NOVEMBER 5 - 19, 2016 VOLUME 19, ISSUE 20, FREE
SOUTHWESTERN ONTARIO EDITION
GRAND OPENING Saturday, November 5 TH at Noon Rosehaven Homes unveils its much-anticipated contemporary condominium in Burlington: Affinity.
INSIDE THIS ISSUE
HOW DO NEW MORTGAGE RULES AFFECT YOU?
THE FUTURE LOOKS BRIGHT IN HAMILTON!
BUILDING COMMUNITIES OF THE FUTURE IN SWO
READY FOR YOUR DECOR APPOINTMENT?
HOMES CONDOS COMMUNITIES
#ASKEMPIRE HOW TO PERSONALIZE YOUR NEW HOME Whether you’re researching or have bought a new home, Empire’s comprehensive collection of resources will help you along every step of the journey. Visit our new website and discover the answers to all your home buying questions today.
Explore the possibilities at empirecommunities.com
contents NOV 5 - 19, 2016 | VOLUME 19 ISSUE 20
PRESIDENT, YELLOW PAGES NEXTHOME
Jacqueline Hill ASSOCIATE PUBLISHER
Anne-Marie Breen EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Susan Legge DIRECTOR OF SALES, NATIONAL
Moe Lalani EDITOR
Wayne Karl ART DIRECTOR
Daiana Garay CONTRIBUTING EDITORS
Sonia Bell Elisa Krovblit Lydia McNutt SENIOR ACCOUNT EXECUTIVE
Nina Downs nina.downs@ypnexthome.ca SENIOR ACCOUNT EXECUTIVE
Dionne Fraser dionne.fraser@ypnexthome.ca
12
SALES CO-ORDINATOR
Sarah Khan MANAGER OF PRODUCTION
Helen Pearce
ON THE COVER
12
CO-ORDINATOR
Rosehaven Homes
Sandra Hanak-Vujnovic
Welcome to the Grand Opening at Affinity Condominiums
GRAPHIC DESIGNER
Miguel Cea CONTRIBUTING WRITERS
property profiles
advice
20 Reid’s Heritage Homes
14
Bungalow townhomes at the Gates of Kent in Meaford
34
Phelps Homes
Auburn Trail in Smithville the latest in 40 years of building
Joanne Keenan Jeffrey Reed
Mortgage Advice
What the new mortgage changes mean for first-timers
45 Fundamentally Speaking Let’s Talk Housing is about more than just a hashtag
#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 ypnexthome.ca
ADVERTISING Call 416.626.4200 for advertising
trending
10
24
38
Housing Market
Ontario markets gathering steam in house price gains
buyers’ resource section
15
New releases and grand openings
New Home Market
A look at prices and inventory of new homes in SWO
OHBA
Building new home communities of the future
city focus
40 Hamilton
The future looks brighter and brighter in Hamilton
6 YPNEXTHOME.CA
Hot Properties Kitchener-Waterloo & London
25 Hot Properties Hamilton New releases and grand openings
43
Mortgage Rates
in every issue
8 Editor’s Note 44 Advertiser Index 46 What’s Online
rates and information Office hours are Mon-Thurs. 9-5; Fri. 9-12 CIRCULATION Free distribution. Published bi-
weekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec. TERMS Advertisers, Editorials and New Home & Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL Submissions from interested parties will be considered. Please submit to the address above, to the attention of the Editor. COPYRIGHT 2016 All rights reserved by New Home & Condo Guide, Toronto, Ontario. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication. Yellow Pages Next Home is a trademark of Yellow Pages Group Co. in Canada.
Please recycle this magazine! Yellow Pages NextHome participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.
CALL HAMILTON HOME THREE COMMUNITIES OFFERING QUALITY & AFFORDABILITY COMING SOON
BACK-TOBACKS
MADIS S N CE N T R A L PARK HAMILTON MOUNTAIN
FROM THE LOW
300’s
$
3-STOREY TOWNS FROM THE MID
BACK-TOBACKS ANCASTER
FROM THE MID
300’s
$
3-STOREY TOWNS FROM THE HIGH
2-STOREY TOWNS ANCASTER
FROM THE
400’s
$
300’s
$
300’s
$
3-STOREY TOWNS FROM THE HIGH
300’s
$
BECOME A VIP REGISTER NOW LosaniHomes.com Pricing and specifications subject to change without notice. Rendering is artist concept. Map not to scale. E.&OE.
Editors' Notes
WESTDALE
SUSAN LEGGE Editor-in-Chief / Director of Content Yellow Pages NextHome Email: Susan.Legge@ypnexthome.ca Twitter: @SusanLegge
SEE MORE ONLINE ypnexthome.ca/westdale
Neighbourhood facts, before you buy If the number one rule in real estate is “location, location, location,” then making sure your next place is in the right “neighbourhood, neighbourhood, neighbourhood” is where we come in. At YPNextHome.ca we have taken “neighbourhood” to the next level. Finding a home is about more than just location; it’s about the micro details of the neighbourhood. To that end, we’ve collected data from across the country, right down to the details of who lives there.
We invite you to explore more than 2,700 neighbourhoods we have on our website to find out not only lives there, but what their favourite activities and hobbies are, and even how they commute to work. Essentially, your neighbourhood is an extension of your home. Get the facts before you decide. This issue profiles Hamilton’s Westdale neighbourhood, which we’ve explored. It’s a small sample of what’s available online. Check it out and let us know what you think!
Let’s really talk housing
WAYNE KARL Senior Editor
Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca Twitter: @WayneKarl
+ get social 8 YPNEXTHOME.CA
No one could blame first-time homebuyers for feeling a little downtrodden these days. Prices – especially in piping hot markets such as Toronto – continue to soar, adding yet another challenge to their homebuying aspirations. Now comes the latest round of changes to mortgage regulations (see page 14), which, while intended to impart a cooling to the market overall, again make it more difficult for young Canadians to buy a home. Welcome to Canadian real estate in 2016. In the coming weeks, specifically Nov. 22, National Housing Day, we’ll
hear more about govenment plans and policy when Ottawa releases a report from its recent Let’s Talk Housing initiative. Ultimately, the effort is meant to produce a National Housing Strategy – a challenge in itself when there really even isn’t a national housing market. This latest round of mortgage changes underlines just what a challenge this will all be. Canada is a vast country with diverse economies and housing markets, and we need a strategy that takes such provincial or regional differences into account, not blanket policies.
Interact with us on social media: ypnexthome
60
O S %
O D L
! T U
the good life, just better.
NOW OPEN! BREAKFAST IN YOUR GOURMET KITCHEN. SIPPING COFFEE ON YOUR BALCONY. BEACHSIDE DAYS. URBAN NIGHTS. DOWNTOWN DINING, BOUTIQUES AND SHOPS. A DAY AT THE MUSEUM. DINNER PARTIES FOLLOWED BY COCKTAILS IN THE PARTY ROOM. DESIGNER SPACES. THE VERY BEST IN QUALITY. THE REGION’S BEST LOCATION MINUTES TO THE COVETED LAKESIDE COMMUNITY OF PORT DALHOUSIE AND TRENDY DOWNTOWN ST. CATHARINES. YOUR HOME AT ELEMENTS... WHERE LUXURY IS STANDARD.
A MODERN CONDOMINIUM OFFERING LUXURY ONE AND TWO BEDROOM PLUS DEN PLANS, FROM THE MID
Prices are subject to change without notice. E.&O.E. Offer valid for a limited time. Subject to availability.
289.929.1377 elementscondo.com SALES CENTRE: 218 LAKEPORT ROAD, UNIT 6, ST. CATHARINES
DOWNTOWN
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Trending
Ontario markets gathering steam in house price gains By Wayne Karl SOME HOUSING MARKETS in Ontario – that aren’t Toronto – are gathering steam, while the Vancouver area continues to dominate nationally with surging house price gains. Based on the latest Royal LePage House Price Survey for the third quarter of 2016, BC markets dominate the top five. The usual suspects of Vancouver, West Vancouver and North Vancouver are right up there, but Richmond and Coquitlam are also showing strong double-digit increases of 34.3 and 26.4 per cent, respectively, year-over-year. And in Ontario, Toronto is still posting strong gains, but Oshawa, at 26 per cent, and Richmond Hill, at 25.7 per cent, are far outpacing Toronto’s 12.1-per-cent growth. BC’s new 15-per-cent property transfer surtax on foreign nationals and foreign-controlled corporations, introduced early in the quarter, is causing sales to slow, but is having little impact on Greater Vancouver home prices, which led the country with 30.6 per cent appreciation year-over-year. Ontario, which is said to be considering a similar tax, saw house price increases in the GTA of 13.6 per cent. Overall for Canada, the Royal LePage National House Price Composite shows that the price of a home increased 12 per cent year-over-year to $545,414 in the third quarter of 2016. The price of a two-storey home rose 13.7 per cent to $649,635, bungalows increased 11 per cent to $459,481, and condominiums 5.8 per cent to $360,679. “In what may be a final hurrah for this expansionary cycle, Greater Vancouver posted another quarter of unsustainably high price appreciation,” says Phil Soper, president and chief executive officer, Royal LePage. “The median value of homes in the tiny West Vancouver suburb increased by nearly 40 per cent – or an astonishing million dollars – year-over-year. That said, relief appears to be on the way. For months, the number of homes trading hands has been slowing on eroding affordability. And, slower sales volumes lead to moderating prices.” Nationally, real estate markets remain healthy, with home values showing modest to strong price appreciation in almost every Canadian city. “Even in the hardest hit oil patch regions, prices have held up well, with small single-digit declines, year-overyear,” says Soper. New measures introduced by the federal finance ministry on Oct. 3, designed to cool the housing market primarily by curtailing foreign buying activity, have led to a decline in sales in Vancouver. “Consumer confidence suffered a direct hit when the federal government introduced new, more restrictive regulations in early October,” says Soper. “While it is too early to say definitively, it appears Canadian homebuyers are 10 YPNEXTHOME.CA
AVERAGE PRICES Select Canadian housing markets Market
Q3 2015
Q3 2016
$2.44M
$3.41M
39.6
$797,119
$1.07M
34.3
Vancouver
$1.09M
$1.46M
34.1
North Vancouver
$1.04M
$1.31M
27.3
$748,103
$945,260
26.4
Oshawa, Ont.
$360,359
$453,975
26.0
Richmond Hill, Ont.
$854,800
$1.07M
25.7
Langley
$610,974
$763,642
25.0
Burnaby, BC
$796,447
$994,518
24.9
Surrey, BC
$626,365
$763,410
21.9
Whitby, Ont.
$486,294
$590,921
21.5
Oakville, Ont.
$775,559
$894,696
15.4
Ajax, Ont.
$509,017
$572,803
12.5
West Vancouver Richmond, BC
Coquitlam, BC
Toronto
% Change
$637,116
$714,002
12.1
$508,483
$569,510
12.0
Kelowna
$499,977
$554,289
10.9
Milton, Ont.
$555,534
$613,759
10.5
Hamilton, Ont.
$380,624
$419,830
10.3
Mississauga, Ont.
$555,883
$609,266
9.6
Kitchener–Waterloo–Cambridge
$340,348
$371,474
9.1
London, Ont.
$270,659
$294,387
8.8 8.8
Brampton, Ont.
Victoria
$493,739
$537,228
Montreal Centre
$402,790
$431,894
7.2
$397,161
$411,654
3.6
Ottawa Montreal East
$362,508
$374,121
3.2
Winnipeg
$284,991
$291,426
2.3
Montreal West
$377,914
$382,271
1.2
Regina
$330,545
$332,540
0.6
Calgary
$464,707
$457,044
-1.6
Saskatoon
$392,734
$384,909
-2.0
Edmonton
$386,829
$374,712
-3.1
SOURCE: Royal LePage House Price Survey
adjusting quickly, and that fears of a hard correction were unwarranted. While the changes are significant, major lenders may already be using similar criteria when writing mortgages in sensitive regions like Alberta and BC, so the additional drag on the market resulting from the new legislation won’t be as great as it appears on the surface.” Vancouver continues to attract foreign interest, he says, and capital is not expected to automatically migrate to Toronto as a result of the new tax in BC. “It is important to remember that most people buy houses for the location, lifestyle and family needs, and not simply upon financial investment criteria.”
IE W R 80 IN % G VI S O P L PR D EV U D
NOW OPEN
STARTING FROM THE HIGH
$200s A stunning architectural presence on Grimsby’s exciting new waterfront. ENJOY FABULOUS AMENITIES Welcoming Loggia Entry • Outdoor Pool and Lounge • Exquisite 2 Storey Lobby and Mezzanine • Theater Room Billiards Room • Club Room overlooking the pool and courtyard with breathtaking vistas of the lake
1, 1 Bedroom + Den and 2 Bedroom Designs Select Penthouse Residences with Panoramic Lake Views SmartSuite™ units starting from the high $200s
Direct access to the Grimsby Casablanca slated for completion 2021. LAKE ONTARIO
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PRESENTATION CENTRE 10 Windward Drive, Grimsby ON Mon-Thu: 1pm-7pm Fri: By Appointment Only Sat-Sun: 12pm-5pm Phone: (289) 235-8541 Email: aquazul@homesbydesantis.com
AquaZulCondo.ca
Rendering is artist’s concept. Prices and specifications subject to change without notice. Go Transit is a registered trademark of Metrolinx and is not affiliated with Homes by DeSantis or Aquazul. E.&O.E.
Station
Property Profile | ROSEHAVEN HOMES
cover story
Welcome to the Grand Opening at…
Affinity Condominiums ROSEHAVEN HOMES is excited to unveil its new
contemporary condominium, Affinity, to the rediscovered neighbourhood of Aldershot in Burlington. Lush trees and foliage create a canopy above waterfront trails and parks, and near-by stores, services and transit provide a network of everything you need – come and witness where your new lifestyle could begin. The Grand Opening of Affinity Condominiums is happening on Saturday, Nov. 5 at noon. Rosehaven Homes, known for building beautiful affordable luxury homes in Southwestern Ontario, is pushing the envelope and applying an attention to detail and long construction history to the world of the condominium. The two, six-storey buildings of Affinity will 12 YPNEXTHOME.CA
certainly be a fresh face for Plains Road East. “We feel these buildings truly relate to the unique needs of condo living,” says Heather Weeks, marketing manager at Rosehaven Homes. “We can’t wait to bring these innovative residences to Aldershot.” Contemporary in their architecture, the modern buildings of Affinity are designed with active lifestyles in mind. There is a gym in each of the two buildings, making morning
Location
Burlington Builder
Rosehaven Homes Development
Affinity Home Type
Two contemporary, six-storey condominium buildings Sales Centre
348 Plains Rd. E. Contact
rosehavenhomes.com
workouts a breeze, while party rooms and rooftop terraces in each building are ideal for entertaining. You’ll be pleased to bring your guests through the sophisticated lobbies – designed with sleek finishes and marble accents – each with the advantage of its own mail room. You can explore the buildings with an interactive scale model that takes you through floorplans, suite locations and amenities throughout the property. Be sure to visit the sales centre and
tour the model suite. The Cascade floor-plan exemplifies Affinity’s thoughtful-designed layouts that make the most of your space – you can truly experience what your next home could be. Ranging from onebedroom to two-bedroom plus den, the units provide perfect launch pads for getting in the flow and are the ultimate spots to land after a long day. Contemporary finishes like sleek quartz countertops, glass tile backsplashes and wide plank laminate
flooring add elements of style at every turn. Naturally, light is always top of mind in a Rosehaven-built home and the windows of Affinity ensure you can truly let the outdoors in. Speaking of the outdoors, Affinity is surrounded by fresh-air opportunities. Step outside and instantly connect to recreation and activities – bike lanes, hiking trails, waterfront walks – it’s all here. It takes no time to discover that the neighbouring swimming pool, tennis courts, ice arena and sailing club are all around the corner and you’ll quickly become a professional birdwatcher when you walk the pathways that follow the tranquil shoreline of Lake Ontario. When it comes to getting to and from Affinity, the nearby GO Train station provides easy commuting to the city while the local bus stops virtually at the front door, connecting riders to shopping, dining and the cultural highlights of Burlington and beyond. Affinity is a place where homeowners become one with their neighbourhood and surroundings. Experience your new lifestyle. Be sure to visit the Affinity sales centre and tour the well-appointed model suite. Grand Opening is Saturday, Nov. 5 at noon at the Affinity Condominiums Sales Centre (348 Plains Rd. E., Burlington). Prices starting from the low $300’s. For more information, visit rosehavenhomes.com
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 13
Advice | MORTGAGE ADVICE
How will new mortgage rules affect first-time homebuyers? By Alyssa Furtado
MORE ADVICE ONLINE ypnexthome.ca/news/advice
IF YOU’RE A FIRST-TIME homebuyer, new mortgage rules may make it more difficult for you to get into the housing market. As of Oct. 17, all homebuyers who get a high-ratio mortgage (down payment of less than 20 per cent of the purchase price) will now have to undergo a mortgage stress test by qualifying at a rate they don’t currently have to pay. This was something that only buyers getting a high-ratio mortgage with a variablerate term or a fixed-rate term of less than five years previously had to do. The best mortgage rate in Ontario was 2.29 per cent (as of writing). However, the Bank of Canada’s qualifying rate is 4.64 per cent. First-time buyers – especially in housing markets where there aren’t many affordable single-family homes available – may be priced out of the market due to the new rules, says Gregory Klump, chief economist of the Canadian Real Estate Association. Let’s use the example of a couple with a combined income of $100,000 has saved $40,000 for a down payment and they qualify for a mortgage rate of 2.29%. We’ll assume that their monthly property taxes will be $400 and their heating costs will be $150 a month. When using RateHub’s mortgage affordability calculator, they’ll be able to afford a property costing up to $521,041 because of the new mortgage rules. But under the old rules, they would’ve been able to spend $635,700. That’s a difference of $114,659. 14 YPNEXTHOME.CA
The reason for the rule change is because there have been concerns about rising household debt levels in Canada. The country’s debt-toincome ratio reached 167.6 per cent in the second quarter of this year, according to Statistics Canada. What that means is households have $1.68 in debt for every dollar of disposable income. One government report noted that the country has recently experienced the largest increase in household debt relative to income since 2000. There were also other rules announced that come into effect on Nov. 30 that may affect smaller mortgage lenders – the ones that often cater to first-time buyers. Those lenders will no longer be able to buy portfolio insurance for certain types of
mortgages they sell to investors. (Note that this is different than mortgage insurance and not something consumers have to purchase.) The smaller lenders won’t be able to sell those insured mortgages for funding. As a result, they won’t be able to issue as many mortgages and will likely have to raise rates. The bottom line The rule changes will make it harder for some first-time buyers to get into the housing market. And they may also face higher mortgage rates.
Alyssa Furtado is founder and CEO of RateHub.ca, a website that compares mortgage rates, credit cards and deposit rates with the goal to empower Canadians to search smarter and save money.
Hot Properties
Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca
LATEST LISTINGS
LONDON BAYFIELD • BLYTH • CLINTON GRAND BEND • INGERSOLL • LONDON MITCHELL • SEAFORTH • SHAKESPEARE ST.THOMAS • STRATFORD • TAVISTOCK TILLSONBURG • WINGHAM • WOODSTOCK
new openings
pre-registration
CASTLE ROCK PLACE
140 CALEDONIA By: The Tricar Group City: Stratford Housing type: Four-storey boutique style condominiums from the high $200’s. tricar.com
VICTORIA ON THE RIVER By: Stonecrest Homes City: London
HALTON HILLS WELLINGTON WATERLOO ALMA • AYR • CAMBRIDGE • ELORA FERGUS • GEORGETOWN • GUELPH KITCHENER • ROCKWOOD • WATERLOO
pre-registration
new releases HAVELOCK CORNERS
By: Rembrandt Homes City: London Location: 3444 Singleton Ave., off Southdale Housing type: Two-storey and mulit-level condominium townhomes from $231,990. rembrandt-homes.ca
By: Senator Homes City: Woodstock Housing type: New release of 42- and 50-ft. singles from the low $400’s senatorhomes.com
BALDWIN PLACE FOX FIELD By: Fusion Homes City: London Location: Fanshawe Park Road West and Foxwood Avenue
By: Tillsonburg Developments City: Tillsonburg Housing type: Single-detached freehold bungalows from $244,500. baldwinplace.ca
WILDFLOWERS
VICTORIA COMMON
By: Mattamy Homes City: Kitchener Housing type: Townhomes and 30and 36-ft. detached homes. mattamyhomes.com
By: Losani Homes City: Kitchener Housing type: Final release of modern townhomes from the $300’s losanihomes.com
ISHERWOOD AVENUE CONDOS
ROSEMOUNT SEMIS
By: Activa Group City: Cambridge Location: 25 Isherwood Avenue Housing type: Condo community activagroup.ca
CLAIR MEADOWS By: Gatto Homes City: Guelph Housing type: Townhomes and singledetached homes gattohomesinc.com
Housing type: Single-family homes from $482,900 fusionhomes.com
Housing type: Single-family homes at Hamilton Road & Commissioners Road East. stonecresthomes.ca
new openings
WESTWOOD MEWS
THE ENCLAVES OF UPPER CANADA
By: CountryGreen Homes City: Kitchener Housing type: Urban townhomes up to 1,365 sq. ft. countrygreenhomes.com
By: Menkes City: Georgetown Housing type: New release of 40-ft. lots from the low $800’s menkes.ca
By: CountryGreen Homes City: Kitchener Housing type: Semi-detached homes in the heart of Kitchener from $349,900 countrygreenhomes.com
CLAIRITY By: Reid’s Heritage Homes City: Guelph Housing type: One- and two-bedroom condominiums from the mid $200’s reidsheritagehomes.com
Builders If you would like to include your preview registration, new release or site opening in this feature, just email the details to wayne.karl@ypnexthome.ca
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 15
16
Elmira
ypnexthome.ca Plattsville
Stratford
Baden
Breslau
Acton
STRATFORD, WOODSTOCK, INGERSOLL, TILLSONBURG, ST. THOMAS, STRATHROY, MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR
London / Halton Hills / Wellington / Waterloo:
SEARCH ONLINE Toronto
SITES
PRICES
Cambridge
MATTAMY HOMES
River Mill
Guelph
REID'S HERITAGE HOMES
Clarity 2
Innisfil
BW HOMES
Alcona Shores
Kitchener
LOSANI HOMES
Victoria Common
Kitchener
REID'S HERITAGE HOMES
Williamsburg Walk 2
Milton
MATTAMY HOMES
Corporate
•
Paris
LOSANI HOMES
Simply Grand Towns
•
from low $300's
Tillsonburg
TILLSONBURG DEV.
Baldwin Place
•
from $269,500
•
47
•
BC
•
4
•
from mid $300's
•
•
PAGE
7
BC
•
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STRATFORD, WOODSTOCK, INGERSOLL, TILLSONBURG, ST. THOMAS, STRATHROY, MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR
BUILDERS
London / Halton Hills / Wellington / Waterloo:
LOCATION
D et . Se m Bu i ng a To low w C nh on om Ad do e ul tL ife st yle
ADVERTISER'S MAPPING INDEX
17
IN ASE W H O N LP NA I F
BALDWIN PLACE TILLSONBURG
HOME
SWEET HOME But Hurry! We’re proud to announce the FINAL PHASE of Baldwin Place, where everything comes together and everyone feels at home. Make your choice soon. It’s a decision you will never regret. All-brick, detached, freehold homes starting at $269,500 (incl.hst) 3 ESSELTINE DRIVE, TILLSONBURG MODEL HOME HOURS: OPEN MONDAY - THURSDAY & SATURDAY 10:AM TO 5:PM. SUNDAY 1:00PM - 5:00PM, CLOSED FRIDAYS & HOLIDAYS E.& O.E. Prices & Specifications are subject to change without notice.
Call us now at 1-800-265-5709
baldwinplace.ca
SOMETIMES, YOU WANT TO LOOK OUTSIDE FOR INSPIRATION
We take pride in designing and creating beautiful interiors. Still, we haven’t forgotten how wonderful it is to also admire the world outside. Which is why so many of our homes come with inviting front porches, encouraging you to follow the spectacular hues on swaying branches, all waving goodbye to summer. And this is also why you’ll often find Mattamy neighbourhoods next to natural landmarks, like parks and lakes. So, whether you choose to stroll through, play in, or just admire the great outdoors at your Mattamy community, we want to provide you with the best of every beautiful season, anywhere you choose to be, in the wonderful place called home.
THOUGHTFUL DESIGN HELPS MAKE US CANADA’S LARGEST HOME BUILDER FOR MORE INFORMATION REGISTER AT MATTAMYHOMES.COM
Property Profile | REID’S HERITAGE HOMES
Reid’s Heritage Homes’ Gates of Kent community is located just 30 minutes west of Blue Mountains.
Why pay Collingwood prices? NESTLED IN THE PICTURESQUE location of Meaford, the community of Gates of Kent is taking shape. Living in bungalow townhomes that offer open-concept design and a carefree condominium lifestyle, residents enjoy a life situated against the brilliant blue expanse of Georgian Bay and amidst scenic apple orchards. Construction is underway on the recently-released block of bungalow with loft townhomes. Purchasers can choose from two floorplans featuring more than 1,500 sq. ft. of space with two bedrooms and 2.5 bathrooms. Both floorplan options offer marvelous views of the beautiful scenery surrounding this community. Homes are Energy Star qualified, providing homeowners with a quieter, more comfortable living environment while enjoying the benefits of lower operating costs and a decreased carbon footprint. Move-in ready landscaping includes an asphalt paved driveway, lot 20 YPNEXTHOME.CA
In Meaford, bungalows start at only $299,900! graded and fully sodded, a rear patio and privacy fencing. A 1,300-sq.-ft. meeting room with kitchenette is planned for construction where residents will be able to enjoy relaxing and meeting with friends. Close to two of Ontario’s best hiking and cycling trail systems, Meaford and its surrounding area boasts a stunning array of amenities and attractions sure to please all homebuyers. Nearby activities include hiking, fishing, camping, horseback riding, beaches, the Meaford Golf and Country Club and the Meaford Curling Club.
MORE PHOTOS ONLINE ypnexthome.ca/gatesofkent
Location
Meaford Builder
Reid’s Heritage Homes Development
Close to two of Ontario’s best hiking and cycling trail systems, Meaford and its surrounding area boasts a stunning array of amenities and attractions sure to please all homebuyers.
Gates of Kent Home Type
Bungalow loft townhomes Sales Centre
33 Russett Dr., open Friday, Saturday and Sunday noon to 5 p.m. Additional appointments available Contact
226.662.0051 705.443.2653 reidsheritagehomes.com
Get acquainted with all that Gates of Kent has to offer by visiting the sales centre. Chat with the sales consultant and take a tour of the inventory home, showcasing the Waterton floorplan. While there, immerse yourself in the community, a place that many residents have already claimed as home. Right now, you will be privy to some spectacular fall views when you visit!
The sales centre is located at 33 Russett Dr., Lot 34, in Meaford, open Friday to Sunday noon to 5 p.m. Additional appointment times are available. Contact 226.662.0051 or 705.443.2653 to arrange a tour or visit reidsheritagehomes.com to view the community video online. NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 21
Townhomes in Collingwood Maintenance Free Living in Ontario’s Four Season Playground
C
M
Y
CM
FROM
429,900
$
MY
CY
CMY
K
Bungalow and Two-Storey Townhomes include: •
Granite countertops in kitchen & bathrooms
•
Natural gas fireplace with rustic stone mantel
•
9 ft. ceilings on main floor
•
5-piece appliance package with a fridge, stove, dishwasher, washer & dryer
•
Hardwood flooring in great room & dining room
•
Ceramic tile in bathrooms, mudroom, laundry room, kitchen & foyer as per plan
A Division of Reid’s Heritage Group
SALES CENTRE & MODEL HOME 86 Conservation Way, Collingwood, ON 705.446.2685
Onsite Recreation Centre
SALES CENTRE HOURS Thursday - Tuesday 12 - 5 pm Additional appointments available
Call Now! Final Phase Selling Fast!
SilverGlenPreserve.ca *Prices and specifications subject to change. All renderings are artist’s concept. See sales consultant for more details. E. & O.E. November 2016.
Trending
Southwestern Ontario new home market By Phong Ngo
CONSUMER DEMAND FOR NEW BUILT HOUSING continues
consumers decreased by 65 per cent year-over-year to 1,500 homes as of the end of September 2016. The supply and demand condition in the markets has put upward pressure on the price of remaining units.
to drive sales at projects across Southwestern Ontario and beyond. At the same time, the supply of inventory available to meet that demand has diminished. As of the end of the third quarter this year, there were 108 active new home projects across all the housing markets covered below. That’s compared to 182 that were active at the same point last year. The amount of unsold inventory available to
MORE TRENDING ONLINE nexthome.yp.ca/news
Guelph
$
Detached 30-39 ft. 2,098 sq. ft.
Waterloo
Detached 40-49 ft. 1,712 sq. ft.
1M+
1M+
$
Apartment 910 sq. ft.
Detached 30-39 ft. 1,915 sq. ft.
Cambridge
Brant & Brantford Average New Home Prices $
$886,394
Detached Detached 50-59 ft. 60-69 ft. 2,977 3,631 sq. ft. sq. ft.
$305,810
Detached 40-49 ft. 2,588 sq. ft.
$349,896
Detached 30-39 ft. 2,074 sq. ft.
$752,338
Apartment 789 sq. ft.
$631,333
Townhouse 1,477 sq. ft.
$500's
$511,373
$300,645
Detached 30-39 ft. 2,205 sq. ft.
$454,769
$615,490
$500's
$200's
Apartment 1,053 sq. ft.
1M+
$
$500's
Townhouse 1,373 sq. ft.
Average New Home Prices
1M+
$
Townhouse 1,467 sq. ft.
Kitchener
Average New Home Prices
1M+
Detached Detached 40-49 ft. 50-59 ft. 2,231 2,390 sq. ft. sq. ft.
$200's
Townhouse 1,416 sq. ft.
Apartment 830 sq. ft.
$200's
$401,445
Townhouse 2,036 sq. ft.
$333,082
$429,037
Detached 60-69 ft. 2,766 sq. ft.
$503,579
$479,110
Detached 50-59 ft. 2,504 sq. ft.
$552,907
$827,375
Detached 40-49 ft. 2,500 sq. ft.
$500's
$439,490
$693,000
Detached 30-39 ft. 2,307 sq. ft.
$612,046
$506,248
$500's
$200's
Apartment 942 sq. ft.
Average New Home Prices
1M+
$
$500's
Townhouse 1,405 sq. ft.
Niagara Falls
Average New Home Prices
$
$200's
Apartment 922 sq. ft.
Centre Wellington
Average New Home Prices
$200's
Townhouse 1,771 sq. ft.
$370,000
Apartment 773 sq. ft.
$200's
$428,400
Townhouse 1,361 sq. ft.
$291,759
Semi Detached 1,758 sq. ft.
$456,915
$371,661
Detached 60-69 ft. 3,275 sq. ft.
$200's
1M+
$500's
$553,594
$392,358
Detached Detached 40-49 ft. 50-59 ft. 2,771 2,577 sq. ft. sq. ft.
$554,900
Detached 30-39 ft. 2,165 sq. ft.
$1,194,900
$759,217
$907,097
$500's
$668,490
$500's
1M+
$521,053
$
Average New Home Prices
$423,481
1M+
$
$200's
Welland
Average New Home Prices
$450,872
Hamilton
Average New Home Prices
Townhouse 1,774 sq. ft.
Source: Altus Data Solutions (Altus Group Q3 2016) Phong Ngo is the New Homes Research Director at Altus Group, the official source of new home information for the Building Industry and Land Development Association, and a member of Waterloo Region Home Builders’ Association, Hamilton Halton Home Builders’ Association and Guelph & District Home Builders’ Association.
24 YPNEXTHOME.CA
Hot Properties
Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca
LATEST LISTINGS
HAMILTON HALTON NIAGARA ANCASTER • BEAMSVILLE • BINBROOK • BRANT • BRANTFORD • BURLINGTONCATHARINES • GRIMSBY • HAMILTON • MILTON • NIAGARA • OAKVILLE • PARIS PORT DOVER • ST. CATHARINES • STONEY CREEK • VINELAND STEPPING STONES
pre-registration ALCONA SHORES By: Bayview-Wellington Homes City: Innisfil Housing type: Luxury singles on 32-, 40- and 48-ft. lots myalcona.com
THE WEST By: Adi Developments Location: Burlington Housing type: Luxury boutique condos from the $190’s adidevelopments.com
ORIGIN By: Coletara Developments City: Milton Housing type: Multi-building midrise condo development coletara.com
PARADIGM By: Molinaro Group City: Burlington Housing type: Condo suites in midtown Burlington paradigmcondos.ca
CENTRAL PARK By: Losani Homes City: Hamilton Housing type: Towns from low $300’s, singles high $400’s mycentralpark.ca
THE GATSBY By: New Horizon City: Hamilton Housing type: Condos from the low $200’s gatsbycondos.ca
WOODWAY TRAILS By: Eastforest Homes City: Simcoe Housing type: Singles from $327,900 and semis from $224,900 eastforesthomes.com
By: Phelps Homes City: Smithville Housing type: Two-storey townhomes phelpshomes.com
SIMPLY GRAND By: Losani Homes City: Paris Housing type: Townhomes from from the $300’s simplygrandtowns.com
SUMMERLEA WOODS By: Empire Communities City: Binbrook Housing type: Townhomes from the mid $300’s and detached homes from the low $400’s summerleawoods.com
LIFE By: Branthaven Homes City: Winona Housing type: Townhomes from the $300’s branthaven.com
AFFINITY CONDOMINIUMS By: Rosehaven Homes Location: Aldershot, Burlington Housing type: Condos from the low $300’s affinitycondo.com
EXPLORE By: Branthaven Homes & Ballantry Homes City: Hamilton Housing type: Townhomes exploretowns.com
AQUAZUL By: Homes by DeSantis City: Grimsby Housing type: Waterfront condominiums aquazulcondo.ca
SAPPHIRE By: New Horizon City: Stoney Creek Housing type: Waterfront condominiums from $199,999
sapphirecondos.ca
THE BERKELEY CONDOMINIUMS
FALLINGWATERS
By: Carriage Gate Homes City: Burlington Housing type: 154-unit condo carriagegatehomes.com
By: Losani Homes City: Hamilton Mountain Housing type: Two- and threestorey towns from the $400’s losanifallingwaters.com
TIFFANY HILL By: Rosehaven Homes, Homes by DeSantis & CDI Homes City: Ancaster Housing type: Detached homes and freehold townhomes tiffanyhill.ca
PASSAGES ON THE CANAL By: Bayview-Wellington Homes City: Welland Housing type: Luxury freehold townhomes on the Canal mypassages.ca
new openings THE PRESERVE By: Mattamy Homes City: Oakville Housing type: Executive condo townhomes from the mid $800’s mattamyhomes.com
THE KINGSWAY AT JORDAN VILLAGE By: Phelps Homes City: Smithville Housing type: Bungalow towns phelpshomes.com
AVALON By: Empire Communities City: Caledonia Housing type: Townhomes from $239,990 and detached homes from the mid $300’s empireavalon.com
THE WOODLANDS ANCASTER By: Losani Homes City: Ancaster Housing type: Singles on forest court lots from the $500’s woodlandsancaster.com
PURE By: Branthaven Homes City: Milton Housing type: Two-storey freehold townhomes branthaven.com
LAKE HOUSE By: Branthaven Homes Location: Grimsby Housing type: Waterfront townhomes and condos lakehouselife.ca
STATIONWEST By: Adi Developments Location: Burlington Housing type: Three-storey townhomes at Aldershot Go Station adidevelopments.com
ELEMENTS By: Mountainview Homes City: St. Catharines Housing type: Luxury one- and two-bedroom luxury condos elementscondo.com
CENTRE SQUARE By: Homes by DeSantis City: Beamsville Housing type: Boutique and freehold urban towns from the mid $200’s centresquare.ca
Builders If you would like to include your preview registration, new release or site opening in this feature, just email the details to wayne.karl@ypnexthome.ca 25
26
ypnexthome.ca
Paris
Port Dover
Simcoe
Binbrook
Grimsby
Georgetown
Caledon
Smithville
Welland
Fonthill
Thorold
Ridgeway
Stevensville
Chippawa
OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE
Halton / Hamilton / Wentworth / Niagara:
SEARCH ONLINE Fort Erie
LOCATION
BUILDERS
SITES
Ancaster
CARRIAGE GATE HOMES
Legacy Ancaster
Ancaster
LOSANI HOMES
Astoria Grand
•
from mid $300's
7
Ancaster
LOSANI HOMES
Augusta
•
from $400's
7
Ancaster
LOSANI HOMES
The Woodlands Ancaster
•
•
from high $700's
7
Beamsville
LOSANI HOMES
Vista Ridge
•
•
from $400's
7
Brantford
EMPIRE
Wyndfield
•
•
ROSEHAVEN HOMES ADVERTISERS
•
•
from $900's
30
2&3
Affinity Condominiums
Avalon
PAGE
•
from low $300's
•
Caledonia
EMPIRE
Greensville
THOMAS COCHREN HOMES The Greystones
Grimsby
BRANTHAVEN HOMES
Lake House
•
from $400's
Grimsby
HOMES BY DESANTIS
Aquazul
•
from high $200's
Hamilton
BRANTHAVEN HOMES
Explore
Hamilton
LOSANI HOMES
Central Park
Hamilton
LOSANI HOMES
Niagara
37
2&3
•
from $1,400,000
36
28&29
11
•
from $300's
•
from low $300's
7
Fallingwaters
•
from high $400's
7
BW HOMES
Passages on the Canal
•
St Catharines
MOUNTAINVIEW HOMES
Elements
St Catharines
PHELPS HOMES
Merriton Commons
•
•
Simcoe
EASTFOREST HOMES
Woodway Trails
•
•
Winona
BRANTHAVEN HOMES
Life
•
5
•
from mid $200's
•
9
33
From $329,900
•
28&29
from low $300's
32
29&29
OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE
Burlington
PRICES
Halton / Hamilton / Wentworth / Niagara:
D et Se . m Bu i n To gal w ow C nh o o Ad ndo me ul tL ife st yle
ADVERTISER'S MAPPING INDEX
27
A N C A ST E R
30 YPNEXTHOME.CA
SCENIC TRAILS C
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D
O
M
I
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I
U
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OPENING NOVEMBER 2016
FROM THE MID
200'S URBAN LIVING, SUBURBAN SETTING
Main St. W. adise Rd.
n Ave.
Garth St.
Mohawk Rd. W.
Upper Par
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LINC
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. rn Ave Redfe
riv
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FOR VIP ACCESS AT WWW.SCENICTRAILS.CA
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Located at 1 Redfern Avenue, on the highly sought-after Hamilton west mountain brow.
McMaster University
discover New Homes
SIMCOE! in
A picturesque and quiet new home community filled with vibrant landscapes, parks, walking trails, shopping and schools right around the corner.
SIGNATURE SERIES FEATURES INCLUDE*
GRANITE COUNTERTOPS CERAMIC TILE HARDWOOD 9’ CEILINGS BRICK
PLUS
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UP TO
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VISIT OUR DECORATED MODEL HOME TODAY! 150 WOODWAY TRAIL, SIMCOE 519-428-1408 eastforesthomes.com Prices correct at press time. Broker protected. *Luxury features apply to Signature Series Homes only. *9 ft ceilings on main floor, *Brick on main floor, *Quality ceramic tile flooring as per plan, *Quality hardwood flooring on main floor as per plan, *Granite Kitchen counter tops (excludes kitchen island) Please see Sales Representative for details. E. & O.E., October 18th 2016
GRAND OPENING NOVEMBER 12TH
LIVE IN THE
HEART
OF
ST. CATHARINES
WHERE THE PAST MEETS THE FUTURE
ATTACHED BUNGALOWS & BUNGALOW TOWNS
REGISTER NOW FOR THE VIP LAUNCH 26 Oakdale Ave. St Catharines, ON L2P 2B9 905-945-6978 Phelpshomes.com
Property Profile | PHELPS HOMES
Phelps Homes Auburn Trail the latest in 40 years of new-home building excellence Location
CELEBRATING 40 YEARS of committed
Smithville
customized construction in the Niagara region, Phelps Homes provides customers with a sense of comfort and trust in living spaces families can call home. Phelps Homes’ unique bungalows, twostorey homes and townhouses provide access to big city amenities, while taking you away from the fastpaced, densely populated suburbia. Featuring beautiful two-storey homes and in-demand bungalows on large 50-ft. lots, Phelps Homes’ Auburn Trail development in the quaint west Niagara town of Smithville is an ideal community for
Builder
Phelps Homes Development
Auburn Trail Home Type
Two-storey homes and bungalows on 50-ft. lots Sales Centre
31 Gateway Ave. Contact
phelpshomes.com 905.957.1777 905.945.6978 34 YPNEXTHOME.CA
families. Located in the heart of wine country and surrounded by forested bike trails, the community features open concept kitchens, large lots, double garages and roomy master bedrooms. With three-, four- and fivebedroom homes available for purchase, this development caters to growing families. It’s a family neighbourhood with the homes in close proximity to a series of trails and forested land. With only several lots left, Phelps Homes is introducing its final touch series. The final touch series of homes is predetermined floorplans
Featuring beautiful two-storey homes and in-demand bungalows on large 50-ft. lots, Phelps Homes’ Auburn Trail development in the quaint west Niagara town of Smithville is an ideal community for families. on predetermined lots with several upgrades decided by the Phelps Homes design team. They have taken the guesswork out of the design process for you by taking these homes into the drywall stages but still allowing the customer to make design decisions to ensure the home reflects the style of the homeowner. This allows for quicker move in dates. You can find the final touch series online here: phelpshomes.com/ quick-move-ins Although the new Auburn Trail neighbourhood is tailored to families, Phelps Homes is also Niagara’s leader in premier adult living, offering
craftsman-style bungalows and bungalow lofts to everyone. Slated to begin selling in Nov. 2016 is Merritton Commons in the heart of St Catharines. The site will feature six attached bungalows and two storeys and 37 bungalow towns. Registration online now, as a VIP launch is coming very soon. Also, coming soon in the spring, is a community located in Grimsby on Central Avenue. The active adult lifestyle community will feature bungalow towns with the architecture that Phelps is known for. Registration is available online now.
For first-time homebuyers, Phelps Homes at Streamside will have two-storey townhomes available spring 2017 in the low $300’s. Located close to farmers’ markets and minutes from the modern world, it also has a collection of executive bungalow and two-storey craftsman-styled towns. Register online now, for a VIP launch coming in spring. The Phelps model home is located at 31 Gateway Ave. in Smithville. For more information, visit phelpshomes.com or call 905.957.1777 or 905.945.6978.
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 35
GUELPH
HWY 5
HWY 8
GREENSVILLE
HAMILTON
BROCK RD.
PETERS CORNERS
N HWY 6
DUNDAS
HWY 403
TORONTO
GRAND
OPENING
SATURDAY, NOV 5 • 12 noon
TOUR OUR MODEL SUITE
Join us for the Grand Opening of Affinity, a 6-storey condominium designed with unrivalled quality and attention to detail. Two stunning contemporary buildings rise above the tree-lined streets in the rediscovered neighbourhood of Aldershot. Be there!
SALES CENTRE 348 PLAINS ROAD EAST BURLINGTON
QEW
Plains Rd E
300’s
Visit AFFINITYCONDO.COM
King Rd
N
Filmandale Rd
Waterdown Rd
403
From the low
SALES CENTRE
North Shore Blvd E LAKE ONTARIO
Specifications are subject to change. Renderings are artist’s concept. Map is not to scale. E&O.E.
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 37
Trending
Building communities of the future ON A WET DAY IN OCTOBER, the Ontario Home Builders’ Association (OHBA) along with 40 delegates from across Ontario embarked on a housing tour which focused on what the future of community building might look like along new and planned transit corridors throughout the Greater Toronto and Hamilton Area. The province of Ontario is investing more than $32 billion on regional transit over the next decade. But building better suburban and regional transit is just the beginning. It is equally important to build better neighbourhoods along these transit lines and around stations. The fullday tour took delegates to three innovative sites along the Lakeshore West GO line – one completed, one in the works and one still in the planning phase – that are forging the path for these complete communities that are transit-friendly, walkable and connect infrastructure projects to the community. These projects give us a crystal ball look at what the future of housing in Ontario could look like. 38 YPNEXTHOME.CA
The tour started with a walking tour of the FRAM Building Group project at Port Hope a short two-minute walk from the GO Port Credit train station. The Port Credit tour led by Fred Serrafero, vice-president of development and construction, and John Giannone, project manager of sales, marketing, and construction, from FRAM Building Group walked participants through the recently completed community which included the construction of midrise buildings, townhomes, live-work units, piazzas and commercial spaces. The hosts also showcased how the company integrated a newly built retirement facility into the community
ensuring easy access to all the amenities included in the community. While exploring the project, Serrafero and Giannone discussed some of the challenges they faced through the approvals process and remediating a former brownfield site to integrate it back into the broader Port Credit community. From there OHBA delegates boarded the GO Train and traveled to Burlington to visit The Molinaro Group’s Paradigm Condo site located just steps from the Burlington GO Station. The Phase One three-tower project, currently under construction, has sold out its first tower, is 70 per cent sold on its second and is
MORE TRENDING ONLINE ypnexthome.ca/news
about to start marketing it’s third. This project is the first of its kind in Burlington and is focused on meeting the city’s Growth Plan targets for density and intensification. Vince Molinaro, president of the Molinaro Group, along with Linda Davies, Paradigm Condo’s exclusive realtor, discussed how the city of Burlington has a limited number of single-family home lots available and that there is a real need for developing more pedestrian-friendly, easily accessible, higher density projects in order to meet the growing and changing population in the region. Reaffirming this point was Burlington’s Chief City Planner, Mary
Lou Tanner, who provided invaluable insight into the planning process for these new developments, and offered a sneak peek into some of Burlington’s exciting plans to accommodate new growth in the future. After a lunch sponsored by The Molinaro Group, the tour headed to Hamilton to explore the West Harbour Redevelopment site. Delegates were met by Chris Philips, the senior advisor to the general manager of planning and economic development for the City of Hamilton, who discussed the future of this waterfront site. Philips noted that the project would not have been
realized if not for the stadium and GO Train station that had been built for last year’s Pan Am Games. With the investments made into those projects, the potential for this area became very apparent. Since then, the City has been working with planners and designers to develop a template for how they envision this new community hub which would include a combination of low and midrise residential buildings surrounded by parks, restaurants and cafes within an easy walk to downtown Hamilton and the GO Train. Despite the dreary day, delegates were able to get a better understanding of how these communities are planned, the approval process and how utilizing transit lines will allow better opportunities to grow the province. To learn more about the benefits of building complete communities along transit corridors, check out the report, Suburbs on Track: Building Transit-Friendly Neighbourhoods Outside the Toronto Core, at ohba.ca
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 39
City Focus | HAMILTON
HAMILTON Growing economy, strong housing market, bright future HAMILTON MAY BE only less than an hour’s drive west along the Queen Elizabeth Way, but it long lived in the shadows of its neighbour Toronto. Until recently. Long known as Steeltown, The Hammer and other less-thancomplementary monikers, Hamilton has undergone a fundamental transformation that has the city poised for long-term prosperity. For homebuyers considering purchasing in the area, there are good reasons to consider Hamilton. The city has been cited as among Canada’s most welcoming areas, particularly for first-time buyers. The Real Estate Investment Network, for example, has named Hamilton as the top real estate investment town in all of Ontario through to 2018. Continuing diversification of the city’s economy, coupled with increased accessibility provided by the transportation 40 YPNEXTHOME.CA
improvements, provides a strong economic base, the group says. In a few short years, Hamilton’s economy will be unrecognizable compared to past decades. In recent years, Hamilton has seen significant expansion in sectors such as health care and post-secondary education, offsetting a historical reliance on steel manufacturing. Indeed, Hamilton’s economy today is much more diversified than the Hammer of old. For these and other reasons, the Hamilton housing market has been a darling in the eyes of homebuyers and investors for years – and a bargain compared to nearby Toronto – where single-detached homes cost hundreds of thousands of dollars more. The limited supply of singledetached homes in the GTA is causing record price growth there, encouraging some buyers to look west to Hamilton.
Hamilton’s employment has been trending higher since March 2015, as strengthening employment and income, combined with slower price growth, should reduce any level of housing overvaluation. Housing starts are to stabilize near 2,400 units in 2016 and 2017, following a decline in 2015. Fewer single-detached housing starts in 2017 will be offset by more multi-unit starts. High mortgage carrying costs will result in slightly lower demand for single-detached housing in 2017, as this type of dwelling is less affordable compared to multi-unit housing. “Relative to the GTA, Hamilton is still considered a more affordable housing market and will continue to attract potential homebuyers from the less affordable municipalities,” says Abdul Kargbo, senior market analyst for Hamilton and Brantford, for Canada Mortgage and Housing Corp.
Non-residential projects underway in the region include major expansions in the health care sector, and millions of dollars spent on infrastructure improvements. A new rapid transit system is also being studied, which is expected to further benefit already improving inter-city travel. The city is working with Metrolinx, the provincial body responsible for expanding transit in the GTA and Hamilton area, and is awaiting a final recommendation for the project. Beyond industrial expansions, Hamilton is also seeing a marked increase in other types of businesses moving into the downtown area. Much of the employment growth, in fact, is taking place in creative services, education, professionalscientific and health care. CMHC says job prospects are expected to continue to improve, and Hamilton will likely fare better than other Ontario markets due to its increasingly diverse base of industries, which keep the labour market more balanced. Thanks to billions of dollars in infrastructure improvements around and within the city, as well as expanded GO Train services, the “new” Hamilton is becoming more accessible as well as desirable. Buyers can acquire more affordable property here and commute to Toronto, or other neighbouring communities such as Burlington, Oakville or Mississauga. An emerging condominium market provides buyers with an even more affordable entry into Hamilton. Developers see this potential and a number of new projects are underway from all of Losani Homes, Branthaven
Homes, Empire Communities, Multi-Area Developments, New Horizon Homes, Spallacci Homes and Country Green Homes, with many aimed at first-time buyers and priced accordingly. Hamilton also has plenty going for it in terms of culture and entertainment. It is home to the Royal Botanical Gardens, a major tourist attraction and significant local and regional horticultural, education, conservation and scientific resource. The city is also home to the Art Gallery of Hamilton, Ontario’s third largest public gallery. For sports enthusiasts, there’s the Hamilton Tiger Cats of the Canadian Football League, who play out of the new Tim Hortons Field, and the Hamilton Bulldogs of the Ontario Hockey League who play out of FirstOntario Centre (formerly Copps Coliseum). If living in the city is not exactly your favour, development is also leading to growth in adjacent areas such as Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek. Empire Communities, Homes by DeSantis, Losani Homes, Branthaven Homes, Mattamy Homes, Rosehaven Homes and other builders all have communities under way in these towns.
Neighbourhood Profile WESTDALE Westdale counts both a wildlife sanctuary of the Royal Botanical Gardens and the world-renowned education and research facility of McMaster University and Medical Centre within its boundaries. Lifestyle Considered one of the most walkable places in North America, credit is ultimately due to Westdale’s intentional design almost a century ago as Canada’s first master-planned community. Westdale remains the place many want to live, with tree-lined streets in distinctive, traffic-calming oval patterns. Vibe At the commercial heart is Westdale Village, complete with an Art Deco movie theatre that has been a date-night magnet since the era of silent films. Students, profs, moms and tots, couples and teens are all regulars at Westdale Village coffee shops. Meet the neighbours If you’re looking for trendy and artsy, Westdale might not be for you. This is a community where young families moved in decades ago and today they are empty-nesters enjoying visits from grandchildren. Families still make up the majority of new residents, with schools, parks and sports fields to support the lifestyle. In the area Buying a house in Westdale isn’t the best bargain in the city, but there are some available. You might consider a former student-occupied home, which can be more affordable, but be prepared to renovate to return it to a singlefamily residence. Trendy boutiques can be pricey, but mainstream shops and restaurants are competitive and affordable. Planes, trains & automobiles For those who need to get to and from Westdale, The Hamilton Street Railway offers the Bee-Line east to west. GO train and bus service leaves from the downtown GO Station, with access to Burlington, Oakville, Mississauga and Toronto. Hwy. 403 offers immediate access to Hamilton Mountain, up the Niagara Escarpment and on to Ancaster and Brantford or east to Burlington. The good, the bad & the rest Independent business is alive and well in Westdale Village. This vibrant, historic shopping district features more than 80 shops, services, cafes and restaurants on King Street West from Cline Street North to Sterling Street. Festivals take place through the year to draw even more into the local hotspots.
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 41
NOVEMBER 2016
Model Home Photo Compliments of Senator Homes | www.senatorhomes.com
Senator Homes is known for creating spectacular family homes at some of Southern Ontario’s most loved locations. You can see this superior level of quality for yourself when you tour the 4 designer decorated model homes at Havelock Corners in Woodstock.
Senator Homes has been featured as “Model HOME Of The Month” as seen in the New Home & Condo Guide model home calendar
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2.89 2.89
3.04
3.39
2.64
2.74
2.79 2.34
3.34 2.44
3.99 4.39
4.44 4.64
2.99 6.30op 3.19
2.84
3.39
2.39
2.59
3.24
3.49
3.69
3.79
3.14 3.35
3.25 3.5
3.95 3.7
4.39 4.3
4.64 4.35
2.69 3.14 6.30op 3.29 6.50op
2.14 3.09
2.34 3.39
2.59 3.89
2.49 2.45
3.09
3.39
3.89
4.49
2.79
2.69
2.49
2.69
2.48
2.84 6.30op 2.29 2.89
2.89
2.95
2.99
2.89
2.24 2.79
2.39 2.89
2.49 2.95
2.59 2.89
3.14
3.09
3.39
3.89
4.64
3.25 6.25op 2.84 6.30op 2.99 6.30op 2.8 2.95op 2.39
3.2
3.65
4
4.5
2.79
2.64
3.89
2.44
2.69
3.49
3.99
4.54
2.85
2.95
3.05
3.15
2.39
2.39
2.49
2.49
6.95op 4.55 6.45op 4 6.45op
2.7 6.95op
Equitable Bank HSBC Bank Canada
2.79
ICICI Bank Canada Manulife Bank
2.75 2.6
National Bank President’s Choice Finan Royal Bank TD Canada Trust Tangerine
n/a 6.70op 2.7 2.6 6.75op 2.6
4.45 6.20op 4.45 4.4 6.70op
3.14 6.75op
2.7
TRUST COMPANIES Community Trust Effort Trust Home Trust Investors Group Trust MTCC
n/a n/a 6.30op 2.25 n/a 2.9
6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op
OTHER FINANCIAL INSTITUTIONS Alterna Savings Comtech Fire C.U. First National Fin. LP IC Savings London Life Luminus Financial Meridian Credit Union
2.45 6.30op 2.45
2.7 6.50op n/a 6.50op 3.25 2.4
PACE Savings & C.U.
4 6.30op 6.2 6.40op 3.1 4.25 6.50op 4.2 6.30op
4 5 6.70op
Parama Credit Union
2.65
Steinbach Credit Union
2.25
ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice. R.O.R. = RATES ON REQUEST op = OPEN ----- = NOT QUOTING N/A = NOT AVAILABLE October 24, 2016. Prepared By http://www.FiscalAgents.com/mortgage/rates
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 43
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7
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19
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11
Advice | FUNDAMENTALLY SPEAKING
More than just a hashtag By Wayne Karl
MORE ADVICE ONLINE ypnexthome.ca/news/advice
THE NEXT FEW weeks are crucial in Canada’s housing market. No, it has nothing to do with the fall sales period, or any lull expected from the oncoming holiday season. It’s all about policy – seeing the real impact, over a longer period, of the latest round of changes to mortgage regulations – and what is to come from the federal government’s recent efforts to begin building a National Housing Strategy. Ottawa’s Let’s Talk Housing initiative (#LetsTalkHousing in social media vernacular) wrapped up consultations in late October, and is now working toward tabling the results on Nov. 22. For anyone expecting a full-on housing policy on that date – best not hold your breath. After consulting provincial bodies, industry experts and others – including everyday Canadians – Ottawa now faces a daunting task. As necessary and noble as the effort is, the near impossible challenge now is to come up with a national strategy that addresses the multiple and varied issues, and executes a vision that is equitable across differing economies, markets and conditions. From affordable housing to rental markets to homeownership, the issues are complex and far-reaching. Good luck. At least this time, the government had the good sense – as it should with a matter so comprehensive and serious – to consult with multiple sources for input and ideas on the future of housing in Canada. Topics
#
#
range from finance and data to social inclusion and sustainability. For an example of the opposite, take the latest round of mortgage rule changes. Introduced on Oct. 3 and taking effect Oct. 17, the regulations were intended to reduce housing activity, slow home price growth and mortgage indebtedness. They are also, however, making it more difficult for first-time buyers, at a time, in many markets, where it’s already difficult enough to get into homeownership. In Toronto, affordability is a serious issue, and these changes make it harder to buy a home. In Edmonton and Calgary, pile these new rules on top of an already sagging economy and housing market. Indeed, this latest round of rule changes reduce one risk but create another, says Canadian housing market economist Will Dunning. Subsequent effects could include a severe reduction in housing market activity and negative effects in the broader economy. “The government is aiming to reduce the risk of a housing market implosion,” he says. “The new policy is based on a future event that is possible, but has a low probability
#
of occurring – that in five years, mortgage interest rates could be more than two points higher than they are today. In so doing, it is creating a risk that is also possible, and seems to have a higher probability of occurring – that its policy could have severe negative effects for the housing market and the broader economy. It would be useful to have more public discussion on the trade-off of risks.” All of this foreshadows the challenge of developing a National Housing Strategy, when, in fact, a national housing market doesn’t exist. How to devise a policy that is fair and equitable across a country as vast as Canada, with regional economies and wildly varying real estate markets? Let’s Talk Housing is more than just a hashtag. It’s only the beginning of meaningful, ongoing discussion. Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl
NOVEMBER 5 - 19, 2016 | NEW HOME & CONDO GUIDE SWO 45
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NOW OPEN NEW AFFORDABLE & STYLISH LIVING IN RIVER MILL
NEW 30', 36', 43' & 50' DETACHED DESIGNS Our newest Cambridge community is now open. We invite you to visit us in River Mill, nestled by a tree line just north of Speed River. Look forward to an inspiring selection of Detached Homes, all thoughtfully designed to help you live in the beautiful style of your choosing. Close to all the essentials of modern living, choose the affordable, family-friendly ambience of River Mill.
36' HOME, THE SANDCHERRY ‘COLONIAL’, 2,280 SQ.FT.
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