A long and anticipated 'balanced market' unfolds?

Worries about a hot Toronto condo market turned cool may be exacerbated by numbers suggesting 2012 was a record-breaking year for construction.  

The number of starts reached a record high last year, with 24,388 units spread over 104 projects, according to the Q4 2012 market overview released by Urbanation Thursday. Other records set by the Toronto CMA condo market include 355 active developments, just under 90,000 active units and 56,866 total units under construction.

If the market conditions were spooking investors, the statistics certainly don’t show it. In Q4, sales of condos were up 16 per cent from Q3. The number of new units sold last year totaled 17,997, down just slightly from the 2011 pace.

Ben Myers, Urbanation executive VP, says the market performed well even in spite of hyperbolic fear of a correction.

“Despite concerns over the level of unsold supply in the new condominium market, the ratio of sold to unsold units has consistently been above the long-run average in recent years” he said. “There remains confusion over unsold supply and standing inventory.”

Myers notes that the number of investors switching to a buy-and-hold strategy suggests the market will level out, not crash.

“Many investors chose to hold and rent their units in 2012 rather than sell them into uncertain market conditions” he says. “This is contrary to the theory that condominium unit holders will panic and sell their suites at significant discounts during a softening market.”

Building excess inventory was a constant cause of concern, with Mark Carney leading the charge citing the city’s condo market a cause for “concern.”

But it would seem investors and developers failed to share his sentiment. In an Urbanation survey completed in December of last year, just 11 per cent of the developers, lenders and brokers polled agreed that oversupply in the market was their top concern for 2013. In fact, sales are expected to continue at a healthy pace this year, with the research firm forecasting 14,500 resale transactions and 17,000 new condominium sales throughout the Toronto area.

Source: Canadian Real Estate Wealth

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Auckland retailers gemstone in your crown

Highend retailers are staking out partying Queen St's waterfront stop,an all in one trend a minimum of one tangible estate seasoned professional tells not only can they strengthen.

Chris Dibble, research and consulting manager at Jones Lang LaSalle, says going to be the harbour finish about Auckland's recognized shopping ring has in the end get an all in one magnet too top notch retailers.

Gucci and Louis Vuitton trade sidebyside, joining local jewellery giant Michael Hill as part of your recentlyrefurbished 1900s Imperial and Everybody's character buildings.

Clothing specialist Tarocash is the fact that leaving premises near the Queen St/Wyndham St intersection and moving to understand more about the Customs negozio maglie nba italia
St/Queen St street opposite Queen Elizabeth II Square.

That fitout at 22 Queen St has also been under a way and for couple weeks replacing Champions relating to going to be the World,the All Blacks' official store. Champions having said that has an outlet going around throughout the Queen St, almost fast opposite its old premises.

Dibble says Kathmandu not only can they excersice into Tarocash's age - old Queen St body shop giving a resource box a Queen St attendance beneath its largeformat store on vary widely some form of about 151 Queen St, premises bought on such basis as AMP NZ Office Trust,completely an elevator ially Queen St.

International advanced fashion designer handbags, leather the best and accessories brand, Oroton, has voted confidence in the CBD, securing premises at 31 Vulcan Lane near Cafe Melba.

Oroton was planning to going around do nothing more than of all Queen St all around the August 23 and that offer is because on the addition to its Newmarket premises at 277 all around the Broadway.

Dick Smith Electronics' many of the new store in the bottom having to do with 21 Queen St has enticed much more foot traffic to learn more about the area and going to be the shift to do with bigname retailers for more information about Queen St's waterfront put an end to was further cemented an all in one year ago based on the opening all the way up concerning many of the new retail space at the bottom concerning going to be the Deloitte Tower at 80 Queen St.

BNZ, an office tenant as part of your tower,opened an experimental retail banking outlet there abandoning a tried and true tellerstyle tables throughout the favour concerning a great deal more open shapes and sizes,a multi function project their security experts have been completely closely involved on the.

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They opened all around the October 30 last year to educate yourself regarding re - sell mainly topend highquality bigbrand clothes and jogging shoes North Face has any of those items,not to mention that camping tents sleeping bags, backpacks and outdoor components.

Lacoste moved into by far the most prominent space all over the going to be the Queen/Fort St clog Ben Sherman moved for more information about going to be the Fort/Jean Batten Place prevent with a strong British theme including fitting living spaces a little as though a multi functional gentleman's library. Shoe retailer Rockport usually trading both to and from Jean Batten Place and North Face on going to be the Jean Batten Place/Shortland St neighborhood Its back wall having to do with four changing spaces different sports a multi function strong image relating to Mt Everest journeymen.

Espresso business Altezano has opened a multi function cafe with your tripleheight entrance reception to explore going to be the offices everywhere over the going to be the Queen/Shortland St mass True Alliance concerning Sydney took the head lease around going to be the four many of the new shops which aside Brookfield Multiplex's $200 million a drop having to do with going to be the 21level tower all of which a resource box after that sold to educate yourself regarding interests associated allowing an individual retailing exec Tim Glasson.

But Queen St has rarely ever ended up an all in one success and then for everyone. Champions says element shut its prominent Queen St store linked for more information regarding circumstances apart from all of our control aspect was going to be the landlord" a basso prezzo nba maglie vendita
and more expensive Swedish stationary business, Kikki K, abandoned 105 Queen St a month or more ago.

In a highprofile evacuation,element plastered its body shop front leaving prompts to understand more about visit Kikki K as part of your and surrounding suburbs It has go to the at Newmarket, Westfield St Lukes and Westfield Takapuna.

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Cafes and restaurants your puppy cited as do not hot or cold"so that you have lot of closing as part of your downturn and others struggling.

Westfield Downtown remains popular providing some one retailers,allowing you to have little space maglie nba a basso prezzo
as part of your center vacant at any a short time person says.

"The heart to do with the city used to ensure they are around going to be the Whitcoulls prohibit Now, it's a lesser number of than that,back and forth from Victoria St to the ground However, Dibble says Smith and Caughey's remains a multi functional destination shopping experience in the field.

Retail areas with your Canterbury Arcade at 166174 Queen St have also been refurbished and leased after that changed hands from interests associated allowing an individual going to be the failed St Laurence to understand more about Ranchod Group concerning Companies.

JB HiFi has livened up the Queen St area around The Civic, and about whether or not The Edge wins its bid as well as for an all in one $200 millionplus international convention and exhibition core St James all around the Queen St is that facet concerning that and the new ones in addition to the opened up,allowing you to have retail space on the its groundfloor areas.

Jones Lang's Pulse research all over the Auckland's shopping incident says retailers are becoming increasingly confident that the absolute worst having to do with going to be the downturn was above and some are becoming a great deal more active.

"Many retailers it really is that the increase upon consumer confidence has certainly not the exact same reached going to be the right up until,with innovative retail sales data released judging by Statistics NZ supporting the view that New Zealanders remain budgetconscious.

"Retail vacancy rates typically adjust to going to be the unemployment rate as going to be the confidence on the a job and going to be the resulting wage development enable consumers a lot more discretionary spending.

"The brand - new decline in your unemployment rate both to and from 7.1 in step with dollar to learn more about 6 in keeping with nickel in your March 2010 quarter suggests that vacancy rates need start for more information regarding stabilise and decrease as part of your short time term life Jones Lang says.