In February, new housing prices continued to increase but at a slower pace from the previous two months.  Nationally, the index was up 6.2% over February 2007 with higher material costs, labour shortages (thus, higher labour rates), and land development costs cited as factors.

In Ontario, the year over year increases for new homes were moderate:

  • Toronto - Oshawa: up  4.4%
  • Hamilton: up 3.6% 

compared to double digit increases in Saskatoon (58.3%), Regina (28.6%), Edmonton (14.8%), Winnipeg (14.5%), St. Johns (12.2%), and Halifax (11.4%).

References:

 

Non-residential construction pace continues
04/14/2008
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For the first quarter of 2008, Ontario posted a 3. 1% quarterly gain in non-residential construction (2nd only to Alberta) with investment rising to $3. 8B. Toronto and Hamilton led municipalities in investment growth (by dollar value) at $1. 9B and.. more
Building Permits: Up or Down?
04/07/2008
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Building permits (a dollar value measure of construction intention) was a mixed bag in Ontario for Feburary. While "net" building permits saw a 16% decline from January's numbers, this statistic is comprised of: residential building… more
GTA Resales in March Down Sharply
04/06/2008
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Well, the numbers are in and at first glance, it looks gloomy. The Toronto Real Estate Board (TREB) reports that resale activity is down 22% (versus March 2007) in the GTA: -27% in Toronto, -18% in the surrounding "905". But let's… more
LTT: The Aftermath
03/05/2008
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The Toronto Real Estate Board took a strong position against Toronto's (then proposed) Land Transfer Tax (LTT), regardless of concessions. Contrary to TREB's position, the Toronto Board of Trade (BoT) flip-flopped, i. e., it reversed its… more
GTA Resales Market Healthy Despite Weakness
03/05/2008
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Compared to February 2007, last month's resales activity is reportedly down 11% overall (14% in Toronto vs 9% in the 905 burbs). But to frame this in the proper context, inventory is also down 7%. While these numbers are markedly down, there is good… more
Condo Resales Powers Strong Finish to Record Year
01/07/2008
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As expected, 2007 was a record year for the Toronto Real Estate Board. Above average condo resales activity and increased activity in Toronto (both likely attributeable to the Toronto Land Transfer Tax being introduced this year) were noticeably up… more
Record Year - Here We Come!
12/16/2007
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The Toronto Real Estate Board posted its strongest November ever, with the average price up 11% and number of resales up 16% over November 2006. Parts of Toronto and Markham experienced notable upticks in activity that month. Moreover, overall… more
Competition Bureau Recommends Changes
12/16/2007
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The Competition Bureau has released its report studying self-regulated professions in Canada, i. e., accountants, lawyers, optometrists, pharmacists and real estate agents. Among the many recommendations, the Bureau suggested: More uniform… more
Land Transfer Tax Refund Extended to Resale Homes!
12/14/2007
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With a glowing surplus, the province announced an expansion of the land transfer tax refund (rebate) -- up to $2000 -- to first-time home buyers of resale homes. The refund was previously only available on new construction. The new policy,… more
 

Anthon Pang, Broker, e-PRO, SRES

Toronto, ON

More about me…

Right At Home Realty Inc., Brokerage

Address: 7045 Edwards Blvd., Ste. 401, Mississauga, ON, L5S 1X2

Office Phone: (905) 565-9200

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