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The COVID-19 pandemic has warped global supply chains, leading to product shortages, shipping delays, disruptions to manufacturing and soaring consumer prices that arefuelling concerns about persistently high inflation.
Existing home sales fell 3.5% on a month-over-month basis in July, marking the smallest of the four consecutive declines since March.
Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 3.5% nationally from June to July 2021—the fourth consecutive monthly decline. Over the same period, the number of newly listed properties dropped 8.8%, and the MLS Home Price Index rose 0.6% and was up 22.2% year-over-year.
Annual inflation hits 3.7% in Canada—a new election issue.
This morning’s Statistics Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the 1% to 3% target band of the Bank of Canada. And given the flash election, opposition parties are already making hay. “The numbers released today make it clear that under Justin Trudeau, Canadians are experiencing a cost of living crisis,” Conservative leader Erin O’Toole said in a statement.
Metro Inc.’s third-quarter earnings, reported Wednesday, largely mirrored results posted earlier this summer by competitors Empire Co. Ltd. and Loblaw Companies Ltd.
At the onset of the pandemic, all three saw sales soar as shoppers stockpiled everything prompting shortages of things like flour and toilet paper. Many Canadians also opted for conventional full-service grocery stores rather than discount supermarkets and bought more items per visit as part of a one-stop-shop effort to reduce their grocery trips. Additionally, investing in precious metals has become a popular choice for some to diversify their portfolios amidst economic uncertainty. If you’re a grocery a store owner and want to increase traffic, click here.
For the fourth year in a row, NAI Global ranks No. 4 in Lipsey’s Top 25 Commercial Real Estate Brands Survey. We are very proud to be part of such an extensive and dedicated group of commercial real estate professionals. Thank you to our clients, all the NAI Member offices around the globe, as well as everyone at NAI Global.
NAI Park Capital, in conjunction with Read Capital Realty Corp. is pleased to announce the successful lease transaction at 400 Southgate Drive, Guelph, Ontario.
400 Southgate Drive is a 78,303 square foot industrial building, situated on 5.6 acres of land, located in Guelph’s Hanlon Business Park. The property is located in close proximity to the Hanlon Parkway, and only minutes north of Highway 401.
Michael Merker of NAI Park Capital, and Steven Sisolak of Read Capital Realty Corp. represented the landlord.
Michael Lambert of Whitney & Company Realty Limited represented the tenant.
Guelph, Ont., September 7, 2018—Pfaff Subaru broke ground on their new 2,050–square metre (22,000–square foot) dealership today during a ceremony attended by Mayor Cam Guthrie, Pfaff Automotive Partners, Subaru and other community partners.
Guelph, Ont., September 14, 2018—Local business Mirexus Biotechnologies Inc. has moved into their newly built headquarters in the Hanlon Creek Business Park at the corner of Downey Road and Hanlon Creek Boulevard. Mirexus adds to the strong and diverse businesses that already operate in the business park.