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Heathwood Eleven Altamont

Coming soon to North York – Eleven Altamont by Heathwood Homes

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Coming soon to North York – Eleven Altamont by Heathwood Homes

Heathwood Eleven Altamont

If you’re scouting about for new lowrise home options, take note: Eleven Altamont, Heathwood Homes, is set to launch this fall.

Urban living on Yonge Street is what Eleven Altamont is all about, with luxury townhomes from 1,708 to 2,504 sq. ft., in two- and three-bedroom configurations.

Rich, dark charcoal brick and beige stone set the tone of sophistication for these luxury townhomes in a master plan around a landscaped courtyard garden. Inside, the homes offer large contemporary, open concept designs finished with only the finest in luxury appointments. Even more, each incorporates the flair and flexibility of a custom home catering to your own family’s unique needs. Choose whether you want your master suite on the second or third level. Select the most convenient location for your laundry and choose if you want a third bedroom or a family room. This is sophisticated urban living taken to the next level.

Heathwood Eleven Altamont

In the heart of North York

Set amidst tree-lined streets in the very heart of one of North York’s most sought-after established neighbourhoods, Eleven Altamont will afford cosmopolitan living in an intimate residential enclave, only minutes from everything that matters. Live just steps away from schools, parks, transportation and fabulous shopping.

Vibrant outdoor living is an integral part of Eleven Altamont. At the centre of the community is a landscaped courtyard where residents come together to relax, mingle and socialize. Walkways, trees and a parkette offer a soothing touch of green, while shaded benches invite you to rest and watch the world go by. This is your sanctuary, a retreat to come home to after a busy day.

Stroll through parks, savour international cuisines, send your kids to the best schools, enjoy a theatre production, hop on the subway and be downtown in minutes. Edithvale Park and Community Centre is steps away and offers a host of fun children’s activities, the Toronto Centre for the Arts provides world-class entertainment, and Mel Lastman Square hosts numerous civic events.

Heathwood Eleven Altamont

Highlight features include an eight-ft. front door, smooth nine-ft. ceilings throughout all three levels, eight-ft. interior doors with stained nickel lever handles and hinges, central air and a Smart Home Package that includes a home hub, smart thermostat video doorbell and more.

The master ensuite boasts an upgraded furniture-style vanity and free-standing tub and frameless glass shower with rain shower-style showerhead. For all bathrooms, you have your choice of granite or quartz countertops.

Epicurean tastes

For epicurean tastes, gourmet kitchens come with custom designed cabinetry with extended upper cabinets, your choice of granite or quartz square edge countertops, choice of designer selected tile backsplash, soft close doors and drawers and a premium appliance package.

Step outside your new luxury town and into the nearby great outdoors, with private rooftop terraces with a natural gas barbecue connection, on each terrace, and exclusive shared outdoor amenities, including seating areas, exercise areas, bicycle storage, pet zones and play areas.

Register now at heathwood.com

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Aurora Glen – Townhomes -Lindvest

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Aurora Glen – Townhomes -Lindvest

Our designer inspired and decorated model home at our Aurora Glen Community.

Aurora Glen – Townhomes – Laurel from LINDVEST on Vimeo.

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The Clarkson Townhomes

The Clarkson Townhomes inspired by life on the GO

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The Clarkson Townhomes inspired by life on the GO

What if there was a place that felt like home but was changing right before your eyes? Clarkson Village is that place where you can unwind and relax, lounge or stroll. You’ll always find something exciting happening right around the corner.

In the heart of it all is The Clarkson Urban Towns by Haven Developments. Located in south Mississauga’s prestigious Clarkson Village at 2200 Bromsgrove Rd., this community will allow you to experience urban living to the fullest.

The Clarkson keeps you close to what’s important for everyday life. Conveniences like grocery stores and pharmacies make it easy to shop for much-needed essentials, including a new Loblaw’s pick-up location at the Clarkson GO Station. Become part of a growing community with a local scene of boutique shops, activities and restaurants.

These spacious and stylish townhomes inspire peaceful moments on your own or exciting celebrations with friends. Featuring meticulous attention to detail, a well-designed floorplan to maximize space, and luxurious interior finishes such as quartz, glass tile and options such as brushed gold accents to complete the look.

Haven Developments creates communities that complement and enrich the lives of homeowners. The company designs properties that feel like home and connect you to the city you love. Being connected is something Haven achieves in proximity to transit, nature, and amenities. In fact, one of its most distinctive philosophies is that it builds only in locations with superior access to transit.

At The Clarkson you’ll discover transit options that will quickly get you to your desired destination. With GO at your doorstep, get to Union Station in 25 minutes flat. Nearby highways take you through the GTA and beyond. Gain easy access to Toronto and Pearson International Airport.

GO Transit operates three train lines and several GO bus routes through Mississauga. MiWay is the primary bus operator with a dedicated and fast east to west bus-only roadway. MiWay’s routes connect with GO Transit commuter rail and intercity buses. The system also connects with Brampton Transit to the north, Oakville Transit to the west, York Region Transit (YRT) to the northeast, and the Toronto Transit Commission (TTC) to the east.

Thanks to Loblaws and Metrolinx you can order groceries online and pick them up at the Clarkson GO Station on your way home from work, in time to prepare a fresh meal — just one of the many perks this location has to offer.

Most people have no idea how much greenspace Mississauga has. The outdoor enthusiast is sure to find their haven with miles of walking trails, boardwalks and a scenic cycling path along the Lakeshore. Discover the new Bromsgrove and Sheridan Creek trails across the street from The Clarkson.

The proximity to Port Credit, only a five-minute ride on the GO, is certainly a draw as Mississauga’s entertainment hub for shopping, dining and entertainment.

Need any more reasons to love life at The Clarkson?

Haven is having a public launch in February. Register at the website to receive updates on this development.

theclarkson.ca


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New home sales

2018 GTA new home sales drop to lowest mark in nearly 20 years

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2018 GTA new home sales drop to lowest mark in nearly 20 years

New home sales

Last year saw the lowest total sales in almost 20 years in the GTA new home market, the Building Industry and Land Development Association (BILD) reports.

Overall in 2018, there were 25,161 new homes sold in the GTA, according to Altus Group, BILD’s official source for new home market intelligence, making 2018 the year with the lowest number of new home sales in the GTA since Altus Group started tracking new home data in 2000.

New record low

There were 21,330 condominium units sold in 2018, including those in low-, mid and highrise buildings, stacked townhouses and loft units – down 38 per cent from 2017 but only four per cent less than the 10-year average. Setting a record low since Altus began tracking new home data in 2000, there were only 3,831 single-family homes sold in 2018, including detached, linked and semi-detached houses and townhouses (excluding stacked townhouses). This is down 50 per cent from 2017 and down 74 per cent from the 10-year average.

“A number of factors combined to produce the drop in GTA new home sales in 2018,” says Patricia Arsenault, Altus Group’s executive vice-president, Data Solutions. “More stringent mortgage stress testing, rising interest rates and lack of single-family product affordable to a broader range of buyers all played a role. As well, the record new condo apartment sales in 2017 brought forward some demand that would otherwise have occurred in 2018.”

In December, the benchmark price for new condos was $796,815, up 11.2 per cent over the last 12 months. The benchmark price for single-family homes was $1.14 million, down 6.7 per cent over the last 12 months.

Out of balance

“From our point of view, the market is out of balance,” says David Wilkes, BILD president and CEO. “We must continue to work with all levels of government to ensure that policies don’t artificially price consumers out of the market.

“We commend the provincial government for taking action toward increasing housing supply in Ontario,” Wilkes adds. “We join other industry groups in calling on the federal government to revisit the stress test and allow a longer amortization period for first-time buyers. And we look forward to working with our municipal partners on removing barriers to development such as excessive red tape and outdated bylaws.”

At the end of December, there were 15,768 new homes available for purchase, comprised of 10,687 condominium units and 5,081 single-family homes. Remaining inventory includes units in preconstruction projects, in projects currently under construction, and in completed buildings.

 

December New Home Sales by Municipality

December 2018 Condominium apartments Single-family Total
Region 2018 2017 2016 2018 2017 2016 2018 2017 2016
Durham 40 17 50 44 15 75 84 32 125
Halton 48 163 59 21 47 93 69 210 152
Peel 108 89 130 32 11 152 140 100 282
Toronto 479 404 1,684 9 8 31 488 412 1,715
York 129 195 345 30 62 274 159 257 619
GTA 804 868 2,268 136 143 625 940 1,011 2,893

Source: Altus Group

RELATED READING

GTA new home market back to typical sales and openings levels in November

GTA among the most promising new home outlooks for 2019, Altus Group says

GTA condos lead resale price growth in 2018

 

 

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Mattamy Homes Milton

Mattamy Homes reports exceptional sales in Milton

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Mattamy Homes reports exceptional sales in Milton

Mattamy Homes Milton

In a clear sign that the fundamentals of the Toronto area real estate market remain strong, Mattamy Homes is reporting robust January sales results from the release of new lots in its Hawthorne South Village Sixteen Mile Creek community in Milton, Ont.

The Creekside Collection sold out all 180 lots released for sale on Jan. 19 (113 sales) and Jan. 26 (67 sales). Over the two days, Mattamy hosted 500 families hoping to secure a townhome or detached home featuring the company’s designs in its most awarded community ever. Buyer lineups began forming days before the Saturday openings, and by the end of both days, all available inventory had been sold out.

“While there is no doubt that the real estate market in the Greater Toronto Area has undergone change in the last 18 months, our sales results in Milton the past two weekends are telling a very positive story,” says Brad Carr, CEO of Mattamy Homes Canada. “What we’re seeing is that in the midst of this soft landing, there is definitely still strong demand driven by solid market fundamentals. We are pleased to see so many buyers recognizing the long-term value of home ownership and investing in their families’ future.”

The products available at the Creekside Collection comprise a variety of townhome and detached designs: Freehold Village Homes, two-storey townhomes and detached homes on 30-, 34-, 36- and 43-ft. lots.

Mattamy is also looking forward to seeing continued strong results with upcoming sales launches in Brampton (Feb. 2) and Oakville, as well as more releases to come in Milton.

RELATED READING

LOCAL FOCUS: Milton, Acton and Georgetown

Mattamy Homes’ Saturday in Downsview Park

 

 

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The Heathwood tradition continues at Wallaceton in South Kitchener

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The Heathwood tradition continues at Wallaceton in South Kitchener

For nearly 40 years, award-winning builder Heathwood Homes has been creating extraordinary communities for families across Southern Ontario. Now, Heathwood is offering fabulous new homes in Wallaceton, a unique master-planned community in the desirable and convenient area of South Kitchener.

At the sales opening of the luxurious townhomes, 50 per cent of the limited release was sold to purchasers attracted to Heathwood’s innovative open-concept designs in three- and four-bedroom layouts. An excellent selection of these fabulous townhomes are still available. In addition, Heathwood is accepting registrations for its upcoming 31-ft. single-detached homes release.

Wallaceton’s location is perfect for first-time buyers, young and growing families seeking a move to a larger home, as well as those right-sizing their lifestyle. Situated opposite the new RBJ Schlegel Park, which is currently under construction, Wallaceton also has a large community park, unique parkettes, an elementary school site, open space/wetland area, ponds, trails and walkways. A wide selection of retailers and restaurants are also nearby.

Heathwood’s homes have striking exteriors in timeless materials of stone, brick and siding with classic detailing. Luxury interior features of these townhomes include finished lower level with a three-piece bathroom, nine-ft. main level ceilings, stone kitchen counters, hardwood flooring on main level, oak stairs, electric fireplace in great room (all as per plan), and many more luxury features. The two-storey townhomes range from 1,785 to 2,733 sq. ft. with spacious living and dining areas, large family rooms, gourmet kitchens and sleek bathrooms.

The 31-ft. detached homes will be available in sizes from 1,600 to nearly 3,000 sq. ft., with three- and four-bedroom layouts and loaded with standard luxury features.

Heathwood has earned the reputation as a builder with a difference – and that difference will soon brighten South Kitchener’s residential landscape in Wallaceton. Register for Wallaceton singles today at heathwood.com.

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Building New Communities how architects support city builders

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Building New Communities how architects support city builders

With the lack of affordable housing dominating the headlines, there’s a renewed awareness, focus and energy to address this urgent issue. Everyone agrees that we want cities where people of all ages, stages and income levels can live. The bigger question is how can we as architects support city builders and developers to collectively achieve this?

The answer is not just in building new housing, but rather, the right type of housing. Somewhere between the two extremes of detached single family homes (which take up large footprints in our growing cities) and highrise multi-residential towers, (which may lack community spaces and amenities desired by families) is the need for a new housing type. The solution lies in filling in urban spaces with missing middle housing.

I’ve long advocated for the need to build more missing middle housing. Cities need thoughtful architectural design solutions that use land and space efficiently. We must create dense, transit-oriented, pedestrian- friendly, complete communities for a range of people and families across the income spectrum. The opportunities are endless for this new approach to development, not only in established neighbourhoods but in former industrial sites, surplus schools and underused shopping malls near transit.

Building for the missing middle means building medium-density, low-impact buildings designed in sync with the needs of the local community. Think small apartment blocks, stacked townhouses, multiplexes, courtyard apartments and other building types ranging from three to six storeys, with proximity to parks, greenspaces, schools and various commercial and community amenities.

It’s encouraging that we’re seeing more examples of these projects across the GTA and Ontario. I’m proud that our firm has helped realize many of them. A recent project we undertook for Mattamy Homes in northeast Markham illustrates how missing middle development is possible.

Our vision for Cornell Centre was to create a sense of place where none existed before. Formerly, the site was used for agriculture. Our challenge was to create a memorable place for residents and visitors that met the client’s financial goals, local planning guidelines and reflected the latest in urban design principles.

With the first phase scheduled for completion in Q1 of 2019, residents and visitors will greeted by a strong corner marker – it will serve as an indoor/outdoor amenity and gathering space for residents, while creating an appealing gateway to the Village of Cornell in Markham. Set over 1.5 acres, the site features 135 units in a six-storey condominium and 10 3.5-storey townhomes. An additional 107 units and six townhomes are planned to be built in the second phase. The condominiums feature ground floor commercial units that blend into the overall design.

A focal point for the community, Cornell Centre serves as an entry to the lowrise townhouse community immediately north and east of the site, while addressing the urban scale of Bur Oak and its connections to contemporary community buildings such as Markham Stouffville Hospital and the Cornell Community Centre and Library. The development’s highly desirable location fosters new opportunities for employees that can now reside in walking distance to work.

Sustainability and active transportation initiatives

Sustainability is always top of mind at Q4A, so we integrated recycled and renewable source materials wherever possible. We incorporated inexpensive, wood frame construction made of renewable organic building materials. The mechanical and electrical systems are 15 per cent more efficient than OBC requirements. Water efficient fixtures reduce water consumption by 30 per cent. Overall, the project meets LEED standards and exceeds Ontario Building Code requirements.

By connecting residents to transportation and open green spaces, we’re enabling and encouraging wider pedestrian use for walkers, runners and cyclists. Fifty per cent of the site’s landscaped areas feature native plantings.

The community is already receiving accolades, with Money Sense recently ranking Cornell Centre as one of the GTA’s top 25 neighbourhoods for affordability. At Q4 Architects, we believe that building more midrise homes and communities is one of the most positive ways to future-proof our cities. If communities embrace missing middle housing typologies, we can cater to diverse demographics by creating and transforming neighbourhoods into vibrant, livable and complete communities.

Frances Martin-Digiuseppe is Founder and Principal, Q4 Architects Inc. Q4Architects.com

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EDITOR'S CHOICE: Podium Developments

New home buying opportunities abound in Oshawa and Durham Region

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New home buying opportunities abound in Oshawa and Durham Region

EDITOR'S CHOICE: Podium Developments
Ironwood Towns in North Oshawa by Podium Developments and Urban Capital

Despite the bad news this week that General Motors Canada plans to close assembly operations in Oshawa, there are some good new home buying opportunities in the city and elsewhere in Durham Region.

As various levels of government and the Unifor trade union vow to somehow keep the plant open or otherwise deal with the fallout of the decision, the housing sector in Oshawa is expected to shift into a buyers’ market.

That could mean deals for buyers in a market where home prices have already been under pressure.

 

Also read: What the GM plant closure means for Oshawa economy and housing

Also read: Oshawa housing to move into buyers’ market thanks to GM closure

 

For those looking to buy a new home, know that there are still plenty of good opportunities in Oshawa and surrounding area.

First, let’s look at recent new home buying activity in the area, courtesy of statistics from Altus Group, theofficial source for market intelligence for the Building Industry and Land Development Association (BILD).

 

Total new home sales, units

Oshawa Durham Region
Annual
2013          682       2,376
2014       1,108       3,130
2015          971       3,433
2016       1,149       5,344
2017          490       2,385
Jan-Oct
2017          483       2,262
2018            83       1,065
Source:  Altus Group

 

Naturally, the GM news is a sensitive topic to an industry such as home building, where companies dedicate years to planning and construction development projects. So don’t expect a comment any time soon from BILD, the voice of home builders in the GTA, or individual companies.

Might developers at some point offer deals – be they discounts or upgrades – in order to move an unsold inventory in a market not feeling the strongest at the moment?

It never hurts to ask.

 

A selection of new home and condo inventory

Ironwood in North Oshawa, Building Capital and Podium Developments, contemporary freehold townhomes

Harmony Creek, Conservatory Group, townhomes and detached homes

Daniels FirstHome Oshawa, townhomes

Brook Phase 2, Delpark Homes, detached homes

Fields of Harmony Phase IV, Greycrest Homes, detached homes

Harmony Gate, Sundance Homes, townhomes

Kingsview Ridge, Treasure Hill, 30-, 36- and 40-ft. singles

Park Ridge, Tribute Communities, detached homes from the low $900’s

U.C. Towns 2, Tribute Communities, townhomes form the low $600’s

Top of Townline, Woodland Homes, detached homes

For more new home buying opportunities, visit MyHomePage.ca

With files from Natalie Sicilia, New Home Research Manager & Map Editor

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Townhomes

Pent-up demand for townhomes building in the GTA

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Pent-up demand for townhomes building in the GTA

Townhomes

Condos may be the choice for many in the increasingly expensive GTA, but not everyone wants to live in a box in the sky. More and more new home buyers are looking for affordable lowrise options such as townhomes. Emphasis on the word affordable.

The problem? The supply just isn’t there – and the pent-up demand is growing.

Appealing especially to young families, townhomes provide more space and flexibility than condos, and generally are far more affordable than single-family homes.

“Both stacked (townhomes) and (row) townhouses form a key component of the Missing Middle – the built forms between high-density condo and low-density single-family housing,” Matthew Boukall, vice-president, product management, Data Solutions at Altus Group, told Homes Publishing.

Altus recently studied the sector for one of its regular housing reports, surmising that townhomes play an increasingly important role in in the new home sector, not just in the GTA but across Canada.

In the GTA, new townhouse sales have plummeted in the past two years – both in absolute terms and as a percentage of total new home sales (to just seven per cent of the total in the first half of 2018), Altus says.

GTA Starts

Affordability and availability remain an issue.

In the GTA, the key challenge to supplying this built form has been finding land with the right entitlements to allow and support this construction, Altus reports. Much of the land along Toronto streets support higher density condo product or is priced at a level which encourages rezoning to support this density.

“What can support more townhouse development is allowing rezoning of the land between the existing single-family communities and the corridors for more mid-density development,” Boukall says.

Although townhouse land (medium density) sales in 2017 were actually up over 2016, they are trending lower in 2018. Part of the problem is a lengthy approval process. “Year to date in Toronto, we have only tracked five approved townhouse projects, representing less than 350 units,” says Boukall. “Obviously, we need more product to meet the market demand. The positive note is that developers are proposing more product, with almost 1,500 new units applied for in 2018.”

GTA Townhouse sales

STACKED TOWNHOMES

Stacked townhouses, in which one row of townhouse units is stacked on top of another, provide a more affordable option to single-family homes, given higher densities. They also offer many of the appealing aspects of condominiums, but without living in a highrise environment.

However, they still play a relatively smaller role than traditional townhouses in the overall townhouse arena, Altus says.

In the Vancouver market, for example, new stacked townhouse units accounted for slightly more than 200 sales on average per year in 2015-17 – about six per cent of all new townhouse sales.

GTA Stacked

In the GTA, where stacked townhouses have made a larger dent, they remain a niche segment, accounting for about one in five new townhouse sales in recent years.

Part of the challenge with stacked townhouses versus rowhomes are those similar to condominium apartments – longer planning and construction timelines, and other residences adjacent on all sides

Both housing types will play an important role throughout the GTA in the future, but stacked townhouses are expected to become more popular given the better affordability provided by the higher density housing type.

“That said,” Boukall adds, “traditional row townhouses are the more common housing type in the GTA and as such, account for more sales compared to the stacked townhouse product. Row townhouse product has been accounting for a growing share of the single-family new homes sales in the GTA, currently accounting for 42 per cent of the total single-family sales activity in the GTA.”

WHERE IN THE GTA?

So, prospective GTA new home buyers, which areas hold the most promise in terms of future townhome availability?

While townhouses are expected to remain a popular housing option throughout the GTA, both Toronto and the York region share the most medium density land activity in the region, and should see increased development activity as a result in 2019 and beyond.

“The Peel region, most notably Brampton, is the most active for stacked and row townhouse sales in 2018 and should continue to see demand supported by an available land supply and comparably affordable prices,” says Boukall.

RELATED READING

5 affordable neighbourhoods for detached homes in 416 and 905

Vast majority of GTA Millennials fear buying a home is out of reach, poll says

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

 

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Condo TO web

GTA condo sales and prices hit record levels

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GTA condo sales and prices hit record levels

Condo TO web

With home prices seemingly forever on the rise, there is only one way for many GTA homebuyers to go – up, as in into highrise condos and other multi-family housing options.

Fueled largely by affordability – and the lack thereof in lowrise homes – resale condominium apartments and townhomes in the GTA now represents almost 37 per cent of total residential sales by the Toronto Real Estate Board (TREB), up from 30 per cent in 2013, according to a new report by ReMax of Ontario-Atlantic Canada Region.

ReMax report

Momentum has also been reflected in resale condominium values, which is the only property segment that held up against the 2017 market correction, ReMax says.

The average price of a condominium unit increased almost eight per cent to $551,761 between January and October 2018, up from $512,552 during the same period in 2017.

Townhomes were slightly ahead of last year’s pace, with values hovering at $571,058, compared to $568,165 in 2017. Prices of freehold properties, including single-detached, semi-detached, attached/row/townhouse and linked townhomes are all down year-over-year.

AFFORDABILITY KEY ATTRACTION

“The condominium lifestyle continues to resonate with buyers in the Greater Toronto Area for a number of reasons,” says Christopher Alexander, executive vice-president and regional director, ReMax of Ontario-Atlantic Canada Region. “While the affordability aspect is first and foremost, we’ve also a seen strong investor presence in recent years.”

Alexander cites a recent report by Urbanation and CIBC, which found that investors who bought condominiums for the purpose of renting accounted for 48 per cent of all newly completed units in the GTA in 2017. “The income potential, given today’s tight rental market, in addition to the overall return on investment, has been a serious draw for real estate investors.”

Immigration, population growth and lifestyle choices have also contributed to the uptick in demand for condo apartments and townhomes. Aging infrastructure, combined with a lack of transportation alternatives, longer commute times and the environmental component – with efforts to reduce carbon footprint – have all played a role in buyers choosing condominiums in Toronto proper that are close to both work and play, Alexander says.

DOWNTOWN THE CHOICE LOCATION

The most popular area for condominium sales remains the downtown core, with one in every five condominiums (21.9 per cent) sold in the area bordered by Bloor Street to the north, the lakeshore to the south, the Don Valley Parkway to the east and just past Dovercourt Road in the west.

“In spite of a proliferation of condominium developments over the past decade, supply and demand issues continue to persist in the core,” says Alexander. “Limited inventory continues to place substantial upward pressure on prices, with fewer affordable housing options available– and that includes condominium rentals.”

Average resale prices hover at $700,000 for condo units, with new construction closing in on $1,000 per sq. ft.

PROXIMITY TO TRANSIT

“Higher prices in the core are prompting buyers to consider condominium communities farther afield,” says Alexander. “New construction along subway lines to the north, east and west are exceptionally popular, especially with first-time buyers. Yonge Street north of Hwy. 401 comes to mind, as well as the Sheppard line between Bayview Avenue and Leslie Street. Combined, these two areas represent approximately 10 per cent of total resale condominium sales to date and continue to experience growth.”

Mississauga is the GTA’s second most popular destination for condominium living, accounting for 14 per cent of condominium sales so far this year.

Almost 51 per cent of condominium sales in the GTA occur under the $500,000 price point, but affordability is being threatened as builders and developers face skyrocketing construction costs and a land crunch within the GTA, and struggle to maintain the status quo, ReMax says.

“The necessity to ‘build up’ has never been more prevalent in a city that has seen its population climb from one census to the next,” says Alexander. “To prevent the run-up we’ve seen in housing values in the past, all levels of government must work together with developers to streamline the building process. We need to create more affordable GTA housing options that can accommodate buyers and renters at every price point.”

THE TOWNHOME OPTION

These trends generally align with the findings of another report, from Altus Group. Lack of affordability and availability of single-family new homes has buyers increasingly looking to townhomes as a lowrise home option. But supply issues in this category have seen new townhouse sales plummet in the past two years, in both absolute terms and as a percentage of total new home sales – just seven per cent of the total in the first half of 2018.

RELATED READING

New condos in Toronto hit record high in prices

Vast majority of GTA Millennials fear buying a home is out of reach, poll says

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

5 steps to solving the housing affordability issue in Ontario

 

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