TREB Condo Report Q4 2012
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

TREB Condo Report Q4 2012

on

  • 174 views

 

Statistics

Views

Total Views
174
Views on SlideShare
156
Embed Views
18

Actions

Likes
0
Downloads
1
Comments
0

2 Embeds 18

http://iloftu.ca 14
http://private-office.myrealpage.com 4

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

TREB Condo Report Q4 2012 Presentation Transcript

  • 1. TREB Member Inquiries: (416) 443-8152 Media/Public Inquiries: Fourth Quarter 2012 (416) 443-8158Economic Indicators Condo Market Well Supplied in the Fourth Quarter Total TorontoMLSReal GDP Growth i TORONTO, January 11, 2013 — Greater Toronto REALTORS® reported 3,830 Condo Apartment Sales1,6 condominium apartment sales through the TorontoMLS system during the fourth Q3 2012 t 0.6% quarter of 2012. This number represented a decline of 23 per cent compared to 5,005 sales during the same time period in 2011.Toronto Employment Growthi i The average selling price for condominium apartments in the fourth quarter was December 2012 t 4.5% $332,410 – down by one per cent compared to the fourth quarter of 2011.Toronto Unemployment Rate “The condominium apartment market was the best supplied market segment in 2012. December 2012 u 8.3% Strong condo apartment completions in 2011 and the first few months of 2012 resulted in a substantial number of new listings on the TorontoMLS system last year. 5,005 iiInflation (Yr./Yr. CPI Growth) With more units for buyers to choose from, the annual rate of price growth 3,830 November 2012 u 0.8% moderated,” said Toronto Real Estate Board (TREB) President Ann Hannah. iii In the condominium apartment rental market, transactions rose by almost 13 perBank of Canada Overnight Rate cent year-over-year in the fourth quarter, while the number of units listed for rent December 2012 q 1.0% increased by over 17 per cent. Average rents were up on a year-over-year basis for Fourth Quarter 2012 Fourth Quarter 2011 one-bedroom and two-bedroom apartments. ivPrime Rate “While some first-time buyers put their decision to purchase on hold in the fourth December 2012 q 3.0% quarter, many of these people chose to rent a condominium apartment instead. iv Similar to the ownership market, strong new condo completions prompted aMortgage Rates (Dec. 2012) considerable increase in the number of investor-held units offered for rent. However,Chartered Bank Fixed Rates there was still enough competition between renters to prompt upward pressure on TorontoMLS Average 1 Year u 3.00% average rents,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. Condo Apartment Price1,6 3 Year q 3.70% Condominium Apartment Market Summary 5 Year q 5.24% Fourth Quarter 2012Sources and Notes:iStatistics Canada, Quarter-over-quarter 2012 2011growth, annualized Sales Average Price Sales Average Price $336,283 $332,410ii Statistics Canada, Year-over-year growth Total TREB 3,830 $332,410 5,005 $336,283for the most recently reported month Halton Region 76 $351,161 82 $311,116iii Bank of Canada, Rate from most recent Peel Region 535 $252,269 756 $251,054Bank of Canada announcement City of Toronto 2,772 $352,030 3,580 $360,884iv Bank of Canada, rates for most recentlycompleted month York Region 338 $327,892 484 $318,516 Durham Region 104 $223,973 91 $210,594 Fourth Quarter 2012 Fourth Quarter 2011 Other Areas 5 $305,800 12 $208,042
  • 2. Toronto Real Estate Board SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Industrial Leasing ALL TREB AREAS FOURTH QUARTER 2012 Sales1 Dollar Volume1 Average Price1 Median Price1 New Listings2 Active Listings3 Avg. SP/LP 4 Avg. DOM5 TREB Total 3,830 - $1,273,129,748 - $332,410 - $303,500 - 8,009 - 4,673 - 97% - 37 - Halton Region 76 $26,688,199 $351,161 $262,000 118 78 98% 35 Burlington 25 $6,871,800 $274,872 $245,000 30 17 98% 33 Halton Hills 6 $1,492,400 $248,733 $248,500 4 2 97% 72 Milton 7 $1,848,999 $264,143 $254,000 12 5 98% 22 Oakville 38 - $16,475,000 - $433,553 - $281,000 - 72 - 54 - 98% - 33 - Peel Region 535 $134,963,980 $252,269 $240,000 1,246 731 97% 35 Brampton 74 $15,025,502 $203,047 $204,500 150 97 96% 40 Caledon 1 $387,000 $387,000 $387,000 2 5 97% 69 Mississauga 460 - $119,551,478 - $259,895 - $246,500 - 1,094 - 629 - 97% - 34 - City of Toronto 2,772 $975,827,751 $352,030 $322,000 5,761 3,290 97% 38 ! TURN PAGE FOR CITY OF TORONTO TABLES OR CLICK HERE: - - - - - - - - York Region 338 $110,827,638 $327,892 $305,000 751 499 97% 39 Aurora 11 $4,050,700 $368,245 $308,000 14 10 98% 50 E. Gwillimbury 0 - - - - - - - Georgina 3 $623,000 $207,667 $205,000 4 2 97% 47 King 0 - - - 1 12 - - Markham 103 $34,586,480 $335,791 $295,000 245 198 96% 44 Newmarket 14 $3,509,400 $250,671 $243,500 11 3 96% 40 Richmond Hill 85 $25,503,821 $300,045 $292,900 196 98 97% 36 Vaughan 122 $42,554,237 $348,805 $318,000 270 166 97% 37 Whitchurch-Stouffville 0- - - - - - - 10 - 10 - - - - - Durham Region 104 $23,293,180 $223,973 $205,000 129 69 98% 38 Ajax 18 $3,668,400 $203,800 $194,500 32 12 97% 27 Brock 0 - - - - - - - Clarington 24 $4,163,480 $173,478 $159,000 21 13 98% 45 Oshawa 9 $1,727,000 $191,889 $162,000 21 13 97% 43 Pickering 26 $6,524,900 $250,958 $241,000 27 12 98% 32 Scugog 0 - - - - 1 - - Uxbridge 3 $719,000 $239,667 $241,000 1 3 97% 124 Whitby 24 - $6,490,400 - $270,433 - $222,500 - 27 - 15 - 98% - 31 - Dufferin County 5 $1,529,000 $305,800 $363,000 2 3 96% 141 Orangeville 5 - $1,529,000 - $305,800 - $363,000 - 2 - 3 - 96% - 141 - Simcoe County 0 - - - 2 3 - - Adjala-Tosorontio 0 - - - - - - - Bradford West Gwillimbury 0 - - - - - - - Essa 0 - - - - - - - Innisfil 0 - - - - - - - New Tecumseth 0 - - - 2 3 - - Page 3 Condo Market Report, Fourth Quarter 2012 2
  • 3. Toronto Real Estate Board SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Industrial Leasing CITY OF TORONTO FOURTH QUARTER 2012 Sales1 Dollar Volume1 Average Price1 Median Price1 New Listings2 Active Listings3 Avg. SP/LP 4 Avg. DOM5 TREB Total 3,830 $1,273,129,748 $332,410 $303,500 8,009 4,673 97% 37 City of Toronto Total 2,772 $975,827,751 $352,030 $322,000 5,761 3,290 97% 38 Toronto West 573 $161,237,756 $281,392 $274,000 1,216 750 97% 39 Toronto W01 67 $25,782,814 $384,818 $347,500 99 45 98% 31 Toronto W02 35 $12,001,480 $342,899 $332,000 60 24 100% 27 Toronto W03 19 $4,793,500 $252,289 $268,000 30 14 97% 31 Toronto W04 50 $9,649,750 $192,995 $182,000 78 50 96% 40 Toronto W05 59 $9,712,250 $164,614 $151,000 116 83 96% 49 Toronto W06 110 $41,115,741 $373,779 $335,000 356 244 97% 42 Toronto W07 4 $1,691,000 $422,750 $384,500 6 1 100% 15 Toronto W08 134 $40,214,490 $300,108 $285,500 284 146 97% 35 Toronto W09 38 $6,431,881 $169,260 $114,000 51 44 94% 64 Toronto W10 57 $9,844,850 $172,717 $166,000 136 99 96% 39 Toronto Central 1,721 $706,037,268 $410,248 $360,000 3,698 2,019 97% 37 Toronto C01 591 $250,266,844 $423,463 $375,000 1,440 873 97% 37 Toronto C02 66 $43,896,064 $665,092 $523,000 183 139 97% 36 Toronto C03 11 $6,385,000 $580,455 $530,000 26 15 97% 31 Toronto C04 40 $18,221,200 $455,530 $317,500 74 43 96% 40 Toronto C06 27 $9,270,770 $343,362 $320,000 51 29 98% 48 Toronto C07 121 $41,535,888 $343,272 $330,000 233 116 97% 33 Toronto C08 285 $116,486,878 $408,726 $359,000 527 216 97% 32 Toronto C09 32 $19,899,827 $621,870 $562,900 48 16 98% 35 Toronto C10 78 $33,193,513 $425,558 $392,500 149 47 98% 31 Toronto C11 53 $11,243,200 $212,136 $181,000 94 56 96% 40 Toronto C12 14 $10,300,500 $735,750 $513,750 43 30 95% 52 Toronto C13 82 $25,057,300 $305,577 $277,000 125 59 97% 35 Toronto C14 202 $74,381,508 $368,225 $350,000 462 244 97% 39 Toronto C15 119 $45,898,776 $385,704 $320,000 243 136 96% 44 Toronto East 478 $108,552,727 $227,098 $233,850 847 521 97% 39 Toronto E01 24 $9,363,300 $390,138 $407,700 66 31 98% 25 Toronto E02 18 $6,733,400 $374,078 $331,750 36 12 99% 28 Toronto E03 29 $5,581,800 $192,476 $145,000 35 20 96% 37 Toronto E04 72 $13,462,669 $186,982 $163,000 109 72 96% 40 Toronto E05 71 $17,647,980 $248,563 $235,000 114 55 96% 38 Toronto E06 3 $1,181,250 $393,750 $380,250 6 3 99% 18 Toronto E07 64 $13,925,200 $217,581 $224,000 157 101 97% 39 Toronto E08 35 $6,552,825 $187,224 $149,000 73 52 96% 36 Toronto E09 106 $25,229,650 $238,016 $239,900 177 103 97% 44 Toronto E10 10 $1,413,250 $141,325 $168,500 14 13 96% 39 Toronto E11 46 $7,461,403 $162,204 $160,000 60 59 96% 47 Page 3 Condo Market Report, Fourth Quarter 2012 3
  • 4. Toronto Real Estate BoardCondominium Apartment Market Summary1Share of Total Condo Apartment Sales By TREB Area Condo Apartment Sales by Price Range (All Areas) 2% 3% 0-199,999 City of Toronto 200K-299,999 9% 300K-399,999 Selling Price Range 400K-499,999 Peel Region 500K-599,999 14% 600K-699,999 York Region 700K-799,999 800K-899,999 Durham Region 900K-999,999 72% 1,000,000+ Halton Region Number of SalesSource: TREB Source: TREBShare of Total Condo Apartment Sales By Bedroom Type Condo Apartment Price by Bedroom Type (All Areas) 1% (All Areas) $450,000 7% Average Selling Price Bachelor $400,000 19% Median Selling Price $350,000 17% One Bedroom $300,000 $250,000 One Bedroom + $200,000 Den Two Bedroom $150,000 22% $100,000 Two Bedroom + $50,000 Den $0 35% Three Bedroom + Bachelor One One Two Two Three Total Bedroom Bedroom Bedroom Bedroom BedroomSource: TREB Source: Toronto Real Estate Board + Den + Den + Page 3 Condo Market Report, Fourth Quarter 2012 4
  • 5. Toronto Real Estate BoardSub-Market Breakdown: Downtown Core1 Condo Apartment Sales by Price Range (Downtown Core) 0-199,999 200K-299,999 300K-399,999 Selling Price Range 400K-499,999 500K-599,999 600K-699,999 700K-799,999 800K-899,999 900K-999,999 1,000,000+ Number of Sales Source: TREBCondo Apartment Price by Bedroom Type (Downtown Core) Condo Apartment Sales By Bedroom Type (Downtown Core)$1,200,000 Bachelor 26 Average Selling Price$1,000,000 Median Selling Price One Bedroom 249 $800,000 One Bedroom + Den 273 $600,000 Two Bedroom 204 $400,000 Two Bedroom + 112 $200,000 Den $0 Three Bedroom + 12 Bachelor One One Two Two Three Total Bedroom Bedroom Bedroom Bedroom Bedroom 0 50 100 150 200 250 300Source: Toronto Real Estate Board + Den + Den + Source: TREB Page 3 Condo Market Report, Fourth Quarter 2012 5
  • 6. Toronto Real Estate BoardSub-Market Breakdown: North York City Centre1 Condo Apartment Sales by Price Range (North York City Centre) 0-199,999 200K-299,999 300K-399,999 Selling Price Range 400K-499,999 500K-599,999 600K-699,999 700K-799,999 800K-899,999 900K-999,999 1,000,000+ Number of Sales Source: TREBCondo Apartment Price by Bedroom Type (North York Condo Apartment Sales By Bedroom Type (North York City Centre) City Centre)$500,000 Bachelor 1 Average Selling Price$450,000$400,000 Median Selling Price One Bedroom 65$350,000$300,000 One Bedroom + Den 66$250,000$200,000 Two Bedroom 106$150,000 Two Bedroom +$100,000 60 Den $50,000 $0 Three Bedroom + 25 Bachelor One One Two Two Three Total Bedroom Bedroom Bedroom Bedroom Bedroom 0 20 40 60 80 100 120Source: Toronto Real Estate Board + Den + Den + Source: TREB Page 3 Condo Market Report, Fourth Quarter 2012 6
  • 7. Toronto Real Estate BoardSub-Market Breakdown: Mississauga City Centre1 Condo Apartment Sales by Price Range (Mississauga City Centre) 0-199,999 200K-299,999 300K-399,999 Selling Price Range 400K-499,999 500K-599,999 600K-699,999 700K-799,999 800K-899,999 900K-999,999 1,000,000+ Number of Sales Source: TREBCondo Apartment Price by Bedroom Type (Mississauga Condo Apartment Sales By Bedroom Type (Mississauga City Centre) City Centre)$500,000 Bachelor 3 Average Selling Price$450,000$400,000 Median Selling Price One Bedroom 18$350,000$300,000 One Bedroom + Den 54$250,000$200,000 Two Bedroom 55$150,000 Two Bedroom +$100,000 62 Den $50,000 $0 Three Bedroom + 3 Bachelor One One Two Two Three Total Bedroom Bedroom Bedroom Bedroom Bedroom 0 10 20 30 40 50 60 70Source: Toronto Real Estate Board + Den + Den + Source: TREB Page 3 Condo Market Report, Fourth Quarter 2012 7
  • 8. Toronto Real Estate BoardNew Home MarketToronto CMA Condominium Apartment Completions Active Condominium Apartment Listings Trend Upward in Q4 2012(Annualized, 12-Month Moving Average) • New condominium apartment construction and the supply of listings20,000 on the TorontoMLS system are inextricably linked. Historic levels of18,00016,000 completions in 2011 and the first quarter of 2012 continued to14,000 translate into a substantial number of active listings throughout 2012.12,000 • An upward trend in active listings coupled with a slow-down in sales10,000 relative to 2011 resulted in the best supplied resale condominium 8,000 6,000 apartment market since the recession. 4,000 • Condominium apartment buyers had a substantial number of listings 2,000 to choose from in the fourth quarter. The result was a slight dip in the 0 annual rate of growth for the median selling price.Source: CMHC; TREB AdjustmentCondominium Apartment Completions and Condominium Apartment Sales-to-Active Listings Ratio andMLS® Active Listings (Annualized Trend) Median Price Growth (All Areas) 70% Annual Median Price Change (Right Scale) 25%30,000 Annual Median Price Growth Sales-to-Active Listings Ratio 60% Sales-to-Active Listings Ratio (Left Scale) 20%25,000 50% 15%20,000 40% 10%15,000 30% 5%10,000 20% 0% 5,000 Completions Active Listings 10% -5% 0 0% -10%Source: Toronto Real Estate Board; CMHC Source: Toronto Real Estate Board Page 3 Condo Market Report, Fourth Quarter 2012 8
  • 9. Toronto Real Estate BoardRental Market SummaryNumber of Units Listed Q4 Rental Market Better Supplied, but Still TightQ4 2012 vs. Q4 2011 3,000 • The condominium apartment rental market experienced annual 2012 2011 growth in rental transactions and the number of units listed in the 2,500 fourth quarter. The annual rate of growth for units listed outstripped the growth rate for rental transactions. 2,000 • While the condo rental market became better supplied, it is important 1,500 to note that the market is not oversupplied. This is evidenced by the 1,000 fact that average condominium apartment rents continued to trend upward on an annual basis at rates at or above inflation. 500 • CMHC’s latest rental market report released in December further 0 supports the fact that the condo rental market in Canada has remained Downtown Core North York City Centre Mississauga tight. The vacancy rate for rental condominium apartments stood at 1.2 per cent in the GTA – up only slightly over 1.1 per cent in 2011.Source: TREBNumber of Units Rented Average Two-Bedroom RentsQ4 2012 vs. Q4 2011 Q4 2012 vs. Q4 2011 1,500 $2,800 2012 2011 2012 2011 $2,400 $2,000 1,000 $1,600 $1,200 500 $800 $400 0 $0 Downtown Core North York City Centre Mississauga All TREB Downtown Core North York City Mississauga CentreSource: TREB Source: TREB Page 3 Condo Market Report, Fourth Quarter 2012 9
  • 10. Toronto Real Estate Board Share of GTA Condo Industrial Leasing Apartments In Rental 23.6% 22.7% 18.5% 13.7% 8.7%Halton Peel Toronto York DurhamSource: CMHC, 2012 Fall Rental Market Survey GTA Condo Apartment Vacancy Rate 1.4% NOTES 0.7% 1 Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TorontoMLS system between the first 0.5% 0.6% and last day of the quarter being reported. 2 New listings entered into the TorontoMLS system between the first and last day of the quarter being reported. 3 Active listings as of the end of the last day of the quarter being reported. 4 0.0% Ratio of the average selling price to the average listing price for firm transactions entered into the TorontoMLS system between the first and last day of the quarter being reported. 5 Average number of days on the market for firm transactions entered into the TorontoMLS system between the first and last day of the quarter beingHalton Peel Toronto York Durham reported. 6 Past monthly and year-to-date figures are revised monthly.Source: CMHC, 2012 Fall Rental Market Survey Page 3 Condo Market Report, Fourth Quarter 2012 10