Ontario Active Life - August 24, 2024

RATE CUTS KICK-START SALES

WAYNE KARL EDITOR-IN-CHIEF Active Life

EMAIL: wayne.karl@nexthome.ca

TWITTER: @WayneKarl

It’s early days yet, and we don’t want to get too excited, but there’s evidence the recent interest rate cuts by the Bank of Canada are already beginning to make a difference.

First, a quick recap. As our report, Navigating the GTA Housing Market, on page 26 discusses, the Bank of Canada on July 24 did what we all hoped when it announced its second consecutive interest rate cut, reducing the policy rate by 25 basis points to 4.25 per cent.

The hope now is that the move kicks off a notable pick-up in homebuying and building activity, and that more rate cuts are around the corner.

At least in the resale market, results for July are encouraging, as the Toronto Regional Real Estate Board (TRREB) reports that sales were up over June. Prices, too, seem to have responded, as average selling prices are up slightly on a month-over-month basis.

“We may be starting to see a positive impact from the two Bank of Canada rate cuts announced in June and July,” says TRREB President Jennifer Pearce. And with the cost of borrowing expected to decline further in the coming months, sales and prices should respond in kind.

On the new homes side, though GTA new home sales remained slow in June, they are showing early signs of recovery, according to the Building Industry and Land Development Association (BILD). “We are continuing to see some sales return in select regions of the GTA, predominantly singlefamily homes and outside of the city of Toronto,” says Justin Sherwood, senior vice-president of communications and stakeholder relations at BILD. As the market continues to adjust to the lower rates – hopefully with more to come – and we round the corner out of the slower summer months and into fall, it’s reasonable to expect that resale and new home results continue to improve.

Use this time, then, to prepare and plan your purchase. The kick-start may have begun.

PERSONAL FINANCE | JESSE ABRAMS

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

WESTERN VIEW | MIKE COLLINS-WILLIAMS

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

HOME REALTY | DEBBIE COSIC

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

GARDENING | BEN AND MARK CULLEN

Mark Cullen is a Member of the Order of Canada, and provides gardening advice to more than two million Canadians each week. Ben Cullen’s specialty is food gardening. markcullen.com; Facebook @MarkCullenGardening and Pinterest @MarkCullenGardening.

TECH | GREG GAZIN

Greg Gazin is a syndicated tech columnist, blogger, podcaster, and contributes to canoe.com, Troy Media and Active Life magazine. gadgetguy.ca

REAL ESTATE PRO | BARBARA LAWLOR

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

STAT CHAT | BEN MYERS

Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

LEGALLY SPEAKING | JASON SCHWARZ

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. Visit online at schwarzlaw.ca or email info@schwarzlaw.ca with your questions, concerns, critiques and quandaries.

INDUSTRY REPORT | DAVE WILKES

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

SENIOR VICE-PRESIDENT, SALES, NEXTHOME

Hope McLarnon 416.708.7987 hope.mclarnon@nexthome.ca

DIRECTOR OF SALES, ONTARIO, NEXTHOME

Natalie Chin 416.881.4288 natalie.chin@nexthome.ca

SENIOR MEDIA CONSULTANTS

Amanda Bell 416.830.2911 amanda.bell@nexthome.ca

EDITORIAL DIRECTOR

Amanda Pereira

EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca

CONTRIBUTORS

Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Barbara Lawlor, Linda Mazur, Ben Myers, Jennifer Pearce, Lisa Rogers, Jayson Schwarz, Dave Wilkes

EXECUTIVE MEDIA CONSULTANTS Jacky Hill, Michael Rosset

VICE-PRESIDENT, MARKETING – GTA Leanne Speers

MANAGER CUSTOMER SALES/SERVICE

Marilyn Watling

SALES & MARKETING CO-ORDINATOR Gary Chilvers

BUSINESS DEVELOPMENT MANAGER

Josh Rosset

DISTRIBUTION distributionteam@nexthome.ca

ACCOUNTING INQUIRIES accountingteam@nexthome.ca

DIRECTOR OF PRINT MEDIA Lauren Reid–Sachs

VICE-PRESIDENT, PRODUCTION – GTA Lisa Kelly

PRODUCTION MANAGER – GTA Yvonne Poon

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR Hannah Yarkony

GRAPHIC DESIGNER Mike Terentiev

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NEW LOWRISE HOME SALES RETURN IN SOME AREAS AS JUNE REMAINS SLOW

Greater Toronto Area new home sales remained slow in June, hampered by high costs to build and other factors, but are showing early signs of recovery, according to the Building Industry and Land Development Association (BILD).

“GTA new homes sales remained weak in June,” says Edward Jegg, research manager at Altus Group, BILD’s official source for new home market intelligence. “Where we are seeing activity, new-home buyers are finding homes that meet their needs and that they can afford.”

Condominium units, including in low-, medium and highrise buildings, stacked townhouses and loft units, accounted for 732 units sold in June, down 61 per cent from June 2023 and 68 per cent below the 10-year average.

There were 607 single-family home sales in June, up five per cent from June 2023 and 38 per cent below the 10-year average.

Single-family homes include detached, linked and semi-detached houses and townhouses (excluding stacked townhouses).

Total new home remaining inventory increased compared to the previous month, to 21,158 units. This includes 17,391 condominium units and 3,767 single-family dwellings. This represents a combined inventory level of 14.5 months, based on average sales for the last 12 months. This remains a high inventory level, maintaining the trend seen since autumn 2023 of remaining inventory levels hovering near the 20,000 mark.

“Significant ongoing structural issues, notably the cost to build and lengthy approval timeframes, are hampering the ability for new projects to come to market – and limiting affordability,” says Justin Sherwood, senior vice-president of communications and stakeholder relations at BILD. “We are continuing

to see some sales return in select regions of the GTA, predominantly single-family homes and outside of the city of Toronto. However, the high costs of material, labour and land, combined with municipal fees (such as development charges) and slow municipal approvals, are adding unnecessary costs and delays to new projects. This in turn is causing price stickiness and acting like a brake to new projects. While interest rates will moderate over time, inaction on these structural barriers will have long term consequences to deliver new homes in the in the region.”

Benchmark prices decreased in June for both single-family homes and for condominium apartments compared to the previous year. The benchmark price for new condominiums was $1.02 million, down six per cent over the last 12 months. The benchmark price for new single-family homes was $1.61 million, also down six per cent.

RATE CUTS SPUR BUYER ACTIVITY IN JULY: TRREB

Greater Toronto Area home sales in July 2024 were up compared to July 2023, while buyers continue to benefit from more choice in the marketplace, according to the Toronto Regional Real Estate Board (TRREB).

“It was encouraging to see an uptick in July sales relative to last year,” says TRREB President Jennifer Pearce. “We may be starting to see a positive impact from the two Bank of Canada rate cuts announced in June and July. Additionally, the cost of borrowing is anticipated to decline further in the coming months. Expect sales to accelerate as buyers benefit from lower monthly mortgage payments.”

GTA realtors reported 5,391 home sales through TRREB’s MLS system in July 2024 – a 3.3-per-cent increase

compared to 5,220 sales reported in July 2023.

The MLS Home Price Index Composite benchmark was down by approximately five per cent on a year-over-year basis in July 2024. The average selling price of $1.10 million was down by 0.9 per cent over the July 2023 result of $1.11 million. On a seasonally adjusted monthly basis, both the MLS HPI Composite and the average selling price were up slightly compared to June 2024.

“As more buyers take advantage of more affordable mortgage payments in the months ahead, they will benefit from the substantial build-up in inventory,” says TRREB Chief Market Analyst Jason Mercer. “This will initially keep home prices relatively flat. However, as inventory is absorbed, market conditions will

tighten in the absence of a largescale increase in home completions, ultimately leading to a resumption of price growth.”

“Innovation in new home construction must continue,” adds TRREB CEO John DiMichele. “TRREB applauds Toronto City Council’s decision to consult with the province on adopting single egress stair requirements in the building code for multi-residential buildings up to four storeys. This would make it easier to create a variety of multi-family units large enough for families. Another important part of the housing formula is connection to public transit. We are very encouraged to hear that we are closer to an opening date for the Crosstown LRT and are looking forward to a firm announcement.”

GTA TO LEAD THE WAY AS PRICE GROWTH SET TO RETURN

Despite the spring housing market sitting in a holding pattern as buyers await interest rate reductions, the aggregate price of a home in Canada increased 1.9 per cent year-over-year to $824,300 in the second quarter of 2024, according to the Royal LePage House Price Survey. On a quarterover-quarter basis, the national aggregate price increased 1.5 per cent. And looking forward, the GTA will lead Canada when price growth resumes.

“Canada’s housing market is struggling to find a consistent rhythm, as the last three months clearly demonstrated,” says Phil Soper, president and CEO, Royal LePage. “Nationally, home prices rose while the number of properties bought and sold sagged; an unusual dynamic. The silver lining: Inventory levels in many regions have climbed materially. This is the closest we’ve been to a balanced market in several years.”

Despite the Bank of Canada’s move to cut the overnight lending rate by 25 basis points on June 5, from 5.0 per cent to 4.75 per cent, buyers did not immediately rush back to the market as initially expected.

“A change in monetary policy drives consumer behaviour in two important ways,” says Soper. “Lower rates mean lower monthly payments, opening the door to some families previously shut out of the market.

Secondly, is the psychological signal broadcast to sidelined buyers that the tide is turning, and that market activity is about to pick up again. Not surprisingly, the quarter-point cut to the bank rate didn’t substantially improve the affordability picture. As for consumer sentiment, our early year research indicated that only one in 10 potential homebuyers would be motivated by a tiny rate drop. The tale the market tells as rate cuts get to the point of a material reduction in the cost of borrowing should be a very different one.”

When broken out by housing type, the national median price of a single-family detached home increased 2.2 per cent year-overyear to $860,600, while the median price of a condominium increased 1.6 per cent to $596,500. On a quarterover-quarter basis, the median price of a single-family detached home increased 1.8 per cent, while condominiums increased 0.8 per cent.

GREATER TORONTO AREA

The aggregate price of a home in the GTA increased 0.9 per cent year-overyear to $1.19 million, in the second quarter of 2024. On a quarterly basis, the aggregate price of a home in the GTA rose 1.1 per cent.

Broken out by housing type, the median price of a single-family detached home increased 1.3 per cent year-over-year to $1.46 million

in the second quarter of 2024, while the median price of a condominium increased 1.4 per cent to $741,500 during the same period.

In Toronto, the aggregate price of a home decreased modestly by 0.5 per cent year-over-year to $1.21 million in the second quarter of 2024. However, the aggregate price of a home in Toronto increased 4.8 per cent quarter-over-quarter. The median price of a single-family detached home declined 0.9 per cent year over year to $1.76 million, while condominiums decreased 2.4 per cent to $711,500.

Royal LePage is forecasting that the aggregate price of a home in the GTA will increase 10.0 per cent in the fourth quarter of 2024, compared to the same quarter last year. The GTA is set to see the greatest price appreciation of all major markets.

GERANIUM AND GOLFNORTH ANNOUNCE NEW ESTATE-HOME COMMUNITY AT FERGUS GOLF CLUB

GolfNorth Properties and Geranium have announced the next chapter in Fergus and Belwood’s history of golf and real estate, with the rebranding of Fergus Golf Club as Belwood Golf Club, just steps from Geranium’s newest estate home community, Belwood Estates.

This decision in collaboration with Geranium, an award-winning Ontario homebuilder since 1977, signals an exciting combination of premier golfing and residential offerings in the Fergus-Elora area. Belwood Estates will feature bungalow and two-storey estate homes on half-acre lots just steps from the popular golf course. This will be a prime opportunity for residents to partake in the area’s established golfing culture and embrace its roots, while living in a luxury estate home community with the scenic golf course next door.

The partnership between GolfNorth and Geranium is a testament to the efforts both organizations are putting forth to enhance the area’s identity. While contributing to the overall expansion and development of the region, amplifying the heritage of the area remains a priority for both parties.

“Living in the Fergus-Elora area means being a part of a community rich in history, golf culture and lush surroundings,” says Boaz Feiner,

principal of Geranium. “Our estate homes are designed to enhance the lives of future and current residents, while also complimenting Belwood and its surrounding areas. With the creation of Belwood Estates, residents can embrace everything the region already has to offer, while in a beautiful two-storey or bungalow estate home.”

Belwood Golf Club has a vision to redefine the meaning of public golf, combining its local history as Belwood Lake Golf Club with a bold new direction under the expertise of renowned golf course architect, Doug Carrick. Carrick brings his unparalleled creativity and vision from his works at TPC Toronto, Calerin Golf Club, and Angus Glen, to transform

Belwood Golf Club into an attractive option for golfers of all levels.

The reimagined Belwood Golf Club promises a “challenging, interesting and fun layout in under four hours,” says Carrick. Featuring Carrick’s signature touch, the course presents an executive-style par-66 layout stretching over 5,200 yards, including eight par threes, eight par fours and two par fives.

As part of the revitalization, an all-new clubhouse will be built, designed to elevate the golfing experience at Belwood Golf Club. It will meet the high standards set by the new course layout and offer opportunities for tournaments, meetings and events while serving as a hub for social gatherings, meals and celebrations for golfers and the broader community.

Redevelopment of the golf course will begin this year, as will the sales of Belwood Estates. Belwood Estates represents Geranium’s commitment to providing an exceptional lifestyle for its residents offering thoughtfully designed floorplans, and maintaining an exceptional level of craftsmanship in every home it builds.

geranium.com

Artist’s concept.

Artist’s concept.

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LEGAL ADVICE

What is a Power of Attorney and what should it include? it might not be the most pleasant of tasks, but preparing your Power of Attorney and Will is a must. Here’s why.

BUILDER PROFILE

Lucchetta Homes building dream homes and enhancing active adult living in Niagara

The Niagara Region is emerging as a hotspot for growth, blending urban convenience with natural beauty, away from the hustle bustle of the GTA. For those seeking a slice of this lifestyle, local builders hold the key, especially those deeply rooted in the community. Builders such as Lucchetta Homes.

HOUSING MARKET

GTA to lead the way as price growth set to return

As buyers awaited interest rate reductions, the aggregate price of a home in Canada still managed to increase in the second quarter of 2024, according to Royal LePage. And looking forward, the GTA will lead Canada when price growth resumes.

HOME TECH

Upgrade your TV sound experience with the ZVOX AV355 Accuvoice sound bar

In the modern era of high-definition TVs and immersive entertainment, the struggle to hear words clearly amidst a cacophony of special effects and background noise is a familiar frustration for many. Fortunately, there’s a solution: The ZVOX AV355 AccuVoice Sound Bar.

WELLINGS OF WHITBY

In the ever-evolving realm of senior living, “Wellings of Whitby stands out as a beacon of active retirement living reimagined for a new generation,” says Natalie Tommy, vice-president of marketing for Wellings, by Nautical Lands Group. Spanning two phases, the community’s first phase is set to unveil this fall, offering 400 apartment suites and a myriad of amenities. Wellings beckons prospective members to embrace a lifestyle characterized by growth, connection,

convenience and a profound sense of community.

Wendy Jennings, community growth and leasing specialist for Wellings of Whitby, encapsulates the community’s spirit. “Think of Wellings as a fresh start within an active, interdependent community. The energy is palpable when members gather for social events, fostering a vibrancy unlike any other. We are eagerly anticipating the arrival of new members into the community.”

With an impeccable reputation for crafting exceptional residential solutions tailored for active adults aged 55 and above, Nautical Lands Group and Wellings Communities proudly present Wellings of Whitby as a flagship community. For more than two decades, Nautical Lands Group has dedicated itself to developing and managing senior communities across Ontario and Alberta. Kevin Pidgeon, partner and COO of Nautical Lands Group and

Wellings, expresses pride in their commitment to “create communities they would love to live in themselves, and with our member’s input, we are constantly innovating to enrich the living experience for members.”

Wellings communities include onestorey bungalow villas without food and beverage, midrise communities offering food and drink, and allinclusive models such as Whitby, Calgary and Ottawa offering extensive programming, food and beverage, and underground parking. Four more communities are set to open this year.

Conveniently located in Taunton Gardens, Wellings of Whitby promises a lifestyle centred around a holistic approach to aging. It offers fitness facilities and classes, multiple dining options, underground parking and ample communal spaces for

gatherings. The community provides convenience and vibrancy and is surrounded by additional services and retail outlets – all within walking distance of the front doors.

From meticulously designed apartment suites to member-led social programs, Wellings of Whitby is set to redefine the standard for active retirement living. Residents can enjoy a revolving monthly food and beverage credit, allowing them to dine as they please, entertain guests or indulge in onsite custom catering services.

General Manager Kevin Prendergast looks forward to curating dining experiences that blend elevated cuisine with comforting classics, ensuring a diverse culinary offering for members to savor. “Often, members submit recipes passed down through generations, and they

want to share their favorites with the community,” he says. “The memories bring smiles to so many; it’s a joy for us to share in the experience.”

Fitness and activity spaces, outdoor patios and concierge services enhance the living experience, promoting residents’ sense of belonging and well-being. Tommy says she is passionate about the world of Wellings. “Our residents’ goals drive every aspect of what we do and the services we offer. It’s a collective of what members love most about living with us; many express wanting to remain active and healthy for as long as possible. We offer many fitness classes, with programming exclusively designed for active adults at Wellings. These programs add to the vitality of the community and the health span of our members.”

A standout feature of Wellings is its concierge service, offering invaluable assistance with technology, transportation and package handling. Many members attest to the indispensable nature of this service, noting its integral role in enhancing their daily lives.

With a steadfast focus on holistic living and community engagement, Wellings of Whitby epitomizes a unique opportunity for seniors to thrive. Grounded in the aspirations of its members and championing independence and vibrancy, the community empowers residents to live life on their terms, whether exploring the bustling city or savoring moments of tranquility within their suites.

To explore carefree living at Wellings of Whitby, where you belong long before you ever need a retirement home, visit wellingsofwhitby.com, or contact Wendy Jennings at wendy@wellingsofwhitby.com, 905.243.1386 or at 372 Taunton Rd. E., Whitby.

IS YOUR HOME RENOVATION PROJECT

RUNNING LATE?

JAYSON SCHWARZ, LLM AND KELLY WONG

Is your project suffering from some of the following: Ceiling lights not installed; moldings unfinished; closet doors hanging off their hinges. There are several scenarios in which you could be entitled to compensation from your contractor, design professional or consultant.

Each party to home renovation or construction contract has certain duties and obligations. These duties and obligations are specific to the project delivery model chosen. The homeowner’s duties typically include financing the project and making payments (interim and final), maintaining access to the site, approving design drawings and materials, and not interfering with the means and methods of the contractor. Contractor duties usually include the following: Completing the work in a “good and workman-like manner” fit for purposes intended in accordance with the set schedule; identifying and obtaining required resources, including the workforce for the project; and determining the means and methods to complete the construction.

If these responsibilities are not executed properly by a party, the completion of a project is likely to be delayed. There are three categories of delays – excusable, compensable and non-compensable – depending on the party who is responsible for the delay, and each have varying remedies.

Excusable delays are caused by unexpected and inexorable external

forces, such as an international pandemic, a blockade or force of nature, such as a tornado. In these cases, because no party is responsible for the cause of the delay, there is typically no extra compensation unless specifically provided for in contract. The remedy is typically an extension of the construction schedule.

Compensable delays result in the contractor being compensated and are those caused by someone other than the contractor or other than someone under the contractor’s control (such as subcontractors). These can include owners or designers providing late drawings and the owner providing impeded site access. Remedies for compensable delays are dependent on whether a buffer has been written into the contract, but typically include extra compensation to the contractor as well as a schedule extension.

Non-compensable damages result in the customer being compensated and may include such things as the contractor supplying an insufficient

workforce or the work being done inefficiently. Depending on the scope of the project defined in the contract including the drawings and specifications incorporated by reference and whether a project has reached substantial completion, the contractor may be liable to you for damages and might have to accelerate completion of the project. It is essential that you retain a lawyer who understands construction contracts, project delivery models, and the Construction Act to ensure you are protected and compensated in the best way possible throughout your renovation journey.

Jayson Schwarz, LLM, is the senior managing partner of Schwarz Law Partners LLP, and Kelly Wong is a secondyear summer student attending Osgoode Hall Law School.

GUELPH

FUTURE READY, HERE AND NOW

by WAYNE KARL

Known as the “Royal City” for its historic connection to the British royal family, Guelph has been transitioning for years, from a small university town into one of the province’s fastest growing and well-balanced economies.

And that means growth, employment and opportunity.

Boasting a healthy local economy, with growing agriculture, education, healthcare and manufacturing sectors, Guelph continues to attract newcomers – yes, students attending the well-known University of Guelph – but also a skilled labour force and homebuyers looking for lifestyle and better affordability than in the Greater Toronto Area.

“Guelph is the perfect location for homebuyers seeking to make the most of life’s experiences,” Shelley Barclay, new home sales specialist at Terra View Homes, one of the area’s homebuilders, told Active Life Magazine. “From our expansive trails and waterways to internationally recognized arts and cultural events, to diverse restaurants and craft breweries, the Royal City has something for everyone.

“It’s one of Canada’s fastest growing communities, and boasts one of the lowest unemployment rates in the country,” she says.

Adds another local homebuilder, Mike Taylor, managing partner of

Granite Homes, “Guelph has a lot to offer to homebuyers, from its strong job market, particularly with institutions such as the University of Guelph, to a variety of recreational options in its numerous parks and trails. Guelph’s sense of community and relatively affordable housing compared to larger Ontario cities make it an attractive place to settle down. Additionally, Guelph is wellconnected by major highways and public transit, enhancing its accessibility.”

“A lot of what makes Guelph so appealing to homebuyers comes down to a combination of sustained development and a deep understanding of the community’s needs,” says Jennifer Muller, vicepresident of sales, marketing and culture, Reid’s Heritage Homes.

“We’ve been building in the area for more than 45 years, and we’ve seen firsthand how the city’s unique

blend of opportunities, from career prospects to community involvement, continues to draw people in. Guelph is a self-sustaining city with great proximity to major highways, making it an ideal location for those who value both convenience and quality of life. The presence of the University of Guelph plays a big role too, driving local innovation, creating jobs and fostering a vibrant student community. Add to that the relative affordability compared to the GTA, and it’s easy to see why so many are choosing to make Guelph their home.”

FROM PAST TO PRESENT

Innovation has always been part of Guelph’s history: The wire coat hanger was invented here in the 1920s; it’s where five-pin bowling was invented; a University of Guelph research team created the Yukon Gold potato; and the city was home to North America’s first cable TV system. Perhaps the most memorable, Colonel John McCrae, author of the poem “In Flanders Fields,” was born and raised in Guelph.

Respectfully, though, while celebrating the past is important, today, Guelph is all about progress. Indeed, local city-building and community development is guided by the Guelph. Future Ready Strategic Plan. Approved in 2019, the plan

Shelley Barclay, Terra View Homes

guided city council’s priorities and staff’s work towards making Guelph an inclusive, connected, prosperous city “where we look after each other and our environment.” In June 2024, the city released data that showed as of December 2023, 77 per cent of the strategic initiatives in the Future Ready plan were either completed or have been significantly advanced.

The city now looks ahead to the next stage with Future Guelph Strategic Plan for 2024-27, designed to build on the successes of the previous strategic plan.

Key to the city’s growth is an emphasis on advanced manufacturing, among the largest employers, as well as educational services, agri-food and biotechnology.

The renown University of Guelph, in fact, is one of Canada’s top comprehensive universities. The veterinary medicine program ranks first in Canada, third in North America and in the top 10 worldwide. U of G is ranked No. 5 in Canada in Maclean’s University Rankings in 2024 in the Comprehensive category, and tops in research dollars. The Ontario Agricultural College is ranked No. 1 in Canada for agricultural science and helps put the school 18th in the world for food science and technology.

Guelph benefits from a strong location, situated just north of Hwy. 401, affording easy access to Toronto in the east and London to the west. It also connects to Hwy. 7 for travel to Kitchener-Waterloo and Acton, and Hwy. 6 for access to Hamilton to the south.

HAPPY GUELPHITES

All of this has local residents feeling pretty good about life in Guelph. Nine in 10 Guelphites, in fact, feel they have a good quality of life, and are happy with City services, according to a June 2024 survey.

The survey, conducted between March 22 and April 8, asked residents to share information about satisfaction with the current level of City programs and services, views toward property taxes, overall decision-

making and priority-setting, equity in service delivery, customer service, communication, and their perception of quality of life in Guelph.

“The survey results show that the pressures of inflation, increased cost of living, and housing affordability are impacting Guelph residents, as is the case in communities all across Canada,” says Jodie Sales, general manager, Strategy Initiatives and Intergovernmental Services. “Despite these pressures, the satisfaction survey indicates that Guelph residents overall feel they have a good quality of life and are satisfied with the services provided by the City. We recognize there is more work to be done to continue improving services to the community in areas of affordable housing, equity and accessibility.”

Among the most important issues facing the city, according to the survey, are housing availability and affordability.

HOUSING MARKET

Like most housing markets in Ontario and elsewhere in Canada, Guelph has experienced some spotty results recently – but things are looking up.

Results from the Guelph and District Association of Realtors for June 2024 show that sales and prices were down from June 2023, but are showing signs of recovery, with plenty of choice for buyers.

“Sales activity may have declined from last June, but actually pulled together a surprisingly strong surge compared to the last several months,” says association President Dillon Fraser. “Whether this was simply a number of buyers finally taking advantage of the many great deals

available on the market, or sidelined homebuyers taking the Bank of Canada’s rate cut as a signal that rates are no longer climbing, remains to be seen over the coming summer months. Regardless of the reason, our inventories remain at above-average levels and prospective buyers should take note that the level of choice in the current market hasn’t been this plentiful in several years.”

The MLS Home Price Index was $816,100 in June 2024, a decline of 3.9 per cent compared to June 2023. The benchmark price for singlefamily homes was $915,300, down by 3.5 per cent on a year-over-year basis in June. By comparison, the benchmark price for townhouse/ row units was $676,000, a decrease of 3.5 per cent, while condos were $533,600, a reduction of 3.6 per cent from year-ago levels. The average price of homes sold in June 2024 was $917,879, a small reduction of 2.7 per cent from June 2023.

NEW HOME DEVELOPMENT

When it comes to city-building – in the literal sense – it appears here, too, Guelph is on the ball. In 2023, the city met 98 per cent of its housing target by starting 1,287 housing units out of its 1,320-unit target. This resulted in a $4.68-million grant from Ontario’s Building Faster Fund.

And, true to its official direction of caring for the environment, the city strives to make homes more energy efficient. The Guelph Greener Homes program, for example, is underway with more than 74 residential energy retrofit projects completed to date, another 73 under construction and more than 350 program registrants.

MEDIAN HOME PRICES, Q2 2024

“For more than 30 years, Terra View Homes has proudly been building award-winning communities in Guelph and surrounding communities – where we ourselves live, work and play,” says Barclay. “We believe that it is our responsibility to lead by example and practice environmentally conscious building. We were one of the first area homebuilders to build Energy Star homes, exclusively, and are now leading the way with Net Zero and other Green technologies. Today, all of our communities are built entirely to a Net Zero Ready standard. These homes are 80-percent more energy efficient than those constructed at the current regulated building code, helping homeowners greatly reduce their carbon footprint, utility bills and live a healthier lifestyle.”

True to the appeal of greater affordability in Guelph, Terra View, Granite and Reid’s all report a wide range of buyers, from those in search of larger homes for their growing families, and even younger first-time buyers.

“Our company is currently offering a vibrant community in Guelph called Argyle Village, which is perfect for first-time homebuyers and investors alike,” says Muller. “We’re providing a range of options, including urban stacked townhomes and rear lane townhomes, all located right in the heart of the city. The area is wellestablished with amenities, and it’s conveniently connected by great bus routes, especially in the south end of Guelph. The homes range from 800 to 1,500 sq. ft., catering to a variety of needs and lifestyles. We’re also excited about another upcoming community, Block on Clair, which has already generated a lot of interest and buzz. With so many options, we’re confident

+ LOCATION, LOCATION, LOCATION

Located in Southwestern Ontario; population 143,740; 95 km from Toronto; 22 km east of Kitchener-Waterloo

KEY LANDMARKS

• Basilica of Our Lady Immaculate

that buyers will find something that suits their needs in Guelph.”

“Our Northside community appeals to a wide range of homebuyers,” says Granite’s Taylor, referring to the company’s offering of twobedroom, two-bathroom stacked townhomes in North Guelph. “Young professionals are drawn to the modern, well-designed living spaces, while downsizers appreciate the convenience and low maintenance. First-time homebuyers are attracted by the relatively affordable pricing and the opportunity to enter the real estate market.”

SPORTS AND ENTERTAINMENT

When it comes to fun and entertainment in Guelph, in addition to plentiful trails and access to nature, Guelph also excels in the festivals department. The renown annual Hillside Summer Festival and Hillside Inside are three-day, multi-stage events hosting musicians, spoken word artists and other workshops, on Guelph Lake Island. This year’s event, held July 19 to 21, featured accomplished Canadian musicians Blackie and the Rodeo Kings, and Ashley MacIsaac.

In the heart of the historic downtown area, Sleeman Centre serves as Guelph’s premiere venue for sports and entertainment. The 5,000seat facility hosts sporting and family events, trade shows, conferences, large-scale concerts and public ceremonial events, and notably is home to the Guelph Storm of the Ontario Hockey League.

The city also has Guelph Little Theatre, Guelph Concert Theatre and River Run Centre.

• Gow’s Bridge

• Riverside Park

• The Sleeman Centre

• University of Guelph

• University of Guelph Arboretum

• Wellington Brewery

SELECT HOUSING DEVELOPMENTS

ARGYLE VILLAGE | GUELPH By Reid’s Heritage Homes

Stacked and rear lane townhomes reidsheritagehomes.com

BELWOOD ESTATES | FERGUS By Geranium

Bungalow and two-story estate homes in golf community geranium.com

HART VILLAGE | SOUTH GUELPH By Terra View Homes

Net Zero Ready semis, move-in ready and pre-construction 30-ft. singles, 40and 45-ft. conservation lots terra-view.com

NIMA TRAILS | NORTHEAST GUELPH By Terra View Homes

Move-in ready and pre-construction 36.7- and 40-ft. Net Zero Ready singles terra-view.com

NORTHSIDE | NORTH GUELPH By Granite Homes

Two-bedroom, two-bathroom stacked townhomes granitehomes.ca

MOFFAT CREEK | EAST GALT By Terra View Homes

Premium Net Zero Ready singles on 36-ft. walkout conservation lots and 38ft. walkout and lookout lots on private cul-de-sac terra-view.com

SOUTH RIVER | ELORA By Granite Homes

Townhomes and single-detached homes granitehomes.ca

THE BIRCHES | EAST GALT By Granite Homes

Farmhouse style townhomes granitehomes.ca

Mike Taylor, Granite Homes

Jennifer Muller, Reid’s Heritage Homes

ZONING 101

HOW ZONING AND BUILDING CODES CAN IMPACT YOUR HOMEOWNING EXPERIENCE

MIKE COLLINS-WILLIAMS

There is a lot to consider when purchasing a home; open houses, offer placements, inspections, contracts, closing deadline, and much more, on top of the work that goes into homeownership. An oftenoverlooked aspect of the homebuying and homeowning experience is a complex municipal document called the Zoning Bylaw, and a provincial regulation known as the Ontario Building Code.

In Ontario, zoning has its origins in the late 19th early 20th centuries. The province allowed cities to regulate how landowners used their land, preventing proximity between industrial and residential uses. Today, municipalities use Zoning Bylaws to divide the city into specific zoning codes; they control all aspects of development from height and density to parking requirements and minimum landscaping in front yards. The province and municipalities also enforce the Ontario Building Codes, regulating building materials and specific construction requirements.

In Hamilton, there is a plethora of rules that dictate what is permitted and restricted on land. For example, in most of the R1 residential zone, single-detached dwellings must be below 10.5m and must be at least 7.5m from the rear property line. In addition, home-based businesses such as barbers and hair salons are

limited to a single chair. Zoning can be amended through several processes, including minor variances and zoning amendments, which must be applied for and approved by the city through a public process. Cities also have sign, fence and pool bylaws that must be consulted.

These elements are further regulated by the Ontario Building Code – a more than 800-page document that dictates everything from sprinkler systems to window materials. Building permits are also required for many renovations; working with a licensed contractor ensures the proper permits are acquired and the work is completed in a proper manner. Running afoul of these rules may result in visits from municipal by-law enforcement, who can cease construction, require rectification of issues at the homeowners’ expense, or issue fines.

There are various other regulations, laws and policies homeowners may wish to be aware of; municipal Official Plans; heritage restrictions

under the Ontario Heritage Act and municipal by-laws; restrictions on construction in flood-prone areas, enforced by Conservation Authorities; holding provisions placed on the legal title of homes requiring certain work to be completed before development can proceed; and many more.

When purchasing a home, do your research, contact your municipality, consult with your realtor and lawyer, and consider speaking with an urban planning consultant and contractor if you are planning major renovations, additions, garages, decks, pools, rebuilds or a change in use. By purchasing a home with all the facts on hand, the experience of homeownership can go just a little bit smoother.

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

GROW YOUR OWN COLOUR

MARK AND BEN CULLEN

We know many Canadians who travel our country in search of autumn colour during the fall time of year. Gardeners would be well advised to take a trip to the kitchen and have a gander out the window. What can you do to lift the appearance of your garden during this season? Many of the winter hardy plants that we take for granted during the “gardening season” are fabulous autumn performers. Check out this list below and consider adding a splash of colour to your garden this

fall and in coming years as these trees and shrubs mature right in your own backyard.

FLOWERING SHRUBS

Saskatoon Serviceberry (Amelanchier alnifolia). A native plant that produces wonderfully vibrant apricot-redyellow leaves in late September and October. The flowers in spring are always welcome as they arrive early (late April) and the berries are a favourite of many song birds mid to late summer. Serviceberry matures to about five metres.

Amur Maple (Acer ginnala). Is it a shrub or tree? Let it grow long enough and you have a wonderful smallish tree. Trim it down and you have a shrub that can be trained

to stand about two metres. Not a bad hedge either. Bright red each fall in October.

Japanese Maple (Acer palmatum). Interesting – a red Japanese maple becomes more red in the fall. A green Japanese maple will turn either yellow or red, depending on the variety – and there are many of them.

TREES

Birch (Betula spp.). If yellow is the colour that you are looking for, this tree is for you. Do not buy a European birch as they are the most susceptible to the dreaded and deadly bronze birch borer. However, many of the native species are resistant, great looking (even if the bark turns white a bit later), and they are good urban

landscape trees – but not great street trees, as they hate salt.

Maidenhair Tree (Ginkgo biloba). The oldest tree known to humankind has an interesting pedigree. Fossilized leaves told archaeologists that this tree existed at the time of the dinosaurs. It was thought to be extinct for many years until one day, in 1854, a European found one in the courtyard of a Buddhist monastery in the middle of China. It was brought back to Europe and bingo, now it is widely planted around the world. Very winter hardy, great yellow fall colour. No insects or disease will give you trouble with this one. Slow to get established but a wonderful permanent addition to your tree collection. Ask for a male tree, as the females can be a bit messy.

Douglas Maple (Acer glabrum var. douglasii). For all intents and purposes, we will call the Douglas maple a tree, albeit a short one, growing to about nine metres. Prune away bottom suckers to encourage a more tree-like appearance. A great option for wet areas that receive a fair amount of sunlight. The Douglas maple is noted for its fall colours, showing off brilliant reds, oranges and yellows. Like many other maples, the

fall colours vary drastically from tree to tree, so plan on planting a few for a dramatic effect.

Black Cottonwood (Populus balsamifera ssp. Trichocarpa). Also known as the western balsam poplar, the black cottonwood is the west’s tallest native broadleaf tree. And growing to 60 metres, it’s no small thing. Requiring sufficient moisture, the cottonwood will do well in floodplains and moist upland sites where nutrients are plentiful. As for

their fall colour, you’ll be pleasantly surprised by the vivid yellows that turn orange and bronze as the season carries on. If you have the space, we encourage you to plant one of these large hardy trees.

It is interesting to note that leaf colour that becomes very evident come fall is not so much a “change” of colour, but rather the reversion of the leaf to its original colour. As the chlorophyll production stops, each leaf shows its true colours.

Whatever the reason for this magnificent natural show that occurs annually, we urge you to take a moment to remind yourself that people travel from all corners of the world to see what we have growing in Canada.

Mark Cullen is a Member of the Order of Canada. He reaches more than two million Canadians with his gardening/ environment messages every week. Receive his free monthly newsletter at markcullen.com Ben Cullen is a professional gardener with a keen interest in food gardening and the environment. You can follow both Mark and Ben on Twitter @MarkCullen4, Facebook @MarkCullenGardening and Pinterest @MarkCullenGardening.

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EKSATELECOM WIRELESS

HEADSET

When it comes to tuning in to music or podcasts, let’s be real – most earbuds aren’t exactly a joy, especially if you’re settling in for a long session. And those bulky over-ear headphones? They can turn your ears into a sauna and won’t even warn you about what’s happening around you. And when making or taking calls, it’s hardly a pleasure for either party even if you are in your car on your hands-free, due to all the external unwanted noise.

It may not surprise you that the new EKSAtelecom S30 True Wireless Air Conduction Headset, an innovative solution, was inspired and designed with truckers in mind. Comfortable for all-day wear, it eliminates up to 99.9 per cent of unwanted ambient sound, while keeping you fully aware of your environment.

There’s no doubt the cabin of a big rig can be noisy, so can driving to and

from work, ambient building sounds, mall and stadium crowds or TVs blaring, family chatter to name a few.

AI POWERED NOISE CANCELLATION

The breakthrough to its crystalclear communication stems from EKSAtelecom’s VoicePure

Environmental Noise Cancellation (ENC) Technology. It incorporated AI-powered algorithms into the S30’s four built-in beam-forming noise-cancelling mics. Basically, it listens to the audio – human voice and environmental sound, then dynamically detects and directs what

GREG GAZIN

audio needs to be heard and what noise needs to be suppressed before it reaches the listener.

OPEN-EAR DESIGN

The S30’s open-ear design differs from typical earbuds that go inside your ears. It allows you to hear calls, music or podcasts while also enabling you to hear what’s around you, which can be handy when speaking to a clerk at the store, hearing a honk of a horn or being alerted of impending danger.

ON-EAR CONTROLS

The adjustable mic boom can be worn on either the left or right side for your convenience. Simply wrap each earbud around your ear with the adjustable hook and position the speaker where it fits comfortably and sounds best for you. I find them so comfortable, even wearing glasses, I sometimes forget I have them on.

Additionally, each earpiece features a single multifunction control button for pairing, call and music control. One neat feature is that one side adjusts the volume up, while the other adjusts it down. You can also use a single earpiece for calls, and some functions can be accessed from a control button on the cradle while your S30 is recharging.

There’s a separate mic button conveniently located on the back side of the boom arm to power the mic or mute for privacy mode.

ALL-DAY BATTERY LIFE

AND BLUETOOTH 5.3

The S30 offers an up to an impressive nine hours of talk time or 16 hours of music on a single charge, with up

to 70 hours total with a fully charged cradle which also has its own battery. An audible “low battery” alert will remind you every five minutes when you’re down to your last 30 minutes of charge. If you’re in a pinch, charging it for just five minutes will keep you going for about an hour. Recharge time is about two hours.

The S30 also features the latest Bluetooth 5.3, so it works from up to 30m (99 ft.) away from your device, allowing you to be out in the garage, or potentially even be next door and still take calls. It can also be paired with up to two devices, so you can easily switch between your smartphone and computer.

REAL-WORLD USAGE

As someone who takes a lot of calls and spends many hours listening to podcasts, the noise reduction and reduced ear fatigue are certainly a gamechanger. And while the incorporation of AI is new industrywide, along with the innovative design, the results are somewhat impressive.

To illustrate the power of the EKSA’s ENC, standing on a windy street corner, the noise from the elements was barely perceived. Taking the call inside, powering up and standing in front of a noisy Instant Pot air fryer, the person listening from their car heard a barely noticeable noise, but mostly because they were listening for it. They’re also splashproof, so a little rain while out for a walk won’t hurt either.

The ability to isolate the noise is not perfect, but pretty amazing. In a food court next to a video arcade in a large shopping centre, I encountered a few instances where the noise cancellation caused some distortion due to piercing sounds – but in all fairness, then that’s not really a place you’d want to take calls, anyway.

By definition, any open-ear headsets do not plug up your ears completely. So, while you might be able to crank up the volume to catch your tunes or calls in a bustling stadium, you may want to opt for a different solution when you’re mowing your lawn.

FINAL THOUGHTS

Overall, the EKSAtelecom S30 is perfect for anyone who wants a great sound and listening experience along with clear calls and comfort anywhere, anytime. You can enjoy hours of uninterrupted use all without worrying about battery life. It uses AI technology to block out background noise, so you can hear and be heard, even in noisy places. It’s easy to wear and control, making it great for those who want hassle-free communication and enjoy life.

It comes with a protective zippered case for the headset, charging cradle, EVA pouch and USB-C cable. It’s available directly from eksatelecom. com and currently sells for $211 plus import charges.

Greg Gazin is a syndicated tech columnist, blogger, podcaster, and contributes to canoe.com, Troy Media and Active Life magazine. gadgetguy.ca

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GTHA HOUSING MARKET

NAVIGATING

THE GTHA HOUSING MARKET

The Bank of Canada did what we all hoped on July 24 – instituting its second consecutive interest rate cut, reducing the policy rate by 25 basis points to 4.25 per cent.

From all accounts – or at least those of many economists and financial experts – it was a merely a formality that BoC would again reduce the influential overnight rate.

The hope now is that the move kicks off a notable pick-up in homebuying –and building – activity. Moreover, the thinking now is that the reduction on July 24 might just be the beginning.

“There could be three more drops this year,” says Jesse Abrams, cofounder at Homewise, a mortgage advisory and brokerage firm. “Meaning that rates could be down one per cent from the beginning of the year, and potentially more.”

by WAYNE KARL

Debbie Cosic, CEO and founder of In2ition Realty, agrees, saying she’s hoping for at least another half to one full point reduction.

“We need significant cuts, bringing us in the four- to five-per-cent lending range,” she told Active Life “Keep in mind it’s not only the high rates, but it’s also the stress test that is deterring people; they simply are not qualifying for mortgages, as they have to qualify for two per cent above the going rate.”

“Our research shows that many buyer hopefuls have been waiting for a concrete signal from the Bank of Canada that the economy is moving in the right direction,” says Karen Yolevski, COO of Royal LePage Real Estate Services Ltd. “A second cut to the overnight lending rate indicates just that, and with mortgage

qualification thresholds continuing to come down, sidelined buyers may have the confidence they need to make their return to the housing market. We expect this will prompt a slight boost in activity in the shortterm, followed by more robust buyer demand in the fall. In the meantime, some much-needed inventory has been building in major markets over the last few months, giving buyers more options to choose from. In addition to lower rates, this may also encourage more buyers to re-enter the market in the near future.”

Following this latest rate reduction, Cosic has some direct advice for would-be homebuyers. “Jump in ASAP and grab the incredible deals that are available in pre-construction. We have not seen this in decades. There are developers offering 1.99 per

cent for three years. For example, The Grand at Universal City in Pickering. This gives you not only mortgage assurance, but the low price that is currently being offered in the marketplace.”

But, Abrams adds, do so cautiously. “You date your rate and marry your home. Don’t make a home purchase based on current rates. Many buyers are saving a lot more money based on the higher rates, but with lower home prices. So, if you are someone considering buying a home within the next two years, get a pre-approval and find a great realtor, then start looking at homes. You may find the perfect home at a price you didn’t expect.”

And, as Cosic says, the potential bargains apply not just to resale, but to pre-construction as well.

On the off chance that the Bank did not lower rates on July 24, her advice would be the same. “We know rates are heading downwards over the next six to 12 months. And as rates drop, there will be fewer promotions by developers. Always buy low and wait for the market to come back. This is the perfect opportunity to jump on these amazing incentives and low prices. They will not last.”

INFLATION AND INTEREST RATES

Despite the caution that interest rates and inflation have imparted on the housing market, home prices still found a way to increase in the second quarter this year. The aggregate price of a home in Canada increased 1.9 per cent year-over-year to $824,300, according to the Royal LePage House Price Survey. On a quarter-overquarter basis, the national aggregate price increased 1.5 per cent.

For the last two years, the national housing market has seen home prices fluctuate between modest declines and increases – with some regional exceptions – as a result of the impacts of higher interest rates. As the Bank of Canada navigates the balance between lowering the key lending rate and keeping inflation in check, some segments of Canada’s housing market have stalled.

According to Statistics Canada, Canada’s inflation rate fell to 2.7 per cent in June, after rising to 2.9 per cent in May, which was up from 2.7 per cent in April. When shelter costs are removed, that figure dips to 1.5 per cent.

INCREASED BORROWING COSTS SLOW NEW HOME CONSTRUCTION

Elevated borrowing rates not only dampen housing market activity, but also the construction of new homes, Royal LePage points out. Builders, which rely heavily on lending, were finding it difficult to finance new projects, exacerbating the shortage of housing at a time when our population continues to grow.

Another expert, Ben Myers, president of Bullpen Consulting, a boutique residential real estate advisory firm based in Toronto, sums it up well: “The market is significantly challenged today, but population growth is near record highs. Future supply will be constrained, and interest rates are expected to decline over the next couple of years. There are signs of a future recovery, and buyers that understand the market and its direction in specific pockets of the Ontario new housing market will be handsomely rewarded.”

How can you better understand and navigate the Greater Toronto and Hamilton Area housing market? Let’s look at some of the other factors:

“Canada’s housing market faces pent-up demand after two stifling years of high borrowing costs,” says Phil Soper, president and CEO, Royal LePage. “While inflation control is crucial, persistently high rates are increasing the risk of a surge in demand when buyers inevitably return. New household formation and immigration keep fuelling the need for housing, and a sudden release could create much market instability. This highlights the need for a more nuanced approach that balances inflation control with economic vitality.”

“Gradual interest rate reductions could unlock a housing supply logjam,” says Soper. “Lower rates would not only empower buyers but also incentivize builders, who rely on borrowing for development. This is crucial to meet the diverse needs of our growing population. We need affordable options for first-time buyers, growing families and downsizing retirees. Incremental rate adjustments are key to achieving a balanced and inclusive housing market.”

GTA WILL LEAD THE WAY

After all the uncertainty and challenges in the market, Royal LePage is still forecasting significant home price growth for Canada in 2024, with the GTA leading the way.

2024 MARKET SURVEY FORECAST

The realty firm is forecasting that the aggregate price of a home in Canada will increase 9.0 per cent in the fourth quarter of 2024, compared to the same quarter last year. Nationally, home prices are forecast to see continued moderate price appreciation throughout the second half of the year.

For the GTA, Royal LePage is forecasting that the aggregate price of a home will increase 10 per cent in the fourth quarter of 2024, compared to the same quarter last year. This is the highest price appreciation of all major markets.

ECONOMIC METTLE

The International Monetary Fund recently upgraded its forecast for the Canadian economy, projecting it will grow by 1.3 per cent this year and by 2.4 per cent in 2025.

For 2025, Canada is projected to be the fastest growing economy among the G7 and other advanced economies. The U.S. economy will rank second at 1.9 per cent and the U.K. third at 1.5 per cent growth next year.

Moreover, IMF says, as global inflation continues to decline this year and in 2025, Canada’s monetary policy has positioned it to exceed the performance of the U.S. and other countries in this regard.

WHY ALL THIS MATTERS

Dave Wilkes, president of the Building Industry and Land Development Association (BILD), in his column on page 50, writes that GTA residents are growing increasingly concerned about housing affordability. A recent public opinion survey showed that 90 per cent of people in the GTA agree there is an affordability issue, and 72 per cent of agree that there is not enough being done to address it.

Another report, this one from the Centre for Urban Research and Land Development, examining Statistics Canada’s latest estimates of net intraprovincial migration flows, shows a quest for more affordable housing plays a significant role in the movement of Ontario residents between municipalities.

Three municipalities in the GTA accounted for all the net outflow of residents within the province in the 12 months ending July 1, 2023: The city of Toronto (51,508); Peel region (40,934); and York region (6,249) for a total net outflow of 98,600 persons.

In contrast, the net inflow of residents within the province was much more dispersed – the three top recipients were Greater Golden Horseshoe (GGH) municipalities: Simcoe County (12,782), Durham Region (10,416) and Niagara Region (8,213). They accounted for just 32 per cent of the province’s intraprovincial migration in 2023.

It is anticipated that the continued dispersal of GTA residents will occur as they search for the type and price of housing they can afford elsewhere in the GGH and other parts of the province, the report says.

HOMEOWNERSHIP A PRIORITY, STILL AND ALWAYS

A recent survey by TD Bank Group underlines that despite an everevolving homebuying market, Canadians’ desire to own a home remains steadfast. Seventy-four per cent of prospective homeowners surveyed still feel hopeful that they will be able to purchase a home in the next five years. More than half (58 per cent) of these prospective buyers, though, admit it will likely take them at least two years to be in a financial position to do so.

To achieve homeownership, 56 per cent of prospective buyers surveyed said they are reducing their non-essential expenses, 52 per cent are planning to invest more of their

money, 32 per cent are planning to work with a financial professional to develop a plan for homeownership, and 23 per cent are taking out loans. Eight per cent of prospective homebuyers appear to be tapping into the rising trend of the “modern homeowner” by looking to purchase property with someone who is not their partner, such as a friend or family member.

BANK OF GRANDMA AND GRANDPA

You’ve heard of the Bank of Mom and Dad? Well, the team of familial assistants may now also include grandparents. A new poll from RBC shows that Canadian grandparents are finding themselves caught in a money squeeze, as the high cost of living is having a large impact on both their own finances and the financial support they’re providing to two generations – their adult children and their grandchildren.

The 2024 RBC Family Finances Poll – Grandparents Edition, says 21 per cent are currently supporting at least one adult child aged 25 plus, and 30 per cent have provided money to their grandchildren.

Poll findings indicate that many grandparents support their grandchildren with everyday living costs (30 per cent), second only to education expenses (39 per cent).

“While it’s not unusual for grandparents to provide financial assistance to younger generations, the dramatic difference today is this support has become a necessity, rather than simply a desire to help,” says Craig Bannon, director, Financial Planning Centre of Expertise, RBC.

GTHA HOUSING MARKET

MID-YEAR UPDATE:

UNDERSTANDING THE SHIFTS IN REAL ESTATE

JENNIFER PEARCE

As we hit the mid-year mark, it’s appropriate to take stock of the latest trends in the GTA real estate market, and look ahead to what’s in store for the rest of the year.

Despite a recent rate cut from the Bank of Canada in June, many buyers are still holding back and waiting for more cuts before diving in. In June, we saw a dip in home sales, with 6,213 homes sold, a 16.4-per-cent drop from June 2023.

PRICE AND LISTING TRENDS

Home prices have slightly dipped. The average price now stands at $1.16 million, down by 1.6 per cent from June 2023.

HOME TYPE PRICE BREAKDOWN

• Detached homes: $1.48M

• Semi-detached: $1.10M

• Townhouses: $931,490

• Condo units: $727,861

The GTA housing market is currently well-supplied. Recent homebuyers are benefiting from more choice and negotiating power on price. There were 17,964 new listings in June, which is up 12.3 per cent over last year.

WHAT’S NEXT?

Looking ahead, the future of the GTA market hinges on further rate cuts and economic adjustments. As borrowing costs decrease, sales are expected to pick up again. Long-term demand remains robust, driven by strong population growth and Ontario’s ambitious goal to build 1.5 million new homes by 2031. Achieving this will require cutting red tape and

reducing financial barriers for home construction.

For more on the state of the market, check out our monthly Market Watch. We break down prices, sales and new listings each month with an easy to glance report.

Visit trreb.ca for the latest look into the housing market and to connect with a TRREB member realtor.

Jennifer Pearce, TRREB President, is a Broker and Owner with ReMax Rouge River Realty Ltd., a family owned and operated brokerage. She is a secondgeneration realtor and has been licensed since 2000. trreb.ca

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4 REASONS WHY HOMEOWNERSHIP REMAINS A SMART INVESTMENT FOR CANADIANS

JESSE ABRAMS

It’s no secret that the Canadian housing market has faced challenges over the past couple of years. Interest rates have risen, inflation has persisted and everything seems more expensive than ever. The good news is that there are signs of improvement. We recently saw a decline in interest rates in June, marking the Bank of

Canada’s first rate cut since March 2020. Also, home prices have been declining across the country, making homebuying more palatable for many. Despite the economic conditions, the truth remains that buying a home and investing in real estate continues to be an often smart, long-term investment for Canadians both personally and financially.

1. GROW YOUR WEALTH THROUGH EQUITY

As a homebuyer, you gain one of the most significant advantages to

grow your future wealth – the ability to build equity over time. When you rent, your monthly payments go to a landlord, but with a mortgage, these payments help you contribute to owning a valuable asset. As you continue to pay down your mortgage, the difference between your home’s value and what you owe on it – your equity – increases. Over time, the equity you build can serve as a financial safety net that enables you to borrow against it for major expenses or to fund future investments.

The type of mortgage you get is very important, as it can affect how quickly you build equity and the overall cost of your home. At Homewise, our mortgage advisors spend a great deal of time with Canadians to understand their shortterm and long-term financial goals to ensure they get the right mortgage that suits their vision for their financial future.

2. POTENTIAL FOR PROPERTY VALUE APPRECIATION

While the real estate market experiences ups and downs, Canadian property values have a long history of trending upwards. Although recent years have shown market fluctuations, particularly since the start of the pandemic, the overall trajectory remains positive over the long term. Owning a home represents a wise long-term investment, with the potential for significant returns when it’s time to sell. The increase in your home’s value can substantially enhance your net worth and offer financial stability for retirement and other important life milestones like a child’s post-secondary education or a vacation property. Important to note, that this is a long-term strategy, not a “get rich quick” situation in most circumstances. As Canada’s population continues to grow, the supply vs demand curve should continue to see home prices rise over the long-term.

3. ACCESS TO TAX BENEFITS

In Canada, owning a home offers several notable tax benefits. For instance, when selling your primary residence, you may qualify for the principal residence exemption, allowing you to avoid capital gains tax. Additionally, various home improvements and energy efficiency upgrades might be eligible for tax credits or rebates, helping to further reduce your overall tax burden. Furthermore, property taxes and mortgage interest can often be

deducted from your tax bill, providing additional financial relief.

If it’s your first home, you also have access to the Home Buyer’s Plan, allowing first-timers to withdraw up to $35,000 from their Registered Retirement Savings Plan to use towards their downpayment. This is all without paying taxes on the withdrawal, provided the funds are paid back within 15 years.

4. MORE STABILITY AND PERSONAL FREEDOM

Owning a home provides significantly more stability compared to renting. As a homeowner, you’re not affected by sudden rent hikes or the possibility of your landlord deciding to sell the property. This stability enables you to make long-term plans, both financially and personally. Additionally, homeownership grants you full control over your living space. You have the freedom to renovate, decorate or landscape your property

according to your preferences and lifestyle, all without needing anyone’s approval.

Despite the challenges in the Canadian housing market, homeownership remains a positive, long-term financial decision. With prices dropping, it could be a good time to start your process of consideration. With benefits such as growing equity, potential property value appreciation, tax advantages and increased stability, owning a home – with the right mortgage –continues to offer a range of financial and personal benefits.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com

GTHA PRE-CONSTRUCTION HOUSING:

THRIVING

THROUGH ECONOMIC UNCERTAINTY

DEBBIE COSIC

The Greater Toronto and Hamilton Area (GTHA) pre-construction housing market has demonstrated remarkable resilience over the years, amid economic uncertainty. Despite fluctuations in the broader economy, this sector continues to attract buyers and investors. Understanding the factors contributing to this resilience can provide valuable insights for prospective homeowners and real estate investors.

STRONG DEMAND AND URBANIZATION

The GTHA has experienced consistent population growth due to immigration and domestic migration. As a major economic and cultural hub, the GTHA attracts a diverse array of people seeking job opportunities, education, and a high quality of life. This influx of residents sustains a strong demand for housing, including pre-construction projects.

Urbanization trends also play a crucial role. With limited land available for new lowrise developments within the city, vertical growth through condominiums and highrise buildings becomes essential.

Pre-construction projects cater to this demand, offering modern, welllocated housing options that appeal to young professionals, families and downsizers.

INVESTMENT APPEAL

Pre-construction properties in the GTHA have long been considered a sound investment. Buying a property before it is built often allows purchasers to secure it at a lower price than a completed unit, potentially resulting in significant appreciation by the time construction is finished. Investors are particularly attracted to this model, as it offers a way to capitalize on the

steady appreciation of real estate in the GTHA.

Moreover, pre-construction projects often come with attractive deposit structures, allowing buyers to spread out their payments over the construction period. This financial flexibility is appealing, especially during times of economic uncertainty when parting with large sums of money may be challenging.

In additional to flexible deposits, we are seeing incentives that we haven’t seen in decades. Chestnut Hill Developments just rolled out a 1.99-per-cent, three-year vendor take-back mortgage at The Grand, the fifth building in its Pickering master-planned development –Universal City.

ECONOMIC DIVERSIFICATION AND JOB MARKET

The GTHA’s diverse economy provides a buffer against economic downturns. With strong sectors such as finance, technology, healthcare and education, the region can better withstand economic shocks compared to areas reliant on a single industry. This economic stability supports a healthy job market, ensuring continued demand for housing.

Even amid global economic uncertainties, such as those brought about by the COVID-19 pandemic, the GTHA has shown resilience. Remote work trends have increased

“ ” The current market dynamics provide opportunities to secure desirable units at competitive prices, setting the stage for future financial growth and stability.

the demand for flexible living arrangements, often found in preconstruction condominiums offering modern amenities and convenient locations. As interest rates begin to decline, we expect to see the real estate market demonstrate the same resilience it has shown in the past. Lower interest rates can stimulate buyer activity by making mortgages more affordable, potentially leading to increased demand and stability in property values. This resilience will likely bolster investor confidence and encourage more transactions, reinforcing the long-term strength and appeal of the real estate sector.

LONG-TERM VISION IS KEY

Buyers of pre-construction properties often have a long-term vision. They are less affected by shortterm economic fluctuations and are more focused on the potential growth and appreciation of their investments over several years. This long-term perspective helps sustain the market even during periods of economic uncertainty.

Developers, too, plan with a long-term vision. By focusing on high-quality projects in strategic locations, they ensure their developments remain desirable and valuable. This careful planning and execution contribute to the ongoing resilience of the pre-construction housing market.

If you have the capital, now is an ideal time to enter the pre-construction market. The current market dynamics provide opportunities to secure desirable units at competitive prices, setting the stage for future financial growth and stability.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

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HOW TO LOOK AT THE NEW HOUSING MARKET TODAY

The Ontario housing market has undergone significant changes in recent years, characterized by fluctuating prices, shifting demand and evolving trends. There was a period of inactivity and plunging rents during the early part of the pandemic, followed by surging sales and pricing in 2021 and early 2022, and then very slow transaction activity and falling values in 2023 into 2024. The current landscape presents both challenges

and opportunities for new home buyers and investors.

In terms of new housing activity in the Greater Toronto and Hamilton Area (GTHA), single-family home prices have seen a dramatic decrease, dropping 31 per cent from the 2022 market peak to an average of $1.7 million. Similarly, condo asking prices have fallen by 27 per cent since their peak two years ago, and townhouses have experienced a 24-per-cent decline from early 2022.

There are many people proclaiming that, due to these drops, the market for low-density housing is now oversupplied. However, a long-term price trend shows a different story. The average price for a single-family

home in the Census Metropolitan Area (CMA) has increased significantly over the last quarter-century, rising from $275,000 in 2000 to $1.39 million in 2023 according to data from CMHC on absorptions. This increase reflects the persistent demand and limited supply in the market, which has seen a drop in single-family completions from 25,000 in 2002 to just 6,000 in 2023.

In specific regions, such as Brampton and Vaughan, there were significant price increases in singlefamily homes during 2021 and 2022, followed by declines in 2023 and 2024. For example, Brampton saw increases of 24 and 51 per cent in 2021 and 2022, respectively, before

BEN MYERS

dropping seven per cent and 12 per cent in the subsequent years.

The lack of new single-family houses being built has pushed demand into the highrise market, which accounts for the majority of the new home activity.

The condo market in the Greater Toronto Area (GTA) also presents a mixed picture. While new condo price declines have been relatively small, the reduction in prices is constrained by the limited room developers have to lower prices further and still be profitable enough to qualify for construction financing. In Toronto, prices decreased slightly from $1,617 per sq. ft. (psf) in 2022 to $1,583 psf in 2024. However, it should be noted that these prices are not net of incentives, which have been very prevalent over the last two years.

Suburban condo prices in the GTA dropped by 2.6 per cent annually in 2024, while the Hamilton area experienced a 3.2 per cent year-overyear decline.

New home sales have dropped significantly, as buyers see an abundance of resale listings and assignment opportunities. New apartment completions in the Toronto CMA reached 36,763 units over the past 12 months, surpassing the 10-year average of 22,100 units. However, the number of apartment units under construction is starting to decline, falling from 94,000 to 88,000, though this remains above the long-run average of 63,500 units.

As sales slump, construction starts do not occur, and the number of units under construction declines, we can see a period in 2027 and 2028 where the market is significantly undersupplied. This is where the potential opportunities exist for investors, buying at the right price today, in a project with expected occupancy in late 2027 and into 2028.

Alan Leela from Vantage Developments was a guest on the Toronto Under Construction podcast where he mentioned the importance of a comprehensive financial plan for developers, including funding

sources, budgeting and cash flow management. Vantage has a private equity approach to real estate development, which underscores the significance of data-driven decisionmaking. This mindset can be adopted by the individual investor as well. Do your research, and make an educated bet on the future of the market.

Leela also mentioned the importance of site selection for a developer, and how his firm must balance emerging markets and established ones. For the more seasoned pre-construction condo investor with a portfolio of suites, emerging areas with limited development but high-order transit can make for great buying opportunities.

As I have emphasised in many of my articles, market research is fundamental to making informed decisions. Buyers need to understand local market conditions, demand for properties and target demographics. Another factor to consider for buyers is the unit design/floorplan and the shared amenities, which influence their attractiveness to buyers and tenants. The current trend in the GTA shows an “amenities war,” with developers offering extensive shared spaces such as co-working offices, party rooms, dog wash stations, theatre rooms, rooftop pools, community gardens, gyms with saunas and more.

Sustainability is another critical consideration. Developers are increasingly incorporating sustainable

practices and energy-efficient features to appeal to environmentally conscious buyers and tenants, and investors should consider the longterm savings at these Green projects.

For investors looking to rent their units out, the high number of unit completions is flattening rent levels for new buildings completed over the last 15 years. Rents for newer buildings have remained relatively stable in 2024. Condo rents saw a significant increase from the pandemic-impacted rates of 2021, rising from $3.27 to $4.15 psf in 2022-23.

The market is significantly challenged today, but population growth is near record highs. Future supply will be constrained and interest rates are expected to decline over the next couple of years. There are signs of a future recovery, and buyers that understand the market and its direction in specific pockets of the Ontario new housing market will be handsomely rewarded. Good luck.

Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.

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TORONTO: THE FASTEST-GROWING CITY

IN NORTH AMERICA

BARBARA LAWLOR

Toronto Metropolitan University’s Centre for Urban Research and Land Development looked at population growth data across Canada and the U.S. from mid-2022 to mid-2023. The resulting report, published on

June 10, 2024, stressed that our increased immigration accounted for Toronto’s tremendous growth, making it the fastest-growing city in North America. Even before the pandemic, we were “one of” the fastest-growing cities. Toronto is also home to a population that is comprised of approximately half immigrants. We are, in fact, the most diverse city in the world, with about 180 languages spoken here.

By 2025, our population is expected to reach nearly three million, which brings to mind the housing shortage we are experiencing, for both potential purchasers and renters. The population explosion speaks well to the rental market, as we have a continuing flow of people who want to rent accommodations. Although Toronto’s average rent prices have decreased slightly over the past few months, as of June they were still

$2,240 for an unfurnished onebedroom apartment. Rents can go a long way to paying off a mortgage on a single or multi-residential property.

In addition, a lot of the immigrants we welcome work in the skilled trades, and to get more homes and condominiums built, as well as the infrastructure needed to accommodate them, we need workers to fill in the shortage of domestic labour. A research study by the Smart Prosperity Institute produced a report called Baby Needs a New Home – Projecting Ontario’s Growing Number of Families and their Housing Needs. Population growth projections by the Ontario Ministry of Finance indicate that we will need

one million new homes to keep up with an increase of 2.27 million more residents over the next decade.

A several-thousand worker deficit in the skilled trades is counterproductive to this happening. The Province of Ontario has improved the apprenticeship and skills training system, but we need more, especially in incentives for those who provide residential construction skill sets. It was also recently reported that 700,000 tradespeople will retire this decade.

Immigrants also add to the diverse tapestry that is desirable by world standards. We can also see expansions of our public transit system being implemented, which

“ ” It is easy to understand why the city of Toronto is so popular on an international basis. We enjoy one of the highest qualityof-life standards in the world.

will help greatly as more people move to Toronto and buy or rent homes or condos here. In total, Toronto has 77 new transit stations (commuter rail lines, LRT and subway stops) either planned or under construction.

The provincial government’s Bill 23, More Homes Built Faster Act, calls for areas around rapid transit stations to become more dense, and that is happening slowly. We have the recent interest rate cut, along with the rental construction HST rebate, the provincial Cutting Red Tape to Build More Housing Act, and Toronto City Council’s recently passed Major Streets policy, a bylaw that allows for “gentle density” through missing-middle housing in lowrise neighbourhoods.

It is easy to understand why the city of Toronto is so popular on an international basis. We enjoy one of the highest quality-of-life standards in the world. Now, we must continue to find ways to house everyone.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

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CRAFTING DREAM HOMES AND ENHANCING

ACTIVE ADULT LIVING IN NIAGARA

The Niagara Region is emerging as a hotspot for growth, blending urban convenience with natural beauty, away from the hustle bustle of the GTA. For those seeking a slice of this lifestyle, local builders hold the key, especially those deeply rooted in the community. Builders such as Lucchetta Homes.

Established in 1960, Lucchetta Homes has remained committed to crafting quality homes that families cherish. At Lucchetta Homes, customer satisfaction is paramount. The company’s designs reflect the latest trends, with each element enhancing functionality and comfort.

Lucchetta Homes’ commitment to high standards ensures each home surpasses expectations. From foundation to roof, every detail is crafted with precision and care, thanks to strong partnerships with top local tradespeople. This dedication to excellence has earned Lucchetta Homes widespread industry recognition and awards.

Lucchetta Homes also leads in Green building practices, with certifications for energy efficiency and innovation. Every home they build is Energy Star certified, reflecting their commitment to sustainable living, while offering Net-Zero Ready

options, positioning themselves as pioneers in sustainable housing in the Niagara region.

NIAGARA’S NEWEST HIP COMMUNITY. MOVE IN NOW

Lusso Urban Towns, located in the heart of St. Catharines, features a modern collection of contemporary urban townhomes with access to the best that Niagara has to offer. From local shopping and dining to sports facilities and scenic parks, Lusso Urban Towns is perfectly situated for convenience and recreation. With easy highway access to both Toronto and Buffalo International

Airports, these townhomes offer the perfect balance of urban living and natural beauty.

These stylish, spacious townhomes feature nine-ft. ceilings, extra-large windows, and beautifully designed kitchens. These homes are designed for modern living. Homeowners will also enjoy extra-large single and two-car garages, outdoor covered decks and a range of luxurious

finishes, including quartz countertops and spa-like ensuite bathrooms. These townhomes are low maintenance, as snow removal and lawn mowing services are provided by the homeowner’s association for a small monthly fee.

WATERCREST AT HUNTERS POINTE

Another Lucchetta Community is WaterCrest at Hunters Pointe,

an award-winning active adult lifestyle community located along the Welland Canal in Niagara. This community offers a range of detached bungalows and bungalow townhomes, perfect for independent adults seeking a vibrant social and physical lifestyle. With open-concept designs and upgraded finishes, these homes are ideal for those looking to enjoy the best of mod-ern living without sacrificing comfort.

Close to the Canal, Watercrest residents enjoy a unique setting close to wineries, Niagara Falls and a variety of recreational activities, from golf to cycling trails. With easy access to both Toronto and Buffalo, this community is perfect for those looking to live life to the fullest.

For more information, visit lucchettahomes.com, the Lusso Sales Centre at 24 Grapeview Dr. in St. Catharines, or the Watercrest Sales Centre at 502 Old Course Trail in Welland. With construction well underway, Lucchetta now has move-in-ready homes available. For an appointment, call Paul at 416.605.3885 or Steve at 905.658.2699.

P o r t P e r

HOT PROPERTIES | GREATER

HOT PROPERTIES

NOTE: SINCE MAP LOCATIONS CANNOT BE MORE PRECISE, IT IS ADVISABLE TO PHONE AHEAD FOR SPECIFIC DIRECTIONS.

FIND YOUR NEXT HOME

Bronte Harbour – 905.842.8167

City

Whitby – 905.665.6200

Ashgrove Meadows, Picture Homes – 905.985.0808

Ballantrae Golf & Country Club – 905.640.1055

Bradgate Arms, Revera – 416.968.1331

Canterbury Place, Verve – 416.227.1643

Cape Cod Villas, Kaitlin – kaitlincorp.com

Chartwell Grenadier Ret. Res – 416.769.2885

Chartwell Scarlett Heights – 647.846.7007

Connectt, Briarwood/Gilbach – briarwoodhomes.ca

Court at Brooklin & Pringle Creek – 905.655.7718

Courts of Canterbury, Geranium – courtsofcanterbury.com

Credit River Retirement, Verve – 905.812.9191

The Davis Residences, LCL Builds/Rose Corporation – thedaviscondos.com

DelManor Elgin Mills – 905.770.7963

905.469.3232

Northtown – 416.225.9146

COMMUNITY NAME & CONTACT

Leslie and Wellington, Vermilion – vermiliondevelopments.ca

Lakebreeze, Kaitlin Corp. – 607.302.2490

Leslie and Wellington, Vermilion – vermiliondevelopments.ca

The Meadows of Aurora – 905.503.5560

Milton’s Bronte West Condos,– 289.851.0701

Modo, Kaitlin Corp. – modolife.ca

Nautique Condos, Adi Dev. –

OakPark, Ballantry Homes – ballantryhomes.com

Palermo Village, Verve – 905.582.0395

Parkland on Eglinton West, Shannex – 416.997.2647

Parkland on the Glen, Shannex – 905.820.8210

Pinnacle Uptown: Amber & Perla – 905.568.9000

Port Credit Res., Verve – 905.274.6864

Prince George Landing, Stockworth/RoseWater – 905.655.6060

Renoir, Revera – 905.853.6400

Richmond Hill Retirement,

– 905.337.1145

Sunrise Senior Living of Richmond Hill – 905.883.6963

Sunrise Senior Living of Unionville – 905.947.4566

Tapestry at village Gate West – 416.777.2911

Watford, Watford Group – 416.218.5542

Mill on Steeles – 905.731.4300

Toronto Street Boutique Condos – maplebrookhomes.ca

Valera Towns, Adi Developments – adidevelopments.com

Villa Da Vinci, Sienna – 905.264.9119

VIVA Mississauga – 905.566.4500

VIVA Oakville – 1.888.984.8482

VIVA Pickering – 905.831.2088

VIVA Thornhill Woods – 905.417.8585

VIVA Whitby Shores – 1.888.984.8482

Wellings of Whitby, Nautical Lands – 905-243-1386

Westview Condos, Devonleigh – devonleighhomes.com

White Cliffe Terrace, Verve – 905.579.0800

Wilmot Creek, Rice – 1.800.994.5668

ONTARIO

Allora Condos, Urbandale – 613.822.2190

Amica Bearbrook Court – 613.837.8720

Amica London – 519.657.7096

GREATER

FIND YOUR NEXT HOME

East Village Cobourg, Stalwood – 289–252–1961

Park Clarington

Corp. – kaitlincorp.com

Kingswood Cobourg, Mason – masonhomes.ca

Kokomo Beach Club, Wastell – kokomobeachclub.com

Lakewoods, Lakewoods Resort Dev. – 1.888.990.9120

Loyalist Country Club, Kaitlin – 1.800.353.2066

Prince edward County, Cosmopolitan Homes – lovetheviews.ca

VIVA Waterside – 613.653.2010

Viva – 613.253.2010

Wellington Bay Estates & Abbott Lane Towns, Sandbank – 1.800.353.7823

West Five, Sifton – sifton.com

Westlinks, Rice Dev. – 1.888.ASK.RiCe

Whispering Pine, Sifton – sifton.com

Young’s Cove, Briarwood – 1.866.962.5264

GOLDEN HORSESHOE

Amica Dundas 905.628.6200

Amica Stoney Creek 905.664.8444

Arbour vale, Pinewood 905.397.8616

Argyle, Reid’s Heritage – argylevillage.ca

Bench Mark, Losani Homes – losanihomes.com

The Block on Clair, Reid’s Heritage– blockonclair.ca

Century Condos, Homes By DeSantis centurycondos.ca

Davis Heights, Lucchetta Homes lucchettahomes.com

Deerwood Lane, Southport – 905.658.3554

Dickson Hill, Jackson Homes – dicksonhill.ca

Dover Coast Phase 2, Stockworth – 519.583.2049

The Dover Wharf – doverwharf.com

Edgewood Suites, FLATO® – edgewoodsuites.ca

Elora Mill Condominiums, Pearle – eloramillcondos.ca

The Flats at Black Creek – 519.583.9009

Grand Bell, Lakeview Dev. Hldgs. – grandbellsuites.com

Grimsby Waterfront, Losani – losanihomes.com

The Harbour Club, SDR Group – theharbourclub.ca

Harbour Heights – 519.754.6772

Harbourtown Village, Silvergate – harbourtownvillage.ca

Hardy Terrace, Verve – 519.484.2431

Retirement Village – 519.688.0448

Jacob, Emshih Living – 905.563.3322

Kayak Urban Towns, Kingwood – kingwoodhomes.ca

King’s Park, LJM Dev. – kingspark.ca

Lackner Ridge, Reid’s Heritage – lacknerridgetowns.ca

Lakeside Landing Wellington, Royalcliff, lakesidelandingwellington.ca

Legends On The Green, Silvergate Homes – silvergatehomes.com

Lincoln Park Retirement – 905.309.0055

Losani – losanihomes.ca

Metcalfe Gardens, Verve – 519.631.9393

GREATER

FIND YOUR NEXT HOME

Modal at Main, Reid’s Heritage – modalatmain.ca

The Oaks at Six Mile Creek, Blythwood Homes Townhomes at the Oaks in Ridgeway – blythwoodhomes.ca

Odyssey, Rosehaven – odysseylife.ca

One Five Central,

– 226.751.5250

Portside at Woodway Trails – huroncreek.com

Portview estates, Silvergate –

at Hunters Pointe, Lucchetta

Port, Rankin – 1–833–ROYAL–51

Oak Prop. – royalridge.ca

The Shores, Marz Homes – 905.894.7873

Soho, Losani – losanihomes.ca

South Hill, Thomasfield – 519.766.5060

South Port, Rankin Const. – southpt.ca

The Spencer at Dundas Peak, Sage – spencercondo.com

St. Elizabeth Mills, Zest – 905.574.8178

Sweetberry, Losani Homes – losanihomes.ca

Sweetberry, Losani Homes – losanihomes.com

Trailside at Grey Silo Gate, Activa – 519.742.5800

Victoria & John, Solmar – 905.688.3010

Upper Vista Condos, Evertrust – 1.866.418.8936

Village Creek, Park Lane Homes – 905.382.8857

The Village on Prince Charles, Carey Homes – careyhomes.ca

Village On The Twelve, Silvergate Homes – silvergatehomes.com

The Vines, Four Mile Creek, Blythwood Woodcastle Homes – 647.531.8463

The Vintages at Four Mile Creek, Blythwood – 905.657.2977

Vista Ridge & Vibrant, Losani – losanihomes.com

Watercrest at Hunter’s Point, Luccetta – luccettahomes.com/watercrest

Waterview Condos, LJM – 1.855.500.1215

Welland High Garden, Dennis – wellandhighgarden.ca

Wellings of Waterford – 1.800.996.9885

Westwood Trails, Sinclair Homes – 226.476.2227

Woodview, Losani – losanihomes.ca

COTTAGE COUNTRY

Amica Little Lake – 705.722.9191

Aquavil, Royalton Homes – aquavil.ca

Armour

NAME & CONTACT

Gryffin Bluffs, Gang of Five Inc. – gryffinbluffs.ca

Harbour Pointe, Batavia – 705.355.0363

Harmony Living, Mamta – mamtahomes.com

Hedge Road Landing, Alliance – 905.596.2200

Highcrest Muskoka, edgewoodmuskoka.com

Holland Gardens, Verve – 905.775.6020

Homes on the Bay, Rose Water – rosewatermanagement.com

Hometown Creemore, Alliance – hometowncreemore.ca

The Këmp, Fortress – 905.787.9266

Kings Landing, Dreamland Homes – 905.657.4663

Kingsmere Retirement, Sienna – 705.434.4600

Kingsview on Balsam Lake, Kaitlin – 1.866.514.3573

Lākhouse

Muskoka, lakesidemuskoka.ca

Landing at Little Lake – 705.719.9909

Lora Bay: The Cottages & The Masters, Sherwood Homes – 1.877.696.8984

Beachway Crossing, Stonebridge Building Group – stonebridgebg.com

Reverie, Reid’s Heritage – reverietowns.ca

Royal Windsor at Balmoral Village, Sherwood Homes – 1.877.887.3437

Sandycove Acres, Parkbridge – 1.800.348.7161

Truelife – thesummitmuskoka.com

Wood, Third Line – 647.227.4069

Villas at Wasaga

Waterfront at Grandview –

GREATER TORONTO AREA ONTARIO

HORSESHOE COTTAGE COUNTRY

PUBLIC OPINION SURVEY REVEALS DEPTHS

OF RESIDENTS’ CONCERNS ABOUT HOUSING CRISIS

According to a public opinion survey conducted by Ipsos (on behalf of BILD), 90 per cent of people in the GTA agree there is a housing affordability issue, and 72 per cent of agree that there is not enough being done to address it. In addition, approximately half of renters and young people in the GTA say they plan to move out of the province or to the suburbs to buy a home. Such shifts and the loss of these younger demographics would have a significant and dire impact on the GTA’s social and economic landscape.

The survey, conducted in April with 1,000 GTA residents, also revealed that 75 per cent are dissatisfied with housing availability and affordability. Factors contributing to the housing shortage are well-identified by residents, with 43 per cent attributing the shortage to high interest rates keeping buyers on the sidelines, resulting in fewer new builds. This is followed by the agreement that it has gotten too expensive to build new homes (39 per cent) and that there is insufficient new housing being built (38 per cent).

Regarding new house developments and NIMBYism, attitudes have shifted when compared to a similar poll from two years ago. Thirty-three per cent of respondents said they are not opposed at all to new housing developments being

built close to their current homes (versus 23 per cent opposed in 2022). But still almost half (48 per cent) of people say they oppose a highrise condo being built within half a kilometre of their current residence –and even more concerning is that one third of respondents say they oppose a single-family detached home being built within that same distance. Nevertheless, 72 per cent support expanding municipal boundaries to boost housing supply on the outskirts of the GTA.

After residents were informed that government fees, taxes and charges account for about a quarter of the cost of an average new home, 74 per cent of respondents felt it is not fair to add such a burden on a new-home buyer. The survey also showed that GTA residents hold governments accountable for the housing shortage, with the federal and provincial governments receiving most of the blame.

It is clear from the results of the survey that too many people in the GTA believe that owning an affordable home that meets their needs is increasingly impossible – and 83 per cent of respondents agree that no one group can solve the housing shortage issue on their own. We agree, too. Everyone, including all levels of government, must step up and work together to change the dream of buying a home in the GTA from impossible to possible.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

DAVE WILKES

Fall Home Show is back!

It doesn’t matter where you live in Toronto or the GTA. It doesn’t matter how big or how small your home is. It doesn’t matter if your style is modern chic or rustic wonder. The Fall Home Show is for you! Shop over 250 home and lifestyle vendors, plan your next renovation, get free interior design advice, and more!

Don’t miss your favourite celebrities, including Todd Talbot, Michael Holmes Jr., and more, at the Fall Home Show this year!

Tired of the clutter in your home and workshop? Stop by the DIY Centre to find some storage and organizational projects you can easily tackle.