Tag Archives: Hamilton

KiWi Condos

Rosehaven’s new KiWi Condos project offers the essence of urban style with amenity rich living

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Rosehaven’s new KiWi Condos project offers the essence of urban style with amenity rich living

With its vibrant street scene and pedestrian-friendly amenities, downtown Hamilton is buzzing with new sights, sounds, tastes and experiences. Now into this upbeat, cosmopolitan neighbourhood comes KiWi, Rosehaven Homes‘ iconic 14-storey condominium, located at 212 King William St. – right in the heart of Hamilton’s electrifying urban art hub. How cool is that?

Inspired by the first two letters of this trendsetting downtown street, the creatively named KiWi Condos is destined to become the area’s most exciting new address.

Distinguished by clean lines and a modern urban aesthetic, KiWi Condos will offer a wide selection of suite designs, including one bedroom, one-bedroom plus den and two-bedroom plans. Light-filled, spacious and airy open concept interiors are detailed with contemporary features that add style and convenience to modern living. Choose one of three artfully curated colour packages configured with designer finishes, and personalize your home to your individual taste.

KiWi’s extensive offering of lifestyle amenities – spread out on two levels – is designed to entertain, energize and nourish mind, body and soul. On the ground floor, prepare to be welcomed in a sleek, stylish lobby with a cosy seating lounge that boasts a cool, comfortable ambience. Step it up in the state-of-the-art equipped fitness centre or find your inner zen in the yoga studio. Treat your furry friends to a spa experience at the self serve dog wash station. Other amenities on this level that complement your busy, active lifestyle include a virtual Concierge and “smart lockers” for receiving parcels in your absence.

When it’s time to celebrate the good times, head over to the 14th floor party zone. The beautifully landscaped Rooftop Terrace is the perfect venue to get together under clear blue skies or starlit evenings overlooking the twinkling lights of downtown. Featuring spacious dining areas with barbecue stations, comfortable lounge-style seating and panoramic views of the city and Burlington Bay, the rooftop is where you want to make memories. Or host an Instagram- worthy party in the indoor social room with catering kitchen, multipurpose space and dining area. Outside or in, if you want to experience a good time, KiWi has you covered.

The area surrounding KiWi has a Walk Score of 97, Bike Score of 72 and Transit Score of 86, making it one of the best places to live in Hamilton. Plus, with 144 bike storage spots in the building, KiWi is perfect for bike enthusiasts. With a walkable and bike-friendly downtown, you won’t need a car at all. Just a short walk from home, you have HSR Transit – a fast, easy and convenient way of getting to places quicker than you ever imagined. Just minutes away, you will find several car share programs, offering yet another convenient and cost-effective option to get to where you want to go.

Located in the heart of a pedestrian-friendly neighbourhood near the Hamilton GO Centre and Beasley Park, KiWi offers the perfect base to enjoy all that Downtown has to offer. Walk a few blocks to experience the famous monthly Art Crawls and engage with artists, musicians, entertainers, buskers and off-the-wall individualists. Held on the second Friday of every month from about 6 to 11 p.m., the event attracts thousands of visitors from all over the city and beyond.

There are so many things to do around here. Shop for designer wear at Blackbird Studios. Savour a variety of cuisines at neighbourhood eateries, bakeshops, cafes and bistros. Go for a bracing walk in the Bayfront Pier 4 Park. Relax over a delicious brunch at Saint James Espresso Bar and Eatery. Check out the tempting burgers at Hambrgr. Enjoy the best of international cuisine at Denninger’s. Treat yourself to baked goodies at Mulberry Coffeehouse. From arts to cuisine to shopping to nature, everything is just minutes away from home.

KiWi Condos is an exciting new project from Rosehaven Homes, a leading name in real estate in Southern Ontario since 1992. It’s easy to pick out a Rosehaven home because the attention to detail and design is evident in every community. And why not, you deserve the best – a Rosehaven home.

Kiwi Condos is coming soon with suites starting from the upper $200,000s. Register for your opportunity to purchase in Hamilton’s most iconic condo. Visit the website and check them out on Facebook and Instagram @KiWicondos.


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Homebuyers head to GTA west… but don't ignore the east

Homebuyers head to GTA west… but don’t ignore the east

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Homebuyers head to GTA west… but don’t ignore the east

It’s not exactly earth-shattering news, since we’ve been able to observe the trend for the last few years, but a new report from ReMax of Ontario-Atlantic Canada underlines just to what degree homebuyers are heading west.

West, as in Hamilton and Halton Region – Burlington, Oakville, Halton Hills and Milton.

In analyzing sales trends in nine Toronto Real Estate Board (TREB) districts over the past five years, ReMax notes those areas captured 10.1 per cent of total market share in 2018, with a 2.3-per-cent increase over 2013.

The reasons are fairly obvious: The quest for homes at affordable prices. Indeed, this spillover effect has stimulated homebuying activity in most areas flanked by Toronto’s core and Hamilton. Burlington, in particular, soared between 2013 and 2018, with home sales almost doubling and average prices climbing 50 per cent to $769,142.

Builders of new homes also recognize the appetite for lowrise homes in the west.

But with such strong growth in Burlington, how long will this market remain an affordable option?

“The communities in the west will still be affordable compared to Toronto proper, but what we are going to see is a continued uptick in demand for more of the outlying communities like Brantford, Waterdown, Kitchener-Waterloo, Cambridge and even as far-reaching as London and Niagara,” Christopher Alexander, executive vice-president, ReMax of Ontario-Atlanti Canada, told HOMES Publishing. “What will really impact the growth of these markets, outside of availability and affordability, will be the underlying transit systems and investments in local economies, as people still have a need to be connected to the GTA core.”

But, Alexander also told HOMES Publishing, the window of opportunity to head west may be closing.

“As the west end of the GTA continues to see growth and price appreciation, a leveling effect will likely come into play (with the east region),” he says.

GTA east areas such as Durham Region may not have the same appeal as the west – currently. “The west end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers. In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

So, yes, prospective homebuyers, go west if you like, but also keep an eye on the east.


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KiWi Condos

KiWi Condos is the best of urban downtown Hamilton living

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KiWi Condos is the best of urban downtown Hamilton living

With its vibrant, active street life and pedestrian-friendly amenities, downtown Hamilton is always buzzing with new sights, sounds, tastes and experiences. Now this district is about to get cooler and trendier, with the coming of an iconic 14-storey condominium on King William Street. Inspired by the first two letters of this hip downtown street, the creatively named KiWi Condos is destined to become the area’s most exciting new address.

KiWi Condos will offer residents the best of urban downtown living. A wide selection of suite designs comes with trendy features that add style and convenience to modern living. Bright, spacious and airy open concept interiors offer spectacular views of downtown from windows and balconies.

KiWi’s inspiring roster of lifestyle amenities is designed to entertain, energize and nourish mind, body and soul. Imagine being welcomed in a sleek, stylish lobby with a cool, comfortable ambience. You can take your fitness routine to the next level in the state-of-the-art fitness centre or unwind in the yoga studio. Host an Instagram-worthy party in the contemporary Social Room, or take it outside to the beautifully landscaped rooftop terrace with panoramic views of the city and lake. Get your pet refreshed at the dog wash station. Other amenities that complement today’s busy, active lifestyles include a virtual Concierge and convenient delivery parcel storage.

Located in the heart of a walkable, pedestrian-friendly neighbourhood, KiWi offers the perfect base to enjoy all that downtown Hamilton has to offer. Walk a few blocks to experience the city’s famous Art Crawl and engage with artists, musicians, entertainers, buskers and off-the-wall individualists. Explore galleries, museums and boutiques on foot. Savour a variety of cuisines at neighbourhood eateries, bakeshops, cafes and bistros.

The area surrounding KiWi has a walk score of 97, bike score of 75 and transit score of 86, making it one of the best places to live in Hamilton. Plus, with 144 bike storage spots in the building, KiWi is perfect for bike enthusiasts. With a walkable and bike-friendly downtown, you won’t need a car at all. Transit is fast, easy and convenient, getting you to places quicker than you ever imagined.

There are so many things to do around here. Enjoy a delicious brunch at Saint James Espresso Bar and Eatery. Savour the best of international cuisine at Denninger’s. Or try the baked goodies at Mulberry Coffehouse. Shop for designer wear at Blackbird Studios. Go for a bracing walk in the Bayfront Pier 4 park. From arts to cuisine to shopping to nature, everything is just minutes away from home.

KiWi Condos is an exciting new project from Rosehaven Homes, a leading name in residential real estate in Southern Ontario. Since 1992, the company’s portfolio has grown to include scores of innovative new communities and more than 6,500 distinctively different homes – from townhomes, semis and singles to mid- and highrise condominiums.

KiWi Condos is coming soon. For Priority Preview and to purchase in Hamilton’s most iconic condo, register today at kiwicondos.com.


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COVER STORY: EDITOR'S CHOICE: Losani Homes

Losani Homes one of Canada’s best-managed companies

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Losani Homes one of Canada’s best-managed companies

For more than 40 years, Losani Homes has been known for their recognizable style and unparalleled craftsmanship. Founded in 1976 by Giovanni Losani, along with eldest son Lino, Fred Losani joined his brother and father in 1985 following graduating from Brock University.

Losani carefully chooses locations that are close to parks, trails and wooded areas, and augments these natural settings with wide boulevards and pleasing streetscapes giving each community a spirit distinctly its own, while all standing the tests of time.

In addition to more than 100 home building awards that range from local markets to world-wide recognition, Losani Homes was also named one of Canada’s Best Managed Companies for 11 straight years, a distinction conferred by the Queen’s School of Business, CIBC, The National Post and Deloitte. In the process, Losani Homes has gained platinum status in what is Canada’s leading business awards program, a feat no other homebuilder in Canada can claim. In addition, the company has received the coveted Consumer’s Choice Awards for service, value and quality for the Hamilton/Niagara regions each of the past five years, in addition to the award for Philanthropic Company of the Year.

McKENZIE

Losani Homes’ latest community offering serves up some of the best value in southern Ontario when it comes to new communities. With four two-storey contemporary townhome designs available to compliment the rich diversity offered across the single detached options, the McKenzie strikes a unique balance between offering industry-leading value without any compromises. Two-storey townhomes range in square footage from 1,454 to 1,728 and start at $397,900. Single-family detached homes are available on 36-foot and 40-foot lots with your choice of 20 unique award-winning models. Many of which come in your choice of one of four timeless elevations starting at just $504,900.

VISTA RIDGE

Positioned on a former winery in Beamsville, Vista Ridge is a unique community that embodies all that Niagara has to offer, including rich soil and enchanting vistas. In addition, it has the envied location of being close to the Bruce Trail and the Niagara Escarpment. However, Vista Ridge’s popularity also has to do with its infrastructure. Built into the community are tennis courts, a splash pad and traditional park space.

Here, two-storey towns come in three distinct layouts, ranging in size from 1,454 to 1,708 square feet, and start at $429,900. Single-family detached homes are available on 36-foot and 40-foot lots, as well as custom lots, starting at $555,900. Models range in size from 1,348 to 3,198 square feet and are available in four elevations.

SIMPLY GRAND

This Paris might not have the Eiffel Tower, but it has been billed as one of the most charming towns in Ontario. Steeped in cobblestone character, the Grand River measures the pulse of everyday life in Paris.

Two-storey semis are available in three models ranging in size from 1,481 to 1,855 square feet, with prices starting at $447,900. A total of 24 detached single-family designs are available with a choice of one of four elevations. Homes are positioned on 43-, 46- or 50-foot lots, and range in size from 1,360 to 3,500 square feet.

CENTRAL PARK

One of the largest, and most innovative, master-planned communities in Hamilton is Central Park. This neighbourhood offers inspired designs and lot choices that are built around a wonderful park, all within walking distance to shopping. Also close by is the Eco-trail Promenade, which offers direct access to the 10-kilometre East Mountain Trail Loop.

Spacious, two-storey towns are priced from $529,900 for layouts that range between 1,470 to 1,554 square feet. Three-storey towns range in size from 1,252 to 1,633 square feet and start at $444,900.

LINCOLN ESTATES

Nestled amongst 48 wineries, Lincoln Estates is one of the most exclusive collections of single-family homes in Beamsville. The location is ideal for those who love the great outdoors with the Niagara Escarpment and Bruce Trail nearby.

Choose from 26 exclusive designs of detached homes that range in size from 1,533 to 3,632 square feet. Four exterior elevation packages include Tuscan, Chateau, Traditional and Modern on 40-, 46- or 50-foot lots. Custom lots are also available. Prices start at $689,900.

PRONTO: HOMES ON DEMAND

Losani Homes’ Pronto: Homes on Demand program allows homebuyers to get the house that they want, when they want it. Because the home was built before purchasing, significant savings are passed on to the homebuyer and quick closings are available.

Move-in-ready properties, with closings as soon as 30 days, are available at Augusta Encore, Astoria Grand, Fallingwaters and Ancaster Woodlands. A selection of styles and models are priced from $439,900 to $1.2 million.

With so much diversity in Losani Homes’ current community lineup and Pronto inventory, no matter what portion of the market you and your family occupy, there is something for you at Losani Homes.

LosaniHomes.com


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kiwi_video_dec_2018_fi

KiWi Condos – how cool is that?

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KiWi Condos – how cool is that?

An iconic 14 Storey Condo is coming to 212 King William in the heart of Hamilton’s Urban Art scene.

King William is where you want to be. KiWi is cool. And you get it. This is a place where people and ideas come together. New possibilities. New thinking. Urban style. KiWi is the essence of the King William district. How cool is that?

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Drive

Drive till you qualify? Sure, but it WILL cost you

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Drive till you qualify? Sure, but it WILL cost you

Drive

You may have heard the old real estate adage, “Drive till you qualify.” The idea being that buyers who can’t afford to buy a home in the city, should drive to surrounding areas to find more affordable and larger homes, with potentially more appealing lifestyle and environmental benefits.

At least that’s the idea.

In practice, however, such a plan may not be quite so simple. A new study from Canada Mortgage and Housing Corp. (CMHC) shows that increased commuting costs and time could offset any financial savings of buying a cheaper home in an outlying area.

“By assessing the combination of commuting costs and housing costs, one can gain a more comprehensive gauge of the total cost of location choices,” says Andrew Scott, senior analyst, economics, for CMHC.

Drive3
Source: CMHC

 

In 2016, there were approximately 2.6 million commuters in the GTA, with 1.3 million of them commuting to a place of work in the city of Toronto. This made it the most common destination for GTA commuters. Roughly two-thirds of these commuters lived within the cityitself, while the remaining commuted from the 905 areasof the GTA. Pickering had the highest share of people commuting into Toronto, at 52.6 per cent, followed by Ajax (48.4 per cent), Markham (46.9 per cent), Vaughan (40.8 per cent), Richmond Hill (39.1 per cent), Whitby (32.2 per cent) and Mississauga (26.7 per cent).

Most commuters to Toronto drove, at 49 per cent, while 40 per cent took public transit. Of 905 residents who commute into the city, 67 per cent drove a car, and 21 took public transport.

Areas with longest commutes

Average duration of commutes is clearly on the rise, CMHC says, particularly among those who commute 60 minutes or more, one way. Between 2011 and 2016, this was the fastest growing segment of the commuter population, growing by 16 per cent, followed by those who commuted 45 to 59 minutes (14 per cent). Areas with one-way commutes longer than 60 minutes include Aurora, Burlington, Milton, Newmarket, Oakville and Oshawa.

Lower home prices, increase commuting cost

The most likely home type to lure buyers to the suburbs is single-detached homes, CMHC says. However, when the estimated monthly mortgage carrying cost and monthly commuting cost are combined, relatively lower priced municipalities such as East Gwillimbury, Newmarket, Mississauga, Whitchurch-Stouffville and Caledon end up costing more than or nearly as much as the city of Toronto.

Drive1

Notably, some GTA municipalities did retain their cost advantage. Even with significant commuting costs in areas such as Georgina, Oshawa and Clarington, a large cost advantage remains due to the considerably lower cost of housing.

Drive2

Based on estimates of the cost of commuting to Toronto from municipalities in the GTA, areas with lower mortgage carrying costs for single-detached housing often had significantly higher commuting costs, CMHC says. In many cases, these increased commuting costs completely offset lower home ownership costs.

Bottom line

The bottom line? Do all the math, and make sure that if you’re considering buying outside the city, your decision is based on more than money. The savings might not be there.

RELATED READING

Pent-up demand for townhomes building in the GTA

GTA new home market shows some improvement in September

5 affordable neighbourhoods for detached homes in 416 and 905

 

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LOWRISE FEATURE: Losani Homes

Losani Homes one of Canada’s Best Managed Companies

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Losani Homes one of Canada’s Best Managed Companies

For more than 40 years, Losani Homes has been known for their recognizable style and unparalleled craftsmanship. Started in 1976 by Lino Losani, Fred Losani took over the helm in 1985. Losani carefully chooses locations that are close to parks, trails and wooded areas, and augments these natural settings with wide boulevards and pleasing streetscapes.

In addition to more than 100 homebuilding awards that range from local markets to world-wide recognition, Losani Homes was also named one of Canada’s Best Managed Companies for 11 straight years – a distinction conferred by the Queen’s School of Business, CIBC, The National Post and Deloitte.

Losani Homes was also recognized with Platinum status – one of the only in Canada. In addition, the company has received Hamilton’s Consumer’s Choice Awards for service, value and quality for the past five years, in addition to the award for Philanthropic Company of the Year.

LINCOLN ESTATES

Nestled amongst 48 wineries, Lincoln Estates is one of the most exclusive collections of single-family homes in Beamsville. The location is ideal for those who love the great outdoors, with the Niagara Escarpment and Bruce Trail nearby.

Choose from 26 exclusive designs of detached homes that range in size from 1,533 to 3,632 square feet. Four exterior elevation packages include Tuscan, Chateau, Traditional and Modern on 40-, 46- or 50-foot lots. Custom lots are also available. Prices start at $689,900.

VISTA RIDGE

Positioned on a former winery in Beamsville, Vista Ridge is a unique community that embodies all that Niagara has to offer, including rich soil and enchanting vistas. It, too, has the envied location of being close to the Bruce Trail and the Niagara Escarpment. However, Vista Ridge’s popularity also has to do with its infrastructure. Built into the community are tennis courts, a splash pad and traditional park space.

Here, two-storey towns come in three distinct layouts, ranging in size from 1,454 to 1,708 square feet, and start at $429,900.

Single-family, detached homes are available on 36- and 40-foot lots, as well as custom lots, starting at $555,900. Models range in size from 1,348 to 3,198 square feet, and are available in four elevations.

SIMPLY GRAND

This Paris might not have the Eiffel Tower, but it has been billed as one of the most charming towns in Ontario. Steeped in cobblestone character, the Grand River measures the pulse of everyday life in Paris.

At Simply Grand two-storey semis are available in three models ranging in size from 1,481 to 1,855 square feet, with prices starting at $447,900.

A total of 24 detached, single-family designs are available with a choice of one of four elevations. Homes are positioned on 43-, 46- or 50-foot lots, and range in size from 1,360 to 3,500 square feet.

CENTRAL PARK

One of the largest, and most innovative, master-planned communities in Hamilton is Central Park. This neighbourhood offers inspired designs and lot choices that are built around a wonderful park, and it’s within walking distance to shopping. Also close by is the Eco-trail Promenade, which offers direct access to the 10-kilometre East Mountain Trail Loop.

Spacious, two-storey towns are priced from $529,900 for layouts that range between 1,470 to 1,554 square feet.

Three-storey towns range in size from 1,252 to 1,633 square feet, and start at $444,900.

PRONTO: HOMES ON DEMAND

Losani Homes’ Pronto: Homes on Demand program, allows homebuyers to get the house that they want, when they want it. Because the home was built before purchasing, significant savings are passed on to the homebuyer, and quick closings are available.

Move-in-ready properties are available at Augusta Encore, Astoria Grand, Fallingwaters and Ancaster Woodlands. A selection of styles and models are priced from $439,900 to $1,200,000.

Losani Homes currently has four communities under development, and a fifth was recently opened. The McKenzie, in Caledonia, includes singles and two-storey towns.

losanihomes.com


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CMHC CMA

Toronto and Hamilton highlight evidence of overvaluation, CMHC says

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Toronto and Hamilton highlight evidence of overvaluation, CMHC says

CMHC CMA

One day after the Bank of Canada raised its overnight lending rate – and hinted at further increases in the near term – the Canadian housing market got another sobering reminder this week: the latest Housing Market Assessment (HMA) from Canada Mortgage and Housing Corp. (CMHC).

CMHA warns that Canada’s overall housing market remains highly vulnerable, though conditions of overvaluation are easing as a whole.

The quarterly report acts as an “early warning system” for the country’s housing markets – an important tool supporting financial and housing market stability.

In Ontario, Toronto and Hamilton home prices are moving closer to levels supported by housing market fundamentals such as income, mortgage rates and population. Still, these markets continue to exhibit a high degree of overall vulnerability.

Source: CMHC Housing Market Assessment
Source: CMHC Housing Market Assessment

Toronto continues to show moderate evidence of overheating and price acceleration, and strong evidence of overvaluation, CMHC says. On the plus side, there is weak evidence of overbuilding, as the number of completed and unsold units is at a historic low.

Hamilton CMHC
Source: CMHC Housing Market Assessment

In Hamilton, moderate evidence of overheating exists, due to a high sales-to-new listings ratio in eight of the last 12 quarters. Price growth has persisted over the last 12 quarters, contributing to moderate evidence of price acceleration. Overvaluation in Hamilton has decreased on average, but moderate evidence remains since house prices are considerably higher than levels supported by economic fundamentals, CMHC says.

OTHER MARKET HIGHLIGHTS

  • Evidence of overbuilding remains high in Edmonton, Calgary, Saskatoon and Regina, so those markets continue to receive a moderate degree of vulnerability in the overall assessment.
  • A low degree of overall vulnerability is sustained for Ottawa, Quebec City, Moncton, Halifax and St. John’s where house prices continue to follow the path of fundamentals.
  • Montreal’s resale market is close to overheating, creating significant upward pressure on prices as a result of a sharp tightening between supply and demand.
  • In Winnipeg, evidence of overbuilding as well as the degree of overall vulnerability changed from low to moderate, reflecting increases in the inventory of newly completed but unsold units.

 

RELATED READING

7 factors that will affect GTA housing in 2019 – and 5 reasons to consider buying NOW

GTA housing market correction coming to an end, ReMax says

GTA new home market shows some improvement in September

 

 

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Hamilton

First-time homebuyers may catch a break in certain Ontario markets

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First-time homebuyers may catch a break in certain Ontario markets

Hamilton

Attention would-be homebuyers in the Greater Golden Horseshoe: Recent home price trends indicate the recovery is on, but there are still some opportunities for first-time buyers in certain areas.

According to the latest Royal LePage House Price Survey and Market Survey Forecast, year-over-year home prices made modest gains in many regions across Canada in the third quarter of 2018. The national trend was largely influenced by price appreciation in Greater Vancouver, while property in the Greater Toronto Area experienced continued year-over-year price declines, with modest gains in value when compared to the previous quarter.

The Royal LePage National House Price Composite shows that the price of a home in Canada increased 2.2 per cent year-over-year to $625,499 in the third quarter of 2018. When broken out by housing type, the median price of a two-storey home rose 1.4 per cent year-over-year to $736,337, while the median price of a bungalow climbed 1.5 per cent to $519,886. Condominiums continued to see the highest rate of appreciation nationally when compared to the detached segment, rising 6.7 per cent year-over-year to $441,240.

Looking ahead, Royal LePage projects a further uptick in home price appreciation in the fourth quarter, forecasting a 1.5-per-cent increase in the aggregate price of a home in Canada over the next three months.

ECONOMIC FUNDAMENTALS

“Positive economic fundamentals, supported by a new agreement on trade, should bolster consumer confidence across Canada and stoke demand in the nation’s real estate market,” says Phil Soper, president and CEO, Royal LePage. “Dangerously overheated regions have cooled considerably this year, while home prices have remained remarkably resilient. This is the soft landing that policy makers were hoping for.”

“I am concerned that the slower market will cause housing supply issues to be shuffled aside for other priorities,” Soper adds. “The return of runaway home prices in the country’s largest markets remains a real threat. Not this year, but in the near future. Job growth is strong, Canada is attracting more of the best and brightest from around the world and the large millennial cohort is putting increasing pressure on our limited new housing stock. It is imperative that all levels of government address looming supply shortages, particularly in affordable housing.”

After a number of years where Canada’s major real estate markets were tilted decidedly in favour of home sellers, 2018 has provided relief for many purchasers, particularly first-time buyers. “The desire to own a home remains strong with younger families,” says Soper. “Single-digit price appreciation makes pursuing the dream of home ownership a realistic proposition for many.”

FIRST-TIME OPPORTUNITIES

During the third quarter, Ontario continued to see noticeable differences between appreciation rates in the GTA and surrounding Golden Horseshoe cities and beyond. Despite some price relief in the GTA, buyers – particularly young families – from the region are venturing out to other Southern Ontario cities in search of more affordable homes, where price points are still significantly lower.

In contrast, over the same period, the aggregate price of a home in the GTA remained relatively flat year-over-year, depreciating 0.4 per cent to $836,402. The City of Toronto maintained solid ground, increasing by a healthy 5.2 per cent, while nearly every suburban region studied, except for Mississauga, posted year-over-year price declines. However, quarter-over-quarter, the aggregate price of a home in the GTA rose 1.3 per cent. By the end of the fourth quarter, Royal LePage expects the aggregate price of a home in the GTA to rise to $853,097, a further 2.0 per cent over the third quarter of 2018.

“The GTA is emerging from a housing correction that was triggered by a combination of eroding affordability and government intervention,” says Soper. “The introduction of the mortgage stress test in particular slowed activity in Toronto’s ‘905,’ bringing lower prices to the over-heated suburban region. Quarter-over-quarter trends are pointing to the end of this correctional cycle and the beginning of a modest recovery in the region.”

HOTTEST 5 GGH MARKETS BY PROPERTY TYPE

Median price growth, year-over-year, third quarter 2017-18, Royal LePage

DETACHED TWO-STOREY

Niagara-St. Catharines
9.4%
$434,946

Kitchener-Waterloo Cambridge
6.5%
$541,134

Guelph
6.2%
$589,682

Hamilton
5.1%
$606,671

Toronto
4.7%
$1.268M

 

DETACHED BUNGALOW

Niagara-St. Catharines
7.2%
$394,337

Hamilton
5.1%
$509,384

Guelph
4.9%
$501,329

Kitchener-Waterloo Cambridge
3.5%
$458,370

Vaughan
2.3%
$1.279M

 

CONDOMINIUM

Toronto
9.3%
$561,733

Mississauga
9.1%
$415,733

Hamilton
8.9%
$344,422

Kitchener-Waterloo Cambridge
7.8%
$302,184

Scarborough
6.8%
$387,149

 

RELATED READING

5 affordable neighbourhoods for detached homes in 416 and 905

GTA housing market correction coming to an end, ReMax says

6 Ontario municipal elections to watch regarding housing

 

 

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NEIGHBOURHOOD WATCH: Hamilton

NEIGHBOURHOOD WATCH: Hamilton

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NEIGHBOURHOOD WATCH: Hamilton

by Gale Beeby

Housing Options

Hamilton is no stranger to historic housing or large estates, but also has a large selection of housing at any price, including an influx of new condominiums. Click here to see a full list of new homes/condos for sale.

Leisure Pursuits

The award-winning Royal Botanical Gardens is a 2,422-acre nature sanctuary considered the plant biodiversity hotspot of Canada. It is also a part of the Niagara Escarpment World Biosphere Reserve. The Canadian Warplane Heritage Museum houses over 40 historical aircraft and an extensive aviation gift shop and gallery.

Also located in Hamilton is the Canadian Football Hall of Fame, the Hamilton Military Museum, the Museum of Steam and Technology, and the Whitehern Historic House and Gardens. Dundurn Castle is an 18,000-square-foot neoclassical mansion that was completed in 1835 by architect Robert Charles Wetherell.

Hamilton is also home to the Tiger-Cats of the Canadian Football League and the Bulldogs of the Ontario Hockey League; their main rivals are the Toronto Marlies.

Parks & Rec

If you are an active hiker, this is the area for you. The Bruce Trail, Canada’s oldest and longest marked footpath and a UNESCO World Biosphere Reserve, runs 890 kilometres along the Escarpment from Tobermory in the north to Niagara in the south. The section of the trail from Milton to Grimsby runs along the ancient shoreline of Lake Iroquois.

The Hamilton Conservation Authority operates several parks, including Westfield Heritage Village, Dundas Valley (home to the Hermitage Ruins), Fifty Point on Lake Ontario, Spencer Gorge/ Webster’s Falls, Christie Lake, Confederation Park, Eramosa Karst (filled with underground caves and streams) and Valens Lake campground.

Retail Therapy

Hamilton has a lively downtown with a large selection of boutiques, restaurants, cafés and salons. Jackson Square is Hamilton’s largest downtown shopping mall, which is also connected to FirstOntario Centre (formerly Copps Coliseum). The City Centre Mall and Lime Ridge Mall, Hamilton’s largest shopping destination with over 200 shops and services, round out the large shopping districts. And, of course, big box outlets are handily located.

Easy Access

Transit is a viable option in Hamilton. The HSR (Hamilton Street Railway) runs throughout the city and connects with Burlington. Its name is a legacy of the days when most of public transit vehicles were streetcars. The area is served well by highways, including the QEW and Highways 403, 6, 8 and 20, the Lincoln M. Alexander Parkway and the Red Hill Valley Parkway, making commutes into the Niagara Region or the GTA simple. GO Transit also goes in and out of Hamilton daily.

BY THE NUMBERS

Population: 537,000

Known as: The Waterfall Capital of the World

WALK SCORES

Westdale Hamilton: 90

West Hamilton: 88

Dundas: 83

Hamilton Mountain: 82

Ancaster: 75

Upper Wentworth: 73

Stoney Creek Downtown: 75

Hamilton.ca


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