Category Archives: Statistics

Home listings in Regina hit 10-year high for May | CTV Regina News#.U6Bk8lqSGjQ.facebook#.U6Bk8lqSGjQ.facebook

Home listings in Regina hit 10-year high for May | CTV Regina News#.U6Bk8lqSGjQ.facebook#.U6Bk8lqSGjQ.facebook.


Renting vs. buying | Real estate | Investor Education Fund

Renting vs. buying | Real estate | Investor Education Fund.

The economic impact of real estate transactions in Canada

The economic impact of real estate transactions in Canada.

Mortgage rules change today but most Canadians are unaware!

TORONTO — New mortgage rules go into effect today in Canada but a recent  survey suggests many people are unfamiliar with the changes.

Starting Monday July 9th, 2012, lenders can only issue home equity loans up to a maximum of  80% of a property’s value — down from 85%.

The maximum amortization period also drops to 25 years from 30 years — giving  borrowers less time to repay the debt in full.

In addition, the federal government is capping the maximum debt ratios for  households and limiting government insurance to mortgages on homes with a  purchase price of less than $1-million.

A poll conducted by Pollara for Bank of Montreal found only about half of  those surveyed were familiar with the changes brought in by the federal  government.

And only 45% of those surveyed June 29 to July 4 were aware that the maximum  amortization period has been shortened by five years.

Read the full Leader Post article here!

Regina Construction Heating Up In June!

Thanks to an unprecedented burst of construction activity last month, 2012 is  likely going to be another record year for building permits in Regina.

The City of Regina issued $107.9 million in building permits in June,  compared with $46.8 million for June 2011. That brings the total value of  permits issued for the first half of 2012 to $348.1 million, well ahead of the  $285.7 million in the first six months of 2011.

Given that last year’s total of $548 million in permits was a record for the  city, the head of the city’s building division thinks another record year is  well within reach.

June saw a number of large permits issued, including one for $13.45 million to  Centre Square Development GP Inc. for the Centre Square condominium project at  2300 Broad Street, a permit for $24.06 million for new facilities at the RCMP  Training Academy at 6101 Dewdney Ave. and two permits for $6 million each to  Devereaux Developments for apartments at 5960 Little Pine Loop in the Skyview  subdivision in the northwest and Reimer Custom Designed Homes for a condo  project at 4891 Trinity Lane in the southwest.

residential construction has been leading the way, with $166.9 million in  residential permits issued in the first half, virtually double the $83.4 million  in residential building permits issued during the first six months of 2011.  Single-family dwelling permits hit $94.8 million in the first half, compared  with $57.8 million for the same period last year.

Read more on this article with the Leader Post:

Regina housing starts continue to climb in May

Housing starts in the Regina area increased for the sixth consecutive month to  146 units in May from 115 units in May 2011, according to Canada Mortgage and Housing  Corporation’s (CMHC) monthly survey of residential construction.

Single-detached housing starts in Regina totalled 117 units in May, a  30-per-cent increase over the previous year. To the end of May, single-detached  starts totalled 486 units.

Multi-family starts, which consist of semi-detached units, rows, and  apartments, also reported a gain in May, as the 29 starts were 16 per cent  higher than those reported in May 2011. With May’s gain, year-to-date  multi-family starts in Regina totalled 758 units.

Regina still holds a slight lead over Saskatoon in total year to date starts  at 1,244 versus 1,101 in the Bridge City; the big difference is that the Queen  City saw starts more than double from 587 last year, while Saskatoon posted a  2.2-per-cent decline from 1,126 for the same period last year.

Nationally, the pace of home construction cooled in May after a strong  showing in April. CMHC said the May figure of 19,264 estimated actual starts was  more in line with the pace of the previous six months.

On a seasonally adjusted annual basis, May starts hit 211,400 compared with  243,800 in April. The adjusted figure smooths out seasonal fluctuations and  calculates an annual figure as if the monthly number held steady for a year.

The seasonally adjusted annual rate of urban starts slipped by 15.8 per cent  to 189,600 units in May, with urban single starts down 4.2 per cent and multiple  starts off 20.7 per cent.

On the same basis, urban starts decreased by 35.8 per cent in Quebec, by 18.3  per cent in Ontario and by 7.7 per cent in the Prairies.

Urban starts were up 6.4 per cent in Atlantic Canada and 20.9 per cent in  British Columbia.

Click HERE to read the full Leader Post article.

April housing starts in Regina take a leap up!

Housing starts in Regina and area have leapt ahead of last year – and also  ahead of Saskatoon, statistics assembled by the federal government’s Canada  Mortgage and Housing Corp. (CMHC) say.

“I think there’s no doubt we’re going to end up setting some records this  year,” said Stu Niebergall, executive director of the Regina & Region Home  Builders’ Association.

CMHC said a total of 358 single-detached and multiple-family units were  started in Regina in April, more than doubling the 142 reported in April  2011.

By comparison, Saskatoon reported a total of 245 starts last month, compared  with 252 a year earlier.

One potential problem for Regina Niebergall said was “a significant amount of  pressure on the availability and capacity for serviced lots for new homes and  multi-unit starts”, adding it’s critical that organizations that provide  approvals and services to the residential construction industry “are able to  deliver their vital services in a timely manner or we could see an artificial  constraint on new housing in our community”.

Broken down by category, the number of single-detached housing starts in  Regina increased to 129 units last month, 59 per cent more than in April  2011.

An even more dramatic rise took place in multiplefamily units in Regina and  area: 229 in April, compared with 61 last year.

Looking back over the year to date, Regina and area have seen starts of 369  single-detached and 729 multifamily starts.

That’s a total of 1,098, more than double the 472 reported in the first four  months of 2011.

Regina’s multi-family starts were more than triple the 221 reported in the  first third of 2011.

That level of activity prompted Niebergall to say that it’s evidence that  Regina is “going to build our way out of the rental problem”.

In Saskatoon and area, there have been starts so far in 2012 of 556  singledetached and 317 multiplefamily units – a total of 873, down slightly from  the 900 reported in the first four months of 2012.

The CMHC figures show that starts of single-detached houses in that area rose  by 28 per cent, but multiplefamily units tumbled by 32 per cent.

Multi-family units are defined as semi-detached units, rowhouses and  apartments. CMHC figures do not break down apartments vs. condos.

Taking an even longerrange look, Niebergall said “it is only the end of April  and we have housing starts for individuals and families in Regina and area at  levels that exceed the entire year’s housing starts for five of the last 10  years. We have not seen this pace of housing starts since 1979, when 2,500 homes  were started.”

He added that this year’s array of housing starts in Regina and area are 41.1  per cent above the five-year average and 67.5 per cent above the 10-year  average.

Tuesday also saw the economic research arm of the Bank of Montreal (BMO)  report that total housing starts in Canada – projected to an annualized basis –  had surged to 244,900 units, substantially higher than the 190,200 predicted at  this time last year.

That increase caused BMO to state that, “Canada’s housing market, at least in  certain sectors and cities, is at risk of overheating.”

Source: The Leader Post