Archive for the 'Teranet' Category

What’s in store for the Canadian real estate economy in 2019?

Stéfane Marion, Chief Economist and Strategist at the National Bank, shared insights into Canada’s economic future at the Teranet Market Inisghts Forum on March 29, 2019.

Marion gave an economic forecast for 2019 at the Forum, including sharing insights into the Canadian housing market.

Also on the March 29 agenda was the role of AI in real esatate. Roger Vandomme, Chief Data Scientist at SMC, shared ways that Canadian real estate professionals can use AI, predictive analytics, and more in their businesses.

It was a truly insightful morning and we thank everyone who spoke and attended.

See the full recap of the Teranet Market Insights Forum here: https://www.teranet.ca/commercial-solutions-blog/teranet-market-insights-forum-highlights-canadian-economy-forecast-ai-in-real-estate-applications-and-more/.

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The 2019 Canadian Mortgage Award nominations are now live! Teranet is a finalist in the Centum Award for Industry Service Provider of the Year.

Along with GeoWarehouse, Teranet offers a wide range of commercial and financial solutions for the real estate and mortgage industries using data from the Province of Ontario Land Registration Information System (POLARIS).

The Centum Award for Industry Service Provider of the Year recognizes the service provider that adds the most value to its customers’ businesses. Eligible service providers include but are not limited to software and technology, legal, compliance, training, and education.

The criteria considered for nominations included:

  • Unique value proposition and major strengths.
  • Industry’s need for the service.
  • Overall service and client strategy.
  • Major improvements or upgrades made in the last 12-18 months.
  • How the service has added value.
  • Overall commitment to its customers.

The Canadian Mortgage Awards are held April 26 at the Liberty Grand in Toronto. Learn more about the Awards here: http://canadianmortgageawards.com/

Congratulations to the all of the finalists and thank you for the nomination!

For more information about GeoWarehouse’s real estate industry services, powered by Teranet, please call 1-866-237-5937 or visit www.geowarehouse.ca.

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The Teranet Market Insights Report is trusted by real estate professionals to share insightful analysis into the Ontario housing market — and the March 2019 edition is no exception.

The latest Market Insights Report dives into a topic that has been front of mind for many in the mortgage industry: the B-20 Guideline, or mortgage stress test, first introduced in January of 2018.

In this report, Teranet data scientists examine what impact the stress test has had in the past year. We also look at mortgage market demographics and how the mortgage share is split between Ontario banks and lenders.

View the full report here: http://ci23.actonsoftware.com/acton/attachment/2216/f-aee8a670-3392-4fc8-ac7e-8eff651d086e/1/-/-/-/-/Teranet%20Market%20Insight%20Report%20March%202019.pdf

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Real estate professionals, the Teranet Market Insights Forum on February 12, 2019 is almost full. Don’t miss your chance to attend and receive exclusive insights into the Canadian housing market.

Details:
Tuesday, February 12, 2019
8:30 a.m. to 11:30 a.m.
MaRS Discovery District
101 College Street, Toronto, Ontario

Speakers

Stéfane Marion
Chief Economist and Strategist at National Bank

Stéfane Marion is Chief Economist and Strategist for National Bank of Canada and National Bank Financial, a position he has held since November 2008. Mr. Marion is a sought-after speaker on economic trends and their financial implications and is ranked among the leading economists in Canada, according to Brendan Wood International.

National Bank Financial’s Economics and Strategy team is regularly ranked among the top Canadian forecasters and has won recognition for the accuracy of its projections.

In 2012, the C.D. Howe Institute appointed Mr. Marion to its Monetary Policy Council and to the newly established Business Cycle Council. He also sits on the National Bank Pension Committee.

Mr. Marion joined NBF’s Economic Group in 1999. Previously Mr. Marion worked for several years in the federal departments of Finance and Industry in Ottawa, where, in addition to economic analysis and forecasting, he also worked on microeconomic policy impact studies. In particular, he participated in the development of forecasting models and the analysis of the FTA and NAFTA free-trade agreements with the United States and Mexico.

Mr. Marion holds a bachelor’s degree and a master’s degree in economics from the Université de Montréal.

Roger Vandomme
Chief Data Scientist at SMC

Roger’s career has been built on the fundamentals of data analysis, predictive modeling and related decision-making. With 20 years in the credit bureau industry, creating credit scores all around the world, Roger has an outstanding unmatched skill-set in the field of predictive modeling. He has completed numerous studies and research on decision heuristics and biases, developing reasoning methods and processes around systemic design and game theory.

Roger created and manages a decision science boutique, SMC, that helps companies and institutions to optimize their strategic decision-making process through the application of mathematical models, machine learning, and artificial intelligence.

Roger teaches business analytics and machine learning at University of Toronto, as well as operational planning at the Canadian Forces College.

Roger holds a master’s degree in applied mathematics from Paris University, an MBA from Queen’s University, and a Master in Defense Studies with the Royal Military College.

Mark Huttram
Director of Business Development and Marketing at Teranet

Mr. Huttram will reveal exclusive market insights and updates from Teranet.

Don’t miss this opportunity. Register for the February 12, 2019 Market Insights Forum here: http://ci23.actonsoftware.com/acton/media/2216/teranets-market-insight-forum

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NOVEMBER 15, 2018

Home price index down in October in all component markets except Montreal

In October the Teranet–National Bank National Composite House Price IndexTM was down 0.4% from the previous month.[1] An October decline is not the norm – this was only the fourth in 20 years of index history. It was also the first index decline in eight months. The most striking aspect of the retreat is its diffusion. For the first time since December 2014, the component indexes for 10 of the 11 metropolitan markets surveyed were down on the month – Victoria (−0.1%), Toronto (−0.2%), Winnipeg (−0.2%), Calgary (−0.3%), Ottawa-Gatineau (−0.4%), Hamilton (−0.5%), Edmonton (−0.7%), Vancouver (−0.8%), Quebec City (−1.0%) and Halifax (−1.0%). The exception was Montreal, whose seventh consecutive monthly gain (+0.2%) was consistent with its seller’s-market conditions. For Calgary it was the 10th month without a rise in the last 13 months, hardly surprising considering the worsening of market conditions over the period. For Vancouver it was the third consecutive month without a rise.

Teranet-National Bank National Composite House Price Index™

In October the composite index was up 2.8% from a year earlier, a larger 12-month rise than in August and September because a year earlier the index fell abruptly in those two months. October 12-month rises were well above the countrywide average in Victoria (5.2%) and Vancouver (4.6%) thanks to gains earlier this year and in Montreal (5.0%) and Ottawa-Gatineau (5.0%) thanks to gains in the last six months. Indexes were also up from a year earlier in Winnipeg (3.4%), Hamilton (2.8%), Halifax (2.4%) and Toronto (1.9%). Indexes were down from a year earlier in Edmonton (−0.5%), Quebec City (−0.6%) and Calgary (−1.4%).

Besides the Toronto and Hamilton indexes included in the composite index, indexes exist for sevenother urban areas of the Golden Horseshoe. In October, all of these were down from the previous month. Two of them, Barrie and Oshawa, were, like Toronto and Hamilton, below their peaks of Q3 2017. Indexes not included in the composite index also exist for seven markets outside the Golden Horseshoe, five of them in Ontario and two in B.C. In October. Three of these were down from the previous month. The 12-month rise of these indexes varied widely, from -0.1% in Thunder Bay to 11.4% in Windsor.

Of the 25 metropolitan-market indexes, only five did not decrease in October, the smallest diffusion of gains since December 2012.

For the full report including historical data, please visit www.housepriceindex.ca.

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The latest Teranet Market Insights Report #MIR is hot off the presses.

In this issue we take a deep dive into the recent surge in private mortgage lending in the GTA. We hope you enjoy!

Click here to download now.

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The eRegistration project team at The Property Registry (Teranet Manitoba) was recognized for their land registry search excellence this month.

They were nominated for a Partnership Award at the 20th Annual Manitoba Service Excellence Awards. These awards recognize the hard work, dedication, and outstanding efforts of all Manitoba Government employees who deliver service excellence every day.

The Partnership category specifically recognizes excellence in partnerships with one or more external partners. eRegistration is a collaboration between the Government of Manitoba and The Property Registry.

Congratulations, team! See the full press release here.

GeoWarehouse gives real estate professionals access to the most current and accurate land registry data in Canada. Learn more about our real estate tools today. Visit www.geowarehouse.ca.

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Expands Financial Solutions Business, Including Canadian Lien Searches

Teranet Inc. announced this week that its affiliated entity, CM Solutions Inc., entered into a definitive agreement with D+H Corporation to acquire D+H Collateral Management Corporation, a division of Finastra Holdings Inc.

D+H Collateral Management is a market leader in Canadian lien searches, lien registrations, asset recovery services, and insolvency management.

The agreement will significantly extend Teranet’s financial services business across Canada, including for those who need to mitigate real estate risk.

Learn more about the agreement here.

GeoWarehouse has tools that make you the expert in mitigating real estate risk and more. Find out about our solutions today at www.geowarehouse.ca.

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House prices stayed flat in March of 2018, according to data from the Teranet-National Bank House Price Index™.

This past month was the first time outside of a recession that the March composite index wasn’t up at least 0.2 percentage points from February and the first time outside of a recession when March indexes were only up for four of the 11 metropolitan markets.

The Toronto region was flat, and six other markets were down for the month.

Vancouver’s house price index increased — its 13th month-over-month increase in the past 15 months, taking prices to a new high. In comparison, the Toronto market was flat in March and over the past 15 months has gone down 7.3 per cent from its house price peak in July of 2017. In Toronto, however, its condo segment has remained unchanged since July.

The increase in Vancouver was the main reason the house price index stayed flat in March and didn’t decline overall.

“Without Vancouver, the composite index would have declined in March, and in five of the six preceding months,” National Bank economist Marc Pinsonneault said in a research note.

Vancouver’s index is expected to see more increases over the coming months. The average Vancouver region sale price was a record $906,896 in March.

Outside of Vancouver and Toronto, other markets continue to vary. Winnipeg, Quebec City, and Victoria all showed increases in March, but Montreal, Hamilton, Calgary, Ottawa-Gatineau, Halifax, and Edmonton were all down. In Ontario, Barrie, Guelph, Brantford, Kitchener, St. Catharines, Oshawa, and Sudbury all showed declines from last July.

Hamilton has particularly declined, dropping 5.9% cumulatively since August of 2017.

The March 2018 house price index was notable for two other reasons: it’s the smallest 12-month rise since May of 2016, and it’s the ninth consecutive deceleration from the record 14.2% of last June.

According to Pinsonneault, the flat reading in March reflects that both the Toronto and Vancouver housing markets have begun to flatten out.

“The decline was the most obvious in Toronto,” he wrote. “This drop was likely triggered by Ontario’s implementation of the 15 per cent [foreign buyer tax] followed by stricter rules for qualification for a mortgage and a rise in mortgage rates.”

Pinsonneault wrote that we could see national home prices remaining relatively even in the coming months.

A TD Bank commentary on the March house price index noted that mortgage rates have recently fallen, making the overall cost of ownership less expensive for buyers.

TD Economics analyst, Sonny Scarfone, provided further analysis to the Canadian Press.

“Markets experiencing a decline in home prices are facing a rising inventory of homes for sale on the market, following what appears to have been a number of years of over building,” Scarfone wrote.

“Meanwhile, home price pressures remain the strongest in cities facing tighter conditions — as a low number of homes for sale on the market has put the bargaining power in the hands of the seller. This is particularly true in Calgary and the single-family home market in Toronto. However, these cities also have a record number of new homes currently under construction, which should help alleviate some supply pressures in the coming months.”

See the full March 2018 House Price Index report at https://housepriceindex.ca/#maps=c11.

GeoWarehouse’s tools help your real estate business adapt to changing house prices. Identify property value, source new real estate leads, learn comparable sales, and more with our features. Find out about our services at www.geowarehouse.ca.

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We are honoured to be nominated for the first-ever Mortgage Awards of Excellence!

Teranet Inc. was nominated for the Product of the Year Award, sponsored by Centum Financial Group Inc.

This award recognizes a supplier that has put forth a unique product that has empowered the mortgage broker channel and has expanded the mortgage broker’s ability to be competitively differentiated in the marketplace.

This is the first event for the Mortgage Awards of Excellence. The newly launched awards were designed for the industry, by the industry. They’re meant to celebrate leadership, achievement, and the pursuit of distinction in Canada’s mortgage industry.

“These awards represent a collaborative industry initiative created to exemplify the spirit and inclusiveness of mortgage professionals from across the country,” states the Mortgage Awards of Excellence website.

“The mortgage industry is a strong pillar of the Canadian economy and these new awards will be the hallmark of achievement for individuals in all sectors.”

The Mortgage Awards of Excellence gala is on May 3, 2018 at the Paramount Event Venue in Woodbridge, Ontario. Teranet is a bronze sponsor for the Mortgage Awards of Excellence.

See all the details about the nominations and register to attend the ceremony at https://www.mortgageawards.org.

At Teranet, we provide accurate, up-to-date information that gives you the ability to thoroughly validate property information. Find out more by visiting www.teranet.ca.

 

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