Burlington and Hamilton mountain hottest for real estate in the region in 2019 - Global News - Canada News Media
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Burlington and Hamilton mountain hottest for real estate in the region in 2019 – Global News

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Last year was a seller’s market in the Hamilton and Burlington area.

That’s according to the Realtors Association of Hamilton-Burlington (RAHB), which reports 12,866 home sales in 2019 — up 10.1 per cent over 2018, despite new residential listings being slightly down compared to that year.

The average cost of a home was $587,745, and while that’s only a 4.9 per cent increase compared to the previous year, it’s a whopping 95.3 per cent higher than the average price a decade ago.


READ MORE:
Housing market cools in Hamilton, Burlington in December 2019: realtors association

“The RAHB residential market has balanced out from the high activity experienced in 2016 and 2017,” said RAHB CEO Carol Ann Burrell in a release. “However, increases in average price and number of sales, paired with a decrease in new listings, indicates that 2019 favoured sellers more than in 2018.”

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The most homes in Hamilton were sold on the mountain last year — with 2,043 sales in that area — although Stoney Creek and Ancaster saw the highest jump in sales over 2018 at 16.6 per cent.

Ancaster also had the highest average home price at $772,811.

Burlington saw the most activity overall, with 3,086 sales and an average price of $755,639.


READ MORE:
Hamilton city councillors pitch vacant home tax in hopes of freeing up supply

It was good news for those selling single-family homes, as sales of those types of properties increase across the entire region — although the highest increase happened in Hamilton.

“The clear trend for 2018 was that apartment-style and townhomes outperformed detached properties,” said RAHB President Kathy Della-Nebia in a release. “This year we see that these types of properties are still performing well; however, buyers choosing detached homes are trending upward yet again.”

Overall, the total volume of sales across the region was $7,897,509,003 — up nearly $1 billion from 2018.

© 2020 Global News, a division of Corus Entertainment Inc.

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The flaw in Trump and Kushner's 'real estate' school of diplomacy – CNN

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US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu both have strong political reasons to use their “deal of the century” to distract from their parlous domestic plights, and as a tool in looming elections. But unlike the ceremony nearly 30 years ago that enshrined the land-for-peace era of Middle East diplomacy that the two leaders are now closing, there was a party missing at the White House on Tuesday — the Palestinians.
The Trump plan is really neither a deal nor a peace blueprint: It strongly favors Israel and would force Palestinians to cede their aspirations for a state in the West Bank and Gaza drawn around Israeli settlements patched together by bridges and tunnels. The plan’s major historic contribution seems to be to clear the way for Israel to annex lands long-considered illegally occupied by the UN and international community, and to align US policy closer than ever before to the most right-wing influences in Israeli politics.
Masterminded by Jared Kushner, it is another example of the real estate school of diplomacy that he and his father-in-law — both property magnates — keep trying to apply to the most nettlesome global disputes.
A similar approach to a “deal” has been tried unsuccessfully with Iran and North Korea. It involves the US adversary agreeing to a set of conditions — on missiles, nuclear weapons, or Jerusalem, for instance — that would signify near total capitulation. In return, the other side gets the promise of a massive cash infusion.
When he first met the young North Korean leader Kim Jong Un, Trump showed him a corporate-style sales video of gleaming skyscapes — offering real estate development fantasies in exchange for North Korea’s nuclear arsenal.
On Tuesday, the President promised Palestinians $50 billion in investment. “Much-needed hope, joy, opportunity and prosperity will finally arrive for the Palestinian people” if they sign his deal, he promised.
But the Palestinians are not buying it — pointing to the flaw in Trump’s method of putting potential riches before principle. “All our rights are not for sale,” Palestinian leader Mahmoud Abbas said.

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Edmonton warehouse to become new strata industrial hub – Real Estate News EXchange

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The IntraUrban Davies Station redevelopment will be a small-bay industrial strata facility in South Edmonton. (Courtesy PC Urban)

PC Urban plans to take an unused 100,000-square-foot warehouse in South Edmonton and redevelop it into its eighth IntraUrban small-bay, strata business hub.

The redevelopment at 6008 75 St. NW will create 13 commercial condo properties for the area’s small- to medium-sized businesses. When work begins at the site in May, PC Urban plans to strip the existing building down to its walls and roofs and completely “reimagine” the facility.

“We are transforming an under-utilized, dormant property into a new business hub in an up-and-coming area of Edmonton,” said Brent Sawchyn, the CEO of PC Urban Properties, in a release. “This is an area on an upward trajectory and businesses that become part of the evolution will share in its success.

“IntraUrban Davies Station is a rare ownership opportunity in a core location.” 

The company plans to have units available for occupancy before the end of 2020.

About IntraUrban Davies Station

The development is in close proximity to transit and amenities for both customers and employees, and will build on an established industrial and commercial sector in the area. The south industrial district is already home to leading brands such as BMW, BMO and Ledcor Industries.

“We are very excited to see this warehouse transformation development at the Davies Station on the Valley Line LRT coming to market,” said Guy Boston, Edmonton’s transit-oriented development manager, in the release.

“The city’s investment in this LRT line was not only focused on moving people, but it was also intended to spur on this type of development.”

The facility will accommodate unit sizes from 5,300 to 12,400 square feet. The ability to combine these configurations will offer condo opportunities at a more affordable scale than previously available in this area.

Industrial business zoning at the property permits a wide variety of retail and industrial uses, including home improvement outlets, breweries, bars, warehouse sales, light distribution, restaurants, personal service shops, indoor recreation services and much more.

All units will have grade loading capabilities and larger units will feature both grade and dock level loading.

The building will offer 22-foot ceiling heights and high efficiency lighting and will be fully sprinklered and include features such as new glazed storefronts, glass overhead doors and rough-in service for washrooms on the main floor. 

Prices will start at $220 per square foot. 

“Strong” strata pre-sales

“The whole area of South Edmonton is now on the cusp of being reinvigorated and we’re thrilled PC Urban is coming in and investing in the region as we think it will be one of many investments in that part of the city to come,” said Malcolm Bruce, CEO of Edmonton Global, in the release.

“This area is predominantly older, leased industrial spaces and these new business condos available for purchase will add different options for small and medium businesses who want to stake a claim to their own space.”

Avison Young principal Thomas Ashcroft said continued low mortgage rates and relatively low industrial vacancy rates (below six per cent) mean businesses are more inclined to take advantage of the opportunity to buy their own space.

“There are a lot of industrial and retail businesses that want to shift to ownership and this allows them to buy property in an area they couldn’t otherwise find or afford,” Ashcroft said in the release. “Industrial strata is an emerging market in Edmonton because of the benefits of owning versus leasing.

“We’ve seen strong pre-sales with industrial strata projects, which is not typical in our market, and it is motivating business owners who are eager to buy in great locations like this one.”

IntraUrban Davies Station will be the eighth industrial condo project for PC Urban Properties. Its industrial condo developments in Vancouver, Richmond and Burnaby have consistently sold out before construction completion.

About PC Urban

PC Urban is a Vancouver-based real estate development and investment company specializing in re-imagining commercial and residential properties. It has successfully re-imagined real estate projects across all asset classes – retail, office, industrial and multifamily.

Examples include the reimagining of a heritage industrial building in Mt. Pleasant and industrial condo developments in Vancouver, Kelowna and Calgary.

The company has more than 750,000 square feet of commercial and retail under construction, and 440 residential units, across Western Canada.

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Technology, data, starting to transform commercial real estate: survey – CityNews Edmonton

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TORONTO — A new report says technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions and take on more complex projects.

Toronto-based Altus Group says a majority of 400 global commercial real estate executives surveyed are now seeing the disruptive impact of technology on the property sector for the first time in the five years the real estate group has been conducting the survey.

Altus CEO Bob Courteau says executives are starting to see that data, innovation and technology are going to be critical going forward, after some reluctance in the past to invest in areas beyond the bricks and mortar of real estate.

The change is clear at the executive level, where 80 per cent of firms said they have a chief data officer or equivalent senior executive, compared with only 44 per cent four years ago.

The increased data and efficiencies brought on by technology are allowing real estate firms to expand into growing spaces such as multi-family co-living, a sort of dorm-style arrangement with small private bedrooms and shared living and kitchen space, as well as co-working space and new models for retail.

Altus says a wave of investment in startups focused on real estate tech, or proptech, has created a huge number of players and the sector is ripe for consolidation.

This report by The Canadian Press was first published Jan. 27, 2020.

The Canadian Press

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