REAL ESTATE MARKETS – Halifax homes to stay stable

Average price expected to reach $313,300 this year: Royal LePage THE CHRONICLE HERALD – January 14, 2016 Edition newsroom@herald.ca @chronicleherald The average price of a home in Halifax is expected to grow by a modest 2.5 per cent in 2016, Royal LePage says. Overall, house prices are forecast to be $313,300 this year, according to an updated price survey and market outlook released Wednesday by the real estate brokerage. The average was $305,700 in 2015. Ian Hamilton, a Realtor and owner of Royal LePage Anchor Realty in Halifax, said prices are expected to remain stable due to continuing oversupply. Some…

Housing prices likely to drop nationally

THE CANADIAN PRESS The Chronicle Herald – January 14, 2016 Edition TORONTO – Realtor Royal LePage says it expects the national real estate market to slow this year due to eroding affordability in Toronto and Vancouver and the fallout from declining oil prices in Western Canada. In its latest report, the realtor says the average price of a Canadian home increased 6.5 per cent to $500,688 in the fourth quarter of last year, compared to the same period on 2014. The average cost of a twostorey home nationwide climbed to $610,134 in the quarter, up nearly eight per cent compared…

N.S. may skirt economic woes

Loonie, oil slumps more an issue in places like Alberta, says BMO executive THE CHRONICLE HERALD – January 14, 2016 Edition newsroom@herald.ca @chronicleherald The low loonie and the drop in oil prices aren’t expected to hurt Nova Scotia’s economy in the same way as Alberta or even Newfoundland, says BMO Financial Group ‘s new senior vicepresident of personal and commercial banking in Atlantic Canada. ‟There’s no question that the slowdown in oil prices has created a slowdown in growth and demand,” Victor Pellegrino said in an interview. The province’s economy is ‟fairly diversified” when compared with oil-dependent Alberta and Newfoundland,…

Slate touts Maritime Centre purchase

BUSINESS COLUMNIST ROGER TAYLOR rtaylor@herald.ca @CH_RogerTaylor   The Chronicle Herald – January 13, 2016 Edition Conor McBroom has no trouble justifying Slate Office REIT ‘s decision to acquire the nearly 40-year-old Maritime Centre in downtown Halifax. New construction of office space is costing about $356 per square foot, according to McBroom, and the Slate vicepresident says the real estate investment trust can make money acquiring buildings well below replacement cost. The Maritime Centre is an example of exactly the type of building the Toronto investment trust is looking for. In order to generate the kinds of returns it needs to run…