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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'Proptech' is finally disrupting the world of commercial real estate – BNNBloomberg.ca

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Technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions, respond quicker to consumer trends, and take on more complex projects, says consultancy Altus Group.

The Toronto-based real estate firm said Monday that for the first time, a majority of 400 global commercial real estate executives polled said they are seeing the disruptive impact of technology on the sector.

The shift comes as the wave of investment and startups in recent years are starting to show results and shift perspectives, said Altus CEO Bob Courteau.

“There’s a bunch of really aggressive companies that came in to real estate globally, and they came in with a whole different view of the importance of data and technology.”

New companies, and new executives at existing ones, have caused a significant shift in thinking on the role in technology in the space, he said.

“The orientation of the management teams of historical commercial real estate was to put their investments in the ground, not into things like data and technology.”

The change is stark at the executive level, where 80 per cent of 350 firms surveyed now say they have a chief data officer or equivalent senior executive, compared with only 44 per cent four years ago.

“The last couple or three (years) has seen an explosion in change,” said Courteau.

WeWork may be the most well-known company in the space, but new entrants number in the thousands, by some estimates.

Real Estate giant Brookfield Asset Management, through their venture arm Brookfield Technology Partners, has recently invested in companies such as leasing software provider VTS, automated door hardware provider Latch, and contractor software provider Building Connect.

Meanwhile, real estate service provider Jones Lang LaSalle IP, Inc. launched a US$100 million venture fund in 2018 to invest in the property technology, or “proptech” space, joining an increasingly crowded field.

In Canada, the tech sector has seen numerous startups enter the space including Yuhu, which offers software for building managers, Breather, an on-demand office space provider, Lane, a mobile-focused tool for tenants, and MapYourProperty, which provides analytics for land development.

Early proptech entrants were focused more on efficiencies, like lower energy costs or automating repetitive tasks, but with the wealth of data available there’s the potential to improve future planning and tackle some of the more difficult decisions, said Courteau.

“What am I going to build, what’s the cost to build, what are the consumer trends, what are the upcoming neighbourhoods, how do I create a mixed environment…this is a data rich environment that can have a significant impact on the value of this new building that you’re about to build.”

The survey noted that technology has enabled numerous disruptive trends including multi-family co-living, a sort of dorm-style arrangement with small private bedroom and shared living and kitchen space, as well as co-working spaces and new models for real estate on the retail side to provide more brand exposure and entertainment options.

While adoption has been slower in Canada, many global markets have also started to take advantage of online marketplaces to cut out intermediaries in lending, investment, leasing, and property exchanges. The survey notes that the explosion of proptech firms likely means a significant consolidation is pending, with most Canadian executives polled expecting consolidation within the next 12 to 24 months.

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Toronto Regional Real Estate Board Unveils New Branding – Toronto Storeys

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The Toronto Real Estate Board has revealed a modern new look that includes a revamped name, logo, and colour scheme.

Now, the company will officially go by Toronto Regional Real Estate Board (TRREB) to reflect the regional nature of the company that has been in place since 2002. The brand refresh shows the evolution of the company’s members, the organization, and the real estate industry since its founding 100 years ago.

“Having been at the forefront of the real estate industry since 1920, this change, although subtle, is significant to benefit our 56,000 realtor members and their clients,” reads the company’s website.

READ: Rising Condo Prices in Toronto Could Have Negative Impact on Investors: Report

In the summer of 2018, TRREB says it began an extensive research and feedback process with key stakeholders, which included the board of directors and members. Through numerous surveys and focus groups, the company says it gained a better understanding of how it felt about the existing brand and how to show its growth.

The new logo reflects some of the key competencies that came from the research and speaks to the company’s leadership in the fields of market facts and data, technology, innovation, and professionalism.

“The icon in the new logo is meant to represent Toronto Regional Real Estate Board Members as a unified force for positive (upward) movement of growth in the real estate profession. It showcases the Toronto Regional Real Estate Board as a progressive and transformative force in the industry,” said TRREB President Michael Collins.

“It is also suggestive of a built form, whether you see a traditional home roofline or a condominium. All of the fifteen circles are a different size, create a sense of movement and momentum,” continued Collins.

“The new tagline, ‘Professionals connecting people, property and communities’ speaks volumes about who the Toronto Regional Real Estate Board Members are and what the organization is,” said Toronto Regional Real Estate Board CEO John DiMichele.

“Above all, the new tagline emphasizes the professionalism of our Members. It puts their good name first by highlighting what our Members do – they build communities and help people find their dream homes.”

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Technology, data, starting to transform commercial real estate: survey – Richmond News

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Technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions, respond quicker to consumer trends, and take on more complex projects, says consultancy Altus Group.

The Toronto-based real estate firm said Monday that for the first time, a majority of 400 global commercial real estate executives polled said they are seeing the disruptive impact of technology on the sector.

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The shift comes as the wave of investment and startups in recent years are starting to show results and shift perspectives, said Altus CEO Bob Courteau.

“There’s a bunch of really aggressive companies that came in to real estate globally, and they came in with a whole different view of the importance of data and technology.”

New companies, and new executives at existing ones, have caused a significant shift in thinking on the role in technology in the space, he said.

“The orientation of the management teams of historical commercial real estate was to put their investments in the ground, not into things like data and technology.”

The change is stark at the executive level, where 80 per cent of 350 firms surveyed now say they have a chief data officer or equivalent senior executive, compared with only 44 per cent four years ago.

“The last couple or three (years) has seen an explosion in change,” said Courteau.

WeWork may be the most well-known company in the space, but new entrants number in the thousands, by some estimates.

Real Estate giant Brookfield Asset Management, through their venture arm Brookfield Technology Partners, has recently invested in companies such as leasing software provider VTS, automated door hardware provider Latch, and contractor software provider Building Connect.

Meanwhile, real estate service provider Jones Lang LaSalle IP, Inc. launched a US$100 million venture fund in 2018 to invest in the property technology, or “proptech” space, joining an increasingly crowded field.

In Canada, the tech sector has seen numerous startups enter the space including Yuhu, which offers software for building managers, Breather, an on-demand office space provider, Lane, a mobile-focused tool for tenants, and MapYourProperty, which provides analytics for land development.

Early proptech entrants were focused more on efficiencies, like lower energy costs or automating repetitive tasks, but with the wealth of data available there’s the potential to improve future planning and tackle some of the more difficult decisions, said Courteau.

“What am I going to build, what’s the cost to build, what are the consumer trends, what are the upcoming neighbourhoods, how do I create a mixed environment…this is a data rich environment that can have a significant impact on the value of this new building that you’re about to build.”

The survey noted that technology has enabled numerous disruptive trends including multi-family co-living, a sort of dorm-style arrangement with small private bedroom and shared living and kitchen space, as well as co-working spaces and new models for real estate on the retail side to provide more brand exposure and entertainment options.

While adoption has been slower in Canada, many global markets have also started to take advantage of online marketplaces to cut out intermediaries in lending, investment, leasing, and property exchanges. The survey notes that the explosion of proptech firms likely means a significant consolidation is pending, with most Canadian executives polled expecting consolidation within the next 12 to 24 months.

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

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