Real Estate News

TORONTO — October's inflation rate fell to 3.1 per cent on a year-to-year basis — down from 3.8 per cent in September — mainly driven by lower gasoline prices, Statistics Canada reported on Tuesday.

TORONTO — George Weston Ltd. reported its third-quarter profit fell compared with a year ago as it was hit by one-time charges driven by its stake in Choice Properties Real Estate Investment Trust.

TORONTO — Primaris Real Estate Investment Trust says it has signed a deal to buy a shopping centre complex in Halifax for $370 million. The deal includes the Halifax Shopping Centre and the Annex, which sits adjacent to the mall.

Although seniors tend to consider downsizing as they get older, a large proportion are instead choosing to age in their home rather than put it on the market, according to a report by Canada Mortgage and Housing Corp. on Wednesday.

TORONTO — Units in Slate Office REIT sank 20 per cent after the trust suspended its monthly cash distributions and announced a plan to sell a large part of its portfolio of properties.

The number of homes sold in Canada last month ticked up on an annual basis but fell 5.6 per cent compared with September as the Canadian Real Estate Association says both buyers and sellers appear to be holding off for the time being.

VANCOUVER — British Columbia real estate sales and prices bumped up slightly in October compared with a year ago in what is being described as a balanced market. Figures from the B.C.

The average asking price for a rental unit in Canada reached $2,178 last month, a 9.9 per cent year-over-year increase and continuing a trend that has seen asking rents hit new highs for six months in a row.

Higher interest rates combined with stricter regulations have some Canadians beginning to second-guess the wisdom of investing in a short-term rental property.

TORONTO — WeWork Inc. is seeking an early exit of several Canadian leases as part of bankruptcy proceedings for the once high-flying office sharing company.