Toronto Housing Starts in February 2016

Newsroom > News Releases > 2016 > Toronto Housing Starts in February 2016  Toronto Housing Starts in February 2016 TORONTO, March 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 42,352 units in February 2016 compared to 45,296 in January 2016 according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “While housing starts in Toronto trended lower in February, low listings of single-detached homes in the resale market have resulted in some demand being carried over to the new home market as indicated by higher trending single-detached home starts, ” said Dana Senagama, CMHC Principal Market Analyst for the GTA. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next. The standalone monthly SAAR was 47,341 units in February, up from 26,120 units in January. The increase was the result of greater apartment starts. With 2,101 new apartment units breaking ground within the City of Toronto meant it recorded the highest number of starts within the GTA. Brampton recorded the next highest number of starts comprising mostly single-detached units. This was followed by Mississauga, where apartment construction was robust. Preliminary Housing Starts data is also available in English and French at the following link:Preliminary Housing Starts Tables As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry. For more information, or follow us on Twitter, YouTube, LinkedIn and Facebook. Information on this release: Media Contact: Angelina Ritacco 416-218-3320 Cell: 647-210-7420 aritacco@cmhc.ca Additional data is available upon request. Preliminary Housing Start Data February 2016 Toronto CMA1 January 2016 February 2016 Trend2 45,296 42,352 SAAR 26,120 47,341 February 2015 February 2016 Actual February — Single-detached 358 731 February — Multiples 1,299 2,671 February — Total 1,657 3,402 January to February — Single-detached 798 1,374 January to February — Multiples 3,833 3,871 January to February — Total 4,631 5,245 Source: CMHC 1 Census Metropolitan Area 2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels. Detailed data available upon request Preliminary Actual Housing Start Data by Type February 2015-2016 Toronto CMA Single Semi Row Apt Total 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 List of Sub- markets Pickering 10 14 2 -- -- -- -- -- 12 14 Ajax 5 -- -- -- 16 -- -- -- 21 -- Uxbridge -- -- -- -- -- -- -- -- -- -- Vaughan 44 22 -- -- -- -- -- -- 44 22 Markham 1 5 -- -- -- -- -- -- 1 5 Richmond Hill 9 4 -- 8 10 -- -- -- 19 12 Whitchurch-Stouffville 5 1 -- -- -- -- -- 154 5 155 Aurora 27 47 -- -- 27 -- -- -- 54 47 Newmarket -- 50 -- -- -- 6 -- -- -- 56 King Township 8 -- -- -- -- -- -- -- 8 -- East Gwillimbury 14 16 -- -- -- -- -- -- 14 16 Georgina Township 3 66 -- -- -- 12 -- -- 3 78 Toronto City 40 47 -- -- 48 21 1,014 2,101 1,102 2,169 Mississauga 3 6 6 -- -- -- -- 194 9 200 Brampton 103 258 34 -- 73 71 -- -- 210 329 Caledon 13 13 -- -- -- -- -- -- 13 13 Town of Mono -- -- -- -- -- -- -- -- -- -- Orangeville 9 3 -- -- -- -- -- -- 9 3 Oakville 3 65 -- -- -- 74 -- -- 3 139 Milton 9 14 2 -- 19 5 -- -- 30 19 Halton Hills 41 -- -- -- -- -- -- -- 41 -- New Tecumseth 5 74 -- 8 -- -- 48 -- 53 82 Bradford West Gwillimbury 6 26 -- 12 -- 5 -- -- 6 43 Total Toronto CMA Starts 358 731 44 28 193 194 1,062 2,449 1,657 3,402 Source: CMHC Preliminary Actual Housing Start Data by Type Year to Date / 2015-2016 Toronto CMA Single Semi Row Apt Total 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 List of Sub- markets Pickering 18 14 2 -- -- -- -- -- 20 14 Ajax 9 1 -- -- 23 -- -- -- 32 1 Uxbridge 2 1 -- -- -- -- -- -- 2 1 Vaughan 70 32 -- -- 35 -- 350 -- 455 32 Markham 10 21 -- -- -- -- -- -- 10 21 Richmond Hill 12 14 -- 8 29 6 -- -- 41 28 Whitchurch-Stouffville 11 2 -- -- -- 9 -- 154 11 165 Aurora 42 80 -- -- 27 -- -- -- 69 80 Newmarket -- 61 -- -- 23 6 -- 6 23 73 King Township 37 12 -- -- 4 -- -- -- 41 12 East Gwillimbury 36 18 -- -- -- -- -- -- 36 18 Georgina Township 10 106 -- -- 12 12 -- -- 22 118 Toronto City 84 114 -- 2 48 33 2,796 2,826 2,928 2,975 Mississauga 20 23 14 2 -- 14 -- 194 34 233 Brampton 180 393 62 20 73 165 138 -- 453 578 Caledon 48 36 -- 2 28 16 -- -- 76 54 Town of Mono -- -- -- -- -- -- -- -- -- -- Orangeville 15 9 -- -- 5 -- -- -- 20 9 Oakville 20 209 -- -- 11 105 15 -- 46 314 Milton 56 58 2 -- 25 24 -- 135 83 217 Halton Hills 82 6 -- -- -- -- -- -- 82 6 New Tecumseth 25 121 28 34 27 50 48 -- 128 205 Bradford West Gwillimbury 11 43 2 32 6 16 -- -- 19 91 Total Toronto CMA Starts 798 1,374 110 100 376 456 3,347 3,315 4,631 5,245 Source: CMHC http://www.cmhc-schl.gc.ca

10 Ways Home Buyers Self-Sabotage Their Chances At Home ownership

By Anita Clark  |  Read Bio

Via bigstockphoto

Let’s face it, you need a strong stomach, a large dose of hang-in-there-and-hold-on-tightly, as well as an ounce or two of patience stored away to make it through a real estate transaction these days. Even “easy” deals can and often do get hung up over minor details. With all the pitfalls ready to snare prospective buyers before they take the keys and begin moving into their love nest, the last thing these consumers need to do is get in their own way!

So, long before you take possession of that cute craftsman, jump for joy at the views from your new condo, or strip down and run around your new private acreage, you need to do everything in your power to avoid these 10 real estate loan killers.

1. Just Sign Here

Although it is tempting to sign up for all those snail mail credit card applications, show some restraint, at least until after you close on the home. Getting approved for more credit can actually lower your credit score and give creditors pause about your ability to repay any new debt. The lenders I know are all great peeps, but they universally do not want to suddenly see credit surprises, so do your utmost to avoid the temptation to acquire more credit card bling.

2. Early Payoff Temptation

Figuratively, just keep your extra cash under the mattress until you are a new homeowner. When you pay off debt it updates your credit score date of last activity. Generally, while paying off debt early can be a smart move, during the home loan process is not the ideal time to have that revelation, as it can have a negative impact on your credit score. Sleep on the funds and pay off those nagging debts after you have the house keys in hand, not before. If you must indulge, make an extra payment across all your balances at the same time.

3. Charge It!

The new thingy, bright and shiny, must have, want so badly can nearly taste it, and fill-in-the-blank item can wait! It.Can.Wait. There is no quicker way to sabotage your home loan than to run up your credit cards while waiting for your loan to get through all the wickets. Your credit score will drop quickly and you may find that incredibly reasonable interest rate is no longer available to you, or worse yet, you no longer qualify for the home loan. A good rule of thumb is to ensure your card balances remain below 30% of their available limit.

4. Credit Card Consolidation

You could get penalized by moving around your balances and maxing out one (or more) card(s). Again, either wait until you own the property or complete the debt consolidate long before you decide to buy a home. If your lender gives you the green light, go for it, otherwise your best move is to make no move at all.

5. Cash is King

It can be, especially if you have fully documented where the money came from. Undocumented funds might as well be fool’s gold as your lender will ignore this unsubstantiated cash. The cash may be legit but it cannot be used to verify your income or as a down payment without a paper trail.

6. Avoid Closure

This is not a Dr. Phil moment! It is a prudent move to avoid closing credit card accounts while getting a home loan. Your debt ratio will go up, your credit history will be affected, and your lender, agent, significant other, etc. will not be happy with the outcome. Check with your lender before making this move, but the exception is closing old accounts showing an available balance if you believe they are already negatively affecting your credit score.

7. More is Less and Less is Better

Wait, what? The less you do to affect your credit the better. Period. That means tasks like creating new accounts, large fund transfers, changing your name, and being a loan cosigner need to wait until after you sign the closing documents.

8. Ignorance is Not Bliss

If your lender tries to contact you and needs you to send them something or call them back, you need to follow their instructions. You need them more than they need you so do everything in your power to be proactive when requests are made.

9. Not Making Periodic Payments

Please continue making regular payments on all your debt! Do not skip ANY payments. If you do miss a payment let your lender know as quickly as possible so they can determine if/how your loan application has been affected by your faux pas.

10. Not Being Transparent

Trying to hide credit issues will catch up with you. So will incorrectly reporting income, debt, and your work history. Your lender will find out anyway so it is best to be brutally honest from the beginning. You may be surprised by their willingness to help you, so help yourself by being as transparent as possible.

These are just a few of the ways consumers can get in their own way and sabotage their loan before the ink is dry. If in doubt about the process or approach you need to take, talk with a qualified mortgage professional. Getting and keeping a loan puts you on the path towards home ownership!

Know when it's time to replace your smoke and carbon monoxide alarms

(NC) If you're like most homeowners, on more than one occasion you've found yourself looking around and thinking…“Have we really been in this house that long?”

Along with the happy memories, and the dated paint or wallpaper, are two devices essential for your family's safety - smoke and carbon monoxide alarms. And just like the decorating, these too need a refresh every so often.

Smoke and CO alarms monitor the air non-stop with advanced circuitry and highly accurate sensors. They even self-check themselves continuously to make sure they will be ready should danger strike.

As they stand guard over the years they also have to contend with pet hair, dust, cooking grime and other airborne contaminants. So is it any surprise that, whether battery powered or wired into your home's electrical system, these potentially life-saving devices eventually need to be replaced?

To be certain your family is safe, check the age of all your alarms. Look for a date of manufacture sticker on the outside edge of the alarm or, for older models, on the bottom. You may need to unplug or remove the alarm from the ceiling temporarily to find it. Once you know the age, follow the guidelines of the National Fire Protection Association: Replace smoke alarms immediately if they are older than 10 years (or if you can't find a date of manufacture) and CO alarms if they were manufactured prior to 2009.

Canada's leading alarm manufacturer, Kidde, offers a complete selection of smoke and carbon monoxide alarms with the longest lifespan – a full 10 years.

To keep your family protected, follow these replacement rules whether your alarms are battery powered, plug-in or hardwired.

How to spend less on your energy bills

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(NC) Heating bills can be one of your family's largest expenses. Homes are typically heated by natural gas, electricity or heating oil. In Ontario, natural gas is the most affordable choice for heating your home – rates change based on the market every three months, but natural gas still costs less than half the price of electricity or oil.

About 60 per cent of your annual natural gas use goes toward keeping your home warm. Since many natural gas costs are passed through directly to the customers, reducing your natural gas consumption can help to lower the bills. Here are some tips from Enbridge Gas Distribution on how you can keep your energy costs low.

• Check your windows and doors. Is the caulking or weather stripping doing its job? Look for cracks, feel for drafts, and replace the caulking or weather stripping as necessary.

• Lower the temperature on your thermostat by three degrees when you're sleeping or out of the house.

• Is it a sunny day? Open the curtains to let the sun shine in. Not only will you get some needed vitamin D, but the sun will help to warm your home.

• Close the air vents and doors to rooms that you don't frequently use – like guest bedrooms or basements. Considering making a DIY draft-stopper to use at the bottom of these doors.

• Check with your natural gas utility to see if they have billing programs – such as Enbridge's Budget Billing Plan which allows you to distribute your charges fairly evenly for the majority of the year.

• See if you qualify for low-income assistance programs – like Enbridge's Home Winterproofing Program.

More energy efficiency tips are available online at enbridgegas.com/energyefficiency.

10 Tips on Improving Indoor Air Quality

by Tina Gleisner, in Plumbing, Electrical, HVAC

www.realtorpankajpatel.com

You work hard to stay healthy, eating the right foods and getting lots of exercise. The air you breathe also affects your health but it’s harder to make sure it’s clean because you can’t see it or feel it. And you don’t want to wait until you get sick or one of your children is diagnosed with asthma. That’s why the government focus on Indoor Air Quality (IAQ) is so important, and why this article offers you a collection of tips on improving indoor air quality in your home.

This is a new problem as we seal gaps to tighten up the envelope wrapping our homes to conserve energy. These gaps used to allow unhealthy indoor air to be exchanged with fresh air from outside. Please don’t look for an easy solution, and don’t be fooled by the advertising on air filter packages that promise healthy living. It simply isn’t true. (Read: How the Right Home Air Filter Can Save You)

Tips on Improving Indoor Air Quality

There’s a lot of misinformation swirling around, and packaging that claims things are green or healthy, when there’s no proof to substantiate the claims.

Houseplants are a great example of this. They’re lovely for decoration and there are also lots of articles telling us indoor house plants help improve air quality. The truth is while laboratory tests showed excellent results removing VOC in the 1980s, subsequent testing in residential settings hasn’t supported these findings. (Read: How Well Do House Plants Perform as Indoor Air Cleaners?)

So here are tips on improving indoor air quality in your home, focusing on what you bring into your home, along with things you do at home.

Stop Buying Productes that Bring Pollutants into Your Home

You probably don’t realize how many different ways you introduce unhealthy pollutants into your home. So hopefully once you know, you’ll do a better job of reducing or eliminating things that have a negative affect on the air you and your family breathe at home.

• Don’t smoke inside your home.
• Don’t use candles, or at least avoid those made with paraffin that releases chemicals. Beeswax and soy candles are good alternatives, as long as they aren’t scented with essential oils versus synthetic fragrances. You should also trim wicks to 1/4″ to reduce the amount of soot given off.

Find beeswax candles

… or flameless candles

• Buy products that don’t have unhealthy chemicals like VOCs. Everyone’s heard of low/no VOC paints but what about these products? For product specific pollutants, visit the National Institute of Health’s Household Product Database.
  • Aerosol spray products for paints, cosmetics and pesticides.
  • Upholstered furniture and carpeting, plywood and pressed wood products if they contain formaldehyde.
  • Appliances with refrigerant used in air conditioners, freezers, refrigerators and dehumidifiers. Freon used in older appliances is being phased out due to ozone.
  • Cleaning products like air fresheners, bleach, toilet bowl cleaners, citrus or pine oil cleaners, furniture polishes and more.
  • Personal care products including nail polish and remover, colognes, perfumes, rubbing alcohol and hair spray.
  • Dry cleaned clothes, spot removers and cleaners used for fabric/leather.
  • Home office and hobby products like inks, toners, correction fluid, glues and other adhesives, etc.
  • Home maintenance products including caulk, grout, insulation, paint and stain, adhesive removers, contact and model cement, etc.
  • Pet care products like litter stain/odor removers, flea and tick control products, etc.
  • Lawn care products and pesticides like lawn fertilizer, pool products, herbicides, etc.
  • Ozone generators which are dangerous for children, the elderly and people with breathing problems. The EPA and American Lung Association advise against these “air purifiers”.

Please add your tips below, so everyone can improve their indoor air quality.

Proactive Tips for Improving Indoor Air Quality

Find a dehumidifier

• Don’t allow appliances to exhaust air and/or moisture inside your home. This means no ductless range hoods and bathroom/dryer vents should always be vented outside. Seriously, this was a common problem we found in my handyman business that had to be corrected.
• Make sure all fixtures that burn fuel are vented to the outside, away from windows and HVAC intake vents. These include furnaces, fireplaces, range tops, exhaust fans and similar appliances.
• Work with chemicals outside, and not in your garage. You should strip paint, solder and glue, tune up your lawn mower or snow blower outside.
• Ensure adequate ventilation for your house, changing filters on your HVAC equipment and using additional air cleaners as needed. Air cleaners should be UL 867 certified and meet California’s ozone release requirements. Weather permitting, open doors and windows and use ceiling fans except when there are high levels of allergens outdoors.

Eureka HEPA vacuum

• Keep your home dry, using dehumidifiers if necessary. Take immediate action to remove water and wet materials, like drywall and insulation in a flooded basement, to prevent the growth of mold.
• Take steps to keep your home clean, leaving shoes at the door, using a high efficiency (HEPA) vacuum cleaner and washing bedding to reduce exposure to allergens and dust mites.

Photo credit for candle photo: Kensal Walk – Living Room via photopin(license)

Protecting your basement from winter water damage

Published Lisa Evans - January 7, 2016

www.realtorpankajpatel.com

Ensuring your basement is warm, dry and comfortable in the spring means taking some steps outside your home to protect your basement from water damage. We spoke with Tony Romanelli of RCC Waterproofing, a company that has been providing fixing damp basements and foundation cracks in homes in Toronto since 1920, about protecting your basement with waterproofing.

Inspect your eaves and downspouts

“A lot of time when people are moving snow, they’ll disconnect (the downpipe) and that can cause a big flood in the basement when the first rain comes,” says Romanelli. Check your downspouts to make sure they’re connected and facing the right way: away from your home.

Shovel smart

Make sure you’re shoveling snow away from your home’s foundation. If snow is piled up against your house, it can cause damage in the spring when it melts. “Water needs somewhere to go,” says Romanelli. “If you don’t give it anywhere to go, it’s going to end up in your basement.” Shovel snow away from your home and make sure you leave a path for the water to go in the springtime.

Get rid of ice

Ice can build up in your downspouts, creating backup when the first rainfall of the season comes. “The ice won’t melt as fast as the first rain comes,” says Romanelli. Check your downspouts regularly, making sure to break off chunks of ice.

Check your sump pump

Your sump pump plays a key role in protecting your basement from a flood. Make sure your sump pump is functioning properly before the first rainfall of the season. Often, the sump pump doesn’t get used all winter and you only find out it isn’t working in the spring when you need it. To check your sump pump, move the float up and down in a pumping fashion or contact a professional to inspect it.

Inspect basement walls for water damage

Water damage that occurred during the fall or winter months may start to show up in the spring and can cause mould to build up. Inspect walls for staining caused by water leaking into your home. Spring is also a great time to make sure your windows are sealed properly as water can seep into your home through these openings.

Ensure your basement is ready for the spring season ahead. Visit RCC Waterproofing‘s profile online to learn more about the company and how they can help protect your basement this winter season.

4 questions to ask yourself before starting a renovation

(NC) One of the worst mistakes a homeowner can make when tackling a major renovation is to jump in sledgehammer first without a plan. Whether you're an aspiring homeowner looking to enter the housing market with a “fixer upper,” or coming into the New Year looking to renovate and add function or value to your space, a renovation can be a good solution, but it can also be mess.

Dust and hard work aside, a renovation has obvious appeal as it generally brings a higher resale price. Many don't realize that planning for a renovation sometimes requires even more work than the execution itself, but if you're up for it, the end result is a bigger and better home.                                              www.realtorpankajpatel.com

So, here's what you need to ask yourself before any renovation:
1. What is your budget?

When planning for a renovation, always be conservative. If your budget is $100,000, plan to spend $80,000. Renovations are almost always guaranteed to go over budget, as unforeseen issues pop up. Having a contingency plan from the start will get you through when you check in to see if the work is on track.

2. What is your timeline?

Knowing this in advance as well as the scope of work being done will help you determine whether you stay in your home during a renovation or go elsewhere. Living through a major renovation is never easy, but if you decide to do it, keep in mind the added cleaning at the end of the day to make the space livable again. It's always a good idea to request a payment schedule that is tied to your timeline and project milestones.

3. Have you done the required research?

In the case of renovations, there is no such thing as over-asking or over researching. It's good to have a rough idea of what materials cost in advance, as well as what is needed for a particular job. Also, don't be afraid to do your homework when it comes to picking the right contractor. Get several quotes and references and check out any sites in progress to get an idea of how they work.

4. What is my resale goal?

Ask yourself how much you're looking to increase your home's value. This will help determine how much you should be investing in order to hit the target. For owners renovating with resale in mind, investing in spaces like the kitchen, bathroom or new flooring, although more costly than minor cosmetic changes, can pay off big time when it comes time to sell. If you're not sure of how long you'll be staying, it is always safe to renovate for the future. Investing in classic, quality finishes now will keep you happy in your space and increase its value in the long run.If you're planning a renovation, take your time and plan ahead to do it right. More renovation help is available at the Destination Renovation booth at the upcoming 2016 GTA Home + Reno Show, February 12-15 at the International Centre in Mississauga. www.gtahomeandrenoshow.com.