At the beginning of June, Canada Mortgage and Housing Corp. (CMHC) announced its decision to tighten the guidelines for insured mortgages as of this month. This applies to mortgages with down payments of less than 20 per cent that require CMHC default insurance.
Given the recent COVID-19 pandemic, there have been varying outlooks of how the Canadian housing market will be impacted. Evan Siddall, CEO of CMHC – who is also scheduled to depart from the organization later this year – strongly believes that Canadian housing prices will be lowering despite upward trends seen across the country. As a result, he implemented these new policies to stop borrowing from who he deems to be riskier buyers.
When he made this decision, there was a lot of disappointment among first-time homebuyers, as they believed this directly targeted them and negatively affected their ability to buy a home. Now that the dust has settled around this and these changes are in full effect, we’re gaining more insight into who may be affected, and how – some good news for those worried first-time buyers.
So, what exactly are the new CMHC guidelines?
As of July 1, the following rules came into effect for insured mortgages:
The minimum credit score increased to 680 from 600, for at least one borrower
Buyers can no longer borrow money for a down payment (does not include family gifts)
Gross Debt-Service ratio decreased to 35 from 39 per cent (lowers affordability)
Total Debt-Service ratio decreased to 42 from 44 per cent (lowers affordability)
Multi-unit mortgage insurance refinancing is suspended (unless funds are used for repairs or reinvestment in the property)
Who could be affected?
These new rules have the potential to cut the purchasing power of many Canadian homebuyers as it decreases their overall housing affordability. At face value, we can expect this to impact first-time buyers the most, as they’re more likely to make down payments of less than 20 per cent, as well as buy a home close to their maximum affordability.
Some may not be affected at all
The mortgage rules technically only apply to lenders who use CMHC as their only insurer. In other words, not every lender (if any) will be following through with these new rules. Genworth MI Canada and Canada Guaranty are two CMHC competitors that have chosen not to adopt these stricter guidelines. So, depending on the lender you’re working with, Canadian buyers may not be impacted at all. In this climate, especially, shopping lenders and finding an unbiased mortgage advisor has never been more important and encouraged.
Changes like this are the exact reason we work with more than 30 banks and lenders at Homewise. Policies and lending guidelines are constantly changing, so having access to multiple lender options ensures that buyers can find the best mortgage for their unique needs.
Recently, we’ve received a lot of questions about how to navigate this situation. Given the many options we have available, we are able to guide our clients to the right lenders so they don’t have to worry about these new CMHC policy changes. Best of all, many top lenders with great features and rates don’t have to abide by this new criteria.
Given that these rules are new, we’re still learning how they can impact Canadian buyers. For the time being, it’s evident there are other avenues for many purchasers to get a great mortgage without being impacted by these new guidelines.
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
A member of Ontario’s Finest Hotels, Inns and Spas group, Viamede Resort is an historic, full-service resort and conference centre with 2,000 feet of magnificent Stoney Lake shoreline. Whether you are planning a family resort vacation, a romantic couple’s getaway or an Ontario weekend escape, Viamede Resort has the perfect lakeside accommodations to suit your needs.
We sell, install, repair and clean all types of shades and blinds. Hunter Douglas, Shade-O-Matic, Elite dealers. Untrasonic cleaning is safe, fast and simple. Blinds will look like new and work better. We also carry wood and Polysatin Shutters.
Space Age Closets and Custom Cabinetry has been serving Toronto and the Greater Toronto Area for over 30 years. Our services include a wide array of custom storage solutions for every room in your home. With decades of experience designing and installing custom closets and cabinets we pledge to provide excellence in service and get the job done right the first time.
Eco Choice Windows & Doors is a leading supplier and installer of quality windows and doors. We have been in business for over 15 years, installing windows and doors for many satisfied customers across the province. Simply put, we supply the best quality products, expertly installed, and built to enhance energy efficiency throughout the home.
Canada Mortgage and Housing Corp. (CMHC) has tightened mortgage regulations slightly in response to deteriorating economic conditions brought on by COVID-19.
Effective July 1, new applications for homeowner transactional and portfolio mortgage insurance would have to meet a minimum credit score of 680 for at least one borrower. In addition, funds borrowed for a down payment that increase indebtedness will no longer be treated as equity for insurance purposes, and Gross/Total Debt Servicing ratios are to be limited to the standard requirements of 35/42.
Vulnerabilities
“COVID-19 has exposed long-standing vulnerabilities in our financial markets, and we must act now to protect the economic futures of Canadians,” says Evan Siddall, CMHC president and CEO. “These actions will protect homebuyers, reduce government and taxpayer risk and support the stability of housing markets while curtailing excessive demand and unsustainable house price growth.”
Job losses, business closures and a drop in immigration are adversely impacting Canada’s housing markets, CMHC says, with potentially a nine- to 18-per-cent decrease in house prices over the next 12 months.
“CMHC’s policy changes come at an interesting time when the housing market finally seems to be getting back on track after a substantial drop in sales during April and May,” Jesse Abrams, co-founder and CEO of Homewise told Condo Life magazine. “These changes will not only make qualifications tougher, pushing up the floor for credit scores to 680, but also decrease the affordability of many buyers who need an insured mortgage by lowering debt to income ratios. Unfortunately, the hardest-hit market may be first-time homebuyers.”
Lesser impact
Another national mortgage insurer, Genworth Canada, says it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements.
“Genworth’s decision to not follow CMHC’s policy changes creates a competitive advantage for them in the marketplace, while reigniting the flame of many prospective homebuyers who were demotivated by CMHC’s decision,” Abrams says. “Most lenders use both CMHC and Genworth, so it is quite possible that the CMHC policy change does not actually affect any homebuyers.”
"We look forward to contributing to the economic growth of Brantford by providing affordable living and a platform to strengthen the foundation of community."
This sleek Quantum tub filler from Tenzo features a recessed hand held shower hose and a 12-in. swivel spout, which is the longest available in the market.
The thought of owning a new home is extremely enticing and exciting. However, the market for new condominiums in the GTA is extremely competitive, and suites sell very fast.
In January 2018, the OFSI mortgage stress test (B-20) was introduced to test a homebuyer's ability to afford their property in the event of an interest rate increase.
A 72-acre site at Lakeshore Road West and Mississauga Road coined Brightwater, a new master-planned community that will bring housing, retail, green and community space to historic Port Credit.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Queen & Ashbridge is the name of a new redevelopment coming to the Queen and Coxwell area of east Toronto. A joint development between Riocan Living and Context, the project has an A-plus location straddling the heighbourhoods of Leslieville and The Beach. The plan includes a 17-storey condo, a 17 storey rental residence and more than 16,000 sq. ft. of retail. qacondos.com
Hot tips for investors
Over the last few months, the pandemic has given way to record-low mortgage rates, making real estate investment more attractive despite economic uncertainty. Cara Hirsch, a veteran real estate investor and leading industry expert behind Hirsch + Associates, believes now is a great time to buy.
Here are her top five tips and tricks for potential purchasers:
Did you know?
Canada's largest design exposition and conference, IDS Toronto (IDS21), will move its annual event to May 13 to 16, 2021 at the Metro Toronto Convention Centre.
New TCDSB school coming to Etobicoke
Cutting-edge classrooms are part of the plan for a brand new Toronto Catholic District School Board elementary school in Etobicoke.
The school will be located on the former Toronto District School Board site of the old Buttonwood Hill school at 100 Allanhurst Dr., in the Royal York Road and Eglinton Avenue area. The Ontario government says it is contributing $15.9 million to the project, creating 88 more childcare spaces in Etobicoke. The new school will accommodate 600 students and is part of the province's commitment to invest $12 billion over 10 years in new and existing schools, more than $500 million this year alone.
1414 Bayview
The sales gallery for Gairloch Developments' new 1414 Bayview condominium is now open at 1416 Bayview Ave.
This eight-storey, midrise project features only 44 suites in total, with a mix of one-, two- and three-bedroom designs.
Located just north of Merton Street on the west side of Bayview Avenue and within walking distance to Bennington Heights and Moore Park, 1414 Bayview sales will be managed by local real estate team The Heaps Estrin Team. Prices start from $650,000.
1414bayview.com
Eglinton Crosstown news
Last month, the Ontario government announced it is extending tunneling work on the Eglinton Crosstown westwards towards Etobicoke and into Mississauga, and opened a Request for Proposals to advance the project.
Premier Doug Ford says the province is working with the Greater Toronto Airport Authority for a connection to Pearson Airport and that Eglinton Avenue would not be closed during the work.
I'm always looking for events and new happenings to explore. Send your tips to: susan.legge@nexthome.ca
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Crystal chandeliers, sconces, mirrors, accent furniture and accessories. Visit our 4,000 sq.ft showroom where we are proud to offer the most knowledgeable and courteous staff in the business. Crystal Design and Decor offers quality and value at reasonable prices while providing individualized attention and customer service. Customization also available to suit requirements and design preference.
The purchase of a house is the largest investment we all make, and the kitchen is the biggest investment in the house. We are here to help you find appliances that make sense, give you great service, and most importantly give you the best price!
Since 1989 Men At Work has specialized in renewing and enlarging older houses in core Toronto neighbourhoods. We are experts in managing the challenges of renovating sensitive old buildings into beautiful, functional, comfortable living spaces.
Saunacore is a world leader in the manufacturing of premium quality sauna and steam bath products. Saunacore manufactures sauna heaters, steam bath generators, far infrared sauna rooms, traditional indoor and outdoor saunas, material liner kits, accessories and much more.
We offer personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets, through our global team of approximately 90,000 Scotiabankers.
Royal Building Products is a leading manufacturer and distributor of a broad range of state-of-the-art exterior building materials for the home remodeling, building and municipal construction markets.
Raising the Roof opens innovative affordable housing project
Raising the Roof, a national homelessness prevention charity, was recently joined by Kyle Seeback, MP for Dufferin-Caledon, Sylvia Jones, MPP for Dufferin-Caledon, and Allan Thompson, Mayor of the Town of Caledon, to celebrate the opening of Cedar Mains, a newly renovated home which will offer affordable housing for people with disabilities at risk of homelessness.
The launch of the new housing project comes in the midst of a national housing crisis, where more than 35,000 people sleep on the streets every night, and people with disabilities are particularly affected.
In the face of this growing concern, Raising the Roof developed an innovative new program, Reside, which acquires vacant or underutilized homes, renovates and converts them into affordable housing. The first home launched through the program is 1 Cedar Mains Dr. (Cedar Mains).
“Every night, thousands of low-income Canadians sleep on the streets, and people with disabilities are particularly vulnerable,” says Marc Soberano, executive director of Raising the Roof.. “With Reside, we acquire under-utilized homes, fix them up, and offer them as affordable housing to people who need them most. In the process, we restore a local community asset, create training and employment opportunities for people facing barriers through the construction work, and create housing for vulnerable members of our community. Cedar Mains is the first of many homes we aim to convert into affordable as we partner to provide solutions to the housing crisis.”
Prior to the redevelopment, 1 Cedar Mains Dr. was an abandoned heritage church. The property hadn’t been utilized in many years. Envisioning more for the site, Raising the Roof approached the Toronto Region Conservation Authority, owner of the property, requesting the opportunity to access the property through a long-term lease.
The TRCA agreed, providing a 20-year lease to Raising the Roof for just $1. The charity then partnered with social enterprise contractor, Building Up, to complete an extensive renovation on the property. Through the construction work, Building Up provided training and employment opportunities for over 90 people facing barriers to employment, more than 85 per cent of whom went on to careers in the trades.
Raising the Roof then brokered an innovative partnership with CAFFI Housing Inc. to serve as the affordable housing provider, identifying suitable candidates for housing. CAFFI is a Caledon-based non-profit organization operated by parents of adult children with disabilities that provides housing solutions for their children and other people with developmental disabilities facing housing vulnerability.
In executing this project, Raising the Roof benefitted from tremendous community support. The project’s funders included the Home Depot Canada Foundation, the Province of Ontario, the Region of Peel, the Town of Caledon, the Town of Vaughan, Royal Bank of Canada Foundation, Hockey Helps the Homeless, the Ontario Trillium Foundation, Caledon Heritage Society, Social Venture Partners, and the Canada Mortgage and Housing Corp.
“Working together with our community partners, The Home Depot Canada is committed to ending youth homelessness and we are so proud to support Raising the Roof with the launch of their new home to support youth that are at risk of homelessness,” says Pam O’Rourke, chair, The Home Depot Canada Foundation and vice-president, merchandising, The Home Depot Canada. “By supporting organizations that provide a safe place to call home and important life-skills programs, we can help bring housing and hope to our most vulnerable youth.”
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
We carry a full line of chain link, wrought iron, farm products, safety and snow fence, p.v.c. products, and accessories. Roma Fence provides a ‘one-stop shop’ carrying concrete products, installation tools, and related fence products geared towards the installation process.
We specialize in the manufacture of a wide variety of high quality, custom made wood cabinet doors and dovetail drawers suited for residential kitchens, closet systems, built-ins and bathroom vanities. We offer over 10,000 unique door design choices since every element of our doors can be customized.
Our experienced in-house design team provides real estate developers, builders and renovators innovative solutions for streamlining and managing décor sales and homebuyer expectations.
Outlook 2020 – 5 things you need to know about real estate this year
Outlook 2020 – it’s a new year and a new decade, and with that come new challenges and opportunities. When it pertains to the housing industry and homebuying, we’ve boiled it down to a handful of items to keep your eye on. Here are five things you really need to understand about real estate – specifically the GTA market.
1 REAL ESTATE IS LOCAL
This is a good place to start, because it’s a simple but important fact that escapes many consumers: Real estate is local. There is no such thing as a Canadian housing market, just as there’s no Canadian traffic or Canadian weather.
Sure, organizations such as the Canadian Real Estate Association (CREA) and Canada Mortgage and Housing Corp. (CMHC) are mandated to analyze what goes on across the country. But what’s most important to you is what’s happening in your market. When you buy a home, you don’t buy a national market. You buy one property, on one street, in one neighbourhood, in one city and region.
If you live in Ontario, why do you care that Alberta’s ongoing oil industry struggles are affecting sales and prices in markets in that province? Or that Vancouver’s affordability challenges are even more serious than those in Toronto?
Forget the national headlines. Examine what’s happening in your market. The same applies to the economy.
Why does this matter? Read on.
2 THE ECONOMY
Globally, geopolitical uncertainty and softening economic growth will mean Canada faces some challenges with export and investment, leaving the heavy lifting to the consumer, according to Craig Wright, senior vice-president and chief economist at RBC.
RBC forecasts the economy to grow about 1.6 per cent in 2020. The unemployment rate remains at fourdecade lows, though may rise to 5.9 per cent in 2020 from 5.7 per cent in 2019. Companies are having difficulty finding skilled workers, leading to stronger wage growth.
Ontario’s real GDP growth is forecast to slow to 1.6 per cent for 2019 and 1.5 per cent in 2020, according to the Conference Board of Canada. Job creation remains strong, with the province adding more than 200,000 new jobs over the first 10 months of 2019, much of them in full-time work.
Ontarians are among the most positive about the economic outlook, according to a recent public opinion survey from the nonprofit Angus Reid Institute, with 22 per cent of respondents indicating they believe the economy will improve. Only residents in Quebec, at 30 per cent, and BC at 23 per cent, are more optimistic. In Alberta, by contrast, 79 per cent of residents expect their economy to deteriorate over the next year.
Keeping in mind what we wrote about real estate – and even the economy – being local, Ontario is looking strong on both counts for 2020.
Craig Wright, RBC
“We continue to see strong employment gains, Ontario is leading Canada in terms of employment growth on a year-over-year basis, and strong population growth,” Wright told Homes Publishing. “So, strong fundamentals supporting it, in a low rate environment.”
The GTA’s robust population growth will continue to drive demand for both ownership and rental housing, Wright says.
Housing markets in Southern Ontario, in fact, led in home price growth last year, and are expected to continue to do so in 2020, according to a new report from ReMax.
“Southern Ontario is witnessing some incredibly strong price appreciation, with many regions still seeing double-digit gains,” says Christopher Alexander, executive vice-president and regional director, ReMax of Ontario-Atlantic Canada. “Thanks to the region’s resilient economy, staggering population growth and relentless development, the 2020 market looks very optimistic.”
Toronto is set to experience a strong housing market this year, thanks to lower unemployment rates, economic growth and improved overall affordability in the GTA. ReMax is forecasting average sale price growth of six per cent, two points higher than the increase from 2018 ($835,422) and 2019 ($880,841).
The Niagara region is also showing strong growth, with average residential sale price increasing almost 13 per cent, from $378,517 in 2018 to $427,487 in 2019. Value-conscious consumers from the GTA are buying in droves, with many choosing to live in the region and commute to Toronto.
3 INTEREST RATES
In its most recent interest rate announcement, the Bank of Canada maintained its target for the influential overnight rate at 1.75 per cent, where it has been since October 2018. Though there is some global uncertainty, the Bank says, the Canadian economy is resilient, citing moderately expanding consumer spending, stronger wage growth and housing investment, increasing population and continuing low mortgage rates.
Many experts foresee mortgage rates holding where they are throughout 2020 – if not declining.
Indeed, James Laird, co-founder of Ratehub Inc. and president of CanWise Financial mortgage brokerage, predicts BoC will cut the overnight rate by a quarter point in the second half of 2020.
In 2019, central banks around the world cut their rates, but Canada was not among them. Facing somewhat slowing economic growth driven by decreased exports and a slightly higher unemployment rate, Canada will follow this trend and cut the overnight rate by 0.25 per cent in the latter half of 2020, Laird says.
“These savings will be passed along to variable rate mortgage holders in the form of a lower prime rate,” Laird says. “Therefore, Canadians who are in a variable rate will see their interest rate drop in the second half of the year.”
The Bank’s rate policy will cause fixed mortgage rates to remain low throughout the year, he adds. This should provide peace of mind to Canadians who have a mortgage up for renewal or those who have plans to purchase a new home in 2020.
4 GOVERNMENT INVOLVEMENT
The Canadian Home Builders’ Association, Ontario Home Builders’ Association, Building Industry and Land Development Association, Toronto Real Estate Board – and other relevant industry bodies – are all lobbying hard for the various levels of government to address the issues facing housing. Ranging from the First-Time Home Buyers’ Incentive Program, the mortgage stress test or land-use policies that affect the level of homebuilding – and therefore buying – one thing is clear: Federal, provincial and municipal levels of government are listening.
(Many of the executives in our Outlook 2020 Q&As in the following pages touch on these issues, and we’ll have another related special feature in our February issue.)
At least one major source says governments have little choice but to take action. The Real Estate Investment Network (REIN), a real estate investment education, analysis and research firm, cites increasing immigration as the catalyst for change.
“An increase in the influx of migrants amounting to over one million people in three years is tantamount to increasing rental demand,” says Jennifer Hunt, vice-president of research at REIN. “This is good news for rental housing providers, as migrants have higher tendencies to rent property rather than to purchase their own homes, especially within the first four years of settling in Canada.”
Once settled and secure in employment, however, many of these new Canadians want to become homeowners, which leads to higher demand for housing, including new homes and condos.
5 FTHBI & THE STRESS TEST
The First-Time Home Buyer Incentive is a shared equity mortgage through CMHC. The program is intended to reduce monthly mortgage payments for first-time homebuyers, without increasing the amount they need to save for a down payment.
Though some recent adjustments to the program, including raised purchase limits for high-priced markets such as Toronto and Vancouver, have helped, some are calling for further improvements to the plan.
REIN, for one, suggests watching for a potential increase of the FTHBI’s purchase price limit to nearly $800,000 in high-priced markets.
Ratehub is not convinced, expecting that the FTHBI will not be enhanced, and the existing program will see minimal traction.
“Less than five per cent of Canadians who are eligible for the FTBHI program will elect to use it,” says Laird. “Most Canadians do not want the government to own part of their home.”
REIN and Laird agree the mortgage stress test, which many in the industry have been calling to be changed, will likely remain unchanged.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Making a grand entrance, is what Unitech Exterior Doors is all about. From the initial drawing to final installation, Unitech Exterior Doors sets the standard in Fiberglass Front Door Entry Systems. Here you will find elegance, durability, style, technology and good old fashioned value.
For more than 25 years Ontario based Wood Mood has served customers seeking wood flooring in the Toronto, North York, Thornhill, Richmond Hill, Woodbridge and Etobicoke areas, and has helped them with all aspects of their hardwood flooring. We sell and install new wood flooring and refinish existing floors and stairs, using water based environmentally responsible finishes.
Quality protection for your fine furniture. We welcome the opportunity to preserve your furniture and look forward to serving you in all of your table pad and accessory needs.
Amercraft specializes in living room radiators, bathroom radiators, bedroom radiators, towel warmers, and heated towel rails in a wide range of colours and styles to fit your home. Whether you are thinking of remodeling or new construction, our collection of Residential Radiators and Towel Warmers will reflect any lifestyle.
Federal government releases details on homebuyer incentive programs unveiled in Budget 2019
The federal government has released the details of the first-time homebuyer incentive programs promised in March in the 2019 budget.
Beginning Sept. 2, 2019, the First-Time Home Buyer Incentive will help middle class families take their first steps towards homeownership by reducing monthly mortgage payments required for first-time homebuyers, without increasing the amount they need to save for a down payment. This program complements other measures taken in Budget 2019 to support first time homebuyers with their down payment such as increased RRSP withdrawal limit from $25,000 to $30,000 The government has allocated $1.25 billion over three years for the program. The incentive will be available to first-time homebuyers with qualified annual household incomes up to $120,000.
Budget 2019 also previewed the Shared Equity Mortgage Provider Fund, a five-year, $100-million lending fund to assist providers of shared equity mortgages to help eligible Canadians achieve affordable homeownership. This will support an alternative homeownership model targeted at first-time homebuyers, help attract new providers of shared equity mortgages and encourage additional housing supply. The fund will launch on July 31, 2019, and will be administered by CMHC.
“Through the National Housing Strategy, more middle-class Canadians – and people working hard to join it – will find safe, accessible and affordable homes,” says Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for CMHC.“Our proposed measures will reduce the monthly mortgage for your first home by up to $286. This will mean more money in the pockets of Canadians and will help up to an estimated 100,000 families across Canada.”
First-Time Homebuyer Incentive facts
Canada’s First-Time Home Buyer Incentive will help qualified first-time homebuyers purchase their first home as the incentive reduces their monthly mortgage payment, without increasing the amount that they must save for a down payment. The program will launch on Sept. 2, 2019, with the first closing on Nov. 1, 2019.
The incentive will allow eligible first-time homebuyers who have the minimum down payment for an insured mortgage with CMHC, Genworth or Canada Guaranty, to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada.
For the purchase of an existing home, an incentive amount of five per cent may be available. For the purchase of a newly constructed home, an incentive amount of five or 10 per cent may be available.
Doubling the incentive for purchasers of new homes encourages new housing supply.
No on-going repayments are required, the incentive is not interest bearing and the borrower can repay the incentive at any time without a pre-payment penalty.
The buyer must repay the incentive after 25 years, or if the property is sold.
These details confirm that the First-Time Home Buyer Incentive program will be an ownership stake in the property of qualified homebuyers, whereby the government will participate in appreciation of the property and – in the case of the property devaluing – depreciation as well.
“The key issue remains qualifying, and this program diminishes the amount that a first-time homebuyer can qualify for by about 15 to 20 per cent,” says James Laird, co-founder of Ratehub Inc. and president of CanWise Financial. “This is because the program limits the mortgage amount to four times the households’ income, whereas those not participating in the program can actually qualify for a mortgage that is 4.5 to 4.7 times their income. Household income for qualified homebuyers is also capped at $120,000.”
Those who would be attracted to the program would be Canadians who are trying to purchase at their maximum qualification, Laird adds. “However, because the program diminishes how much they can qualify for, it doesn’t serve the needs of the group it is targeted at. Canadians can get a larger loan by not participating in the program.”
Maximum affordability calculations
A household with $100,000 of income, putting a minimum down payment of five per cent, can currently qualify for a home valued at $479,888 with a $2,265 monthly mortgage payment.
The maximum purchase price for the same household, if they participate in the First-Time Home Buyer Incentive program, drops to $404,858 with a five-per-cent minimum down payment. The total mortgage amount would then be $400,000 (or four times their household income).
If the household took a five-pre-cent incentive from the government (for resales), their mortgage amount goes to $378,947, and monthly payment is now $1,810.
If the household took a 10-per-cent incentive from the government (for new homes) their mortgage amount goes to $357,894 and monthly payment is now $1,710.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. Euro-Line Appliances are proud distributors of products from AEG, LIEBHERR, PORTER&CHARLES, SMEG, and FRANKE in Canada.
Napoleon proudly manufactures award winning, high efficiency hearth products, gourmet grills & HVAC products ... all offering a multitude of designer choices to suit any lifestyle!
Thermador has been providing real innovations for real cooks for more than 75 years. The iconic line of cooking, cleaning, refrigeration and ventilation products remains committed to empowering culinary enthusiasts to be their best through continuous innovation breakthroughs. Thermador is part of BSH Home Appliances Corporation, a fully-owned subsidiary of Bosch and Siemens Home Appliance Group.
First-time homebuyers catch a break with slowing home price growth
We have some good news and we have some bad news, prospective homebuyers in Canada.
First, the bad news: According to the latest Royal LePage House Price Survey, home price growth in many of Canada’s real estate markets is slowing. This means, if you’re looking to buy a home, its value may not grow as much as it has recently. The good news, however, is that this same slowing price growth presents a window of opportunity for first-time homebuyers to get while you can.
The price of a home in Canada increased just 2.7 per cent year-over-year to $621,575 in the first quarter of 2019, Royal LePage says, well below the long-term norm of approximately five per cent. When broken out by housing type, the median price of a two-storey home rose 2.6 per cent year-over-year to $729,553, while the median price of a bungalow rose 1.1 per cent to $513,497. Condominiums remained the fastest growing housing type, rising 5.4 per cent year-over-year to $447,260.
Looking ahead to the second quarter, Royal LePage expects national home prices to stay relatively flat throughout the 2019 spring market, with the national aggregate price of a home increasing just one per cent over the next three months. Meanwhile, the housing markets in several larger Canadian cities have shown noticeable signs of slowing, with nearly half of the regions in Royal LePage’s Quarterly Forecast anticipating quarter-over-quarter price declines.
But these are national numbers, and as we’ve written before, there really is no such thing as a Canadian housing market.
But more on this later.
Silver lining
Early in 2018, Canada experienced the most significant housing correction since the 2008 financial crisis. Markets showed signs of recovery late in the year, yet the figures for early 2019 suggest that the market has once again slowed.
We are expecting this to be a sluggish year overall in Canada’s residential real estate market, with the hangover from the 2018 market correction and weaker economic growth acting as a drag on home price appreciation, balanced by lower for longer interest rates,” says Phil Soper, president and CEO, Royal LePage. “There is a silver lining here. This slowdown gives buyers, and first-time buyers in particular, an opportunity to buy real estate in our country’s largest cities.”
In the federal budget tabled by Finance Minister Bill Morneau in March, the Canadian government announced three new or enhanced housing programs. The First-Time Home Buyer Incentive is a three-year, $1.25-billion shared equity mortgage program whereby Canada Mortgage and Housing Corp. (CMHC) will co-invest up to five per cent of the purchase price of an existing home. Further, for the first time in a decade, there was an increase in the registered retirement savings plan withdrawal limits in the Home Buyers Plan. The increase, from $25,000 to $35,000, was the largest since the program’s inception in 1992. Finally, an additional $10 billion in financing over nine years was earmarked for the construction of purpose-built rental housing.
Real estate is local
Illustrating our point that real estate is local and not national, the GTA housing market is still showing healthy growth.
“The city of Toronto is still one of Canada’s fastest appreciating real estate markets,” says Soper. “Detached home prices are rising in line with inflation, but condominium prices are increasing at near double-digit levels as vertical living has become the primary new-build option in this growing, world-class city.”
Median home prices in Toronto rose 5.8 per cent year-over-year in the first quarter of 2019. Two-storey home prices and bungalow home prices rose 4.8 per cent and 2.5 per cent year-over-year, respectively, while condo prices rose 9.3 per cent year-over-year. The overall GTA’s aggregate home price rose 3.4 per cent over the same period.
Real estate values in Ontario’s Greater Golden Horseshoe region continued to appreciate at a brisk clip, as local economies grew and workers from the GTA looked to trade commuting time for lower house prices. Niagara-St. Catharines, Hamilton and Kitchener-Waterloo-Cambridge aggregate prices were up by 6.9 per cent, 6.3 per cent and 8.9 per cent, respectively.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
For over three decades, the Goodman brand has concentrated on something more important than simple brand-recognition consumer advertising. Since 1982, we've focused on helping millions and millions of homeowners achieve reliable, high-quality and affordable indoor comfort with products that continue to be designed, engineered and assembled in the U.S.A.
The BLU GENES Foundation began because of a personal mission to find a cure for a rare and fatal genetic disorders called Tay-Sachs disease. But we quickly recognized a greater need. Many families are dealing with the impact of having a loved one who is affected by a rare genetic disorder.
Omega Kitchen Hoods: Specializing in Precast Range Hoods. Omega stone cast hoods are manufactured in a multitude of custom finishes including metallic offerings like copper, pewter and stainless steel, each one created with precision and durability. From inspiration to installation... With Omega Mantels & Mouldings.
Exclusive Tours specializes in Unique, Best in Class, Small Ship Cruising. Our Expertise, Knowledge and Vision provide you with the best Selection, Quality and Value. Proudly Canadian – we offer a truly comprehensive selection of exceptional small ship cruises.
Homes in Canada are expensive. In the outlying GTA, the average price of a condo is over $600,000—a single detached home is approaching $1 million ($914,000 in October of 2018) and a staggering $1.31 million for the same product in Toronto proper. With the time and financial costs required to commute, which CMHC estimates at an average of between $400 and $800 per month—the perceived savings of living in a bedroom community and travelling into the core for work is seeming less of an ideal plan—especially when you factor in our weather and gridlock woes that are only worsening with intensification. One way to help bridge the gap, or help transition from condo living to a low-rise product, is to subsidize oneself by renting out a secondary suite within the building, or even outside of it, with the new option of laneway housing. In order to service the $311,000 to $386,000 of additional mortgage, you would hypothetically require to upgrade from a condo to a house, or to move from the suburbs into the city, you would need to add roughly $1,500 to $1,900 extra per month to cover it. No small amount, I know.
CAPTION: Before (Photography by Eurodale Development Inc.)
CAPTION: After (Photography by Andrew Snow)
CAPTION: After (Photography by Andrew Snow)
Rent on the rise
Coincidentally, the average rental amount for a one-bedroom apartment in the city of Toronto has also been climbing, and now sits at $2,200 in the core, and $1,200 in the outer lying GTA. If you look at those numbers, they start to offset each other, in some instances, creating a cash-flow-positive position. This means, for a bit of legwork, creating or finding a home with a secondary suite could be your ticket to upgrading your living situation by either transitioning from a condo to a singlefamily home, or by reducing or eliminating your commute. Does the thought of becoming a landlady or landlord sound good to you? Read on.
Before you sign the lease
Secondary suites or dwellings are permitted As-of-Right via provincial legislation in Ontario. Every municipality has their own governing rules that you want to familiarize yourself with—here are some of the keys.
A permit is required to create one, and is only allowed in a building aged five years or older. If an existing unit, Municipal Licenses & Standards, Fire and Electrical Safety Authority must have signed off for it to be legal. Minimum ceiling height 6’5″ for at least 50 per cent of the area, with at least 97 sq.ft. of space per occupant, so the space doesn’t have to be huge.
Fire egress (to escape) and firefighter access (to enter to save you) are generally 3.8 sq.ft. and 1.0m clear respectively, with some fine print nuances that are important.
Fifteen to 30 minute fire separation and a Sound Transmission Rating minimum of 50 must be achieved for safety and privacy. Interconnected smoke alarms with the main dwelling unit are also a must for optimal safety and the lower separation. Sprinklers are the best, but carry a high upfront cost.
The unit must be smaller than the main dwelling, and if there is parking, the accessory dwelling must also have parking, except in the case of a laneway house, which negates all needs for parking at the property completely, other than for a pair of bicycles.
CAPTION: Before (Photography by Eurodale Development Inc.)
CAPTION: After (Photography by Andrew Snow)
Landlord training
Once you have a compliant unit, you then need to learn the ropes when it comes to being a landlord. First, advise your insurer in writing of the tenancy. Second, read the new Ontario standardized residential lease and develop your own set of individual lease terms to insert under section 15 to protect yourself and the property, and ultimately help govern the relationship. Spell out rules around guests, smoking, parking, access to and/or maintenance of the grounds,and utility splits, so it is clear and concise. Then, when selecting your tenants: Exercise caution. It’s one thing to rent a unit to a tenant, it can be altogether different to rent a space connected to your personal home to someone. Familiarize yourself with the laws and rights of the parties, which will rule your new business relationship. The website landlordselfhelp.com has great videos and podcasts that cover many potential hurdles you could face.
Know the rules
Thinking short-term rental such as Airbnb, VRBO, and the like? Not so fast! Many municipalities are working through by-law changes to restrict them, as in Toronto where the new bylaw is still under appeal, but can have large implications on the compliance and viability of your unit as a legal, short-term option. Setting up furnished, vacation-type rentals can be costly; therefore, you want to be sure you don’t get shut down if you are not fully compliant after having spent thousands of dollars on furniture, artwork, and supplies.
The payoff
Setting up a secondary suite has huge benefits to help pay down a mortgage. It also allows you to afford a better home, or a home in a better area, increase income, and pay increased dividends at the time of a sale. It can also be a lot of work, and as with anything, what you put into it, you will get out of it. The more seriously you take this business venture, the smoother it will run, and the better the yield will be for you in the end.
When planning your own secondary suite, remember there is real value in working with a professional to design and build the space. We recommend you start your search at the relevant professional associations to explore your options, including BILD & RenoMark—the home of the professional builder and renovator, to find the true industry professionals to help guide you to success.
Happy renting my Lady, my Lord.
Brendan Charters is Partner at Toronto Design-Build Firm Eurodale Developments Inc. – 2017 OHBA Renovator of the Year.
Sonopan soundproofing panels with NoiseStop Technology are the ideal solution for preventing unwanted noise from travelling through walls and ceilings.
Siblings Billy and Carolyn are a professional renovation team that reclaims and restores farmhouses. Watch their new show, Farmhouse Facelift, on HGTV Canada beginning March 3 at 10 p.m.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
ROCKWOOL insulation is the sustainable way to make an impact on the challenges of climate change, urbanisation, improving people’s health and quality of life, and resource scarcity.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Add some spice with a patterned tile, maybe a mini-mosaic or even bold geometric design. Play with the application, why not bring them from the floor to the wall to create a full-on moment. Make sure you grab samples so you can try out some interesting patterns and configurations. Make it unique. A smaller space requires less product, so even if you're designing something one of a kind, it likely won't cost you an arm and a leg.
Wallpaper
Wallpaper is amazing with a capital A when it comes to creating a wham, bam, pop or pow in your small space. Our design firm believes you can never go wrong with a bold floral wallpaper. There are thousands out there to choose from. Try to think of some of the things you like the most, such as colour, style, pattern, material or texture, before you start to look for your perfect wall covering. You don't want to get sucked down the wallpaper rabbit hole. Trust us when we say you will blink and it will be four hours later, you won't know where you are, what your name is, or what you're having for dinner. Consider this a friendly warning!
Paint
Splash that colour! If you have a pint-sized space, why not use it as an opportunity to splash a beautiful colour that makes your heart happy. We love to incorporate pops of colour on cabinetry, walls and even ceilings. Paint is the quickest and most cost-effective way to transform any space. Don't be afraid of dark colours in small spaces – they can make a teeny-tiny space look even bigger, as long as there is contrast.
Wall decor
Don't forget the earrings, and by earrings, we mean wall decor. Think of it like this: You aren't going to get all dressed up but not put on earrings. They're a must! Wall decor is important; however, in a small space, you have to be mindful of the scale of the piece you are putting up. Try using large white matting and a thin metal frame to keep your art piece simple, updated and stylish.
Lighting
This may seem like an obvious tip, but sometimes it's overlooked. Make sure you are choosing lighting that will appropriately illuminate your space. Try to allow multi-layered lighting; we find that in smaller spaces, there are sometimes more shadow spots. Focus on how your room functions for you; keep in mind task, ambient and decorative lighting can all be used to create an amazing lighting scheme.
Don't be afraid to take a few risks in a small space. More than likely you will be rewarded with a special little spot that packs a punch! Make it beautiful and make it yours.
*****
SOURCE: CONTRACTING AND MILLWORK by Hartley Built. Hartleybuilt.com | PAINT: FIRST LIGHT (pink), CHANTILLY lace (white), VINTAGE VOGUE (darker green), Hollingworth GREEN (light green) by Benjamin Moore. benjaminmoore.ca | FURNITURE by Article. article.com | DRAPERY AND ROMAN BLINDS, custom design | FAUCETS by Delta. delta.ca | LIGHTING by Kuzco. kuzcolighting.com | LIGHTING by Matteo. lightingcanada.com
Award-winning Designer Michelle Berwick is the Principal & Creative Founder of Michelle Berwick Design. This notable GTA firm has become sought after for providing livable, stylish and uniquely personal interiors.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
We offer personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets, through our global team of approximately 90,000 Scotiabankers.
Over the past 14 years Factory Tile Depot has become #1 for everything tile and stone. With 5 locations showcasing the latest and greatest trends in the tile industry, we have built the confidence of trade and retail clients alike. We are proud to offer well thought out showrooms, extensive selections of hard to find tile-stone, on site designers, and some of the best after care support in the industry. Experience the FTD difference on your next project.
With much of 2018 in the rear-view mirror, It’s been quite the year for the housing market in the GTA and elsewhere in Ontario. From sales and price fluctuations to supply concerns to rising housing costs. As 2019 approaches, here are five things we can learn from real estate in 2018.
1 Get used to the affordability issue
Get used to affordability challenges, especially in the GTA. This oft-cited issue is not going away any time soon, despite lobbying from the likes of the Building Industry and Land Development Association (BILD) and the Toronto Real Estate Board (TREB).
Key economic fundamentals such as population and employment growth will continue to drive housing market demand. Over the next decade, almost 700,000 first-time buyers will target the GTA or Hamilton markets, according to a report from the Ontario Real Estate Association. Meanwhile, the supply of new homes is not yet being addressed, which contributes to rising prices.
With recent interest rate hikes and other changes, sales and prices in the GTA saw some moderation in 2018. But this will be short-lived, and a return to price growth is expected.
2 Increased government involvement – finally
Government lobbying by BILD and TREB seems to be paying off, in the sense that the Province is increasingly aware of the issues facing the industry – and buyers.
Buyers, you may not realize it, but you should thank BILD, TREB and other associations for that.
In late November, Ontario announced it was committing to a housing action plan “to help create more housing faster, give people more choice and bring down housing costs.”
Like anything involving government, though, this process will likely be slow moving – meaning, some of the challenges, namely increasing housing supply – will take time to be resolved.
But at least the issues are on the agenda.
One real example of this improved awareness is Ontario’s recent plan to change the 40-year-old apprenticeship system in the province – a move the home building industry says is a “game changer.”
It’s a game changer because the new one-to-one ratio, a significant change from the existing 3-to-1 ratio, will enable home builders and renovators to more easily hire and train new apprentices. Besides creating more job opportunities for trades workers, the move also helps builders and renovators operate their businesses
3 Fixing on interest rates
The Bank of Canada raised its overnight rate three times in 2018 – January, July and October – to where it sits now, 1.75 per cent.
Canada’s major banks, as is usually the case, responded by immediately raising their own rates.
Naturally, all of this has Canadians feeling a little uneasy.
The Conference Board of Canada’s latest Index of Consumer Confidence confirms that rising interest rates and weaker wage growth have started to take their toll on confidence. With interest charges squeezing Canadian wallets and weakening wage growth offering little reprieve, consumers have become hesitant to make major purchases and are less positive about the state of their finances.
In its latest rate announcement on Dec. 5, the Bank of Canada noted that global economic expansion is slowing, and the effects of the “oil price shock” are being monitored.
“We expect that the Bank will not move the overnight rate until the effects of the declining energy sector are known,”according to interest rate comparison website ratehub.ca. “However, the Bank makes it clear that they still plan on raising the key interest rate in 2019, likely more than once.”
This moderated stance might put downward pressure on fixed rate mortgages, however, so Canadians may see better fixed rates in the coming weeks, ratehub.ca says.
4 Real estate is more local than ever
It’s a simple point that escapes some consumers: Real estate is local, and in 2018, it became more local than ever.
What do we mean?
Well, the Canadian Real Estate Association (CREA), Canada Mortgage and Housing Corp. (CMHC) and other major real estate bodies are mandated to oversee the national market.
So, when CREA issues a release that says Canadian home sales are down by X per cent, or when CMHC reports the national vacancy rate is down for the second consecutive year – and major media report such headlines – people tend to worry.
It’s essential to remember, however, that when you buy a home, you don’t buy the national market. You buy one house, on one street, in one neighbourhood, in one city and region.
If you live in Ontario, why do you care that Alberta’s ongoing oil industry struggles are pulling sales and prices down in markets in that province? Or that prices in Vancouver are even less affordable than in Toronto?
Forget the national headlines. Drill down into what’s happening in your market.
And why is real estate more local then ever? Because…
5 Lessons from Oshawa
General Motors Canada’s November announcement that it was closing its Oshawa assembly plant sent shockwaves not just through the province but all of Canada. To be sure, the loss of at least 2,500 jobs – not to mention untold positions in related suppliers – in a community of 170,000, is going to hurt. Hurt whom, and how badly, are the only questions.
This development should serve as a stark reminder to us all – of how important it is for cities to develop diversified, modern economies. Overdependence on any one ge, singular industries leads to overexposure in the case of downturns or, in GM’s case, outright shutdowns. It hurts the local economy, which impacts employment and wage growth, which impacts the housing market.
Oshawa, thankfully in recent years, has been diversifying its economy and expanding in technology, education and other industries. It will help, but the impact of the GM closure will likely play out over many months, if not years.
These developments could push housing in Oshawa into a buyers’ market, and prospective buyers could benefit from more options and softening prices.
In new homes, builders remain undeterred, encouraged by the longer-term growth and development throughout the Durham Region. Still, some may offer incentives such as discounts or inclusions to entice qualified buyers.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB). And in the condominium segment, despite more balanced market conditions, year-over-year price growth remained in the high single digits.
Sales recorded a 29.5-per-cent increase over July 2019 – a new record for the month of July, TRREB reports. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 2020.
"Sales activity was extremely strong for the first full month of summer," says TRREB President Lisa Patel. "Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings."
"Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June," adds Jason Mercer, TRREB's chief market analyst. "On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark."
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
BONE Structure has designed and patented a structural steel frame and insulation system that is the best integrator to build Net-Zero Energy custom homes. Using an integrated process inspired by the aerospace industry, we design and build high-performance, sustainable homes.
At The Brand Factory, we combine the strategic approach of consultancy with a world-class creative agency, and back it with end-to-end, full-service digital capabilities under one roof.
Maroon Decor is an organization established in 2005 in Toronto. ON specialized in the Interior & Exterior designing & implementation needs & requirements for different levels of the clients, retail wise & projects wise.
At The Condo Store, we are passionate about delivering exceptional consumer experiences. By offering a complete suite of real estate services, we ensure that we meet our consumers’ every need. From sales and rentals, to mortgage, new developments and property management services through our strategic alliance program with First Service Residential (FSR), we have experts in every field to guide you skillfully from beginning to the end of your real estate journey.
Affordability is a challenge: The prices of condos have been rising
The prices of condos, which used to offer homebuyers a more affordable choice, have been rising, reducing the advantage of this option.
Every fall, BILD invites experts on economics and housing to join us for breakfast and speak to our members about what the GTA housing market will look like in the coming year. This fall was no exception and I was heartened by much of what I heard about current and future trends from Patricia Arsenault of Altus Group and Dana Senagama of the Canada Mortgage and Housing Corporation (CMHC). I also saw we have much left to do around housing supply and affordability in our region.
There’s no doubt we have a lot to look forward to in the GTA. Economic conditions are expected to be solid in the short term, with the employment growth rate projected to be 1.8 per cent in 2019, according to Arsenault, who is Altus Group’s executive vice president, data solutions. More GTA households than last year are planning renovations of over $5,000 in the next year, and the percentage of GTA households that currently rent but plan to buy a home in the next year has rebounded after softening last summer, according to Altus Group’s survey.
But these survey results only indicate what homeowners and potential new homebuyers intend to do, not what they are ultimately able to do, and Arsenault noted that households may take longer to save for that first home in the face of new mortgage hurdles and housing affordability challenges. The prices of condo apartments, which used to offer potential homebuyers a more affordable choice than single-family homes, have been rising, reducing the advantage of this option. In September, the benchmark price of new condo apartments was $789,643 and the benchmark price of new single-family homes at $1,119,533.
Despite rapid price gains in both ownership and rental markets, the supply response has been weak or inelastic, said Senagama, who is CMHC’s manager of market analysis. That means our housing supply is not rising in response to increased demand for housing and the corresponding increase in the prices of homes, as the law of supply and demand would lead us to expect. In fact, Senagama showed that Toronto is one of the markets in Canada that are not at the risk of overbuilding.
I was not surprised to hear this. BILD has consistently delivered the same message. We have said that we are not building enough housing to accommodate the 115,000 new residents who are arriving in our region every year. We should be building 50,000 homes every year, and last year we only built 38,000. A big reason for this supply shortfall is the lengthy development process that housing projects face in the GTA, slowed down by outdated regulation and red tape.
We should be updating zoning bylaws and official plans and streamlining the list of conditions for municipal approvals, so that we can build the housing our growing region needs. Only then will potential homebuyers be able to afford to make their dream of owning a home a reality.
Tell us about your favourite pastimes and activities and how they have or will be impacted by trying to maintain social distance and protect the health of the most vulnerable.
Contractors who suddenly find themselves with some extra time on their hands as a result of Coronavirus slowdowns and shutdowns can take advantage of their downtime to learn some new skills.
Competition in the homebuilding and renovation industry is fierce, which means that growing your construction business requires a strong marketing and branding strategy.
Habitat for Humanity's ReStores are a win-win-win: countless new or "gently used" items donated to the charitable organization have been kept out of landfills
A new policy coming from the Canadian Commission on Building and Fire Codes on "Alterations to Existing Buildings," which could spell new requirements for renovations to existing homes.
MuraLuxe decorative wall panels are quick and easy to install. Gives any project the "wow" factor and keeps your project moving quickly as shower installs can be completed in a day!
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
SET A BOLD TONE
Caesarstone is launching a new collection featuring four new colours for 2020. The Dark Collection embraces a contemporary trend in kitchens and bathrooms that has recently set a bold tone. From the classic luxury of Empira Black to the matte infinity of Piatto Black via the evocative patinas of rusted Oxidian and weathered Black Tempal, this dark collection presents an intriguing range of captivating hues that bring warmth to the home and an emotional caress to the stone. Shown here, Oxidian.
CAESARSTONE CANADA
DELTA PENDANT RAINCAN SHOWERHEAD
The Delta Pendant Raincan Showerhead with H2Okinetic Technology and LED lighting creates a soothing ambience and radiates upscale appeal in the bathroom. With a contemporary style, the pendant showerhead establishes a distinctive presence with modern technology to evoke a tranquil, spa-like experience.
MASCO CANADADELTA FAUCET CANADA
ADD A LAUNDRY ROOM WHEREVER YOU WANT!
The Saniswift 1/2-HP pump discharges greywater without the use of below-ground pump systems. It will pump up to 14' vertically and/or 140' horizontally (with gravity fall) and features low inlets for easy fixture connection, such as to a P-trap. This compact drain pump is designed to fit directly under a laundry tub and is a cost-effective solution for creating a remote laundry room or for greywater installations.
SANIFLO CANADA
UNIQUELY INNOVATIVE!
MuraLuxe decorative wall panels are quick and easy to install. Choose from thousands of images, patterns and finishes to customize these light-weight, water-proof, made-to-order panels that can be used as shower walls, backsplashes, full wall coverings or even eye-catching feature walls. Gives any project the "wow" factor and keeps your project moving quickly as shower installs can be completed in a day! On display and available only through watercloset.ca.
WATER CLOSET
EFFICIENT and VERSATILE
Fusion Stone's thin stone veneer is an efficient and versatile solution that is of significant appeal to contractors and builders. The benefits of Fusion Stone include easy scheduling, no jobsite congestion, and minimal waste. With several profile styles that are available in multiple colour choices, Fusion Stone has proven to be a highly satisfying way to upgrade any home or business.
FUSION STONE
REVOLUTIONIZING MATERIAL PROCUREMENT
RenoRun is revolutionizing material procurement for professional builders with its turnkey technology plus delivery service. As market leaders, RenoRun is the fastest-growing materials supplier, housing more than 20,000 SKUs in its app and delivering to thousands of jobsites on-demand or in advance. Free coffee included; Saturday delivery available!
RENORUN
EIR INTELLIGENT TOILET
The Eir intelligent toilet exemplifies the art of innovation, and its flowing lines and personalized finish detail will make a statement in any bathroom. With a full complement of convenient features including heated seat, customizable cleansing, night-light, hands-free opening/closing, automatic flush, plus a touchscreen remote, nothing else compares. And the sleek tankless and skirted design combined with a back-to-wall installation allows for concealed connections to make the toilet a beautiful centerpiece.
KOHLER
DELIVERING VALUE
Procore's comprehensive platform helps eliminate manual processes and outdated systems, saving you time, money, and headaches. With a robust toolset – complete with financial, productivity, quality, and safety tools – Procore helps you drive production and profitability. Plus, with more than 100 third-party integrations, it helps standardize processes while offering the flexibility you need to be successful.
PROCORE
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
ROCKWOOL insulation is the sustainable way to make an impact on the challenges of climate change, urbanisation, improving people’s health and quality of life, and resource scarcity.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Kakoz Kitchens & Custom Cabinetry is a family owned business with years of experience in kitchen design including creation, installation and remodeling.
Custom window covering products made in Canada for commercial, residental and automated shading applications. Dealer distribution across Canada – contact us to become a dealer. TRADE ONLY.
At LATITUDE, we give you peace of mind. We provide quotes promptly and we offer an 8 - 10 business day turnaround from template to fabrication on residential projects.
Let Tapestry Decor Bring your ideas to Life!!! From Custom Drapery to full Interior Renovations, we cover all your needs from A to Z. Tapestry Decor is a distinctive establishment offering Full Interior Design and Decor services.
cobistyle is an attitude about home and lifestyle. When I started cobistyle, I made a promise that I would never add to the marketplace more of the same. I believe your home should reflect your own unique character and make you happy. In order to do that, we need choices to fall in love with! Surround yourself with beauty every day and bring your home to life!
Canadian housing market to moderate in 2019 but growth to continue in Ontario and Toronto
By Wayne Karl
Canada’s housing market should see a moderation in both housing starts and sales, while home prices are expected to reach levels that are more in line with economic fundamentals such as income, job and population growth. This forecast for 2019 and 2020 is drawn from the 2018 Housing Market Outlookfrom the Canada Mortgage and Housing Corp. (CMHC).
Source: CMHC Housing Market Outlook
Nationally, CMHC’s outlook for 2019 projects total housing starts to edge down and range between 193,700 to 204,500, with the downward trend expected for both single and multi-unit starts. MLS sales are expected to be between 478,400 and 497,400 units annually while MLS prices should lie between $501,400 and $521,600.
“Our key takeaway from this year’s outlook is moderation in Canada’s housing markets for 2019 into 2020,” says Bob Dugan, chief economist, CMHC. “Housing starts are expected to decline from the higher levels we’ve seen recently. We expect resales in 2019 and 2020 to remain below recent peaks while prices should reach levels that are more in line with economic fundamentals such as income, job and populations growth.”
Ontario recovery
After dampened market activity in 2018, existing home sales and housing starts in Ontario, particularly in single-family homes, will post a partial recovery in 2019. Buyers are expected to re-enter the market on the strength of stronger than expected job growth and in-migration, before the downward trend in starts and sales resumes in 2020.
Source: CMHC Housing Market Outlook
GTA growth
With balanced conditions prevailing in the GTA, CMHC expects moderate sales growth and home prices growing in line with inflation. The rising costs of homeownership will result in strong rental demand, while new supply will add some upward pressure on vacancy rates. Toronto buyers should see more housing choices as builders concentrate their efforts on new highrise projects.
OTHER REGIONAL HIGHLIGHTS
BRITISH COLUMBIA Housing starts activity and MLS sales in BC should moderate, as economic and population growth slows while MLS average prices are expected to see a flatter growth profile through 2020.
Vancouver Over the next two years, Metro Vancouver’s resale market will see lower sales, higher inventories of homes for sale and lower home prices compared with recent market highs. Through 2018, demand and home prices softened across all market segments and local geographies.
PRAIRIES Buyers’ market conditions in Alberta and Saskatchewan should gradually shift to a balanced market with gradual improvement in economic and demographic fundamentals. Balanced market conditions in Manitoba are expected to continue.
Calgary Various factors will push and pull the demand for housing in Calgary in 2019 and 2020. Calgary’s economy will experience stronger growth in population and employment. This will help support demand and lift sales in 2019 and 2020. However, the average MLS price will continue to face downward pressure but is expected to stabilize in 2019 and modestly rise in 2020.
QUEBEC Housing starts and sales of existing homes will both be sustained, however, slower economic growth and rising borrowing costs will moderate activity through 2020. Starts will continue to be dominated by the apartment market segment, while demand for resale single-detached homes will remain relatively strong.
Montreal In 2018 and 2019, rental housing demand will increase slightly faster than supply in Montreal, which will put some downward pressure on the vacancy rate. Demand will be supported by rising net migration over the forecast horizon.
ATLANTIC CANADA The Atlantic region will see sustained activity, notably in Nova Scotia, where existing home sales and average prices should trend higher while rental demand will drive growth in apartment construction.
Sonopan soundproofing panels with NoiseStop Technology are the ideal solution for preventing unwanted noise from travelling through walls and ceilings.
Siblings Billy and Carolyn are a professional renovation team that reclaims and restores farmhouses. Watch their new show, Farmhouse Facelift, on HGTV Canada beginning March 3 at 10 p.m.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Add some spice with a patterned tile, maybe a mini-mosaic or even bold geometric design. Play with the application, why not bring them from the floor to the wall to create a full-on moment. Make sure you grab samples so you can try out some interesting patterns and configurations. Make it unique. A smaller space requires less product, so even if you're designing something one of a kind, it likely won't cost you an arm and a leg.
Wallpaper
Wallpaper is amazing with a capital A when it comes to creating a wham, bam, pop or pow in your small space. Our design firm believes you can never go wrong with a bold floral wallpaper. There are thousands out there to choose from. Try to think of some of the things you like the most, such as colour, style, pattern, material or texture, before you start to look for your perfect wall covering. You don't want to get sucked down the wallpaper rabbit hole. Trust us when we say you will blink and it will be four hours later, you won't know where you are, what your name is, or what you're having for dinner. Consider this a friendly warning!
Paint
Splash that colour! If you have a pint-sized space, why not use it as an opportunity to splash a beautiful colour that makes your heart happy. We love to incorporate pops of colour on cabinetry, walls and even ceilings. Paint is the quickest and most cost-effective way to transform any space. Don't be afraid of dark colours in small spaces – they can make a teeny-tiny space look even bigger, as long as there is contrast.
Wall decor
Don't forget the earrings, and by earrings, we mean wall decor. Think of it like this: You aren't going to get all dressed up but not put on earrings. They're a must! Wall decor is important; however, in a small space, you have to be mindful of the scale of the piece you are putting up. Try using large white matting and a thin metal frame to keep your art piece simple, updated and stylish.
Lighting
This may seem like an obvious tip, but sometimes it's overlooked. Make sure you are choosing lighting that will appropriately illuminate your space. Try to allow multi-layered lighting; we find that in smaller spaces, there are sometimes more shadow spots. Focus on how your room functions for you; keep in mind task, ambient and decorative lighting can all be used to create an amazing lighting scheme.
Don't be afraid to take a few risks in a small space. More than likely you will be rewarded with a special little spot that packs a punch! Make it beautiful and make it yours.
*****
SOURCE: CONTRACTING AND MILLWORK by Hartley Built. Hartleybuilt.com | PAINT: FIRST LIGHT (pink), CHANTILLY lace (white), VINTAGE VOGUE (darker green), Hollingworth GREEN (light green) by Benjamin Moore. benjaminmoore.ca | FURNITURE by Article. article.com | DRAPERY AND ROMAN BLINDS, custom design | FAUCETS by Delta. delta.ca | LIGHTING by Kuzco. kuzcolighting.com | LIGHTING by Matteo. lightingcanada.com
Award-winning Designer Michelle Berwick is the Principal & Creative Founder of Michelle Berwick Design. This notable GTA firm has become sought after for providing livable, stylish and uniquely personal interiors.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
ROCKWOOL insulation is the sustainable way to make an impact on the challenges of climate change, urbanisation, improving people’s health and quality of life, and resource scarcity.
Hats On For Awareness is an organization dedicated to raising awareness, understanding and widespread acceptance of mental illness and addiction with the goal of eradicating the stigma associated with mental health and addiction.