Attachment: Economic Dashboard Presentation – September ......Jan-08 Jul-08 Jan-09 Jul-09 Jan-10...
44
Economic Dashboard September 4, 2015 toronto.ca/business | toronto.ca/culture
Transcript of Attachment: Economic Dashboard Presentation – September ......Jan-08 Jul-08 Jan-09 Jul-09 Jan-10...
Economic Dashboard September 4 2015
torontocabusiness | torontocaculture
Indicator HighlightsNote Top symbol compares how Torontorsquos position has changed bottom symbol compares Torontorsquos performance to Canada
Same Month Previous Most Recent Geography Last Year Month Month Status
Unemployment Rate Toronto 103 72 70 August 2015 (3 Month Average SA) Canada 70 68 68
64 9 658 65 3 Participation Rate Participation Rate Toronto Toronto 649 65 8 653 August 2015 (3 Month Average SA) Canada 659 658 658
Employment Rate Toronto 582 610 607 August 2015 (3 Month Average SA) Canada 613 613 613
Total Value of Building Permits Toronto $493 million $881 million $865 million $9 4 billion $77 billion $8 9 billion June 2015 (3 Month Average) June 2015 (3 Month Average) Canada Canada $94 billion $7 7 billion $89 billion
High Rise Buildings Under Construction Toronto 137 133 133 August 2015 (skyscraperpagecom)
Office Vacancy Rate Toronto 65 62 62 Q2 2015
Average House Price Toronto $576552 $682264 $618202 July 2015 Canada $404567 $453560 $441464
Business Bankruptcies Toronto CMA 125 146 136 Q1 2015 Canada 1060 1132 1088
Employment Insurance Recipients Toronto 22310 20910 20310 June 2015 Canada 332260 413190 358860
Inflation Rate Toronto CMA 27 11 18 July 2015 (Year-to-Year) Canada 21 10 13
Retail Sales Toronto CMA $605 billion $635 billion $638 billion June 2015 (3 Month Average SA) Canada $4215 billion $4270 billion $4290 billion
LFS LFS
Negative Caution Positive
2
Real GDP Growth Toronto CMA
Moodys Conf Board
25
20
15
10
05
00
Historical Forecast
13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2 15q3 15q4 16q1 16q2 16q3 16q4
Source Conference Board of Canada (August 7 2015) Moodyrsquos Analytics (August 5 2015)
3
Percent Change in GDP Toronto CMA
Quarterly Annual
Conference Conference Oxford Moodys Board Moodys Board Economics Average
13q1 104 050 13q2 213 084 13q3 044 055 13q4 032 072 397 193 443 344 14q1 037 052 14q2 099 091 14q3 079 128 14q4 076 075 271 309 264 281 15q115q1 0 09 009 0 31 031 15q2 089 029 15q3 088 101 15q4 084 055 263 262 234 253 16q1q 082 074 16q2 077 069 16q3 074 067 16q4 071 067 327 279 306 304
Source Conference Board of Canada (Aug 7 2015) Moodyrsquos Analytics (August 5 2015) Oxford Economics (Jun 30 2015)
4
Jobs in the City of Toronto Establishment Survey
(000
s)
1400
1350
1300
1250
1200
1150
1100
FTA Jan 1989
DOT Com Bust 2001
Global Credit Crisis 2008
EU Debt Crisis 2011
GST Jan 1991
SARS 2003
NAFTA Jan 1994
87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
Source City Planning Division Research and Information
5
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Indicator HighlightsNote Top symbol compares how Torontorsquos position has changed bottom symbol compares Torontorsquos performance to Canada
Same Month Previous Most Recent Geography Last Year Month Month Status
Unemployment Rate Toronto 103 72 70 August 2015 (3 Month Average SA) Canada 70 68 68
64 9 658 65 3 Participation Rate Participation Rate Toronto Toronto 649 65 8 653 August 2015 (3 Month Average SA) Canada 659 658 658
Employment Rate Toronto 582 610 607 August 2015 (3 Month Average SA) Canada 613 613 613
Total Value of Building Permits Toronto $493 million $881 million $865 million $9 4 billion $77 billion $8 9 billion June 2015 (3 Month Average) June 2015 (3 Month Average) Canada Canada $94 billion $7 7 billion $89 billion
High Rise Buildings Under Construction Toronto 137 133 133 August 2015 (skyscraperpagecom)
Office Vacancy Rate Toronto 65 62 62 Q2 2015
Average House Price Toronto $576552 $682264 $618202 July 2015 Canada $404567 $453560 $441464
Business Bankruptcies Toronto CMA 125 146 136 Q1 2015 Canada 1060 1132 1088
Employment Insurance Recipients Toronto 22310 20910 20310 June 2015 Canada 332260 413190 358860
Inflation Rate Toronto CMA 27 11 18 July 2015 (Year-to-Year) Canada 21 10 13
Retail Sales Toronto CMA $605 billion $635 billion $638 billion June 2015 (3 Month Average SA) Canada $4215 billion $4270 billion $4290 billion
LFS LFS
Negative Caution Positive
2
Real GDP Growth Toronto CMA
Moodys Conf Board
25
20
15
10
05
00
Historical Forecast
13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2 15q3 15q4 16q1 16q2 16q3 16q4
Source Conference Board of Canada (August 7 2015) Moodyrsquos Analytics (August 5 2015)
3
Percent Change in GDP Toronto CMA
Quarterly Annual
Conference Conference Oxford Moodys Board Moodys Board Economics Average
13q1 104 050 13q2 213 084 13q3 044 055 13q4 032 072 397 193 443 344 14q1 037 052 14q2 099 091 14q3 079 128 14q4 076 075 271 309 264 281 15q115q1 0 09 009 0 31 031 15q2 089 029 15q3 088 101 15q4 084 055 263 262 234 253 16q1q 082 074 16q2 077 069 16q3 074 067 16q4 071 067 327 279 306 304
Source Conference Board of Canada (Aug 7 2015) Moodyrsquos Analytics (August 5 2015) Oxford Economics (Jun 30 2015)
4
Jobs in the City of Toronto Establishment Survey
(000
s)
1400
1350
1300
1250
1200
1150
1100
FTA Jan 1989
DOT Com Bust 2001
Global Credit Crisis 2008
EU Debt Crisis 2011
GST Jan 1991
SARS 2003
NAFTA Jan 1994
87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
Source City Planning Division Research and Information
5
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Real GDP Growth Toronto CMA
Moodys Conf Board
25
20
15
10
05
00
Historical Forecast
13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2 15q3 15q4 16q1 16q2 16q3 16q4
Source Conference Board of Canada (August 7 2015) Moodyrsquos Analytics (August 5 2015)
3
Percent Change in GDP Toronto CMA
Quarterly Annual
Conference Conference Oxford Moodys Board Moodys Board Economics Average
13q1 104 050 13q2 213 084 13q3 044 055 13q4 032 072 397 193 443 344 14q1 037 052 14q2 099 091 14q3 079 128 14q4 076 075 271 309 264 281 15q115q1 0 09 009 0 31 031 15q2 089 029 15q3 088 101 15q4 084 055 263 262 234 253 16q1q 082 074 16q2 077 069 16q3 074 067 16q4 071 067 327 279 306 304
Source Conference Board of Canada (Aug 7 2015) Moodyrsquos Analytics (August 5 2015) Oxford Economics (Jun 30 2015)
4
Jobs in the City of Toronto Establishment Survey
(000
s)
1400
1350
1300
1250
1200
1150
1100
FTA Jan 1989
DOT Com Bust 2001
Global Credit Crisis 2008
EU Debt Crisis 2011
GST Jan 1991
SARS 2003
NAFTA Jan 1994
87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
Source City Planning Division Research and Information
5
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Percent Change in GDP Toronto CMA
Quarterly Annual
Conference Conference Oxford Moodys Board Moodys Board Economics Average
13q1 104 050 13q2 213 084 13q3 044 055 13q4 032 072 397 193 443 344 14q1 037 052 14q2 099 091 14q3 079 128 14q4 076 075 271 309 264 281 15q115q1 0 09 009 0 31 031 15q2 089 029 15q3 088 101 15q4 084 055 263 262 234 253 16q1q 082 074 16q2 077 069 16q3 074 067 16q4 071 067 327 279 306 304
Source Conference Board of Canada (Aug 7 2015) Moodyrsquos Analytics (August 5 2015) Oxford Economics (Jun 30 2015)
4
Jobs in the City of Toronto Establishment Survey
(000
s)
1400
1350
1300
1250
1200
1150
1100
FTA Jan 1989
DOT Com Bust 2001
Global Credit Crisis 2008
EU Debt Crisis 2011
GST Jan 1991
SARS 2003
NAFTA Jan 1994
87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
Source City Planning Division Research and Information
5
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Jobs in the City of Toronto Establishment Survey
(000
s)
1400
1350
1300
1250
1200
1150
1100
FTA Jan 1989
DOT Com Bust 2001
Global Credit Crisis 2008
EU Debt Crisis 2011
GST Jan 1991
SARS 2003
NAFTA Jan 1994
87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
Source City Planning Division Research and Information
5
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Jobs in the City of Toronto Establishment Survey
Total Employment Y-Y Change (000s) (000s)
1987 12758 1988 13193 435 1989 13565 372
Source City Planning Division Research and Information
1990 1991 1992 1993 1994 19951995 1996 1997 1998 1999 2000 20012001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122012 2013 2014
13501 12720 12329 11918 11689 1 169 9 11699 11542 11785 11970 12582 12884 1 286 3 12863 12633 12537 12570 12622 12780 13016 13108 12932 12983 13173 1 331 6 13316 13636 13844
6
-64 -781 -391 -411 -229 1 0 10
-157 243 185 612 302 2 1 -21
-230 -96 33 52 158 236 92
-176 51
190 14 3 143 320 205
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Business Climate Toronto Ranks Well Internationally ndash General Rankings
Arcadis ndash Sustainable Cities Index ndash 2015 Toronto ranks 12th of 50 global cities from 31 countries based on three dimensions of sustainability social environmental and economic
KPMGrsquos Comparative Alternatives Study ndash Focus on Tax - 2014 Toronto ranks 1st of 51 major international cities for the worldrsquos most tax-competitive major city ahead of Vancouver (2nd) amp Montreal (3rd)
Intelligent Community Forum ndash The Worldrsquos Top Intelligent Community ndash 2014 Toronto ranks 1st of the top 7 communities (out of 21 global communities in 8 countries) for its diverse economy with key clusters in finance media information and communication technologies and film production as well as its success as a magnet for immigrants
KPMGrsquos Comparative Alternatives Study ndash Business Location Costs - 2014 Toronto ranks 2nd of 34 Canadian and US cities with population of 2 million or more for lowest business costs
Toronto Region Board of Trade ndash Scorecard on Prosperity - 2014 Toronto ranks 3rd of 24 global metropolitan regions
PricewaterhouseCoopers - Cities of Opportunity - 2014 Toronto ranks 4th of 30 cities globally in current social and economic performance
B t C lti G M t P l D ti ti f J b S k 2014Boston Consulting Group ndash Most Popular Destinations for Job-Seekers ndash 2014 Toronto ranks 8th out of 25 global cities
Forbes Magazinendash The Worldrsquos Most Influential Cities ndash 2014 Toronto ranks 10th of 58 global cities for global influence
fDI Magazine ndash American Cities of the Future - 2013 Toronto ranks 2nd of 10 North American cities for attractiveness for inward investment
Reputation Institute ndash Reputable Cities ndash 2013 Toronto ranks 2nd of 100 global cities for reputation
Aon Hewitt ndash People Risk Index ndash 2013 Toronto ranks 3rd of 138 gglobal metropolitan areas for lowest risk in the world for recruiting empp y gloying amp relocatingg employeesp g p y
Economist Intelligence Unit and CitiGroup ndash City Competitiveness Index- 2013 Toronto ranks 10th of 120 cities for global competitiveness
7
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
ndash -
Educ
atio
n QQ
ualit
y of
Life
B
anki
ng
Business Climate Toronto Ranks Well Internationally ndash Sectoral Rankings
ZY G Gl b l Fi i l C t I d 17 2015ZYen Group ndash Global Financial Centres Index 17 ndash 2015 Toronto ranks 11th of 82 global financial centres
Grosvenor ndash International Index of Worldrsquos Most Resilient Cities - 2014 Toronto ranks 1st out of 50 global cities for long-term real estate investment
Bloomberg Study ndash Worldrsquos Strongest Banks ndash 2013Bloomberg Study World s Strongest Banks 2013 CIBC (3rd) Royal Bank (4th) Scotiabank (7th) and TD Bank (8th) all headquartered in Toronto rank among the top 10 strongest banks out of 78 global banks
The Economist ndash Best Place to Live ndash 2015 Toronto ranks 1st out of 50 global cities for the best place to live based on 6 of its indexes
The Economist Intelligence Unit ndash Global Liveability Rankingndash 2015 Toronto ranks 4th out of 140 global cities for the best place to live based on 30 indicators
The Economist ndash The Safe Cities Index ndash 2015 Toronto ranks 8th out of 50 global cities for safety (eg digital security health security infrastructure safety and personal safety)
Mercer Consultingndash Quality of Living Ranking Survey - 2015 Mercer Consulting Quality of Living Ranking Survey 2015 Toronto ranks 15th out of top 35 North American cities and 15th out of 230 global cities for liveability
Transit Score - A Measure of How Well a Location is Served by Public Transit - 2014 Toronto ranks 3rd of 70 in Canadian and US cities and 1st in Canada
The Economist Intelligence Unit ndash Liveability Ranking - 2014 Toronto ranks 4th of 140 cities for liveability
QS Best Student Cities ndash University Ranking - 2015 Toronto ranks 9th of 50 global cities
Times Higher Education ndash World University Rankings - 2015 University of Toronto ranks 20th of 400 global universities University of Toronto ranks 20th of 400 global universities
Shanghai Jiao Tong University ndash Academic Ranking of World Universities - 2014 University of Toronto ranks 24th of 1000 global universities
8
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Unemployment Rate
City 905 Ontario Canada
120
11 0 110
100
90
80
70
60
50 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
9
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Unemployment Rate
CitCity 905 905 O t iOntario C dCanada
Aug-14 100 65 73 70
Sep-14 95 66 73 69
Oct-14 89 67 67 66
Nov-14Nov 14 8888 7373 7070 6767
Dec-14 82 78 70 67
Jan-15 73 73 69 66
Feb-15 81 68 69 68
Mar-15 78 67 69 68
Apr-15 75 68 68 68
May-15 76 64 65 68
Jun-15 72 62 65 68
Jul-15 67 60 64 68
A 1Aug-15 171 474 6 8 68 070
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
10
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Participation Rate
City 905 Ontario Canada
740
730
720
710
700
690
680
670
660
650
640 640
630
620 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
11
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Participation Rate
CityCity 905905 OntarioOntario CanadaCanada
Aug-14 647 684 657 658
Sep-14 641 682 657 659
Oct-14 641 687 657 659
Nov-14 635 692 656 658
Dec-14 637 680 654 657
Jan-15 635 677 653 657
Feb-15 639 681 654 658
Mar-15 647 672 653 659
Apr-15 653 671 651 658
May-15 664 678 652 659
Jun-15 658 681 653 658
Jul-15 651 692 652 657
Aug-15 649 707 653 659
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
12
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Employment Rate Employment Population age 15+
670
660
650
64 0 640
630
620
61 0 610
600
590
58 0 580
570
560 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
680
690
City 905 Ontario Canada
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data ndash (August2015) City of Toronto Series is Seasonally Adjusted by City of Toronto
13
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Employment Rate Employment Population age 15+
City 905 Ontario Canada Aug-14 582 639 609 612 Sep-14 580 637 609 613 Oct-14 584 641 613 615
Nov-14Nov 14 57 9 579 64 1 641 61 0 610 61 4 614 Dec-14 584 626 608 613 Jan-15 589 627 608 614 Feb-15 587 635 609 613 Mar-15 597 627 608 614 Apr-15 604 625 607 613 May-15 614 635 610 614 Jun-15 611 639 610 613 Jul-15 607 651 610 613 Aug 15Aug-15 60 3 603 65 5 655 60 9 609 61 3 613
Source Statistics Canada ndash Labour Force Survey ndash Seasonally Adjusted Monthly Data City of Toronto Series is Seasonally Adjusted by City of Toronto
14
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Unemployment Rate Major Canadian Urban Regions
100
110
Toronto Montreal Ottawa Calgary Edmonton Vancouver
80
90
60
70
40
50
20
30
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15
Source Statistics Canada ndash Labour Force Survey ndash (August2015) Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
15
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Unemployment Rate Major Canadian Urban Regions
Toronto Montreal Ottawa Calgary Edmonton Vancouver Aug-14 83 87 69 53 53 58 Sep-14 83 85 69 50 54 60 Oct-14 81 83 66 50 53 62 Nov-14 80 83 63 46 52 62 Dec-14 80 81 62 48 48 60 Jan-15 78 78 69 47 48 58 Feb-15 76 75 72 50 48 59 Mar-15 73 75 72 52 53 60 Apr 15Apr-15 7 3 73 7 7 77 6 9 69 5 3 53 5 8 58 6 1 61 May-15 71 83 66 55 63 62 Jun-15 69 87 65 59 59 61 Jul-15 66 89 64 66 57 60 Aug-15 67 89 65 66 55 57
Source Statistics Canada ndash Labour Force Survey Seasonally Adjusted 3 Month Moving Averages CANSIM Table 282-0135
16
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Population Change by Component City of Toronto
100000
120000
Natural Increase Intra-provincial Inter-provincial International Net Change
40000
60000
80000
0
20000
40000
-60000
-40000
-20000
-100000
-80000
02 03 04 05 06 07 08 09 10 11 12 13 14
Source Statistics Canada Population Estimates CANSIM Tables 051-0063 and 051-0064
17
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Intra-Provincial Migration by Age City of Toronto
2000
4000
20032004 20132014
-2000
0
-6000
-4000
-12000
-10000
-8000
-14000
12000
-1 y
ear
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85-8
9
90+
Source Statistics Canada Population Estimates CANSIM Table 051-0063
18
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
High Rise Buildings Under Construction North American Cities
180
160
140
120
100100
80
60
40
20
145
163
128
109
95
August 2014
August 2015
72 72 76
95
51
35 35 28
23
36
11 12 8 10 10
40 42
24 25
51
17
34
9 9
26
8 10 109 9
0
Source wwwemporiscom - Updated August 24 2015
19
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
5
10
15
20
25
30
35
Tallest Buildings Under Construction City of Toronto
BBuilding uilding Addr MetrMetres es Feet Fl rs Year ess Feet Floors Year Address oo1 Number One Bloor 1 Bloor St E 257 844 75 2016 2 Harbour Plaza Residences East 90 Harbour St 233 764 66 2017 3 Ten York 10 York St 224 735 65 2019 4 Harbour Plaza Residences West 1 York St 224 735 62 2017
Massey Tower 197 Yonge St 208 683 60 2018 6 88 Scott 88 Scott St 204 669 58 2017 7 YC Condos 460 Yongge Street 199 651 60 2019 8 Bay-Adelaide Centre East Tower 333 Bay St 196 643 44 2016 9 E Condos South 8 Eglinton E 196 642 58 2017
EY Tower 100 Adelaide St W 188 617 40 2017 11 CASA II 42 Charles St E 185 605 57 2016 12 Lighthouse Tower Condominium 132 Queens Quay East 182 598 48 2019 13 INDX Condominiums 66 Temperance St 179 587 54 2016 14 One York Street 1 York St 174 569 35 2016
L t th W t f t 2151 L 2151 Lake Sh Shore Blvd W d W 168 550 4949 2016 15 Lagos at the Waterfront k Bl 168 550 2016 16 Karma 9 Grenville Street 166 544 50 2016 17 87 Peter 87 Peter St 154 505 49 -18 Bisha Hotel amp Residences 56 Blue Jay Ways 147 482 41 2016 19 The Britt 955 Bay St 139 456 41 2017
Studio2 on Richmond 199 Richmond Street West 131 430 41 2016 21 Cumberland at Yorkville Plaza Cumberland Street amp Avenue R125 409 39 2017 22 E Condos North 8 Egglinton E 123 403 38 2017 23 21 Dundas 21 Dundas St 122 400 39 2016 24 The Madison West 79 Dunfield Avenue 121 397 36 2015
Jade Waterfront Condos 2175 Lake Shore Boulevard W 112 366 34 2016 26 Minto 30 Roe 30 Roehampton Avenue 111 365 33 2016 27 The Madison East 79 Dunfield Avenue 111 364 33 2015 28 101 Erskine 101 Erskine Ave 106 349 32 -29 1 Thousand Bay Street 100 Bay Street 104 342 32 2016
id 162 Cumberland St 328 32 2015 30 EExhibit R hibit Residences 162 C b l d St 100 100 328 32 2015 31 Treviso II Condos Dufferin and Lawrence 93 305 29 2016 32 One Valhalla - Triumph 1 Valhalla Road 86 282 25 2016 33 Thompson Residences 550 Wellington St W 53 175 15 2015 34 Alto 2205 Sheppard Av East - - 43 2016
The Bond 290 Adelaide St W - - 41 2015 36 Avani 1 at Metrogate 2055 Kennedy Rd - - 35 2016 36 Omegga on the Park Esther Shiner Blvd and Provos- - 35 -38 Hotel X Exhibition Place - - 29 2015 39 Blue Diamond Condos at Imperial Plaza 1499 Yonge Street - - 26 2016
Source This list was composed on August 24 2015 from the CTBUH Tall Buildings Database
20
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
High Rise Buildings Under Construction North American Cities (Skyscraperpage)
120
140
70+ 60-69 50-59 40-49 30-39 20-29 9-19
80
100
60
80
20
40
0
Source wwwskyscraperpagecom - Updated August 24 2015
21
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
High Rise Buildings Under Construction City of Toronto by number of floors
Floors Number of Buildings Total Floors Percent of Total 70+ 1 75 20 60-69 7 439 115 50-59 8 442 116 40-49 17 750 197 30-39 26 890 234 20-29 19 464 122 9-19 55 744 196 Total 133 3804 1000
Source wwwskyscraperpagecom - Updated August 24 2015
22
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Total Value of Building Permits City and ldquo905rdquo area
$12
City 905 Municipalities
$08
$10
$06
Bill
ions
$0 2
$04
$00
$02
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
23
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
-
Total Value of Building Permits City and ldquo905rdquo area
3MMA 12MMA Billions $ Billions $
City 905 Municipalities City 905 Municipalities Jun-14 $049 $082 $063 $067 Jul-14 $069 $085 $066 $069 A 14Aug-14 $0 59 $059 $0 75 $075 $0 62 $062 $0 64 $064 Sep-14 $069 $079 $061 $069 Oct-14 $050 $081 $060 $070 Nov-14 $058 $090 $058 $071 Dec-14 $058 $072 $056 $070 Jan 15Jan-15 $0 58 $058 $0 68 $068 $0 57 $057 $0 70 $070 Feb-15 $048 $055 $054 $068 Mar-15 $043 $063 $055 $072 Apr-15 $084 $069 $063 $075 May-15 $088 $090 $064 $078 Jun-15Jun 15 $0 87 $087 $1 01 $101 $0 62 $062 $0 80 $080
Source Statistics Canada 3 month moving averages
24
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Value of ICI Building Permits City and ldquo905rdquo area
$800
$900
City 905 Municipalities
$600
$700
$400
$500
Mill
ions
$200
$300
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
25
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
-
Value of ICI Building Permits City and ldquo905rdquo area
3MMA 12MMA Millions $ Millions $
City 905 Municipalities City 905 Municipalities Jun-14 $1790 $2667 $2684 $2394 Jul-14 $2262 $2632 $2705 $2419 A 14Aug-14 $196 4 $1964 $220 4 $2204 $248 1 $2481 $212 5 $2125 Sep-14 $2657 $3604 $2612 $2460 Oct-14 $2368 $3898 $2514 $2575 Nov-14 $2424 $4014 $2330 $2643 Dec-14 $2070 $2417 $2065 $2567 Jan 15Jan-15 $212 1 $2121 $185 1 $1851 $214 4 $2144 $244 3 $2443 Feb-15 $2277 $1407 $2090 $2454 Mar-15 $2010 $1622 $2096 $2529 Apr-15 $5057 $1846 $2810 $2534 May-15 $5224 $2473 $2920 $2610 Jun-15Jun 15 $527 0 $5270 $307 4 $3074 $292 3 $2923 $263 5 $2635
Source Statistics Canada 3 month moving averages
26
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Value of Building Permits City of Toronto
$600
Residential Commercial Industrial Institutional
$400
$500
$300
Mill
ions
$100
$200
$0
$100
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada 3 month moving averages (June2015)
27
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Value of Building Permits City of Toronto
3MMA3MMA 12 MMA 12 MMA Millions $ Millions $
Residential Commercial Industrial Institutional Residential Commercial Industrial Institutional Jun-14 3143 1234 248 308 3654 2160 239 285 Jul-14 4621 1491 282 489 3857 2170 245 290 Aug-14Aug 14 39823982 13691369 209209 385385 36993699 19871987 238238 256256 Sep-14 4224 1993 139 525 3501 2099 231 282 Oct-14 2624 1891 188 290 3445 2038 195 280 Nov-14 3352 1874 227 323 3451 1876 165 289 Dec-14 3744 1418 354 298 3567 1563 189 313 Jan-15 3725 1522 270 329 3569 1632 190 322 Feb-15 2567 1513 476 288 3324 1529 244 317 Mar-15 2300 1508 290 211 3388 1526 244 326 Apr-15 3324 1718 343 2996 3533 1589 254 967 May-15 3582 2077 121 3027 3433 1704 258 958 Jun-15 3382 2000 218 3051 3320 1694 264 965
Source Statistics Canada 3 month moving averages
28
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Office Vacancy Rate amp Occupied Space Toronto Region
in Occupied Space ((bar s)
Vaaca
ncy
Rat
e (li
nes)
500000 90
80 0
70
-500000
60
-1000000 50
40 -1500000
1 500 000
2000000
120
130 City of Toronto 905 Municipalities
1000000
1500000
100
110
)C
hange
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
29
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Office Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) 905 905City of Toronto City of Toronto Municipalities Municipalities
09q1 49 65 -540593 -145773 09q2 63 76 -496133 -377490 09q3 68 81 1616200 126429 09q4 73 87 182200 -70085 10q1 72 97 84363 -325338 10q2 73 99 179855 274972 10q3 68 99 721938 -165920 10q4 70 97 -365962 226637 11q1 64 96 544547 64008 11q2 62 96 295276 -36926 11q3 56 92 710300 429508 11q4 54 97 859740 -101090 12q1 55 94 -185645 136145 12qq2 54 99 95035 13171 12q3 54 99 268342 453405 12q4 56 102 -364233 51801 13q1 55 97 93657 246178 13q2 53 103 90798 -179920 13q3 57 108 -787573 -169576
10 6 1615193 277 976 13q413q4 6 1 61 106 1 615 193 277976 14q1 67 113 -882039 -399133 14q2 65 110 163539 227349 14q3 61 111 496578 206356 14q4 61 112 1436571 418841 15q1 62 112 -467980 396235
12 1 -110363 14 168 15q215q2 6 2 62 121 110 363 -14168 Source Cushman amp Wakefield
30
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Office Vacancy Rates City of Toronto
110
120
Downtown Yonge Core Toronto East Toronto West
90
100
70
80
50
60
30
40
09q1 09q3 10q1 10q3 11q1 11q3 12q1 12q3 13q1 13q3 14q1 14q3 15q1
Source Cushman amp Wakefield
31
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Office Vacancy Rates City of Toronto
Downtown Yonge Core Toronto East Toronto West
09q1 44 66 108 40 09q2 49 70 112 42 09q3q 60 71 105 46 09q4 66 71 112 49 10q1 68 67 108 44 10q2 66 72 114 49 10q3 57 71 112 54 10q4 60 72 113 58 11q1q 53 67 106 60 11q2 51 59 102 74 11q3 50 51 83 64 11q4 47 49 84 59 12q1 49 48 89 60 12q2 45 52 94 58 12q3 43 53 95 62 12q4 44 58 93 71 13q1 44 56 94 64 13q2 41 52 99 61 13q3 46 54 108 60 13q4 50 64 103 57 14q1 58 67 105 60 14q2 55 66 110 61 14q3 49 61 109 63 14q4 48 62 107 73 15q1 51 64 105 68 15q2 51 62 102 74
Source Cushman amp Wakefield
32
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Quarterly Change in Occupied Office Space Toronto Region
2000000
1500000
1000000
500000
0
-500000
-1000000
-1500000
2 000 000
2500000
Downtown Rest of City 905
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source Cushman amp Wakefield
33
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Quarterly Change in Occupied Office Space Toronto Region
Occupied Office Space Change (sqft) Rest of City
North Toronto Toronto Toronto 905 Downtown Downtown Midtown Midtown YongeYonge DVP Core DVP Core EastEast NorthNorth WestMunicipalities WestMunicipalities
Q1 2010 -103903 69909 17577 42446 23318 -1665 36681 -325338 Q2 2010 907575 -139521 15651 -90709 -267857 -125930 -119354 274972 Q3 2010 596997 -34051 56240 41060 -35875 156984 -59417 -165920 Q4 2010 -174660 11060 -22891 4759 -17621 -128673 -37936 226637 Q1 2011 451268 25450 94190 -57156 48186 -16825 -566 64008 Q2 2011 Q2 2011 150167 150167 123177 123177 77343 77343 647647 53749 53749 -14889 14889 -94918 94918 -36926 36926 Q3 2011 89086 106976 120454 294661 23770 -2191 77544 429508 Q4 2011 834016 -15084 52532 -18826 -2438 -13152 22692 -101090 Q1 2012 -123053 39684 -17802 -35001 -45243 -1743 -2487 136145 Q2 2012 261265 -25198 -70300 -17575 -64748 -18954 30545 13171 Q3 2012 346852 -23174 -10202 -74619 59955 1625 -32095 453405 Q4 2012 -220613 -64377 -51144 55177 -19634 5296 -68938 51801 Q1 2013 19290 145244 -101310 -13685 -4781 764 48135 246178 Q2 2013 213308 -6764 -6665 -80226 -27167 -11183 9495 -179920 Q3 2013 -541353 -62096 14990 -176636 -29005 10756 -4229 -169576 Q4 2013 1755679 -129437 -117613 -8575 87697 -6113 33555 277976 Q1 2014 -553444 -58433 -35301 -188251 14920 -39400 -22130 -399133 Q2 2014 225206 -18278 41754 -52696 -19715 -1427 -11305 227349 Q3 2014 Q3 2014 410 018 410018 41 459 41459 49 609 49609 18 063 18063 11 195 -11195 7 422 -7422 3 954 -3954 206 356 206356 Q4 2014 1490333 60163 -76990 -16310 53868 -235 -74258 418841 Q1 2015 -433680 27011 -45089 -7694 9688 -26355 8139 396235 Q2 2015 -53695 -111198 48182 436 49773 -4463 -38962 -14168
Source Cushman amp Wakefield
34
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vaca
ncy
Rat
e (li
nnes)
Changee in O
ccupied Spacce (bars)
10000000
70
5000000
60
050
40 -5000000
30
-10000000
20
-15000000 10
00 -20000000
10 000 000
15000000
80
90
City of Toronto 905 Area
09q1 10q1 11q1 12q1 13q1 14q1 15q1
Source Cushman amp Wakefield
35
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Industrial Vacancy Rate amp Occupied Space Toronto Region
Vacancy Rates Occupied Change (sqft) City of Toronto 905 Municipalities City of Toronto 905 Municipalities
09q1 53 74 -6849098 12398923 09q2 58 78 -2118553 -371004 09q3 56 79 1665573 836616 09q4 09q4 5 5 55 7 6 76 416 959 416959 1 846 871 1846871 10q1 47 70 2175828 6436612 10q2 55 75 -1587995 -2445614 10q3 51 75 1472739 3296123 10q4 52 69 100627 -725771 11q1 52 70 -102911 -547405 11q2 49 70 -1295146 -822732 11q3 50 68 -720923 1592612 11q4 49 66 -158014 1280666 12q1 50 67 23038 -345781 12q2 49 67 80630 -434513 12q3q 48 68 -6887145 -7090257 12q4 49 69 -13886850 -19776376 13q1 51 68 -763209 2596625 13q2 51 60 -143071 3097327 13q3 55 60 -2081651 2051150 13q4 49 61 988530 645319 14q1 14q1 5 0 50 6 0 60 10 446 138 -10446138 13 311 227 -13311227 14q2 47 59 1358984 2389516 14q3 45 58 -422123 2420479 14q4 44 59 -752481 1398701 15q1 42 54 -244033 1828627 15q2 31 50 3382618 4456334
Source Cushman amp Wakefield
36
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Housing Starts Toronto CMA
12000
14000
City -singlesemirow City - apartments 905 - singlesemirow 905 - apartments
10000
12000
6000
8000
4000
0
2000
10q1 10q2 10q3 10q4 11q1 11q2 11q3 11q4 12q1 12q2 12q3 12q4 13q1 13q2 13q3 13q4 14q1 14q2 14q3 14q4 15q1 15q2
Source CMHC ndash Housing Now
37
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Housing Starts City -
singlesemirow City -
apartments 905 -
singlesemirow 905 -
apartments Toronto CMA
09q1 09q2 09q3 09q4 10q1 10q2 10q3 10q4 11q1 11 211q2 11q3 11q4 12q1 12q2 12q3 12q3
346 269 502 313 281 458 418 673 157 398398 469 705 485 452 519519
2696 2214 2769 2810 2242 3582 2686 3085 3276 5744 5744 4409 3814 4536 6833 6358 6358
1776 2644 2893 4337 3120 3620 3893 3492 2875 41544154 3813 4917 3420 4206 48254825
1086 512 548 234 26 302 848 469 2069 946946 1456 543 2241 1245 14971497
12q4 13q1 13q2 13q3 13q4 13q4
436 265 638 677 444444
5797 2960 3048 2887 4699 4699
4145 2528 3992 3294 35603560
1110 942 904 1376 13331333
Source CMHC ndash Housing Now
14q1 14q2 14q3 14q4 15 115q1 15q2
235 437 531 422 237237 474
4266 2331 1626 1823 5257 5257 2801
2589 4104 3237 3236 17731773 4581
2589 1686 1227 1179 969969 3131
38
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
MLS Sales and Prices City of Toronto
$700000
$800000
4500
5000
Units Sold Average Price
Uni
ts S
old
Average Price ($)
$100000
$200000
1000
1500
)
$00
4000
3500
3 000 3000
2500
2000
$600000
$500000
$400000
$300000
500
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Jul-1
5
Source Toronto Real Estate Board ndash (July2015)
39
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Ju 5 80 $6 0
MLS Sales and Prices City of Toronto
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 A 14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep 14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15Feb 15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Units Sold 3062 2665 2789 3190 2528 1574 1551 2136 2978 3 544 3544 4069 3795 3315 2760 3 063 3063 3420 2661 1762 1561 2 370 2370 3196 4071 4189 4406 34803
Average Price $536181 $518145 $571410 $593807 $$590366 $541771 $552395 $599414 $597401 $641 666 $641666 $652681 $617854 $576552 $564359 $624 851 $624851 $633078 $616130 $574539 $581477 $630 858 $630858 $655067 $690261 $718350 $682264 $6182028
Source Toronto Real Estate Board
40
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Monthly Retail Sales Toronto CMA
70
75 Not Seasonally Adjusted Seasonally Adjusted
60
65
50
55
Bill
ions
($)
40
45
30
35
Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Statistics Canada CANSIM Table 080-0020 ndash (June2015)
41
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
-
Monthly Retail Sales ($Billions) Toronto CMA
Unadjusted Seasonally Adjusted 3 Month 3 Month
Monthly Average Monthly Average Jun-13 601 599 563 573 Jul-13 579 604 579 574 Augg-13 604 595 585 575 Sep-13 573 585 585 583 Oct-13 584 587 578 583 Nov-13 608 588 577 580 Dec-13 663 618 577 577 Jan-14 512 594 588 581
5 48 589 5 85 FebFeb-1414 4 69 469 548 5 89 585 Mar-14 558 513 592 590 Apr-14 607 545 606 596 May-14 659 608 601 600 Jun-14 634 633 609 605 Jul-14 628 640 615 608 Aug-14 628 630 615 613 Sep-14 616 624 621 617 Oct-14 634 626 627 621 Nov-14 653 635 629 625 Dec-14 718 669 618 624
6 35 611 6 19 JanJan-1515 5 33 533 635 6 11 619 Feb-15 492 581 619 616 Mar-15 593 539 634 621 Apr-15 629 571 627 627 May-15 699 640 643 635 Jun-15 678 668 643 638
Source Statistics Canada CANSIM Table 080-0020
42
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Ontario Merchandise Exports amp US$ Exchange Rate
United States (US) All Others 1 CDN$ in US$
$100
$20
$22
$090
$14
$16
$18 1 CDN $ in US $
$080
$10
$12
Expo
rts
($ B
illio
ns)
$060
$070
$4
$6
$8
E
$050$0
$2
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15
Source Bank of Canada and Industry Canada (June2015)
43
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
Ontario Merchandise Exports amp US$ Exchange Rate
($Billions)($Billions) US All Others 1 CDN$ in US$
Jun-14 1431 318 092 Jul-14 1308 313 093 Aug-14 1368 301 092 Sep-14 1510 383 091 Oct-14 1544 382 089 Nov-14 1424 365 088 Dec-14 1442 363 082 Jan-15Jan 15 13861386 355355 083083 Feb-15 1346 311 080 Mar-15 1630 389 079 Apr-15 1541 306 081 May-15 1496 303 082 Jun-15 1722 334 081
Source Bank of Canada and Industry Canada
44
