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Stay up to date with the latest Real Estate News in Vancouver BC!  We add new podcasts every week to our Newsroom.  What is going to happen in Real Estate in Vancouver this year?  Will the Vancouver real estate market home prices rise or fall?  What are the best real estate investment goals for 2019?

Vancouver development permits surged before building fees increase implemented

The regional fees for development had been already penciled in at $250,000 for one of Domus Homes’s major projects, a 200-plus-unit tower. Then, as the deadline approached for dramatically increased Metro Vancouver fees, it became obvious the bill would go…

Toronto city councillors want to make housing even less affordable. Ontario’s stopping them

Building more homes just became easier in two of the most densely populated areas in Ontario: Toronto’s downtown core and its “midtown,” a small strip of land centred at Yonge St. and Eglinton Ave. For anyone interested in finding a…

Metro Vancouver’s housing market is ‘primed for a comeback’: report

A new analysis paints the picture of how housing market cycles come and go, and based on 20 years of data Metro Vancouver’s market is “primed for a comeback.” Kevin Skipworth, the Chief Economist and Managing Broker of Dexter Realty,…

Vancouver Has Been Transformed By Chinese Immigrants

When you cross over the Granville Street Bridge that winds into downtown Vancouver, you’d be forgiven for thinking you’re in Hong Kong. The skyline has the same ribbon of gleaming apartment towers hugging the waterfront, and similar mountains in the…

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1 in 5 new pre-sale condos released in the Lower Mainland in May sold: report

There was an uptick in pre-sale condominium project launches in Metro Vancouver and the Fraser Valley throughout May 2019, according to MLA Advisory’s latest pre-sale real estate insights. Analysts recorded 10 project launches creating a combined total of 539 pre-sale…

Metro Vancouver home sales up ‘modestly’ in May: Real Estate Board of Greater Vancouver

There was a modest increase in home sales in Metro Vancouver during the month of May, according to the latest figures from the Real Estate Board of Greater Vancouver. While home sales were up 44 per cent from April, they…

May 2019 REBGV Statistics Package: May sees modest increase in home sales while housing supply reaches five-year high

 Monthly Metro Vancouver1 home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region…

Tips for selling your home in a buyers’ market

Any home will sell if the price is low enough but that’s of little comfort to people trying to sell their homes during a buyers’ market. In this market, sellers need to be realistic about the price they set. Forget…

Is money laundering driving the B.C. real estate bus?

A simple addition and subtraction equation might not add up to the right answer when calculating money laundering’s impact on the B.C. economy, according to some experts. A May report led by Simon Fraser University public policy professor and former…

Bank of Canada done raising rates until end of 2020, with 40% chance of cut, poll says

The Bank of Canada is done raising interest rates until at least the end of next year, with a serious risk of a cut by then as policymakers become more wary of slowing growth and global trade tensions, a Reuters…

Economist forecasts stability to return to Metro Vancouver’s detached housing market

Metro Vancouver detached home prices should stabilize later this year but condo prices will continue to fall, according to the deputy chief economist of Central 1 Credit Union. “We expect to see some stabilization by the end of this year,…

Mortgage Matters: Is balance returning to the housing market?

For the first time in five years, it is no longer a sellers’ market, with Canadians reporting the housing market as balanced between buyers and sellers. The makeup of homebuyers has also seen a distinct change from the more traditional trend of…

Latest Vancouver real estate pitch: Free wine for a year with pre-sale condo purchase

Wesgroup’s offer, which is good for the month of June, follows Woodbridge Homes’ enticement of free avocado toast for buyers who signed up for $400,000 condos in its Kira project in Coquitlam in early May. “It’s clearly a cheeky response…

Richmond council rejects further push for empty-homes tax

Richmond city council is not pushing for an extra empty-homes tax, but they are going to ask the province to return the tax it collects on vacant homes to municipalities. Coun. Kelly Greene brought a motion to council’s committee meeting…

Nearly $90b in equity wiped off Lower Mainland home values in past year (with infographic)

While falling home prices may be good news for those trying to get into the real estate market, they’re certainly not welcomed by the 63.7 per cent of Metro Vancouver adults who own their home. A study released May 21…

Vancouver’s Dirty Money Figures: The Smoking Gun That Wasn’t

When British Columbia released its bombshell findings last week that more than C$7 billion ($5.2 billion) was laundered in a single year through the Canadian province — mostly through real estate — it trumpeted that “thousands” of properties might be…

When it comes to money laundering in real estate, there are more unknowns than knowns

Last week, a panel of three academics established by British Columbia’s Minister of Finance released a report exploring the role that money laundering played the province’s real estate market. The report found that money laundering had likely inflated B.C. housing…

New law pushes WA cities toward denser housing

The “menu” of options approved by legislators includes more backyard cottages, duplexes, triplexes everywhere and apartments near transit. Seattle’s affordable housing shortage gets a lot of airtime, but the city isn’t alone in having one. It’s an issue just about…

From red hot to hazardous: Why B.C. real estate became the focus of a money laundering inquiry

Canada’s rental market saw little change over the past month, according to the May 2019 report from Padmapper. VANCOUVER—Money laundering “distorted” the B.C. real-estate market, hiking prices by as much as 20 per cent in Vancouver, the province’s finance minister…

B.C. government announces probe of money laundering

B.C. Premier John Horgan announced Wednesday his government will launch a public inquiry into money laundering activities across the province. Speaking in Victoria, Horgan cited the province’s sharp rise in real estate prices and opioid deaths as primary reasons for…

Why it’s highly unlikely that Vancouver’s housing market will bottom out

If we could distill an entire year’s worth of real estate news about Vancouver into a single headline, it would probably look something like “Home prices in Vancouver are dropping in a rate not seen in decades.” At this point,…

More choice, lower prices: Why now may be a good time to buy real estate in Vancouver

A new quarterly report on the Metro Vancouver housing market says there’s a high degree of vulnerability in the market, but prices are down, and inventory is up, which means buyers will find some advantage. According to the Canada Mortgage and…

Alberta questioning B.C.’s money-laundering report

The Alberta government is casting doubt on the findings of a new report commissioned for the B.C. government that warns money laundering is widespread across the country. The report released last week from British Columbia’s expert panel on money laundering…

City of Vancouver exploring big redesign of English Bay and Sunset beaches

Growing population, increased public space usage, and aging facilities have prompted the City of Vancouver to launch a master planning process for English Bay Beach and Sunset Beach in downtown Vancouver’s West End neighbourhood. The municipal government is seeking a…

Metro Vancouver home listings up; prices continue to slide: REBGV

Home prices across Metro Vancouver are continuing to slide, reported the Real Estate Board of Greater Vancouver (REBGV) May 2. The board said that the composite benchmark home price across Metro Vancouver dipped to $1,008,400 in April, very close to edging back…

B.C. cracking down on tenancy law-breakers – both renters and landlords

The Province of British Columbia is cracking down on landlords and renters who break tenancy laws by setting up a compliance and enforcement unit within the Residential Tenancy Branch (RTB), housing minister Selina Robinson announced at a media conference in…

East Hastings development could replace former Yolks and Brave Bull building

A stretch of buildings west of Clark Drive along East Hastings could be coming down to make way for a three-building development. Developer Onni Group’s rezoning applicationf or the project, which is being considered under the Downtown Eastside Area Plan,…

Homebuyers prioritize transit-friendly locations over car-friendliness: poll

We all know that “location, location, location” is key when it comes to homebuying priorities – but what makes a really good location? Mustel Group and Sotheby’s International Realty Canada’s Modern Family Home Ownership Trends Report: Neighbourhoods “In Transit” polled young “modern…

Scrapping mortgage rules would boost Canadian home prices by about $32,000, TD says

TD says impact of rules have been longer-lasting and more significant than originally intended and government should consider flexibility The Canadian government should consider being flexible on its new mortgage lending rules because the impact has been longer-lasting and more…

More choice, lower prices: Why now may be a good time to buy real estate in Vancouver

A new quarterly report on the Metro Vancouver housing market says there’s a high degree of vulnerability in the market, but prices are down, and inventory is up, which means buyers will find some advantage. According to the Canada Mortgage and…

Do You Believe in ‘Ghost Apartments’?

A few years ago, an article in Newsweek stated: “Across the globe, empty luxury apartments darken many of the most desirable cities—Miami; San Francisco; Vancouver, British Columbia; Honolulu; Hong Kong; Shanghai; Singapore; Dubai; Paris; Melbourne, Australia; and London. The reason: The world’s…

April 2019 REBGV Statistics Package: Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market

Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019,…

Vancouver council approves 2% tax shift from businesses to homeowners

Vancouver businesses being squeezed by the city’s high real estate prices are getting some relief from City Hall. On Monday, council voted to shift 2 per cent of the tax burden from businesses to homeowners. This comes after City staff…

B.C. Economic Briefing

Housing demand continues to wilt in March Poor housing market conditions in B.C. extended through to the end of the fi rst quarter as home sales declined for a fi fth straight month in March. MLS® residential sales fell 0.6…

Over half of Vancouver’s social housing is only affordable by middle to high earners

The idea of social housing can change definition depending on location. But the general image that this phrase evokes is affordable homes, usually built to help out the less fortunate. The city of Vancouver has made quite some noise recently…

Bank of Canada Rate Update

Bank of Canada Governor Stephen Poloz addressed the media yesterday with an update on the Canadian economy and what to expect with monetary policy as we move further into 2019. The big take away? Don’t hold your breath for an…

How high on the income ladder do you need to be to afford a home in Canada?

No one but those perched atop the income ladder can afford to buy a home in Toronto and Vancouver, a new study confirms. For first-time homebuyers hoping to buy an average house with an average wage, the Prairies are a…

Affordability crisis not driving young people from Vancouver: RBC

What happened: Vancouver added 16,000 young people to its population last year amid a housing affordability crisis, according to new report Why it matters: Migration from other provinces and countries making up for cohorts leaving for cheaper housing in other…

March Sees Uptick in Activity as Spring Market Approaches

March saw increased sales activity across the six projects that launched, the majority of which were within concrete buildings in Central Surrey and Burnaby. To date, approximately 28 per cent of the units released in March have been sold, which…

Bank of Canada holds rate, drops bias for future hikes as economy stalls

Canadian interest rates are almost certainly on hold until at least sometime next year. The Bank of Canada published a revised outlook on April 24 that shows the economy essentially stalled over the last six months, extinguishing the sparks that…

How a $6.5 million dream turned into a nightmare in Vancouver’s real estate meltdown

VANCOUVER—The 5,800-square-foot, five-bedroom, six-bathroom house in West Vancouver’s Sandy Cove neighbourhood features a roomy three-car garage, an elegant white interior-design scheme and a state-of-the-art “chef’s kitchen.” For two years, the minimansion with a mock-Tudor roofline has been sitting at the…

Federal stress test caused up to $15b drop in new mortgages: economist

The federal government’s mortgage stress test has done its job and it’s now time to rethink the rules, according to a leading economist. Benjamin Tal, chief economist at CIBC, published a report citing CIBC research findings that the B-20 stress…

Global Living 2019: Vancouver is the 4th most expensive city in the world

CBRE, the world’s largest commercial real estate and investment firm in the world, recently released its annual Global Living Report. This report examines the housing markets of 35 major cities from around the globe, in order to give a macroeconomic…

Residential price drop failing to ease Vancouver’s housing crisis

Prices will double Ten consecutive months of declines in the Real Estate Board of Greater Vancouver’s benchmark home price have brought the figure down 7.5% since last May to $1,011,200. Sales are also down, with March seeing the lowest tally…

How real estate fits into a financial plan

Real estate is often the biggest investment that people make, whether it be in the form of a family home, cottages, investment properties or investments in the real-estate sector. The BNN Bloomberg Advisor panel discusses several topics including how real…

Real estate industry partners create anti-money laundering recommendations for government

The Real Estate Board of Greater Vancouver and the BC Real Estate Association partnered with the Appraisal Institute of Canada – BC Association, BC Notaries Association, and the Canadian Mortgage Brokers Association – British Columbia to submit joint recommendations to…

Estate sues City of Vancouver over delays in processing empty home tax

The estate of Charles Hyland, who owned a home on East 48th Avenue, has been waiting for nearly a year for the City of Vancouver to process an application for an exemption to the empty home tax. The estate of…

This is what ‘affordable’ looks like across Canada’s housing market

When Canada’s 2019 budget news broke a few weeks ago (catch up if you need to), Canadians were handed a layout to affordable housing — with new incentives to boot. The First-Time Home Buyer Incentive (FTGBI) allows home buyers to reduce the…

‘Interim period of chaos’ stalling development

One of the biggest barriers to development in Greater Vancouver may be newly elected municipal governments in the region. Developers, consultants and former city hall representatives told an audience at the Vancouver Real Estate Forum last Thursday that while stakeholders…

Greater Vancouver building permits break billion-dollar streak

What happened: Greater Vancouver municipalities issued $800 million in building permits this February. Why it matters: That figure, which signals builders’ construction intentions, was down 20.5% over January. After three consecutive months of more than $1 billion in building permits…

Guess which Vancouver homeowners don’t have mortgages

Many of us media types have done some reporting about the mountain of information released April 2, and the fact the city approved 15,406 housing units over the past two years. But there’s so much more to tell. To set this up,…

Vancouver’s expensive land making it difficult to build enough homes for middle income earners

As home prices across the Greater Vancouver Area continue their decline, and the total number of sales are dropping to numbers not seen in decades across all housing types, once again we find ourselves talking about the issue of housing.…

Speculation tax declaration requirements under scrutiny

Requirements that B.C. taxpayers provide social insurance numbers, email addresses and phone numbers while filing speculation and vacancy tax declarations are being examined by the province’s information and privacy commissioner. “We are aware of the concerns and our office is…

Why Housing Policy Is Climate Policy

In California, where home prices are pushing people farther from their jobs, rising traffic is creating more pollution. California has long been seen as a leader on climate change. The state’s history of aggressive action to reduce air pollution, accelerate…

B.C. introduces law to prevent money laundering, tax evasion in real estate

The British Columbia government introduced legislation Tuesday aimed at preventing tax evasion and money laundering by shining a spotlight on anonymous real estate owners hiding behind shell and numbered companies. Finance Minister Carole James said the proposed Landowner Transparency Act…

March 2019 REBGV Statistics Package: Prospective home buyers remain on the sidelines in March

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,727 in March 2019, a 31.4 per cent decrease from the 2,517 sales recorded in March 2018, and a 16.4 per cent increase…

Burnaby tops real estate list with highest average deal value

Increases in B.C. real estate prices have been so large that the value of 2018’s top 100 real estate deals in the province (biv.com/lists) jumped 61.1% to an average of $65.4 million from $40.6 million in 2017. Over the past…

Metro Vancouver homebuyer’s guide

Things are turning around for those looking to buy a home in Metro Vancouver. We are now into a buyer’s market, and real estate agents are gearing up for a busy spring season. You need to be prepared before heading…

Dan Fumano: A $75-billion snapshot of foreign-owned Vancouver real estate

As the picture of foreign property ownership in Vancouver comes into clearer focus, new analysis shows non-residents of Canada own a much bigger proportion of local housing than previous official reports, with at least $75-billion worth of Vancouver-area residential real…

The First-Time Home Buyer Incentive program is little more than a half-measure

Given how home affordability is front and centre in many Canadians’ mind, its only natural that one of the most talked about measures brought about by the latest federal budget has got to be the First-Time Home Buyer incentive. In…

The Pending Rental Demand Tsunami in Canada

Canada’s major cities currently face a rental shortage. Vacancy rates have long been low in many Canadian cities and below 1% in much of the Vancouver market, with Toronto not significantly higher. Meanwhile demand continues to grow as these cities…

Fed, Dimming Its Economic Outlook, Predicts No Rate Increases This Year

WASHINGTON — The Federal Reserve said Wednesday that the United States economy was slowing more than it had previously thought and painted a far less rosy economic picture than the White House as it left interest rates unchanged and signaled…

Fort St. John clears old hotel site for sale and potential development

Real estate investors looking for a foothold in the path of the biggest pipeline project in B.C. may want to check out at a surplus land sale in Fort St. John. Fort St. John city council has formally declared the…

Guest Column: Liberal policy failures have blocked young Canadians from achieving homeownership

Across the country, an entire swath of young Canadians are being consigned to a life of renting — their home ownership aspirations tempered in the wake of a series of policy failures by the Ottawa Liberals. The Liberal government rode…

Buying a home? CMHC could soon kick in 10% of the cost — for a price

The 2019 federal budget includes a tantalizing pitch for prospective first-time home buyers — one that could see Canada’s housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers.…

Residential real estate foreclosures in Metro and Fraser Valley rising

Because residential real estate prices have only dropped further since last summer and real-time information about recent transactions in March 2019 have revealed sharper declines, especially in more expensive areas, there are predictions the uptick in foreclosures could gather pace.…

Bank of Canada to hold interest rates through 2020: TD Securities

The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates strategist for Canada. “Near-term risks skew decisively towards easing. If the…

Vancouver mansions are now an affordable alternative to studio apartments for students

For many of us, the idea of living in a detached home in Vancouver seems like an impossibility. In a city where a newly developed studio apartment could set you back a monthly $1,600, just being able to afford a…

Viaduct gold rush: Big money flows into area around doomed Seattle highway

Even before the Alaskan Way Viaduct finally comes down, the gold rush to cash in on soaring property values in the area is in full swing. On just one block near the waterfront: Prolific developer Martin Selig, known for building the Columbia…

Availability of newly built and presale condos skyrockets in Metro Vancouver: report

For buyers looking for a new-build condo in Metro Vancouver, there’s good news – the number of available units has skyrocketed, according to a report released March 7. In its quarterly State of the Market report for the Urban Development Institute, real…

What it costs to build real estate in Canada

Canada’s construction sector generated $87 billion in residential projects in 2018 and $53 billion in commercial and industrial real estate in nearly 1,500 projects. Infrastructure to support new development and population growth tallied another $70 billion in 280 major projects.…

Canadian cities have among highest homeownership rates in world: RBC

Major Canadian cities may be struggling with affordability issues, but the rate of homeownership is among the highest in the world, according to a recent report by RBC. The bank compared Vancouver, Toronto and Calgary to other global cities and found…

Mortgage delinquency rates in Vancouver are starting to trend upwards

In the most recent Mortgage and Consumer Credit Trends Q3 2018, Canada Mortgage and Housing Corporation’s (CMHC) reports that the total number of delinquent mortgages in Vancouver have remained basically unchanged over the past 4 quarters. As it stands right…

Metro Vancouver home sales down year-over-year in February but up from January: REBGV

A total of 1,484 home sales took place across the Metro Vancouver region in February, which is down 32.8% year-over-year and is 42.5% below the 10-year average for the month (see graph below), according to Real Estate Board of Greater…

February 2019 REBGV Statistics Package: Housing market conditions continue to favour home buyers

   The Metro Vancouver* housing market saw increased supply from home sellers and below average demand from home buyers in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,484…

The New ‘Dream Home’ Should Be a Condo

Every year, the National Association of Home Builders presents its vision for the New American Home, showcasing trends in home design and construction. The association describes this effort as “America’s residential construction laboratory” and boasts that concepts first used in the New…

Douglas Todd: Is B.C. immigration program a back door for millionaire house buyers?

How did it come to pass that thousands of people who came to Metro Vancouver through a provincial immigration scheme bought pricey houses? A Statistics Canada report shows 2,370 people who recently arrived in B.C. through a provincial immigration program…

Opinion: City Council almost let Jean Swanson blow up the Rental 100 program… by mistake

City of Vancouver staffers presented a robust presentation to City Council today, outlining a number of ways they think they could work to protect renters in Vancouver The document presents a whole lot o’ facts and ideas around how they…

Cooling real estate market to hamper B.C. economy next two years, says think tank

As real estate goes, so goes the B.C. economy. The Conference Board of Canada is forecasting at least two more years of slowing growth ahead for the province amid a cooling real estate market. The Ottawa-based think tank’s latest provincial…

B.C. launches online condo pre-sale register

The B.C. government today launched Canada’s first online pre-sale register in an effort to thwart tax evasion and real estate speculation. Starting this year, developers are required to collect information on pre-sale condo assignments and submit that information quarterly to…

British Columbia’s 2019’s budget brings good news to young families, and hopeful home buyers

The government of British Columbia released 2019 budget on Tuesday, and Vancouverites will get a much welcomed round of good news. Those who were wary of new taxes will be relieved to know that this year’s budget does not introduce…

Canada’s housing market set for years of subdued price rises: Reuters poll

Canada’s once-roaring housing market has been tamed, according to the latest Reuters poll of analysts who predict house prices will rise nationally and in key urban hot spots they will not outstrip overall inflation over the next two years. While…

Dan Fumano: The ‘ticking time bomb’ threatening affordable rental homes

The intricacies of B.C.’s property assessments are meeting the realities of Metro Vancouver’s property market in a way that discourages the operation of long-term affordable rental housing in favour of the development of new condos, landlords say. In other words, the…

B.C. real estate audits reveal widespread tax evasion

After reporting a record number of B.C. real estate audit assessments in 2018 – amounting to roughly $170 million – the Canada Revenue Agency is expected to receive a treasure trove of data from the B.C. government tying home ownership…

Metro Vancouver’s high-end house prices to fall a further 7.1%: Royal LePage

Metro Vancouver’s luxury detached homes will see a further median price decline of 7.1 per cent over the next year, according to a forecast issued February 21 by Royal LePage. The national real estate brokerage’s 2019 Royal LePage Luxury Properties Report,…

How long does a building permit take in Vancouver?

One of the biggest complaints Vancouver builders have had for years is the difficulty of obtaining housing permits. And for good reason too. Vancouver has the dubious distinction of having the slowest building permit issuing system of all major Canadian…

City of Vancouver considers increase in empty homes tax

Vancouver property owners with vacant homes may have to pay more taxes. City hall is looking at the likelihood of increasing the empty homes tax. The tax is currently one percent of the property’s assessed value. According to a city…

Looking for a luxury home? It’s ‘a great time to buy,’ real estate company says

If you’re looking to upgrade to a luxury house or condo in Metro Vancouver, a Canadian real estate company says it might be a good time to make the move. A newly released report by Royal LePage forecasts a 7.1-per-cent…

Province not stabilizing housing market the right way: BCREA

B.C.’s housing market is moderating and moving in the right direction, according to finance minister Carole James. “It’s what we are looking for. We are continuing to monitor it.” The correction in the market is not over, she said Tuesday.…

Why America’s New Apartment Buildings All Look the Same

These buildings are in almost every U.S. city. They range from three to seven stories tall and can stretch for blocks. They’re usually full of rental apartments, but they can also house college dorms, condominiums, hotels, or assisted-living facilities. Close…

The Rental Market in Fort St John with Property Manager Robert Herman

Property Manager, Robert Herman, sits down with Adam Scalena to discuss the rental market overall in Fort St John, the decreasing vacancy rate, the benefits of owning newer construction, how the ‘turn-key’ corporate rental program works, and why he is…

St. Paul’s Hospital $1.9-billion replacement gets go-ahead

The $1.9-billion replacement project for Vancouver’s 124-year-old St. Paul’s Hospital should be open within seven years, Premier John Horgan said Feb. 15. ”By 2026, there will be a new St. Paul’s Hospital on Station Street,” Horgan said. “It will be…

Every member of Vancouver family now owns a home: a unique path to affordability

Inside a beautiful craftsman house in Vancouver’s Mount Pleasant neighborhood is a heartwarming story of family, support and housing affordability. “It starts with how do kids get to live in Vancouver with a piece of grass outside,” explained Vancouver real…

Vancouver Real Estate Forecast with Developer Richard Wittstock

 On where he sees the market right now: Looking forward to 2019, Richard is bullish on the market. Domus will be looking to aggressively make acquisitions. Domus is looking to refill their pipeline. The local economy is still strong,…

Urban Design Panel sets special review for curvy 54-storey Vancouver tower

Local and international architects have been invited to take part in a special review for a proposed Vancouver high-rise. The Urban Design Panel has set a meeting on Tuesday (February 20) to evaluate the design of a 54-storey tower at…

Province expecting $400m hole in property transfer tax revenues

The real estate market slowdown may feel like good news for many who are struggling to afford a home in our pricey province – but it’s certainly not good news for provincial coffers. The B.C. government has reported that it…

City of Vancouver speeds up development process, but it could do more

One of the most common complaints from developers, homeowners and local business owners in Vancouver is the amount of time it takes to get a project approved at city hall. Last April, I wrote a column about the impacts of…

What does it mean to be in Vancouver’s buyer’s market?

If you’ve been keeping an eye on the news lately, or simply been skimming through headlines on real estate news sites, you’re probably running into articles about how Vancouver is now solidly in a “buyer’s market.” Seeing as how Vancouver’s…

Concord sweetens mix in Surrey office options

As Metro Vancouver’s office vacancy rate plunges to near record-lows, a condo developer is adding thousands of square feet of gig-friendly work space to a four-tower complex in Central Surrey. Concord Pacific is currently pre-selling Park George 2, a 337-unit,…

Eitel Insights’ Long-Term Forecast for the Condo Market in Vancouver

 Eitel Insights’ long-term forecast for the Condo market in Vancouver: Eitel Insights has recently released their analysis on the Condo Market in Greater Vancouver. At this time, the condo market has peaked and there will be no more price…

Vancouver boasts 15 per cent drop in vacancies under Empty Homes Tax

The number of Vancouver homes declared vacant has dropped 15 per cent since the implementation of the Empty Homes Tax, according to numbers released by the city Wednesday. There were 922 properties declared vacant by the Feb. 4 deadline, compared…

Is a lack of foreign buyers to blame for plummeting home prices?

January real estate numbers show further softening of the Metro Vancouver real estate market, and nowhere is that effect more dramatic than on Vancouver’s West Side. One realtor says a lack of foreign buyers is why homeowners who bought in…

REFILE-UPDATE 3-Canadian regulators may review terms of mortgage stress test

TORONTO, Feb 5 (Reuters) – Canada will consider changing the terms of a stress test designed to cut out risky mortgage lending if market conditions change, one of the country’s top banking regulators said on Tuesday. The Office of the…

Suddenly, There Are TONNES Of Homes For Sale In Vancouver, And Prices Are Coming Down

There’s no shortage of homes available for sale these days in Vancouver, and those hoping for better bargains in one of the world’s least affordable housing markets may get their wish soon. The latest data from the Real Estate Board…

Georgetown One in the heart of Surrey City Centre from $249K – VIP Access, Pricing and Floor Plans

Georgetown One by Anthem is a new concrete condominium project that is steps from the King George and the Surrey Central SkyTrain stations as well as the SFU Surrey Campus and a host of restaurants & cafes. It is set to be…

THERE IS NO BRAIN DRAIN, BUT THERE MIGHT BE ZOMBIES

Zombie attack! Zombies fleeing Vancouver want to eat your brain… drain… or something. A couple of weeks ago The Canadian Press reported a story asserting that young professionals were leaving Vancouver because of the high cost of housing. This fits in with a common zombie…

January 2018 REBGV Statistics Package: Home listings increase while buyers remain in holding pattern

 Home listings continue to increase across all housing categories in the Metro Vancouver housing market while home buyer activity remains below historical averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region…

Andrey Pavlov: Vacancy tax a good idea that’s been badly implemented

Consider somebody who owns property in Vancouver but does not use it, does not rent it and does not pay any income taxes in Canada. This person is clearly benefiting from our society because over time their property is gaining…

New immigrants spending 54% more on Metro Vancouver houses than locals

The federal statistics agency’s analysis of homeownership in the Vancouver and Toronto Census Metropolitan Areas found that immigrants to Canada between 2009 and 2016 own about five per cent of the region’s detached homes, valued at an average of $2,336,300…

Metro Vancouver housing affordability still deteriorating: National Bank

Even though Metro Vancouver’s real estate market has seen a significant slowdown recently, the affordability of both houses and condos has eroded, according to a study by National Bank of Canada. The nationwide study found that a mortgage payment for a…

Regulatory overkill cited as housing outlook goes negative

Economic growth in Canada from residential real estate investments will go negative in 2019, according to the Bank of Canada (BOC), which has conceded that stiff new mortgage regulations, local housing restrictions and rising interest rates have had a larger…

Fed Signals End of Interest Rate Increases

WASHINGTON — The Federal Reserve signaled Wednesday that it may be done raising interest rates. In a statement following a two-day meeting of its policymaking committee, the Fed said that economic growth remained “solid,” and that it expected growth to continue. But…

Vancouver office vacancy drops to lowest level since 2008 The city’s office market has long made headlines for scant office availability

Vancouver’s office vacancy rate has dipped below 5 per cent for the first time since 2008. Metro Vancouver vacancy has dropped to 4.5 per cent in the fourth quarter of 2018, and as low as 3.4 per cent in the…

Hotel and condos could be part of plan to revitalize New Westminster’s Columbia Theatre

The owners of the Columbia Theatre are prepared to invest several hundred thousand dollars into a feasibility study to assess the possibility of building a hotel and residential tower above the heritage theatre. Tricor Pacific Land and Redic Developments have…

The current mortgage stress test needs to be amended

According to Loans Canada, the current mortgage stress test is “a way of testing how you and your finances might be affected by a sudden bout of financial turmoil, such as loss of employment.” It also carries the added benefit…

Granville Bridge re-design would halve number of car lanes for central greenway

City staff are recommending the city start public consultations on the downtown bridge’s re-design Plans for a new greener, more pedestrian- and cyclist-friendly Granville Bridge are closer to fruition as a report on its purported redesign will be presented to Vancouver…

Letters, Jan. 24: NDP’s speculation tax won’t make homes more affordable, reader says

The NDP’s speculation and vacancy tax will do nothing to make homes more affordable. If you think about who can afford to leave homes empty, it is wealthy people, whether they be foreigners or Canadians. The multi-million-dollar homes are not…

Did BC Assessment Values for Vancouver Property go up in 2019?

How did your property value fair with the new BC Assessment values released earlier this month? How did your neighbour fair? What about that building on the corner of Thurlow and Comox or that 3rd house in off of Dunbar…

27 Townhouses Proposed for Marpole Site in South Vancouver

A recent proposal to the City of Vancouver aims to add colourful, modern townhouses to a site at the northwest corner of Columbia Street and 63rd Avenue in Marpole (a site that was formerly three single-family homes. The redevelopment application…

Canada is going to take in more than 1 million new immigrants in the next 3 years

Want to live and work in Canada? That dream could become a reality now that the government has announced plans to accept more than a million immigrants in the next three years. In his 2018 Annual Report to Parliament on Immigration, the…

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The sub-million dollar detached home is back in Vancouver

How many more sub-million dollar single family detached homes appear on the market over the next year is truly anyone’s guess It’s back. After several years of continually rising prices for single-family detached homes in Vancouver, the sub-million dollar house…

Vancouver now ranked ‘second-least affordable’ global housing market

The widely reported annual Demographia Housing Affordability Survey has been released January 21 – and despite Vancouver’s real estate market slowdown, the city has moved back up in the rankings of the world’s least-affordable housing markets. Having been ranked in…

In Canada’s housing slowdown, Vancouver proves to be the weakest link

Vancouver’s housing market is looking more fragile than Toronto a year after policy makers tightened mortgage lending to slow a boom. While the country’s two most expensive real estate markets have both been hit hard by higher interest rates and…

Burst housing bubble in 2019? Don’t bet on it, B.C. developers predict

They had no crystal balls or tarot cards, but B.C. developers still predicted Thursday that people hoping for “the housing bubble to burst” in 2019 will be disappointed. During the Urban Development Institute’s 2019 real-estate forecast luncheon, attended by about…

U-Eight at UBC Okanagan| Starting in the Low $200’s| VIP Access

U-Eight by Mission Group is an exciting new development in the growing university district of Kelowna. Situated immediately south of Kelowna’s UBC Okanagan campus, this impressive condo building, located on freehold land and within walking distance to the campus, will…

Vancouver tourist visits to rise 3.3% in 2019: Conference Board of Canada

The Conference Board of Canada’s latest Travel Markets Outlook, released January 17, paints a rosy outlook for the Canadian and Vancouver tourism sectors. It projects that Canada will welcome 2% more overnight visitors from within Canada and international markets in…

All property owners in Speculation and Vacancy Tax regions must complete declaration

The Speculation and Vacancy Tax has come into force for the 2018 tax year, and homeowners can expect to get declaration letters from tomorrow (January 18) until the end of February. All homeowners – not just owners of second or…

Mortgage stress test to blame for last year’s 25% drop in home sales, says BCREA

The B.C. Real Estate Association (BCREA) says the mortgage stress test introduced by Ottawa one year ago is “largely to blame” for a 24.5% decline in home sales across the province last year. Data released January 15 reveals the Multiple…

B.C. government opens exemption process for speculation tax

It will be up to homeowners to apply for exemptions, with a deadline of March 31. VICTORIA — All homeowners in B.C.’s largest urban centres will need to apply for exemptions from the province’s new speculation tax or receive a…

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Can Metro Vancouver accommodate another one million people by 2050?

Here’s a sentence you probably didn’t think you’d read in this space: Fertility rates in Metro Vancouver have shifted by large margins over the past 20 years. Here’s another one: Overall, fertility rates for younger women aged 15 to 30…

Opinion: When is the best time to buy in a down market?

Many first-time buyers are taking a wait-and-see approach, in case home prices drop further – is that the best strategy? Recently I was asked to guest live on CityTV’s BT Vancouver morning news show to recap a range of industry…

Will the Bank of Canada raise interest rates in 2019?

Home buyers and those with mortgages coming up for renewal gave a sigh of relief this past week after the Bank of Canada decided to leave its overnight interest rates untouched at 1.75%. Since mid-2017, the BoC has raised its…

Vancouver home prices drop during Q4 amid ‘significant reduction’ in sales

Homes prices in the City of Vancouver aren’t quite coming back to Earth, but their stratospheric heights lost some altitude in the fourth quarter of 2018. The aggregate home price in Vancouver decreased 0.6% year over year to $1,418,252, according…

Rising multi-family assessments could trigger higher rents across B.C.

A surge in the assessed values of rental buildings, coupled with new rules around rental rates, could translate into reduced investment in existing buildings and fewer new developments, says the head of LandlordBC. David Hutniak, chief executive of the organization…

December 2018 Market Insight

REBGV President Phil Moore provides a summary of the December 2018 housing market statistics.    For more information please visit: December 2018 REBGV Statistics Package: Metro Vancouver home sales decline below historical averages in 2018

Buyer/seller standoff behind Vancouver real estate sales dip: expert

VANCOUVER (NEWS 1130) – Vancouver’s residential real estate market is at standoff that doesn’t appear to have an end in sight. The city saw a 26 per cent drop in sales of all types (condos, attached and single family homes)…

Policy decisions, interest rates slowed the real estate market, and they’re needed for a rebound

Haider-Moranis Bulletin: A slowdown is the intended response to regulatory changes and must not be seen solely as a sign of market weakness As real estate market stats pour in from across Canada, it is becoming abundantly clear that property…

Property assessments are inaccurate more often than you might think, says author

As many as 20 per cent of all residential property owners in the province should be appealing their property assessments, says the man who has literally written the book on the assessment appeals process. Peter Morris, a commercial real estate…

Bank of Canada slashes outlook as oil, trade and housing concerns weigh

The Bank of Canada is keeping its key interest rate unchanged in the face of a new, grimmer forecast that shows Canada’s economy is slowing down fast. As it did in December, the central bank left its rate at 1.75…

B.C. stats show foreign capital accounted for 2.92 percent of Metro Vancouver residential sales over 11 months

Last August, respondents to an Insights West poll in August identified four “primary causes” affecting the real-estate market. They were, in order of responses, foreign homebuyers (84 percent), population growth (80 percent), shadow flipping (76 percent), and money laundering (73…

Monthly rent in Vancouver predicted to rise 7% in 2019: report

Vancouver is already widely-known as an expensive place for renters, and now, a newly-released report is predicting that the cost of putting a roof over one’s head in this city is only going to rise. The figures come courtesy of Rental.ca’s 2019…

City plans to introduce a second penalty option for short-term rental violations

The City of Richmond is considering introducing a second penalty option, which carries a smaller fine but speeds up the process of adjudicating disputes, for illegal short-term rentals. Currently, the city issues a $1,000 fine per offence to illegal short-term…

Opinion: Land Value Capture idea gaining traction as housing affordability crisis continues

Metro Vancouver’s real estate market may no longer be “red hot,” but a price drop from $1,605,800 to $1,479,000 for a typical single-family home doesn’t offer much hope to those being squeezed by the unrelenting housing affordability crisis.In 2018, all…

Past Guest Dustan Woodhouse on Marijuana and Real Estate Financing

 The legalization of cannabis opens up new risks for homeowners and new opportunities for REALTORS® to add value as trusted advisors as consumers make the biggest financial decision of their lives. That’s why BCREA is launching a series of…

How does the economic cycle affect you?

Statistics Canada released its third-quarter report on national wealth at the end of last year, and it showed that Canada’s total GDP is currently at over $2 trillion, and the national wealth is valued at around $11.415 trillion. Of that…

This is how Canada’s housing correction begins

Canadians are finally getting a taste of what a world with rising interest rates will look like, and one thing is painfully clear: we’re not ready for what happens next. Kirk Marsh first noticed the mood start to turn in…

Fewer first-time homebuyers in B.C. this year: notaries

Notaries across British Columbia saw “an overall decrease in first-time buyers in most regions of the province” in 2018, according to the Society of Notaries Public of BC. What the province’s notaries collectively saw in 2018 was “an overall decrease…

Prices fall as Vancouver has worst year for home sales since 2000

Metro Vancouver’s sluggish residential real estate market continues to endure slow sales, with 2018 notching a mere 24,619 homes that transacted. There has not been that few homes that sold in the region during a calendar year since 2000, according…

December 2018 REBGV Statistics Package:Metro Vancouver home sales decline below historical averages in 2018

 Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000. The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 24,619 on the Multiple Listing…

Rising construction costs, slowing market set stage for 2019

By the time you read this, most property owners will know what the BC Assessment Authority thinks their property is worth – or was worth, as of the valuation date of July 1, 2018. However, interest rate hikes, government policies…

Top five hottest real estate news stories of 2018

In a tumultuous year for B.C.’s real estate market, what were Glacier Media’s most-read real estate stories? 2018 has been a tumultuous year for B.C.’s real estate and rental markets, with a slew of new policies introduced at the federal,…

This interactive heat map shows where Lower Mainland real estate is priciest

Sure, a single-family home anywhere in Metro Vancouver is pricey, but have you ever wondered just how your neighbourhood – or city – stacks up compared to others across the region? If so, then a new heat map from estateblock.com might be just what…

Why Is Increased Density So Hard In Vancouver? with Gordon Price

 For full interview, see Vancouver Real Estate Podcast – Episode 149 | Vancouver Price Tags with Gordon Price About Gordon: Gordon is a fellow with Simon Fraser University’s Centre for Dialogue, and a former Vancouver city councillor (1986-2002). He…

Superstar cities have a big advantage in attracting high-paying jobs

In the end, Amazon disappointed everyone. A year ago the e-commerce giant said it would open a second headquarters, and solicited bids from cities keen on the 50,000 new jobs and $5bn in investment it would bring. The gambit might…

Canadian house price slump makes buyers wary for 2019: Don Pittis

According to a lot of analysis when the Canadian housing boom was at a peak, people were so anxious to get into the market that any fall in prices couldn’t last long. I remember Carol Off at CBC Radio’s As It Happens  grilling…

76% of Canada’s national wealth is wrapped up in real estate, and the market is slowing: data

Canada’s a rich country with a gross domestic product of over $2 trillion and national wealth valued at over $11 trillion. But just how much of those riches are wrapped up in real estate? A sizable share, it turns out. Statistics Canada released…

Falling B.C. real estate market projected to bring national home sales down to nearly 10-year low

Falling home sales in B.C. are set to drag national sales down to lows not seen in nearly a decade, according to projections released by the Canadian Real Estate Association (CREA) on Monday. The association’s latest quarterly forecast projects B.C.’s…

Vancouver city council asks province to rescind real estate tax

Vancouver Mayor Kennedy Stewart has sent a letter to Premier John Horgan asking the province to rescind a new tax on real estate even though Stewart supports the tax. The tax, called a school tax surcharge, was announced as part of the B.C. 2018 budget and…

One Good Podcast Deserves Each Other

We at Price Tags are having a great time with our new podcast, PriceTalks.  So we appreciate the opportunity to be invited to other podcasts that are exploring our city and its issues – like that time on Cambie Reports with Sandy James, Gord Price and…

Vancouver home prices climb 2.3% as B.C. prices make their descent

Greater Vancouver average home prices grew 2.3% annually in November, even as prices declined 1.9% for B.C. as a whole. Data released December 14 from the B.C. Real Estate Association (BCREA) reveals average home prices in Greater Vancouver climbed from…

High home prices in Vancouver are Justified

According to data from the Real Estate Board of Greater Vancouver, the benchmark price for a detached home in Greater Vancouver dropped sharply in November by 6.5% on a year-over-year basis. To put it into direct numerical terms, the benchmark…

Condo market still ‘a lot better’ than normal in Vancouver suburbs

A tempting bright-red advertisement for a new condo development in a Vancouver suburb circulated online this fall, sparking excitement from first-time homebuyers and concern among long-standing real estate observers. The developers of The Landing, a 78-unit complex in Langley, were…

Metro Vancouver detached home values likely to drop in next property assessment

The real estate market in most parts of Metro Vancouver has softened over the last year and homeowners will see those changes reflected in their property assessments next spring. Outside Metro Vancouver, it’s a different picture. Home owners in the…

No major home price drops for Metro Vancouver and B.C. next year: forecasts

The Metro Vancouver housing market may look to many like it is heading for a major correction, but two separate brokerage forecasts, both published December 11, assert that this is not the case. The Royal LePage Market Survey Forecast predicted…

Canada’s high home prices likely to just stay high: economist

Canada’s housing market is “relatively insulated” from a US-style crash and Canadians might simply need to get used to high home prices, according to the chief economist at Chartered Professional Accountants (CPA). In his report The real story behind housing…

Will Vancouver Real Estate have a Rougher Recovery than Toronto?

As the Vancouver real estate market softens, some are already making predictions on how quickly it will recover. A recent article published on Capital Economics by Stephen Brown argued that Vancouver’s housing market will recover much more slowly than Toronto’s…

Squamish’s Oceanfront Park plans revealed

Newport Beach Developments unveiled plans for its Oceanfront Park, making significant headway for what’s hoped to be the revitalization of the former Nexen Beach lands. Initial stages in getting the project running have taken years and included extensive public consultation. Newport’s…

November 2018 REBGV Statistics Package: Metro Vancouver homes sales down across all property types

Home buyer demand remains below long-term historical averages in the Metro Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,608 in the region in November 2018, a 42.5 per cent decrease…

So why are developers so keen to build unaffordable condos along the Broadway Corridor? I hope this helps explain why.

Today Patrick Condon (a friend and colleague whose passion I admire) wrote a column in the Tyee. A media outlet I admire. He writes about a book by John Gray, a local writer I also admire. In his column, Patrick…

Rental unit vacancy rates still abysmally low in Metro Vancouver, with no sign of change on the horizon

With the release of the latest Canada Mortgage and Housing Corporation’s rental market report, residents of Metro Vancouver, and those looking to move into the city, will find some disappointing yet unsurprising news: there are simply next to no available…

Rents rising despite more supply in Metro Vancouver and rest of B.C.

Renters are paying more and more, a new survey shows, even though the supply of rental housing is increasing in Metro Vancouver and across B.C. According to the annual rental market report by the Canada Mortgage and Housing Corporation (CMHC),…

Vacancy controls ultimately harm renters

Vacancy control would tie rent controls to a unit rather than the tenant. Currently, rental owners have the flexibility to adjust rents between tenants to account for building and unit upgrades and other increased costs like property taxes, insurance and…

Metro Vancouver rental vacancy rates improve slightly

Rental vacancy rates in Metro Vancouver and across the province have improved slightly over the past year, according to the Canada Mortgage and Housing Corporation (CMHC). The Crown corporation’s annual rental market survey, released November 28, reveals Metro Vancouver’s vacancy…

Vancouver Real Estate Investment Advice with HGTV’s Bryan Baeumler

 Bryan’s real estate investment advice: Bryan invests in residential and commercial real estate in Canada. His strategy is to buy and hold real estate. He is concerned that going forward, as real estate becomes more expensive, less and less people…

Condo flippers, foreign investors, and other convenient fall guys for Vancouver’s housing crisis

As busy people living in an increasingly complex world, we are drawn to simple explanations that answer complicated questions. We like to see things in black and white, with neat cause and effect correlations. We also love villains. Villains satisfy…

B.C.’s housing-market taxes will have to prove themselves soon with voters

In this year of municipal elections in British Columbia, housing was consistently the top-ranked issue for residents of Metro Vancouver – with the exception of Surrey, where public safety was deemed more important. Many campaign platforms, from winning and losing…

Landlords the winners as Metro Vancouver housing sales slump

Residential Investor Outlook 2019: Scout opportunities outside of the Lower Mainland for best returns on home buying and rental plays Metro Vancouver  Despite a 35 per cent plunge in Lower Mainland housing sales this year, home prices remain the highest…

Secret police study finds crime networks could have laundered over $1B through Vancouver homes in 2016

The stately $17-million mansion owned by a suspected fentanyl importer is at the end of a gated driveway on one of the priciest streets in Shaughnessy, Vancouver’s most exclusive neighbourhood. A block away is a $22-million gabled manor that police have linked…

Will Last Month’s Inflation Rise Lead to Higher Canadian Mortgage Rates?

The Bank of Canada (BoC) is caught between a rock (rising inflationary pressures) and a hard place (waning economic momentum). On the one hand, the Bank may believe that it needs to raise its policy rate pre-emptively to stay in…

It’s always a good time to invest in real estate

It’s easy to see why so many economists, pundits, and investors are feeling so bearish about Vancouver’s real estate. If you type into Google the words “Vancouver real estate” you will immediately see a number of articles talking about how…

In unaffordable Vancouver, we need to start thinking small

Small is beautiful. This was the theme of a recent conference organized by Small Housing BC (SHBC), a non-profit organization created to promote smaller homes throughout the province. SHBC defines “small housing” as just enough space to live in. Depending…

Vacancy control could be ‘death knell’ for 12,000 new rental units: survey

More than 12,000 new rental units under development would be at risk of cancellation if the oft-mooted “vacancy control” mechanism were to be implemented, according to a new Urban Development Institute (UDI) survey released November 21. Vacancy control is a…

Vancouver’s hot housing market shows signs of cooling

Metro Vancouver’s turbocharged residential real estate market is showing signs of slowing, with sales plunging, prices edging down and a large swath of properties hitting the market. It is enough to temper the enthusiasm of some longtime boosters of the…

Premier Horgan pleased with provincial housing headway

B.C. Premier John Horgan received a warm reception and standing ovation from delegates attending Canada’s largest affordable housing conference, which got underway in Vancouver today. “I’m very pleased with what we’ve been able to accomplish in the first 16 months,”…

Vancouver Housing Market Predictions with Moody’s Economist Brendan LaCerda

 Brendan Lacerda’s predictions for the Vancouver Real Estate Market: Regarding the previous run-up in prices, there was a perfect storm or confluence of events with strong global growth, the fall of the Canadian dollar, and extremely low interest rates…

High-end B.C. house prices dropping, but no relief at lower levels

The British Columbia government says it’s already seeing positive results from the policies it put in place to address the housing crisis, but one expert says there’s still a long way to go. Housing Minister Selina Robinson says the government…

Real estate forecast anticipates 2019 sales to edge up after 2018’s fall

The British Columbia Real Estate Association estimates that economic growth will remain strong enough to support a boost in sales next year after a substantial decline in 2018, according to its latest forecast. When the dust settles at the end…

Why affordable housing is scarce in progressive cities

A challenge so-called progressive cities aren’t meeting Shaw says the housing crisis has taken on a different tone over the last few years because its impact is so widespread. What’s changed in many cities is how the middle class is…

Detached real estate sales in Vancouver fell over 34% in October

Home sale activity across Metro Vancouver remained below long-term historical averages in October, according to the latest figures. In its monthly report, the Real Estate Board of Greater Vancouver (REBGV) said that residential home sales in the region totalled 1,966…

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Condo flipping is not a major factor in Vancouver’s housing market: report

Speculation by condominiums flipping is currently not a major factor in Vancouver and Toronto’s housing markets, according to a new report by Bloomberg. The publication gathered and analyzed data from Teranet Inc.’s land and housing registry and found that 3.4%…

Vancouver appears poised to reverse duplex decision, despite housing crisis

It appears a city council motion to stop allowing duplexes in a huge swath of Vancouver is on the way to passing, even as the city battles an ongoing housing crisis. Between the five votes of the Non-Partisan Association, including…

How to ensure you take advantage of all the tax benefits that come with being a landlord

It seems like nearly everyone you talk to these days is a landlord or is thinking of becoming one. While some of us may simply rent out our basement to bring in extra income to help cover the mortgage, others…

Vancouver Detached Real Estate Sales Fall Over 32%, Price Declines Get Larger

Thinking of selling detached Vancouver real estate? It might be a little rough right now. Real Estate Board of Greater Vancouver (REBGV) numbers show sales fell in October. The decline in sales helped to push inventory levels higher, and prices…

Chinese buyer interest in Metro Vancouver’s homes reaches 2-year high: report

There appears to be a resurgence in Mainland Chinese interest in buying real estate in Vancouver, almost exactly two years after the BC provincial government enacted its foreign buyers’ tax. According to recent data released by Juwai, a major international…

Real estate forecast anticipates 2019 sales to edge up after 2018’s fall

Tighter mortgage rules and higher interest rates have dented buying power, but health of the economy backs higher demand. The British Columbia Real Estate Association estimates that economic growth will remain strong enough to support a boost in sales next…

Vancouver councillor Colleen Hardwick seeks to undo mass rezoning of single-family neighbourhoods

Coun. Colleen Hardwick wants to overturn the last major and one of the most contentious decision by the previous Vision Vancouver-dominated city council. It involved the mass rezoning of 99 percent of all 68,000 lots zoned as single-family properties to…

Real Estate Board of Greater Vancouver launches ad campaign to improve industry’s image

As the real estate market shifts, the Real Estate Board of Greater Vancouver is launching a new ad campaign. In a video to members, board president Phil Moore explains the $2-million campaign, which started this month on radio, will expand…

Vancouver expects $30 million in first year of empty homes tax

The City of Vancouver says it has collected $18 million from the first year of its empty homes tax and another $12 million could still flow into its coffers. The city says in a news release that it expects to…

Legislation would restrict size of mansions on B.C. farmland

The B.C. government has introduced legislation to ban mega-mansions on agricultural farmland by overriding local zoning in cities like Richmond. Agriculture Minister Lana Popham’s bill introduced Monday would restrict the maximum size of a home on agricultural land reserve property…

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West Vancouver houses offer much better value than Vancouver’s West Side

Looking for bang for your home-buying buck? Detached home prices on the North Shore – even in West Vancouver – offer much better value than Vancouver’s West Side in terms of cost per square foot, a new national survey reveals.…

Pilot program to cut building permit times for Vancouver houses shows promise

A pilot program to cut down the time to process building permits for single-family homes has yielded promising results, the City of Vancouver says. Builders and developers in the city’s Applicant Supported and Assisted Process (ASAP) pilot program have completed…

Vancouver’s psychologically horrifying pumpkin haunts homebuyers

“Vancouver’s scariest pumpkin” isn’t the monster of the week for a Doctor Who episode, or even the title of SyFy Channel’s newest B-Movie. The pumpkin doesn’t hover ominously, nor does it move when you’re not looking at it. It’s far…

3 Reasons Why Canada’s Housing Bears Have it All Wrong

Many prominent Canadian analysts, pundits, and investors agree: Canada’s housing market — especially in large centres like Toronto and Vancouver — is in a massive bubble. These folks have some compelling evidence on their side. Record-low interest rates made large…

New council may rescind majority vote for duplexes in Vancouver

Let’s go back to that vote Sept. 19 at city hall that saw Mayor Gregor Robertson, his five Vision colleagues and Coun. Hector Bremner vote in favour of allowing duplexes in most single-family neighbourhoods. Remember how controversial that was? Well,…

Agreement will see 650 affordable housing units built in Vancouver’s Yaletown

On his last full day as mayor of Vancouver, Gregor Robertson announced what he called an historic framework agreement between the city, B.C. Housing and Concord Pacific to build up to 650 units of affordable, non-market housing in Yaletown. The units will…

Signs of a Metro Vancouver market recovery? Home sales improve slightly in October

September may have been dismal for Metro Vancouver real estate sales, but October showed a slight improvement, the latest statistics from the Real Estate Board of Greater Vancouver reveal. There were 1,966 home sales in the region October 2018, according…

Stewart promises to tackle housing crisis ‘as fast as possible’

Kennedy Stewart has made it clear that housing is Priority 1 on his agenda when he is sworn in as Vancouver’s first independent mayor in more than 30 years on November 5. “That’s the overwhelming message from the electorate,” said…

October 2018 REBGV Statistics Package: Home listings at four-year October high as sales remain below typical levels

  Home sale activity across Metro Vancouver* remained below long-term historical averages in October. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,966 in October 2018, a 34.9 per cent decrease…

B.C. government launches promised condo flipping registry

The promised condo-flipping registry, designed help crack down on tax evasion and create transparency in B.C.’s real estate market, was launched November 5 by the B.C. government. The new regulations will require developers selling presale condos and other strata units…

Slow sales and lots of inventory push down Vancouver home prices

Prices for Metro Vancouver homes are starting to decline in the wake of sluggish sales and plenty of residences up for sale, according to the Real Estate Board of Greater Vancouver (REBGV). “Home prices have edged down between 3% and…

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Vancouver home supply up as sales drop below historical average in October

The Real Estate Board of Greater Vancouver says home supply is rising and reaching levels not seen in roughly four years, even as the average price inches up year-over-year. The board says the composite benchmark price for all homes was…

Is Apple coming to Vancouver to set up a corporate office—or not?

The world’s most valuable publicly traded company has never had a corporate presence in Vancouver. But this week, many people thought that was about to change when a website declared that Apple has leased 60,000 square feet of office space in a…

Experts urge zoning changes following report showing young families embracing higher density dwellings

While more than half of homeowners have given up their dreams of owning a single-family home, experts are urging the city to follow suit and make zoning easier for families to access higher-density homes. The finding confirms his study on…

Vancouverites confident in property market in face of sales slowdown, survey finds

Most young families in Vancouver’s property market remain confident their property values will do as well or better than other investments, despite a recent slowdown in the market, according to a new survey commissioned by a property firm. In total,…

Top two B.C. real estate investment towns are up north, third near Lower Mainland

The top two spots, according to BIV’s sister publication Western Investor, in B.C. for real estate investors in 2019 are in the northwest part of the province, which is ground zero for the biggest private investment in Canadian history. The third…

Calgary industrial construction hits near-record level

The pace of industrial real estate construction in the Calgary region is the second-highest in the city’s history as the robust market continues to see high demand. Although a significant amount of the current construction is on spec, millions of…

Vancouver’s practice of squeezing money from new social housing is distorting affordability targets, say operators

VANCOUVER—As the city’s new mayor prepares to take office on a promise to build 25,000 affordable housing units over the next decade, non-profit housing operators are warning that a fundamental disconnect inside city hall bureaucracy is eroding the number of…

How will the most recent interest rate hike affect you

In a move that surprised no one, the Bank of Canada (BoC) increased its overnight interest rate by 0.25%, to a total of 1.75%. This marks the fifth interest rate hike since mid-2017. Economists believe that this isn’t the last…

Trouble in Paradise: BC’s Local Elections Shake Up Housing Policy

Construction and real estate add up to a hugely disproportionate share of the Cascadian province’s economy, Bloomberg Businessweek noted Saturday, as BC voters went to the polls in dozens of municipal elections whose overriding issue was housing. Those elections indicated that…

‘A buyer’s market’: The sub-million dollar detached house returns to Vancouver

It wasn’t all that long ago that the prospect of buying a detached home in the City of Vancouver for under $1 million seemed like a dream from another era. The so-called “million dollar line” that used to divide Vancouver’s east…

Vancouver housing market highly vulnerable despite easing prices

The Metro Vancouver housing market is still exhibiting signs of overvaluation as home prices continue to outpace local income growth, according to a new Canada Mortgage and Housing Corporation (CMHC) report released October 25. Although home price growth is moderating in…

Real estate developers will have to change the way they do business, Vancouver’s new mayor warns

Sitting down at a Yaletown coffee shop on Tuesday, the former NDP MP told StarMetro how he plans to make it all work, including getting started on an ambitious housing plan and securing funding to extend a planned subway extension…

The City That Had Too Much Money

In Vancouver, the tidal wave has wrought a dramatic economic, demographic, and physical transformation. Alberni Street, a formerly dowdy downtown thoroughfare, has in the past decade welcomed a two-level Prada boutique with a black marble facade, one of the largest…

Vancouver Presale Real Estate Supply Is Ramping Up As Sales Drop

If you’re looking for a new condo in Greater Vancouver, a whole lot of supply is kicking around. Greater Vancouver is seeing a lot of new pre-sale projects launch in October. MLA anticipates 2,086 new units expected to hit the…

Greater Vancouver Condominiums See Significant Price Appreciation in Third Quarter

The aggregate home price in Greater Vancouver rose 3.9 per cent in the third quarter to $1,270,675, compared to the same period last year. When broken out by housing type, the median price of a condominium increased 9.5 per cent…

Bank of Canada raises interest rate to 1.75%

The Bank of Canada has raised its benchmark interest rate by a quarter point for the fifth time since last summer, pushing up the cost of borrowing for Canadians. The bank’s rate is now set at 1.75 per cent. That’s…

Vancouver land rush over as Metro housing market slows

All signs point to the end of the residential land rush in the Lower Mainland – though Michael Ferreira of market research firm Urban Analytics Inc. didn’t use those exact words in his presentation last week to the Urban Development…

Chinese buyer interest in Metro Vancouver real estate soars again

Following a steep drop-off in Metro Vancouver homes searches by potential buyers in China, interest spiked again in 2018’s third quarter, according to data mined for Glacier Media by China’s biggest international real estate website Juwai.com. The number of inquiries on Metro…

Housing is ‘absolute priority,’ Vancouver mayor-elect says

Among Kennedy Stewart’s plans on the file are immediately hiring a renters’ advocate and increasing supply by 85,000 new units, including 25,000 non-profit rentals, over 10 years. Following his victory, Kennedy told reporters he wants the conversation to move beyond…

New speculation tax brings balance to housing crisis

British Columbia legislation introduced Tuesday would impose a tax of either 0.5 per cent, one per cent or two per cent on the assessed value of a vacant property in the 2019 taxation year and onwards. For the 2018 tax…

BC Green Party agrees to ‘compromise’ with NDP on speculation tax changes

The B.C. Green Party, which has been vocally opposed to the NDP’s speculation tax, has reluctantly agreed to support the legislation after three changes are made, the parties announced October 18. The Ministry of Finance said it will support the…

Detached home prices will soar after three-year slump: analyst

Metro Vancouver’s current housing slump will last until 2021, but will be followed by dramatic doubling in single-family prices, predicts analyst A real estate analyst who accurately predicted Metro Vancouver’s housing crash a year ago says the current slump will…

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Vancouver’s average rental price for one-bedroom apartment jumps to $2,100

The average rental price for a one-bedroom apartment in Vancouver jumped 2.4 per cent last month to $2,100 per month, according to the latest Canadian rankings released by PadMapper. Toronto, with a median asking rental price of $2,230, is the most…

First-time homebuyers stretching to the max: CMHC

The vast majority (85 per cent) of first-time buyers are spending the maximum they can possibly afford on their first home purchase, reveals a Canada Housing and Mortgage Corporation (CMHC) survey released October 18. That compares with 68 per cent…

Canadian homeowners believe smoking cannabis at home will decrease home value: survey

With the new cannabis laws coming into force, would growing pot at home reduce your property’s value? What about smoking weed at home? Do you think a new cannabis store in the neighbourhood would help or hinder a home sale?…

B.C. launches speculation and vacancy tax, with new name following criticism

The newly named “speculation and vacancy tax” will apply to those who own second and vacant homes in applicable areas of B.C. as of December 31, the provincial government announced October 16. Anyone who owns a home that is not…

Housing stress test disproportionately harms young homebuyers: mortgage industry

A recently toughened stress test is making it more difficult for young people and newcomers to the country to buy homes, Canadian mortgage industry leaders say. The stress test requirement came into effect in January. Anyone taking out an uninsured…

B.C. government introduces legislation on speculation tax

VICTORIA — B.C.’s New Democratic government dug in its heels on the contentious real estate speculation tax Tuesday, moving forward to bring it into law despite the protests of local mayors and a development community that warned it could cause…

Which hot trends will affect the Vancouver real estate market in 2019?

Three emerging factors are set to disrupt and transform the real estate market in the near future, according to a new report by Montréal-based real estate website Shupilov.com. Remote working and self-employment, disruptive technology such as autonomous vehicles and virtual…

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In the Vancouver election, it’s all about housing

Peter Cox wants to vote for people in the Vancouver civic election who will tackle housing for people like him: a renter. The 41-year-old, who runs his own recycling business, is renting a one-bedroom condo in Fairview for a reasonable…

Vancouver leads Canada’s first home sales decline in five months

Canadian home sales declined for the first time in five months as activity in Vancouver and Toronto weakened. Sales in Vancouver fell by 1.5 per cent in September and benchmark prices declined 1.2 per cent, the Canadian Real Estate Association…

Condo flippers aren’t the Vancouver and Toronto housing culprits

OTTAWA—Condo flipping was never pervasive in the Vancouver and Toronto housing booms and that sliver of the market has faded over time, suggesting tougher measures to curb speculators won’t make those cities more affordable. Just 3.4 per cent of Vancouver…

B.C. residential forecast still bullish, despite dismal September home sales

Despite B.C. home sales taking a nosedive in September, the British Columbia Real Estate Association (BCREA) stands by a previous assertion that the “downturn is largely behind us” and that market activity is expected to pick up. According to BCREA…

Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

Canada’s housing market slowdown, which began with a drop in sales, is now spreading to home construction. Housing starts in Canada have fallen steeply in recent months as the country’s developers react to a slowdown sales brought on by rising…

Developer files application for 54-storey downtown Vancouver tower

What would be city’s fourth-tallest high-rise aims to echo under-construction Vancouver House opposite, to create new “Granville Gateway” A rezoning application, along with a fresh set of renderings, has been filed with the City of Vancouver for what would be…

Why falling prices won’t make buying a home in B.C. more affordable

“Finally, the market correction we’ve been waiting for!” I hear people saying recently. “Maybe now I’ll actually be able to buy my first home.” Well, cool your jets there, enthusiastic would-be buyer. I’m sorry to break it to you, but…

B.C. Economic Briefing

Labour market momentum intensifies in September B.C. employment surged in September, marking a fourth consecutive monthly increase and pointing to a fi rm rebound after a weak fi rst half. Estimated employment surged by 33,300 persons during the month, marking…

Layers of B.C. taxes and fees add up to 26% ‘tariff’ on new home costs

What if, in the midst of a housing and rental crisis the government implemented a 26 per cent tariff on all new homes. How would you react? Many of you would likely protest on social media, demonstrate, sign petitions and even…

Vancouver opens the door to duplexes

Duplexes might not seem like the most revolutionary form of alternative housing. It’s just two homes on a lot, after all, instead of one – all still in one building. But they are a small step that a cluster of…

Surrey has become Metro Vancouver’s favoured real estate investment destination

Surrey is the fastest-growing metro centre in B.C., and its young population – 22 per cent of B.C. births are now in Surrey – is gunning to claim the title of the province’s biggest city within a generation. The population…

Real estate board reports Metro Vancouver home sales down sharply

VANCOUVER — The Greater Vancouver Real Estate Board says home sales across the region in September plunged more than 40 per cent compared with the same month last year. Statistics from the board show 1,595 homes changed hands in Metro…

September 2018 REBGV Statistics Package: More Supply And Less Demand Seen Across Metro Vancouver Housing Market

 More Supply And Less Demand Seen Across Metro Vancouver Housing Market The supply of homes for sale continued to increase across the Metro Vancouver* housing market in September while home buyer demand remained below typical levels for this time…

Vancouver Housing Market Predictions with BC’s Former Finance Minister Mike de Jong

 Minister Mike de Jong’s predictions for the Vancouver Real Estate Market: As we now know, the majority of that demand was domestic, and that’s a good thing. Unfortunately, we didn’t keep pace in terms of the supply of homes…

Province launches probe into ‘dirty money’ in B.C. real estate

The B.C. government is launching its promised Phase 2 investigation into money laundering in the province, this time focusing primarily on real estate, as well as luxury cars and horse racing. The move follows the sweeping regulatory changes made in…

Home ownership ‘for the rich only’ in Metro Vancouver: RBC

Housing affordability has fallen to “never-seen-before” levels in Vancouver, according to a new report from RBC Economic Research. Metro Vancouver residents on average would have to devote 88.4% of their income in the second quarter to cover the cost of…

B.C. launches new money laundering review in real estate sector

VICTORIA — B.C. will conduct a second independent review into money laundering, this time focusing on whether illegal proceeds of crime have been used to buy real estate, to gamble at horse-racing tracks and to buy expensive luxury cars. Attorney…

$1M+ real estate in Metro Vancouver turning into a buyer’s market – even for condos: Sotheby’s

Following a lacklustre summer performance, Metro Vancouver’s $1 million-plus real estate market is set to see even greater declines this fall, according to a Sotheby’s forecast released September 26. The luxury real estate brokerage said that the patterns in “top-tier”…

Metro Vancouver residents have increasingly negative view of real estate developers

For the past three years, housing has consistently topped the charts as the most important issue facing most cities in Metro Vancouver. Aside from Surrey, where crime and public safety are regarded as a more pressing concern, all other municipalities…

Developers, candidates and planners argue over Vancouver’s move to allow duplexes

Vancouver city council’s vote to allow duplexes in most parts of the city’s single-family home areas could be easily reversed after the Oct. 20 election. One independent mayoral candidate, Sean Cassidy, is already calling on city council candidates to reverse…

GLOBAL REAL ESTATE TRENDS

BC Home Sales May Be Turning A Corner August Canadian Real Estate Association data suggest sales in the Greater Vancouver area are stabilizing, though activity remains well below year-ago levels. This is occurring just as Labour Force Survey data show…

B.C. Rental Housing Task Force recommends cutting annual rent increase cap

Annual rent increases for tenants in B.C. should be limited to the cost of living, a provincial government task force is urging. The recommendation by the B.C. Rental Housing Task Force would do away with the current calculation that allows…

B.C. housing prices, sales continue to slide

The year of discontent persists for the housing sector as the confluence of federal mortgage stress-testing measures, higher interest rates, provincial policy measures and buyer skittishness continued to weigh on the market. Price levels are in retreat as sellers tone…

Notable NIMBYism numbers in the lead-up to B.C.’s municipal elections

During B.C.’s municipal election campaigns, we are going to hear a lot about the so-called not-in-my-backyard (NIMBY) attitude. Depending on which municipality you live in, the next five weeks will be dominated by political discussions that will inevitably involve what…

Canadian Real Estate Association Lowers Sales Forecasts For 2019… Again

The Canadian real estate industry expects sales to slow further than previously thought. Canadian Real Estate Association (CREA) economists have revised their annual forecasts. The good news is the summer was better than expected, leading to an improved outlook for…

Vancouver residents divided over duplexes replacing single-family homes

At one point on Sept. 18, the first day of a public hearing to determine whether duplexes should be permitted in most single-family neighbourhoods in Vancouver, Vision Coun. Andrea Reimer turned to a speaker and asked what she made of…

Vancouver mayoral candidates debate housing platforms

The Courier, Business in Vancouver and Vancouver is Awesome co-hosted the first mayoral debate of the election campaign Monday night. Here’s a summary of what six of the candidates had to say on housing issues. (Due to the format of…

City of North Van council approves 187-foot tower, pockets $17 million

It’s worth putting a highrise in Central Lonsdale to put $17 million in the city’s coffers. That was the consensus in City of North Vancouver chambers Monday night as council voted to approve an 18-storey, 162-unit strata building on East…

Making Room Housing Program

Shifting towards the right supply of housing to meet the needs of people who live and work in Vancouver is a key objective of the Housing Vancouver Strategy. To meet the right supply targets, we are looking at new opportunities…

Relief for B.C. renters on its way: Horgan

With renters facing significant rent hikes, Premier John Horgan says he’s hopeful a new formula for setting limits on increases will arrive soon. The provincial government currently uses the B.C. Consumer Price Index to determine increases. It adds up to…

Canadian housing market increase slowed in August but sales are still up overall

OTTAWA – Canada’s housing market rebound appears to be slowing amid diminishing increases in national home sales, says the Canadian Real Estate Association. The organization said on Monday that home sales saw their fourth consecutive increase in August, rising 0.9…

Vancouver sees the number of commercial real estate transactions go down while their total dollar value goes up

VANCOUVER—The fall of commercial real estate transactions continued into the second quarter of this year, with fewer transactions compared to recent years. The Real Estate Board of Greater Vancouver reports there were 569 commercial real estate sales in the Lower…

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Exactly how unaffordable are Metro Vancouver’s detached homes? (INFOGRAPHIC)

We all know that for most households earning a median income, buying a detached house in Metro Vancouver is highly unaffordable, unless they have already built up considerable equity or have another source of wealth. But exactly how much of…

REBGV August 2018 market update video

 REBGV President Phil Moore and President-Elect Ashley Smith provide a summary of the August 2018 housing market statistics.

B.C. announces largest max allowable rent increase in a decade for next year

The Province of British Columbia has announced the maximum allowable rent increase for 2019, and it’s the largest rent hike in more than a decade. Next year, landlords can raise rents by a maximum of 4.5%. This figure is partly…

B.C. municipalities call on province to tackle real estate speculation

As mayors and provincial leaders gather for the annual Union of B.C. Municipalities summit in Whistler this week, the union is taking the opportunity to renew calls for the province to do more on real estate speculation. In a document…

The Key to Making Great Deals Using Time-Tested Techniques with Dave Steele

Western Canadian Properties Group has developed over 12,000 properties, primarily focused on appealing to investors with strict cash-flow goals throughout B.C., Alberta & the western United States. That’s a lot of doors and not always an easy offering! CEO Dave…

Over 1,100 residential units to be built near Richmond’s Brighouse Station

The historic shops and restaurants on No. 3 Road, across the street from Richmond Centre, will soon be all gone and replaced by nine new towers. The three newly proposed developments at the No. 3 and Cook roads intersection will…

Candidates’ release of housing platforms marks the real start of Vancouver’s election campaign

VANCOUVER—From following Whistler’s lead and creating employee-specific housing, to hiring a chief economic officer to oversee land use decisions, some Vancouver mayoral candidates are starting to provide more details on how they would fix the city’s housing crisis. The lack…

Housing market calmer in August: Real Estate Board of Greater Vancouver

Good news if you’re looking to buy a home in Metro Vancouver. “Both July and August we’ve seen slight decreases in the benchmark price,” Phil Moore, president of the Real Estate Board of Greater Vancouver, said. The board released monthly figures for…

Too much housing, not enough transportation: survey

In focusing on housing, Greater Vancouver residents and businesses believe municipal governments have missed the mark on transportation issues, and local politicians know it. Mustel Group and FleishmanHillard HighRoad, in partnership with the Greater Vancouver Board of Trade (GVBOT), published…

Broadway Subway officially approved

Following the federal and provincial government’s official announcement of full funding for the Broadway Subway, the City of Vancouver extends its thanks to residents, businesses, and government partners for their continued support of the project. The extension of rapid transit…

Bank of Canada maintains overnight rate target at 1 ½ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. CPI inflation moved up to…

August 2018 REBGV Statistics Package: Home Buyer Demand Stays Below Historical Averages In August

 Home Buyer Demand Stays Below Historical Averages In August The Metro Vancouver* housing market continues to experience reduced demand across all housing types. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region…

Ensure you’re in the clear: Tax court decision serves as warning to home buyers

Perhaps you’ve heard the story of the man who was in the hospital in a coma for several weeks. His wife was by his side the entire time. After waking up, his eyes filled with tears and he said to…

Could CMHC recruit Canada Revenue Agency to help fight mortgage fraud?

Canada Mortgage and Housing Corp. (CMHC) is considering calling in the Canada Revenue Agency (CRA) to battle an increase in mortgage fraud. The campaign is either overkill or inevitable, according to mortgage industry sources. The focus of the oversight is…

Loonie deal: City of Vancouver may resell portions of Arbutus corridor for $1

For $1, the Canadian Pacific Railway (CPR) can get back portions of the Arbutus rail corridor in Vancouver. These are lands on the east side of Fir Street between West 1stand West 5th avenues. Before the City of Vancouver bought the…

Major rapid transit projects to ease congestion in Metro Vancouver

Metro Vancouver is home to some of the fastest-growing cities in Canada. Modern, efficient transit systems are needed more than ever to reduce traffic congestion, connect businesses and communities, and meet the needs of a rapidly growing population. The Prime…

Is This the End for Vancouver’s ‘Single-Family’ Neighbourhoods?

With zoning reform a sexy election issue, an evolutionary leap could be coming. Who would’ve guessed the suggestion to rezone all of Vancouver would be taken seriously in an election? In the midst of a housing crisis, a number of…

Grosvenor ranks Toronto, Vancouver and Calgary the world’s top cities for long-term real estate investment

Toronto, Vancouver and Calgary are the world’s top cities for long-term real estate investment, a report by Grosvenor’s research said this week. Grosvernor, an international property development company based in the U.K., ranks 50 of the world’s cities on their…

Home selling prices still secret in B.C.

Last week, for the first time in Canada, the general public could see exactly what any home sold for through the Toronto Real Estate Board (TREB), but that information remains a guarded secret in B.C.‘s Lower Mainland. The release of…

More than half of Generation Z wants to buy a home in next few years: poll

Although the widespread perception is that today’s young Canadians are increasingly giving up on the dream of homeownership and planning to rent long term, the results of a new Re/Max-commissioned poll suggests that this isn’t the case. The survey by…

Canada’s Fastest Growing Real Estate Prices Aren’t In Toronto Or Vancouver

Canada’s small cities seem to be catching FOMO. Canadian Real Estate Association (CREA) numbers show large cities are seeing price growth taper. Meanwhile, smaller real estate boards are seeing real estate price growth outpacing major cities. Yes, You Should Care…

Apartment building owners face tougher times, but prices remain high

The signs are subtle so far, but they may represent the first downdraft in Metro Vancouver’s multi-family apartment building market after years of record-snapping demand and prices. And yet, multi-family investment insiders remain confident of future performance. The warning signals…

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Buying a condo in Metro Vancouver may get harder in 2019

VANCOUVER (NEWS 1130) – Rising prices and dropping sales have prompted more speculation about what’s in store for Greater Vancouver real estate. The BC Real Estate Association is predicting prices will climb nearly two per cent this year, but UBC…

BMO ‘net bullish’ on B.C. economy despite signs of slowdown: CEO

The Vancouver housing market is in for a slow-down this year. An industry that’s still one of the province’s primary economic drivers — and sources for anxiety — is poised to see home sales fall 25.7% in 2017, according to…

July’s increase ends housing-sales slump

B.C. ended a six-month slide in Multiple Listing Service (MLS) home sales in July but activity remained low as mortgage stress tests, higher interest rates and provincial policy continued to weigh. Total sales reached a seasonally adjusted 6,212 units, a 0.9%…

Most Metro Vancouverites believe home prices won’t drop: Angus Reid

Metro Vancouver was rated one of the highest real estate bubble risks in the world by global financial services company UBS Switzerland last year, but most Metro residents say they don’t think prices in the region are ever going to…

The Amazon era is making Vancouver the world’s hottest industrial real estate market

Forget that multi-million-dollar condo on Vancouver’s waterfront. Invest in a warehouse instead. The Canadian city is the world’s hottest industrial real estate market with lease rates up 29 per cent in the first quarter year-on-year versus a global average of…

A Vancouver expat experiences Hong Kong rental shock

After I told people I was moving to Hong Kong for work, those who’d lived in the city before mentioned two certainties. One: The heat, where the humidity gets trapped in between the high-rise buildings, would be a difficult adjustment.…

Foreign buyers all but disappeared from Metro Vancouver real estate market: data

The latest property transfer data from the B.C. Ministry of Finance, released at the end of July, indicates that foreign buyers have all but disappeared from the Lower Mainland. The numbers show that just one per cent of all real…

Metro Vancouver real estate prices are 65% overvalued: Economist

Metro Vancouver real estate is valued at 65 per cent higher than it should be, based on local incomes, according to a new global house price index by The Economist. The U.K.-based financial publication’s research team found that the region’s…

Vancouver housing sales expected to drop 26% in 2018: BCREA

The effects of stricter mortgage qualification rules – known as B20 guidelines – that came into effect January 1 have driven housing demand down across B.C and are expected to push housing sales down further this year, according to a…

Vancouver apartment rent growth flat over past year: PadMapper

The cost to rent both one- and two-bedroom apartments remained flat in Vancouver year-over-year in August, according to new PadMapper data, which includes median rents for all homes that are currently available to rent or vacant and does not include…

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