A growing concern among many would-be home owners in Canada is the durability of their prospective abodes against property damage brought about by the steadily growing number of extreme weather occurrences.
“While safety is the main concern, it is also important to think about the costs associated with destruction and loss,” housing technology firm NUDURA recently stated in reference to severe wind, flooding, and fires.
One option that can make long-term living more cost-effective is going for what the company calls “disaster-resilient homes”. In NUDURA’s case, it allows Canadians to enjoy the benefits of its Insulated Concrete Forms: modules composed of two Expanded Polystyrene (EPS) panels connected with a hinged folding web, which are then stacked, reinforced, and filled with concrete.
The technology makes homes designed with NUDURA components far more durable than their regular counterparts, making them attractive investments in the long run.
“NUDURA ICFs can endure winds of up to 402 kph (250 mph) and the non-toxic fire retardant expanded polystyrene foam provides a fire protection rating of up to 4 hours, ensuring that [the structures] are safe and secure in almost any situation,” NUDURA technical services manager Keven Rector said.
Source: http://www.canadianrealestatemagazine.ca/news/building-technology-a-vital-home-purchase-consideration-226053.aspx
Monday, May 29, 2017
Thursday, May 25, 2017
Interest rates held as BoC weighs risks
The Bank of Canada held interest rates at 0.5 per cent Wednesday with an assessment of the economy which has some positives tempered with risks.
Governor Stephen Poloz said that while the economy is adjusting to lower oil prices and inflation is broadly in line with expectation, it expects growth in the second quarter to moderate from the first.
The bank is still closely watching high levels of household debt and rising house prices but noted that consumer spending and debt levels are robust and that is spreading broadly across regions.
Macroprudential and other policy measures, while contributing to more sustainable debt profiles, have yet to have a substantial cooling effect on housing markets, the bank said.
In its assessment of the BoC’s announcement, the Conference Board of Canada highlighted the ongoing risk of protectionism and the imbalances in real estate values and rising household debt.
“The subdued pace of inflation and uncertainties stemming from global and domestic risks has the Bank of Canada in wait-and-see mode. The next move in interest rates is likely upwards, but this may not come until early next year.
By then, there will be a greater understanding of how the risks may play out,” said Craig Alexander, Senior Vice-President and Chief Economist, The Conference Board of Canada.
Source: http://www.canadianrealestatemagazine.ca/market-update/interest-rates-held-as-boc-weighs-risks-225937.aspx
Governor Stephen Poloz said that while the economy is adjusting to lower oil prices and inflation is broadly in line with expectation, it expects growth in the second quarter to moderate from the first.
The bank is still closely watching high levels of household debt and rising house prices but noted that consumer spending and debt levels are robust and that is spreading broadly across regions.
Macroprudential and other policy measures, while contributing to more sustainable debt profiles, have yet to have a substantial cooling effect on housing markets, the bank said.
In its assessment of the BoC’s announcement, the Conference Board of Canada highlighted the ongoing risk of protectionism and the imbalances in real estate values and rising household debt.
“The subdued pace of inflation and uncertainties stemming from global and domestic risks has the Bank of Canada in wait-and-see mode. The next move in interest rates is likely upwards, but this may not come until early next year.
By then, there will be a greater understanding of how the risks may play out,” said Craig Alexander, Senior Vice-President and Chief Economist, The Conference Board of Canada.
Source: http://www.canadianrealestatemagazine.ca/market-update/interest-rates-held-as-boc-weighs-risks-225937.aspx
Thursday, May 18, 2017
GMREB cautions against hasty imposition of foreign buyers’ tax
In a statement earlier this week, the Greater Montreal Real Estate Board (GMREB) urged provincial officials to take due diligence before imposing a foreign buyer’s tax similar to that of B.C. and Ontario.
This is because the Montreal market is nowhere near being overheated, and because “the proportion of foreign buyers is quite different in Montréal compared to Toronto and Vancouver.”
“Looking at the dwelling vacancy rate, the pace of price growth, the number of months of inventory, as well as the available data on the percentage of foreign buyers, there is nothing to suggest that there is a situation in Montréal that requires a quick response,” GMREB board of directors chairperson Mathieu Cousineau said.
Fresh data from the Canada Mortgage and Housing Corporation estimated that the share of foreign buyers in the entire Montreal metropolitan area across all property types is only 1.5 per cent, a far cry from the 9.7 per cent proportion in Vancouver and the 4.9 per cent in Toronto.
“Overall, foreign buyers still have little impact on property prices in Greater Montréal. According to our brokers in the field, foreign buyers are present primarily in more well-off markets such as Ville Mont-Royal and Westmount,” according to the GMREB statement.
Cousineau added, however, that “we do believe that there is an urgent need to put in place the means to effectively identify property purchases by foreign nationals. This will enable us to monitor the evolving situation and make informed decisions.”
“It is important not to lump all foreign buyers together. A distinction must be made between foreign investors who buy properties for speculation and foreign buyers who establish their principal residence here,” the GMREB concluded.
Source: http://www.canadianrealestatemagazine.ca/news/gmreb-cautions-against-hasty-imposition-of-foreign-buyers-tax-225643.aspx
This is because the Montreal market is nowhere near being overheated, and because “the proportion of foreign buyers is quite different in Montréal compared to Toronto and Vancouver.”
“Looking at the dwelling vacancy rate, the pace of price growth, the number of months of inventory, as well as the available data on the percentage of foreign buyers, there is nothing to suggest that there is a situation in Montréal that requires a quick response,” GMREB board of directors chairperson Mathieu Cousineau said.
Fresh data from the Canada Mortgage and Housing Corporation estimated that the share of foreign buyers in the entire Montreal metropolitan area across all property types is only 1.5 per cent, a far cry from the 9.7 per cent proportion in Vancouver and the 4.9 per cent in Toronto.
“Overall, foreign buyers still have little impact on property prices in Greater Montréal. According to our brokers in the field, foreign buyers are present primarily in more well-off markets such as Ville Mont-Royal and Westmount,” according to the GMREB statement.
Cousineau added, however, that “we do believe that there is an urgent need to put in place the means to effectively identify property purchases by foreign nationals. This will enable us to monitor the evolving situation and make informed decisions.”
“It is important not to lump all foreign buyers together. A distinction must be made between foreign investors who buy properties for speculation and foreign buyers who establish their principal residence here,” the GMREB concluded.
Source: http://www.canadianrealestatemagazine.ca/news/gmreb-cautions-against-hasty-imposition-of-foreign-buyers-tax-225643.aspx
Monday, May 8, 2017
Mixed-use transit hub project to arise in Waterloo Region
The Region of Waterloo has taken its initial steps in the development of the King Victoria Transit Hub in Kitchener, having launched the first phase of bidding for private developers.
“This high profile project is predicted to change the way people think about Waterloo Region,” the Region stated in its announcement of the large-scale development.
The mixed-use transit hub will incorporate “seamless access to multiple modes of transportation and integrated residential, office and retail space. More importantly, the hub will connect our community to the Toronto-Waterloo Innovation corridor, promoting growth and generating substantial economic development.”
“By creating a landmark stop with space to live, work and shop, the transit hub will offer Waterloo Region much more than a better commuting system,” Regional Chair Ken Seiling added.
The request for qualifications (RFQ) phase is meant to draft a short list of applicants for the final request for proposal. RFQ closes on June 30, and the short list is scheduled to be announced on September 2017.
The Region stated that it will sell the property to the winning bidder, who will be responsible for the construction of the transit hall and related structures.
“Once complete, the transit hub will connect Grand River Transit (local buses), ION (light rail), GO trains, VIA rail, inter-city buses, taxis, pedestrians and cyclists. The onsite buildings will include residences, offices and stores. The site will also incorporate public spaces and transit support areas like pick-up and drop-off areas, bus bays and links to trails/paths.”
Source: http://www.canadianrealestatemagazine.ca/news/mixeduse-transit-hub-project-to-arise-in-waterloo-region-225236.aspx
“This high profile project is predicted to change the way people think about Waterloo Region,” the Region stated in its announcement of the large-scale development.
The mixed-use transit hub will incorporate “seamless access to multiple modes of transportation and integrated residential, office and retail space. More importantly, the hub will connect our community to the Toronto-Waterloo Innovation corridor, promoting growth and generating substantial economic development.”
“By creating a landmark stop with space to live, work and shop, the transit hub will offer Waterloo Region much more than a better commuting system,” Regional Chair Ken Seiling added.
The request for qualifications (RFQ) phase is meant to draft a short list of applicants for the final request for proposal. RFQ closes on June 30, and the short list is scheduled to be announced on September 2017.
The Region stated that it will sell the property to the winning bidder, who will be responsible for the construction of the transit hall and related structures.
“Once complete, the transit hub will connect Grand River Transit (local buses), ION (light rail), GO trains, VIA rail, inter-city buses, taxis, pedestrians and cyclists. The onsite buildings will include residences, offices and stores. The site will also incorporate public spaces and transit support areas like pick-up and drop-off areas, bus bays and links to trails/paths.”
Source: http://www.canadianrealestatemagazine.ca/news/mixeduse-transit-hub-project-to-arise-in-waterloo-region-225236.aspx
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