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Investing in GTA Real Estate? Look at These Housing Markets – RE/MAX News

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After flaunting impressive numbers in the aftermath of the of the coronavirus pandemic, it is safe to say that the GTA real estate market is rebounding, perhaps even better than what industry observers anticipated. It is not only the city of Toronto experiencing renewed sales activity and higher home valuations. From Durham to York regions, the housing market is rising after a temporary slump at the height of the virus outbreak. Does this translate to real estate investing opportunities in the GTA?

Because of the red-hot housing market in North America’s fourth-largest city, a lot of first-time real estate investors think they are priced out from the very beginning. This belief makes sense, considering the enormous amount of upfront capital required to put into your first property. Contrary to popular belief, investing in GTA real estate does not only need to be concentrated in Toronto. There are many housing markets across the GTA that can pad your bottom line.

Consider this: a RE/MAX report from earlier this year revealed that 75 per cent of Canada’s housing markets are undervalued. In Ontario alone, several markets are undervalued, affordable and present opportunities for entrepreneurs. Within the GTA, where are these opportunities? Below, we explore four municipalities in the Durham Region for hopeful real estate investors within the  Greater Toronto Area.

Investing in GTA Real Estate? Look at These Housing Markets

In August, average housing prices across Durham Region advanced 3.5 per cent month-over-month and 19.5 per cent year-over-year to $734,136, according to the Durham Region Association of Realtors (DRAR). Transactions were also up 45 per cent year-over-year, with nearly 1,515 homes sold. New listings also rose 19 per cent to 1,839.

#1 Oshawa

The local Oshawa economy has endured through tough times over the last decade, mostly stemming from downturns impacting the automobile industry. The level of uncertainty in a sector so crucial to the local Oshawa economy is creating concern across the municipality. Despite this uncertainty, home prices within the city have not faltered, and real estate activity remains strong. According to DRAR, average home price in Oshawa was $613,000 in August, up from $607,000 in July and $517,000 last year. Despite this consistent climb, the Oshawa real estate market still presents commendable affordability for homebuyers and investors. With inventory levels sliding and demand growing, it might be a case of trying to get in before it is too late.

#2 Whitby

Whitby usually makes the list of one of Canada’s best places to live. Located just east of Toronto, Whitby mingles the small-town vibe with big-city amenities. According to DRAR’s latest figures, Whitby houses sold for an average of $798,000 in August, up from $750,000 in July and $688,000 in August 2019. What is impressive is that the median number of days a house stayed on the market was a mere 13 days. Active listings hit 178, while transactions reached 250, indicating a flourishing market.

With a lot of urban dwellers looking to flee the large city, there is booming demand in Whitby. This trend is a positive long-term one for the town of Whitby.

#3 Ajax

The Ajax real estate market has rebounded significantly since the province started to reopen the rest of Ontario. Not only have prices gone up to an average of $771,000 in August, but properties are also being scooped up within 11 days. The demand is increasing in Ajax, but there is a gaping problem: supply has flatlined. For real estate investors looking to build or flip a home, Ajax is a prime location, as the market is in desperate need of inventory to alleviate some of this demand-generated pressure.

#4 Pickering

Pickering is another GTA location that is seeing its inventories trend sideways while the number of sales steadily increase. The average sale price of a home in Pickering was about $838,000 in August, up from $686,000 year-over-year. Because Pickering is a desirable community in close proximity to Toronto, many families are looking to plant roots there, but this demand can’t be satisfied without new development. With a credit injection into the economy, developers will likely invest in building new properties.

Depending on your personal financial circumstances, this could be a great time to invest in GTA real estate than right now. The primary factor for real estate investing is credit, and money is cheap right now. The Bank of Canada slashed interest rates to 0.25 per cent in March and the central bank has indicated that it intends to maintain a near-zero rate to support the economic recovery. This makes borrowing less expensive and allows entrepreneurs to go all-in on their investment. The federal government and the big banks have highlighted their willingness to support the housing market, which bodes well for hopeful investors.

Overall, there are many factors that make investing in the GTA housing market an appealing, profitable opportunity….you just need to know where to look.

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United Property Resource Corporation unlocks value of real estate assets held by Canada's largest land owners – Canada NewsWire

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The Canada Mortgage and Housing Corporation (CMHC) is providing UPRC with a $20 million line of credit through the Affordable Housing Innovation Fund to be accessed for pre-development and pre-construction costs as it builds affordable housing across Canada. UPRC is committed to building a minimum of 5,000 new affordable housing units across the country over the next 15 years. This creates significant opportunity to repurpose assets and build sustainable communities.

UPRC has committed to ‘be building’ 1500 affordable units by 2025 and 5000 affordable units by 2035. That translates into approximately 20,000 new rental units within the same time period as many of these developments will be mixed income and mixed use ensuring much need community space will be incorporated.

“This is one of the largest opportunities to reimagine what our neighbourhoods could look like over the next 15 years and the common good that repurposing real estate can have on communities,” said Tim Blair, CEO, United Property Resource Corporation. “UPRC represents an exciting opportunity to fill a gap in the housing market across the country and advocate for progressive real estate models that are inclusive, environmentally and financially sustainable. None of this would be possible without the support from our partners; we are grateful to the Federal Government, and The United Church of Canada for their vision and commitment.”

UPRC will focus on providing affordable housing for Canadians in a range of housing types including housing for families. Many of UPRC’s projects will broaden housing choices, creating a unique opportunity to fill the “missing middle”, a range of housing types between single-detached houses and high-rise buildings that have gone missingfrom many of our cities in the last 60 to 70 years. As cities struggle to find ways to broaden housing choices, create walkable communities, and remain economically competitive, the missing middleis increasingly part of the discussion about intensification, complete communities, housing choices, and housing affordability.

The UCC undertook a national property inventory, in partnership with the CMHC, to assess the total real estate portfolio and create a strategy. The creation of a development corporation – UPRC – was a key tenet of the strategy.

“It’s incredible to see this vision come to fruition in the UPRC and to see the tremendous value it will bring to communities of faith across Canada,” said Nora Sanders, General Secretary of The United Church of Canada. “In the language that communities of faith would use, ‘this is the abundance that is available to create the world that we want to see'”.

The team of experts that make up UPRC today bring expertise in planning, development, investment banking, and business development. It has established partnerships with CMHC and The United Church of Canada.

Founded in 2019, UPRC brings professional real estate development and management expertise to communities of faith and non-profits to assist them in making astute decisions about their real estate while making lasting contributions to their communities. The development corporation collaborates with both public and private partners. To find out more, visit www.uprc.ca

SOURCE United Church of Canada

For further information: For more information, Backgrounder, Facts & Figures and Bios, please contact: Laura Currie Ryder, 416-317-9447, [email protected]

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http://www.united-church.ca/

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GAME PLAN: Redblacks centre Alex Mateas finds synergy in commercial real estate – Ottawa Sun

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Article content continued

With football gone – hopefully returning as scheduled in 2021 – Mateas and the rest of the CFLers feel like a part of their life has been taken away.

“I’ve never missed football the way I do now,” he said. “I feel like there’s a piece missing right now. Hopefully I can manifest that sense of competition through commercial real estate. But I’ve never wanted to put on the pads and hit somebody more than I do right now.”

With football on the back burner for now, Mateas will keep working out and doing off-season football activities, but he’s also sharply focused on the new business side of his life. He’s also thinking about his friends, his family and his fiancee Chelsea.

“There isn’t a better motivating factor that helps me wake up in the morning with fire,” he said. “It keeps me awake at night and wakes me up early in the morning.”

Then, there are his teammates – in business and in the locker room.

“The bond you create with your (football) teammates through the wins, through the adversity and through the physical contact, you can’t find a parallel to that anywhere,” he said. “You put your body on the line for the benefit of your teammates and it creates a brotherhood you can’t recreate anywhere.”

As for his role as part of the team at Cushman and Wakefield Ottawa, Mateas said: “I’ve been working toward this for three years. I’m absolutely loving it. I’ve got great teammates – in football and in business.”

The first overall pick in the 2015 CFL Draft (out of the University of Connecticut), Mateas is home grown. He grew up around the fields at old Lansdowne Park (with his dad Traian a well-known local soccer coach), going to Merivale High School and playing football for the Myers Riders, Cumberland Panthers and Ottawa Sooners.

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Real estate team dedicates a year to charity donations – Medicine Hat News

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By RYAN MCCRACKEN on September 19, 2020.

Members of Royal LePage Community Realty stand outside their Southview Drive office with a $1,000 check for Medicine Hat Family Services on Friday, the first of a dozen donations in the organization’s 12 Months of Giving campaign.–NEWS PHOTO RYAN MCCRACKEN

mccracken@medicinehatnews.com@MHNMcCracken

Forget the 12 days of Christmas, Royal LePage Community Realty is stepping up with 12 Months of Giving.

The local real estate team recently announced it will be taking $1,000 from its Institutional Advertising fund and giving it to a local not-for-profit group every month for the next year.

“We wanted to repurpose those funds and do something we could feel good about,” said Royal LePage Community Realty owner/broker Brooklyn Kalista, adding the Institutional Advertising fund is built through monthly contributions from agents.

“We support the community and the community supports us. Without community support it’s pretty hard to have success in our industry. It’s just wanting to be there for the community on a collective level. A lot of us do it personally and collectively throughout the year, but just seeing what was happening this year, specifically with COVID and everything else, we just thought this would be a really good time and a great way to repurpose funds and inject something back where we could.”

First up will be Medicine Hat Family Services, followed by the Medicine Hat Women’s Shelter Society, the Santa Claus Fund, the food bank’s Brown Bag Lunch Program, the Kinsmen Club of Medicine Hat and Medicine Hat Soccer Association.

The second half of the campaign will feature donations to McMan Youth, Family and Community Services Association, the local Mustard Seed, SPCA Medicine Hat, Big Brothers Big Sisters, the Hat Ronald McDonald House and Habitat for Humanity Southern Alberta.

Kalista says many of the team’s 46 members already volunteer their time at a number of these organizations throughout the year. When approaching the 12 Months of Giving campaign, Kalista says team members were asked to express which organizations mattered most to them.

“We kind of just picked things that really hit home, literally,” she said. “We went with things like bringing food to the table, things that deal with mental health – because obviously that’s been a really big thing for our community this last bit – and just family. Anything to do with those sorts of services that relate to everyday living, we wanted to make sure we were hitting.”

After figuring out the 12 recipients, Kalista says the team reached out to each one to co-ordinate a schedule that will help each organization at a time when it’s needed most.

“We put some thought into our timeline over the next 12 months, as to when it works best for those organizations. We connected with the organizations too, to see if there were times that were more opportune for them as well,” said Kalista. “We kept our one that goes directly to the Santa Claus Fund right around the time that we know we’re usually donating to them anyways. And we will collectively donate toys and games on top of what we’re doing. We did try to match up with the food bank for the brown bag lunch that they have going on right now.”

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