Tag: real estate news 2019

Edgefront Real Estate Investment Trust (TSE:NXR) Expected to Earn Q4 2023 Earnings of $0.20 Per Share

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Edgefront Real Estate Investment Trust (TSE:NXR – Get Rating) – Research analysts at Desjardins lowered their Q4 2023 earnings estimates for shares of Edgefront Real Estate Investment Trust in a research report issued to clients and investors on Monday, May 15th. Desjardins analyst K. Stanley now expects that the company will earn $0.20 per share for the quarter, down from their previous forecast of $0.21.

Edgefront Real Estate Investment Trust (TSE:NXR – Get Rating) last announced its quarterly earnings results on Tuesday, March 14th. The company reported C$0.21) EPS for the quarter, missing the consensus estimate of C$0.21 by C($0.42). The firm had revenue of C$36.86 million per quarter.

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The firm also recently declared a monthly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.053 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of ∞.

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Nuveen Select Tax-Free Income Portfolio 3 Fund’s primary objective

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Vancouver real estate: Prices drop, elusive affordability

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The price of the average home in Vancouver has fallen by more than $100,000 over the last year, but thanks to soaring interest rates, the amount of money needed to afford such a home has risen, according to Ratehub.ca.

In a new study, the online mortgage brokerage and interest rate comparison website calculated the minimum annual income required to buy an average home in cities across Canada in March, and compared that data to the same calculation for March 2022.

“While home prices are down significantly in the majority of the cities we looked at, the income required to purchase a home still remains inflated due to higher mortgage and stress test rates,” said James Laird, the company’s co-CEO, in a news release Monday.

This dynamic is most extreme in Vancouver, where real estate prices have long been disconnected from local wages.

According to Ratehub.ca, the average home price in Vancouver declined from $1,263,500 in March 2022 to $1,143,900 last month.

That’s a decrease of nearly $120,000, but the study finds that this decrease is more than offset by the increased cost of borrowing caused by the Bank of Canada’s dramatic hike of interest rates throughout 2022.

In March 2022,

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Toronto Rental Market “A Perfect Storm”

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In a narrative that Torontonians know all too well, rents across the city are soaring. According to the latest national rent report from Rentals.ca, average rent in the city rose to a budget-bruising $2,763 in January, up 20.8% from the year prior. The Toronto rental market continues to be the second-priciest in the country.

Rental affordability challenges have also spilled out of the Toronto core. In fact, Rentals.ca found that some of the highest rents in the country are in mid-sized markets in the Greater Toronto Area, with average monthly rent in Vaughan, Oakville, Etobicoke, Mississauga, Brampton, and Burlington climbing past the $2,400 mark in January.

For renters in and around the city, there’s little reprieve in sight.

Homeownership Still “Out of Reach”

“It’s a perfect storm. I mean, you can’t point to just one thing,” says Karen Chapple, Director of the School of Cities at the University of Toronto. “But number one is the interest rate increases, and how that’s pushed homeowners into the rental market. Homeownership is out of reach for even more people right now.”

She adds, “Incomes have really hardly budged as housing prices have skyrocketed, so that’s a huge problem.”

Karen Chapple, Director of the
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Lethbridge commercial real estate market bump expected in 2023: Report – Lethbridge

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The makeup of Lethbridge’s downtown business community is constantly shifting.

“We see businesses go, but we also see a lot of new businesses come in,” said Sarah Amies, executive director of the Downtown Lethbridge Business Revitalization Zone (BRZ.)

“Folks relocate from other areas and come in to the downtown because they enjoy the vibe down here.”

There could soon be some new movement across the city.

An Avison Young report shows the local commercial real estate market is in a “holding pattern,” but that’s expected to change.

With new developments ongoing or close to completion, Avison Young’s managing director of its Lethbridge office, Doug Mereska, is optimistic.

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“A lot of interest, especially from local investors and users, they’re all excited to grow,” Mereska said.

“Sometimes I think we get held back by the global economy of even the Canadian-wide economy, but locally right now we’re pretty excited about what’s happening.”

“For me the big opportunity is in that warehouse and industrial

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This city might have the strongest housing market in Canada

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While other centers are seeing steep declines, prices in this city are still rising

As much of Canada endures a housing correction, the market in Alberta, especially Calgary, is bucking the trend.
As much of Canada endures a housing correction, the market in Alberta, especially Calgary, is bucking the trend. Photo by Gavin Young/Postmedia

Good Morning!

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Canada’s Luxury Real Estate Market Is Still Going Strong & Here’s How Much People Are Paying

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With inflation and rising interest rates, it’s probably no surprise that Canadian house prices are predicted to fall in 2023.

However, it looks like one sector isn’t being affected all too much.

According to the latest report by real estate brand Engel & Volkers, Canada’s luxury real estate market is thriving. Yup, even in this market.

The company’s 2022 Year-End Luxury Real Estate Market report found that while rising interest rates had “triggered market normalization,” many luxury markets are holding their value.

In Halifax, for example, the luxury real estate market actually grew in 2022. In 2021, homes priced over 1 million accounted for 2.6% of all units sold, which grew to 4.6% in 2022.

Moreover, the number of condos sold, which were priced between $1 and $3.99 million also increased, from 13 in 2021 to 20 in 2022.

In Montreal, sales volume dipped by 55% in the second half of 2022. However, despite this, the provinces saw the prices for all property types combined hold in the $1 million to $3.99 million range.

Ottawa’s $1 million-plus market saw year-over-year growth in sales volume.

In Toronto, the sales volume of condos priced between $1 – $3.99 million went up by

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