Houses for sale in Ottawa

Meanwhile, its quarterly dividend came in at $0.03 per class A common share, with a dividend payment of $1.5 million in the fourth quarter and $4.4 million during the full fiscal year.

Gary Mauris, DLC’s executive chairman and CEO, emphasized the importance of taking the results in the context of the “headwinds” faced by Canada’s real estate market throughout 2022 amid multiple Bank of Canada interest rate hikes.

“We believe that the rising interest rate environment, coupled with low housing inventory levels, negatively impacted funded volumes in fiscal 2022, resulting in a 10% reduction in funded volumes year over year,” he said.

“To further put fiscal 2022 funded volumes into perspective, 2022 funded volumes were 37% higher than fiscal 2020 funded volumes.”

Mauris said DLC expected the Canadian housing market to return to normal transaction levels during the next 12 to 18 months as consumers begin to adjust to the reality of higher rates.

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