James Metcalfe's real estate market update march 2012
1. MarketNews
JAMES METCALFE’S REAL ESTATE UPDATE MARCH 2012
AVERAGE PRICE ECLIPSES $500K IN FEBRUARY
With only slightly more than two months of inventory in the Total unit volume through the TorontoMLS® system in February
Toronto Real Estate Board area, competition between buyers was 7,032 - which represented a 16% increase versus February
continues to exert very strong upward pressure on the average 2011 sales of 6,058 single family homes. New listings were also
resale price. During the month of February, the average resale up over the same period, but by a lesser 11% to 12,684. It is
price eclipsed the $500,000 barrier for the first time ever, important to note that 2012 is a leap year, with one more day in
reaching $502,508. This represented a whopping 11% increase February. Over the first 28 days of February, sales and new listings
versus the February 2011 average price of $453,329. The following were up by 10% and 6% respectively. The following is a brief
is a brief breakdown of price performance by major dwelling types: breakdown of volume performance by major dwelling types:
Dwelling Average Ann’l Index Dwelling Units Ann’l % of
Type Price Growth to Avg Type Sold Growth Total
Detached $636,080 +10% 127 Detached 3,427 +24% 46.8%
Condo Apt $341,199 +3% 68 Condo Apt 1,726 +10% 24.7%
Townhouse $367,937 +10% 73 Townhouse 987 +4% 15.9%
Semi-Detached $459,464 +10% 91 Semi-Detached 757 +14% 10.8%
GTA RESALE HOME SALES (AVERAGE PRICE) - FEBRUARY GTA RESALE HOME SALES (UNITS SOLD) - FEBRUARY
2009 2009
2010 2010
2011 2011
2012 2012
$350,000 $400,000 $450,000 $500,000 4,000 5,000 6,000 7,000
James Metcalfe BROKER
416-931-4161 Royal LePage Real Estate Services Ltd.
www.OurHomeToronto.com Johnston & Daniel Division, Brokerage
Service@OurHomeToronto.com 477 Mount Pleasant Rd., Toronto, ON M4S 2L9
PAGE 1
2. Tenants in a condominium setting
Condo Corner
Condominium tenants have a legal relationship with the corporation’s declaration). The tenant argued that Section
owner of the unit – the landlord. This relationship is governed 108 of the Landlord and Tenant Act (as it then was) allowed
by the tenancy agreement and landlord and tenant law. the tenant to keep the dog. In confirming the decision of
the lower court, the Court of Appeal said:
In addition, condominium tenants have a completely separate
relationship with the condominium corporation. This “We are of the view that a declaration registered
separate relationship is governed by condominium law – under the provisions of the Condominium Act, R.S.O.
namely, the Condominium Act (Condominium Act, 1998) 1990, Chap. C.26, does not constitute “an agreement”
and the condominium corporation’s declaration, by-laws within the meaning of those words as set forth in s.
and rules (collectively: the condominium’s “governing 108 of the Landlord and Tenant Act, R.S.O. 1990, Chap.
documents”). L.7. It follows that the provisions of s. 108(1) cannot
be relied upon by the appellants (the tenants) in these
Condominium tenants must comply with the condominium’s
proceedings.
governing documents. But this raises the following question:
Can landlord and tenant law serve to reduce or modify the Other Courts have also touched on the issue. For example:
tenant’s obligations under a condominium’s governing
• In Carleton Condominium Corporation No. 350 v.
documents? The courts have said that the answer to this
Bannerman (1988) the Court ordered the removal of
question is “no”.
two cats owned by a tenant (again, based upon a “no
So, tenants of condominium units have the same pets” provision in the condominium’s declaration). The
obligations to comply with the condominium’s Court said that the tenant “could acquire no rights not
governing documents as do condominium owners available to the owners”.
– and landlord and tenant law does not affect
• In Niagara North Condominium Corporation No. 125 v.
those obligations. Condominium corporations are
Kinslow (2007) the Court ordered removal of two cats
not landlords of the units (unless of course the
owned by a tenant (again, based upon a “no pets”
condominium corporation actually owns and leases a
provision in the condominium’s declaration). The Court
unit) and landlord and tenant law does not apply to a
said “the tenancy agreement is silent as to pets and has
condominium’s governing documents.
no bearing on this application.”
As mentioned above, the courts have confirmed that
The bottom line is that no Court has ever said that a
a tenant’s obligations under condominium law are
tenant can rely upon landlord and tenant law to avoid any
entirely distinct and separate from the tenant’s rights and
requirement under a condominium’s governing documents.
responsibilities under landlord and tenant law. The leading
court decision on this issue is a decision of Ontario’s Court of
Appeal in the case of Metropolitan Toronto Condominium
Corporation No. 949 v. Irvine. In that case, the condominium
This article was contributed by James Davidson and Deborah O’Connor. James and
corporation obtained an order for removal of a tenant’s dog
Deborah practice condominium law with the law firm Nelligan O’Brien Payne. Please
(based upon a “no pets” provision in the condominium
visit them at www.nelligan.ca.
PAGE 2
3. All about smart meters
House Smart
If you think a ‘Smart Meter’ is a device that will fool your Generating electricity during these ‘on peak’ times is very
electricity provider into thinking you are using less electricity expensive, but there is no real incentive for people to cut back
than you actually are you would be wrong. However, if you on the amount of electricity they are using during these times.
think a Smart Meter is a device that will save you money on As a consequence, we increasingly face black-out or brown-
your electricity bill, you are right! out situations when the generators reach or exceed capacity.
In addition, the extra electricity generation required to meet
A regular electricity meter tracks the amount of electricity used
the peak demands is typically achieved using environmentally
over a period of time. The electricity provider charges the home
unfriendly sources such as coal generation which creates a
or business owner based on the difference in the meter readings
significant amount of greenhouse gas emissions and creates
over a one or two month period. The term ‘Smart Meter’ refers
poor air quality. The installation of Smart Meters will make
to one that is capable of recording more sophisticated data.
consumers more conscious of when and how much electricity
Smart Meters not only record the amount of electricity used
they are using and reward them by charging lower rates for the
over a period of time, they also record the time of day the
electricity if it is used during off peak times, which will in turn
electricity was used.
help with the environment.
There are two types of meters; Time-of-Use (TOU) and Interval
When a Smart Meter is installed, the home owner is billed at a
meters. TOU Meters record the total amount of electricity used
higher rate for electricity used during peak times and a lower
during the billing period, as well as the amount used during
rate for electricity used during off peak hours. With people
peak hours. Interval meters record the amount of electricity used
reducing the amount of electricity they use during peak hours
during shorter time periods (one hour intervals, for example)
(due to higher rates), the peak demand is smaller, the required
and collects more data than Time of Use meters. The data from
capacity of generators is reduced, and the risk of black-out or
interval meters is typically transmitted to the billing company
brown-outs is also reduced. Electricity generators also benefit
through transmission lines or wirelessly, while the data from
from the implementation of Smart Meters since their systems
Time of Use meters is collected monthly or bi-monthly similar to
are designed to accommodate demand during peak hours. The
regular meters. The peak hours to be recorded by TOU meters
total amount of electricity generated over the course of a day
have to be manually programmed into the meter and if those
may not be different, however the amount of electricity required
peak hours change, the meters require re-programming. The
at any one time would likely be lower thereby eliminating the
same information can be remotely changed on an interval
requirement to use environmentally unfriendly sources of
meter and there is more flexibility in the number of rates
electricity generation.
charged during a day and over the billing period.
Information that can be provided to homeowners by Smart Meters
The time of day that the electricity is used is significant because
includes the cost of the electricity per kilo Watt hour (kWh) and
the cost of electricity generation varies depending on how
the amount of electricity being used. This data can be provided via
much demand there is on the system. For example, on a hot
a website or by phone to allow the homeowner to decide when
summer afternoon when homeowners and businesses are
to wash a load of laundry or run the dishwasher, for example.
running air conditioners, the demand for electricity is high
and the electricity generating facilities must work as hard This article was contributed by Amerispec, a leading home inspection company.
as possible to produce sufficient electricity for everyone. Please visit them at www.en.amerispec.ca.
PAGE 3
