Randy Miller

Broker Of Record

Urban Avenue Realty Ltd., Brokerage

Whitby & Brooklin Real Estate

Office 905-430-1800

Direct 905-430-9444

Email: randy@randymiller.ca


Royal Heritage Realty

On Friday, I left Re/Max. I have been in the Re/Max organization for 20 years, awarded the Lifetime Achievement Award many years ago and the Chairman’s Club last year. I work with many great people here in Durham Region and I look forward to many more good years at my new brokerage, Royal Heritage Realty Ltd. Along with my partners Paul Etherington, Michelle Makos and Joe Pitino, we will build a strong residential and commercial presence. We will be announcing our first location soon, more details will follow. We will build amazing brokerage because we know our customers. Joe and Michelle came up with a great slogan; Realtors working with Realtors. We envision a company with great agents, our office will be positive and progressive, come and join us!



Randy Miller 
Broker of Record
Royal Heritage Realty Ltd., Brokerage  

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When: Saturday, 18 October 2014

Time: 9:00 AM - 5:00 PM

Where: Downtown Bowmanville, 98 King Street West, Clarington


Apple Fest Bowmanville




Applefest street festival celebrates all things apple. Four blocks will be closed to showcase local apple growers offering a wide variety of apples, cider, homemade apple pies and crisps, candy and caramel apples, cider donuts, and more. Live entertainment as well as jumping castles, pony and carnival rides will also be offered.

Unique handmade, high quality crafts and food products can be found in several large marquee tents and booths lining the street. 

FREE admission and FREE parking.

For more information visit http://bowmanville.com/events/applefest


Randy Miller 


Re/Max Rouge River Realty Ltd., Brokerage  

905-668-1800 or 905-427-1400



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On October 5th, 127,000 Canadians from coast to coast joined together to honour, celebrate and remember those affected by breast cancer in the 23rd annual Canadian Breast Cancer Foundation CIBC Run for the Cure. The CIBC Run for the Cure raised $25 million across Canada and $10.7 million in Ontario alone! This tremendous achievement allows to continue to fund the most promising breast cancer research that is changing the landscape of what is known about how to prevent, detect, diagnose and treat breast cancer. For more information visit Canadian Breast Cancer Foundation!


I donate with every real estate sale


As a real estate agent with every sale of a house I support Sold on a Cure, an exclusive charitable fundraising partnership between the Canadian Breast Cancer Foundation and RE/MAX real estate agents and offices. Every Sold on a Cure real estate sale helps families living with breast cancer.

Together we are making a difference!


Randy Miller 


Re/Max Rouge River Realty Ltd., Brokerage  

905-668-1800 or 905-427-1400


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Canadian Real Estate Market stays hot

There are early indications that September appears to have been another strong month for Canadian home sales.

That is based on data that some local real estate boards have released in recent days about how their housing markets fared last month. The number of existing homes that changed hands in Toronto was up 10.9 per cent from a year earlier, in Calgary it was up almost 12 per cent, and in Vancouver 17.7 per cent. And that’s in comparison to a reasonably strong month: sales in September, 2013, were slightly above the 10-year average for that month.

A comprehensive picture won’t be available until the Canadian Real Estate Board, which represents realtors, compiles all of the local statistics and releases national September data on Oct. 15. Many cities have not released their numbers publicly yet, and the ones that have tend to be in some of the country’s stronger housing markets. Quebec and the Atlantic region, where more markets are struggling, are not represented below.

But the strength of Calgary, Toronto and Vancouver’s housing markets tends to pull up the national averages, and so the numbers here suggest that the national figures will point to a market that still has momentum.


-Sales were up almost 12 per cent in September from a year ago. The local real estate board says the unexpected strength came from a surge in condo and townhouse sales.

-Condo sales so far this year are 21 per cent higher than during the same period last year, while the number of sales of detached homes has risen by just 7 per cent. Affordability is driving the shift. Two years ago, 44 per cent of the detached houses that sold from January through to the end of September went for less than $400,000, according to the real estate board. So far this year only one quarter of the houses have sold for less than that.

-The average price of a detached house in the city was $567,653 in September, up 10.81 per cent from a year earlier. The average price of a condo was $326,264, up 9.21 per cent. For townhouses it was $352,813, up 4.21 per cent.

-The average length of time it takes to sell a home continues to tick downwards. Year-to-date the average number of days a home is on the market before it sells (for all types of homes) is 34, down from 42 in the same period last year.


-Sales were up 10.9 per cent from a year earlier. So far this year sales in the city are 6.9 per cent higher than during the same period last year.

-The average selling price was $573,676, up 7.7 per cent from a year earlier. The average selling price year-to-date is $563,813, up 8.5 per cent from last year.

-“If the current pace of sales growth remains in place, we could be flirting with a new record for residential sales reported by (Toronto Real Estate Board) members this year,” TREB’s director of market analysis, Jason Mercer, stated in a press release.

-The average selling price of detached homes in the downtown area covered by the 416 area code was $951,792, up 11.5 per cent from a year earlier. For condos in the same area it was $395,505, up 9.2 per cent.


No Fall for Durham Housing Market

Durham Region Association of REALTORS® (DRAR) reported 970 sales in September 2014, which represents a 14.8 per cent increase compared to 845 sales in September 2013. On a year-to-date basis, sales were up 5 per cent annually through the first three quarters of the year.

President Jane Hurst states that the increase in sales activity stems from increasing buyer interest. "We also saw a 21.7 per cent increase in the number of resale homes entering the market since last month". The number of new listings that entered the market in September 2014 was 1,471 compared to 1,209 in August 2014.

There was also a large increase in the average selling price in Durham. The average price of resale homes in Durham Region in the month of September reached was $401,713. This represents a 13.6 per cent increase over the same period last year.

Avg. Selling Price Durham Region

Property values continue to rise, people are still willing to buy and borrowing rates are low which keeps home ownership affordable.  Everything combined makes Durham Region a great place to work and live.

(Source: The Globe and Mail, Tara Perkins)

If you are looking for a house in Durham Region or are already a homeowner and wish to move to a new house in Pickering, Ajax, Whitby, Brooklin, Oshawa, Courtice or Bowmanville, please contact me for more information.


I can answer all of your questions, help you find the right neighbourhood and the perfect house at a great price. Having sold real estate full time in Whitby and the surrounding areas for over 20 years, you can assured of exceptional local market knowledge and  skilled representation. Nothing beats experience.


Randy Miller 


Re/Max Rouge River Realty Ltd., Brokerage 

905-668-1800 or 905-427-1400

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Run for the Cure

Canadian Breast Cancer Foundation CIBC - Run for the Cure in Durham Region, ON



Start Date: Sunday, 05 October 2014
End Date: Sunday, 05 October 2014
Time: 8:00 AM - 11:00 AM
Location: Lakeview Park, Simcoe Street South and Lakeview Park Drive, Oshawa ON, L1H 8S7


Each year, tens of thousands of Canadians participate in the Canadian Breast Cancer Foundation CIBC Run for the Cure and help to raise funds for important breast cancer research, education, and advocacy initiatives.



Registration: 8:00am

Opening Ceremonies: 9:00am

Warm Up: 9:50am

5km Start: 10:00am

1km Start: 10:00am

Awards & Closing Ceremonies: 11:15am

For more information, visit www.runforthecure.com


Randy Miller 


Re/Max Rouge River Realty Ltd., Brokerage 

905-668-1800 or 905-427-1400



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Comedian Gerry Dee "The Real mr. d" 2014 Comedy Tour

When: Friday, October 3, 2014 7:30 pm & 10:00 pm

Where: Regent Theatre Oshawa, ON


Gerry Dee is a stand-up comedian and the star and creator of CBC's hit sitcom Mr. D, and author of ‘Teaching: It's Harder Than It Looks’. He is a former Canadian Comedy Award winner for Best Comic in Canada and was on NBC's Last Comic Standing. He also performed at the world famous Montreal Just for Laughs International Comedy Festival.

Watch Gerry Dee perform Live "The Real mr.d" 2014 Comedy Tour" where he will touch upon marriage, fatherhood and his years as a teacher. 

Age Recommendation: 14 years and older

For Tickets, visit Gerry Dee's Website or the Regent Theatre Website.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400




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The Town of Whitby and the Region of Durham are co-hosting a Household Hazardous Waste (HHW) and Electronic Waste (E-Waste) Drop-off event. 

When: Saturday October 4, 2014, from 8:00 a.m. to noon.

Where: The Town of Whitby's Operations Centre, 333 McKinney Drive



Examples of acceptable electronics (e-waste) include, but are not limited to, the following materials:

  • Cellular phones
  • PDAs & pagers
  • Audio & video players
  • Cameras & radios
  • VCRs/DVD players
  • Telephones
  • Stereos & receivers
  • Desktop computers
  • Computer peripherals
  • Monitors
  • Printing devices
  • Camcorders
  • Televisions
  • Portable computers

Click here for more information: E-Waste


Household Hazardous Waste

Residential products currently being accepted include, but are not limited to:

  • Aerosol Containers regardless of product content
  • Antifreeze and its related container
  • Batteries - single-use and rechargeable
  • Compact Fluorescent Lights (CFL)
  • Fertilizers and their containers
  • Fire Extinguishers
  • Flammable material such as camping fuel, kerosene, gasoline, cigarette lighters, driveway sealer, etc.
  • Fluorescent light bulbs and tubes 
  • Mercury switches
  • Oil Containers of 30 litres or less for a wide range of oil products
  • Oil Filters and air filters for items such as household furnace fuel filter, storage tank diesel fuel filters, transmission or internal combustion engines, etc.
  • Paints, Coatings, Paint Thinners, Varnish, Stains, Shellac etc.
  • Fungicides, Herbicides, Insecticides and their containers
  • Pharmaceuticals prescription and non-prescription
  • Photography Chemicals
  • Pool and Spa Chemicals
  • Propane Tanks and other Pressurized Containers
  • Reactive material such as metal powders that may explode with contact to air and or water
  • Solvents (such as paint thinner, turpentine, paint stripper or nail polish remover)
  • Syringes and needles used in the administration of health care (human and veterinary)
  • Thermostats or any switches containing mercury
  • Used Oil Filters

Click here for more information: HHW (Household Hazardous Waste)

Pick up a FREE gallon of recycled paint when you drop off HHW. One per vehicle. Limited quantity of 200 available. Bring a non-perishable food item to support the local food banks.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400


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The sizzling summer real estate market appears set to remain hot right through the fall.


John Andrew, a professor at Queen’s University, is watching with interest for the August numbers that the Canadian Real Estate Association will report in the coming days.


Low mortgage rates fuelled property sales in cities across Canada, with Toronto, Vancouver and Calgary seeing the most action, he says.


Prof. Andrew, who is the director of the executive seminars on corporate and investment real estate at Queen’s, predicts September and October will bring more of the same.


“I don’t think we’re going to see a significant downturn in sales until we see an uptick in mortgage rates.”

And when he says an uptick, he’s not referring to a month or two of gently rising rates – he’s talking about a sustained upward trend.


The Toronto Real Estate Board reported that sales rose 2.8 per cent in the Greater Toronto Area in August from a year earlier, while the average selling price rose 8.9 per cent. Prof. Andrew says the increase in sales in August came on a drop in listings. Sales in Durham Region, including Whitby and Brooklin have produced similar rising sales figures.


The market is still fairly balanced, he says, but it could tip over to a sellers’ market. He wonders if that, in turn, will encourage more homeowners to list their properties for sale. “As soon as people realize it’s a sellers’ market, they say ‘maybe it’s a good time to sell our house.”


Prof. Andrew notes the contrast between this year and last, when a sudden shift in the market came right after Labour Day. Last summer, mortgage rates edged up between June and September. Many people hadn’t been paying attention and that led to a sudden burst of buying in September when people were spurred on by the fear that rates would climb even higher.


Fluctuating bond yields have brought about the movement in mortgage rates over the past year.


The professor also points out that he used to make a note in his calendar of the days when the Bank of Canada’s interest rate committee was set to meet. He could expect a lot of calls from media on those days. More recently, those meetings have become a non-event, he says, because no one expects the central bank to make a change.

The low mortgage rates expected for the remainder of 2014 create an opportunity for all participants including first time buyers, move up buyers, investors, or by simply allowing people with existing mortgages to pay them off sooner.


For opportunities in Whitby and Brooklin and throughout Durham Region, contact me.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400


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An article in thestar.com says that Canadians were carrying more debt in the second quarter of 2014 than a year earlier but they’re also doing a better job of paying it off on time. This shows a report from credit scoring agency Equifax.

The national debt load rose to $1,447.5 billion in the three months ended June 30, up 7.2 per cent from a year earlier, the agency said in its quarterly National Consumer Credit Trends.

Excluding mortgages, the average Canadian consumer’s debt load was $20,759, the agency also said in a report to be released Thursday.

“Credit card balances of new cardholders continue to increase, while credit limits and new card issuance have slowed. This may be an indication that promotional activity of credit card issuers is slowing down,” Malina explained.

At the same time, Canadians are doing a better job of carrying their debt load, the agency found.

Canadian households’ debt loads have been rising since 2008, fuelled in part by record low interest rates aimed at kick-starting a struggling economy.

Equifax uses data from 25 million files on consumer credit history, including national credit cards, loans and mortgages, in compiling the report.

To read  the full report click here >>> thestar.com, Canadians carrying more debt, report finds by Dana Flavelle Economy, Business Reporter

This article might interest you too:




Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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Reuse Day Donation

Do you have items such as clothing, books, sinks, toys, windows or tools you don't need or use anymore? No problem. There are many ways to get rid of your unwanted stuff.


  • Donate: There are lots of organizations throughout Durham Region (Goodwill, Salvation Army, Canadian Diabetes Association, Habitat for Humanity) that will accept previously used items such as clothing, housewares or sporting goods and sell them to support their programs and charitable work. If renovations are in your future, Habitat for Humanity Restores accept items from renovations such as windows, doors, paint, hardware, lumber, tools, lighting fixtures and even the kitchen sink.


  • Garage sale: You can get rid of large quantities of reusable items by holding a garage sale.  Do it by yourself or organize a garage sale with the whole street or neighbourhood.


  • Place classified ads or look at online forums: Place an ad in a local newspaper or magazine. They are reasonably priced and widely read. There are also many opportunities to buy and sell items on the internet.  There are online organizations such as Freecycle or Craigslist that bring people together in your community who have items to give away.


  • 'Reuse Day': Each month Durham Region will host a Reuse Day. Durham Region residents are encouraged to take advantage of Reuse Days, where you can drop off reusable items, free of charge, to the Works Department’s Waste Management Centre. The items will be donated to Habitat for Humanity ReStores (Ajax, Oshawa and Uxbridge locations), and one of the following organizations: Canadian Diabetes Association, Goodwill or the Salvation Army. Only good-quality items, deemed to be suitable for reuse by charities, will be accepted. Garbage, household hazardous waste and unwanted electronics will not be accepted. Materials refused by charities must be removed by residents or disposed of at one of the Region’s waste management facilities (fees will apply).


The following materials are acceptable donations for 'Reuse Days':


  • Lumber (clean, no nails and over 4ft. lengths)
  • Roofing material (new only)
  • Windows and doors (no slab hollow core doors)
  • Tools and hardware
  • Lighting fixtures
  • Metal or wooden furniture (no fabric chesterfields unless new)
  • Carpets (area rugs in like-new condition; no carpet remnants)
  • Counters and sinks
  • Plumbing supplies
  • Clothing and textiles
  • Books and magazines
  • CDs, DVDs, video games, records
  • Toys and games
  • Sporting equipment
  • Window coverings (no used vertical or horizontal blinds)
  • Housewares and accessories
  • Gardening equipment
  • Working appliances
  • Footwear and jackets

Upcoming 'Reuse Days' dates:


Saturday, September 13

9 a.m. until 1 p.m.

Waste Management Centre

4600 Garrard Road, Whitby


Saturday, October 25

9 a.m. until 1 p.m.

Waste Management Centre

4600 Garrard Road, Whitby


For Electronic Waste (e-waste) Collection Events and Household Hazardous Waste (HHW) Collection Events visit the Website of Durham Region.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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Terry Fox Run Durham Region


On September 14th all residents of Durham Region are invited to participate in this fundraising event. Run, ride or roll and raise money for the Terry Fox Foundation!

Terry Fox embarked on his Marathon of Hope in 1980, a cross-country trek to raise money for cancer research. His journey ended when his cancer reappeared and claimed his life but since then, hundreds of millions of dollars have been raised for the cause in his name.


Whitby Terry Fox Run

Sunday, 14 September 2014

Time: 8:00 AM - 1:00 PM

Where: Heydenshore Park, 589 Water St, Whitby, ON

Residents are invited to participate in a one-, two-, five- or 10-kilometre walk or run. Bicycle, inline skate and wheelchair accessible. Event also includes silent auction, barbecue and children's activities. Official ceremonies at 10 a.m.

For more information visit this Facebook page.


Oshawa Terry Fox Run

Sunday, 14 September 2014

Time: 8:00 AM - 1:00 PM

Where: Storie Park, 101 Mill Street, Oshawa, ON

Raise funds to fight cancer in this annual event which includes a 2k, 5k and 10 run, ride, roll. Wheelchair accessible. Music, barbecue, silent auction. Registration is at 8 a.m., opening ceremony at 9 a.m.

For more information visit this Facebook page.


Ajax Terry Fox Fun

Sunday, 14 September  2014

Time: 9:30 AM - 12:00 PM

Where: Ajax Rotary Park at the Pavillion on Lake Driveway

Registration starts at 8:30 am. Bicycle, Rollerblade, and Wheelchair accessible. Route Lengths: 5KM, 10KM


Pickering Terry Fox Run

Sunday, 14 September 2014

Time: 8:00 AM - 12:30 PM

Where: Pickering Recreation Complex, 1867 Valley Farm Rd. S., Pickering, ON

The annual Terry Fox Run is a non-competitive, 1-10 kilometre event. Participants can walk, jog, wheel or bike to raise money for the Terry Fox Foundation. No pre-registration is required.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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When: Saturday, September 13, 2014 10:00 AM - 4:00 PM

Where: 41 Baldwin Street, Grass Park, Whitby


Enjoy the rich autumn colours and bountiful fall produce at Brooklin's Annual Harvest Festival. For over a decade, Grass Park, in Downtown Brooklin, has been the home of Group 74's Annual Harvest Festival, jointly coordinated with the Town of Whitby. This free event brings together community groups, businesses and residents, to showcase what Brooklin's community has to offer.


Browse the Harvest Marketplace overflowing with fruits, vegetables, flowers and plants. Children can participate in crafts, games, and interactive activities. Step back in time and enjoy a horse and wagon ride and entertainment throughout the day. Stroll through the Downtown shops for unique gifts and sidewalk sales.

Kids zone activities...

  • 1st annual Teddy Bear Picnic
  • Face painting
  • Bean Bag Games sponsored by Ashley Stevens
  • Kids Rocks & Rings Curling sponsored by Whitby Curling Club
  • Heartland Equestrian invites you to pin the tail on Munchkin
  • Station Gallery Kids Art Area
  • Interactive craft areas
  • Plant a sunflower with Peak Health & Nutrition
  • Whitby Ringette Hockey interactive area
  • Duck Pond Game & Candy floss


Visit Group 74's Harvest Festival page for detailed information.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400




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Sale sign Remax

RBC economist forecasts house prices to decline as interest rates will inevitably increase.  These forecasts are for 2015/2016 and are also nationwide.


An economist at Canada’s biggest bank says home prices could start falling in 2016 if interest rates return to more normal levels. And he warned that, in the meantime, what goes up will likely come down if salaries and incomes don’t keep pace.


(Source: The Globe and Mail, RBC economist predicts home price declines in 2016 as rates rise by Tara Perkins)


For local market insights don't hesitate to contact me

Randy Miller
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400 


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The vast majority of Canadian renters under the age of 50 would like to own a home, a new survey has found.

Only about 20 per cent of those surveyed by real estate firm Altus Group Canada said they actually chose renting for the lifestyle or because they didn’t want the responsibility of owning a home. Two per cent said they didn’t think buying a home was a good investment.

Nearly 80 per cent said there's a variety of reasons why they chose renting over homeownership: saving for a down payment, fears over qualifying for a mortgage or the belief that now is not the right time to buy.

There are roughly 2.4 million people under the age of 50 renting in Canada right now, according to Altus.

The number of those who could afford to buy a home obviously depends on a variety of factors including where they want to live and what their income is. But Altus crunched some numbers, using data from Statistics Canada, to get a sense of the bigger picture.

The firm figured that, based on certain assumptions, about 650,000 current renters under 50 years old could afford to carry a $350,000 mortgage (which is about 10 per cent less than the average resale price in the country), assuming that they put 20 per cent down on an uninsured 30-year mortgage with a 3.75-per-cent mortgage rate.

But, if renters can only make a 5-per-cent down payment (and therefore require mortgage insurance, which also means they’re only eligible for a 25-year amortization) and they get a mortgage rate of 4.79 per cent, then only about 250,000 current renters could afford to carry a $350,000 home.

Altus estimated that there were roughly 300,000 first-time buyers a year on average from 2009 to 2013, and about half of them were 25 to 34 years old. About one in five households buying their first home consisted of one individual.

The average price of a first home in Canada from 2009 to 2013 was about $268,000, Altus said, compared to an average of about $303,000 for all buyers. There’s more of a discrepancy between the average price of a first home and all homes in Vancouver, where average first home prices are about 20 per cent below the average for the overall market.

Larger down payments are key to being able to qualify for and carry mortgages on more expensive homes. About half of first-time buyers who bought a home under $200,000 put down only 5 per cent, according to Altus. But among those purchasing homes of $350,000 or more, about half put down at least 20 per cent (not only reducing their relative mortgage size, but also avoiding mortgage insurance premiums).

Source: The Globe and Mail, Survey show 80% of renters under 50 desire home ownership by Tara Perkins



There are lots of options available to get people into homeownership, and it's a lot easier than you may think. Consult an independent mortgage agent or contact me, I can refer you to a mortgage specialist that can explain the products and help you choose the right mortgage product.

If you have any other questions about moving from renting into homeownership, feel free to contact me anytime. Let me be your personal guide on your journey to home ownership!

Whitby and Brooklin Homes for Sale


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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P A R K I N S O N   S U P E R W A L K

When:                  Sunday, September 07, 2014 12:00 PM - 3:00 PM

Where:                 Rotary Park, 177 Lake Driveway, Ajax                   


Join the annual SuperWalk fundraiser in Durham Region! It is a major event that helped to raise approximately $2.76 million last year for Parkinson Society Canada to provide education, support, and advocacy for the 100,000 Canadians who live with Parkinson’s disease. Parkinson SuperWalk is the largest national fundraising event for Parkinson Society Canada (PSC) and its regional partners. Approximately 14,000 participants from coast-to-coast organize and take part in Parkinson SuperWalk.

This year's theme for the SuperWalk is "Everyday Heroes, Extraordinary Hope." Please visit http://parkinsonsuperwalk.ca for more information.


Randy Miller


Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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According to a CBC report the average price of a Canadian home was $401,585 in July, a five per cent rise compared to last year.

The Canadian Real Estate Association repeated its claim that booming sales in the large, pricey markets of Vancouver and Toronto are skewing the national average higher.

If those two cities are stripped out of the equation, the average Canadian home is worth $327,988 and the year-over-year increase shrinks to four per cent.

Sales hit a high

The real estate market is going strong, based on the number of houses being sold.

Sales have been climbing steadily — rising slightly for the sixth consecutive month.

July marks the highest level of home sales since March 2010, the agency said. Sales activity was 7.2 per cent higher than the same month a year ago.

Increases in sales activity for July also grew in markets such as Victoria and Winnipeg, and the Ontario markets of Ottawa, London and St. Thomas.

“On the surface, national sales activity in July was similar to what we saw in May and June,” said CREA president Beth Crosbie. “That said, July sales picked up in markets that struggled to gain traction in the spring, while activity eased slightly in some of Canada’s largest urban markets."

This growth shift from Calgary, Toronto and Vancouver to other regions of Canada could indicate a future trend.

"This could mark the start of less regional diversity in housing markets, which saw strength generally in the Western provinces and weakness in Central and Atlantic Canada (except Toronto),​" Sal Guatieri, senior economist​ at BMO Capital Markets.

"The renewed momentum in Canada's housing market in recent months represents both a bounce back from weather-related weakness over the winter months and a response to lower mortgage rates," said Leslie Preston of TD Economics.

"Potential buyers who may have sat on the sidelines last year as interest rates rose, are being enticed back to the market by lower interest rates. Meanwhile, a strengthening in economic growth continues to support the fundamental demand in the housing market."

Market may cool off

This growth spurt may not last much longer.

TD Economics believes that the Canadian housing market will cool later this year and into the next.


Preston says existing home prices "…are on track to outstrip income growth for a second straight year in 2014, which adds to concerns about an already-overpriced market."

She adds that a likely increase in interest rates and the added supply of new homes currently under construction are expected to weigh on prices as well.

Until this happens however, Guatieri remains concerned with THE upward climb of prices in Calgary, Toronto and Vancouver.

"While there will always be condos to satisfy the demand for reasonably affordable housing in these cities, the widening gap in prices versus detached homes means that a lot of young, growing families will be forced to live the condo lifestyle for much longer than they intend."





CREA Statistics Highlights:

  • National home sales rose 0.8% from June to July.
  • Actual (not seasonally adjusted) activity was 7.2% higher than July 2013 levels.
  • The number of newly listed homes edged up 0.4% from June to July.
  • The Canadian housing market remains in balanced territory.
  • The MLS® Home Price Index (HPI) rose 5.3% year-over-year in July.
  • The national average sale price rose 5.0% on a year-over-year basis in July. 



For more insight into the housing market of Whitby, Brooklin and other areas of Durham region, please contact me today.

Randy Miller 
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400

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Housing Market Canada

According to a CBC report the average housing price numbers are somewhat skewed by the hot markets in Vancouver and Toronto.


While the headlines from the Canadian Real Estate Association may highlight the nearly seven per cent spike in the average price of a house over the past year, analysts say the real story is that for most of the country, the housing boom appears to be over.


"It’s not a disaster by any means, but we’re very much back to a normal or a soft market in a lot of parts of Canada," said housing analyst Ben Rabidoux, president of North Cove Advisors.


According to CREA, the average price of a Canadian home sold in June was $413,215, up 6.9 per cent from June of last year.


But that data is somewhat skewed by hot housing markets in cities like Vancouver and Toronto, where the average price of resale homes came in at $800,362 and $555,430 respectively. CREA noted that if those two cities are stripped out of the picture, the average Canadian house is worth a "more modest" $336,164 and the annual increase shrinks to 5.2 per cent.


"Across the country you can find a few major markets that are very, very strong but you can find most of the communities are not very strong at all right now," said housing economist Will Dunning. "In a lot of those areas, the numbers are even weaker than one might hope for. The economy is slowing down in a lot of places and the housing market is part of that slowdown."


"The strength is in Vancouver, Calgary, Hamilton and Toronto and you don’t see as exciting a story almost everywhere else in Canada."


While the Canada-wide number is very strong, it hides very sharp regional differences, Rabidoux said.


For instance, in Hamilton, the average price of a home lists around $400,000; in Calgary around $460,000. But Regina home prices average just $300,000, in Halifax, they average $275,000 and in Quebec City, just $268,000. And in those regions, prices have either cooled or dropped altogether.


“Outside of a few major metros, the boom is over," he said. "In fact, we’re seeing now a number of markets that are seeing weakness that we haven’t seen in 20 years. And that’s very much being hidden by this incredible strength in Toronto and Vancouver."


"So it’s very much a story right now about the haves and the have-nots and that’s sort of hidden in the [CREA] headline," Rabidoux said.


"You've got this very severe imbalance between supply and demand. And you have the exact opposite dynamic in Vancouver, Calgary and Toronto where you’ve got not a lot of supply and a lot of demand," Rabidoux said. "We really haven't seen a national market like this where we have such sharp regional differences."


Read the full article > HERE!

Source: CBC News Posted: Jul 16, 2014

For more insight into the housing market within Durham Region, the Whitby real estate market, or the Brooklin real estate market, contact me. If you are an existing homeowner and are thinking about a, move, I can tell you what your house or condo is worth in today’s marketplace.

Randy Miller

Sales Representative

Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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High household debt levels in Canada are "potentially a real problem," the country's financial sector watchdog is warning.

"Household indebtedness relative to income is likely to remain near record levels," and households have less ability to absorb a major shock than they did a decade ago, Mark Zelmer, deputy superintendent at the Office of the Superintendent of Financial Institutions, said in a speech Thursday.


Banks and mortgage lenders need to be careful because the houses that they are counting on as collateral might not keep their value if the economy were to take a serious turn for the worse, he added. "Whether you believe or not that housing prices are too high, you do not hear many observers arguing they are low," he said.


His cautionary note comes at a time when the top officials in Ottawa are sending out fewer alarm bells about the risks posed by the housing market and overextended consumers.


"The news in the speech was not what was said, but who said it," said Benjamin Tal, an economist at Canadian Imperial Bank of Commerce. "What was unusual was the fact that it came from OSFI. This message was basically almost cut and paste from speeches by [former finance minister] Jim Flaherty or [former Bank of Canada governor] Mark Carney. OSFI is taking the role of being the one to warn people."


Verbal warnings about the dangers of excessive mortgages and other debts were one of the key tools that Mr. Flaherty and Mr. Carney used in an attempt to head off a crisis. They repeatedly told Canadians to get their debt levels in check, spoke about their concerns relating to the housing market, and noted that low interest rates would not last forever.


The new Finance Minister and central bank Governor have struck a different tone. Earlier this week, Finance Minister Joe Oliver reiterated his belief that there is no housing bubble in Canada, and he has said that he thinks the market is on track for a so-called soft landing and suggested he does not intend to intervene in the market.


Bank of Canada Governor Stephen Poloz told a Senate committee at the end of April that, while the housing sector could pose a serious risk if the economy deteriorates, he is expecting the household debt-to-income ratio to stabilize and he too has said that he foresees a soft landing in the housing market. Mr. Poloz also said that, anecdotally, there appeared to be an increased awareness among Canadians of the risks.


"Consumers are showing responsibility; for example, home buyers who opt to buy less house than they qualify for so they don't find themselves overextended if interest rates rise."


Mr. Oliver said that he was keeping a close eye on the market after banks cut mortgage rates, and the Bank of Canada has continued to highlight worrisome areas such as Toronto's condo market in its publications. But direct warnings to consumers have subsided.


Mr. Zelmer, in his speech, is resurrecting the more cautionary tone of years past. While the rate of growth in household credit has slowed to about 4 per cent per year, income growth is likely to remain moderate in the coming years, he said.


Finn Poschmann, vice-president of research at the C.D. Howe Institute, which hosted Mr. Zelmer's speech, said he welcomed the message. Mortgage delinquencies are extremely low, average credit scores of mortgage borrowers are very high, and housing prices seem to have stopped their relentless rocket upward, he said.


"There are all sorts of nice calm and positive things about the market and how it's functioning," Mr. Poschmann added. "And Mr. Zelmer's comments seemed to say, 'Beware of complacency on these fronts when you're a lender or an insurer.'


"And I think that is an entirely appropriate message, that while there are no symptoms at all of crisis, when everybody is really, really happy, that's when it gets a little bit dangerous and it's something to watch out for."


by Tara Perkins, The Globe and Mail, June 27, 2014.


For more insight into the housing market within Durham Region, the Whitby real estate market, or the Brooklin real estate market, contact me. If you are an existing homeowner and are thinking about a, move, I can tell you what your house or condo is worth in today’s marketplace.

Randy Miller

Sales Representative

Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

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Check out this year's Whitby Ribfest from July 11 to 13.

Whitby Ribfest

Fun, Food and Entertainment..right here in Whitby! Ribs and more, carnival and more, shopping and more, live music and more.....



July 11th – 13th, 2014

Friday 12pm to 11pm
Saturday 11am to 11pm
Sunday 11am to 8pm



Whitby Victoria Fields are directly south of Iroquois Park Sports Complex. South of Victoria Street between Gordon St and Watson Street.



Ribfest Whitby


There will be nine award-winning ribbers, food vendors, marketplace vendors, live entertainment and a midway. There's also a rib eating contest, so prepare to have fun and get messy.


For more information visit www.whitbyribfest.com or visit their facebook page



Randy Miller

Sales Representative

Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

Post CommentComments: 0Read Full Story

Rising home prices

A report in this weeks The Globe and Mail says that Bank of Nova Scotia economist Derek Holt thinks it’s too soon to relax about the Canadian housing market.


 “I remain of the conviction that one doesn’t drop one’s guard on housing risks as we push toward higher and higher peaks,” he writes in a research note. “Indeed, one’s guard should be raised…”


Years after warnings about a potential housing market crash surfaced, national home prices are still hitting new records. The sky has not fallen. Canadians are sick of hearing about impending doom, and housing market bears who continue to raise fears are brushed off much like the boy who cried wolf.


Even Toronto’s condo market, one of the most worrisome segments of the broader market, continues to defy negative expectations. Sales of new condos last month were 22 per cent higher than a year earlier. Prices, which many economists predicted would drop, ticked up 1 per cent, to a benchmark of $437,773, according to RealNet Canada Inc. So far this year more than 8,305 new condos have sold in the Toronto area. That’s 33 per cent higher than last year, and 15 per cent above the 10-year average.


Toronto-Dominion Bank economists predicted in March that Toronto area condo prices would fall on average by about 4 per cent this year and a further 4 per cent next year as a glut of new condos weighed on the market. Three months on, it’s hard to say.


“Condo sales are performing better than expected,” says Canadian Imperial Bank of Commerce economist Benjamin Tal. “As long as we have such momentum, economics 101 suggests that we will not see a drop in prices in the near term.”


Mr. Tal warns that the real test of the market will come when interest rates rise. But is anyone listening to warnings any more?


While pockets of the country have sluggish markets, predictions of a crash are now generally being shrugged off as Chicken Little Syndrome amid a stronger-than-expected picture at the national level.


Economist David Madani and the team at Capital Economics started calling for a significant price correction back in early 2011.


“House prices have been growing rapidly for nearly a decade now, and it has reached the point where housing is so overvalued relative to incomes that a downward correction seems unavoidable,” they wrote in a research note at that time. “We fear that house prices could fall by as much as 25 per cent over the next three years.”


Three years on, Mr. Madani stands by his call. In fact, it remains unchanged.


“I believe it’s a bubble,” he says. “You’ll never get the timing right, but that’s sort of the nature of a bubble. Bubbles contain an element of surprise.”


“The problems are still evident,” he adds. “You’ve got severe overvaluation, overbuilding, and a sharp run-up in household financial leverage.”


He says that other countries, including the United States, were in denial about their own housing bubbles before they reached a tipping point. And he says that Canada’s housing market is now the subject of more concern outside of the country’s borders than in it, pointing to warnings from groups such as the International Monetary Fund and the Organization for Economic Co-operation and Development.


The Bank of Canada said in its Financial System Review this month that a sharp correction in house prices is the top risk to the Canadian financial system.


“In view of the expected strengthening of the global and Canadian economies, the probability of this risk materializing is low,” the Bank said. The Bank and most economists are now of the view that the most likely scenario will be a so-called “soft landing” in which prices peter out without a crash. Indeed, the Bank noted that the pace of national home price growth has moderated. But it also said that “if such a risk were to materialize, the impact could be severe.”


And the Bank once again highlighted Toronto’s condo market as a source of concern, warning that “a correction in this important market could spill over into other parts of the housing market through various channels, including buyers’ price expectations.”


To learn more about local market conditions, or insight into prices for Durham real estate in Whitby, Brooklin or other areas within Durham region please contact me.

Randy Miller 
Sales Representative 
Re/Max Rouge River Realty Ltd., Brokerage 
905-668-1800 or 905-427-1400 

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