Private equity firm numbers at all time high
The private equity real estate industry continued to grow in 2014, hitting an all-time high. “2014 has seen a notable rise in the amount of assets managed by the private real estate industry,” says Andrew Moylan, Preqin’s head of real assets products. “The return of previously tied-up capital to investors may prove positive for private real estate fundraising in future months, as investors look to re-invest the capital in new real estate funds.” Read the full story here.
Vancouver home price skyrocket in Dec 2014
The benchmark price for a detached Greater Vancouver home hit $1 million in December 2014, attesting to the area's seemingly ever-rising real estate market.
The price for detached properties was $1,002,200 last month – an increase of 8.1 per cent from one year ago, according to a Monday news release from the Real Estate Board of Greater Vancouver (REBGV). Detached property sales also rose 9.3 per cent from December 2013. Read the full story here.
Calgary on record pace
The resale housing market outside the city of Calgary was booming in 2014 with record MLS sales and average prices across the board.
According to the Calgary Real Estate Board, new peaks of activity and prices were set in the following areas: country residential (acreages), towns surrounding the city, Airdrie, Chestermere, Cochrane and Okotoks. Read the full story here.