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...

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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.

What happens if I miss the deadline?

A homeowner who fails to make a declaration...

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Canadians have never had it so good.

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,...

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Fabulous Outdoor Space

Spacious Layout

Price at $498,800

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:...

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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...

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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...

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imon Fraser University 2017 A Year in Review

 

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...

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Statistics released today by The Canadian Real Estate Association (CREA), show national home sales continued to climb in December 2017.

Highlights:

  • National home sales rose 4.5% from November to December.
  • Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y).
  • The number of newly listed homes climbed 3.3% from November to December.
  • The MLS® Home Price Index (HPI) in December was up 9.1% y-o-y.
  • The national average sale price advanced by 5.7% y-o-y.
 

Home sales via Canadian MLS® Systems posted their fifth consecutive monthly increase in December 2017, fully recovering...

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REUTERS

A for-sale sign is pictured in front of a home in Vancouver on Sept. 22, 2016.

Home prices climbed sharply in Canada in 2017 as booming sales in British Columbia offset weaker home sales in Ontario.

The Canadian Real Estate Association released year-end numbers on Monday, reporting the national benchmark home price was $600,300...

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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....

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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.

 

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...

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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.”

Monthly highlights...

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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...

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Fabulous Outdoor Space

Spacious Layout

Price at $498,800

Open: Sat. Jan. 13 from 2 to 4pm

.

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...

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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...

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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...

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Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

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.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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