While improving conditions were noted in both Winnipeg and Saskatoon, Canada’s housing markets remain highly vulnerable overall for the sixth consecutive quarter with evidence of overvaluation and price acceleration, according to Canada Mortgage and Housing Corporation (CMHC).
On a quarterly basis, CMHC issues its Housing Market Assessment (HMA) to provide Canadians with both expert and impartial insight and analysis, based on the best data available in Canada. This report acts as an “early warning system” for the country’s housing markets – an important tool...
The deadline for Vancouver homeowners to declare whether or not their home is occupied is this Friday, Feb. 2, 2018.DARRYL DYCK / THE CANADIAN PRESS
The deadline for Vancouver homeowners to declare whether or not their home is occupied is this Friday, Feb. 2, 2018.
Those who fail to declare or who declare that their home is unoccupied will be subject to the empty homes tax of 1 per cent tax on the assessed taxable value of their home.
Here’s five things to know about the tax, the deadline and what’s next.
Canada ranks as the second best country globally once again, according to the 2018 Best Countries report by US News & World Report, Y&R’s BAV Consulting, and the Wharton School of the University of Pennsylvania.
The number two ranking is out of a list of 80 countries, and Canada only trails behind Switzerland at number one.
Canada also came in at number one for quality of life and number four for citizenship.
The quality of life sub-ranking is based on several factors: affordability, job market, economic stability,...
Huge semi-private, West facing, outdoor patio with direct access to your suite; perfect for gardeners & pet owners alike. This 2bed/2bath/954sqft home shows very well. Functional open concept layout with excellent room separation, you don’t want to miss this one! Features: freshly painted, cork flooring, SS apps w/gas stove, gas F/P & direct patio access. Huge master with ensuite, soaker & walk-in closet & a large 2nd bed complete this home. Located in The Harmony, a rental & pet friendly complex. Close to:...
Vancouver's attempt to address the issue of people purchasing properties and leaving them empty is hurting the wrong people, citizen group says.
The lot at 6161 Macdonald St., Vancouver, owned by Jane Macdougall. Ms. Macdougall restored the house at the right, then subdivided the adjoining empty lot. PHOTOS COURTESY OF Jane Macdougall
When Samantha Reynolds got a reminder from the city in the mail that she had not yet submitted her Empty Homes Tax declaration, she shook her head at the irony.
Ms. Reynolds lives a few houses down from a house owned by the city that has been vacant...
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook.
The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank...
Happy New Year! I wish you and your families a healthy and prosperous 2018.
Another year has come and gone and what a year it is has been. There was significant media attention given to the real estate market in the Lower Mainland. It felt like not a day went by that some news outlet was reporting something about real estate. And it was not just about home prices.
Prices are too high. Debt levels are too high. Vancouver real estate market highest in the world. And, oh Foreign Buyers, Foreign Buyers, Foreign...
The British Columbia Real Estate Association (BCREA) reports that a total of 103,763 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in 2017, a decline of 7.5 per cent from a record 112,211 unit sales in 2016. The average MLS® residential price in BC was $709,579 in 2017, up 2.7 per cent from the previous year. Total sales dollar volume was $73.63 billion, down 5.1 per cent from 2016.
“Robust housing demand in 2017 was underpinned by a strong economy, employment growth and rising wages,” said Cameron Muir, BCREA Chief Economist....
The old Safeway on Austin Avenue is down to make way for a new and expanded grocery store. The property owner, Beedie Living, plans to build two new highrises after the store opens in the summer of 2019.
An illustration of the proposed Safeway site, looking northeast. Photograph By BEEDIE LIVING
In the centre of Austin Heights, one of Coquitlam’s oldest neighbourhoods, excavators are at work tearing up the ground on the old Safeway site to make way for a massive redevelopment.
The 91,500-sq. ft. property at 1029-1033 Austin Ave. is owned by Beedie Living, the company that...
The trend in housing starts was 226,777 units in December 2017, compared to 226,178 units in November 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“Despite the variation in activity across the country, the national trend in housing starts held steady at its highest level since 2008,” said Bob Dugan, CMHC’s chief economist. “Apartment starts in urban centres were up 6.2% in 2017 compared to 2016.”
There’s never a dull day in real estate. Last year started off with a big nervous question: Will the Canadian housing market crash? In 2018, the new year started off with more of a sigh. Analysts across North America came out with various pronouncements of deceleration in activity and pricing, but the overwhelming consensus was that the nation’s real estate landscape would flatten out, even in the hot Toronto and Vancouver markets.
It wasn’t too bold of a prediction. Activity was way down in the summer months of 2017, even as the number of listings was finally growing. This prompted...
Huge semi-private, West facing, outdoor patio with direct access to your suite; perfect for gardeners & pet owners alike. This 2bed/2bath/954sqft home shows very well. Functional open concept layout with excellent room separation, you don’t want to miss this one! Features: freshly painted, cork flooring, SS apps w/gas stove, gas F/P & direct patio access. Huge master with ensuite, soaker & walk-in closet & a large 2nd bed complete this home. Located in The Harmony, a rental...
VANCOUVER - An upward trend in housing prices isn't expected to significantly change in British Columbia despite an anticipated slowdown in sales this year, economists say.
The B.C. Real Estate Association's chief economist said Wednesday that new housing stock, slightly higher interest rates and tighter mortgage regulations will result in about a 10 per cent decline in sales compared with 2017.
But demand continues to outpace supply in most markets from Vancouver Island to the Okanagan, which spurs rising prices, Cameron Muir said.
"We would need a combination of a pretty substantial decline in...
After reaching record levels in 2015 and 2016, Metro Vancouver* home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attachedand apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.
Last year’s sales total was, however, 9.7 per cent...
Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.
Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.
Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.
CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.