Category: Real Estate

Toronto home sales up 14.2% in November, prices see highest gains of the year

CanadianInvestor
Toronto home sales up 14.2% in November, prices see highest gains of the year
Toronto home sales in November rose 14.2 per cent from a year ago while home prices saw their strongest growth for the year. The Toronto Real Estate Board says there were 7,090 home sales in the month as sales rose in all major market segments. The board says strong population growth and declining mortgage rates helped push up sales and competition between... Read More

Toronto man sues Airbnb after being shot at party house booked through platform

CanadianInvestor
Toronto man sues Airbnb after being shot at party house booked through platform
TORONTO — A Toronto man is suing Airbnb after being shot while attending a large party at a house rented through the online platform. Sean McCann, a 19-year-old Humber College student, was shot in the pelvis on April 27 at a party in the city’s Etobicoke region that was advertised online. His statement of claim says he is seeking $5 million in damages against Airbnb,... Read More

Catalyst Capital Group makes rival takeover offer for Hudson’s Bay Co.

CanadianInvestor
Catalyst Capital Group makes rival takeover offer for Hudson’s Bay Co.
The groups behind competing offers to take Canada’s oldest retailer private engaged in a public war of words Wednesday after Catalyst Capital Group made an alternative offer to Hudson’s Bay Co. shareholders. “We are pleased to offer all HBC shareholders a superior offer to the flawed and coercive transaction constructed by (HBC executive chairman) Richard Baker,” said Gabriel de Alba, managing director... Read More

Tech hubs in smaller cities gaining traction as companies hunt for labour

CanadianInvestor
Tech hubs in smaller cities gaining traction as companies hunt for labour
TORONTO — A new report says Toronto still dominates Canada’s tech scene, but smaller markets are making inroads as companies compete to find talent. The report by real estate services firm CBRE notes that while Toronto’s tech talent pool grew by 54 per cent between 2013 and 2018, numerous smaller cities like Hamilton, Guelph, Ont., and Regina also notched strong... Read More

Sidewalk Labs and Plaza Ventures launch fund focused on urban tech

CanadianInvestor
Sidewalk Labs and Plaza Ventures launch fund focused on urban tech
TORONTO — Google sister company Sidewalk Labs has partnered with Plaza Ventures to launch a venture capital fund focused on urban technology. The fund, which includes a $10-million commitment from Sidewalk tied to its proposed Quayside development in Toronto, will focus on a range of early stage Canadian companies that fall under the category. Nicole LeBlanc, director of investments at Sidewalk Labs,... Read More

Tribunal upholds Toronto rules on short-term rentals like Airbnb

CanadianInvestor
Tribunal upholds Toronto rules on short-term rentals like Airbnb
TORONTO — An Ontario tribunal has upheld rules passed by the City of Toronto on short-term rentals like Airbnb. The Local Planning Appeal Tribunal says it has dismissed an appeal by several residents who objected to the rules that put limits on how people can rent out their properties. Tribunal member Scott Tousaw says in his ruling that while the exact numbers involved are in dispute, it’s... Read More

CREA: national home sales up 12.9 per cent in October compared with last year

CanadianInvestor
CREA: national home sales up 12.9 per cent in October compared with last year
OTTAWA — The Canadian Real Estate Association says the number of home sales was up 12.9 per cent nationally in October compared with the same month last year. It says sales activity last month was almost the same as for September, but up almost 20 per cent from a six-year low reached in February. Home sales are still about seven per cent below the heights... Read More

Home Capital reports Q3 profit up from year ago, mortgage originations up

CanadianInvestor
Home Capital reports Q3 profit up from year ago, mortgage originations up
TORONTO — Home Capital Group Inc. reported its third-quarter profit rose compared with a year ago as its mortgage originations also climbed higher. The alternative mortgage lender says it earned $39 million or 67 cents per diluted share for the quarter ended Sept. 30, up from a profit of $32.6 million or 41 cents per diluted share in the same quarter... Read More

Research, experimentation key to finding the right price for your Airbnb rental

CanadianInvestor
Research, experimentation key to finding the right price for your Airbnb rental
Carolyn Hocquard wanted to make some extra cash to cover rent, when her mom moved out of their downtown Halifax home four years ago. So the social media and web design worker did what thousands in the country have done: rent their place to visitors for short stays using Airbnb. But before Hocquard could open her two spare rooms to... Read More

Five things to watch for in the Canadian business world in the coming week

Editor
Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Recipe Unlimited earnings Recipe Unlimited Corp. reports its third-quarter results on Monday. The company — which owns a wide range of restaurant brands including Swiss Chalet, Harvey’s, East Side Mario’s, Kelseys and Milestones — reported lower second-quarter sales and profit in August due to a... Read More