Canada’s Housing Market Forecast to Perform Strong and Steady

Canada’s resale housing market finished the second quarter on strong and steady footing; surprising many by its astounding momentum. Healthy and robust conditions are expected to prevail through to year’s end as all regions are poised to experience a rise in average house prices, with double-digit gains forecast for Edmonton, Calgary, Winnipeg and Regina, according to a report released today by Royal LePage Real Estate Services. Echoing the growth and activity experienced in all Canadian markets in the first half of the year, the national average house price is forecast to rise by 9.5 per cent, passing the $300,000 mark for the first time, to $303,300. Home sale transactions are projected to rise by 8 per cent to 522,306 unit sales by the end of 2007.

Toronto housing sales set a July high

The Toronto real estate market continued to sizzle through the mid-summer, setting a record high for the number of sales in July. The Toronto Real Estate Board said yesterday there were 8,912 sales in July, a 26-per-cent increase over the same period last year. Board president Donald Bentley said the housing market is healthy - for both buyers and sellers - and that he expects it to flourish through the summer. "It's just chugging along very, very nicely for everybody," he said. "The sales volume is good and prices are not going nuts."

Canadian Pacific to sell historic Windsor Station in Montreal

MONTREAL (CP) - Canadian Pacific Railway (TSX:CP) plans to sell Windsor Station in Montreal through a request for proposal process it hopes will gauge market value for the historic property. "This process is undertaken as part of CP's ongoing evaluation of opportunities to monetize the value of its real estate assets to maximize returns to the company and reduce ongoing operating costs," the company said in a release. Up for sale are real estate parcels consisting of the Windsor Station office building and courtyard, the Windsor Tower and an interest in the Bell Centre parking garage.

InterRent REIT Announces Closing of 94 Suite Property Acquisition

This is InterRent's second building in Stratford, bringing its total ownership in this western Ontario city to 218 suites, or 11.3% of multi residential suites in Stratford. Located between London and Kitchener, Ontario, Stratford is a city with a population of 31,000, well known for its annual Shakesperean theater festival and its ideal location on the banks of the Avon River, with Lake Victoria in the center of the city. It has become a bedroom community for both larger population centers, as well as a popular retirement location for many of the area's affluent seniors.