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An update on Canada’s real estate markets

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Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest rate last month did not lead to a rush in demand.

The latest Royal LePage house price survey released Thursday, detailing market trends across Canada during the second quarter, said demand continues to outpace supply in the Prairies and Quebec, but Toronto and Vancouver saw slower-than-usual activity this spring.

Phil Soper, president and CEO of Royal LePage, said prices have remained sticky in Canada’s largest markets.

“This spring, with bank rate cuts highly anticipated, we saw some buyers race to get a deal done ahead of an expected spike in demand,” said Soper in a press release.

“Yet, when that first cut finally occurred in early June, market response was tepid.”

A Royal LePage survey conducted by Leger earlier this year suggested 51 per cent of would-be homebuyers would resume their search if interest rates decreased, but just 10 per cent said a 25-basis-point cut would prompt them to jump back into the market.

Around 18 per cent said they were waiting for a cut of 50 to 100 basis points, and 23 per cent said they need to see a drop of more than 100 basis points.

“Not surprisingly, the quarter-point cut to the bank rate didn’t substantially improve the affordability picture,” said Soper.

“The tale the market tells as rate cuts get to the point of a material reduction in the cost of borrowing should be a very different one.”

The national aggregate home price rose 1.9 per cent year-over-year to $824,300 in the second quarter of 2024, which was also a 1.5 per cent increase from the first quarter, according to the report.

The figure is compiled from the company’s property data nationally and regionally in 64 of Canada’s largest real estate markets.

When broken out by housing type, the national median price of a single-family detached home increased 2.2 per cent year-over-year to $860,600, while the median price of a condominium increased 1.6 per cent to $596,500.

Royal LePage is also forecasting the aggregate price of a home in Canada will increase nine per cent to $860,555 in the fourth quarter of 2024 compared to the same quarter last year.

This report by The Canadian Press was first published July 11, 2024.

 

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Veterans Tyson Beukeboom, Karen Paquin lead Canada’s team at WXV rugby tournament

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Veterans Tyson Beukeboom and Karen Paquin will lead Canada at the WXV 1 women’s rugby tournament starting later this month in the Vancouver area.

WXV 1 includes the top three teams from the Women’s Six Nations (England, France and Ireland) and the top three teams from the Pacific Four Series (Canada, New Zealand, and the United States).

Third-ranked Canada faces No. 4 France, No. 7 Ireland and No. 1 England in the elite division of the three-tiered WXV tournament that runs Sept. 29 to Oct. 12 in Vancouver and Langley, B.C. No. 2 New Zealand and the eighth-ranked U.S. make up the six-team WVX 1 field.

“Our preparation time was short but efficient. This will be a strong team,” Canada coach Kevin Rouet said in a statement. “All the players have worked very hard for the last couple of weeks to prepare for WXV and we are excited for these next three matches and for the chance to play on home soil here in Vancouver against the best rugby teams in the world.

“France, Ireland and England will each challenge us in different ways but it’s another opportunity to test ourselves and another step in our journey to the Rugby World Cup next year.”

Beukeboom serves as captain in the injury absence of Sophie de Goede. The 33-year-old from Uxbridge, Ont., earned her Canadian-record 68th international cap in Canada’s first-ever victory over New Zealand in May at the Pacific Four Series.

Twenty three of the 30 Canadian players selected for WXV 1 were part of that Pacific Four Series squad.

Rouet’s roster includes the uncapped Asia Hogan-Rochester, Caroline Crossley and Rori Wood.

Hogan-Rochester and Crossley were part of the Canadian team that won rugby sevens silver at the Paris Olympics, along with WXV teammates Fancy Bermudez, Olivia Apps, Alysha Corrigan and Taylor Perry. Wood is a veteran of five seasons at UBC.

The 37-year-old Paquin, who has 38 caps for Canada including the 2014 Rugby World Cup, returns to the team for the first time since the 2021 World Cup.

Canada opens the tournament Sept. 29 against France at B.C. Place Stadium in Vancouver before facing Ireland on Oct. 5 at Willoughby Stadium at Langley Events Centre, and England on Oct. 12 at B.C. Place.

The second-tier WXV 2 and third-tier WXV 3 are slated to run Sept. 27 to Oct. 12, in South Africa and Dubai, respectively.

WXV 2 features Australia, Italy, Japan, Scotland, South Africa and Wales while WXV 3 is made up of Fiji, Hong Kong, Madagascar, the Netherlands, Samoa and Spain.

The tournament has 2025 World Cup qualification implications, although Canada, New Zealand and France, like host England, had already qualified by reaching the semifinals of the last tournament.

Ireland, South Africa, the U.S., Japan, Fiji and Brazil have also booked their ticket, with the final six berths going to the highest-finishing WXV teams who have not yet qualified through regional tournaments.

Canada’s Women’s Rugby Team WXV 1 Squad

Forwards

Alexandria Ellis, Ottawa, Stade Français Paris (France); Brittany Kassil, Guelph, Ont., Guelph Goats; Caroline Crossley, Victoria, Castaway Wanderers; Courtney Holtkamp, Rimbey, Alta., Red Deer Titans Rugby; DaLeaka Menin, Vulcan, Alta., Exeter Chiefs (England); Emily Tuttosi, Souris, Man., Exeter Chiefs (England); Fabiola Forteza, Quebec City, Stade Bordelais (France); Gabrielle Senft, Regina, Saracens (England); Gillian Boag, Calgary, Gloucester-Hartpury (England); Julia Omokhuale, Calgary, Leicester Tigers (England); Karen Paquin, Quebec City, Club de rugby de Quebec; Laetitia Royer, Loretteville, Que., ASM Romagnat (France); McKinley Hunt, King City, Ont., Saracens (England); Pamphinette Buisa, Gatineau, Que., Ottawa Irish; Rori Wood, Sooke, B.C., College Rifles RFC; Sara Cline, Edmonton, Leprechaun Tigers; Tyson Beukeboom, Uxbridge, Ont., Ealing Trailfinders (England);

Backs

Alexandra Tessier, Sainte-Clotilde-de-Horton, Que., Exeter Chiefs (England); Alysha Corrigan, Charlottetown, P.E.I., CRFC; Asia Hogan-Rochester, Toronto, Toronto Nomads; Claire Gallagher, Caledon, Ont., Leicester Tigers (England); Fancy Bermudez, Edmonton, Saracens (England); Julia Schell, Uxbridge, Ont., Ealing Trailfinders (England); Justine Pelletier, Rivière-du-Loup, Que, Stade Bordelais (France); Mahalia Robinson, Fulford, Que., Town of Mount Royal RFC; Olivia Apps, Lindsay, Ont., Lindsay RFC; Paige Farries, Red Deer, Alta., Saracens (England); Sara Kaljuvee, Ajax, Ont., Westshore RFC; Shoshanah Seumanutafa, White Rock, B.C., Counties Manukau (New Zealand); Taylor Perry, Oakville, Ont., Exeter Chiefs (England).

Follow @NeilMDavidson on X platform, formerly known as Twitter

This report by The Canadian Press was first published Sept. 18, 2024.



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Vancouver Canucks star goalie Thatcher Demko working through rare muscle injury

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PENTICTON, B.C. – Vancouver Canucks goalie Thatcher Demko says he’s been working his way back from a rare lower-body muscle injury since being sidelined in last season’s playoffs.

The 28-year-old all star says the rehabilitation process has been frustrating, but he has made good progress in recent weeks and is confident he’ll be able to return to playing.

He says he and his medical team have spent the last few months talking to specialists around the world, and have not found a single other hockey player who has dealt with the same injury.

Demko missed several weeks of the last season with a knee ailment and played just one game in Vancouver’s playoff run last spring before going down with the current injury.

He was not on the ice with his teammates as the Canucks started training camp in Penticton, B.C., on Thursday, but skated on his own before the sessions began.

Demko posted a 35-14-2 record with a .918 percentage, a 2.45 goals-against average and five shutouts for Vancouver last season.

This report by The Canadian Press was first published Sept. 19, 2024.

The Canadian Press. All rights reserved.



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Olympic medallist Alysha Newman aims for new heights after career-best season

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Alysha Newman was initially disappointed when her historic season, marked by an Olympic medal and record-breaking performances, came to a close.

The 30-year-old from Delaware, Ont., finished third in the Diamond League final on Saturday, clearing 4.80 metres in the women’s pole vault. That capped a campaign where Newman overcame an ankle injury late in the indoor season to win Olympic bronze.

“The first emotion I had was I was kind of sad,” she said. “With the injury that happened in March, I felt like I was two, maybe four weeks, I guess, behind everyone. So I was still really motivated to compete.

“I know the world rankings came out (Wednesday) and I was second, so my coaches texted me this morning and said, ‘highest finish ever of all time, you deserve a great break.’ And that just made me really excited.”

Newman enjoyed consistency heading into the Paris Games, clearing 4.75 metres or more in three of her last four meets after returning from injury.

Heading into Paris, Newman held the Canadian record of 4.83 metres, achieved indoors on Feb. 22. Her outdoor best was 4.82 metres, set in 2019—the last time she finished a season ranked in the top five, at No. 3.

Before this year, Newman had never medalled on the world or Olympic stage, but she reset her national record to 4.85 metres in Paris to become the first Canadian woman to medal in pole vault at the Games.

Only William Halpenny (bronze at the 1912 Stockholm Games) and Edward Archibald (bronze at the 1908 London Games) had medalled for Canada in pole vault before Newman.

“I was just telling my mom last night … I’m doing so many things, and I haven’t been able to sit. But I did go to Nice three days after I got my medal, and I sat and kind of just enjoyed having that medal and more so what it took to get that,” Newman said.

“Felt like a diploma. It felt like a reward that, you know, here’s hardware for your hard work, and it really was rewarding for me to sit in the moment.”

Newman called it “one of the most unforgettable seasons I’ll ever have in my career.”

“A part of me feels that I needed a season like this to take it even more serious, leading into (the 2028) L.A. (Olympics),” she said. “I think it shows me that this is where my life is supposed to be. I am supposed to be this incredible textbook pole vaulter.”

Newman now has motivation beyond just winning medals; she believes she can break the world record of 5.06 metres set by Russia’s Yelena Isinbayeva in 2009.

Outside of competition, Newman is dedicated to helping the next generation of athletes, from raising funds for a high-performance facility in Caledon, Ont., to advocating for better resources and pay in her sport.

“Leading into L.A., I really want to make noise in the sport on helping amateur athletes get paid,” said Newman, who famously supplements her income with an OnlyFans account. “I think we underestimate what we put our bodies through and a lot of us do this for free, but it’s not free.”

“Starting with building the facility to get more athletes to qualify for the Olympics would be my No. 1 goal. And then after that is really having movement and words that will start, you know, getting people more on board and agree for us to get paid better.”

This report by The Canadian Press was first published Sept. 19, 2024.

The Canadian Press. All rights reserved.



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