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Cost of Severe Weather Damages in 2018 Fourth-Highest on Record

Posted in Communications, Exterior Building, Finance, Housing, Industry Trends, Insurance, Interior Building, Newsworthy

Cost of Severe Weather Damages in 2018 Fourth-Highest on Record

Insured damage for severe weather events across Canada reached $1.9 billion in 2018, according to Catastrophe Indices and Quantification Inc. (CatIQ) and the Insurance Bureau of Canada (IBC). Ice storms, floods, windstorms, and tornadoes, did damage to homes, vehicles, and commercial property across the country throughout the year. Damages in 2018 are the fourth-highest amount of losses on record in Canada. However, unlike with the Quebec ice storm in 1998, the Calgary floods in 2013, or the...

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How Quebec came to rule Canadian real estate in 2018

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law

How Quebec came to rule Canadian real estate in 2018

For residential real estate, 2018 was the year of Quebec. While housing markets lost steam in other parts of the country, Quebec’s market remained poised as sales and prices grew. That was one of the takeaways from data released this week by the Canadian Real Estate Association (CREA), which presented a broad picture of resale  markets across Canada. The data also raised some interesting questions: For instance, in a year in which prices and sales declined in many regions, was it the average...

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GTA’s average rent exceeds $2,300

Posted in Appraisal, CMHC, Communications, Finance, Housing, Industry Trends, Newsworthy

GTA’s average rent exceeds $2,300

The average condo apartment rental rate in the GTA has grown by 9.3% last year to exceed $2,300, according to Urbanation’s year-end 2018 rental market results released late last week. This marked the greatest rise ever since Urbanation began tracking the metric in 2010, the report stated. The 2018 increase also outstripped the 8.3% pace in 2017, contributing to the 4.1% overall average growth over the past 8 years. “Recent housing policy changes, combined with strong demand fundamentals and...

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Asset class takes industrial sector by storm

Posted in Appraisal, Communications, Finance, Industry Trends, Newsworthy, Technology

Asset class takes industrial sector by storm

Temperature-controlled industrial properties are a little-known, yet superlative, asset class that’s sure to grow in popularity among institutional investors. The facilities are designed to maintain temperatures as low as -29 degrees Celsius, which makes construction expensive and buy-ins prohibitive for many, but at below 1% of Canada’s overall industrial sector, it teems with opportunity. “It’s a great investment, not only for REITs, but institutional and private investors, as well,” said...

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Seniors housing touted as 2019’s safest investment

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Senior Housing

Seniors housing touted as 2019’s safest investment

With seniors slated to comprise nearly a quarter of Canada’s population by 2030, real estate that caters to their needs is being touted as one of the most investment-friendly sectors this year. That’s in spite of a somewhat volatile interest rate environment that’s expected to carry through 2019, says Montreal-based Fred Blondeau, an analyst with Echelon Wealth Partners. “The sector should be able to generate significant growth no matter how interest rates evolve, so we’re putting more...

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Montreal prices accelerate as sales reach new record

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Montreal prices accelerate as sales reach new record

Home prices in Montreal continued to grow as sales reached new heights last month, according to the Greater Montreal Real Estate Board. The median price of a single-family home in the market increased by 7% on a year-over-year basis in December, reaching $327,450. Meanwhile, the median price of plexes grew by 8% during the same time frame to settle at $525,000, and that of condos by 3% to $272,863. These coincided with the market’s achievement of a new home sales record for December, growing...

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Premier Doug Ford To Attend North American International Auto Show In Detroit

Posted in Communications, Employment, Events, Finance, Industry Trends, Newsworthy, Tax Law

Premier Doug Ford To Attend North American International Auto Show In Detroit

Ontario’s Government for the People is taking the message to global auto industry leaders that Ontario is open for business. Premier Doug Ford and Todd Smith, Minister of Economic Development, Job Creation and Trade, announced they will attend the North American International Auto Show (NAIAS) in Detroit. While there, they will meet with executives from the world’s leading auto manufacturers as well as labour representatives, and make it clear that Ontario is open for business....

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Webequie First Nation completes multiple housing projects

Posted in Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Webequie First Nation completes multiple housing projects

The federal government announced the completion of recent housing projects in the indigenous community of Webequie First Nation in Ontario. Bob Naulat, MP for Kenora, on behalf of the Jane Philpott, Minister of Indigenous Services, joined Chief Cornelius Wabasse and the community of Webequie First Nation to celebrate the completion of several recent housing projects. These include 14 new modular homes, two new four-plexes, five single-family homes, and renovations to 14 existing homes. The...

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These could be the world’s biggest economies by 2030

Posted in Communications, Employment, Finance, Industry Trends, Newsworthy

These could be the world’s biggest economies by 2030

Seven of the world’s top 10 economies by 2030 will likely be current emerging markets. The prediction for a shake-up of the world’s gross domestic product rankings comes in new long-term forecasts by Standard Chartered Plc, which includes a projection for China to become the largest economy by 2020, using purchasing power parity exchange rates and nominal GDP. India will likely be larger than the U.S. in the same time period while Indonesia will break into the top 5 economies. “Our...

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Calgary housing market ‘remarkably resilient’ despite low oil prices

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Calgary housing market ‘remarkably resilient’ despite low oil prices

Calgary’s housing market has fared fairly well despite record-low oil prices that have plagued the country’s energy sector in recent months, according to real estate firm Royal LePage. “Calgary [has been] remarkably resilient in one way,” Phil Soper, the president and chief executive officer of Royal LePage told BNN Bloomberg in an interview Friday, noting prices are about 10 per cent off their 2014 peak. In its latest home price survey released Friday, Royal LePage said all cities in Alberta...

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