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May 15, 2015

Spring surge lifts Canadian existing home sales in April -CREA

TORONTO, May 15 (Reuters) – Sales of existing homes in
Canada rose in April from March as home buyers were encouraged
by low mortgage rates and a spring surge in listings, the
Canadian Real Estate Association said on Friday.

The industry group for Canadian real estate agents said
sales activity grew 2.3 percent last month from March, the third
consecutive monthly gain. Actual sales for April, not seasonally
adjusted, jumped 10 percent from April 2014.

May 14, 2015

Canada PM warns on household debt as housing boom turns patchy

May 14 (Reuters) – Canadian Prime Minister Stephen Harper
warned on Thursday that some consumers are overexposed to
mortgage debt even if the housing market remains stable, a rare
nod by the government to high consumer debt levels in an uneven
housing market.

Reiterating his stance that Canada’s housing market should
be strong and stable “over the longer term”, Harper said his
Conservative government would not consider a tax on foreign
purchases of real estate.

May 13, 2015

Canadian home prices rise in April, but pace slows

TORONTO, May 13 (Reuters) – Canadian home prices rose in
April from a month earlier, the fourth straight monthly
increase, but the pace of the gains was slower than in March and
the hot markets of Toronto and Vancouver were flat, the
Teranet-National Bank Composite House Price Index showed on

The index, which measures price changes for repeat sales of
single-family homes, showed national home prices rose 0.2
percent last month from March. Prices were up 4.4 percent from a
year earlier and hit a new high nationally. The index does not
provide actual prices.

May 8, 2015

China state-backed developer Greenland Group eyes more Canadian projects

TORONTO, May 8 (Reuters) – China’s state-backed property
developer Greenland Group said on Friday it was looking to
expand further into Canada after breaking ground on a highrise
hotel-condominium in downtown Toronto.

Greenland said last year it plans to speed up its
international expansion, focusing on first tier cities in
developed countries.

May 8, 2015

Canada April housing starts slip from March -CMHC

TORONTO, May 8 (Reuters) – Canadian housing starts declined
in April from March as groundbreaking for new condominiums
slowed and low oil prices took a bite out of building in
Alberta, a report from the country’s housing agency showed on

The Canadian Mortgage and Housing Corp report said the
seasonally adjusted annualized rate of housing starts fell to
181,814 in April from a downwardly revised 189,546 units in
March. Forecasters had expected 182,000 starts.

Apr 30, 2015

Canada housing overvalued, but low risk of overheating – CMHC

TORONTO, April 30 (Reuters) – Canadian house prices are
slightly overvalued but there is low risk of overheating or
overbuilding, the federal housing agency said on Thursday in a
report that is at odds with persistent concerns that real estate
bubbles are growing in several cities.

In its quarterly measure of four risk factors that could
indicate problematic conditions in Canada’s housing markets, the
Canada Mortgage and Housing Corp said the national market is
perhaps 3 to 4 percent overvalued, below the 8 percent
overvaluation threshold it considers problematic.

Apr 23, 2015

Ontario pledges smaller deficits; labor unrest seen

TORONTO, April 23 (Reuters) – Ontario’s Liberal government
trimmed its budget deficit forecasts for the next two years on
Thursday as it unveiled a budget that seeks cost cuts in
education and healthcare, a move toward austerity that could
spark labor unrest across the province.

Ontario, Canada’s most populous province, which accounts for
about 40 percent of the country’s economy, will run a deficit of
C$8.5 billion ($7 billion) in the 2015-2016 fiscal year as it
aims to return to balanced books by 2017-2018, Finance Minister
Charles Sousa’s budget said.

Apr 21, 2015

ECB emergency funds to Greece directly tied to health of its banks: Dombret

TORONTO (Reuters) – The provision of European Central Bank emergency liquidity to Greece is “directly correlated” to the health of its banks and will continue as long as the preconditions are met, a top policymaker from Germany’s Bundesbank said on Tuesday.

Bundesbank board member Andreas Dombret declined to say how the ECB should respond if Greece defaulted.

Apr 17, 2015

Ontario Finance Minister sees pension fund interest in Hydro One

TORONTO, April 17 (Reuters) – Ontario Finance Minister
Charles Sousa said on Friday he expects all of Canada’s major
pension funds to be interested in a stake of Hydro One as the
province prepares to sell off 60 percent of the provincial
electricity transmission utility.

“Right now we know that a lot of the pension companies are
eager … it’s a good mix for their portfolio, they are hungry
for places to invest and this is one of those sectors in the
economy that gives them comfort,” Sousa said in an interview.

Apr 16, 2015

Ontario to sell 60 pct of Hydro One in IPO

TORONTO, April 16 (Reuters) – Ontario Premier Kathleen Wynne
said on Thursday her Liberal government would sell up to 60
percent of the province’s electrical utility Hydro One but would
limit minority shareholders to 10 percent stakes.

Canada’s most populous province would continue to regulate
electricity rates, Wynne told a news conference.