Statistics Archives

Barrie Real Estate – Mortgage changes

The Government of Canada today announced changes to mortgage financing rules effective April 19th 2010. The lenders however, are likely to adopt the changes almost immediately so if you are in the process of thinking of buying a home, at the very least call your mortgage professional now and get pre-qualified. There are three main changes to mortgage financing rules and these are likely to affect the Barrie Real Estate market. Read the rest of this entry

Barrie Real Estate – Statistics Q4 2009

Hi all, buried in this blog you will find a link to the latest Q4 stats for the new home starts in the Barrie area. New home starts can be a good guide to the underlying health of an economy as builders typically will only build as orders are placed or on spec as they feel demand is likely to increase. However, you should also take in to account why housing starts may have fallen. It isn’t always the economy, it could be that there just isn’t any land available for the builders to build on. The Barrie area has seen a good recovery from last winters non existent real estate market. Certainly this was due in part to fiscal and monetary stimulus from government forces, however, I personally feel that a lack of new homes with continued inflow of buyers from Toronto and natural immigration caused a housing shortage. As you can see from these stats, the builders pulled back from building new homes, compounded by the fact that the supply of mid priced building lots dried up. So these numbers are encouraging as the immediate supply of building lots hasn’t really changed and the numbers are heading up. Coming in the next few years however, we may see a trend of increasing housing starts as Barrie has now annexed a good portion of Innisfil and hence has access to a lot more building land than it has done in previous years. On the flip side an increase in starts could dampen the move higher in resale prices as the supply side increases. Which ever way you look at it, any increase in housing starts is generally a positive for the region as a whole, just so long as the supply doesn’t become excessive beyond the amount that natural migration into the area can take up. If you would like to discuss this article or housing in the Simcoe area in general please don’t hesitate to call, regards, Ian Hocking, Sales representative @ Royal LePage First contact Realty.

Click on this link for the two page .pdf file supplied by courtesy of the Canadian Housing Mortgage Corporation (CMHC)

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