Kitchener-Waterloo leads price fall in Canadian real estate: report

Kitchener-Waterloo leads price fall in Canadian real estate: report

An analysis of 21 major Canadian housing markets reveals that only three areas avoided a price decline since the market peaked in June 2023

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An analysis of 21 major housing markets in Canada has found that only three areas have not seen a price decline since the Canadian real estate market reached its peak in June 2023.

At that time, the national benchmark price was $760,600, before a downward trend set in across most major markets in Canada over the next five months.

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Real estate firm Zoocasa released an analysis this week comparing benchmark price data from the Canadian Real Estate Association (CREA) and found that only

Sale of B.C. home without owner’s consent leads to $300K in penalties for real estate professionals

Sale of B.C. home without owner’s consent leads to $300K in penalties for real estate professionals

A fraudulent scheme that saw an unoccupied home in Richmond, B.C., sold without the owner’s consent has led to more than $300,000 in discipline penalties and costs for the real estate agents and brokers involved.

According to a notice from the B.C. Financial Services Authority (BCFSA), the Pacific Evergreen Realty agents and managing brokers involved in the 2019 sale were not complicit in the scam, but “they failed to take reasonable measures at multiple points in the transaction.”

The BCFSA says at least two men were involved in the fraud. One posed as the owner of the house and used a fake driver’s licence to get a notarized power of attorney, while the second posed as the attorney to conduct the sale.

The case has also led to both a civil lawsuit and criminal charges, and court documents suggest the Chinese businesswoman who owned the property is still fighting to

Real Estate Leads European Stock Gains; Oil Rises: Markets Wrap

Real Estate Leads European Stock Gains; Oil Rises: Markets Wrap

(Bloomberg) — European real estate shares headed for their biggest three-day advance since March, while oil climbed as traders weighed supply cuts.

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Global stock market trading was light on Tuesday, with US exchanges closed for the Independence Day holiday. Europe’s Stoxx 600 edged higher on trading volume that was a third lower than the 30-day average. US futures were little changed, while Canada’s benchmark equity gauge rose.

Real estate topped gains among European industry groups as Swedish property manager Castellum AB jumped as DNB Bank ASA recommended buying the stock because of its attractive valuation. Belgium’s Warehouses de Pauw CVA rose after boosting its earnings outlook.

Deal activity also sparked investor interest on Tuesday. Vienna-based OMV AG surged after Bloomberg News reported the firm and Abu Dhabi are in talks to create a chemicals and plastics company worth more than $30 billion.

Meanwhile, Casino Guichard-Perrachon SA

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