Spacious and Open Layout

3 Bedroom Concrete Home

Open House Feb 4 1:00 to 3:00

Priced at $538,800

Open Sky views, bright, spacious & extremely clean! This 3bed/2bath/1168sqft luxury concrete home, located in OneUniversity offers an excellent layout, fresh paint & shows well. You won't be disappointed. Features: East/West exposure from two large covered balconies, 9’ ceilings, open kitchen w/SS apps, bar fridge, quartz counters & breakfast bar & a cozy fireplace. The large master has his/her walk-through closet, 5pc ensuite w/soaker & separate shower. The 2nd & 3rd rooms...

Search “Canadian Housing Market Bubble” on the internet. Just do it.

Despite warnings from banks worldwide and within Canada, reports from economic think tanks, a slew of data, and unbiased analysis, I still come across articles written largely by Canadian institutions or investors with a vested interest in not only maintaining but growing the Canadian housing bubble. Whether it is a real estate association or a group of investors with long positions in risky real estate stocks, some people just don’t want to see what is right in front of them. What’s worse, these same...

Canada Mortgage and Housing Corporation (CMHC) is reporting strong overall evidence of problematic housing market conditions nationally for the second consecutive quarter due to overvaluation and price acceleration in Canada’s housing markets. This assessment largely accounts for market conditions in Vancouver and Toronto where strong price growth has been spreading to neighbouring centres such as Hamilton and Victoria.

Canada saw house prices grow by 7 per cent year-over-year at the end of the third quarter of 2016 after adjusting for inflation. However, removing Ontario from the...

The Bank of Canada announced on January 18^th, 2017 that it was keeping its trend-setting target overnight lending rate at 0.5 per cent.

The announcement was accompanied by the Bank’s Monetary Policy Report (MPR), which indicated that the Canadian economy and job market remains slack. Both the Bank’s policy interest rate announcement and MPR keyed in on headwinds and uncertainties facing the Canadian economy. Moreover, it expects Canadian housing activity to weaken in the face of “previously announced changes to housing finance rules and by mortgage rates that have risen in response...

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Uncertainty about the global outlook is undiminished, particularly with respect to policies in the United States. The Bank has made initial assumptions about prospective tax policies only, resulting in a modest upward revision to its US growth outlook. Overall, the global economy is strengthening largely as expected and prices of some commodities, including oil, have risen. The rapid back-up in global bond...

CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment.

“We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.”

Capital requirements are an important factor in determining...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in December 2016.

Highlights:

• National home sales rose 2.2% from November to December.
• Actual (not seasonally adjusted) activity in December was down 5.0% from a year earlier.
• The number of newly listed homes dropped 3.0% from November to December.
• The MLS^® Home Price Index (HPI) in December was up 14.2% year-over-year (y-o-y).
• The national average sale price climbed 3.5% y-o-y in December.

The number of homes trading hands via Canadian MLS^® Systems...

The British Columbia Real Estate Association (BCREA) reports that a record 112,209 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2016, an increase of 9.5 per cent from the previous year. Total sales dollar volume was a record $77.6 billion, up 18.8 per cent from 2015. The average MLS® residential price in the province climbed 8.6 per cent to $691,144 on an annual basis in 2016.

“Broad-based consumer demand driven by strong economic conditions, employment growth, consumer confidence, and an expanding population base pushed home sales to record levels...

The trend measure of housing starts in Canada was 198,053 units in December compared to 200,105 in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“December saw multi-unit construction slow for the third consecutive month in Canada, leading housing starts to trend down,” said Bob Dugan, CMHC Chief Economist. “However, 2016 still counted more home starts than 2015.

Increased demand for single-detached homes more than offset the decline we...

Turns out 2017 might be the year when B.C. home buyers will finally get a break. But don’t bother throwing a party, yet.

Price drop is due to a lack of supply 

The Canadian Real Estate Association (CREA) predicts prices will drop by about 7.8% in 2017 in B.C., primarily due to a lack of supply of higher-priced single family homes in the Lower Mainland and Vancouver areas.

CREA’s Chief Economist, Gregory Klump, likens this forecasted price decline as the equivalent of removing the basketball team from a Grade 8 class. “Throw in the basketball team and the average...

While real estate might be a product of local markets, probably the single biggest reason for the potential nation-wide real estate slowdown in 2017 are macroprudential measures introduced in late 2015 and throughout 2016 (and possibly stretching into this year, should banks be required to cover a portion of mortgage default losses). 

What are macroprudential measures?

Macroprudential is a term used to describe financial policies that are aimed at minimizing or eliminating risks to the financial system as a whole — think of it like a blanket, nation-wide policy that’s...

Strict new government scrutiny on Chinese people who want to convert their money into other currencies threatens to slow the rush of foreign property buying that has stoked sky-high home prices in Canada and around the world.

For months, China has sought to dam the flood of money pouring out of its borders, which has rapidly diminished its stockpile of foreign reserves.

It has raised new barriers to companies buying abroad and moving money out of the country.

The Metro Vancouver* housing market had its third highest selling year on record in 2016, behind only 2015 and 2005.

Sales of detached, attached and apartment properties in the region reached 39,943 in 2016, a 5.6 per cent decrease from the 42,326 sales recorded in 2015, and a 20.6 per cent increase over the 33,116 residential sales in 2014.

“It was an eventful year for real estate in Metro Vancouver. Escalating prices caused by low supply and strong home buyer demand brought more attention to the market than ever before,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV)...

Home values in the Vancouver region skyrocketed in the latest BC Assessment data, with the snapshot from mid-2016 capturing the housing market before it cooled off.

Assessments for single-family detached houses jumped 30 per cent to 50 per cent in value from July 1, 2015, to July 1, 2016. For example, a typical detached home on a lot with a width of 33 feet (10 metres) on Vancouver’s west side soared 41 per cent in value, BC Assessment said Tuesday.

The provincial Crown corporation estimates values on behalf of B.C. municipalities, which use the data to determine how much homeowners will pay...