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Wednesday , 29 March 2017

Monthly Archives: June 2016

Recreational property markets thriving; main buyers, Gen X couples with kids

As in the town, so in the country: sales volumes increased over last year in the majority of Canada’s recreational property markets. The quintessentially Canadian cottage lifestyle is as popular as ever. Retiring to a rustic cottage or fully-fitted home by the lake or seaside is still the dream of many Canadians of a certain age. But as in previous generations, most buyers of cottages, cabins and chalets are families with children, in which the parents are aged 36 to 51: Generation X. They outnumber the Baby Boomers in this market by about two to one, according to a report on the recreational property market from Royal LePage. The predominance ... Read More »

Home renovation spending to increase, emphasis on basic maintenance: CIBC

Fewer Canadian homeowners plan to renovate in the next twelve months than did in 2015, but they will spend more on average than renovators did last year. More than one-third (37 per cent) of homeowners, roughly 4 million individuals, will spend around $13,000 each this year, says CIBC, around $52 billion in total. The big renovation spending continues a trend that has been gaining strength for about ten years now. According to Scotiabank Economics, home renovation is the fastest growing component of residential investment in Canada, faster even than new home construction and home re-sale spending. People’s reasons for renovating vary, of course, but broadly fall within two categories: preparing ... Read More »

Housing less affordable in Canada’s two hot spots, elsewhere not so bad: RBC

Other than in parts of British Columbia and Southern Ontario, housing affordability is not a major obstacle to home ownership in Canada. While affordability did deteriorate in the first quarter of 2016, RBC says that the deterioration was “minimal” for the most part, and affordability measures are in line with historical norms. In some cities—Winnipeg, Regina, Saskatoon—affordability improved. Nevertheless, Vancouver and Toronto cannot be ignored. These two housing markets “move the national needle,” says RBC in its latest Housing Trends and Affordability report. Their influence on the national affordability measure is strongest in the single detached category, raising that measure to an eight-year high of 52 per cent nationally. The ... Read More »

New low-rise homes scarcer than ever in the GTA as new condo sales soar in May

There have never been so few newly built low-rise homes for sale in the GTA as there were in May. The Building Industry and Land Development Association (BILD) reports that the inventory of new detached, semi-detached and townhomes for sale fell below 2,000 for the first time last month. Whereas ten years ago there were 16,420 such homes available, this year there were just 1,985. In all there were 2,091 low-rise homes sold in May, a drop of 15 per cent compared to one year ago. May sales were still above the ten-year average, however, and were, in fact, the third-highest in ten years. That decline in monthly sales was ... Read More »

Shoppers want help from sales staff, many sales lost due to failure to connect: study

One thing is clear: not all sales people are equal. Even a person with no people or sales skills whatsoever could stand behind the counter in a local convenience store, for example, and take money from the customers buying their milk and lottery tickets and cigarettes. There is usually little or no interaction between customer and sales person, who is often the store owner. A robot could do this job, and probably will before long. But selling more complex products, like advanced electronics, cars, even condos—that’s where the real value of the sales person becomes clear. A new study of shoppers’ behaviour when they enter stores reveals some interesting facts ... Read More »

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