Brookfield Property Partners Q4 profit US$1.55B Q4, up from US$858M a year ago

Brookfield Property Partners Q4 profit US$1.55B Q4, up from US$858M a year ago
TORONTO — Brookfield Property Partners LP earned US$1.55 billion in its latest quarter, up from US$858 million in the same quarter a year earlier. The real estate firm says the increase was due mostly to higher valuation gains in its Canada and United Kingdom office portfolios, as well as performance in several of its investments. Brookfield Property Partners, which keeps its... Read More

Vancouver-area home sales rebound from last year as prices inch downward

Vancouver-area home sales rebound from last year as prices inch downward
VANCOUVER — Sales remained steady while fewer people put their homes on the real estate market in Metro Vancouver last month. The Real Estate Board of Greater Vancouver reports residential home sales in January were 7.3 per cent below the 10-year average but still more than 42 per cent higher than sales during January 2019. Board president Ashley Smith says 2020 began with... Read More

New home sales rise in Greater Toronto Area after 2018 drop, says Altus Group

New home sales rise in Greater Toronto Area after 2018 drop, says Altus Group
TORONTO — Altus Group says new home sales in the Greater Toronto Area climbed 47 per cent last year after drops in both single-family and condo sales a year earlier. The real estate services firm says new single-family home sales of 9,523 were 2.5 times higher than 2018, when sales in the segment hit a 22-year low following tighter mortgage rules. Sales of new condos... Read More

Technology, data, starting to transform commercial real estate: survey

Technology, data, starting to transform commercial real estate: survey
TORONTO — A new report says technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions and take on more complex projects. Toronto-based Altus Group says a majority of 400 global commercial real estate executives surveyed are now seeing the disruptive impact of technology on the property sector for... Read More

Waterfront Toronto seeks extension for Sidewalk Labs decision day

Waterfront Toronto seeks extension for Sidewalk Labs decision day
TORONTO — Waterfront Toronto’s board is seeking more time to make a decision on whether to move forward with Sidewalk Lab’s proposal to build a smart city. The board now wants to make a decision about the controversial Quayside project pitched for a swath of Toronto’s lakefront by May 20, instead of by the March 31 deadline the two sides agreed on. Waterfront and Sidewalk Labs, owned by... Read More

US housing construction jumps 16.9% in December

US housing construction jumps 16.9% in December
WASHINGTON — Construction of new homes surged in December to the highest level in 13 years, capping a year in which falling mortgage rates and a strong labour market helped lift the prospects of the housing industry. The Commerce Department reported Friday that builders started construction on 1.61 million homes at a seasonally adjusted annual rate in December, up 16.9%... Read More

Recurring federal deficits could be risky for future generations, study says

Recurring federal deficits could be risky for future generations, study says
MONTREAL — By continuing to post deficits with no clear deadline for a return to balanced budgets, Ottawa is pursuing a risky strategy that could leave a steep bill for future generations, according to a study by HEC Montreal’s Centre for Productivity and Prosperity. In an analysis released Wednesday, the authors concede that the federal government’s decision to run deficits from 2015 to 2018 to stimulate growth was... Read More

CREA reports December home sales up 22.7 per cent compared with year ago

CREA reports December home sales up 22.7 per cent compared with year ago
OTTAWA — The Canadian Real Estate Association says home sales in December were up 22.7 per cent compared with a year ago when sales were relatively quiet. The association says sales in the final month of 2019 were up compared with a year ago earlier across most of Canada, including all of the largest urban markets. On a month-over-month basis,... Read More