Whats Taxable under the HST and What is not

Curious to know what might be a little more expensive come July 1, 2010???
Look no further. Click Here to view a list of items compiled to help Ontarians get a better handle on our new tax...

End of an Era - Old Community Centre Arena is coming down

As part of a larger vision to transform downtown Newmarket, the Community Centre (200 Doug Duncan Drive) is scheduled to undergo significant renovations, starting with the dismantling of the arena within the next few weeks. Residents and business owners will now notice perimeter fencing surrounding the arena and south parking lot as the contractors prepare for the demolition.

“The Community Centre arena has stood the test of time and has been a pillar of our recreation community since the 1920s. The dismantling of the arena is bittersweet as it represents the end of an era, but also marks the beginning of an exciting transformation for Newmarket,” say Mayor Tony Van Bynen.

The removal of the arena is an important component of the Town’s Community Urban Space Project (CUSP) that will see the creation of an 8.4 acre urban park in the heart of downtown. Touted as an all season destination, the new park will include an open-air skating facility that converts into a summer water feature, and an outdoor performance area. The park is scheduled to open by March 31, 2011.

“As we say goodbye to the old arena, we are creating a new family space in its place,” says Regional Councillor John Taylor. “We’re excited that the new urban park will further promote downtown as a centre for the community and a key destination for cultural and recreational events,” continues Taylor.

The Community Centre itself will undergo a variety of renovations, and the Town will host a public drop-in session to allow members of the community to view the interior and exterior plans for the centre (date to be determined).

Residents should be advised that traffic flow along Doug Duncan Drive may be affected as the arena is dismantled. In addition, contractors in hazardous materials suits may be observed as asbestos tile is removed from the facility, and heavy machinery will be onsite.

The Town will continue to update the media as new information is available. A photo opportunity will also be scheduled once the demolition date is determined. To learn more about the Town’s downtown initiatives, visit http://www.newmarket.ca/en/discoverdowntown.asp, or, sign up for the Town’s new electronic newsletter – the Downtown Dish – by e-mailing downtowndish@newmarket.ca for the Town’s new electronic newsletter – the Downtown Dish

Mid-April Resale Market Figures

TORONTO, April 16, 2010 – Greater Toronto REALTORS® reported 4,601 sales throughthe Multiple Listing Service® (MLS®) during the first two weeks of April.

This represented a 25 per cent increase compared to the 3,681 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 9,512.

“The fact that annual growth in new listings outstripped growth in sales suggests that the GTA existing home market is becoming better supplied,” said Toronto Real Estate Board President Tom Lebour.

"Home owners are reacting to strong sales and price growth by listing their homes in greater numbers. They are confident they will receive offers in line with their asking price."

The average price for April mid-month transactions was $430,271 – up 12 per cent compared to the average of $383,361 recorded during the first 14 days of April 2009.

"The average annual rate of price increase has declined and we are shortly going to see a return to sustainable single-digit rates of growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"As home buyers experience more choice in the marketplace, there will be less upward pressure on the average selling price in the GTA.”

VIVA/NEXT Rapidways

For those curius to know what the Viva Rapidway is scheduled to look like, have a look at this video that viva has posted on youtube. The first 40 seconds are basically what Main/Davis is expected to look like, while other Transit oreinted projects follow.


*PLEASE KEEP IN MIND THIS VIDEO IS A DEMONSTRATION OF WHAT THE DEVELOPMENT MIGHT LOOK LIKE. Main/Davis is not likely going to see major development like the one proposed in the video for many many years to come.


The goal is to build transit systems and roadways that will accomodate for vertical development and the concentration of population growth in designated Growth Centres. This is all based on the The Ontario Places to Grow Act which is intended manage growth and development in a way that supports economic prosperity, protects the environment and helps communities achieve a high quality of life across the province.
Newmarket is a targeted area in the Act and has been given a Provincial Growth mandate to acheive a population of 98,000 by 2026, a goal I think will be achieved well before that date.

For More Info on Viva , click Here
For more on The Place to Grow act the the communities affected, click here

As this graph shows, March was the best month for sales volume in 4 years.

The supply levels are significantly higher now than in the spring, which is causing the market to balance out a bit more than we witnessed in the winter months. If supply outweighs demand, prices drop.

The sales-listings ratio is actually down from february, which isn't that uncommon, but a big contrast to what happened the same time last year.

Becuase of the large unbalance of demand outweighing demand over the winter months, average prices skyrocketed over those of the past 4 years.

YOu can see the large disparity of available homes for sale over the course of 2009 from the above graph which I believe helped fuel the demand as the signs of economic recovery appeared.