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  #661  
Old Posted Mar 8, 2017, 2:04 PM
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SteelTown SteelTown is online now
It's Hammer Time
 
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My supervisor put her house up for sale, she made the asking price higher than typical and yet she got $10K more than she was asking and sold within a day. She lived in the old section of Ancaster (helps that it was the only house up for sale in the area). Now she's taking the money and moving closer to Lake Erie and working part time until retirement.

Seems like the only sure way to get extra retirement funds is to sell your house nowadays.
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  #662  
Old Posted Apr 24, 2017, 1:49 PM
thistleclub thistleclub is offline
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Quote:
Originally Posted by Zmonkey View Post
Is there any report that just deals with the Hamilton condo market?
I am leasing mine out ever since I went to a house and want to get a feel where people think that market is going
If you scroll down into RAHB’s monthly market reports you'll find municipality-specific breakdowns of sales activity for Hamilton and Burlington.
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  #663  
Old Posted Apr 26, 2017, 3:04 PM
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Torontonians behind a quarter of Hamilton housing sales: study
(Hamilton Spectator, Mark McNeil, Apr 26 2017)

Nearly one quarter of Hamilton area homes sold in the first three months of the year were purchased by buyers from the Greater Toronto Area, a new analysis of the local marketplace has found.

RE/MAX — which sells about 60 per cent of the houses in Hamilton-Burlington-Grimsby — crunched its numbers in its Spring Market Trends Report to find that 23 per cent of the realtors were from the Greater Toronto Area.

Conrad Zurini, broker of record for RE/MAX Escarpment Realty, says the company believes in almost all cases the realtor and the purchaser come from the same city. It's not possible to track the former address of buyers, but real estate transaction forms do contain the name of the selling realtor and the city he or she comes from.

Zurini says it's not a perfect science — and not something that has been widely done in the past — but it does give insight into a major trend in Hamilton that goes some distance to explain why it is so hard to find a home.

When a Toronto buyer purchases a Hamilton house, he says, it's a net loss to the local inventory, because that purchaser never puts a local home back into the market.

Moreover, Zurini said: "Increasingly, these are (Toronto) investors looking to purchase townhomes and small single-detached homes as rental properties (in Hamilton)."

He pointed to CMHC stats from last year that show a slight jump in the vacancy rate to 3.8 per cent from 3.4 per cent, compared to 2015.

He suggested a frenzy by Toronto buyers to purchase investment properties could be adding an inventory of new rental properties to the marketplace faster than demand.


Read it in full here.
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  #664  
Old Posted Apr 26, 2017, 6:42 PM
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Berklon Berklon is offline
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^ It really isn't surprising.

I went to plenty of open houses over the last year, and there was always someone from the GTA at the viewing.
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  #665  
Old Posted Oct 23, 2017, 12:20 PM
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Hamilton available 1 bedrooms up to $1020 (up 7.4% year on year) and 2 bedrooms up to $1250 (up 13.6% year on year). Toronto 1 bedrooms were up to $1940 (15.5% year on year) so that differential is even bigger. Too bad they don't have any Burlington or Oakville numbers.


Canada’s Largest Cities See Big Spikes In Rental Rates
http://www.huffingtonpost.ca/2017/10...es_a_23250150/
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  #666  
Old Posted Nov 28, 2017, 5:10 PM
thistleclub thistleclub is offline
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Originally Posted by drpgq View Post
Hamilton available 1 bedrooms up to $1020 (up 7.4% year on year) and 2 bedrooms up to $1250 (up 13.6% year on year). Toronto 1 bedrooms were up to $1940 (15.5% year on year) so that differential is even bigger. Too bad they don't have any Burlington or Oakville numbers.

Canada’s Largest Cities See Big Spikes In Rental Rates
http://www.huffingtonpost.ca/2017/10...es_a_23250150/
They actually do have Burlington numbers. Headline writers lazily treat City as equivalent to CMA, which it is obviously not. And even within markets there are anomalies.

Private Apartment Average Rents, Average % Increase, Oct 2017 vs Oct 2016

West End 1.1% (to $1,003)
Downtown Core 2.6% (to $937)
Central 6.6% (to $919)
Central East 3.1% (to $793)
East End 5.9% (to $1,009)
Mountain 9.5% (to $930)
Wards 1-8 4.9% (to $934)
Wards 9-10 + Grimsby 2.6% (to $874)
Wards 11-15 5.2% (to $1,055)
Burlington 6.9% (to $1,351)
Hamilton CMA 5.5% (to $1,020)

As of Oct 2017, average rents for 1BR units in Hamilton were almost all below $900. Burlington's average 1BR rent was $1,244, a 7.1% YOY increase. Across the Hamilton CMA, average 1BR rents increased 4.1% YOY to $905 ($843 in Wards 1-8, a 4.1% bump).

As of Oct 2017, average rents for 2BR units in Hamilton were almost all below $1,100. Burlington's average 2BR rent was $1,366, a 5.6% YOY increase. Across the Hamilton CMA, average 2BR rents increased 6.4% YOY to $1,103 ($1,026 in Wards 1-8, a 6.7% bump).

Fun fact: Downtown Hamilton contains almost a quarter of all apartment units in the entire Hamilton CMA, and over 30% of the CMA's 1BR units.

Source: CMHC Hamilton CMA Rental Market Report

Oakville’s data is covered in the CMHC GTA Rental Market Report:

Private Apartment Average Rents, Average % Increase, Oct 2017 vs Oct 2016

Batchelor 0.7% (to $984)
1BR 3.5% (to $1,257)
2BR 2.3% (to $1,456)
3BR+ 0.1% (to $1,737)
Total 1.1% (to $1,394)
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Last edited by thistleclub; Nov 29, 2017 at 2:12 PM.
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  #667  
Old Posted Dec 18, 2017, 7:25 PM
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Globe & Mail, January 7, 2006: Go west, young artist

Globe & Mail, December 17, 2017: Hamilton doesn’t need real estate bargain-hunting Torontonians
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  #668  
Old Posted Dec 19, 2017, 1:18 PM
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Wow it is almost 12 years since the first Globe article. I can sort of understand the sentiment in the second article.
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