OREA In the News

Canadian Real Estate Magazine: OREA suggests governments leaving middle-class behind 

Tim Hudak, former leader of the Ontario Progressive Conservatives and current Ontario Real Estate Association CEO, says 2018 will be a jarring year if the government doesn’t change tack. “My main wish—and I hope it is an accurate forecast for 2018—is that government will start looking out for the middle-class for a change,” Hudak told REP. “For most of 2017, they were working against the middle-class. A recent OREA survey showed the vast majority of people define ‘middle-class’ as being able to own a home, but, almost universally, people agree homeownership is becoming more difficult with all the government rules, regulations, restrictions and taxes." 

**This story was in yesterday's IN THE NEWS.  The headline and some wording was corrected to reflect OREA's real position . 

 

Bloomberg: Condos fuel the strongest year in a decade for Canadian builders 

Last year was a blockbuster for Canada’s real estate developers after work began on the most homes in a decade amid soaring demand nationwide. Construction started on 219,675 units, according to 2017 data Tuesday from Canada Mortgage and Housing Corp. That’s up from 197,916 in 2016 and the most since 2007. Starts on multiple-unit projects such as condos hit a record in figures dating to 1955. 

 

CBC: December housing starts top expectations 

Housing starts across the country finished the year strongly with December's figure beating the consensus expectations of economists. Canada Mortgage and Housing Corp. said Tuesday that the annualized rate for housing starts for the last month of 2017 came in at  216,980 units, down from 251,675 units in November. However, the December figure still topped observers' expectation of an annualized rate of 211,000 units. 

 

Canadian Real Estate Magazine: Housing starts stable in December 

The 6-month trend measure for Canadian housing starts showed little movement in December, with 226,777 units compared to 226,178 a month earlier. “Despite the variation in activity across the country, the national trend in housing starts held steady at its highest level since 2008,” said Bob Dugan, CMHC’s chief economist. “Apartment starts in urban centres were up 6.2% in 2017 compared to 2016.” 

 

CBC: Housing market wilted during pre-budget jitters, but perking up: CMHC 

Real estate sales are down in St. John's but there's a bright side to the drop. New numbers crunched by Chris Janes, a senior market analyst for Canada Mortgage and Housing Corporation, show a 11.3 per cent drop in house sales in the capital city from 2016 to 2017. 

 

Reuters: Canada housing starts fall in December as condos decline: CMHC 

Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday. December’s decline bucked a strong year for homebuilding, with total urban starts up 9.2 percent from 2016 as developers continued to build condos and apartments even as Canada’s long housing boom showed some signs of slowing.


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988