the west. We are also introducing new construction thinking, such as our Panergy Wall Systems that bring factory efficiency and quality with significant energy cost savings, year after year.
We’re also making it easier for young families to own with plans for flexible down payment programs.
What more could the industry do to address these issues?
It’s all about innovation! The building industry hasn’t changed much in 100 years. New thinking, new products, new technology… the only way we’re going to adapt to the needs of a new millennium are by doing things differently and better.
Our industry needs new ways of building that save time, and therefore money, new products that save real dollars in energy costs, new construction methods that reduce waste and improve quality.
What should prospective new-home buyers know about National Homes for 2020?
In Bradford, we have 40 detached ravine lot homes from the mid $800’s at The Forest. In east Brampton’s Three Rivers Claireville, we have Phase 2 of our townhomes, right next to the 850- acre Claireville Conservation Area. In Burlington, we’re launching townhomes at Tyandaga Heights on Brant Street, by the Tyandaga Golf Course. And in Courtice, we’re introducing The Vale by National, backing onto woods and a stream.
Why should homebuyers consider buying from your company in 2020?
We design with the needs of our customers in mind. That’s more than a motto, it’s central to the way we work. Our Blueprint Workshops are the spark that drives our design. We learn what people want; what they wish builders could offer; then we create the communities, the homes and the features that satisfy those dreams. And we’re building communities from east to west, so if you’re looking for a National home, we’re where you want to live.
Special Report: Outlook 2020