INSIDE : BETTER LAND USE PLANNING KEY TO HOUSING SUPPLY BUILDING THE WEST END BRINGS JOBS AND DEVELOPMENT Aug. 27–Sept. 24, 2022 Greater Toronto Area Greater Toronto’s Finest NEW HOME GUIDE BUILDER OF THE YEAR GTA & DURHAM
CELEBR ATI N G 30 YE A R S REGISTER FOR OUR NEW RELEASES AND UPCOMING COMMUNITIES MISSISSAUGA - Whitehorn Woods - Townhomes on Britannia Rd. W. BURLINGTON - Midrise Condominium and Townhomes on Plains Rd. BRAMPTON - DUO Condos - Condominiums on Steeles Ave. W. Register at: DUOcondos.ca nationalhomes.com WHAT IF? We made your ideas fly. SINCE 1992, WE’VE LISTENED TO YOUR DREAMS, AND BROUGHT THEM TO LIFE IN OUR HOMES. This year, we are proud to celebrate 30 years of reimagining what is possible. In focus groups, surveys, and workshops, we’ve listened to your needs and made your ideas fly with Bright Ideas like family centres, smart technology, and designs that inspire health and wellness. Every National home is built with you in mind. Because, You Are the Blueprint.
We’re excited to announce the release of our final 16 lots at Braestone. The community has come together beautifully, a labour of love and exercise in innovation, craftsmanship and design. Not surprisingly, the response has been extraordinary as residents of Braestone are happy to enjoy the remarkable trails and ponds, the horse paddocks and berry patches, the nature preserves, streams and forests and a life, as promised, that is richer and more rewarding. We invite you to join in our vision and become part of Oro-Medonte’s finest community. REGISTER FOR OUR FINAL PHASE TODAY – FROM $1.5 MILLION. GEORGIAN AnotherCOMMUNITIESprojectdevelopedby: braestone’s final enclave. Distinctive and timeless bungalow, loft and two-storey homesteads on a selection
braestone.caof 1/2 acre to over 1 acre secluded lots.
AUG. 27–SEPT. 24, 2022 CONTENTS 26 BUILDER OF THE YEAR – GTA & DURHAM BROOKFIELD RESIDENTIAL COVER STORY 6 HOMES Magazine | Aug. 27–Sept. 24, 2022
34 38 36 Branthaven Homes Whether it’s a condo or home, Branthaven has the perfect match for you 38 Silvergate Homes Harbourtown Village in Fort Erie is Niagara’s hidden gem 40 Fieldgate Homes Live with distinction in signature communities across the GTA Builder profiles 10 Editor’s Note Have we corrected already? 14 Spotlight Online 18 In The Spotlight New condo sales strong, inventories decline in July; more news on pages 19, 20 and 21 22 Inside the GTA 32 In Conversation With Mirella DunparSarrapochiello,Homes COLUMNS 30 Western View Building the west end brings jobs and economic development 31 Legally Speaking Preparing to buy in uncertain times 34 The Economist An informed land use planning program is critical to solving Canada’s housing problem 42 Real Estate Pro Deeper research shows the GTA new home market is doing just fine 44 Personal Finance How to budget for a new home purchase amid rising rates and costs 45 Real Insight A look at the summer housing market and beyond 46 Home Realty Putting rising interest rates into perspective 47 Realty Insider How to transition from a homeowner to an investor 66 Industry Report Providing residents with different housing choices is good planning IN EVERY ISSUE 8 Contributors 48 North Region 50 Southwestern Region 54 Maps & Charts for New Home Communities 64 Index of Advertisers nexthome.ca 7
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.
REALTY INSIDER |
THE ECONOMIST | TED TSIAKOPOULOS Ted Tsiakopoulos is a professional economist, author of Property Trendsetters: Successful Toronto Real Estate Experts Share Key Insider Secrets, and sought-after speaker with more than 25 years of experience analyzing housing and financial markets. He has also worked as an investment counsellor on Bay Street in Toronto. ttsiakop@cmhc.ca or LinkedIn/Ted Tsiakopoulos.
8 HOMES Magazine | Aug. 27–Sept. 24, 2022
CONTRIBUTORS CHIEF REVENUE OFFICER Jacky jacky.hill@nexthome.caHill EXECUTIVE MEDIA CONSULTANT Michael Rosset EDITOR-IN-CHIEF – NATIONAL REAL ESTATE Susan susan.legge@nexthome.caLegge EDITOR-IN-CHIEF – GREATER TORONTO AREA Wayne wayne.karl@nexthome.caKarl MANAGING EDITOR Rise Levy CONTRIBUTORS Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Michael Klassen, Barbara Lawlor, Jayson Schwarz, Ted Tsiakopoulos, Dave Wilkes SENIOR VICE-PRESIDENT, SALES, NEXTHOME Hope 416.708.7987,McLarnonhope.mclarnon@nexthome.ca DIRECTOR OF SALES, ONTARIO, NEXTHOME Natalie 416.881.4288,Chin natalie.chin@nexthome.ca SENIOR MEDIA CONSULTANT Amanda 416.830.2911,Bell amanda.bell@nexthome.ca VICE-PRESIDENT, MARKETING – GTA Leanne Speers SENIOR CLIENT RELATIONS SPECIALIST – GTA Sonia Presotto MANAGER CUSTOMER SALES/SERVICE Marilyn Watling SALES & MARKETING CO-ORDINATORS Gary Chilvers, Vi Nguyen HOME SHOW MANAGER & NEWSPAPER CIRCULATION – GTA 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 & ASSISTANT MANAGER Alicesa Pullan GRAPHIC DESIGNER & PRE-PRESS COORDINATOR Hannah Yarkony GRAPHIC DESIGNERS Johannah Lorenzo, Jean Fay Rodriguez, Mike AdvertisingTerentiev Call 1.866.532.2588 ext. 1 for rates and information. Fax: 1.888.861.5038 Circulation Highly targeted, free distribution network aimed at real estate buyers using street level boxes, racking and Toronto Star in-home delivery. Canadian subscriptions 1 year = 13 issues – $70 (inc. HST). Canada Post – Canadian Publications Mail Sales Product Agreement 40065416. Copyright 2022 All rights reserved. All copyright and other intellectual property rights in the contents hereof are the property of NextHome, and not that of the individual client. The customer has purchased the right of reproduction in NextHome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of NextHome. Terms Advertisers, Editorial content are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time. Editorial Submissions from interested parties will be considered. Please submit to the editor at editorial@nexthome.ca. Published nexthome.caby Official Media Partners: æ Sign up to receive digital editions & newsletters to your inbox!
JAYSON SCHWARZ Jayson Schwarz LLM is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.
REAL ESTATE PRO | BARBARA LAWLOR Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com
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
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PERSONAL FINANCE JESSE ABRAMS
DAVE WILKES Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca
BILD REPORT |
MICHAEL KLAUSSEN Michael Klassen is the Broker of Record, Eleven Eleven Real Estate Services. Based in Toronto, this firm is a residential pre-construction listing brokerage. 1111realty.ca
LEGALLY SPEAKING |
Indeed, routine double-digit price growth is not sustainable, or arguably healthy, over the long term, and it presents an entry barrier for many prospective new-home buyers.
As we have been cautioning in these last few issues, real estate markets in the GTA and elsewhere in Ontario are going through some more challenging times. Note we didn’t say tough. It would be folly to try to say all is rosy, given the number of market stats that show sales are off and prices are down. But as we often clarify in HOMES Magazine – and some of our expert columnists in this and previous issues – those facts do not necessarily translate to bad times.
Until inflation subsides and interest rates stabilize, some consumers may take a more cautious approach with their homebuying plans. But these conditions represent short-term challenges. The long-term fundamentals of the GTA – low unemployment, high job vacancies, rising incomes, record immigration, and not enough housing – are not about to Prospectivechange. homebuyers will likely adjust – psychologically and financially – to the economic uncertainty and higher borrowing costs. And when that happens, the market may well return to its pre-correction performance.
HAVE WE CORRECTED ALREADY? 10 HOMES Magazine | Aug. 27–Sept. 24, 2022
“Canada’s least affordable markets, Vancouver and Toronto, and their surrounding regions, are most at risk in light of their excessively stretched affordability and outsized price gains during the pandemic,” RBC says in its latest report. But then it says, “condos in the city of Toronto are likely to remain relatively more resilient,” noting that pricing may be affected more in some 905 areas, where value appreciation soared during the pandemic.
EDITOR’S NOTE + get social Interact with us on social media: nexthome WAYNE KARL EDITOR-IN-CHIEF HOMES Magazine EMAIL: wayne.karl@nexthome.ca TWITTER: @WayneKarl
RBC Economics has gone as far as to label the current market a “correction,” which normally might spell trouble, citing rising interest rates as the primary catalyst. But in this case, and in certain markets and home types, it could also mean opportunity.
In the meantime, this pause could be just the window of opportunity you’ve been waiting for.
Meanwhile, the Canadian Real Estate Association (CREA) says home sales were down again in June, but the rates of decline are getting smaller. So, if the housing market actually was in a correction, per RBC, it’s fair to wonder if the worst may be over, per CREA.
nexthome.ca myhomepage.ca Nov. 7, 2020–Feb. 27, 2021 travel & leisure home & garden technology & finance | beauty & wellness THE RIGHT MORTGAGE AND A LOW RATE EXCLUSIVE MAP GUIDES TO 300+ ONTARIO ADULT LIFESTYLE COMMUNITIES THE BEST COLLECTION OF NEW 4 SEASON HOMES in the Georgian Bay area SHERWOOD HOMES nexthome.ca myhomepage.ca INSIDE: HOMEBUYER INTENTIONS STILL STRONG SURVEY Greater Toronto Area Greater Toronto’s COMPLETE CONDO GUIDE WHERE MORTGAGE RATES ARE HEADED IN 2021 The Rose Hill Condos New Capital North Communities condo in Vaughan launching soon condolife myhomepage.canexthome.caDEC.5,2020–JAN.16,2021 LIVING IN THOROLD! Fabulous WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS! nexthome.ca | myhomepage.ca INSIDE: ARE HEADED IN 2021STILL STRONG: SURVEY Greater Toronto Area Toronto’s Finest NEW HOME GUIDE Order in! Receive your favourite magazines to your inbox.HOMES,CondoLife,ActiveLifeReno+Decor The ‘best of the best’ coverage in the categories of new home; new condo; adult lifestyle; design, decor and renovation. To get the latest real estate news, renovation ideas, deals and o ers, sign up to our e-newsletters! Canada’s HOME IDEA BOOK nexthome.ca myhomepage.ca STREAMLINE YOUR HOME NOW! FEB./MAR. 2021 $4.95 CLEVER OPTIONSSTORAGE • SMALL SPACE SOLUTIONS 5 TIPS TOLIKEDE-CLUTTERAPRO living PRODUCT SHOWCASE: HOME INSPIRATION THEtru ABOUTRENOS IDEAS SUSTAINABLE To get started nexthome.ca/newslettervisit:
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RECREATIONAL PROPERTY Everything you
nexthome.ca and enjoy these popular stories 14 HOMES Magazine | Aug. 27–Sept. 24, 2022
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Q&A In Conversation With... Richard Lyall, President, Residential Construction Council of Ontario
MORTGAGES
What do rising rates and falling prices mean for prospective homebuyers? Housing markets have shifted and look a little different than a few months ago. Interest rate hikes, rising inflation and cost of living, falling home prices in some areas… What do all these factors mean for Canadian homebuyers?
in
As new home and condominium sales ease from the frantic pace of the past couple of years, the industry is still busy – very busy. or check us out on @HOMESMagazineON @HOMESMagazine.Ontario @homesmagazine
Anyone shopping for a new home in an amenity and transit-rich community in the GTA would be wise to look at StateView Homes.
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If you’re planning to buy a new home or condo, there’s a lot to research: Interest rates, mortgages, location, community, builder, housing type… These days, those factors are even more complicated by challenges at the front end of the new home development process, Richard Lyall explains.
ANALYSIS Time for a reality check when it comes to GTA new home statistics
nexthome.ca NEW HOME COMMUNITIES
2022 BILD Awards
The Building Industry and Land Development Association recently recognized excellence in the design, construction, marketing and sales of new homes in the GTA at its 2022 BILD Awards. need to know about buying a cottage is not over, and you may be dreaming of buying a cottage. Here’s need to know. at
If your new home or condo was purchased within the past 12 months, tell us about your experience and you could WIN! HOUSEWARMING CONTEST! YOU COULD WIN A GIFT$100CARD! Did youguideshomebuyerourhelpfindhome? TOHOWENTER: nexthome.ca myhomepage.ca travel & leisure | home & garden | technology & finance beauty & wellness THE BEST COLLECTION OF NEW 4 SEASON HOMES in the Georgian Bay area nexthome.ca myhomepage.ca Dec. 5, 2020–Jan. 16, 2021 Greater Toronto’s COMPLETE CONDO GUIDE WHERE MORTGAGE RATES ARE HEADED IN 2021 condolife 202116,2020–JAN.5,DEC. condo in Vaughan launching soon LIVING IN THOROLD! Fabulous WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS! nexthome.ca myhomepage.ca INSIDE: WHERE MORTGAGE RATES ARE HEADED IN 2021 HOMEBUYER INTENTIONS STILL STRONG:Toronto’sSURVEYFinest NEW HOME GUIDE Scan the QR or fornexthome.ca/corporate/contestsvisitfullcontestdetails&rules
EXCELLENT DEDICATED TOHOMES Magazine salutes the following companies for their dedication to customer service. After-Sales Service is an essential component of a healthy new home industry. These builders are proud of their commitment to the principles of excellent customer service. TM 16 HOMES Magazine | Aug. 27–Sept. 24, 2022
CUSTOMER SERVICE nexthome.ca 17
The GTA new home market saw strong condominium unit sales and all-time low single-family home sales in July, with shrinking inventories and rising benchmark prices, the Building Industry and Land Development Association reports. Sales of new condominiums, including units in low-, mediumand highrise buildings, stacked townhouses and loft units, with 1,777 units sold, were up five per cent from July 2021 and three per cent above the 10-year Single-familyaverage.homes, including detached, linked and semi-detached houses and townhouses (excluding stacked townhouses), accounted for 97 units sold, down 88 per cent from last July and 88 per cent below the 10-year average. It was the first time that monthly sales of new singlefamily homes dipped below 100 since Altus Group started tracking in 2000. “As BILD has said all along, the long-term demand for new homes is not going anywhere, despite short-term market trends,” says Dave Wilkes, BILD president and CEO. “We have a monumental challenge ahead of us: To build the 1.5 million new homes Ontario needs to address the housing crisis, which is centred on the GTA.
IN THE SPOTLIGHT NEW CONDO SALES STRONG IN JULY, INVENTORIES DECLINE JULY NEW HOME SALES BY MUNICIPALITY Highrise Lowrise Total Region 2022 2021 2020 2022 2021 2020 2022 2021 2020 Durham 34 84 32 63 238 572 97 322 604 Halton 53 215 231 9 91 310 62 306 541 Peel 91 603 568 2 92 261 93 695 829 Toronto 1,444 644 746 1 14 27 1,446 658 773 York 155 152 402 21 396 517 176 548 919 GTA 1,777 1,698 1,979 97 831 1,687 1,874 2,529 3,666 SOURCE: ALTUS GROUP
With very few new project openings, total new home remaining inventory decreased compared to the previous month, to 10,848 units, comprised of 9,311 condominium apartment units and 1,537 singlefamily lots, representing 3.4 months and 2.4 months of inventory respectively. A balanced market would have nine to 12 months of inventory.Thebenchmark price for new condominium units in July was $1.19 million, which was up 9.2 per cent over the last 12 months, while the benchmark price for new singlefamily homes was $1.93 million, an increase of 27.4 per cent.
18 HOMES Magazine | Aug. 27–Sept. 24, 2022
To help municipal and provincial governments take steps toward this ambitious target, BILD and OHBA recently released a five-point plan for bringing balance to the housing market. In the lead-up to the municipal election on October 24, all residents of Ontario, especially those in the GTA, need to ask their candidates how they will champion concrete steps to address the housing challenge.”
“New condominium apartment sales posted a robust July, buoyed by buyer resiliency and stable prices,” says Edward Jegg, research manager at Altus Group. “In contrast, new single-family sales posted a record low in the face of slowing demand and a shortage of inventory.”
TRREB is also calling on all levels of government to reassess and clarify policies related to mortgage lending and housing development.
Detached $1.51M (-7.3) $1.32M (-1.9) $1.36M (-3.1) semi-detached $1.26M (5.1) $963,994 (2.2) $1.07M (4.9) Townhome $963,545 (7.6) $884,533 (5.5) $903,899 (6.3) condo $744,092 (4.3) $659,820 (11.9) $719,273 (6.9)
Source: TrreB nexthome.ca 19
In the spotlIght GOVERNMENT NEEDS TO ADDRESS AFFORDABILITY AND BOOST HOUSING SUPPLY: TRREB
The slowing market conditions continued in July, as the 4,912 home sales reported through the Toronto Regional Real Estate Board (TRREB) MLS System in July 2022 represented a 47-per-cent drop compared to July 2021. Following the regular seasonal trend, sales were also down compared to June. New listings also declined on a year-over-year basis in July, albeit down by a more moderate four per cent. Market conditions remained much more balanced in July 2022 compared to a year earlier. As buyers continued to benefit from more choice, the annual rate of price growth has moderated. The MLS Home Price Index (HPI) Composite Benchmark was up by 12.9 per cent year-over-year. The average selling price was up by 1.2 per cent compared to July 2021 to $1.07 million. Less expensive home types, including condos, experienced stronger rates of price growth as more buyers turned to these segments to help mitigate the impact of higher borrowing costs.
“The provincial government, elected on a platform of bolstering housing supply and increasing housing affordability, must take swift action as it relates to significantly rising municipal government fees across the GTA, such as development charges which are largely borne by home buyers,” Crigger adds. “City of Toronto Council should reflect on its recently approved 46-per-cent increase to development charges, bringing the average cost of all government charges and fees to an astounding $350,000-plus for every new detached house and over $180,000 for a new condominium.”
“Many GTA households intend on purchasing a home in the future, but there is currently uncertainty about where the market is headed,” says TRREB CEO John DiMichele. “Policymakers could help allay some of this uncertainty. As higher borrowing costs impact housing markets, TRREB maintains that the OSFI mortgage stress test should be reviewed in the current environment. Consumers looking to renew their existing mortgages with a different lender should not be subject to an additional stress test burden beyond what they would face with their existing lender.”
With significant increases to lending rates in a short period, there has been a shift in consumer sentiment, but not market fundamentals, TRREB says.
“The Greater Toronto Area (GTA) population continues to grow and tight labour market conditions will drive this growth moving forward,” says TRREB Chief Market Analyst Jason Mercer. “Despite more balanced market conditions resulting from rapidly increasing mortgage rates, policymakers must continue to take action to boost housing supply to account for long-term population growth. TRREB has put realistic solutions on the table to address the existing housing affordability challenges. With savings high and the unemployment rate still low, homebuyers will eventually account for higher borrowing costs. When they do, we want to have an adequate pipeline of supply in place or market conditions will tighten up again.”
“The federal government has a responsibility to not only maintain confidence in the financial system, but to instill confidence in homeowners that they will be able to stay in their homes despite rising mortgage costs,” says TRREB President Kevin Crigger. “Longer mortgage amortization periods of up to 40 years on renewals and switches should be explored. With the benefit of hindsight, it appears that the Bank of Canada’s rate increases started too late. Now we are dealing with outsized increases to curb generationally high inflation.
GTA resAle AverAGe prices, July 2022 (yr/yr % chAnGe) 416 905 Total
The five points that the industry is releasing present a bold vision on how to get more housing built quickly, so that every Ontarian can afford a place to call home. We call on the provincial government to continue to play a strong leadership role in defining this change and to work with our industry to implement theseOntario’srecommendations.”homebuilding industry says it understands there is no silver bullet solution to address the shortage of housing supply and the affordability challenges that come with it. BILD and OHBA are recommending a suite of changes to speed the delivery of new homes, add supply and bring balance to the market. These recommendations include:
2. Adding certainty to the cost of building a new home by addressing out-of-control development fees. Already, fees and taxes from all levels of government account for up to 25 per cent of the cost of a new home.
1. Making homes more affordable by speeding up approval times and eliminating red tape. Each month of delay in approvals adds thousands of dollars to the cost of a new home.
5. Taking the politics out of planning to ensure that local decision making does not undermine the provision of new housing.
The Ontario Home Builders’ Association (OHBA) and the Building Industry and Land Development Association (BILD) has released their top policy recommendations in a five-point plan for consideration by the provincial government for its new mandate. These priorities are based on the February 2022 recommendations of the Housing Affordability Task Force, and forwardthinking initiatives intended to lower housing costs and increase housing supply for Ontario residents.
4. Laying the aretransportationbygroundworkinfrastructureforfuturegrowthensuringservicingandinfrastructureprioritized.
“The evidence is clear, solutions have been identified, consensus has been achieved – now it’s time for action,” says Dave Wilkes, president and CEO of BILD. “Our industry’s five-point plan outlines the changes necessary to ensure that new-home owners can afford to live in the GTA and that our region’s economy prospers in the long term.”
HOMEBUILDING INDUSTRY RELEASES FIVE-POINT PLAN
20 HOMES Magazine | Aug. 27–Sept. 24, 2022
“Ontario has a housing shortage, and the lack of supply is driving up housing costs across the province,” says Luca Bucci, CEO of the OHBA. “Ontario needs to build at least 1.5 million homes over the next 10 years to restore affordable housing prices.
IN THE SPOTLIGHT
TO ADDRESS HOUSING CRISIS IN ONTARIO
3. Making new lands available to build new housing and support future growth, as home supply and costs are highly dependent on land availability.
“Those fast and furious incremental increases placed downward pressure on housing sales and prices, improving affordability on one hand, but eroding it on the ReMaxother.”found that second quarter values in the GTA were 10 to 15 per cent below Q1 levels in Durham (-14.6 per cent), York (-12.9 per cent), Halton (-12.7 per cent), Dufferin (-12 per cent) and Peel (-11.2 per cent). Just 15 per cent of GTA markets noted an uptick in average price in the second quarter. Five of those markets are located in the central core.
nexthome.ca 21
Several markets stood out in terms of sales in the Toronto region. Some of the areas that have seen the greatest activity include Toronto’s west end, where a single-detached home on a 50-ft. lot with a price tag of less than $1.5 million is still a possibility.Intheeast end of the GTA, in areas such as South Riverdale and Greenwood-Coxwell, sales climbed 26.5 per cent in the second quarter compared to the first. With proximity to the downtown core and the Lake Ontario shoreline, and an average price of $1.86 million, this community has proven exceptionally hardy under currentBuyerscircumstances.seekingaffordability helped prop up second-quarter sales in Ajax, Whitby, Clarington and Scugog in Durham Region. With the average price of a single-detached home hovering at slightly more than $1 million in Clarington to $1.2 million in Ajax, the region has an abundance of entry-level product for costconscious“Inventorybuyers.remains a puzzle that policy can’t solve in the foreseeable short or long term,” says Alexander. “It’s a real challenge, as supply of detached homes remains low from a historical perspective and also in the context of population growth and future needs.”
While detached housing values show substantial year-over-year gains in the first half of 2022, recent successive increases to the Bank of Canada’s (BoC) overnight rate put a damper on price appreciation in the GTA in the second quarter, according to a new report from ReMax Canada.
Durham Region was also a hot spot, with half of its markets reporting an uptick in homebuying activity.
“Given that the core has traditionally been more resilient, bolstered by strong demand, a finite supply of homes available for sale, higher household incomes, and greater equity at the top end of the market, the results are not unexpected,” says Alexander. “The price softening was clearly more evident in suburban areas and the outer perimeters of the 416, most of which experienced strong upward momentum during the height of the pandemic as buyers sought to leave the city.”
IN THE SPOTLIGHT SOFTER DETACHED HOME VALUES SPUR HOMEBUYING ACTIVITY IN SECOND QUARTER: REMAX
“For those buyers that were active in Q2, improved housing affordability due to easing prices and the threat of higher rates down the road clearly provided the impetus for many to leap into detached home ownership,” says Alexander. “Greater selection, particularly in coveted hot pockets, also played a significant role in April and May as the pandemic-fuelled buying spree drew to a close. Buyers locked into five-year fixed terms as the overnight rate hovered between one per cent in early April to 1.5 per cent in early June.”
To illustrate, the 2022 ReMax Hot Pocket Communities Report compared market activity in the first and second quarter of 2022 in terms of unit sales and prices, analyzing 60 Toronto Regional Real Estate Board (TRREB) districts. The central and west end of the 416 held up relatively well in terms of average price, while Durham, Peel, York, Halton and Dufferin surrendered some of the significant gains realized in recent years. “Buyer sentiment changed virtually overnight as growing geopolitical concerns and spiralling inflation destabilized global markets, leaving the Bank of Canada little option but to raise interest rates,” says Christopher Alexander, president, ReMax Canada.
ReMax realtors also noted a reversal in pandemic trends over the past six months, as work from home situations change and buyers rethink the exodus to suburban and rural areas. Detached home sales rose in 40 per cent of markets surveyed in the GTA in the second quarter of 2022, with the vast majority of increases noted the 416 area. However, affordable price points also continued to draw buyers.
22 HOMES Magazine | Aug. 27–Sept. 24, 2022
by SUSAN LEGGE GTA
Josh Zagdanski, vice-president, highrise, at The Madison Group, along with Alessandro Munge, founder and design director of Studio Munge, and Toronto City Councillor Mike Colle, spoke about the project and the passion it took to conceptualize and bring new life to the historic Capitol Theatre. The famed theatre will be transformed into a stunning 14-storey residence, while preserving the original marquee and facade at the base three floors. madisongroup.ca
A GROUNDBREAKING DAY FOR THE CAPITOL RESIDENCES
Revitalization of community recreation centre begins
#InsidetheGTA
MADISON GROUP recently hosted the official groundbreaking ceremony for The Capitol Residences at the corner of Castlefield and Duplex Avenues in Toronto.
LCH Developments has opened a creative community hub called Merge Spaces in the southwest Scarborough community of Cliffside Village – and it looks amazing. The first of its kind in the area, Merge Spaces rents private and shared workspaces to freelancers, entrepreneurs and businesses so they can connect, collaborate and share amenities. The social experience includes regular events programming for creatives, entrepreneurs, and professionals. mergespaces.com Merge Spaces is foropenbusiness
Toronto Deputy Mayor Ana Bailão was recently joined by Rafael Lazar, chief executive officer for site developer Almadev (formerly ELAD) to announce details for a revitalized Wallace Emerson community recreation centre and park and a new childcareConstructioncentre.of the new facility, and phase one of park improvements on portions of the site, have already begun, as part of the Reimagine Galleria Development plan. Construction is expected to be completed in 2025. The revitalization project will double the size of the current recreation centre to approximately 89,500 sq. ft. Phase One of the Galleria on the Park master-planned community is comprised of mixed-use towers, Galleria 01 and 02, which broke ground in 2020. These towers include 150 affordable rental units, condominium residences and 40,000 sq. ft. of commercial space. Complementing the implementation of downtown Toronto’s largest community centre, this exciting development comes on the heels of the next phase of Galleria, Galleria III, which has officially broken ground as well. galleriaonthepark.com
SEPTFALL30-OCT 2 ENERCARE CENTRE | EXHIBITION PLACE It doesn’t matter where in Toronto or the GTA you live. 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 300 home and lifestyle vendors, plan your next renovation, get free interior design advice, and more! The Fall Home Show is back! Don’t Miss! Learn From the Experts! Don’t miss your favourite celebrities, including HGTV Canada’s Scott McGillivray and more at the Fall Home Show this year! Get Hands On! Tired of the clutter in your home and workshop? Stop by the DIY Centre nd some storage and organizational DIY projects you can easily tackle. Create Posh Pumpkins! Looking for an easy yet eyecatching fall DIY project? Visit our Posh Pumpkin Patch and learn to make these GOURD-geous creations. For more information FALLHOMESHOW.COMvist:
LIVING IN THOROLD! Fabulous WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS! nexthome.ca | myhomepage.ca INSIDE: WHERE MORTGAGE RATES ARE HEADED IN 2021 HOMEBUYER INTENTIONS STILL STRONG:Toronto’sSURVEYFinest NEW HOME GUIDE HOMES Canada’s trusted authority for the latest new home developments, industry news and expert homebuying advice. Receive every edition of your homebuyerfavouriteguide To get the latest real estate news, deals and offers, sign up to our e-newsletters! Subscribe to receive yourmagazinesouratfrontdoor! To get started nexthome.ca/corporate/subscribevisit:
Brookfield Residential’s goal has always been to build The Best Places to Call Home, and doing this goes beyond the high-quality homes it builds and sells. To the Brookfield Residential team, it’s also about developing sustainable communities that truly make a difference in people’s lives, no matter what stage of life they’re in. Brookfield Residential prides itself on building special places where people live their best lives, connect with neighbours, and take advantage of all the amenities outside
RESIDENTIALBROOKFIELDBUILDER OF THE YEAR GTA & DURHAM COVER STORY 26 HOMES Magazine | Aug. 27–Sept. 24, 2022
For more than 65 years, Brookfield Residential has built lasting communities throughout Southern Ontario – including in the Greater Toronto Area, from Niagara to Aurora, from Barrie to Whitby, and beyond – that are thoughtfully designed, exceptionally built, and beautifully finished. As one of Ontario’s premier home builders, Brookfield Residential is widely recognized as an industry leader and innovator. From green building, sustainability, and smart home innovations to transforming the customer experience and leading the way in diversity, equity, and inclusion initiatives, Brookfield Residential consistently demonstrates its leadership.
their front door – because good design extends beyond the home and into the community. This goal and Brookfield Residential’s notable industry leadership were recognized and rewarded this year, as the builder and developer took home several distinguished awards at the 2022 Building Industry and Land Development Association (BILD) Awards and the Durham Region Home Builders’ Association (DRHBA) Awards of Excellence. Being recognized by the homebuilder industry associations in the areas in which it builds new homes and master-planned communities, including the Durham Region and the GTA, is extremely meaningful to the team at Brookfield Residential.
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The BILD Awards recognize excellence and innovation in the design, construction, sales, and marketing of new homes in the Greater Toronto Area, and Brookfield Residential was honoured to be awarded with the highly-coveted Home Builder of the Year Award (Low-Rise). This award recognizes a builder who’s setting the standard for the rest of the industry through their professionalism and dedication to excellence. The team at Brookfield Residential was especially proud to win this award since a key component of the judging process is a customer satisfaction survey, which ensures that the end user’s experience is factored into the award criteria. Creating an excellent customer experience is one of the main goals at Brookfield Residential, and the company highly values its homeowners’ testimonials. Brookfield Residential was also a finalist for several other 2022 BILD Awards, including Green Builder of the Year, the Diversity, Equity and Inclusion Award, and Best Project Branding and Identity for its Midhurst ValleyBrookfieldcommunity.Residential was thrilled to take home an incredible nine awards at the DRHBA Awards of Excellence this year too, including Corporate Citizenship, Community of the Year (for Winding Trail in Uxbridge), Sales Team of the Year (for Lakewind in Ajax), Green Builder of the Year, and Builder of the Year.
28 HOMES Magazine | Aug. 27–Sept. 24, 2022
“We were very honoured to be recognized at this year’s BILD and DRHBA Awards, especially as Home Builder of the Year,” says Sid Kerrigan, president of Brookfield Residential, Ontario. “We look forward to continuing to build homes and make dreams come true for more homeowners in the future.”
A dedicated customer care team supports each and every homeowner along their homeownership journey, and each homeowner has access to their personal myConcierge, a dedicated Brookfield Residential team member who will guide them through the process of their new home’s construction and movein. The Brookfield Residential App keeps homeowners connected to the progress of their new home’s construction. Once they move in, Brookfield-hosted community events help them to meet their neighbours and get involved in their community. And with additional warranty coverage, meet-your-builder meetings, closing day celebrations, and more, homeowners benefit from Brookfield Residential’s dedication at every turn.
INTRODUCING WINDING TRAIL, DURHAM REGION’S COMMUNITY OF THE YEAR
GOING THE EXTRA MILE TO CREATE AMAZING CUSTOMER EXPERIENCES
Brookfield Residential’s DRHBA Community of the Year award winner was its Winding Trail community in Uxbridge, an exclusive collection of 39 luxurious bungalow townhomes idyllically situated between the Wooden Sticks Golf Course and protected green space. This boutique enclave community’s homesites have generous 36-ft. frontages for townhomes, allowing them to feel like wide, detached homes, appealing to the unaddressed target market of empty nesters and downsizers, while delivering exceptionally designed streetscapes, which is exemplified by the homeowners’ pride of ownership in care. With a cozy cul-de-sac and an abundance of green and open space surrounding the homes, the community vision for Winding Trail was to create a tranquil getaway designed for retirees. The homes boast views of the fairway or forest, making Winding Trail a peaceful, pleasantLookingretreat.toward the future, Brookfield Residential is focused on continuing its mission of building The Best Places to Call Home. Furthering its history of developing distinctive master-planned communities throughout Southern Ontario, the builder is currently working on the development of Station No. 3, a new boutique condo coming to downtown Whitby, as well as a series of master-planned developments both inside and outside of the GTA, for wherever life takes you (including New Seaton in Pickering, Heartland in Baxter, Midhurst Valley in Midhurst, and many more communities coming soon).
A FOCUS ON SUSTAINABILITY Being a finalist for Green Builder of the Year at this year’s BILD Awards and winner of the Green Builder of the Year award at the DRHBA Awards of Excellence was a reinforcement to the team at Brookfield Residential for its commitment to these practices, as the builder has long been an innovator in the realm of green building. Brookfield Residential’s focus on consumer education (including its “myEnergy” brand), environmentally-friendly building designs and techniques, leadership in advancing green building awareness (including via partnerships with LEED, Energy Star, Enercare, and more), and leading-edge waste management strategies have established the company as a clear industry leader. From land acquisition and development through to construction and materials, the team considers and prioritizes sustainability at every step. This means better construction quality for its homes and a healthier indoor living environment for its homeowners.
Brookfield Residential’s goal is to continuously strive to improve all aspects of the customer experience, from superior building practices to exceptional customer care. This dedication to customer service can be seen at every step of the Brookfield Residential journey, from homeowners’ new home purchase to making their personalized selections to the homebuilding journey, homeowner orientation, move-in date, and beyond.
A T RE E FO R EVE RY HER O. Join us in planting 2 million trees along the 401 Highway of Heroes, a tribute to the men and women who fought for Canada in our wars, and a living memorial to the 117,000 who died for freedom. Get involved today: As part of Trees for Life’s Tree Coalition, we are proud to work collaboratively with GrandTrees Climate Solutions.
Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.
BURLINGTON In Burlington, a city with a population of approximately 183,315 people, the building industry provides over 5,300 local jobs, paying $363 million in wages. These jobs are highly localized, with most people living and working in the same region. This means that all the wages paid out support purchases across the entire local economy. In addition to these local investments in Burlington, in 2021, new homebuilders also
COLLINS-WILLIAMSMIKE
New data from the Canadian Home Builders’ Association paints a clear picture of the success of the industry in generating local investment and significantly contributing to the prosperity and strength of our localTheeconomies.homebuilding industry is the engine that drives Ontario’s economy and is one of the largest financial forces in Burlington and Hamilton, generating immense economic activity. This includes thousands of high-paying jobs supporting household income, as well as millions of dollars in fees and taxes that become revenue for local governments. As the two key cities where the majority of WEHBA members operate, let’s have a look at the impact our industry has in Hamilton and Burlington.
MORE CONTENT ONLINE nexthome.ca VIEW
BUILDING THE WEST END BRINGS JOBS AND ECONOMIC DEVELOPMENT+
started construction on more than 500 homes for current and future Burlington residents. HAMILTON Hamilton has a larger population than Burlington, at about 569,355 people. This translates to approximately 23,000 local Hamilton jobs provided by the homebuilding and renovation industries. These are well-paying, on- and off-site jobs, that provide $1.6 billion in local wages. These wages support people and families living in the Hamilton region, as well as our local businesses through local purchasing power. Similar to Burlington, builders began construction on 4,187 new homes for Hamiltonians in 2021 alone. Future homeowners view the purchase of a new home as a personal investment, and as such, these new units give families the opportunity to start building their own wealth. This method of wealth generation contributes approximately $3.2 billion in investment value to Hamilton families. In fact, the residential construction industry is the largest single wealth builder for most families in Ontario and in Canada. The new home construction industry is crucial to the local, provincial and Canadian economies at large, creating jobs and generating income that help our communities thrive. While we absolutely need to be building more, and streamline the development process, to facilitate new home construction, WEHBA members are working hard to reduce the shortage of homes in the region while significantly contributing to our local economy, community and prosperity.
30 HOMES Magazine | Aug. 27–Sept. 24, 2022
ADVICE | WESTERN
Addressing Ontario’s housing shortage by building homes is the key to solving our affordability problems and improving our economy.
The one scenario to be aware of is a significant increase in interest rates. Yes, rates may climb – some economists predict as many as six small increases over the next two years – and inflation has risen.
ADVICE | LEGALLY SPEAKING
When you walk through the front door, you know this is your home – a place for you, your family and your pets. In addition your financial gain is, so far, tax free.
PREPARING TO
The law of supply and demand dictates price. As immigration continues to increase and housing inventory remains low, prices will ordinarily continue to rise, or at the very least remain stable. Can a price adjustment happen?
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” Once you buy, don’t even think about home’syourvalue; just enjoy it and pay off as much of your mortgage as you can.
If you are buying a home as your principal residence, it’s always the right decision if you can carry it, even if rates rise. The performance of the GTA market over the last several years indicates that if you wait, it’s likely going to cost you more; a lot more. Homeownership as a principal residence satisfies many needs. The best way to protect yourself in a rising interest rate environment is to put down a large down payment, as this hedges against rate increases. If you are not able to do that, but have good cash flow, you may still be fine, and in both cases your goal should be to hold for the long term. This will likely yield price growth, despite the ups and downs, and in the end it will prove to be the best investment you ever made. After all, where else can you “enjoy” your money every day? BUY IN UNCERTAIN TIMES
Today’s prices require significant cash invested to make that scenario work, especially if mortgage rates go up. My advice, be very careful.
These issues can be complicated, but for you as a prospective homebuyer, your focus is more narrow: Save as large a down payment as possible, consider taking the longest mortgage you can with the shortest amortization you can afford, lock in your payments, and plan for contingencies. Remember, every blended payment reduces your outstanding principal, and this will help you with payments even if there has been a rate increase, when it’s time to Oncerenew.youbuy, don’t even think about your home’s value; just enjoy it and pay off as much of your mortgage as you can. The value will always be there. Face the future with confidence, knowing you made a wise homebuying – and investment – decision.
“
+MORE CONTENT ONLINE nexthome.ca
COVID and supply shortages have had an impact around the world, and the cost of living has risen everywhere. If the untangling of the supply chain doesn’t fix the problem, and the thousands of people affected by the pandemic don’t return to work, the cost of living will continue to rise. However, many experts believe that once the supply chain returns to normal, inflation will settle at the acceptable level of two to three per cent per year. Governments, though, don’t always act rationally when people cannot afford to buy groceries, and they believe prices must be brought under control. This inflation is different, because it’s brought on by shortages, not wage increases. If the Canadian and U.S. governments overreact to inflation and raise interest rates too much or too quickly, the economy will suffer and the housing market may be detrimentally affected. Let’s hope rational thinking prevails, and rate increases are slow, measured and effective.
Home prices are falling in some cases and interest rates have risen. What does this mean for you, as you consider buying a new home? Real estate is the most important investment that most people will make in their life. The single biggest rule in any real estate purchase is this: Do not go into a real estate deal thinking you can pull off a quick flip. If you can hold for the long term, you will rarely go wrong. In these most interesting times, the biggest risk is to the investor group.
SCHWARZ,JAYSON LLM 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.
IN CONVERSATION WITH...
VICE-PRESIDENT, SALES AND MARKETING, DUNPAR HOMES
32 HOMES Magazine | Aug. 27–Sept. 24, 2022
SARRAPOCHIELLOMIRELLA
Dunpar has something of a focus on the “missing middle” type of housing – long before this need became such a focus. Where did this foresight come from? It was in 1981 that Dunpar first started renovating stately, older homes in downtown Toronto and developed a passion for continuing to build homes of a similar design, but that were more affordable than single family. Hence the company’s launch into stately townhomes that has taken Dunpar to locations right across the GTA. The buyer reaction has been extremely positive, primarily because of the home designs both inside and out and the manicured landscaping that compliments every community we build. We have found that some people who purchase a Dunpar home, then move, end up by coming back to a Dunpar Home in another community we have built. How are things coming along at Boutique Towns on Lake Shore in Etobicoke? Boutique Towns are currently in the registration stage and sales have not yet begun. As a result, we do not yet have a definitive construction schedule or occupancy date. And at Lambton Towns in St. Clair Ave. West? Lambton Towns were launched a few months ago with a consistent level of registrations and enquiries. Initial sales were solid, however, in view of the current market conditions and purchasers’ concerns about mortgage
by WAYNE KARL
When you’re looking to buy a new home, you want to know that your builder is not just up with the times, but also has your personal needs and wants in mind. At Dunpar Homes, finding its customers the perfect property is not only part of its mandate, the company says its buyers are the most important part of its story. And from building much needed “missing middle” housing in the GTA, to offering luxury rental properties, and to developing a full mixed-use neighbourhood around a shopping mall rejuvenation, Dunpar is evolving with the Vice-Presidenttimes.
Sales and Marketing Mirella Sarrapochiello explains how the company is delivering on today’s homebuyer demands, in the face of some of the challenges facing the industry.
What’s on your reading list these days? Where the Crawdads Sing – a great first book for Delia Owens, which has also been made into a movie. location that is the draw and the great services and environment of the building itself. People really like living there. When Dunpar launched this project, it kind of signaled a move to more rental properties. What has happened in this category since then? We are clearly seeing a significant increase in the building of purposebuilt rental buildings across the GTA. With the high cost of purchasing a home, the increase in immigration with so many people needing a place to live, and companies seeing the financial benefits of having properties they own and manage, this product presents a solid option for business owners and investment funds. There’s so much concern about affordability these days. How is Dunpar dealing with this issue, to the benefit of homebuyers? This is a constant challenge for most builders today, for we are at the mercy of the suppliers, contractors and municipalities. Toronto’s decision to increase the development charges by 46 per cent over the next few years will affect all developers in how they build and source materials. We are doing our best to build as efficiently as possible, but will have to adjust if materials costs increase.
rates, the number of enquiries and sales has somewhat slowed. We anticipate beginning construction in spring 2023, and occupancy to be late 2025. What is it about these neighbourhoods that led Dunpar to commit to building there? When Dunpar identifies a possible site for a new community, we often look for a location that is going through a regeneration. These locations often lend themselves to the need for new housing and our townhomes are usually an ideal product to build in these areas. What else goes into selecting the neighbourhoods in which you choose to build? We generally look for good access to transportation, whether it be by GO, TTC or main thoroughfares, for those driving. In addition, as our homes are usually occupied by families, we look for schools in the area as well as parks and local shops and services. All of these requirements are met with Lambton Towns and our Streetsville Village homes, now under construction. What is the status of Kingsway Village Square, the boutique luxury rental, on Prince Edward? Kingsway Village Square is currently fully leased, and we are really pleased about it. We believe it is the terrific What are you especially proud of with your involvement in this industry? We are especially proud of not compromising on the quality of the homes we build. We make every attempt to improve our product with each project we create and never stop learning. If you weren’t in homebuilding, you would be… To be honest, I would be doing exactly what I am doing now, as I love this industry.
on a personal note
Dunpar’s Project Director, Taylor Rogers, has more than 15 years of experience in construction with an excellent reputation, and has established great relationships with the trades. Fortunately, for us, this has helped address the labour shortage problem and keep construction moving on our sites. To assist the trades, we have been able to purchase in advance a large amount of the materials we need for our homes and warehouse them until we need them – everything from flooring to kitchens. In this way, we are able to more accurately schedule a lot of the construction timing, making it much easier for the many trades we work with to plan. In addition, this helps us control the costs for our purchasers.
What’s next for Dunpar?
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dunparhomes.com
And what about the other issues the industry is facing – labour shortages and rising costs? How is Dunpar managing those?
Dunpar has purchased the Sheridan Mall in Mississauga and renamed it Sherwood Village. We are in the process of redefining and restoring the mall. More information will be available this fall. We are also in the final stages of building a commercial office space on Jutland in Etobicoke and the first phase has already been sold out. We are now launching the second phase of the project.
Canada has increased its immigration targets in recent years, as part of its plan to continue to grow the Canadian economy, and this requires more housing for newcomers.
INFORMED
Housing demand was stoked further by monetary and fiscal stimulus following the COVID-19 outbreak. A well-functioning housing market also requires that supply grow in a timely way in response to increased demand and this was largely absent prior to the recent pandemic.
ADVICE | THE ECONOMIST 34 HOMES Magazine | Aug. 27–Sept. 24, 2022
To suggest there is a silver bullet that solves Canada’s housing supply problem is to oversimplify a complex problem. Turning a blind eye to the demand side of the market is also not prudent. In fact, over the last decade, demand factors such as low interest rates, employment growth and strong in-migration explained about one-third of the increase in Ontario home prices.
HOUSING PROBLEM
AN LAND USE PLANNING PROCESS IS CRITICAL TO SOLVING CANADA’S
A recent report from Canada Mortgage and Housing Corp. (CMHC), suggests that an additional 3.5 million homes will be needed by 2030, over and above what is already produced annually, to restore housing affordability in Canada. More than 1.8 million of those additional homes will need to be built in Ontario. The most important questions are how we can get there, and what mix of housing will be needed. Finding the answers to these questions requires cities and regions to embrace, among other things, new analytical
TSIAKOPOULOSTED
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Revisiting case studies, such as the Bessarion subway station experiment in the North York suburb of Toronto in the early 2000s, can provide us with lessons learned. These lessons can be applied to neighbourhoods such as the Bloor West Village and Danforth Village areas, which are short on suitable housing supply, but desirable to city residents.
Indeed, by designing such “upzoning” scenarios 500 metres and one km away from transit, and running the rezoning assumptions through the UrbanSim microsimulation land use models, we found that some of the excess demand could be satisfied. Furthermore, this upzoning would enable more complete and inclusive communities enabling middle to lower income households to secure alternative housing options with excellent access to jobs and transit. While easing zoning regulations is a necessary condition, it is not sufficient on its own. Other barriers also need to be addressed simultaneously. Structural barriers, such as neighbourhood resistance to more density (NIMBYism), land value uplift from more density, shortage of skilled trades, lengthy planning approval processes, and government development charges, can result in fewer viable housing projects.
RESTORING ORDER WITHOUT DESIGN
DENSIFYING COMMUNITIESYELLOWBELTINTORONTO – A KEY PIECE OF THE PUZZLE
A large portion of Toronto, including Bloor West and Danforth Village, are largely zoned exclusively for single-family detached housing, and could offer significant potential for more density and supply if rezoned.Theseneighbourhoods are often adjacent to major avenues and streets that are near transit and other amenities. These neighbourhoods are also often home to over-housed aging households who would like to remain in the community, but have few alternative, maintenance-free housing options. By building more “missing middle” housing, which includes secondary suites, triplex/ duplexes and midrise condos, aging households would be given more housing alternatives, thereby encouraging much-needed turnover of the existing housing stock. This could free up single-family homes that are in greater demand by under-housed younger families.
Alan Bertaud, a world-renowned urban planner, suggested in his 2018 book, Order Without Design: How Markets Shape Cities, that more coordination and collaboration is required between those who set zoning regulations (planners) and those who understand the market impacts of those regulations (economists). As Bertaud endorsed in a recent economist association event in Toronto, such coordination can come in the form of new analytical techniques that could inform zoning changes, and infrastructure investments.
+MORE CONTENT ONLINE nexthome.ca Ted Tsiakopoulos is a professional economist, author of Property Trendsetters: Successful Toronto Real Estate Experts Share Key Insider Secrets, and sought-after speaker with more than 25 years of experience analyzing housing and financial markets. He has also worked as an investment counsellor on Bay Street in Toronto. ttsiakop@cmhc.ca or LinkedIn/Ted Tsiakopoulos. approaches to help inform land use and transportation planning.
The recently announced Housing Accelerator Fund, as part of the recent federal budget tabled, is meant to incentivize cities to break down these structural barriers and deliver more housing.
CMHC is working with provincial, municipal and non-government partners to build and refine urban land-use models such as UrbanSim, to provide urban decision-makers, and the citizens they serve, with improved access to urban market simulation tools based on timely, reliable data. The models seek to understand which submarkets are most in need of housing, and how shifts in broader land use, zoning, transportation, economic and migration policy can get us closer to meeting housing needs. The dialogue, data and simulation tools created from this work will contribute to better housing supply, a more stable housing market, and more inclusive and environmentally sustainable urban regions across Canada.
THE GREENWICH – ELEVATED LIVING ON OAKVILLE’S UPPER WEST SIDE
There’s still time to be a part of Branthaven’s multiple award-winning Oakvillage community in Uptown Oakville. Following the sold-out success of Upper West Side Condos 1 and 2, The Greenwich is the latest condominium in the sought-after Oakvillage neighbourhood. Recently opened to great success, The Greenwich delivers the high style and award-winning designs Branthaven is renowned for. The Greenwich features a full range of floorplan options, from stylish one-bedroom suites to stunning three-bedroom layouts. Whatever layout you choose, every plan includes Branthaven’s signature feature-filled Fresh Thinking kitchens and bathrooms. The Greenwich has a full complement of upscale amenities from social spaces, entertainment lounges and private dining room, NYC-style movement studio and destination rooftop terrace with outdoor cinema for a chic hotelinspired lifestyle.
To learn more about The Greenwich, call 905.333.6162 for limited time pre-construction incentives. OR TOWNHOME?
36 HOMES Magazine | Aug. 27–Sept. 24, 2022
For more than 50 years, Branthaven has been recognized for its passionate and uncompromising pursuit of
today’snew-homeconfidenceprovideshomecustomerfeaturesdesigns,hometrustedBranthavenlowrisetownhomehighriselookingexcellence.homebuildingWhetheryou’reforacontemporarycondominium,luxuriousorfamily-friendlycommunity,consider–oneoftheGTA’smostbuilders–foryournextpurchase.Branthaven’saward-winningsignatureFreshThinkingandfinishes,celebratedserviceand“bestbuiltatanyprice”qualityassurancethepeace-of-mindandhighvaluesavvybuyersdemandinmarket.
BRANTHAVEN HAS THE PERFECT MATCH FOR YOU Queen’s Lane, Brampton – The Devon Townhome
BUILDER PROFILE CONDO
Take a look at these “new and now” high- and lowrise communities, and you’ll discover Branthaven’s attainable luxury and accessible home ownership – get ready to Live the Life you have always wanted with Branthaven.
The sixth-floor High Line Club – a communal rooftop terrace with barbecues, fire pit and cabanas –will be the perfect perch to overlook the verdant treetop canopy next door, and take in the forever views of the Escarpment skyline beyond. Register now for High Line Condos at branthaven.com
QUEENS LANE RAVINE TOWNS –CROWN JEWEL IN BRAMPTON
Now’s the ideal time to truly experience the magic of Queens Lane, Ravine Townhomes. Set against a backdrop of majestic trees and the meandering Huttonville Creek ravine, Queen’s Lane is the jewel in the crown of southwest Brampton where it meets Mississauga Road. Nestled on a private lane, culminating in a landscaped cul-de-sac, the Queens Lane site is now prepared and ready to “walk before you buy.”
Queens Lane’s classic English-inspired architecture offers two elevation types curated with complementary colours and quality brick and stone for a very upscale custom enclave.
Recently voted “Best Townhome Design” by the West End Home Builders’ Association (WEBHA), Millcroft Towns is an exclusive enclave of luxury townhomes offering a rare opportunity for carefree home ownership in a landmark community. With construction started and more than 90-per-cent sold, Millcroft Towns is a showcase of elegantly modern architecture and designforward interiors that truly resonates with sophisticated move up buyers. Custom-inspired plans boast twoor three-storey layouts, formal yet relaxed living spaces, chef’s kitchens, dual primary suites or three-bedroom options, luxury ensuite, finished lower levels, private terraces and walkouts – there’s even an elevator option. Everything has been curated for chic townhome living. The final few remain. So, here’s your chance to Live the Life in Upper Burlington. Construction has begun. Call today for a private appointment. 905.333.6151.
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While the exteriors have timeless appeal, the interior layouts put today’s lifestyle and residents’ needs first –family-friendly four-bedroom plans, open-concept flow for relaxed living, feature-filled kitchens and spainspired bathrooms, handy outdoor deck and easy ground level patio doors to access the rear yard. Call 905.333.6160 today to visit the fully decorated sales centre and take a site walk.
HIGH LINE CONDOS – A NEW LEVEL OF LUXURY COMING SOON TO MISSISSAUGA
Millcroft Towns, Burlington – Streetscape
The Greenwich, Oakville – Trafalgar Entrance
An intimate boutique residence, High Line Condos’ six storeys are high on style. The bespoke architecture and organic materiality are directly influenced by the naturally beautiful, protected forest next door. The contemporary design will certainly be a striking silhouette on Mississauga’s Ninth Line. Defined by its long low profile, warm wood accents, sweeping glass expanses and welcoming internal courtyard, High Line Condos will offer the best of carefree condo living. A full range of one-bedroom to two-bedroom plus den suites will offer clean lined, contemporary interiors crafted for living well. Fresh Thinking designer features and custom colour palettes will also be on offer. Depending on the choice of plan, residents will be delighted by the options of suites with either landscaped ground level street entrances, forest fronting patio walkouts, furniture-sized balconies or spacious private terraces – everything is considered for easy indoor-outdoor connections.
MILLCROFT TOWNS – UPSCALE LUXURY IN UPPER BURLINGTON
The property itself is reclaimed land from what was once a famous hot spot, the Erie Beach Amusement Park, which 100 years ago attracted steamship ferries, roaring 20s big band orchestras and hundreds of thousands of visitors. The location is exceptional. Case in point: Silvergate’s nearby Amuse by the Lake community sold out in a matter of weeks in 2017. “Our homebuyers were absolutely thrilled to move to such a unique location,” says Mike Passero, vice-president of Silvergate Homes. “With Harbourtown Village, we’re excited to recreate such an opportunity all over again and
FORT ERIE: NIAGARA’S HIDDEN GEM WELCOME TO HARBOURTOWN VILLAGE AT ERIE BEACH BY SILVERGATE HOMES BUILDER PROFILE | NIAGARA 38 HOMES Magazine | Aug. 27–Sept. 24, 2022
Fort Erians have the best of both worlds: Quiet, beach town living, yet with superb access to big city amenities. So, it’s no surprise that the town – with its convenient QEW access – is now on the radar for many couples, families and downsizers choosing to escape urban hustle and bustle to set down roots in scenic, relaxed Niagara. Until now, few knew much about this hidden gem on Niagara’s south coast. But word is getting out. It’s a thriving community of more than 30,000 that, like the rest of the Niagara Region, is becoming increasingly attractive to GTAers. There may be no better opportunity to make Fort Erie home than Harbourtown Village, by awardwinning Silvergate Homes. One of Niagara’s most accomplished homebuilders, with a 40-year track record of quality and service, Silvergate is well known in the area for building upscale communities in uniqueHarbourtownlocales. Village is poised to be the jewel in the Silvergate Homes’ portfolio of beautifully and meticulously crafted homes. The community comprises a limited collection of single-family homes and townhomes, in a secluded area along Lakeshore Road, between Historic Fort Erie and popular Waverly Beach (just one of many beaches that dot the Lake Erie shoreline – Fort Erie has more waterfront than any other municipality in Niagara).
Fort Erie is home to dozens of major retail, restaurant and banking chains, making every day errands easy and convenient. If you need something more specialized, Niagara Falls and St. Catharines are only 20 and 30 minutes away, respectively, with big box stores and major shopping malls including the Outlet Collection at Niagara, the Pen Centre and Canada One Outlets.
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Passionately designed, Silvergate fuses striking exteriors, unique lines and exceptional spaces. The homes at Harbourtown Village are a testament to superior craftsmanship and true luxury living. Harbourtown Village is a place to call home like no other. A short jaunt to the waterfront, where Lake Erie begins its flow into the mighty Niagara River, this exceptional location combines the tranquility of Niagara’s south coast with the convenience of amenity-rich living.
welcome people to this awesome beachfrontSilvergatecommunity.”Homesindeed brings Harbourtown Village to life – an upscale lakeview neighbourhood with a perfect synergy of modern design and small-town charm.
Fort Erie’s growth in recent years was a key factor in the siting of the new South Niagara Hospital, with groundbreaking targeted for later this year. The state-of-art-facility – to be the biggest in Niagara by square footage – will be built about five minutes away from Fort Erie’s boundaries and about 15 minutes from the Harbourtown community. A thing that sets Fort Erie apart from almost every other small Ontario community is its proximity to a major U.S. city. Buffalo is just a hop, skip and jump away. With the Peace Bridge now reopened after a long pandemic-driven shutdown, Fort Erians are eagerly returning to their cross-border traditions. Buffalo offers a whole new world of entertainment, professional sports, arts and culture, shopping – and of course chicken wings. When you live in Fort Erie, you’ll definitely appreciate the convenience and cost-effectiveness of flying out of Buffalo International Airport, whether to sunny Florida, the bright lights of New York City or a myriad of otherWhiledestinations.Harbourtown Village is just minutes away from the Peace Bridge, it’s still secluded and surrounded by nature. It’s steps away from the 24-km Friendship Trail – linking Port Colborne to Fort Erie – which connects to the lake-to-lake Niagara River Recreational Trail. Churchill called this stretch “the prettiest Sunday drive in the world.” With such enjoyable local amenities, it’s definitely easy to stay active in Fort Erie. And if you’re a water enthusiast, look no further, because the community is a paradise for boaters either docking at the Niagara Parks Marina or set to water from one of many public boat launches. Fishing aficionados too are regularly seen casting their lines from a number of spots along the river’s shore. Sales at Harbourtown Village are expected to begin later this year, but Silvergate Homes is welcoming registrations to keep interested homebuyers updated in the months ahead. Visit silvergatehomes.com for more details.
NORTH YORK: KENNETH & HOLMES
AJAX: ATOWNS
Move-in ready townhomes available now Make the most of your opportunity to own in the heart of North York, with move-in ready townhomes, each with two parking spaces and two lockers included, now available at Kenneth & Holmes. With this limited release of contemporary urban towns, live steps from Yonge and Finch in an intimate residential enclave connected to everything that matters. Register now at fieldgatehomes.com for your chance to own in this limited release before it’s too late.
Coming soon – freehold towns with four bedrooms and two-car garages A serene natural landscape merges with the convenience of incredible big city amenities at Pickering’s awaited Seaton community, coming soon. Live at the crossroads of classic and contemporary, with a remarkable collection of freehold two-car and single-car garage townhomes, with up to four bedrooms, in a skillfully designed community setting. This new community truly has something for everyone, with Pickering Town Centre, beautiful Lake Ontario, shopping, greenspaces, restaurants, Toronto’s eastern border and so much more just minutes away. Be first to own during the Seaton Grand Opening by registering now at fieldgatehomes.com.
Fieldgate Homes is now open for purchasing by virtual sales appointments across the GTA. You can connect by phone, video chat or email for a secure and convenient homebuying experience. Sales teams are waiting to help you find your perfect Fieldgate home. Explore these featured communities and contact the company today.
SHELBURNE: EMERALD CROSSING
Now open by virtual appointment only – 36- and 40-ft. singles from $1.7 million
The final release at Emerald Crossing is now open, meaning now’s the time to discover a beautiful country landscape surrounded by every modern convenience imaginable in Shelburne’s most anticipated new home community. Enjoy a collection of 36- and 40-ft. singles available now, just minutes from big brand outlets, remarkable restaurants, breathtaking greenspaces, ski hills, golf courses and so much more. Shelburne has been Canada’s second-fastest growing municipality, so there’s no better time to get in on its best new home opportunity. Register now at fieldgatehomes.com.
PICKERING: SEATON
YOUR DREAM HOME AWAITS IN FIELDGATE’S SIGNATURE GTA COMMUNITIES BUILDER PROFILE
The Park Collection now open –Urban Townhomes from $1.1 million The final release of stunning urban townhomes at the aTowns Park Collection in Ajax is now available. At Bayly Street and Salem Road, discover new family-sized residences backing onto open greenspace, a series of parkettes, sports court, and more, all connected by winding walking trails weaved throughout. Better still, live surrounded by modern amenities, all mere moments from Lake Ontario. Get the most out of Ajax’s bustling downtown area and enjoy great shopping, tasteful dining, convenient GO Transit, easy access to Hwy. 401, with much more all nearby. Register now at fieldgatehomes.com.
40 HOMES Magazine | Aug. 27–Sept. 24, 2022
Introducing executive waterside living in a natural enclave setting with Valleylands of Sixteen Mile Creek, coming soon to Milton. Take advantage of your rare opportunity to own 30-, 36- and 43-ft. detached riverside residences with lots backing onto Sixteen Mile Creek. Moments to southern Ontario’s most acclaimed golf courses and protected greenspaces, retail and restaurants, schools, services, and access to the most convenient transit options, embrace a lifestyle unlike any other in Milton. Register now at fieldgatehomes. com for exclusive updates and priority purchase opportunities on Valleylands of Sixteen Mile Creek.
STOUFFVILLE: CITYSIDE
Coming soon – Grand Opening of 36- and 40-ft. singles Make your dream home come true in an incredible community setting just moments from Stouffville’s best amenities. Featuring a new release of 36- and 40-ft. singles, embrace city sophistication and country charm from an ideal neigbourhood located close to Markham, Hwys. 404 and 407, and the Stouffville GO station. Register now at fieldgatehomes.com.
Coming soon to Milton – executive 30-, 36- and 43-ft. detached homes
IMPRESSIONS: NEW KLEINBURG
MILTON: VALLEYLANDS OF SIXTEEN MILE CREEK
Coming soon – Grand Opening of freehold townhomes
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New Kleinburg is a community of inspired family residences in a beautiful setting, just moments from the heart of historic Kleinburg. With the future Hwy. 427 extension, just minutes away, a new community school and excellent urban amenities close at hand, life in Kleinburg has never been more convenient. Coming soon, discover a remarkable collection of expansive townhome designs in this beautiful masterplanned community. Register now at fieldgatehomes.com.
WEST WHITBY: WHITBY MEADOWS Grand Opening coming soon – new release of freehold townhomes, semis and singles. A new release is coming soon with the Grand Opening of Whitby Meadows Phase 3. Take advantage of spectacular residences in one of the GTA’s most popular communities, with all-new townhomes, semis and 36- and 42-ft. detached designs. Find a master-planned community offering west Whitby’s best lifestyle near shopping, restaurants, Iroquois Park
NORTH OSHAWA: DREAMSCAPE Register for the Grand Opening of townhomes, 30-, 36- and 42-ft. detached singles Enjoy affordable living in north Oshawa, with the residences of Dreamscape, now open. This highly anticipated new home community offers a superb mix of expertly designed and crafted townhomes, 30-, 36- and 42-ft. singles, all moments from the best modern amenities Durham has to offer. Big box stores, bespoke boutiques, delicious dining, great schools, trails and conservation areas await those who call Dreamscape “home.” Register now at fieldgatehomes.com. Sports Centre, Whitby GO station, Heber Down conservation area, excellent schools and more. Register now at fieldgatehomes.com.
DEEPER
BALANCED
At Baker Real Estate Inc., we are busier than ever. We recently launched three of the GTA’s most anticipated and significant condominium communities, and our pipeline for the remainder of the year and into 2023 is robust, with no hint of Imaginecancellations.mysurprise when in late June, I read about a real estate research firm’s analysis that referred to “…5,000 units that are already in the market that could cancel.” This shocked me for a couple reasons. First, where did that number come from? Who did they ask? What does “could cancel” mean? How do they know? There is no mention of any survey conducted or statistical analysis. No one asked us at Baker. The piece came out when we were in the throes of those three major
GTA NEW HOME MARKET IS DOING JUST FINE +mOrE CONTENT ONlINE nexthome.ca ADVICE | REAL ESTATE PRO 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
A TRUTH RESEARCH SHOWS THE
Second,launches.Ibelieve firmly in the self-fulfilling prophecy: Tell people something is bad, and they’ll make it bad. Why would anyone, let alone several media outlets, print something so damaging to the market when it does not reflect a balanced truth? My advice is to take what you read and hear in the media with a grain of salt – especially headlines, which far too often unfairly mine for the negative. Contrary to what you may have read, well-established new home and condo developers are going ahead with gusto when it comes to launching sales.
Take Forma, which is one of the most anticipated launches of the year – possibly in Toronto’s history. This three-way partnership among Great Gulf, Dream and Westdale features architecture by the great Frank Ghery. A Toronto native, Ghery has gone all out to create architecture that will be iconic on the skyline at the nexus of the Financial and Entertainment Districts.
We are also currently launching the new phase at Brightwater in Port Credit West Village. Called Bridge House, this condominium offers idyllic waterside living with spectacular views of the lake and park. Brightwater is brought to you by West Village Partners, a shared partnership among the prestigious firms DREAM, Kilmer Group, Diamond Corp. and FRAM + Slokker. Then there is the second phase at The Dawes Condominiums East of Main by Marlin Spring. This new condo is in The Danforth’s highly sought-after and emerging east end neighbourhood. With direct views to Lake Ontario, Woodbine Park and the beach, the location is close to nature and amenities. Designed by award-winning IBI Group architects, the contemporary tower will rise to 38Allstoreys.ofthese condominiums are coming onto the marketplace fearlessly. Are there ever delays? Sure, but that is something developers face all the time due to approvals and zoning taking longer than anticipated. And remember that the most positive part of our market today is our population growth, which tops the G7 nations. With Canada’s welcoming positioning on immigration, we will need more housing than we are capable of building. We will see the continuation of a demand exceeding supply situation and prices will rise. Keep in mind, as well, that for the seventh consecutive year, in the first quarter of this year, Toronto led the crane count in North America, according to the RLB Crane Index. That says a lot. So, before you hesitate to buy a new condominium suite because of shocking headlines in the news, do some research and discover the balanced picture.
lAWBArBArAlOr
42 HOMES Magazine | Aug. 27–Sept. 24, 2022
• Go to contestsrenoanddecor.com/orscantheQR • Select this contest within the listing and click Enter to Win. For full contest details & rules visit the link above. Online:Enter hisense-canada.com | FB: @HisenseCA | TW: @HisenseCA | IG: @hisenseca | YT: @HisenseCA atTheatreHomeContest Enter for chance to win a 100” Hisense L9G Series 4K Smart TriChroma Laser TV! Retail Value: $5,000! This may be as close as you can get to a true theatre experience without leaving the comfort of your home. Contest Retail $5,000! You couldWin!our Enter our Work Like a Pro Contest! www.stanleytools.ca | @stanleytoolsca YOU COULD WIN A STANLEY® TOOLBOX FILLED WITH TOOLS! RetailValue $300 For full contest details & rules visit the link above. • Go to renoanddecor.com/contests • Select this contest within the listing and click Enter to Win. OnlineEnter
The first step to establishing a realistic budget is understanding how much money is coming into your bank account, and how much is leaving on a monthly basis. This can take the form of fixed monthly expenses, such as your car payment or other costs you frequently incur. You can start by reviewing your finances from the last three months. This will give you a solid overview of your monthly income, along with your aggregated expenses and average monthly spending. It will also help you identify patterns in your spending that can potentially be avoided, as well as bring your attention to expenses you may not be aware of, such as monthly subscriptions we often forget about. +MORE CONTENT ONLINE nexthome.ca
STEP 2: UNNECESSARYELIMINATEPURCHASES
This next step is essential because it gives buyers an opportunity to evaluate where their money is going and make the necessary changes. Once you understand what your household is earning and spending, it’s time to start cutting expenses and saving. What this really means is cutting back on non-essential spending.
Although prices in fuel and food are on the rise, these are two examples of essential purchases many Canadians can’t go without. That’s why being conscious of non-essential spending has become that much more important to us, especially if we’re planning to buy a home. Consider cutting expenses such as dining out, reviewing monthly subscriptions such as Spotify or Apple Music, deferring vacations or a new vehicle.
While this might not “feel” like saving, paying off your debt can save you a great deal of money. For example, if you have credit cards or a line of credit, you’re saving on the interest charged to your unpaid balances – which can fluctuate significantly. It’s important to remember that the highest interest rates are most often associated with credit cards. Minimizing your debts is also one less monthly expense, and can do wonders for your monthly budget. The faster you rid yourself of debt, the faster you can save for a downEliminatingpayment.debt also serves as a good primer for your mortgage application. Your debt-to-income ratio (total monthly debt/gross monthly income multiplied by 100) is a key factor lenders will consider for approval, so it’s wise to get a handle on it now before you begin the process.
STEP 3: PAY OFF YOUR DEBT
Your budget is now in place. Here comes the hard part – sticking to it. Holding yourself accountable to your budget can seem daunting, but nowadays, it’s incredibly easy to manage and make your payments. Online banking gives us the ability to automate everything and ensure we never miss a beat. Once you know your budget and have a better understanding of your monthly contributions, you can easily set up your payments in advance – giving you one less thing to worry about.
It’s important to remember that volatility in markets is temporary, and what we’re experiencing right now won’t last forever.
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com
ABRAMSJESSE
44 HOMES Magazine | Aug. 27–Sept. 24, 2022
Interest rates recently increased a full percentage point – the biggest hike we’ve seen from the Bank of Canada since 1998. With rising inflation and spikes in the cost of living, many potential homebuyers are wondering when the right time is to purchase a home. In light of market conditions, it’s probably a good idea to take a more stringent approach to spending in general right now. For those looking to buy sooner than later, the first thing you’ll want to do is create a detailed budget. With many anticipated changes expected to come, this is one sure way you can be prepared as a home buyer.
ADVICE | PERSONAL FINANCE
It’s important that your budget is realistic and sustainable to your current lifestyle. For example, if you have a demanding job and young kids, budget three nights of take-out per month, versus eight nights. Even the smallest changes can make a difference over time.
STEP 1: IDENTIFY ALL YOUR EXPENSES AND LIABILITIES
A HOME PURCHASE? WITH RISING RATES AND COSTS, HOW CAN YOU BUDGET FOR
STEP 4: AUTOMATE YOUR PAYMENTS
Unemploymentforward.rates are currently at historic lows, and despite media headlines to the contrary, the majority of households are not in a position where they need to sell their home. If would-be sellers decide to take a wait-and-see approach over the next few months, it is possible that active listings could trend lower. This could cause market conditions to begin to tighten again, providing further support for home prices. One thing is certain – our region continues to grow because we attract people and businesses from all around the world. Every one of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long term.
Discover our monthly Market Watch report. We break down prices, sales and new listings across the Greater Toronto Area. You can also connect with a TRREB member realtor and search listings in real time on any device.
Looking at the months ahead, current market conditions will likely remain, as buyers re-evaluate affordability and adjust to rising mortgage rates. Despite higher borrowing costs, as with other market cycles, we will see some buyers re-enter the market as conditions stabilize. New listings of homes and condos are an important indicator to watch and are key to understanding how tight market conditions are now and will be in the future. Fundamental supply shortages remain, and increasing immigration, coupled with buyers adjusting to higher borrowing costs, will illustrate this going
BREAKING DOWN THE HOUSING MARKET IN JUNE
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Kevin Crigger, TRREB President and realtor, is a long-standing and active member at the Toronto Regional Real Estate Board. He has served all levels of the real estate industry, as well as local charities and educational institutions.
AND BEYOND A LOOK AT THE SUMMER HOUSING MARKET +mOrE CONTENT ONLiNE nexthome.ca ADVICE | REAL INSIGHT CriggKEviNEr
In June 2022, home sales were down compared to last year’s strong result. Prices were also down on a monthly basis. The number of home sales in June was down by 41 per cent over the high in 2021. Unprecedented quick increases in borrowing costs are presenting affordability challenges to prospective homebuyers and pushing some to reconsider when to purchase a home. For buyers who can afford higher borrowing costs, some have put their decision on hold to see how pricesHomerespond.salesin June were down when compared to May 2022, which is often the case due to the seasonal nature of the market. Demand normally slows as we approach the summer months, especially with travelWhileresuming.thenumber of sales was down from last year, new listings changed little over the same period. This has provided for more balance in the market. When it comes to the cost of a home, the average selling price was $1.14 million, which despite prices trending down on a monthly basis, is up when compared to June 2021. Townhomes and condos have presented the strongest price growth year-over-year.Asalways,stay up to date on the real estate market by visiting trreb.ca.
COSICDEBBIE
Not to sound like the parents who walked five miles uphill in snow to get to school as kids, but ask them about the 1980s and 1990s in Canada, when mortgage rates skyrocketed into the double digits. They did what they had to do to cope, including giving up unnecessary luxuries. The moral of the story is to avoid overextending your financial reach when purchasing a home. Your financial advisor should help you determine what you can comfortably afford, allowing for the unexpected, such as interest rate rises.
46 HOMES Magazine | Aug. 27–Sept. 24, 2022
PUTTING
+MORE CONTENT ONLINE nexthome.ca
ADVICE | HOME REALTY
Verde Living in Kitchener
INTERESTRISINGRATES INTO PERSPECTIVE
After a few years of historically low mortgage interest rates, Canadian homebuyers are now dealing with the results of recent Bank of Canada rate hikes, which are necessary to help fightAlthoughinflation.these increases affect your homebuying power, it may not be as much as you think. For example, according to statistics from the Government of Canada, if you take out a mortgage of $400,000 with a 25-year amortization, at four per cent interest rate, your monthly payment amount would be approximately $2,104; at five per cent, about $2,326. That’s about $222 more, or a minimal amount of discretionary income for many Canadians. Unless you make yourself what we refer to as “house poor,” this should be manageable. Keep in mind that your lender uses several parameters to determine your mortgage rate, such as their current prime and posted interest rate, amortization and length of the term you choose, the kind of interest you select (fixed or variable), your credit history and current debt situation, employment status and whether you qualify for a discounted rate, among others. When you do your research to determine what you can afford, planning on interest rate rises in the future should be a consideration. Our conservative Canadian banking practices help to protect people from becoming overextended and creating the kind of scenario we saw in the U.S. a few years ago. Putting things into perspective, about five years ago, five-year fixedrate mortgages were on average 4.64 per cent. In fact, over the last 25 years, the average for that type of mortgage is 5.65 per cent. On June 1, the Bank of Canada raised its overnight target to 1.5 per cent, and before the pandemic, it was 1.75 perLookingcent. worldwide, Trading Economics (tradingeconomics. com), which gathers information on 196 countries through official sources, reported on June 17 that the mortgage rate in Australia was 4.72 per cent; in the UK, 4.25; and in the U.S.Another5.65. way of looking at things is to consider those who purchased during the lockdown because of COVID, when their rate was likely below 2.5 per cent. Yes, when they go to renew after five years, their rate will be higher, but so will their property value. In addition, they will have been paying on their mortgage for years. Remember that for preconstruction homes and condos, owners often earn equity before they even take possession.
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
And how about location, location, location? It’s not only Toronto and the GTA where there are excellent opportunities. We sell a lot of preconstruction in the Niagara Region, for example, and nearly all those buyers are from the GTA. Location is critical, and I advise investor clients to go where the GO is going. Niagara has a GO train, which makes it a popular destination. Hot properties are always situated on or around transit lines. If you’re an investor who intends to rent out your property, transportation and convenience should always be top of mind when selecting a spot. In fact, that goes for anyone purchasing a pre-construction property. Remember that even for end-users, your home or condo is both a lifestyle and financial investment. When some things in this industry go down, others go up. Whether you are a first-time or seasoned investor, look at the big picture and do your homework. Now is your time to shine. OF FROM HOMEOWNER TO INVESTOR? HERE’S WHAT YOU
+MORE CONTENT ONLINE nexthome.ca
KLASSENMICHAEL
Investors know that interest rates are still relatively low. With major bank variable rate mortgages near four per cent, and five-year fixed products at closer to five per cent, the actual monthly blended payments are still at a reasonable range. As an offset, softening prices will help keep overall loan costs still within check for most buyers. Furthermore, as inflation tames, rates will likely come down. So, forget what the rates were months ago, that’s yesterday’s news. We all know those couldn’t last forever. If you look at the big picture, the costs for land, development and construction all continue to rise. Thus, prices for preconstruction condominiums have only one way to go, and that’s up. This has been the state of southern Ontario’s market for years, and I am banking on nothing changing going forward. How many times have I heard people say, “I wish I bought then, when the prices were so low per square foot.” This is why I say that the best time to buy preconstruction is now. Plus, we all know that you get the benefit of today’s prices while only having a relatively low deposit, securing your purchase for what will be delivered years out.
Michael Klassen is the Broker of Record, Eleven Eleven Real Estate Services. Based in Toronto, this firm is a residential preconstruction listing brokerage. 1111realty.ca
NEED TO KNOW THINKING
ADVICE | REALTY INSIDER
TRANSITIONING
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The real estate market in Toronto and the Greater Toronto Area has been remarkable over the past few years, especially for investors. Historically, real estate has proven to be a lucrative investment for both investors and homeowners, provided that the purchaser is willing to ride out the ups and downs in this cyclical industry. As rising interest rates have affected end-user sales, the current situation is encouraging for investors, because the rental market is on fire. Average rents across the GTA have gone up nearly 20 per cent over the past year – numbers that positively impact investors’ returns.
HOMESREGIONNORTHMAGAZINE FEATURING PROFILES OF NORTH REGION ONTARIO BUILDERS AND COMMUNITIES PICTURES ARE COURTESY OF DEMOCRAT HOMES. FOR MORE INFORMATION SEE PAGE 49. Alliston • Barrie • Collingwood • Innisfil • Orillia Meaford • Shanty Bay • Thornbury • Wasaga Beach 48 HOMES Magazine | Aug. 27–Sept. 24, 2022
democr athomes.com ONE-OF-A-KIND OPPORTUNITY IN HORSESHOE! A stunning 2600sf 3-bedroom walkout Bungalow on a 1/2 Acre+ wooded lot. UPGRADED features include brick and stone facade, 2 car garage, hardwood engineered flooring, cathedral and vaulted ceilings, wainscoting, high-end kitchen & insulated steel garage doors. Much More! Quick Move-in...for more information email Democrat Homes today E M A I L TO DAY: m a r k @ d e m o c r a th o m e s . c o m MODEL HOME FOR SALE
SOUTHWESTERNONTARIOHOMES MAGAZINE FEATURING PROFILES OF SOUTHWESTERN ONTARIO BUILDERS AND COMMUNITIES PICTURES ARE COURTESY OF DUNPAR HOMES. FOR MORE INFORMATION SEE PAGE 51. Brantford • Burlington • Cambridge • Georgetown • Guelph Halton Hills • Hamilton • Kitchener-Waterloo • Milton Niagara • Oakville • Stoney Creek • And Surrounding Areas 50 HOMES Magazine | Aug. 27–Sept. 24, 2022
Luxury Resides in the West End. Discover an exclusive enclave of 96 backto-back, spacious, open-concept luxury townhomes that merge and mingle with the vibrant downtown Lambton neighbourhood. Connected, considered, and conveniently located close to a plethora of amenities and urban adventure. 3-bedroom townhome living with 1 parking spot. NOW OPEN Register at dunparhomes.com * Please ask sales representative for details. Prices, terms & specifications are subject to change without notice. E.&.O.E. SCARLETTRD. ST. CLAIR AVE. W. DUNDAS ST. W.
DESIGN FOR ENERGY EFFICIENCY
by LISA ROGERS big style
INSPIRATION |
SUSTAINABLE INTERIOR DESIGN 52 HOMES Magazine | Aug. 27–Sept. 24, 2022
Energy consumption is a significant contributor to climate change. There is plenty we can do in our own homes to improve energy efficiency by looking at the amount of energy we need for heating, lighting and running our appliances. Since most heat escapes through windows, your installed windows must be high quality and provide good insulation. Window coverings also keep both cold air and the sun’s heat outside. Installing home automation (often called “Green gadgets”) makes it possible to control heat and lighting systems remotely. This will help you use your home’s energy more efficiently and economically. Think about intelligent bulbs, the Nest Learning Thermostat, or Green apps that you can download on your phone and to help monitor your energy use.
PRINCIPLES OF Doing our part to help the environment is more critical than ever, so how can we reduce, reuse and recycle our way to more sustainable interior design? It’s easier than you think. In principle, sustainable design aims to reduce negative environmental impact through thoughtful design. This means buying more energyefficient products, reducing waste and using limited resources throughout their life cycle. It’s considered one of the fastest-growing segments in the design industry – often referred to as “Green” interior design – and it encourages more of us to create a sustainable space that helps save our environment. It can sound overwhelming when we think about saving the planet with our actions, but there are things we can do to achieve (better) sustainable interior design.
To save on energy spent on lighting, plenty can be done in picking the right colours. Lighter colours reflect more light, while darker walls (and furnishings) absorb light and require more artificial lighting to brighten up the space. Also, here’s a trick: Reflective surfaces, such as glass, increase the amount of light in a room by bouncing around, so opt for glass tables or extra mirrors in your room to capture all of that glorious natural light. Also, most paints contain toxic fumes and chemicals, so try and opt for paint brands that offer less abrasive products that don’t harm the environment.
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PAINT WITH THE RIGHT COLOURS
INVEST IN VINTAGE FURNITURE
I know buying a brand-new piece can be exciting, but so can sourcing and hunting for that vintage piece full of legacy and sentimentality. Browse online marketplaces or go the old-fashioned route and head to some estate sales or vintage markets. I guarantee you will stumble upon some unique finds that will give your home a new look.
I love natural textiles in interiors, and they’re continuing to be a major theme in this season’s design ethos. Eco-friendly and naturally-sourced fabrics are all the rage and can be recycled as can vintage woods, banana fibre, Afghan wools, hemp, seagrass, burlap, raw cotton or linen. Not only can they come in a variety of different textures, they are also capable of being ethically sourced. Beyond materials for furniture or furnishings, organic materials can also be used in mattresses, upholstery or pillows. This can reduce the production of synthetic materials that sadly end up in our landfills.
It is aesthetically so pleasing to have a home filled with greenery and plants, and plants also work double-duty in that they give oxygen and eliminate harmful substances from the air. They also provide a natural look and freshness in your home. NASA’s Clean Air Study found a number of air-purifying plants that can detoxify your home from the airborne toxins, dust, and germs found in a variety of household products, materials and furniture. However, to make that much of a difference to the air quality inside your home, you would need a significant number of house plants (about 90) to work together to clean the air. But, with houseplants becoming an interior design trend that looks like it’s here to stay, we might as well choose one that will improve the air we breathe, even if it’s not all of Englishit.ivy, snake and spider plants, and chrysanthemums help filter out toxins, including ammonia and benzene found in varnishes, floor finishes, and detergents.
I love vintage furniture, and when we are making more efforts to be more mindful of the planet, we should really be aware of the furniture and decor pieces we choose. When we repurpose an old-found treasure, we immediately reduce waste, overproduction, and our footprint –all good things.
OPT FOR NATURAL TEXTILES
BUY LOTS OF INDOOR PLANTS
Lisa Rogers is Executive Vice-President of Design for Dunpar Homes (dunparhomes.com). Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and as a regular guest expert for fashion and image, health and wellness and design on CityTV’s Cityline. Follow Lisa’s blog at craftedbylisa.ca
HOT PROPERTIES 1. Ajax A Towns Bayly St. E. & Salem Rd. S. fieldgatehomes.com 2. Ajax A Towns Bayly St. E. & Salem Rd. S. paradisedevelopments.com 3. Aurora Queen’s Grove Collection Yonge St. & Bloomington Rd. northstarhomes.com 4. Aurora Allegro Downtown Aurora 36 Klees Crescent geranium.com 5. Aurora Woodhaven 14222 Yonge St. brookfieldresidential.com 6. Aurora Shining Hill Yonge St. & St. John’s Siderd. regalcresthomes.com 7. Aurora Aurora Townhomes George St. & Wellington St. andrinhomes.com 8. Aurora Paradise Aurora Mavrinac Blvd. & Wellington St. paradisedevelopments.com 9. Brampton DUO Condos 245 Steeles Ave. W.. duocondos.ca 10. Brampton Spring Valley Estates 1364 Queen St. springvalleyestates.ca 11. Brampton Mayfield Village Bramalea Rd. & Mayfield Rd. royalpinehomes.com 12. Brampton The Sandalwood 120 Sandalwood Parkway East royalcliffhomes.com 13. Brampton Three Rivers Claireville Goreway Dr. & Humberwest Pkwy nationalhomes.com 14. Brampton Queens Lane Townhomes Mississauga Rd. & Queen St. branthavenbrampton.com 15. Brampton Cleave View Estate By The Credit Queen St. & Mississauga Rd. regalcresthomes.com 16. Brampton Westfield Mississauga Rd. & Steeles Ave. greatgulf.com 17. Brampton The Estates of West River Valley McVean Dr. & Countryside Dr. royalpinehomes.com 18. Brampton Mount Pleasant North & UNION Mount Pleasant Remembrance Rd. & Edenbrook Hill Dr. mattamyhomes.com 19. Brampton High Point Mississauga Rd. & Mayfield Rd. paradisedevelopments.com 20. Brampton Beechwood Chinguacousy Rd. & Mayfield Rd. paradisedevelopments.com 21. Caledon Ellis Lane Mayfield Rd. & Chinguacousy Rd. mattamyhomes.com 22. Caledon Palgrave Estates Mount Pleasant Rd. & Hunsden Rd. flatogroup.com 23. Caledon Pathways Caledon East Old Church Rd. & Innis Lake Rd. flatogroup.com 24. Etobicoke Vita On The Lake 2 2167 Lake Shore Blvd. W. mattamyhomes.com 25. Etobicoke Lake Shore Village 68 Daisy Ave. dunparhomes.com 26. Etobicoke Lake & Town Islington Ave. & Lake Shore Blvd menkes.com 27. Etobicoke Boutique Towns 80 Thirtieth St. dunparhomes.com 28. Etobicoke 2650 St. Clair Ave W. 2650 St. Clair Ave W dunparhomes.com 29. Kleinburg New Impressions Hwy. 27 & Major McKenzie Dr. W. fieldgatehomes.com 30. Kleinburg The Enclave on Nashville 99 Nashville Rd. stateviewhomes.com 31. Kleinburg The Tesoro Collection 410 Chrislea Rd. stateviewhomes.com 32. Markham and Unionville Cornell Markham Bur Oak Ave. & Hwy 7 ballantryhomes.com 33. Marham and Unionville Union Glen Kennedy Rd. & Major McKenzie fieldgatehomes.com 34. Markham and Unionville Riverwalk Meadows Ninth Line & 14th Ave. flatogroup.com 35. Markham and Unionville Angus Glen South Village 9980 Kennedy Rd., #200. kylemorecommunities.com 36. Markham and Unionville Kennedy Manors 4500 Major Mackenzie Dr East. kylemorecommunities.com 37. Markham and Unionville Nao Phase 2 14th Ave. & McCowan Rd. stateviewhomes.com 38. Markham and Unionville On The Mark Phase 2 16th Ave. & Woodbine Ave. stateviewhomes.com 39. Markham and Unionville Minu Towns Donald Cousens Pkwy. & Ninth Line stateviewhomes.com The latest properties in the Greater Toronto Area to keep your eye on FIND YOUR NEXT HOME MAP LOCATION SITE ADDRESS CONTACT 54 HOMES Magazine | Aug. 27–Sept. 24, 2022
Locate properties using the map on the following page MAPSBUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA + MAP LOCATION SITE ADDRESS CONTACT 40. Newmarket Elia Leslie & Gorham St. stateviewhomes.com 41. North York Kenneth & Holmes Kenneth & Holmes fieldgatehomes.ca 42. Oshawa Dreamscape Conlin Rd. & Harmony Rd. fieldgatehomes.com 43. Oshawa Park Ridge Conlin & Townline Rds. tributecommunities.com 44. Pickering Geranium in Pickering Altona Rd. & Twyn Rivers Dr. geranium.com 45. Pickering Nutowns Brock Rd. & Whitevale Rd. madisongroup.ca 46. Pickering Edgewood Pickering Altona Rd. & Finch Ave. geranium.com 47. Pickering Seaton 1075 Taunton Rd. fieldgatehomes.com 48. Pickering Frenchman’s Bay Liverpool Rd. & Bayly St. madisonfb.com 49. Richmond Hill The Bond Yonge & King stateviewhomes.com 50. Richmond Hill King’s Landing Oak Ridges stateviewhomes.com 51. Richmond Hill Ivylea Leslie St. & 19th Ave. marlinspring.com 52. Richmond Hill Richlands Leslie St. & Elgin Mills Rd. fieldgatehomes.com 53. Richmond Hill Millbrook Park Elgin Mills & Leslie St. northstarhomesinc.com 54. Richmond Hill Park Lane Place Elgin Mills & Leslie St. northstarhomesinc.com 55. Richmond Hill Observatory Hill Bayview Ave. & 16th Ave. myobservatoryhill.ca 56. Richmond Hill Richlands 10961 Leslie St. opushomes.com 57. Richmond Hill Emerald Crossing 8854 Yonge Street fieldgatehomes.com 58. Richmond Hill King East Estates King Rd. & Toscanini Rd. pureplaza.com 59. Scarborough 670 Progress Ave. Progress Ave. & Grangeway Ave. fieldgatehomes.com 60. Scarborough Valleyview Garden 3012 Kennedy Rd. valleyviewgardens.ca 61. Scarborough Upper Summerside 743 Warden Ave. mattamyhomes.com 62. Stouffville Cityside 12466 Ninth Line fieldgatehomes.com 63. Toronto Lambtown Towns 2650 St. Clair West dunparhomes.com 64. Thornhill Citylux Towns at Thornhill Woods Dufferin St. & Rutherford Rd. fieldgatehomes.com 65. Vaughan Hotel Vie 8440 Hwy. 27 hotelvie.com 66. Vaughan The Manors Teston Rd. & Pine Valley Dr. goldparkhomes.com 67. Whitby Queen’s Common 1075 Taunton Rd.. mattamyhomes.com 68. Whitby Country Lane Taunton Rd. & Country Lane countrylanewhitby.com 69. Whitby Whitby Meadows Cochrane St. & Taunton Rd. opushomes.com 70. Whitby The Boatworks Towns in Whitby Brock St. S. & Victoria St. W. andrinhomes.com 71. Whitby Park Vista/Whitby Meadows Cochrane St. & Taunton Rd fieldgatehomes.com 72. Whitby The Landing in Whitby Harbour Brock St. South & Victoria St. carttera.com 73. Whitechurch/Stouffville Blue Sky 9th Line & Millard St. fieldgatehomes.com 74. Whitechurch/Stouffville Cityside Stouffville Tenth line & 19th Ave. fieldgatehomes.com 75. Woodbridge Pine Valley Pine Valley Dr. & Major Mackenzie Dr. marlinspring.com 76. Woodbridge The Enclave 410 Chrislea Rd. stateviewhomes.com nexthome.ca 55
HOT PROPERTIES | GREATER TORONTO AREA 3 4 657 8 9 10 11 12 13 1514 16 17 18 19 20 25 25 26 23 24 27 28 63 29 31 30 37 45 49 51 52 53 54 55 64 58 50 56 57 7566 65 40 56 HOMES Magazine | Aug. 27–Sept. 24, 2022
MARKETMAPS.COMCARTOGRAPHY: 1 60 6159 33 35 3836 32 34 39 41 67 68 69 70 71 42 43 44 45 45 47 48 7473 72 Match the map numbers with property listings on the previous Hot Properties page MAPS 2 62 nexthome.ca 57
HOT PROPERTIES | OUT OF TOWN EAST 1. Courtice The Vale Prestonvale Rd. & Bloor St. nationalhomes.com 2. East Region Newbrook North St. & Concession Rd. brookfieldhomes.ca 3. East Region Haven on the Trent Forest Hill Rd. & Riverside Trail sifton.com 4. Newcastle Belmont West Coast treasurehill.com 5. Peterborough Parklands & The Condo Arbour Villas 1224 Chemong Rd. masonhomes.ca 6. Port Hope/Cobourg Port Hope Lakeside Village 415 Lakeshore Rd. masonhomes.ca 7. Port Hope/Cobourg Kingswood Cobourg 425 King St. E. masonhomes.ca 8. Port Perry Courts of Canterbury Simcoe St. & Country Estates Dr. geranium.com The latest properties in the Out of Town East Area to keep your eye on FIND YOUR NEXT HOME MAP LOCATION SITE ADDRESS CONTACT MARKETMAPS.COMCARTOGRAPHY: g o N y W y h W d b H R G D M R Wh B D D D R W d g G h M MQuayBlvd SmoSS OnaS St vensonRdN LakeDrwy W PGbbonSSomeveShillipMurrayAve Wilmot TAth lSt E QueenSt RdS RogeS DavdS WaisD QueenSt ManSt HarwoodAveN Maners/scugogTownneRd NMonaghanPky VeulamRdN S ugogL e2 C a esRdW Chandle D BickRd Mas woodRd Pal stineRd Va eyRd RamseyRd RamseyRd KneyBayRd RveRd Ba yduffRd HwathaLn LndsayStS ScugogS AngelneStS ConcessionStE King St E ConcessionRoad8 VeruamRdS WoodvilleRd ConlinRdE ThunderBridgeRd Edgerton Rd HgunSarbourRdHoltRd BethesdaRd Marsh Rd HamltonRd 7thLine k ColumbusRdW Howden RdE CottageRd Solanum Way MtPleasantRd OakHill Rd BethelGroveRd PaudashSt StewartLine LarmerLineEnnisRd TaraRd TaraRd BaseLine CavanRdHoltRdFleetwood Rd LiffordRdTelecomRd PeaceRd MeadowviewRd 8thLine 7thLine Sherbrooke St LansdowneStW ParkhillRdW ParkStN Olive Ave AdelaideAve E RitsonRdS ArmourRd Chemon nAdersonSt WilsonRdNGardenSt on Rd GarrardRd ConcessionRoad 6 Peterborough Byps CountryLn Dundas St EneRavscroftRd BrockStS bSt YoungsPointRd HilliardSt AngelineStN BadwinStNBrockStN ConcessionRoad 7 MainSt Concession Road 4 SaemRd ColborneSt W Baseline Rd TrullsRd OldScugogRd h TownlineRdN WaveryRd RobinsonRd FfesBayRd AshburnhamDr TransCanada Hwy Victoria St W CourticeRd FrankHillRd BensfortRd KingSt Concession Road 10 JohnSt ilStS Concession Road 1 MatchettLine TelevisionRdLongBeachRdGolfCourse Rd leCentrneRd 6thLineOntarioSt KingSt McGillDr ConcessionRoad WardSt LakeieldRd ncession 4 brock CraggRdMyrtleRdW MapleGroveRd JanetvilleRd CedarGlenRd EmilyParkRdTapleyQuarterLine dEenberryLine Concession Road 5 VimyRidgeRd Old TNorwoodRdelephoneRdoncession 3 brock TownLine RdBrawleyRdW MacDonald cartier Fwy Trans CanadaHwy Trans Canada Hwy SimcoeSt SimcoeS SimcoeSt SimcoeSt SeocmiStN GanaraskaRd King St E RtsonRdN Taunton Rd LakeridgeRd geRd ThorntonRdN LibertyStN Pigeon LakeRd Elm Tree Rd ElmTreeRd DaleRd DaleRd Lakeshore Rd EldonRd EldonRd Little Britain Rd HeightsRd HeightsRd OldSimcoeRd HarmonyRdN OldScugogRd OakRidgesDr Nash Rd YankeeLine hnrBuamSN WallacePointRd CambrayRd SturgeonRdGlenarmRdSalemRd AshburnRd 5th Line dRdnals BloorSt SkiHillRd PorterRd 4thLine BuckhornRd WhiteRockRd BoundaryRd Mt Horeb Rd 7thLine DrummondLine LornevilleRd SewynRd Peniel Rd OpmarRd PostRd DivisionKRdeeneRd 401 115 35 35 7 7 7 7 7A 7A 12 2 2 2 35 36 28 28 46 7 7 7 DunsfordPontypoolNewcastleSunderland Nestleton Station Ennismore Courtice Blackstock Bethany Hiawatha First Nation 36 Seagrave Janetville Bailieboro Cannington Mississauga's Of Scugog Island Douro-DummerLakefield Ashburn Newtonville Lindsay Omemee Cavan-Millbrook-NorthFraserville Monaghan Brooklin Kendal Douro BridgenorthCurveLake Curve Lake First Nation 35 CavanCaesareaCameron Gores Landing Woodville Millbrook Port Perry Sturgeon Point Cambray Hampton Campbellcroft Manilla Reaboro Youngs Point Bewdley Bowmanville Greenwood Haydon Orono OakwoodLittleBritain Greenbank Hamilton TwpSmith-Ennismore-LakefieldPortHopeBrockScugog Peterborough Ajax OshawaKawarthaClaringtonLakesWhitby d 1 2 6 4 ngR 5 3 W 7 i8 Start your search Your trusted authority for the latest new home and condo developments. Visit nexthome.ca to get started. 58 HOMES Magazine | Aug. 27–Sept. 24, 2022
HOT PROPERTIES | OUT OF TOWN NORTH 1. Barrie Hampton Heights Essa Rd. & Ardagh Rd. stateviewhomes.com 2. Barrie FOUR10 Yonge 410 Yonge Street masonhomes.ca 3. Horseshoe Valley Forest Heights Estates 2 Diamond Valley Dr., Oro Medonte democrathomes.com 4. Horseshoe Valley One Twenty Fonthill Condominium Residences North Pelham atHwy. 20 mountainview.com 5. Muskoka Highcrest in Muskoka 46 Hanes Rd. edgewoodmuskoka.com 6. North Region Craighurst Horseshoe Valley Rd. & Hwy. 93 georgianinternational.com 7. North Region Mountain House at Windfall Mountain Rd. & Crosswinds Blvd, Collingwood georgianinternational.com 8. North Region Emerald Crossing Hwy. 89 & Hurontario St., Shelburne fieldgatehomes.com 9. North Region Braestone Horseshoe Valley 3246 Line 9 North, Oro Medonte georgianinternational.com 10. North Region GreenRidge & Beeton Village 41 Main St. W., Beeton flatogroup.com 11. North Region Midhurst Heights Russel Rd. & Craig Rd. geranium.com 12. North Region Edgewood Greens Hwy. 10 & Main St. East, Dundalk flatogroup.com 13. North Region Edgewood Suites 270 Hagan St. E., Dundalk edgewoodsuites.ca 14. North Region Collingwood Maple & Sixth Street georgianinternational.ca 15. North Region Shelter Cove 15 Cricklewood Cres., Nanticoke sheltercove.ca 16. Orillia Professor’s Walk Diana Dr. & University Ave. democrathomes.com 17. Owen Sound Greystone Village 1800 2nd Ave. E. flatogroup.com The latest properties in the Out of Town North Area to keep your eye on FIND YOUR NEXT HOME MAP LOCATION SITE ADDRESS CONTACT MARKETMAPS.COMCARTOGRAPHY: Get the inside scoop Subscribe to our newsletter Visit https://nexthome.ca/newsletter 1 8 3 5 4 611 9 10 16 12 13 7 14 2 17 nexthome.ca 59
HOT PROPERTIES 1. Burlington/Waterdown The Towns at Valera 4858 Thomas Alton Blvd. adidevelopments.com 2. Burlington/Waterdown Nautique Lakefront Residences 375 Brant St. adidevelopments.com 3. Burlington/Waterdown National Homes in Burlington, 484-490 Plains Rd. E. nationalhomes.com 4. Burlington/Waterdown Affinity Condominiums Plains Rd. E. & Filmandale Rd. rosehavenhomes.com 5. Burlington/Waterdown Millcroft Towns Appleby Line & Taywood Dr. branthavenmillcroft.com 6. Grimsby Century Condos Main St. East & Baker Rd. South desantishomes.com 7. Hamilton-Wentworth Losani Homes at Barton & Glover Barton St. & Glover Rd. losanihomes.com 8. Hamilton-Wentworth Central Park: Midtown & Soho Upper Red Hill Valley Pkwy & Rymal Rd. MyCentralPark.ca 9. Hamilton-Wentworth Tiffany Hill Phase 3 288 Raymond Rd. rosehaven.com 10. Hamilton-Wentworth Monterey Heights Shaver Rd. & Garner Rd. W. dicenzohomes.ca 11. Hamilton-Wentworth Stonegate Park Upper Wellington St. & Stone Church Rd. E. dicenzohomes.ca 12. Kitchener/Waterloo Wallaceton Huron Rd. & Fischer-Hallman heathwood.com 13. Kitchener/Waterloo River Ridge 90 Deer Creek St. activa.ca 14. Kitchener/Waterloo Vista Hills 259 Sweet Gale St. activa.ca 15. Kitchener/Waterloo Avenue M 40 Margaret Ave. avenuemkw.ca 16. Kitchener/Waterloo Young Condos at City Centre King West & Young St. andrinhomes.com 17. Kitchener/Waterloo Trailside at Grey Silo Gate 243 Grey Silo Rd. activa.ca 18. Kitchener/Waterloo Riverwood 90 Deer Creek St. activa.ca 19. Kitchener/Waterloo Doon South & Ormston at Doon South 653 Thomas Slee Dr. activa.ca 20. London RiverBend Golf Community 2200 Jack Nash Dr. sifton.com 21. London Victoria Flats Commissioners Rd. E. & Hamilton Rd. sifton.com 22. London Victoria On The River Sheffield Blvd. & Commissioners Rd. E. sifton.com 23. London Caverhill Clarke Rd. & Kilallay Rd. sifton.com 24. London Hudson Park Colonel Talbot Rd. & Pack Rd. sifton.com 25. London Liberty Crossing Wonderland Rd. S. & Hamlyn St. sifton.com 26. London Middleton Wharncliffe Rd. & Exeter Rd. sifton.com 27. Milton The Valleylands Mayfield Rd. & Chinguacousy fieldgatehomes.com 28. Milton Milton Village Tremaine Rd. & Britannia Rd. greatgulf.com 29. Milton Soleil Louis St. Laurent Ave. & Bronte St. S. mattamyhomes.com 30. Mississauga 5150 Ninth Line 5150 Ninth Line mattamyhomes.com 31. Mississauga Whitehorn Woods 1240 Britannia Rd. W. nationalhomes.com 32. Mississauga Streetsville Centre Mill St. & Queen St. S. dunparhomes.com 33. Niagara Region Millennium Portage Rd., Niagara Falls mountainview.com 34. Niagara Region Lusso Urban Towns Martindale Rd. & Grapeview Dr, St. Catharines. lucchettahomes.com 35. Niagara Region Lyon’s Creek 4382 Mann St mountainview.com 36. Niagara Region Portview Estates Simcoe St. & Canal St. silvergatehomes.com 37. Niagara Region Vista Ridge & Vibrant at Vista Ridge 4008 Mountain St. losanihomes.com 38. Niagara Region Davis Heights 1535 Haist St, Pelham. lucchettahomes.com 39. Niagara Region Grimsby Waterfront 398 N Service Rd. losanihomes.com 40. Niagara Region Saffron Estates Port Robinson Rd. & Rice Rd., Fonthill mountainview.com 41. Niagara Region Lincoln Estates Lincoln Ave. & King St. losanihomes.com 42. Niagara Region The Residences at Hunters Pointe 71 Kyntre Trail lucchettahomes.com 43. Niagara Region Edgewater Trails Daimler Pkwy & Magnolia Ln, Welland. ballantryhomes.com 44. Niagara Region One Twenty Condos Canboro Rd. & Rice Rd., Fonthill mountainview.com The latest properties in the Southwestern Ontario Area to keep your eye on FIND YOUR NEXT HOME MAP LOCATION SITE ADDRESS CONTACT 60 HOMES Magazine | Aug. 27–Sept. 24, 2022
Locate properties using the map on the following page MAPSBUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA + MAP LOCATION SITE ADDRESS CONTACT 45. Niagara Region Village on the Twelve 21 Willow Bank Common St. silvergatehomes.com 46. Niagara Region River Estates Lametti Dr., Pelham. mountainview.com 47. Niagara Region Timberwood Estates Merritt Rd. & Grisdale Rd., Thorold mountainview.com 48. Niagara Region Ryan’s Grove 13 Tanner Dr. lucchettahomes.com 49. Niagara Region Legends On The Green Niagara Pkwy & Legends Way silvegatehomes.com 50. Niagara Region West Community 44 Elderberry Rd., Thorold. mountainview.com 51. Niagara Region Harbourtown Estates Fort Erie silvergatehomes.com 52. Oakville The Greenwich at Oakvillage Trafalgar Rd. & Dundas St. East branthaven.com 53. Oakville Oakville Ravine Townhomes Sixth Line & Germorda Dr. dunparhomes.com 54. Oakville Bronte Meadows Bridge Rd & Warminster Dr. flatogroup.com 55. Oakville Randall Residences Trafalgar Rd. & Randall St. rosehavenhomes.com 56. Oakville Upper West Side Condos 2 351 Dundas St. East branthaven.com 57. Oakville Trafalgar Ridge River Oaks Blvd. & Namron Gate dunparhomes.com 58. Oakville The Preserve & East Preserve Dundas St. W. & Proudfoot Trail mattamyhomes.com 59. Oakville The Preserve Woodland Estates Dundas St. W. & Proudfoot Trail mattamyhomes.com 60. Oakville 5North The Preserve, Dundas St. W. & Proudfoot Trail mattamyhomes.com 61. Oakville The Villages of Oak Park Trafalgar Rd. & Dundas st. E. ballantryhomes.com 62. Oakville West & Post 2714 Westoak Trails Blvd. branthavenoakville.com 63. Oakville Upper Joshua Creek 9th Line & Dundas St. mattamyhomes.com 64. Oakville La Réserve 153 Reynolds St. rosehavenhomes.com 65. Welland Sparrow Meadows 335 Hillsdale Rd.. rosehavenhomes.com 66. West Region The McKenzie Towns 1535 McKenzie Rd. mountainview.com 67. West Region Sifton Homes Hyde Park Rd. & Ilderton Rd. sifton.com 68. West Region Boulder Creek Cleaver Rd. & King Edward St. sifton.com 69. West Region St. George Village Concession 2 & Woodhill Rd. losanihomes.com 70. West Region HarrisView 34 Hollingshead Rd. sifton.com 71. West Region Brant West 562 Shellard Ln brantwest.com 72. West Region Magnolia Trails Modeland Rd. & Michigan Lane sifton.com 73. West Region Rosewood Nissouri Rd. & Thorndale Rd. sifton.com 74. West Region Soleil St. Clair Corunna sifton.com 75. West Region Seasons & Watercolours at Simply Grand 1039 Rest Acres Rd. losanihomes.com 76. West Region Knightsbridge Graff Ave. & Mornington St. sifton.com 77. West Region Hazelwood on the Grand Hardy Rd. sifton.com 78. West Region Cottonwood Dingle St. sifton.com 79. West Region Hawthorne Park Oakwood Dr. & Byron Ave. sifton.com 80. West Region Reflections Caledonia 1437 McKenzie Rd ballantryhomes.com 81. West Region Lakeside Landing Wellington 411 Main St., Wellington royalcliffhomes.com nexthome.ca 61
HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA Hamilton Milton Guelph KitchenerWaterloo CambridgeBrantford KITCHENER–WATERLOO London LONDON 32 33343 8 8566 9 10 2122 23 69 80 78 73 25 24 11 14 12 15 19 67 7075 7771 68 16 17 4 1318 2672 15207674 27 62 HOMES Magazine | Aug. 27–Sept. 24, 2022
MARKETMAPS.COMCARTOGRAPHY: Niagara Falls Welland St Catharines Burlington OakvilleMississauga Match the map numbers with property listings on the previous Hot Properties page MAPS 2 30 54 5355 63 64 5857 64 31 32 7 6 34 35 36 33 37 38 39 40 41 4243 794544 46 47 48 49 65 566666 5265 50 81 51 nexthome.ca 63
www.blackanddecker.ca | @blackanddeckerca Enter WinSign-UpourtoContest!BLACK+DECKER™20VMAX*LITHIUMIONDRILL/DRIVER+68PIECEPROJECTKIT™BLACK+DECKER™PrizeValue:$149.99 • Go to renoanddecor.com/contests or scan the QR • Select this contest within the listing and click Enter to Win. For full contest details & rules visit the link above. OnlineEnter ADVERTISER INDEX — Find ads easily inside this edition Andrin Homes 16 Ballantry Homes 16 Black & Decker 64 Branthaven Homes 12, 13, 16 Brookfield Residential 17 Country Homes 17 D.O.T. Furniture 67 Democrat Homes 17, 49 Dunpar 16, 51 Fall Home Show 23 Fieldgate Homes 9, 16 Flato Developments Inc. 3, 16 Georgian International 4, 5, 17 Geranium Homes 17 Great Gulf 17 Heathwood Homes 16 Highway of Heroes 29 Hissence 43 Lifetime Developments 16 Lucchetta Homes 16 Madison Group 17 Mason Homes 17 Mattamy Homes 17 Menkes 16 National Homes 2, 16 North Star Homes 16 Paradise Developments 17 Ready. Set. Reno! 25 Regal Crest Homes 17 Rosehaven Homes 17 Royal Pine Homes 16 SanDiego Homes 16 Sifton 16 Silvergate Homes 17, 68 Stanley 43 Stateview Homes 17 Trees for Life 65 Tribute Communities 17 64 HOMES Magazine | Aug. 27–Sept. 24, 2022
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When it comes to accommodating projected growth in the GTA, the approach chosen by a region or municipality matters. Different approaches result in very different outcomes for future residents in terms of housing choice, mix, supply and ultimately housing affordability.
PROVIDING FUTURE RESIDENTS WITH HOUSING CHOICES
WDaVeIlkeS
Historically, suburban and rural regions of the GTA, such as Durham, built mostly low-density housing. Durham’s recent decision recommends that only 33 per cent of land under the Official Plan update be set aside for low-density housing – a significant reduction from historical levels. Some other GTA municipalities, including the regional municipalities of Peel and York, are adopting similar approaches as Durham.
Recent decisions by two regions in the GTA illustrate this point. Durham has taken a pragmatic approach that will likely lead to a mix of housing choices for future residents, while Halton’s approach runs counter to provincial guidance and may severely restrict housing choice in the region in the future. Any time there is an update to the province’s Growth Plan for the Greater Golden Horseshoe (GGH), regions and municipalities in the area must undertake a review to bring their official plans into conformity with the changes. This process is known as a municipal comprehensive review. Many regions and municipalities in the GTA are currently undertaking municipal comprehensive reviews, stemming from changes to the Growth Plan made in 2019. These changes require municipalities and regions to plan to accommodate growth for the millions of new residents expected in the GTA and GGH by 2051. In other words, plans are being drawn up now for development 10, 20 and 30 years in the future, and these plans dictate the amount and type of housing that will be available then.
66 HOMES Magazine | Aug. 27–Sept. 24, 2022
Durham’s approach also demonstrates that the Growth Plan –which encourages the development of compact communities that make efficient use of infrastructure and public services – is working.
IS +mORe CONTENT ONlINe nexthome.ca
The approach adopted by Durham regional council recognizes that depending on life stage, needs and preferences, some people may choose to live in a condominium, while others prefer a townhome, and yet others a single-family home.
Halton, by contrast, has adopted an approach that amounts to protecting existing residents’ housing choices, but not providing new residents with the same opportunities. This approach runs counter to provincial guidance and will result in less choice in the housing mix over the next 30 years. Prospective homeowners who cannot find what they are looking for will have to look elsewhere. Growth planning is a complex, difficult and often politically charged process. Most importantly, it is about planning to build communities for people. Providing for a mix of housing options ensures that future residents will find the home they want and need.
Durham is therefore planning for intensification, but also setting aside land for medium-density and singlefamily homes. This is an example of planning that puts people first, and provides for choice in housing.
GOOD PLANNING
ADVICE | INDUSTRY REPORT
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.
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