Press Release - Sales Statistics for the Montreal Metropolitain Area

Press Release

QFREB

Centris Residentail Sales Statistics for the Montréal Metropolitain Area

Île-des-Sœurs, April 12, 2013

According to the real estate brokers’ provincial database, there were 9,927 residential sales transactions in the Montréal Metropolitan Area in the first quarter of 2013, an 18 per cent decrease compared to the first quarter of 2012, indicated the Québec Federation of Real Estate Boards.

“We’re still feeling the effects of the new mortgage rules introduced last summer,” said Diane Ménard, Vice-President of the GMREB Board of Directors and spokesperson for the Québec Federation of Real Estate Boards (QFREB) for the Montréal area. “Since the tightening of the rules, this has been the third consecutive quarterly decrease in sales in the Montréal area,” she added.

All property categories and all geographic areas were affected by the sales slowdown in the first quarter of 2013. The North Shore fared best with an 11 per cent decrease in sales.

The median price of single -family homes in the Montréal area increased by 1 per cent to reach $272,000. The median price of condominiums remained stable at $220,000 and that of plexes grew by 2 per cent, reaching $420,000, compared to the first quarter of 2012.

The number of properties for sale increased by 10 per cent in the first quarter of the year, mainly due to a sharp increase in the supply (25 per cent) of condominiums.

“Buyers now have the upper hand on the Montréal condominium market, for the first time in 15 years,” said Paul Cardinal, Manager, Market Analysis, at the Québec Federation of Real Estate Boards. “In general, sellers of condominiums must now be more patient as the average selling time reached 108 days in the first quarter of 2013, 18 more days compared to one year earlier,” he added.

Province’s Real Estate Market Slows in First Quarter of 2013

According to the real estate brokers’ provincial database, there were 18,939 residential sales transactions in the province of Québec in the first quarter of 2013, a 16 per cent decrease compared to the first quarter of 2012, indicated the Québec Federation of Real Estate Boards (QFREB).

The decrease in sales was spread across all of the province’s metropolitan areas and most of

Its smaller urban centres. Only the agglomerations of Rouyn-Noranda (+25 per cent), Salaberry-

de-Valleyfield (+6 per cent) and Shawinigan (+6 per cent) bucked the trend and posted an increase in sales. In contrast, the agglomerations of Sept-Îles (-36 per cent), Val-d’Or (-27 per cent) and Drummondville (-28 per cent) registered the largest decreases in sales.

The median price of single-family homes across the province stood at $225,000 in the first quarter of the year, only $1,000 more than in the first quarter of 2012. The largest price increases for single-

family homes were in the agglomerations of Val-d’Or (+15 per cent), Saint-Lin-Laurentides (+8 per cent

), Saint-Hyacinthe (+8 per cent) and Sept-Îles (+7 per cent). Among the Census Metropolitan Areas (CMAs), Saguenay registered the largest increase in median price of single-family homes, at 4 per cent.

As for condominiums, the provincial median price reached $208,000 in the first quarter of 2013, up 1 per cent compared to the same period in 2012. The largest price increases were in the agglomerations of Granby (+13 percent) and Saint-Hyacinthe (+8per cent), as well as in the Québec City CMA (+7 per cent.

The number of properties for sale increased for a twelfth consecutive quarter. There were an average of 70,239 properties listed on the Centris ®system in the first quarter of 2013, a 7 per cent increase compared to the first  quarter of last year.  “The increase in supply and the decrease in sales resulted in an easing of market conditions in most urban centres, which translated into smaller price increases and longer average selling times,” explained Paul Cardinal, Manager of the Market Analysis Department at the QFREB.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization that brings together close to 11,000 real estate broker members. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.

About the Québec Federation of Real Estate Boards

The Québec Federation of Real Estate Boards is a non-profit organization composed of Québec's 12 real estate boards and more than 14,000 real estate brokers who are members. Its mission is to promote and protect the interests of Québec’s real estate industry so that the boards and their members can successfully meet their business objectives.

About Centris®

Centris ® , a division of the Greater Montréal Real Estate Board, offers technology resources to Québec’s 12 real estate boards and their 14,000 real estate brokers.  Centris.ca is Québec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address.

 http://www.fciq.ca/pdf/Communiques_presse/q1_2013_mtl_a.pdf

 http://extranet.centris.ca/MONTREAL/Upload/STATSCENTRIS_MARCH2013.pdf

Royal LePage Launches New Website to Make Home Buying Easier for Canadians

• April 16, 2013

Teams up with Google to deliver state-of-the-art search experience for extensive Canada-wide database of multi-brand property listings

TORONTO, ON, April 16, 2013 – Royal LePage Real Estate Services (Royal LePage) today launched a new, fresh, feature and content-rich website (www.royallepage.ca), working with Google for its leading edge technologies and Plastic Mobile, a leading creative agency.
“Consumers are rightfully demanding that businesses provide them with more useful information online and superior user experiences. When it comes to the business of helping Canadians buy and sell homes, Royal LePage is listening,” said Phil Soper, president and chief executive, Royal LePage Real Estate Services.  “This is an exciting time for both the company and consumers. The new www.royallepage.ca offers a dramatically different home-search experience. Faster, more intuitive, and with much greater flexibility. Browsing for homes has never been this enjoyable.”
With the recent introduction of the Canadian Real Estate Association’s Data Distribution Facility (DDF), which facilitates the sharing of co-operating brokers’ property listings, the Royal LePage website now boasts close to 100,000 property listings, doubling its historical listings inventory.  By integrating DDF into the new website, Royal LePage is creating the most consumer-friendly home for real estate listings in Canada. The site will contain listings from multiple brands, not just Royal LePage, ensuring that consumers get the information and experience they want all in one place.
“Through an agreement with the Canadian Real Estate Association, the number of homes listed for sale on www.royallepage.ca has increased dramatically,” continued Mr. Soper. “These tens of thousands of new listings are complemented by richer property data and insightful information about the neighbourhoods themselves.”
To ensure a user experience that is second-to-none, Royal LePage is using some of Google’s renowned technologies like Google Maps and Street View, and its new, innovative and industry-leading cloud-based services, which will ensure site speed, accessibility and reliability. The site also employs Google’s experimental search feature connected to Google Places, which allows consumers to search for homes, not only using standard criteria, but also local landmarks.
“We’re thrilled to be working with Royal LePage,” said Jim Lambe, Google’s head of Enterprise for Canada. “By leveraging Google’s cloud-based services, Royal LePage will be providing a best-in-class experience for consumers.”
The new website also delivers valuable neighbourhood information tailored to, and conveniently displayed with, each property listing.  Most properties will have a Walkscore® ranking, neighbourhood photos and descriptions, and an overview of local amenities, as well as other property listings available in the neighbourhood. The site will be updated regularly to ensure consumers always get up-to-date information.
Given the proliferation of devices, from smart-phones to tablets to laptops with large screen monitors, the website has been designed in a responsive fashion so that it renders the right size of display for each device automatically, further improving the user experience.  It is also highly visual with large buttons and concise text to appeal to the tablet user.
“We are always excited to partner with great brands like Royal LePage who continue to be leaders in their space by embracing new technologies like touch and mobile. As more and more people look to varied devices to gather information anywhere, on the go, it made sense to create a site that’s responsive across myriad platforms,” said Melody Adhami, president and chief operating officer of Plastic Mobile.
“Before Canadians take the big step and buy a home, they seek as much information as possible about properties in the neighbourhoods they’re considering,” said Soper. “With the help of our strategic partners and the latest technologies, Royal LePage has enabled consumers to take their home-search research to a whole new level.”

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of 14,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s & children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.

http://www-c.royallepage.ca/news/royal-lepage-launches-new-website-to-make-home-buying-easier-for-canadians/

En passant, nous ne sommes jamais trop occupés pour vos references!

By the way, we’re never too busy for your referrals!

Diane and Paul Laflamme

Courtiersimmobilier / Real Estate Brokers

Royal LePage Village

Hudson, St-Lazare, Montérégie Ouest, West Island, Montréal

472B rue Main, Hudson, QC J0P 1H0

Email: dplaflamme@videotron.ca

Tel: Bureau:  450.458.5365

Cell: 514.715.4514

Fax: 450.458.3394

Despite Challenges, Canada’s Generation Y Still Plan to Own Homes, According to Royal LePage National Survey

New mortgage regulations and current home prices seen as obstacles by
Generation Y

TORONTO, ON, March 20, 2013 – Although there are genuine hurdles to owning a home for Canadians, a new Royal LePage Real Estate survey shows that Generation Y (born between 1980 and 1994) and Baby Boomers (born between 1947 and 1966) still strongly desire a house of their own.
The survey conducted by Leger Marketing found that four-in-five (80.9 per cent) of the Generation Y sample indicated that they have plans to move to another primary residence at some point in the future, with significant proportion (39 per cent) stating that they have a move planned at some point in the next two years. Baby Boomers were less interested in moving, with 56.6 per cent stating that they currently have no plans to move to another residence.
“Baby Boomers have built homes for themselves. They are established in their neighbourhoods and their residences have become a place of happiness for family and friends,” said Phil Soper, CEO of Royal LePage Real Estate. “It’s their children that are seeking to create a similar atmosphere of their own, even though new impediments exist for this younger generation.”
While Generation Y is more likely to rent their primary residence at this stage in their lives, they do not see this as desirable long-term solution. An overwhelming 85.7 per cent disagreed with the statement that “I do not desire to own a property in my lifetime as renting is preferable to me,” including 90.5 per cent of Quebecers. British Columbians in the same age group were among the most open to renting, with one-in-five (21.4 per cent) saying they prefer renting over home ownership.
Of those who are planning a move, 55.1 per cent of Generation Y and 60.1 per cent of Baby Boomers intend to purchase their next primary residence. While the majority prefers to purchase their next home, a sizeable proportion of Generation Y (32.6 per cent) says they plan to rent. When examined regionally, there are some interesting divergences in intentions on buying versus renting. For instance, Generation Y in the Prairies and Quebec (62.6 and 61.3 per cent, respectively) intend to purchase their next primary residence. On the other hand, British Columbians in the same age group are less likely to become home buyers, with 38.3 per cent stating that they intend to rent their next primary residence.
Regardless of intent to move or not, Canadians remain confident in the sturdiness of the real estate market. Trust in the value of real estate remains very high amongst Canadians young and old. The majority of respondents from both groups stated that they see real estate as a sound investment, including 80.3 per cent of Generation Y and 88.7 per cent of Baby Boomers. Only approximately one-in-ten (8.5 per cent and 12.8 per cent, respectively) from either group did not believe that real estate was a sound investment.
“Across locations and ages, Canadians are investing in their future and they see value in real estate,” said Soper.
While interest in home ownership remains high, potential home buyers from Generation Y face a number of regulatory and financial barriers. For instance, the survey found discontent among Generation Y about recent changes made to mortgage rules. Just under half of respondents (45.8 per cent) said that the new rules will affect their ability to purchase a home to some or a large extent. A much smaller proportion (20.8 per cent) of Baby Boomers was concerned about the effect of the recent regulatory changes to mortgages.
Home affordability was also seen by many as a major challenge standing in the way of home ownership by both Generation Y and Baby Boomers. When asked, 72.4 per cent of Generation Y and 67.8 per cent of Baby Boomers agreed with the statement “I desire to own a property in my lifetime, but I am pessimistic about my ability to own a home because of the current house price affordability.” British Columbians of Generation Y were particularly pessimistic, with 86.1 per cent agreeing with this statement. Quebecers were more optimistic with 39.9 per cent disagreeing with this statement.
Down payments on real estate also represent a challenge to Generation Y homebuyers, many of whom are entering the real estate market for the first time. Almost two-thirds (63.8 per cent) of Generation Y respondents plan to put down less than 20 per cent as a down payment on a new property. The majority of funds for down payments from Generation Y homebuyers (an average of 67 per cent) will come from a combination of savings, RRSP contributions and gifts from family. On average only 27 per cent of the funds for a Generation Y down payment will come from a sale of the current residence. The trend is opposite for Baby Boomers, where almost three-quarters (73 per cent) of their down payment will come from the sale of their current residence.

Royal LePage Baby Boomer and Generation Y Survey
	Generation Y (1980 – 1994)	Baby Boomers (1947 – 1966)
Do you plan to purchase or rent your next primary residence?
Purchase	55.1%	60.1%
Rent	32.6%	18.0%
Other	0.8%	3.2%
Don’t know	11.5%	18.7%
To what extent have the new mortgage rules affected your ability to purchase a home?
To a large extent	12.5%	6.9%
To some extent	33.3%	13.9%
To a little extent	17.4%	9.4%
To no extent at all	14.0%	65.8%
I don’t know/prefer not to answer	22.8%	4.0%
How strongly do you agree or disagree with this statement? “I desire to own a property in my lifetime, but I am pessimistic about my ability to own a home because of current house price affordability.”
Strongly disagree	7.4%	12.3%
Somewhat disagree	16.4%	13.9%
Somewhat agree	44.2%	36.4%
Strongly agree	28.3%	31.4%
I don’t know/prefer not to answer	3.8%	6.0%

Methodology

The survey was completed online using Leger Marketing’s online panel, LegerWeb, between September 13th and September 21st, 2012 with a sample of 1,013 Canadians born between the years 1980 and 1994 (Generation Y) and 1,011 Canadians born between the years 1947 and 1966 (Boomers). A probability sample of the same size would yield a margin of error of ± 3.08 per cent, 19 times out of 20, for each respective sample.