BILD

BILD applauds today’s federal government housing announcement

Retrieved on: 
Tuesday, April 2, 2024
GTA, Tax, Learning, Federation, Construction, Interview, Freezing, Housing, BILD, Water, Government, Human, Renewable energy

Toronto, April 02, 2024 (GLOBE NEWSWIRE) -- Greater Toronto Area, April 2, 2024 – The Building Industry and Land Development Association (BILD) applauds the federal government for their housing supportive announcement earlier today and notes that the top up of $400 million to the Housing Accelerate Fund and $6 billion for a new Housing Infrastructure Fund is exactly what is needed to support housing all Canadians.

Key Points: 
  • Toronto, April 02, 2024 (GLOBE NEWSWIRE) -- Greater Toronto Area, April 2, 2024 – The Building Industry and Land Development Association (BILD) applauds the federal government for their housing supportive announcement earlier today and notes that the top up of $400 million to the Housing Accelerate Fund and $6 billion for a new Housing Infrastructure Fund is exactly what is needed to support housing all Canadians.
  • “This commitment by the federal government to invest in critical infrastructure is vital to unlocking housing supply to meet Canada’s rapidly growing population, enabling more homes to be built and will help address the housing affordability crisis.”
    The conditions in the federal government’s announcement that municipalities must commit to implementing a three-year freeze on increasing development charges will also assist in further addressing affordability.
  • Coupled with the provincial government’s housing infrastructure investment announcement in late March, BILD acknowledges the tremendous commitment from the federal and provincial governments to enhancing housing-supportive infrastructure, particularly water and wastewater.
  • BILD looks forward to learning about additional measures to address housing supply and affordability, as further details of the federal government’s Housing Plan are released in the coming days.

New home inventory in the GTA expands in February in anticipation of renewed market activity this spring

Retrieved on: 
Monday, March 25, 2024
Research, Construction, Interview, Altus Group, BILD, Total, Human, Cryptocurrency

“GTA new homes sales in February remained soft,” said Edward Jegg, Research Manager with Altus Group.

Key Points: 
  • “GTA new homes sales in February remained soft,” said Edward Jegg, Research Manager with Altus Group.
  • There were 374 single-family home sales in February, up 103 per cent from February 2023 and 66 per cent below the 10-year average.
  • This represents a combined inventory level of 12 months, based on average sales for the last 12 months.
  • *Altus Group should be credited as BILD’s official source of new home market intelligence.

As anticipated from a slow December, GTA new home sales soft in January as buyers remained tentative

Retrieved on: 
Monday, February 26, 2024
Total, Research, BILD, Bank, Altus Group, Human, Condominium, Construction, Interview

“Pent up demand continued to accumulate with buyers taking a wait-and-see attitude,” said Edward Jegg, Research Manager with Altus Group.

Key Points: 
  • “Pent up demand continued to accumulate with buyers taking a wait-and-see attitude,” said Edward Jegg, Research Manager with Altus Group.
  • There were 345 single-family home sales in January, up 92 per cent from January 2023 and 78 per cent below the 10-year average.
  • This represents a combined inventory level of ten and a half months, based on average sales for the last 12 months.
  • The benchmark price for new condominium apartments was $1,052,474, which was down seven per cent over the last 12 months.

Housing study: Reported inventories overstate supply of “shovel ready lots” - use it or lose it policies must be informed by facts

Retrieved on: 
Thursday, February 22, 2024
MCIP, Greater Toronto Area, KPEC, BILD, City, Data collection, Interim, Human, PLE, ADU, Region, GTA, Policy, Construction, Interview, RPP, Housing, Water, Civil engineering

Housing completions are also at a 33-year high, underscoring that claims of ‘sitting of supply’ do not match the reality on the ground,” said Justin Sherwood, SVP Communications & Stakeholder Relations at BILD.

Key Points: 
  • Housing completions are also at a 33-year high, underscoring that claims of ‘sitting of supply’ do not match the reality on the ground,” said Justin Sherwood, SVP Communications & Stakeholder Relations at BILD.
  • Based on the goal of achieving 150,000 units per year, this represents only 2.2 years of supply.
  • Claiming 150,000 of additional housing would arise from the conversion of existing housing stock to multiplexes, basement units, and accessory dwelling units (ADU).
  • KPEC’s areas of focus include areas where the fields of land use planning, urban economics and municipal finance overlap with City building.

GTA new home market sees low sales in December, slow 2023 harbinger of lower housing starts in 2024

Retrieved on: 
Thursday, January 25, 2024
BILD, Total, GTA, Housing, Interview, Altus Group, Human, Construction, Research

There were 154 single-family home sales in December, up six per cent from December 2022 and 70 per cent below the 10-year average.

Key Points: 
  • There were 154 single-family home sales in December, up six per cent from December 2022 and 70 per cent below the 10-year average.
  • This represents a combined inventory level of nine and half months, based on average sales for the last 12 months.
  • “Given that housing starts lag pre-construction sales by as much as two years, we can expect that the low level of sales in 2023 will result in lower housing starts in the future.
  • In fact, we are already seeing the pace of housing starts in the GTA beginning to decline.

Macquarie Asset Management announces plan to consolidate brands for US wealth investment solutions

Retrieved on: 
Wednesday, January 17, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, ETF, STAX, Hedera, Macquarie Group, BILD, Asset management

Today, Macquarie Asset Management announced plans to transition to a unified brand structure in the US wealth channel, featuring “Macquarie” as the flagship product brand for all investment solutions.

Key Points: 
  • Today, Macquarie Asset Management announced plans to transition to a unified brand structure in the US wealth channel, featuring “Macquarie” as the flagship product brand for all investment solutions.
  • This initiative follows the launch of the firm’s first three ETFs, which leverage the Macquarie brand: Macquarie Energy Transition ETF (PWER), Macquarie Global Listed Infrastructure ETF (BILD) and Macquarie Tax-Free USA Short Term ETF (STAX).
  • Macquarie Asset Management will also be optimizing the client experience through updates to its mutual fund line-up.
  • To learn more about Macquarie Asset Management’s 2024 outlook for US wealth and retail investors, click here .

GTA new home market continues flat in November; increase over prior year

Retrieved on: 
Thursday, December 21, 2023
Construction, Interview, Altus Group, GTA, Research, Housing, Total, BILD, Human, Condominium, Cryptocurrency

“The inventory of new homes available to purchase shrank in November,” said Edward Jegg, Research Manager with Altus Group.

Key Points: 
  • “The inventory of new homes available to purchase shrank in November,” said Edward Jegg, Research Manager with Altus Group.
  • There were 384 single-family home sales in November, up 41 per cent from November 2022 and 62 per cent below the 10-year average.
  • The GTA is on the cusp of a balanced market from a month’s inventory perspective.
  • With total inventory actually decreasing month over month, the balanced market from a month’s inventory perspective is a factor of low sales, not more product coming to market.

Can’t build housing in the city, can’t build housing at the edge of the city — Ontario has no coherent plan to increase housing supply

Retrieved on: 
Thursday, December 14, 2023
Tax, Construction, Interview, Golden Horseshoe, Government, City, Housing, BILD, Human, OPA, Growth, GGH, Employment, Renewable energy

“Since early fall there has been a series of government decisions that are effectively undermining the ability of the industry to add housing supply for future growth.

Key Points: 
  • “Since early fall there has been a series of government decisions that are effectively undermining the ability of the industry to add housing supply for future growth.
  • The city’s plans included 24 employment conversions that could accommodate 8,000 new housing units.
  • In addition, based on BILD mapping, none of the city’s employment conversions are near transit, meaning the resulting housing will not be transit supportive.
  • This is simply the latest in a growing list of decisions made by the province that are undermining the provision of housing and employment space supply in Ontario.

Provincial goal of building 1.5 million homes will not be realized without adequate land supply

Retrieved on: 
Monday, December 11, 2023
Economic development, Construction, Policy, GTHA, Interview, MGP, Golden Horseshoe, Government, GTA, City, Housing, BILD, Human, Growth, GGH, Population growth

This will jeopardize the provincial objective of building 1.5 million new homes and undermine efforts to address housing supply and affordability.

Key Points: 
  • This will jeopardize the provincial objective of building 1.5 million new homes and undermine efforts to address housing supply and affordability.
  • “We are already in a housing supply deficit,” said Dave Wilkes, BILD President and CEO.
  • Looking forward to 2051, with even higher targets for high-density apartments, we can anticipate this shortfall to increase.
  • Following the reduction of land supply by the 2023 provincial “resetting” of official plan approvals, the housing shortfall could increase to 206,800 grade-related homes (10,400 ha) plus any shortfall in apartment growth.

Minister Freeland’s inaction jeopardizes 128,000 new units of purpose-built rental housing supply coast to coast

Retrieved on: 
Tuesday, November 28, 2023
PBR, Construction, Interview, Sale, Government, GTA, Housing, BILD, Human, Population growth, HST, Property management

This, despite the fact that PBR development companies have pledged to reinvest any savings from current projects realized from an extension into new rental housing projects, further increasing much needed rental supply.

Key Points: 
  • This, despite the fact that PBR development companies have pledged to reinvest any savings from current projects realized from an extension into new rental housing projects, further increasing much needed rental supply.
  • “Virtually every PBR project coast to coast is struggling under very harsh economic conditions.
  • The companies building these 128,000 new rental units are facing the stark choice of halting the project, or converting what would have been rental units to condominiums for sale.
  • Effectively the government’s decision not to extend the exemption to rental units under construction jeopardizes the addition of near-term supply.