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Hydro One partners with Crime Stoppers to reduce metal theft
TORONTO - To combat a huge increase in metal theft, Hydro One and Crime Stoppers have joined forces to curb the crime wave. Copper conductor is used by the company on its power lines and at its transformer/distribution stations across the province.
Hydro One is contributing $10,000 to Crime Stoppers to help raise
awareness of the impact of this type of crime, and ways the public can help
identify those who engage in this unsafe and illegal activity.
Hydro One estimates copper theft has increased for the utility by
approximately 1,150 per cent from 2005 to 2006 and cost the company about
$1 million. According to numerous Ontario policing agencies, copper theft has
become one of the fastest growing forms of crime in the Province of Ontario.
In power lines copper wire is used as a conductor for electricity.
Contact with an energized power line can result in serious injury or death
from electrocution.
"This is becoming a very serious problem," said Chris Price, Hydro One's
Director of Security. "These thefts threaten the safety of the general public
and Hydro One staff and could negatively impact electricity reliability. We
expect our partnership with Crime Stoppers, and working closely with local law
enforcement will help reduce this criminal activity."
Price explained that the benefits of partnering with Crime Stoppers
include the option of anonymity when reporting incidents, and rewards for
providing information leading to arrests. "We believe that the partnership
will increase identification of metal thieves, and those paying for stolen
metal." He added that Hydro One continues to undertake investigations of
copper/metal thefts, and has invested in improved security systems.
Pat Gillie, President of the Ontario Association of Crime Stoppers
emphasized that for citizens who fear reprisal or are reluctant to get
involved, Crime Stoppers is an option for reporting information about this
dangerous theft. "Calling 1-800-222-TIPS is all it takes," she explained.
Crime Stoppers is a partnership of the public, police and media which
provides the community with a proactive program to anonymously assist in
solving crime and contributing to an improved quality of life. In Ontario,
there are 39 Crime Stoppers programs, linked together by a national toll-free
telephone number (1 800 222-TIPS, or 8477). Crime Stoppers takes information
24 hours a day, seven days a week. Callers never have to identify themselves
or testify in court.
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First quarter 2007 Apartment Building Construction Price Index up 9.9% from First quarter 2007
The composite price index for apartment building construction (1997=100) was 149.3 in the first quarter, up 1.4% from the previous quarter and up 9.9% from the first quarter of 2006. The quarterly increase was mostly the result of higher labour and materials costs and a strong market for building construction, particularly in Western Canada. Also, for the second quarter in a row, the year-to-year advance was the largest since the index was first published in the first quarter of 1988.
Western Canada recorded the highest quarterly changes, led by Calgary (+3.5%), followed by Edmonton (+2.8%) and Vancouver (+2.0%). Lower price increases were measured in Eastern Canada with a 1.1% advance in Toronto followed by Ottawa–Gatineau (Ontario part) (+1.0%), Halifax (+0.9%) and Montréal (+0.1%).
Calgary experienced the highest gain from the first quarter of 2006 (+24.3%), followed by Edmonton (+20.6%), Vancouver (+16.5%), Toronto (+6.3%), Ottawa–Gatineau (Ontario part) (+5.4%), Halifax (+5.1%) and Montréal (+2.9%).
Note: The apartment building construction price indexes provide an indication of new construction cost changes in six census metropolitan areas (CMAs) (Halifax, Montréal, Toronto, Calgary, Edmonton and Vancouver) and the Ontario part of the Ottawa–Gatineau CMA. Besides each of the CMA indexes and the composite index, there are further breakdowns of cost changes by trade groups within the building (structural, architectural, mechanical and electrical). These price indexes are derived from surveys of general and special trade-group contractors who report on the categories of costs (material, labour, equipment, taxes, overhead and profits) relevant to the detailed construction specifications included in the surveys.
|
Construction Union Wage Rate unchanged in April 2007
The Construction Union Wage Rate Index (including supplements) for Canada remained unchanged in April compared to the March level of 138.1 (1992=100). The composite index increased 2.0% compared with the April 2006 index (135.4).
Union wage rates are published for 16 trades in 20 metropolitan areas for both the basic rates and rates including selected supplementary payments. Indexes on a 1992=100 time base are calculated for the same metropolitan areas and are published for those where a majority of trades are covered by current collective agreements.
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Ontario Government Acts To Combat Underground Economy In Construction
New Information Sharing Agreement Will Help Protect Workers, Employers
And The Public
OTTAWA - The McGuinty government will aggressively target the underground economy through a new joint enforcement initiative between the Ministry of Labour and Tarion Warranty Corporation to locate unregistered homebuilders, Labour Minster Steve Peters said May 14, 2007.
"The underground economy in Ontario's construction sector affects
everyone," said Peters at Tarion's eastern office. "It hurts our economy,
quality of construction, competitiveness of legitimate construction
contractors and the health and safety of those who work in this vital sector."
"The information sharing agreement we are signing today will help
enforcement efforts to clamp down on unregistered builders who may be working
in the underground economy, help safeguard construction workers, level the
playing field for legitimate contractors and protect the home-buying public
and our economy."
The agreement between the Ministry of Labour (MOL) and Tarion Warranty
Corporation will allow the exchange of information on the location of
suspected unregistered residential construction contractors. This information
would provide important information to inspectors from MOL and Tarion. MOL
inspectors will help ensure contractors comply with provincial legislation on
workplace health and safety. Tarion, a non-profit corporation that administers
the Ontario New Home Warranties Plan Act, will verify contractors are properly
registered builders.
"Our agreement will assist Tarion to enforce regulations related to
illegal building to ensure consumers are protected from purchasing homes from
builders without proper qualifications," Tarion President and CEO Gregory Gee
said. "This is good news for new home buyers and the building industry."
The underground economy in Ontario's construction sector is estimated to
cost between $1 and $2 billion per year in lost revenue to all levels of
government through unpaid taxes, premiums, and other fees that legitimate
businesses pay.
"A stable and vibrant construction industry is vital to the economy of
Ontario," Peters said. "This agreement will help level the playing field for
law-abiding construction companies who contribute towards our prosperity."
COMBATING THE UNDERGROUND ECONOMY
IN THE CONSTRUCTION INDUSTRY
>>
OTTAWA - The underground economy is hurting the construction sector in
Ontario. It undermines the health and safety of construction workers, erodes
labour standards, costs all levels of government in lost tax revenues and
hurts consumers who pay the price for poor quality construction.
The joint enforcement initiative enabled by the information sharing
agreement signed by the Ministry of Labour (MOL) and Tarion Warranty
Corporation will help combat underground practices, protect workers and ensure
fair competition for licensed contractors.
MOL's mandate is to set, communicate, and enforce workplace standards in
the key areas of occupational health and safety, employment rights and
responsibilities, trades qualifications and labour relations.
The Tarion Warranty Corporation is a private, not-for-profit corporation
established to protect the rights of new homebuyers and regulate new
homebuilders. Tarion is responsible for administering the Ontario New Home
Warranties Plan Act (ONHWPA) and acts as a guarantor of builders' warranties
for new homes and condominiums in the province. All residential builders in
Ontario must be registered with Tarion, which is financed by builder
registrations, renewals and home enrolment fees.
The Joint Enforcement Initiative
MOL and Tarion have entered into an agreement to exchange certain
information between the two organizations to locate unregistered homebuilders
who may be working in the underground economy.
Information Exchange
Under the information exchange agreement, Tarion would advise MOL if it
determined that a home building contractor has not complied with the
registration requirements of the ONHWPA. MOL would then send an inspector to
the site to determine if the contractor is in compliance with other laws, such
as the Occupational Health and Safety Act (OHSA).
MOL would advise Tarion of locations where potentially unregistered
homebuilding is taking place. Tarion could then send one of its inspectors to
the location to investigate.
The information exchange initiative will be piloted by the Jobs
Protection Office (JPO) of the Ministry of Labour in the eastern region of the
province.
JPO inspectors will be dispatched to investigate potential contraventions
associated with workplace health and safety standards, trades qualification,
retail sales tax, employer health tax, provincial income tax and company
registration with the Ministry of Government Services.
The initiative supports the government's overall priority of strong
people and a strong economy.
Benefits to Workers, Employers, and the Public
The underground economy in the construction industry is estimated to cost
between $1 and $2 billion per year in lost revenue to all levels of
government, with a significant amount of that lost to the Ontario government
through unpaid premiums and other fees that legitimate businesses pay as part
of their contribution to our society. This is money lost that should be
contributing to health care, education and other measures to help all
Ontarians.
Unregistered construction contractors may not be providing their workers
with protections and minimum standards under provincial legislation. There may
be a failure to pay workers' compensation premiums to cover workers as
required under the Workplace Safety and Insurance Act, 1997 (WSIA), or be in
compliance with requirements to protect the health and safety of workers under
provisions of the OHSA. There may also be workers working in violation of
compulsory trade certification or qualifications.
Combating the underground economy in the construction industry benefits
legitimate construction employers and their employees by leveling the playing
field. Law abiding employers are put at a competitive disadvantage through
higher tax and contribution burdens.
Underground practices reduce the contribution base for benefit plans and
weaken apprenticeship training and skills development. The underground economy
also undermines job opportunities for qualified tradespersons who acquire safe
work practices through training.
Ensuring that homebuilders are registered also protects consumers who pay
the price for poor quality construction. Quality built homes guaranteed
through ONHWPA that are made from proper materials by qualified tradespersons
contributes to a healthy and stable construction industry that is vital to the
Ontario economy.
|
United Rentals Announces U.S. Government is Its Largest Customer
GREENWICH, CONN. - United Rentals announced May 14, 2007 that the U.S. Federal Government became its largest customer in 2006. The company obtained its General Services Administration (GSA) contract allowing it to do business with all agencies of the federal government in 2005, and is the only national equipment rental company that has a GSA contract.
"The U.S. Government represents a very unique opportunity for United
Rentals," said Michael MacDonald, senior vice president-sales for United
Rentals. "All branches of government and the armed services have unparalleled
access to our rental equipment fleet and our line of contractor supplies. The
company's dedicated sales force also provides a broad array of services
ranging from preventative maintenance to emergency response in times of
natural disaster."
Under the terms of its GSA contract, GS-06F-0068R Schedule 51V, United
Rentals provides government customers with access to rental equipment,
contractor supplies and new equipment sales and services through its extensive
network of rental locations. The scope of the agreement establishes United
Rentals as an approved supplier to the executive, legislative and judicial
branches, as well as the U.S. Military.
Although the federal government is United Rentals' largest customer,
revenues from the government represent less than 1% of the company's revenue,
which in 2006 was $3.6 billion.
|
Non-residential Construction Price Index increase in First quarter 2007
The composite price index for non-residential building construction increased 2.0% from the previous quarter to 152.4 (1997=100) in the first quarter, up 10.0% from the first quarter of 2006. The 2.0% increase was mostly the result of higher labour and material costs and the persistent strength of the non-residential building construction market, particularly in Western Canada.
Western Canada recorded the highest increases from the fourth quarter of 2006 with Calgary posting a 3.9% increase, followed by Edmonton (+3.3%) and Vancouver (+2.2%). Smaller upward movements were recorded in Eastern Canada with Ottawa–Gatineau, Ontario part (+1.8%), followed by Toronto (+1.7%), Halifax (+1.5%) and Montréal (+0.2%).
Calgary also had the largest change (+21.3%) from the first quarter of 2006, followed by Edmonton (+18.5%), Vancouver (+13.8%), Toronto (+6.9%), Ottawa–Gatineau, Ontario part (+6.8%), Halifax (+5.3%) and Montréal (+2.6%).
Note: Non-residential building construction price indexes provide an indication of changes in construction costs in six census metropolitan areas or CMAs (Halifax, Montréal, Toronto, Calgary, Edmonton and Vancouver) and the Ontario part of the Ottawa–Gatineau CMA.
Three construction categories (industrial, commercial and institutional buildings) are represented by selected models (a light factory building, an office building, a warehouse, a shopping centre and a school).
Besides the census metropolitan areas and composite indexes, a further breakdown of the changes in costs is available by trade group (structural, architectural, mechanical and electrical) within the building types.
These price indexes are derived from surveys of general and special trade group contractors. They report data on various categories of costs (material, labour, equipment, taxes, overhead and profit) relevant to the detailed construction specifications included in the surveys.
| Non-residential building construction price indexes1 |
| |
First quarter 2007 |
First quarter 2006 to first quarter 2007 |
Fourth quarter 2006 to first quarter 2007 |
| |
(1997=100) |
% change |
| Composite |
152.4 |
10.0 |
2.0 |
| Halifax |
131.7 |
5.3 |
1.5 |
| Montréal |
135.2 |
2.6 |
0.2 |
| Ottawa–Gatineau, Ontario part |
146.6 |
6.8 |
1.8 |
| Toronto |
154.2 |
6.9 |
1.7 |
| Calgary |
172.8 |
21.3 |
3.9 |
| Edmonton |
165.8 |
18.5 |
3.3 |
| Vancouver |
150.8 |
13.8 |
2.2 |
|
|
New Housing Price Index rose marginally in March 2007
The cost of purchasing a new house rose 0.3% in March from the previous month. The result was a New Housing Price Index of 149.3 (1997=100). On a 12-month basis, contractors' selling prices were up 9.3%, down from the 10.0% increase recorded in February.
Of the 21 metropolitan areas surveyed, 16 registered increases, with Saskatoon leading the way (+10.5%). This was as a result of the higher cost for trade labour, in particular, framing, painting, plumbing, and electrical and building materials — specifically, drywall, cabinets and mechanical. Regina (+2.4%) was up, due mostly to materials, labour, land increases and carrying costs. St. Catharines–Niagara (+1.6%) also had gains due to material costs.
Notable gains were also observed in Vancouver, Windsor, Winnipeg, Hamilton, Calgary, St. John's and Victoria. Of the 16 metropolitan areas showing increases, land prices rose in 7.
Overall, three metropolitan areas registered no monthly change. Kitchener (-0.8%) showed the largest decrease due to a moderating market. Charlottetown showed the only other drop.
Edmonton (+39.8%) posted the largest 12 month increase followed by Calgary (+30.8%). Saskatoon (+22.7%), Regina (+16.1%) and Winnipeg (+6.8%) also had noteworthy year-over-year gains.
| New housing price indexes |
| |
March 2007 |
March 2006 to March 2007 |
February 2007 to March 2007 |
| |
(1997=100) |
% change |
| Canada total |
149.3 |
9.3 |
0.3 |
| House only |
159.2 |
9.0 |
0.3 |
| Land only |
130.2 |
10.2 |
0.5 |
| St. John's |
132.8 |
4.0 |
0.4 |
| Halifax |
131.4 |
1.3 |
0.0 |
| Charlottetown |
117.7 |
2.0 |
-0.1 |
| Saint John, Fredericton and Moncton |
113.1 |
0.5 |
0.1 |
| Québec |
146.7 |
3.8 |
0.1 |
| Montréal |
152.6 |
4.9 |
0.1 |
| Ottawa–Gatineau |
161.3 |
2.9 |
0.2 |
| Toronto and Oshawa |
139.4 |
2.7 |
0.1 |
| Hamilton |
147.3 |
5.7 |
0.5 |
| St. Catharines–Niagara |
149.7 |
5.6 |
1.6 |
| Kitchener |
137.2 |
0.6 |
-0.8 |
| London |
135.4 |
3.1 |
0.0 |
| Windsor |
104.0 |
-1.9 |
0.7 |
| Greater Sudbury and Thunder Bay |
104.2 |
3.1 |
0.2 |
| Winnipeg |
151.6 |
6.8 |
0.6 |
| Regina |
174.1 |
16.1 |
2.4 |
| Saskatoon |
164.6 |
22.7 |
10.5 |
| Calgary |
240.2 |
30.8 |
0.5 |
| Edmonton |
214.1 |
39.8 |
0.0 |
| Vancouver |
117.4 |
6.8 |
1.1 |
| Victoria |
117.9 |
0.1 |
0.4 |
| Note: | View the census subdivisions that comprise the metropolitan areas online. |
|
|
WATERLOO REGION NEW CONSTRUCTION NUMBERS DROP IN APRIL
Waterloo Region - The Canada Mortgage and Housing Corporation (CMHC) released Kitchener’s preliminary housing starts data for the month of April 2007.
April starts were at their lowest level since April 1991. Construction began on a total of 119 homes in the Kitchener Census Metropolitan Area (CMA), a decrease of 61 per cent from the 309 units started in the same month last year.
Only 72 single-detached foundations were poured in April, a decline of 65 per cent from the same month last year and the twelfth consecutive monthly year-over-year decline.
At 47 units, multiple family home starts (which include semi-detached homes, townhouses and apartments) were down from the 106 units which were started in April 2006. Despite strength in apartment construction, housing starts for the first four months of 2007 were eight per cent lower than in the same period of 2006.
“New home starts this year have been affected by several factors,” said Erica McLerie, Market Analyst for the Kitchener CMA. “More choice in the resale home market, a low supply of available residential lots, relatively more expensive new homes, and slower employment growth have contributed to the unusually weak new construction figures,” added McLerie.
ONTARIO NEW HOME STARTS EDGE HIGHER IN APRIL
As expected, Ontario home starts edged higher in April. The Seasonally Adjusted Annual Rate (SAAR) of urban* starts reached 55,600 units, up from 50,800 unit starts registered in March. Most of the increase was registered in the volatile multi-family home segment which includes semi-detached, town homes and apartments.
The longer term trend for Ontario housing starts has been one of high starts levels, gradually edging lower. For example, while actual urban Ontario home starts for the year are 21 per cent lower compared to 2006, home starts are expected to remain above historical averages this year.
“The pace of new home demand has weakened vis-à-vis the record level of demand registered in Ontario’s existing home market,” said Ted Tsiakopoulos, CMHC`s Ontario regional economist. “While Ontario new home starts reflect this weakening trend, a pick-up in new home starts is to be expected for two important reasons. First, resale markets have tightened thanks to improved borrowing conditions—a good news story for the new construction market. Secondly, new home starts continue to remain below trend. This is particularly true for the multi-family home segment. Given that the multi-family sector performs relatively better at the mature phase of a real estate cycle, they are expected to move back on trend in the months ahead,” added Tsiakopoulos.
Housing starts continue to ease in April
OTTAWA - The seasonally adjusted annual rate(1) of housing starts was 211,900 units in April, down from 214,000 units in March, according to Canada Mortgage and Housing Corporation (CMHC).
"Housing starts in April remain strong and are in line with our new home
construction forecast for 2007," said Bob Dugan, Chief Economist at CMHC's
Market Analysis Centre. "The slight decrease in housing starts is the result
of declines in single-detached and rural area starts. Multiple starts
continued to move upwards in April."
April's seasonally adjusted annual rate of urban starts was 179,000
units, up 0.6 per cent from March. The urban multiple component rose
2.3 per cent to 94,700 units in April, while single starts decreased
1.2 per cent to 84,300 units.
Seasonally adjusted urban starts decreased in April in all regions except
Ontario, where starts were up 9.4 per cent. Urban starts were down
4.0 per cent in Quebec, 3.2 per cent in British Columbia, 3.1 per cent in the
Atlantic, and 1.8 per cent in the Prairies. Urban single starts decreased in
all regions except Ontario and the Prairies, while urban multiple starts were
down in all regions except Ontario and the Atlantic.
Rural starts were estimated at a seasonally adjusted annual rate of
32,900 units in April.
Actual starts, in rural and urban areas combined, were down an estimated
6.6 per cent in the first four months of 2007 compared to the same period in
2006. Actual starts in urban areas alone were down an estimated 9.3 per cent.
Actual single starts in urban areas were 14.5 per cent lower than they were a
year earlier, while actual urban multiple starts were down 4.7 per cent. "The
larger decrease in single starts reflects the growing interest in less
expensive multiple units, which was expected after several years of strong
price growth" added Bob Dugan. |
Value of building permits in Canada, increased sharply in March 2007
Value of building permits in Canada, increased sharply in March 2007, rebounding with a double-digit gain following a particularly sluggish performance in February.
Contractors took out building permits worth $6.1 billion, a 27.4% increase from February. Both residential and non-residential sectors recorded comparable gains.
Intentions in the non-residential sector surged 30.2% to $2.4 billion, in the wake of strong performances in the industrial and commercial sectors that more than offset a slight decline in institutional intentions.
In the residential sector, both single- and multi-family components were on the rebound, pushing the value of permits up 25.6% over February to $3.7 billion. This was the highest level during the last five months.
The total value for permits in March was 0.9% higher than the monthly average during the last three months of 2006. The last quarter of 2006 was the strongest on record for the value of building permits.
Both residential and non-residential intentions recorded widespread gains among the provinces, with a few exceptions. In Manitoba, permits declined in both sectors. In Nova Scotia and Newfoundland and Labrador, intentions declined only in the residential sector.
Housing sector: Recouping February's losses
Intentions in the housing sector in March more than compensated for February's decline, thanks to a huge gain in permits for multi-family dwellings.
Municipalities authorized multi-family permits worth $1.3 billion, a gain of 65.3% and the highest level in the last four months. A total of 9,663 units were approved, up 38.3% from February.
The value of single-family permits almost regained losses in the previous month, increasing 10.7% to $2.4 billion. This was the third gain over the last four months. Municipalities approved 9,584 single-family units, up 5.3% from February.
Despite the substantial increase in the number of approved units from February, the downward trend of the past few months in the number of approved residential units has extended into March. The downward trend began in August 2006 following an almost continuous climb that started in March 2005.
Several factors still favour strong demand for housing, including continued strength in employment, still advantageous mortgage rates and rising disposable income. However, there have been recent declines in consumer confidence, while affordability may be affected by the continued rise in new housing prices.
Provincially, Ontario posted the biggest gain (in dollars) in the total value of residential permits (+25.7% to $1.2 billion), with strong gains in both single- and multi-family permits.
British Columbia and Alberta also had significant gains in the value of permits, and Alberta's level was the second highest on record for residential intentions. The value of multi-family permits increased strongly in both provinces. Alberta recorded a slight gain in single-family permits while they declined in British Columbia.
Quebec had a robust increase in the value of single-family permits, which reached $468 million, the highest value since October 2004.
Newfoundland and Labrador experienced big declines in both single- and multi-family permit values, offsetting large gains in February.
On a quarterly basis, the value of residential permits for the first three months of 2007 hit $10.3 billion, down 5.8% from the fourth quarter of 2006.
First quarter single-family permits amounted to $6.9 billion, up 1.5%, while the value of multi-family permits fell 17.7% to $3.4 billion.
Municipalities approved 55,018 residential units in the first quarter, down 6.8% from the last quarter of 2006.
Non-residential: Surge in commercial, industrial permits
March's 30.2% gain in the non-residential sector came from vigorous growth in construction intentions, spread across most provinces and in 26 of the 34 census metropolitan areas.
In the commercial component, the value of construction projects totalled $1.5 billion in March, a 43.1% increase, following a 21.3% decline in February. This gain took the value of commercial permits to their second highest value on record, surpassed only by the record $1.6 billion set in October 2006.
While the increase came in large part from major projects for office buildings as well as in the recreation category, gains were recorded in every type of commercial buildings.
Provincially, the largest gain (in dollars) in this component occurred in Alberta, where strong demand for office building space and projects for hotels contributed in large part to the strong showing. Quebec and Ontario also reported sizeable gains.
In the industrial sector, the value of permits bounced back 37.6% to $423 million, after a 53.5% decline in February. The gain came from construction projects for plants.
In March, increases in industrial permits were recorded in every province except British Columbia. The largest gain (in dollars) by far was recorded in New Brunswick, where the value of industrial permits reached a new record high of $58 million, thanks to large projects for plants.
The overall trend in the industrial sector has remained relatively flat since September 2006, after a marked increase throughout the first three quarters of 2006.
In the institutional sector, the value of permits edged down 1.3% to $494 million, the third decrease over the last four months. An increase in construction intentions for medical buildings was offset by a decline in the value of permits for education buildings. The value of institutional permits has been on a declining trend since October 2006.
Provincially, Alberta posted a large decline in the value of institutional permits with significant retreats in the medical and education categories. This decline followed a very high level in February.
Meanwhile, in Ontario, institutional permits surged 59.7% after a 50.8% decline in February. The major factor in the turnaround was proposed projects for hospitals.
On a quarterly basis, the cumulative value of non-residential permits reached $6.9 billion in the first quarter of 2007. This was a 5.3% decline from the $7.3 billion worth of permits issued in the last quarter of 2006, which was a quarterly record.
The biggest decline occurred in the commercial sector (-9.8% to $4.3 billion), followed by the second consecutive quarterly decline in institutional permits (-1.9% to $1.6 billion). The value of industrial permits increased 5.4% to $1.4 billion, the highest level since the first quarter of 1989.
Several factors could have had a positive impact on non-residential construction intentions. These include strong demand for office space in several centres, advantageous interest rates and high corporate profits. In addition, according to Statistics Canada's most recent Business Conditions Survey, manufacturers were optimistic about prospects for production and employment for the second quarter of 2007.
Metropolitan areas: Majority showed quarterly declines
The value of building permits declined in the first quarter of 2007 in a majority of metropolitan areas for both residential and non-residential sectors. Overall, the total value of permits declined in 21 of the 34 census metropolitan areas. The largest decline occurred in Vancouver after a quarterly record set in the last three months of 2006.
Other significant declines occurred in Montréal, Halifax, Calgary and London. In Halifax, the value of building permits fell to its lowest quarterly level since the fourth quarter of 2001. The first-quarter value in London was the lowest quarterly level since the last quarter of 2003.
On the other hand, new quarterly records were posted in Saint John, Québec, Greater Sudbury, Saskatoon and Victoria.
| Value of building permits, by census metropolitan area1 |
| |
February 2007r |
March 2007p |
February to March 2007 |
January to March 2006 |
January to March 2007 |
January–March 2006 to January–March 2007 |
| |
Seasonally adjusted |
| |
$ millions |
% change |
$ millions |
% change |
| St. John's |
22.9 |
25.3 |
10.4 |
69.5 |
71.5 |
2.9 |
| Halifax |
24.8 |
24.9 |
0.5 |
148.6 |
81.1 |
-45.4 |
| Moncton |
14.2 |
11.9 |
-16.0 |
35.2 |
36.6 |
4.1 |
| Saint John |
15.8 |
36.0 |
126.9 |
38.2 |
73.1 |
91.2 |
| Saguenay |
5.9 |
10.4 |
76.9 |
28.5 |
20.5 |
-27.9 |
| Québec |
115.7 |
131.2 |
13.4 |
285.5 |
343.7 |
20.4 |
| Sherbrooke |
23.9 |
21.1 |
-11.8 |
106.6 |
62.5 |
-41.4 |
| Trois-Rivières |
13.2 |
23.2 |
75.6 |
51.0 |
53.9 |
5.6 |
| Montréal |
431.6 |
590.5 |
36.8 |
1,383.4 |
1,489.3 |
7.7 |
| Ottawa–Gatineau, Ontario/Quebec |
166.8 |
296.2 |
77.6 |
643.6 |
691.6 |
7.5 |
| Ottawa–Gatineau (Que. part) |
31.1 |
58.7 |
88.6 |
120.1 |
133.6 |
11.2 |
| Ottawa–Gatineau (Ont. part) |
135.6 |
237.5 |
75.1 |
523.5 |
558.0 |
6.6 |
| Kingston |
8.7 |
32.4 |
273.1 |
54.5 |
51.6 |
-5.4 |
| Peterborough |
6.5 |
8.1 |
23.9 |
37.0 |
16.7 |
-54.7 |
| Oshawa |
28.4 |
47.2 |
66.2 |
216.0 |
175.6 |
-18.7 |
| Toronto |
892.6 |
1,016.3 |
13.9 |
2,285.8 |
3,152.5 |
37.9 |
| Hamilton |
66.4 |
143.7 |
116.4 |
236.9 |
294.5 |
24.3 |
| St. Catharines–Niagara |
34.5 |
38.6 |
12.0 |
100.6 |
93.1 |
-7.4 |
| Kitchener |
62.5 |
79.9 |
27.9 |
246.2 |
183.6 |
-25.4 |
| Brantford |
10.0 |
17.2 |
72.0 |
41.6 |
36.3 |
-12.7 |
| Guelph |
32.8 |
22.3 |
-32.1 |
64.1 |
67.7 |
5.6 |
| London |
50.1 |
56.2 |
12.2 |
215.0 |
178.4 |
-17.0 |
| Windsor |
22.0 |
22.9 |
4.2 |
144.0 |
65.2 |
-54.7 |
| Barrie |
14.0 |
34.6 |
146.5 |
123.9 |
63.9 |
-48.5 |
| Greater Sudbury |
6.1 |
14.9 |
144.0 |
16.4 |
131.1 |
698.5 |
| Thunder Bay |
4.2 |
5.9 |
38.7 |
20.0 |
20.3 |
1.8 |
| Winnipeg |
93.1 |
72.2 |
-22.4 |
204.0 |
231.3 |
13.4 |
| Regina |
14.7 |
22.2 |
51.0 |
64.6 |
70.2 |
8.7 |
| Saskatoon |
37.8 |
62.7 |
65.6 |
104.1 |
146.9 |
41.0 |
| Calgary |
343.3 |
569.0 |
65.7 |
1,237.1 |
1,347.6 |
8.9 |
| Edmonton |
283.2 |
329.6 |
16.4 |
751.6 |
961.6 |
27.9 |
| Kelowna |
46.5 |
125.4 |
169.8 |
110.3 |
206.0 |
86.9 |
| Abbotsford |
28.8 |
12.3 |
-57.2 |
139.7 |
90.0 |
-35.5 |
| Vancouver |
435.0 |
525.8 |
20.9 |
1,394.7 |
1,614.2 |
15.7 |
| Victoria |
67.3 |
140.2 |
108.4 |
169.9 |
290.3 |
70.9 |
| r | revised |
| p | preliminary |
| 1. | Go online to view the census subdivisions that comprise the census metropolitan areas. |
| Note: | Data may not add to totals as a result of rounding. |
|
| Value of building permits, by province and territory |
| |
February 2007r |
March 2007p |
February to March 2007 |
January to March 2006 |
January to March 2007 |
January–March 2006 to January–March 2007 |
| |
Seasonally adjusted |
| |
$ millions |
% change |
$ millions |
% change |
| Canada |
4,804.1 |
6,120.7 |
27.4 |
14,764.3 |
17,189.5 |
16.4 |
| Residential |
2,939.0 |
3,691.4 |
25.6 |
9,560.7 |
10,263.1 |
7.3 |
| Non-residential |
1,865.1 |
2,429.3 |
30.2 |
5,203.7 |
6,926.4 |
33.1 |
| Newfoundland and Labrador |
38.2 |
38.5 |
0.7 |
98.2 |
120.2 |
22.4 |
| Residential |
32.8 |
22.7 |
-30.6 |
82.7 |
81.3 |
-1.8 |
| Non-residential |
5.5 |
15.8 |
188.7 |
15.5 |
39.0 |
151.4 |
| Prince Edward Island |
10.7 |
15.5 |
44.9 |
47.0 |
38.3 |
-18.6 |
| Residential |
8.8 |
13.1 |
49.5 |
34.6 |
30.9 |
-10.5 |
| Non-residential |
1.9 |
2.4 |
23.9 |
12.4 |
7.3 |
-41.1 |
| Nova Scotia |
64.0 |
78.2 |
22.1 |
305.5 |
221.2 |
-27.6 |
| Residential |
52.6 |
49.5 |
-5.8 |
231.1 |
160.2 |
-30.7 |
| Non-residential |
11.4 |
28.6 |
150.5 |
74.5 |
60.9 |
-18.1 |
| New Brunswick |
52.2 |
106.9 |
104.8 |
213.4 |
218.2 |
2.2 |
| Residential |
33.1 |
33.8 |
2.0 |
122.7 |
105.8 |
-13.8 |
| Non-residential |
19.1 |
73.1 |
283.4 |
90.7 |
112.4 |
24.0 |
| Quebec |
850.6 |
1,097.6 |
29.0 |
2,700.9 |
2,911.0 |
7.8 |
| Residential |
584.6 |
698.1 |
19.4 |
1,804.2 |
1,916.9 |
6.2 |
| Non-residential |
265.9 |
399.4 |
50.2 |
896.8 |
994.1 |
10.9 |
| Ontario |
1,694.3 |
2,174.3 |
28.3 |
5,307.8 |
6,502.3 |
22.5 |
| Residential |
961.4 |
1,208.7 |
25.7 |
3,330.5 |
3,429.6 |
3.0 |
| Non-residential |
732.9 |
965.6 |
31.7 |
1,977.4 |
3,072.7 |
55.4 |
| Manitoba |
139.9 |
112.0 |
-19.9 |
308.3 |
366.4 |
18.8 |
| Residential |
83.1 |
77.4 |
-6.9 |
199.7 |
238.9 |
19.6 |
| Non-residential |
56.8 |
34.6 |
-39.1 |
108.6 |
127.5 |
17.4 |
| Saskatchewan |
97.2 |
118.8 |
22.2 |
216.6 |
319.1 |
47.3 |
| Residential |
64.2 |
79.1 |
23.3 |
107.8 |
205.0 |
90.1 |
| Non-residential |
33.0 |
39.7 |
20.0 |
108.8 |
114.1 |
4.9 |
| Alberta |
999.7 |
1,291.6 |
29.2 |
2,966.0 |
3,464.9 |
16.8 |
| Residential |
610.3 |
763.7 |
25.1 |
1,941.1 |
2,119.8 |
9.2 |
| Non-residential |
389.3 |
527.9 |
35.6 |
1,024.8 |
1,345.1 |
31.2 |
| British Columbia |
836.9 |
1,050.3 |
25.5 |
2,556.0 |
2,960.7 |
15.8 |
| Residential |
501.8 |
710.5 |
41.6 |
1,693.4 |
1,929.7 |
14.0 |
| Non-residential |
335.1 |
339.8 |
1.4 |
862.6 |
1,031.0 |
19.5 |
| Yukon |
17.2 |
2.1 |
-88.0 |
32.9 |
23.7 |
-27.9 |
| Residential |
3.8 |
2.0 |
-46.6 |
9.6 |
8.5 |
-11.3 |
| Non-residential |
13.4 |
0.0 |
-99.8 |
23.3 |
15.2 |
-34.8 |
| Northwest Territories |
0.9 |
1.5 |
65.2 |
2.5 |
6.5 |
161.9 |
| Residential |
0.2 |
0.6 |
176.8 |
1.8 |
0.9 |
-47.6 |
| Non-residential |
0.7 |
0.9 |
30.3 |
0.7 |
5.6 |
713.0 |
| Nunavut |
2.2 |
33.5 |
1,399.6 |
9.1 |
37.1 |
307.7 |
| Residential |
2.2 |
32.0 |
1,332.4 |
1.5 |
35.6 |
2,273.6 |
| Non-residential |
0.0 |
1.5 |
... |
7.6 |
1.5 |
-79.8 |
| r | revised |
| p | preliminary |
| ... | figures not applicable. |
| Note: | Data may not add to totals as a result of rounding. |
|
Note to readers
Unless otherwise stated, this release presents seasonally adjusted data, which ease comparisons by removing the effects of seasonal variations.
The Building Permits Survey covers 2,380 municipalities representing 95% of the population. It provides an early indication of building activity. The communities representing the other 5% of the population are very small, and their levels of building activity have little impact on the total.
The value of planned construction activities shown in this release excludes engineering projects (e.g., waterworks, sewers or culverts) and land.
For the purpose of this release, the census metropolitan area of Ottawa–Gatineau is divided into two areas: Ottawa–Gatineau (Quebec part) and Ottawa–Gatineau (Ontario part).
|
NEW RECORD SET FOR HOME SALES IN KITCHENER-WATERLOO IN APRIL
KITCHENER – Sales of residential properties in April set a new single month record in Kitchener-Waterloo and area, and surpassed the 700 unit threshold for the first time. There were a total of 708 homes sold last month, the highest single month since sales statistics were first computerized in 1988.
This spike in home sales marks a 27.1 percent increase over April 2006 results and a 15 percent
increase relative to sales recorded in March.
Dollar volume of homes sold in April soared more than 30 percent relative to one year ago, to
$174.6 million.
Last month’s record sales means that total residential sales to date in 2007 are 8.3 percent ahead
of 2006 results for the same period.
Sales of homes selling for more that $175,000 increased more than 36 percent last month.
Homes selling in the $300,000 to $350,000 range experienced the highest increase in April, up
76.3 percent on a year-over-year basis.
While the demand for homes hit new heights last month, price increases were tempered by a
market that had sufficient capacity to accommodate the sales surge. The average sale price of
all homes sold in April was $246,643, a 2.4 percent increase relative to the same month one year
ago. Single family detached homes selling last month increased only marginally to $280,316,
a 0.6 percent increase.
However, the median price of all homes sold experienced a more significant increase, climbing
4.5 percent to $229,900 relative to April 2006 results. Similarly, the median price of single
family detached homes increased almost five percent to $255,000 relative to one year ago.
“Sales hit a new highwater mark in April and set the stage for what should be a particularly
strong spring and summer sales season,” says Tania Benninger, President of the Kitchener-
Waterloo Real Estate Board. “Prospective buyers can take comfort in the fact that, while sales
soared last month, home prices remained relatively stable. The local residential real estate
market has been able to maintain a healthy balance of strong demand without undermining
affordability.”
While consumer demand helped set a sales record last month, the supply of homes for sale in
April approached 2,000 units, almost a five percent increase relative to April 2006. A total of
1,057 new residential listings were processed last month.
Ms. Benninger says the complex market dynamic that resulted in record sales last month makes
a strong case for working with a professional REALTOR® to ensure the best real estate
decisions are made.
Other sales highlights from April include:
• sales of condominiums increased 20 percent, with the average sale price appreciating 14% to
$164,553;
• sales of townhouses are up 60 percent, while the average sale price remained constant;
• sales of semi-detached properties are up 22 percent, with average prices climbing 2.6 percent.
View statistics |
Rowntree Enterprises breaks ground with Toyota Canada Inc. for Lexus on the Park and Toyota on the Park
Project combines dealerships, shops, services and an adult lifestyle
retirement residence in an innovative approach to urban automobile
dealerships
TORONTO - Rowntree Enterprises together with Toyota Canada Inc. broke ground today for Lexus on the Park and Toyota on the Park - the first step in a multi-phase project that will combine the two automobile dealerships with shops, services and an adult lifestyle retirement residence to create a new landmark development in Toronto's first planned community of Don Mills.
The development will renovate a number of the existing structures on the
site of the former Inn on the Park hotel to bring them up to current building
code and environmental best practices. Meanwhile, new buildings and other
features will incorporate stylistic elements and materials from the originals
to pay tribute to the original Inn on the Park design.
"Rowntree Enterprises has been serving Toronto as a member of the Toyota
family since 1979, and when Toyota introduced its luxury brand to Canada in
1990, we were one of the first Lexus dealers in the country," said Bryan
Rowntree, the company's president and CEO. "I'm therefore proud that our
company, with Toyota Canada's support, is creating a new model for the urban
automotive dealership. Lexus on the Park and Toyota on the Park establish a
new benchmark for design, environmental responsibility and integration into
the existing community."
"At Toyota Canada, we place a great deal of importance on kaizen - the
philosophy of continuous improvement - and we have worked hard over the years
to improve our products, our business operations, the environment and the
communities that we share with our customers," explained Yoichi Tomihara,
President and CEO of Toyota Canada Inc. "I am very pleased that the Rowntrees
share this vision. This development is an example of how creative thinking can
evolve the auto dealership into a vibrant part of the urban landscape - one
that will benefit many people in the local community, each and every day."
The multi-phase development includes renovating the old Inn on the Park
ballroom and banquet facilities to bring them up to current building code and
environmental standards. New styling will evoke the original facility while
imparting a fresher, more contemporary feel.
These facilities should re-open to the public by year end - about the
same time as the Lexus on the Park and Toyota on the Park dealerships open for
business. The dealerships will feature the sharp lines, horizontal banding and
cantilevered designs that characterized the style of the original hotel's
architect, Peter Dickinson, and will incorporate fieldstone from the original
structure. As part of this work, the path and stairways from the street will
be rebuilt as well to welcome visitors to the new site.
Meanwhile, work will begin this year on the exterior of a 24-story tower
that will be remodelled as a 126-suite adult lifestyle retirement residence.
This work will include a new roof and windows. Interior remodelling is to
begin by 2008 to bring the suites up to current building code and
environmental standards, and to build a new common room at the top of the
tower with a 360-degree view of the city.
Also starting next year, work will begin on a new complex attached to the
retirement residence, featuring a health club, spa, and approximately 40,000
sq-ft of flexible retail space. Negotiations are currently underway with a
number of potential tenants, including coffee shops and clothing stores. This
phase will also include redevelopment of the courtyard - a space, to feature
trees, shrubs and a reflecting pool reminiscent of the original hotel's
outdoor swimming pool.
|
GTA's best builders, communities and design honoured
TORONTO - The year's most outstanding builders, communities, building design and people were honoured at the 27th annual home builder awards presented by the Greater Toronto Home Builders' Association - Urban Development Institute and attended by more than 900 home builders, developers and associate members.
Mattamy Homes garnered the home builder of the year award - becoming only
the second builder to win this award twice. This prestigious award goes to the
builder who sets the standard for the rest of the industry in terms of
quality, service and customer commitment. An independent survey of all home
builder of the year finalists' homeowners is a key component of the judging
process (see separate news release).
Mattamy Homes also took home awards for best community development -
low-rise for Hawthorne Village in Milton and best townhome design under 1,500
sq. ft. for Summerside in Scarborough.
The inaugural green builder of the year awards went to Tridel Corporation
(high-rise) and Mason Homes (low-rise) for pioneering work in
environmentally-friendly development (see separate news release).
TAS Design Build's M5V condominium won the award for best community
development (high-rise) as well as and best building design, best suite design
over 1,500 sq. ft. and best high-rise sales office over 1,800 sq. ft. The TAS
team included 52 Pick-up, The Communications Group and Core Architects.
Rivertowne, part of the revitalization of Toronto's Regent Park, earned
Intracorp Projects Ltd. four low-rise awards including project of the year,
best sales office under 1,800 sq. ft, best marketing campaign and best project
logo, along with agencies BAM Builder Advertising & Marketing and Guidelines
Advertising and architects Kearns Mancini Architects/Montgomery Sisam
Architects.
Project of the year - high-rise was awarded to 550 Wellington West Hotel
and Condos, located in Toronto's fashion district. 550 Wellington also
garnered the award for best brochure - high-rise and best magazine ad -
high-rise with agency L.A. Inc.
Other big award winners included Baywood Homes with agency Montana
Steele, who claimed four high-rise awards for The Bohemian Embassy: best
direct mail; best newspaper ad; best project signage; and best marketing
campaign.
Berkley Homes with RN Design took best new home design, single over 2,000
sq. ft and single over 3,000 sq. ft. for The Estates of Gordon Woods and best
townhome design over 1,500 sq. ft. for Brownstone Lane. RN Design scored three
additional design awards with clients Eden Oak, Cachet Estates and Emery
Homes.
Great Gulf Homes also captured three awards winning best model suite,
best suite design under 750 sq. ft and over 750 sq. ft. for X The Condominium
Advertising guru Lawrence Ayliffe was the recipient of the Riley Brethour
award bestowed for outstanding and consistent professional achievement in
residential sales and marketing. Ayliffe has been involved in marketing more
than 75,000 homes and condos in over 300 projects in his 30 year career.
Other award winning new homes sales and marketing people were Jenny Pan
and Shawn Richardson from broker PMA Brethour for eko Markham Centre by
Liberty Development Corporation, Shannon McGee and Nick Hill from Norman Hill
Realty Inc. for Hawthorne Village and Hawthorne Village on the Escarpment by
Mattamy Homes North Halton Division and the Monarch sales and marketing team.
With more than 1,500 members, GTHBA-UDI, formed through the merger of the
Greater Toronto Home Builders' Association and Urban Development
Institute/Ontario is the voice of the residential land development, home
building and professional renovation industry in the Greater Toronto Area. We
are proudly affiliated with the Ontario and Canadian Home Builders'
Associations.
|
KITCHENERS CANADA CORDAGE BUILDING SOLD TO SELF-STORAGE COMPANY
KITCHENER - Peter Benninger and Joe Benninger of Coldwell Banker Peter Benninger Realty are pleased to announce the sale of 50 Ottawa Street South in Kitchener, a 193,000 sq. ft. manufacturing facility for $2,600,000 to Access Property Developments Inc. (operating as Access Storage).
The manufacturing site has been home to Canada Cordage (formerly Doon Twines) for nearly 90 years and the company will continue to occupy a substantial section of the building. The new building owner, Access Storage is a Canadian owned and operated property development Company with over 1,000,000 sq. ft of real estate space in locations throughout Southwestern, Ontario.
By late summer Access Storage plans to be using 30,000 sq. ft of the building for its self-storage and commercial businesses and will renovate and lease the remaining space. By converting the space into new office, commercial and industrial units, Access Storage plans to inject new business opportunities into the area. Plans for the property include making improvements to the exterior and renovating the interior that will renew and invigorate the industrial downtown area of Kitchener.
The Waterloo Region has long been an attractive expansion locale for Access as several of the owners have personal ties to the community. Senior Partner, Tom Allen is a Wilfrid Laurier University Alumnus and former athlete who is a dedicated fundraiser for the Golden Hawks football program. In addition, Junior Partner and Company’s Controller, Iqbal Khan is a graduate of the University of Waterloo. Company President Steven Scott says “We are very excited to be coming to Kitchener and look forward to rejuvenating this landmark site. We chose to invest in this community because of its diverse and vibrant economy. The location of the building is nicely situated with its close proximity to the downtown and we are very encouraged by the possibility of being served by the Light Rail Transit in the future”.
|
Specialized design and Landscape services increase in 2005
Specialized design and landscape architecture firms generated $2.6 billion in operating revenues in 2005, up 5% from the previous year.
Operating revenues earned by firms in Western Canada grew at a much higher rate than those in the rest of the country.
The operating profit margin for the industry, at 11.3%, was relatively unchanged from the previous year.
Revenue growth was particularly strong in Alberta (up 18%) and British Columbia (up 14%), in sharp contrast with Ontario (up 2%). More than half of the industry's operating revenues were earned in Ontario (55%), followed by Quebec (21%), British Columbia (12%), and Alberta (9%).
Of the five sub-industries covered by the survey, landscape architecture (+12%) and interior design (+10%) led the way in terms of operating revenue growth rate in 2005. These industries benefited from strong building construction activity, particularly in the West. Graphic design recorded the lowest revenue growth rate (+2%).
Firms in graphic design represented nearly half of all specialized design services total operating revenues (49%). Interior design firms generated another 27% and the remaining quarter came from industrial design (9%), landscape architecture (9%), and other design services (6%).
Canadian businesses are the primary customers for specialized design services, generating 70% of the operating revenues. Canadian households were the source of another 13% of the revenues. Exports accounted for 11% of revenues, up from 8% in the previous year. Overall, four out of every five export dollars came from the United States.
The industry's concentration remained relatively low, as the 20 largest firms earned less than one-tenth of the industry's revenues. The industry is primarily comprised of very small firms. Business units providing specialized design services numbered 12,700 in 2005, down from 12,900 the previous year.
|
Kitchener’s brownfield revitalization trend continues with The inTowns
KITCHENER - Coldwell Banker Peter Benninger Realty is pleased to announce that Kitchener’s brownfield revitalization trend continues with the intowns a 128 unit townhouse and live/work community being developed by the Hallstone Group of Companies in one of the City’s central neigbourhoods.
The units, priced in the mid $200’s are located beside Woodside Park at Highland Road, Woodside Avenue and Queen Street, on the former Canada Blower and Forge site, in what is known as the Mill Courtland Woodside Park community.
“The intowns is a very unique and wonderfully designed project that we are proud to be involved in.” said Tim Ingold, Sales Manager for the site, and Broker at Coldwell Banker Peter Benninger Realty. Ingold describes the intowns as “the perfect example of what makes infill developments so attractive to a growing number of today’s homebuyers. When people move into one of these units they will have an instant community located within an already vibrant neighborhood, surrounded by parks and trails and easy access to downtown. Sites like this don’t come along everyday.”
On Tuesday May 1st at 7pm a sneak preview event will be held at Coldwell Banker Peter Benninger Realty located at 508 Riverbend Drive, Kitchener. Registration is required and can be made by calling 519-650-6000 or visiting www.intowns.ca. Attendees will have the opportunity to reserve a unit with $1000 deposit fee.
|
Eastforest Homes is Going Blu! - University Meadows Development Builds With BluWood
Kitchener, Ontario - Eastforest Homes is proud to announce the showcasing of BluWood lumber in the Kitchener-Waterloo, Paris and Brantford area. Bluwood is a revolutionary new wood coating system that addresses the trend of builder tighter houses to save energy and ensure better air quality.
“As the first developer in Kitchener\Waterloo to offer this product in the housing market, Eastforest Homes prides itself on speaking to the needs of their customers. Dedicated to using state-of-the-art technology, Eastforest Homes is on the cutting edge of offering customers the building industry’s most innovative, safe, and environmentally-safe products” says Eva Munch from Eastforest Homes.
With environmental concerns topping the list with Canadian consumers, Eastforest Homes is now building more energy efficient homes. In turn, this ensures better internal air quality for the homeowner, and addresses the environmental issues.
“In today’s building environment, BluWood is fast becoming the industry standard. The building industry needs to address the list of growing concerns when it comes to your family, your health and your home: BluWood is the answer” says David Gray of BluWood Canada. The BluWood process is ideal when builders want to close their homes up tighter because there is a higher chance of mould intrusion when building tighter due to less ventilation. BluWood acts as a defense mechanism to stop mould and fungus growth before it even begins.
There will be a launch at University Meadows in Kitchener on Friday, April 27th 2007 from 11am to 2pm. Speakers will include Craig McLean of Eastforest Homes, Mark Foster of BluWood Canada, and Corrado Distefano of Alpa Lumber. There will also be a tour of the two model homes and a question period followed by a BBQ lunch.
Eastforest Homes Ltd. is the largest builder in the Kitchener\Waterloo area, and has received the ‘Excellent Rating’ from the Ontario New Home Warranty Program for the past seven years. By offering BluWood as an upgrade in their new developments, Eastforest Homes is dedicated to providing the best value for their customers. Having been voted favorite builder for the past two years, Eastforest Homes continues to prove that they are leading the way in building Kitchener and Waterloo’s best homes.
|
CIBC World Markets predicts Canadian house prices will double in the next 20 years
- Fears of a decline sparked by demographics greatly exaggerated -
TORONTO - Canadian house prices are likely to double in the next 20 years, according to a CIBC World Markets report released today, entitled "Much Ado About Nothing: Canadian House Prices Not Based on Demographics Alone."
"Despite downward pressure from demographic forces, on average, we expect
house prices in Canada to double in the next 20 years," says Benjamin Tal,
Senior Economist, CIBC World Markets. "Fears of a decline resulting from the
downsizing and increased liquidations of houses by seniors and the falling
number of first time buyers are highly exaggerated."
The CIBC report compares population growth between two cycles of housing
prices, from 1987 to 2006 and from 2007 to 2026, using Statistics Canada's
medium-growth, medium-immigration projection as a benchmark.
Between 2007 and 2026, the projected 167,000 net decline in the number of
first time buyers (Canadians between the ages of 25 and 44) is marginal, at
best, Mr. Tal said. Since this age group is by far the largest contributor to
overall housing demand, accounting for almost 68 per cent of all home sales,
this relatively modest downturn will not significantly impact housing demand.
The largest decline (2.5 million) is projected for the 45 to 54 age
group, as many baby boomers move to the next age bracket. The impact of this
change is also expected to be limited, given that the 45 to 54 age group
accounts for only 12 per cent of total housing demand. In fact, this moderate
decline in housing demand will be partly offset by the strong increase in the
age group 55 to 74 and its surprisingly high housing market activity - largely
reflecting purchases of vacation and investment properties.
"We estimate that in the coming twenty years, the Canadian housing market
will face extra supply of roughly 250,000 houses," adds Tal. "While at first
glance this appears to be a large number, it means an average extra supply of
only 12,500 homes a year during that period."
Considering that total housing starts during the previous cycle averaged
180,000 per year, builders will only have to reduce new supply to just under
170,000 to completely eliminate any negative demographic influence on house
prices compared to the previous cycle.
Concerns regarding the impact of demographic forces on the Canadian
housing market were first raised in the late 1980s. However, during the twenty
year period from 1987 to 2007, Canada experienced a three per cent annual
increase in real home prices.
Although housing market activity in the coming 20 years will fluctuate,
CIBC projects that the average real house price will mirror the performance of
the past two decades.
"Assuming a two per cent annual inflation rate, this means that house
prices in Canada are expected to double by 2026," said Mr. Tal. "This
increase, of course, will not be symmetrical - with large cities seeing even
larger increases in home valuations."
|
Investment in non-residential building construction First quarter 2007 - Kitchener CMA still howling with the big dogs
Heavy spending on office buildings in Alberta and British Columbia pushed investment in non-residential building construction to another record high in the first three months of 2007.
First-quarter investment hit $9.4 billion, up 3.3% from the fourth quarter and the 16th consecutive quarterly increase.
In constant dollars, investment in non-residential building construction increased 0.8% from the fourth quarter.
Investment increased in all three components from the fourth quarter. In the commercial sector, it rose 5.0% to $5.6 billion; in the institutional sector, it went up 1.3% to $2.3 billion; in the industrial sector, it edged up 0.2% to $1.4 billion.
Provincially, by far the biggest first-quarter increase (in dollars) occurred in Alberta where investment rose 11.8% to $2.1 billion, a 12th straight quarterly gain. In British Columbia, which was a distant second, investment increased 5.7% to $1.4 billion.
In contrast, Nova Scotia posted the biggest drop (in dollars) after registering strong growth in the previous two quarters.
Western Canada's dynamic economy continued to spark the non-residential sector. Other contributing factors included a strong labour market, strong consumer demand for durable goods and declining vacancy rates in large urban centres, which provided added incentive for office building construction.
Locally, 20 of the 34 census metropolitan areas recorded gains, with the strongest increase (in dollars) in Calgary, where investment rose 20.8% to $985 million. In contrast, Hamilton posted the biggest decline (in dollars).
Based on intentions collected in the third quarter of 2006, Statistics Canada's Survey of Private and Public Investment for 2007 forecasted a 5.8% increase in construction investment, including engineering construction.
| Investment in non-residential building construction, by census metropolitan area1 |
| |
First quarter 2006 |
Fourth quarter 2006 |
First quarter 2007 |
Fourth quarter 2006 to first quarter 2007 |
| |
Seasonally adjusted |
| |
$ millions |
% change |
| St. John's |
65 |
52 |
55 |
5.2 |
| Halifax |
120 |
167 |
157 |
-5.9 |
| Moncton |
4 |
48 |
57 |
19.2 |
| Saint John |
25 |
25 |
30 |
20.6 |
| Saguenay |
33 |
35 |
35 |
1.9 |
| Québec |
173 |
155 |
162 |
4.5 |
| Sherbrooke |
29 |
43 |
40 |
-5.7 |
| Trois-Rivières |
34 |
36 |
43 |
16.9 |
| Montréal |
702 |
696 |
717 |
3.0 |
| Ottawa–Gatineau, Ontario/Quebec |
374 |
410 |
407 |
-0.8 |
| Ottawa–Gatineau (Que. part) |
57 |
39 |
40 |
1.9 |
| Ottawa–Gatineau (Ont. part) |
318 |
371 |
367 |
-1.1 |
| Kingston |
31 |
33 |
40 |
20.3 |
| Peterborough |
2 |
17 |
14 |
-13.8 |
| Oshawa |
107 |
91 |
90 |
-1.2 |
| Toronto |
1,623 |
1,511 |
1,505 |
-0.4 |
| Hamilton |
154 |
148 |
134 |
-9.1 |
| St. Catharines–Niagara |
58 |
74 |
69 |
-7.0 |
| Kitchener |
131 |
120 |
128 |
7.1 |
| Brantford |
2 |
28 |
36 |
31.3 |
| Guelph |
4 |
49 |
45 |
-7.3 |
| London |
118 |
105 |
102 |
-3.3 |
| Windsor |
91 |
77 |
83 |
7.5 |
| Barrie |
4 |
63 |
63 |
0.3 |
| Greater Sudbury |
28 |
33 |
42 |
27.2 |
| Thunder Bay |
30 |
21 |
22 |
8.0 |
| Winnipeg |
212 |
227 |
221 |
-2.7 |
| Regina |
75 |
87 |
79 |
-8.2 |
| Saskatoon |
86 |
117 |
111 |
-4.6 |
| Calgary |
531 |
815 |
985 |
20.8 |
| Edmonton |
427 |
415 |
451 |
8.6 |
| Kelowna |
4 |
43 |
44 |
4.5 |
| Abbotsford |
46 |
75 |
81 |
7.5 |
| Vancouver |
673 |
725 |
771 |
6.3 |
| Victoria |
72 |
94 |
90 |
-4.0 |
| 1. | Go online to view the census subdivisions that comprise the census metropolitan areas. |
|
Commercial: Robust office activity in Alberta and British Columbia
Investment in commercial building construction increased for the 14th quarter in a row, in the wake of robust activity in office building construction sites in Alberta and British Columbia.
Overall, seven provinces showed increases in commercial investment in the first quarter. The largest contributions (in dollars) occurred in Alberta (+16.0% to $1.4 billion) and in British Columbia (+5.2% to $854 million). Both amounts are all-time highs.
After two consecutive quarterly increases, Saskatchewan recorded the most significant decline, due of a downturn in investment in office and shopping centres buildings.
Among census metropolitan areas, 20 of the 34 areas posted first-quarter gains. Commercial investment in Calgary rose 21.0% to $670 million, while Saskatoon posted the largest decline (-15.3% to $52 million).
A decline in vacancy rates in the major urban centres continued to put positive pressure on office building construction. In addition, growth in retail and wholesale trade in 2006 appears to have had a favourable impact on the construction of warehouses, which posted a gain for the seventh straight quarter.
Spending on industrial construction remains stable
First-quarter industrial investment remained virtually unchanged, rising only 0.2% to $1.4 billion. Strong spending on construction of manufacturing, processing and assembly plants in Ontario and Quebec more than offset drops in the other industrial categories.
After two consecutive quarterly declines, Ontario registered the biggest growth (in dollars), a 5.0% gain to $445 million.
Overall, six provinces showed declines in industrial investment. The largest drop (in dollars) occurred in Saskatchewan, which had posted two consecutive quarterly increases in the third and the fourth quarter of 2006.
Of the 34 census metropolitan areas, 20 registered quarterly growth. Vancouver showed the strongest investment growth (+22.7% to $43 million). Regina experienced the largest decline (-62.5% to $8 million) after hitting a record high in the fourth quarter.
Institutional: Slight rebound halts two quarterly declines
Following two quarterly declines, spending in the institutional component saw a slight rebound of 1.3% to $2.3 billion in first quarter. A decline in educational facilities partially offset gains in all other institutional categories.
Provincially, by far the biggest first-quarter increase in terms of dollar value occurred in Alberta, where investment rose 14.2% to $427 million. In Saskatchewan, which was a distant second, institutional investment increased 17.0% to $89 million. Both provincial levels are record highs.
In contrast, Ontario saw investment fall 3.3% to $899 million, the result of a decline of investment in educational buildings.
Among metropolitan areas, Calgary led first-quarter growth, with investments rising 26.0% to $247 million. The gain was driven by substantial investments in health care and educational facilities.
In Toronto, which experienced the most significant decline, institutional building investment fell 7.7% to $310 million. Of the 34 census metropolitan areas, 18 posted decreases.
| Investment in non-residential building construction |
| |
First quarter 2006 |
Fourth quarter 2006 |
First quarter 2007 |
Fourth quarter 2006 to first quarter 2007 |
| |
Seasonally adjusted |
| |
$ millions |
| | |
