Virtually Toronto Real Estate: News and Information
for Sept. 2003
TODAY'S TOPICS
-Toronto Real Estate Board 'MarketWatch'
September 2003
-Canadian Homeowners Could Get
Up To $1,000 For Energy Efficient Renovations
-Canada: A Nation On The Move
-Royal Ontario Museum (ROM)
-MARKET WATCH-SEPTEMBER 2003-
Another Record Set in August
The Toronto resale home market continued its winning ways in
August,
chalking up 6,549 sales, the best-ever figure for that month
ever recorded,
TREB President Cynthia Lai announced today. "Sales were
up 12 per cent
from the 5,845 figure of August 2001, which was our previous
record, and
up 21 per cent from last August. With 22,666 sales in the past
three months
we are on pace for our best summer market ever and a record-breaking
year."
Prices continued to decline in August, down another one per
cent to $285,772
from the $289,880. "Even though sales have surged in the
second half of the
year, prices have begun to moderate," noted Ms. Lai. "This
is because we
have a fairly healthy supply of inventory. The 19,134 active
listing figure is
up 16 per cent from the 16, 535 number recorded in August of
2002."
Breaking down the total, 2,401 sales were reported in TREB's
28 West
districts and averaged $265,244; 1,062 sales were reported in
the 14 Central
districts and averaged $368,473; 1,388 sales were reported in
the 23 North
districts and averaged $317,050; and 1,698 sales were reported
in TREB's
21 East districts and averaged $235,941.
TREB Market Watch (September 2003)
-CANADIAN HOMEOWNERS COULD GET UP TO $1,000
FOR ENERGY EFFICIENT RENOVATIONS-
Canadians who improve the energy efficiency of their homes could
get as
much as $1,000 from the federal government, under a new program
announced
Tuesday by Prime Minister Jean Chretien. "Canada's approach
to reducing
greenhouse gas emissions is to think long-term and act short-term,"
says
Chretien. The money is part of Canada's plan to reduce greenhouse
gas
emissions to an average of six per cent below 1990 levels during
the
period 2008-2112.
Money allocated for "individual Canadians" to encourage
them to make
their homes more energy efficient is pegged at $1.34 million.
The grant
program will be administered by the Office of Energy Efficiency,
a subsidiary
of Natural Resources Canada (NRCan). An official launch date
has
yet to be announced, but it's expected this fall.
To be eligible for the grant, you must own and live in the
house being
retrofitted. Before any work is done, the home must be assessed
and rated
by a licensed EnerGuide for Houses advisor. The advisor creates
a report
that recommends energy upgrades, and the house is given an EnerGuide
rating. This rating is like the energy ratings given to new
appliances. The
cost of the assessment ranges from $225 to $325, but the
government subsidizes this cost by $150 per house.
After the renovations have been completed, the energy advisor
comes back
and analyses the house again, giving it a new energy rating.
The difference
between the first and second ratings determines how much grant
money is
provided. NRCan says, "The average Canadian home rates
a 62 on the
EnerGuide for Houses scale and has the potential to improve
to a rating
of 73. As an example, improving the house's energy efficiency
by this
amount could result in a grant of approximately $619.
NRCan says that not all upgrades generate the same energy savings.
For
example, it says replacing an old furnace with a new energy-efficient
unit
will save more energy than replacing the home's windows. But
any retrofits
that improve the overall rating of the home will qualify for
the grant.
For homeowners, the biggest benefits of the program are that
they'll save
on home heating costs and improve home comfort, and that they
will
receive "unbiased expert advice about energy efficiency
retrofits as part
of the retrofit-planning process," says NRCan.
But not everyone thinks the program is a good idea. Tony Woods,
president
of Canam Building Envelope Specialists in Mississauga, Ont.,
says
past government subsidy programs have had some serious shortcomings.
"It may seem impossible, but you can actually spend $1,000
making
your home more energy-efficient and end up with a rotten roof,
serious
health problems associated with mould and mildew, and even higher
energy bills," Wood says.
"Heat, air and moisture travel in, through, and out of
the house in so many
different ways. Understanding how these factors relate with
each other and
knowing how to integrate measures to reduce their negative effects
is all part
of the house-as-a-system approach."
He says previous homeowner energy efficiency subsidies were
created with
good intentions, but failed because of a lack of technical expertise.
"The program must ensure that only accredited contractors
can do the
subsidized work, and it must set standards for materials to
be used," he
says.
Although there are no regulations governing who must do the
renovation
work or what specific building materials are to be used, NRCan
says its energy
advisors have the authority to refuse to rate the house if the
advisor "sees
factors that in his or her opinion suggest the structure of
the house may be
unsafe, or that may affect the health of occupants."
Applications for grants must be made through local EnerGuide
for Houses
delivery agents. A list of eligible agents is available on the
website or
by calling toll-free 1-800-387-2000.
(realty times)
-CANADA: A NATION ON THE MOVE-
Statistics Canada describes this country as "a nation on
the move."
According to the most recent Census, four in 10 Canadians picked
up
and moved between 1996 and 2001. Research shows Canadians are
still
heading west, but stopping at the Rockies. Young adults continue
to
flock to large metropolitan areas while those over 65 leave
urban areas
for smaller cities or rural locations.
Although 11,710,300 individuals aged five and over changed
addresses
during the five-year period between 1996 and 2001, the overall
rate at
which Canada's population moved declined to its lowest level
in more
than two decades.
Movers represented 41.9% of the total population aged five
and over in 2001,
down from 43.3% in 1996 and down sharply from 46.7% in 1991.
Statistics
Canada analysts credit this decline to growth in the older population
who
have tended to move less than young adults.
Almost half of the moves were short-distance transplants within
the same
municipality. About 12.8% of movers uprooted to another municipality
inside the same province. Only about 905,700, or almost 3.2%,
moved from
one province or territory to another and only a fraction of
those
Canadians were over age 65.
Statistics Canada analysts see the decline in mobility beyond
age 25 as a
reflection of the aging of children in a family and their enrolment
in school.
Compared to 50% of the population aged 15 to 29 moving between
1996 and
2001 and about 5% leaving their province, only 27 % of adults
aged 45 to 64
changed addresses and only 2.0% changed province or territory.
Similarly,
among adults aged 65 and over, only 18.3% changed addresses
while 1.2%
changed province or territory.
Moving involves more than a change of address. Whether you
live in a house,
semi, condominium, apartment or any other type of housing, your
home:
Is a symbol of your independence and autonomy Fulfils many
of your
emotional, spiritual and social needs Is at the center of the
community
that supports your lifestyle Affects your financial and physical
well-being
Allows control over your life and relationships
Although individual circumstances vary, once the kids leave
home and career
moves are no longer the driving force behind relocation, people
move for one
or more of the following-- usually unanticipated--reasons:
1.Costly home repairs, renovations or modernizations become
necessary.
2.Changes in personal mobility of one or both spouses.
3.Altered requirements for accommodation which make the home
too big or
too small for family needs or obligations.
4.Increased financial stresses which may include increased property
taxes
or decreased income.
5. Dramatic changes in personal relationships including divorce,
remarriage
or severe illness or death of a spouse.
6.Increased availability of housing alternatives in the desired
neighborhood.
7.New lifestyle interests which make another location more attractive
or a
different type of housing more suitable.
Reviewing this list and preparing "What if" back-up
plans may help your moves
become voluntary changes not forced relocations. When and if
you do decide
to move, be sure that this is the best way to preserve or improve
your standard of
living, and to maintain your independence.
(realty times)
-ROYAL ONTARIO MUSEUM (ROM)-
Experience the wonders of the ROM with family and friends. Learn
about the
exciting transformation and expansion project, Renaissance ROM
, which
will provide for the Museum’s continued growth and vitality.
http://www.rom.on.ca
