Fall 2018 | Volume 16, Issue 4

Expect an uptick in national home prices following sluggish first half of 2018

According to the Royal LePage House Price Survey* and Market Forecast Survey, home price appreciation slowed nationally in the second quarter of 2018, marked primarily by year-over-year price declines in the Greater Toronto Area (GTA).

The Royal LePage National House Price Composite1, showed that the price of a home in Canada increased 2.0 per cent year-over-year to $613,968 in the second quarter of 2018. When broken out by housing type, the median price of a two-storey home rose 0.8 per cent year-over-year to $720,504, while bungalows climbed 1.8 per cent to $512,979. Condominiums posted a significant price gain, rising 8.1 per cent year-over-year to $435,421. Looking ahead, Royal LePage forecasts an uptick of 1.9 per cent in home price appreciation over the next three months.

"We expect an uptick in sales volumes and prices during the second half of 2018,"said Phil Soper, president and CEO, Royal LePage. "The fundamentals have not changed; the economy is strong and unemployment is very low. We face inventory shortages in our major cities, with many more people looking for homes than the market has available. Upward pressure on prices will likely return to most markets during the third quarter."

In the second quarter of 2018, Ontario saw the most significant contrasts yet between home price appreciation rates in the surrounding Golden Horseshoe cities and beyond compared to central and suburban Toronto. Factors include a combination of buyers seeking affordable detached homes further out and retirees selling to release equity in their GTA property.

In Quebec, the Greater Montreal Area witnessed strong home price increases, supported by solid economic performance. In the second quarter, the aggregate price of a home in the Greater Montreal Area rose 5.9 per cent year-over-year — well over the 2.0 per cent aggregate price increase observed nationally. The last time that the region's rate of home price appreciation surpassed the national aggregate was in the second quarter of 20112, when the year-over-year increase in prices in the Greater Montreal Area reached 6.4 per cent, versus 4.7 per cent nationally.

British Columbia continues to see the highest home prices and appreciation rates in the country, including solid double-digit home price increases in several Greater Vancouver suburbs. Looking ahead, Royal LePage experts in the Lower Mainland, however, have observed slowing market conditions — a result of new lending regulations and the B.C. government's introduction of new tax measures targeting the housing market, combined with strained affordability.

To view the chart with aggregated regions and markets visit royallepage.ca/houseprices

For more information see royallepage.ca/mediaroom

* Powered by Brookfield RPS.

1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions. Beginning in the first quarter of 2018, seven real estate markets were added to the Royal LePage National House Price Composite. The new regions are smaller markets in Ontario, Alberta, Quebec and British Columbia. Due to the relative size of the markets, any change to the Royal LePage National House Price Composite is expected to be within 0.15 per cent.

2 According to historical data from RPS Real Property Solutions.

Fall tips for the perfect spring garden

Autumn is the perfect time to lay the groundwork for a gorgeous spring garden. Experts say this time of year is critical for how your yard will look year-round.

  1. Early in the fall, repair dead spots on your lawn by digging straight down, as deep as necessary to remove all the soil containing roots. Fill the hole with

  1. new soil and stamp down to turf level. Seed the area with a mix that matches your existing grass. Be sure to water regularly for the seeds to germinate and sprout.

  2. For bountiful flowerbeds, combine one part blood meal, one part bone meal, and one part wood ash to scatter over bulb beds for beautiful blooms come spring.

  3. Fall is the ideal time to plant a deciduous tree — the soil is still warm and holds oxygen that will encourage root growth. Plant your tree about six weeks before the deep frost. Be sure to prepare a large hole, almost five times the width of the root ball.

  4. Add a little lighting to extend the beauty of your garden through the winter months. Light pale trees such as birches with back floodlighting. Sling tiny lights over a shrub or tree to give your winter garden a whimsical aesthetic.

DIY quick & easy home repairs

No matter what your level of expertise, there are plenty of small fixes you can do around your home with relative ease. Our experts have compiled advice for four common repairs that any homeowner can do.

Fill cracked drywall. Using a taping knife, smooth a piece of nylon drywall tape over the crack, working from the centre toward the edges. Cover the tape with a thin layer

of joint compound and let dry. Apply a second coat, feathering at the edges. Sand, prime, and repaint the area.

Silence squeaky floors. Scrape the joints between your floorboards to remove dirt, and then sprinkle a little baby powder between the squeaky ones. Bounce up and down on the area to work the powder into the joint.

Repair a sticky sliding glass door. To clean the tracks, vacuum each door by moving it to one side and then the other. Afterwards, clean the tracks with denatured alcohol. Spray the upper track with silicone spray and rub paraffin wax along the lower one.

Re-caulk a bathtub. Remove the old caulk. Tape above and below the joint that needs caulking and fill the tub with water to weigh it down and open the joint. Squeeze a thin bead of caulk along the open joint. Use your index finger to smooth out the caulk; remove tape and wipe away excess with a damp rag. Let it dry according to the products instructions.

Popular sustainable flooring options

Colour, surface texture, room usage and price all come into play when homeowners commit to a flooring style. One thing homeowners don't have to compromise on is their selection of green options.

Here is a list of popular products:

Salvaged wood. Buying reclaimed lumber continues to get easier for those shopping online. In some instances, it's even less expensive relative to the cost of new hardwoods.

Bamboo. High abundance and a natural look make sustainable bamboo an attractive flooring option. Bamboo grows to maturity in three to five years, about a quarter of the time it takes to grow trees used for hardwood. It's great choice for a room with low humidity.

Linoleum. Unlike vinyl flooring, which is a synthetic product made of chlorinated petrochemicals, linoleum is manufactured from natural compounds that include linseed oil, cork dust, various tree resins and ground limestone. With natural, renewable elements used in manufacturing, the popularity of this eco-friendly flooring option continues to rise.

Cork. Like bamboo, cork is quickly renewable. Cork has antimicrobial properties to reduce allergens, is fire retardant and provides a comfortable feel under foot. Cork flooring can be finished in a variety of paints and stains, complementing any room setting.

Celebrating 20 years of restoring hope and rebuilding lives

In 1998, the Royal LePage Shelter Foundation was established to support women's shelters and domestic violence prevention programs. Not content to simply write a cheque, Royal LePage set out to embed a philanthropic culture within its offices across Canada, engaging Royal LePage professionals to support close to 200 women's shelters in the communities in which they live and work.

Since that time, Royal LePage sales representatives, broker/owners and staff have helped to raise more than $27 million for the Royal LePage Shelter Foundation, making it Canada's largest public foundation dedicated exclusively to funding programs that aim to put an end to domestic violence. Royal LePage covers the foundation's operating costs so 100% of all donations are directed to the cause.

Royal LePage Shelter Foundation supporters continue to have good reason to contribute. Did you know?

  • Half of all women in Canada over the age of 16 have experienced at least one incident of sexual or physical violence.

  • Each year in Canada, an estimated 362,000 children witness or experience family violence.

  • On average, every six days in Canada, a woman is murdered by her current or former intimate partner.

This is why women's shelters serve a vital role in our communities and why Royal LePage offices and agents raise funds for their local women's shelter in a variety of ways, including:

  • donating a portion of their commissions;

  • organizing unique and entertaining fundraising events;

  • donating and bidding generously in the company's legendary silent and live auctions; and

  • participating in the National Garage Sale for Shelter, a one-day charity garage sale which marked it's 10th annual event this past Spring and which has now raised $3 million.

Contributions to the Royal LePage Shelter Foundation help women find safety, work through their traumatic experiences, and build confidence and self-esteem. The shelters we support help women create lives for themselves and their children that are free from violence and filled with hope rather than fear.

The Royal LePage Shelter Foundation also raises the profile of services available to women seeking help. We are proud to support initiatives like sheltersafe.ca, a 24/7 online connection to shelters across Canada, which serves thousands of women annually. In addition, the Royal LePage Shelter Foundation supports programs that help youth develop healthy and respectful relationships, an important step in preventing intimate partner violence.

In talking about an issue that is too often hidden behind closed doors, Royal LePage professionals bring awareness to the impact of domestic violence and let survivors know that there is hope for healing and the chance to lead a safer and happier life.

For more information on the Royal LePage Shelter Foundation, please visit royallepage.ca/shelter.


All offices are independently owned and operated, except those marked as indicated at royallepage.ca/disclaimer. Not intended to solicit currently listed properties or buyers under contract. The above information is from sources believed reliable, however, no responsibility is assumed for the accuracy of this information.

© 2018 Brookfield Real Estate Services Manager Limited. All rights reserved.

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