May 16, 2017
7th Annual University Highlands Elementary Carnival
Proud Sponsor of the University Highlands Elementary School annual Carnival. The Pony rides are always a huge hit with the kids. Join us, Saturday May 27th.
May 15, 2017
Just Listed: 003 9060 University Cr., Simon Fraser University
Gorgeous Forest Views
1 Year Young
Priced at $374,800
Investor, student and first time buyer alert! This 1bed/1bath/545sqft above-ground home offers floor to ceiling windows and is nestled in lush forest and green space views. Features: an efficient floor plan, quality engineered floors, GE Cafe appliances, quartz counters, a spacious kitchen w/breakfast bar & covered balcony. Spacious master has large closet space. Altitude is Vancouver’s highest rising tower, 1 yr young & rental & pet friendly. Bonus: locker & parking. Walk to: transit, campus, childcare, shopping, indoor/outdoor...
May 15, 2017
Canadian home sales drop in April
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined in April 2017.
- National home sales fell 1.7% from March to April.
- Actual (not seasonally adjusted) activity in April was down 7.5% from a year earlier.
- The number of newly listed homes jumped 10% from March to April.
- The MLS® Home Price Index (HPI) was up 19.8% year-over-year (y-o-y) in April 2017.
- The national average sale price rose 10.4% y-o-y in April.
Home sales over Canadian MLS® Systems fell by 1.7% in April 2017 from the all-time record set in March....
May 15, 2017
BC Home Sales Turn Higher, Inventories at 20-Year Low
The British Columbia Real Estate Association (BCREA) reports that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4 per cent from April 2016. The average MLS® residential price in the province was $728,955, a 2 per cent decrease from the same period last year.
“BC home sales are on an upward trend this spring, led by a sharp increase in consumer demand in the Lower Mainland,” said Cameron Muir, BCREA Chief Economist....
May 11, 2017
3 Cities Push Canada To Another Record On House Prices
Home prices in Canada rose for the 15th straight month in a row in April, according to the Teranet-National Bank house price index, which once again hit its highest levels ever.
But virtually all the strength seen over the past year came from just three cities — Toronto, Hamilton and Victoria.
The index, which tracks repeat sales of single-family homes over time, found Toronto led the way, with the price index rising 2.6 per cent in April. The city has seen prices jump 7.3 per cent since the start of the year, and 26.3 per cent in the past 12 months.
Nearby Hamilton, which is experiencing...
May 11, 2017
Vancouver house prices spillover to surrounding centres
Increases in home prices in the City of Vancouver have had a spillover effect in surrounding British Columbia municipalities. Centres within commuting distance of Vancouver City experienced the strongest spillover effect, however, price increases could also be seen in municipalities outside commuting range.
This analysis is part of Canada Mortgage and Housing Corporation’s (CMHC) latest Housing Market Insight (HMI) report on the link between Vancouver home prices and other major centres in British Columbia.
- Home price changes in the City of Vancouver have a measurable effect...
May 9, 2017
CMHC releases 2016 Annual Report Innovating for Better Housing Outcomes
Canada Mortgage and Housing Corporation (CMHC) today released its 2016 Annual Report titled “Innovating for Better Housing Outcomes”.
In 2016, CMHC supported over 500,000 Canadian households through long-term social housing commitments and provided mortgage loan insurance for more than 350,000 homes. The report captures how CMHC, as Canada’s authority on housing, contributes to the stability of the housing market and financial system while providing support for Canadians in housing need.
Contributing to stability of the housing market and financial system
- Mortgage loan insurance...
May 8, 2017
Canadian housing starts trend upwards in April
Housing starts are trending higher at 213,768 units in April 2017, compared to 210,702 units in March 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.
“New housing construction increased in Canada, with seasonally adjusted data exceeding 200,000 units for five months in a row”, said Bob Dugan, CMHC’s Chief Economist. “The increase in the trend was mainly due to apartment construction in British Columbia and Québec, which...
May 2, 2017
Vancouver housing market is rebounding from tax impact, with prices up 5% in three months
Prices in Canada’s most expensive city for existing homes appear to have rebounded from the impact of a tax on foreign buyers as Vancouver realtors reported Tuesday a huge swing in demand for condominiums and townhomes in April.
The Real Estate Board of Greater Vancouver said the composite benchmark price for all residential properties in Metro Vancouver was $941,100 in April, an 11.4 per cent increase from a year ago but a five per cent jump in the past three months.
Sales of all property types dropped 25.7 per cent from a year ago to 3,533 in April but were 4.8 per cent above the 10-year...
May 2, 2017
Condominiums and townhomes in high demand across Metro Vancouver
Demand for condominiums and townhomes continues to drive the Metro Vancouver* housing market.
Residential property sales in the region totalled 3,553 in April 2017, a 25.7 per cent decline compared to April 2016 when 4,781 homes sold and a 0.7 per cent decrease from the 3,579 sales recorded in March 2017.
April sales were 4.8 per cent above the 10-year average for the month.
For the first four months of the year, condominium and townhome sales have comprised a larger percentage of all residential sales on the Multiple Listing Service® (MLS®) in Metro Vancouver. Over this time, they’ve...
May 1, 2017
Commercial Real Estate: UniverCity population set to double as community expands
Over the next five years, the population at Simon Fraser University on Burnaby Mountain is expected to double to 10,000 residents, and campus stakeholders are aiming to tailor the area’s mix of commercial space to meet the needs of the emerging town centre.
Underscoring the growth at SFU was the recent announcement by the B.C. government, Burnaby school district and SFU stakeholders to jointly fund another 195 new spaces at the University Highlands Elementary School to the tune of $3.9 million, according to a news release sent out by the SFU Community Trust in March.
Another deal is nearing...
April 24, 2017
Real estate speculation: Victoria now asking for foreign buyers tax
VICTORIA — City council is calling on the province to immediately impose a 15 per cent non-resident buyers tax here to cool what has become one of the three hottest real estate markets in the country.
The request comes after what some councillors see as the success of the same foreign buyers tax imposed last fall in Vancouver, and as Ontario Premier Kathleen Wynne announced a 15 per cent foreign buyers levy in the Toronto area.
“We all know that we have a housing crisis and that the cost of home ownership and rent is getting higher and higher and the dream of home ownership is getting...
April 24, 2017
Has home affordability actually improved in Vancouver?
The B.C. government unveiled a foreign-buyer’s tax last summer aimed at tamping down Vancouver’s runaway real estate market and making homes more affordable.
Eight months later, has home affordability actually improved?
Vancouver-area sales, listings and prices all dropped after the measure – a 15-per-cent property transfer tax on foreign national home buyers – went into effect Aug. 2.
But by then, the market was already cooling, Royal Bank of Canada senior economist Robert Hogue said last week in a report.
“The impact of the tax in Metro Vancouver...
April 21, 2017
Vancouver’s presale condo market reaches fever pitch
Vancouver’s presale condo market is in need of regulation and transparency, say realtors whose clients are being routinely shut out of the frenzied market.
The presale market is the “wild west” of the industry, says realtor Steve Saretsky, who posted a blog post recently, titled “Vancouver Pre Sale Condo Ponzi Scheme.” Mr. Saretsky, who often speaks out against his own industry, says it’s common that offshore investors get first dibs on presale purchases. Those purchases are assigned, or flipped, to local buyers at a premium. He says in recent months,...
April 21, 2017
JUST SOLD: 507 9339 University Cr., Simon Fraser University
Harmony by Polygon. Walking distance to SFUniversity. Views to the East and Some South Views. Spacious floor plan. 2 Bedrooms, 2 Full Bathrooms. Features Laminate hardwood floors, Cozy Gas Fireplace and Stainless Steel appliances, Gas Stove. Living and Dining Room and Kitchen creates an open plan. In-suite Laundry. 2 Parking and 1 Storage Locker. Perfect for Investors, Students or a home away from home. Amongst natural surrounding. Residents will appreciate the many benefits of living at University including access to the University's facilities such as Library, fitness center, Tennis racket sports...
April 20, 2017
CMHC to introduce changes to multi-unit mortgage loan insurance to better support rental housing
The rental market is an important housing option for approximately 30% of Canadians. Effective May 15, CMHC will introduce enhancements to its multi-unit mortgage loan insurance that will address the rental needs of Canadians while supporting efforts to expand and preserve the supply of affordable rental housing.
“CMHC’s products and services facilitate access to housing for all Canadians, not just homebuyers” said Steve Mennill, Senior Vice-President, Insurance. “The enhancements to our multi-unit mortgage loan insurance products and policies are designed to expand our ...
April 19, 2017
BC Real Estate Association Unveils Housing Affordability Plan
Five-pillar approach will build stronger communities
The British Columbia Real Estate Association (BCREA) today announced a five-pillar approach to address housing affordability for renters, homebuyers and homeowners across British Columbia.
BCREA’s five pillars include timely recommendations to: assist consumers with housing costs, encourage the creation of more rental housing, densify urban areas, adjust the Property Transfer Tax, and promote best practices among local governments.
“REALTORS® understand the importance of housing affordability in creating strong communities,...
April 18, 2017
Canada’s Two Largest Real Estate Markets Head in Opposite Directions in the First Quarter of 2017
According to the Royal LePage House Price Survey released today, Canada’s residential real estate market saw substantial price growth in the first quarter of 2017. While the majority of Canadian housing markets posted modest gains, price appreciation across much of Ontario significantly outpaced the rest of the country, with similar market dynamics to those that have driven housing activity in the Greater Toronto Area (GTA) beginning to impact the entire “Golden Horseshoe” region of south-central Ontario, and as far away as Windsor and London in southwestern Ontario. Meanwhile,...
April 18, 2017
Canadian home sales edge higher from February to March
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in March 2017.
- National home sales rose 1.1% from February to March.
- Actual (not seasonally adjusted) activity in March was up 6.6% from a year earlier.
- The number of newly listed homes climbed 2.5% from February to March.
- The MLS® Home Price Index (HPI) was up 18.6% year-over-year (y-o-y) in March 2017.
- The national average sale price increased by 8.2% y-o-y in March.
Home sales over Canadian MLS® Systems edged up 1.1% in March 2017,...
April 18, 2017
JUST SOLD: 502 9009 Cornerstone Mews, Burnaby, Simon Fraser University
WELCOME TO THE HUB! Investors, do not miss this gorgeous junior 1 bedroom south facing condo. Functional layout with laminate flooring, beautiful high ceilings, in-suite laundry and stainless steel appliances. On the balcony, you can overlook the Fraser Valley and the mountains on the quite side of the building. Built by reputable local builder -Liberty. Perfect for students at SIMON FRASER or who work there. PERFECT FOR INVESTORS as student housing is in demand! Gorgeous kitchen boasts stainless steel appliances, rich dark cabinets and stone countertops. Plenty of storage space. Steps away from...