Real Estate – Canadian Investor

Canadian home sales climb higher in April, boosted by Toronto and Montreal

May 15, 2019 CanadianInvestor

OTTAWA — The Canadian Real Estate Association says home sales in April posted their first year-over-year increase since December 2017. The association says home sales last month were up 4.2 per cent compared with a year ago, when they hit a seven-year low for the month. The improvement came as gains in Montreal and the Toronto region outweighed a decline... Read More

Fast-growing WSP Global boosts Q1 profit after Louis Berger purchase

May 14, 2019 CanadianInvestor

MONTREAL — WSP Global Inc. bolstered revenues and profit in its first full quarter with Louis Berger Holdings Inc. under its umbrella, as the Quebec engineering giant aims to continue its rapid expansion. The company saw its net earnings jump more than 10 per cent from a year ago to $62 million. The gain came largely due to its $400-million purchase, completed in December, of... Read More

Home Capital Group first-quarter profit slips as mortgage originations rise

May 8, 2019 CanadianInvestor

TORONTO — Home Capital Group Inc. says its first-quarter net income slipped by nearly 20 per cent from a year ago despite growth in its mortgage portfolio. The alternative mortgage lender saw mortgage originations rise 4.9 per cent to $1.22 billion during the three-month period ended March 31, compared with $1.16 billion a year earlier. But Home Capital’s earnings for the quarter... Read More

RioCan Real Estate Investment Trust reports Q1 profit up from year ago

May 7, 2019 CanadianInvestor

TORONTO — RioCan Real Estate Investment Trust reported its first-quarter profit rose compared with a year ago, boosted by gains in the value of its investment properties. The trust says it earned $194.5 million or 64 cents per diluted unit in its latest quarter, up from $137.2 million or 43 cents per diluted unit in the same quarter last year.... Read More

Bank of Canada’s Poloz says mortgage market should offer more product choices

May 6, 2019 CanadianInvestor

OTTAWA — Bank of Canada governor Stephen Poloz says it’s time for fresh ideas when it comes to Canadians’ mortgage options. Poloz said in a speech Monday that changes could include encouraging loan terms longer than five years, the creation of a market for private mortgage-based securities and the launch of shared-equity mortgages for first-time home buyers. More innovation would help boost flexibility for borrowers, lenders... Read More

Toronto home sales jump higher in April, average price up from year ago

May 6, 2019 CanadianInvestor

TORONTO — The Toronto Real Estate Board says home sales in April climbed nearly 17 per cent higher compared with a year ago. The board says 9,042 homes were sold last month compared with 7,744 in April 2018. The increase came as the average price rose to $820,148 for the month compared with $804,926 in the same month last year. New... Read More

April another lethargic month for Metro Vancouver home sales: Real estate board

May 2, 2019 CanadianInvestor

VANCOUVER — Home sales remained sluggish across Metro Vancouver in April and real estate analysts slam government policies for the lack of activity. The Real Estate Board of Greater Vancouver says residential home sales last month were 43.1 per cent below the 10-year April sales average. Across the region, April sales totalled 1,829, a 29 per cent decrease compared with sales... Read More

Average farmland value rises nearly seven per cent in 2018: Farm Credit Canada

April 29, 2019 CanadianInvestor

The average value of Canadian farmland rose nearly seven per cent last year, according to a new report, but that growth rate is likely to be cut in half over 2019 amid ongoing canola trade issues with China. The 6.6 per cent gain for 2018 comes after an 8.4 per cent jump for 2017 and 7.9 per cent for 2016, according... Read More

Self-employed increasingly turning to private lenders for mortgages

April 25, 2019 CanadianInvestor

TORONTO — The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage. While many prospective homeowners are driven to alternate lenders because of government-mandated stress tests and poor credit scores, the self-employed often have additional burdens to overcome in proving their income. “There’s more and more people seeking private loans than ever... Read More

Home sales fall 4.9% in slow start to spring buying season

April 22, 2019 CanadianInvestor

WASHINGTON — Sales of existing U.S. homes fell in March after a huge gain the previous month, held back partly by a sharp slowdown among the most expensive properties. The National Association of Realtors says home sales fell 4.9% to a seasonally adjusted annual rate of 5.21 million, down from 5.48 million in February. The drop followed an 11.2 per... Read More