Media Release - Ontario Home Builders Association

The Ontario Home Builder Association has just release their expectations for 2010. Builders in Ontario are optimistic for the future. Growing demand and a strong real estate market has given builders a positive attitude towards their future developments. We can expect to see plenty of new home construction and opportunities in the near future. Ottawa can see even more than other major cities in Ontario due to the federal government and a strong economy.

See below for media release from the Ontario Home Builder Association,

Ontario Home Builders’Association
MEDIA RELEASE

Over 80% of Builders Optimistic for Housing in 2010
Survey Says HST is top issue for industry

December 8, 2009 – Toronto, ON – In a survey of the Ontario Home Builders’ Association (OHBA) membership,builders and renovators are cautiously optimistic with nearly 4 in 5 anticipating 2010 residential construction activity will be equal or better than it was in 2009.

Hot on the heels of a difficult year, housing starts have improved the last few months with an 11% increase in November starts as reported by CMHC today. With housing activity improving, 22% of builders and renovators plan to hire new staff in 2010. “The residential construction industry appears to be on the road to recovery,” said OHBA President James Bazely, adding, “We are cautiously optimistic that next year the new housing and renovation sectors will be positive contributors to job creation and economic growth.”

OHBA members surveyed said the incoming harmonized sales tax was the top issue for the residential construction industry going into 2010. “One of our members top concerns was whether or not they would actually see any tax savings passed on from suppliers and manufacturers that they could in turn pass onto consumers,” noted Bazely,
adding, “The general sentiment is that while some savings should occur by removing embedded taxes, new home builders and renovators will believe it when they see it.” Bazely continued, “The primary issue for renovators is the threat of a growing underground ‘cash’ economy when the sales tax jumps from 5% to 15%. This will rob the government of tax revenue and expose consumers to higher risks.”

“We are still facing a lot of economic uncertainty, especially with the impact of new sales taxes coming into effect next year. But we do see the housing market stabilizing and an increase in housing starts in 2010,” concluded Bazely. CHMC has forecasted housing starts to improve from 47,400 in 2009 to 56,500 in 2010.




The Ontario Home Builders’ Association is the voice of the residential construction industry in Ontario representing 4,000 member companies organized into 29 local associations across the province. The industry contributes over $37 billion dollars to Ontario’s economy, employing over 360,000 people across the province.

For more information on new homes in Ottawa and to contact the Bennett Team visit www.bennettpros.com