The New ‘Strange Reality’ For Fraser Valley Real Estate

July 18th, 2017
These are strange times indeed for real estate south of the Fraser River, marked by low inventory, a townhouse and apartment boom outpacing the detached market, an uncertain political climate and bidding wars as far away as Chilliwack – all of this on the heels of a 2016 that broke sales records dating back to 1921. Industry experts tried to make sense of the frenetic climate at a recent Urb ...
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Vancouver One-Bedroom Rent Hits Another Record High In July

July 18th, 2017
Vancouver’s already-expensive rent has broken yet another record, according to PadMapper’s latest report. In July, the average rent in Vancouver for a one-bedroom apartment increased 2.5%, reaching $2,090. This was the first time rent for this home type jumped higher than the $2,000 mark since PadMapper started tracking this data across Canada. Two-bedroom rent, on average, was $3,230 in Va ...
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Bank of Canada hikes Key Interest Rate to 0.75%

July 12th, 2017
OTTAWA – The Bank of Canada has hiked its benchmark interest rate to 0.75 per cent from 0.5 per cent, its first increase in nearly seven years, amid expectations of stronger economic growth this year.Such a move is bound to increase the costs of mortgages, home equity lines of credit and other loans linked to the big bank prime rates. Both the Bank of Montreal (BMO) and the Bank of Nova Sco ...
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Tiny Homes

July 10th, 2017
Tiny Homes Detroit Featured on NowThis! NowThis News, one of Facebook’s most popular News/Media fan pages recently featured Tiny Homes Detroit in one of their original videos. The video received over 5 MILLION views in its first 24 hours! Watch the video below and click here to pre-order Rev. Fowler’s new book Tiny Homes in a Big City. First Tiny Home Opens Up The first Cass Communi ...
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Moodyville Has Converted 300 Small Homes into a Neighbourhood With About 2000 Units – With The Support of Most Residents

June 26th, 2017
Urban planners are increasingly using the term “gentle density,” to describe the attempt to increase the number of residents in established neighbourhoods, though often, there’s nothing gentle about the process of wholesale change. But North Vancouver seems to have pulled off a rare feat. It has converted an area of about 300 small detached homes into a mixed-use, multifamily passive-housing ...
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BC Home Sales to Exceed 100,000 Units for Third Consecutive Year: BCREA 2017 Second Quarter Housing Forecast

June 19th, 2017
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Amidst Housing Crunch, Vancouver has 800,000 Empty Bedrooms

May 18th, 2017
JEN ST. DENIS/METRO The nest is empty — but many baby boomers are staying in their homes for a range of reasons, says Michael Geller, a Vancouver architect and real estate developer. By: Jen St. Denis Metro Published on Wed May 17 2017 In Vancouver, it’s not uncommon to hear of young families raising two toddlers in a one-bedroom apartment and at a loss to find a larger place the ...
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Vancouver Home Price Increases Spread To Surrounding Areas At Measurable Rate

May 11th, 2017
Row houses in Richmond. A 1% increase in home prices in Vancouver has been shown to cause a 0.45% jump in prices in Richmond and Burnaby, according to the CMHC | Shutterstock It is no secret that when home prices go up in the City of Vancouver, prices in other municipalities across the Lower Mainland will also grow. According to a new report from the Canada Mortgage and Housing Corporation ...
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Vancouver’s Presale Condo Market Reaches Fever Pitch

April 21st, 2017
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 co ...
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Repeat Sales Prices of Single-Family Homes Increase in March

April 12th, 2017
Repeat home sales prices increased 0.85% across Metro Vancouver in March, according to the Teranet House Price Index, which measures price changes for repeat sales of single-family homes. This increase comes after growth of 1.43% in February and 0.3% in January. “Vancouver prices were up in each of the first three months of 2017 – a total of 2.6% – after slipping a total of 2.8% in th ...
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Mortgage Brokers Lobby To Lower Stress-Test Level

March 31st, 2017
Recently representatives of Mortgage Professionals Canada met with dozens of members of Parliament and senior government officials to discuss housing affordability, availability and accessibility, and to outline concerns about the government’s changes to mortgage qualification rules that were introduced last fall. “I am extremely pleased that there is a real sense that members of Parliamen ...
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B.C. Billionaire Jim Pattison Donates $75m For Medical Centre

March 29th, 2017
Jim Pattison, the CEO of the Jim Pattison Group, has donated $75 million to the St. Paul’s Foundation for the building of the new St. Paul’s at the Jim Pattison Medical Centre. According to the foundation, this was the largest donation by a private citizen to a single medical facility ever seen in Canada. “Jim Pattison’s gift will help us realize an exceptionally rare opportunity to build a ...
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NDP Would Expand B.C.’s Foreign Buyer Tax

March 29th, 2017
If you think the BC Liberals got tough on foreign buyers last year, get ready for an even rougher ride for foreign nationals buying B.C. homes if the BC NDP wins the May 9 provincial election. On August 2, the Liberals slapped a 15% foreign-buyer tax on resale home purchases in Metro Vancouver, a move largely blamed for a subsequent collapse of detached house sales, which immediately plunged ...
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Vancouver Real Estate Sales Remain Cool: BCREA

March 24th, 2017
The real estate market in Vancouver has not picked up any steam since it slowed down in the middle of 2016 in part due to a foreign-buyer tax introduced in August. A total of 2,461 units were sold in February, which is down 42% year-over-year from 4,254 units sold in the same month last year. The total dollar volume of sales fell almost 48%, from almost $4.7 billion last year to less than $2 ...
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Separation Of Church And Real Estate

March 24th, 2017
A small church in Vancouver’s Mount Pleasant neighbourhood is attracting a lot of visitors this April, but most will be drawn by something other than the Holy Spirit. Like at least a score of other Vancouver churches, the Bethlehem Lutheran Church near Main Street and East 15th Avenue has been put up for sale. Submissions to purchase are being accepted. No formal price has been set for the p ...
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Greater Vancouver Condo Prices Rise Despite Tumbling Sales

March 23rd, 2017
Prices for condos and townhomes are climbing in Greater Vancouver, despite tumbling sales. Sales of detached houses, condos and townhomes fell to 2,425 transactions last month, down 41.9 per cent when compared with 4,172 deals a year earlier – a record high for the month of February. Total sales volume last month rang in 7.7 per cent under the 10-year February average. But the number of res ...
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Change In B.C. Strata Law Has Unintended Consequences

March 22nd, 2017
This is Part 2 of a two-part series. Part 1 focused on why the B.C. government changed the law to make it easier to wind up strata corporations and what the result has been. To read that, click here. When the B.C. government changed the law last year to make it easier for condominium owners to group together to sell their complexes, it inadvertently gave life to a second, and controversial, ...
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16 B.C. Grocery Stores Now Sell Wine On Shelves

March 21st, 2017
The slow rollout of wine on grocery store shelves progressed a bit March 17 with Real Canadian Superstore launching sales of B.C. wine at its Langley and Langford grocery stores. That makes 16 grocery stores in the province that have started to sell B.C. wine on shelves since April 1, 2015, when B.C. law changed to allow such sales. The Langley and Langford stores are the fourth and fifth R ...
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Organic Growth Good For Small Farm Survival: UBC Study

March 21st, 2017
Hewing to a strict organic food diet can increase your grocery bill by up to 50% and might have only marginal increased health benefits, according to a new study published in Science Advances by two researchers at the University of British Columbia (UBC). And while there are some environmental benefits to organic farming, there can also be negative impacts. But there are two important socio ...
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2 Big Banks Raise Alarm Over Toronto Housing 'Bubble'

March 21st, 2017
Two big banks are waving red flags about Toronto housing prices, calling them "simply unsustainable" and a "bubble" in separate reports. The Canadian Real Estate Association said this week that average house prices across the Greater Toronto Area hit $727,300 in February, a figure that has risen by more than 23 per cent in the past year. The group said hot activity in and around Canada's l ...
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BCREA Housing Market Update (March 2017)

March 17th, 2017
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the February 2017 statistics. References:bcrea.bc.ca
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'This Is Vancouver Deja-Vu': How Seattle's Housing Market Is Making Way For Foreign Buyers

March 13th, 2017
It's been six months since the provincial government introduced a foreign buyers tax to cool the hot housing market — and scores of Seattle Realtors have been taking advantage ever since. In the months following the introduction of the landmark policy, business down south has been booming at a near exponential rate, according to Seattle real estate broker Dean Jones. "We have networks wit ...
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Ambleside Farmers’ Market On The Move: New Home For Food Vendors At Entrance To Ambleside Park

March 13th, 2017
The Ambleside Artisan Farmers’ Market can start putting down roots in the neighbourhood it is named after. District of West Vancouver council voted Monday night to move the market to the parking lot off Argyle Avenue at the entrance to Ambleside Park. The district had been looking for a new temporary home for the market after business owners, residents and cyclists grew weary of the weekly ...
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City Considering Allowing Character Houses To Be Converted To Multi-Unit Homes

March 8th, 2017
The city is considering allowing property owners who choose not to demolish character homes the right to increase their floor area and convert the property into a multi-unit residence. It's an idea that has emerged from the city's review of how it can best protect character homes in single-family neighbourhoods while increasing potentially affordable housing options. "We heard from a lot of ...
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Canada Named 2nd Best Country In The World…Again, Report Finds

March 7th, 2017
This may sound like a broken record but Canada has been named the second best country in the world yet again. For a second year in a row, the Great White North was ranked second in the annual “Best Countries” survey from the U.S. News & World Report, in conjunction with Young & Rubicam BAV Consulting and the Wharton School of the University of Pennsylvania. Switzerland edged out Canada fo ...
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Vancouver Considers Allowing Laneway Houses To Be Stratified For First-Time Buyers

March 7th, 2017
In an attempt to add more affordable housing for families in a very expensive city, Vancouver may allow laneway houses to be stratified for first-time homebuyers, says the city’s chief planner. It’s part of a suite of options the city is looking at when it comes to densifying single family neighbourhoods, many of which lost hundreds of residents in the past five years because families can no ...
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Vancouver Looks To Increase Number Of Townhomes, Row Houses, Duplexes

March 3rd, 2017
Changes will be coming to single-family home neighbourhoods in Vancouver to accommodate more affordable forms of housing, Mayor Gregor Robertson announced this week. In a speech to a crowd of about 300 developers and business people at the Pinnacle Hotel downtown, Robertson said the "time is right to advance a conversation" about how the city can create more affordable housing while still pr ...
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Proposed Lawsuit Says B.C.’s Foreign-Buyer Tax Violates Canada’s Charter

March 3rd, 2017
British Columbia’s 15-per-cent tax on foreign home buyers violates Canada’s Charter of Rights and Freedoms and “perpetuates prejudice and stereotyping on the basis of national origin,” says the plaintiff in a proposed class-action lawsuit. The lawsuit, which still must be certified, was first filed in September by Jing Li, a Chinese citizen who moved to Canada in 2013 and earned a master’s d ...
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North Vancouver City Council Triples Homes Per Lot

March 2nd, 2017
You’re once, twice, three times more likely to find a residence on a single-family lot following the City of North Vancouver’s decision Monday. But while council was unanimous in deciding to allow a home, secondary suite and a coach house on every single-family lot in the city, there was a little dissension on the move to require two parking spots. “If you have a coach house, a house, and ...
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What Toronto's Average Monthly Rent of $1,800 Gets You in Cities Canada-Wide

March 1st, 2017
As part of CBC Toronto's No Fixed Address series on renting and buying in Toronto, we scoured several popular rental listing sites to see what Toronto's average monthly rent gets you in Canada's major cities. (ViewIt/Kijiji/CBC) If you are forking out $1,800 for a one-bedroom condo apartment in Toronto — a touch over what the Toronto Real Estate Board says is the average monthly rent i ...
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OPEN HOUSES TODAY!!

March 1st, 2017
5818 Eagle IslandAll three @ 10:00-1:00 pm. Refreshments too!
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How Principal-Residence Tax Changes Will Affect Every Canadian Homeowner

February 28th, 2017
Earlier this week, Finance Minister Bill Morneau introduced tax changes that were aimed primarily at foreign investors in Canadian real estate to ensure they abide by our existing tax rules. But the changes also catch many Canadian residents who, in the past, have often inadvertently escaped paying tax on their principal residences. The tax rules around principal residences are so complex th ...
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Condo Owners Cash Out With $51 Million Project Sale

February 24th, 2017
Owners of a 114-unit condominium project in North Vancouver have become among the first in B.C. to secure court approval to sell their entire complex to a developer. The BC Supreme Court approved Anthem Properties’ $51 million bid for the 6.5-acre Seymour Estates project on Lytton Street in North Vancouver district in December. The transaction closed in late January. Justice Lisa Warren not ...
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'Feeling Squeezed Out': Will a Move to Save Vancouver's Housing Past Compromise it's Future? - British Columbia - CBC News

February 20th, 2017
About 1,000 homes are torn down every year in Vancouver. At least two-thirds of them were built before 1940. (CBC) In a city where "bulldozer-bait" homes can fetch close to $3 million, Vancouver's chief planner is faced with a choice that could shape the city for decades to come.   Are up to 12,000 pre-1940 homes — an immense swath of the city's housing supply — worth preserving ...
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BCREA Housing Market Update (February 2017)

February 17th, 2017
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the January 2017 statistics.
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Please Assist - Ambleside & Dundarave Business Improvement Association (ABDIA)

February 16th, 2017
The ADBIA is undertaking an extensive Wayfinding study in order to investigate and produce map and sign designs for the ADBIA area.The ADBIA Wayfinding work is designed to :1.      Raise awareness of ADBIA businesses in print and on web;2.      Improve the walking connections from the seaside;3.      Guide visitors to parking;4.      Increase visitor length of stay;5.      Consider the role of pu ...
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Average Vancouver One-Bedroom Rent Reaches Record High: PadMapper

February 16th, 2017
The average rent for a one-bedroom apartment in Vancouver remains the highest in the country, and it increased another 1.6% in February, reaching the highest level on record. Vancouverites are, on average, paying $1,900 for a one-bedroom unit, according to PadMapper. The increase comes in spite of a drop in average home prices across the city; the British Columbia Real Estate Association F ...
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January 2017 Market Update Video

February 14th, 2017
REBGV President Dan Morrison gives a quick overview of the January 2017 housing market. References: rebgv.org
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Province To Lift Foreign Buyers Tax For Those Who Live in B.C., Have Work Permits | CTV Vancouver News

January 30th, 2017
The 15 per cent foreign buyers tax introduced by the provincial Liberals as a way to cool off British Columbia’s record-breaking housing market will soon be lifted for people who hold work permits and are paying taxes, according to Premier Christy Clark. The announcement came during an impromptu reporters scrum before Sunday’s Lunar New Year Parade in Vancouver’s Chinatown. “We believe the ...
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Vancouver Sun ePaper

January 19th, 2017
It would be easier to op­pose devel­op­ment and pre­tend Van­cou­ver is some­how im­mune to mar­ket con­di­tions, chang­ing de­mo­graph­ics and in­ter­na­tional in­vestors. But the right thing to do is to find ac­cept­able so­lu­tions to the hous­ing chal­lenge, so­lu­tions that fit every­one in our com­mu­nity. It’s up to all of us to open our minds and en­vi­sion a bet­ter Van­cou­ver, a ci ...
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Home Owner Grant Threshold Increases In 2016

January 10th, 2017
British Columbians who own homes valued up to $1.2 million may be eligible to receive a full home owner grant this year, while a partial grant may be available if the home is valued above this threshold. The home owner grant provides modest property tax relief to those who need it most. Last year, this program returned nearly $800 million to B.C. residents. For 2016, more than 91% of homes ...
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Five Things To Know After Receiving A Massive Increase In Your 2017 B.C. Property Assessment

January 9th, 2017
Now that Lower Mainland homeowners have their 2017 property assessments in hand they may have lingering questions about how those values soared so high — single-family homeowners typically saw increases of 30 to 50 per cent — and what to do if they disagree with the results. Below are five things you should know about your property assessment and how to dispute what you think is inaccurate. ...
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Greater Vancouver home assessments jump 20-50% in 2017: BC Assessment

January 5th, 2017
BC Assessment has published its 2017 property value data online, and homeowners across Greater Vancouver have found their residences are being assessed at rates that are considerably higher than they were a year ago. The values reflect market value as of July 1, 2016. The total value of all property in Greater Vancouver has been assessed at $825.2 billion; this is a 29.7% increase from $636. ...
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Foreign-Buyer Tax Won’t Stop Chinese Investment in Vancouver

January 5th, 2017
This past July, the British Columbia government unexpectedly slapped a 15% tax on any foreign national buying real estate in Metro Vancouver. This sudden move was designed to dampen the market for the steady inflow of offshore money – mainly Chinese – that has been blamed for Vancouver’s red-hot real estate market. Some have speculated that Premier Christy Clark, who is running for re-electi ...
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B.C. Government Launching Downpayment Loan Program For First-Time Home Buyers

December 15th, 2016
First-time homebuyers will soon be able to access 25-year downpayment loans of up to $37,500, or 5% of the purchase price, that are interest-free—and payment-free—for the first five years. B.C. Premier Christy Clark announced December 15 the provincial government is investing $703 million over the next three years to fund the program, which will be carried out by the B.C. Home Owner Mortgage ...
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REBGV November 2016 Market Update Video

December 14th, 2016
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Decision - December 7, 2016

December 7th, 2016
The Bank of Canada announced this morning that it is holding the target for its overnight rate at 0.5 per cent. In the press release accompanying the interest rate decision, the Bank noted that uncertainty in the global economy is undiminished in recent months while Canadian economic growth is evolving as anticipated. On inflation, the Bank cited that although CPI and core inflation have pick ...
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Vancouver’s Housing Mess: Could It Happen Here?

December 6th, 2016
Listen up, Seattle: That rushing noise you hear to the north? It’s the sound of capital gushing out of Vancouver’s collapsing housing market. Home sales have plummeted. New condos and mega-mansions sit empty. Foreign investors are departing. Even real estate pros are battening the hatches. Only three months ago, the British Columbia Real Estate Association forecasted a rosy 5.8 percent price ...
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BC Commercial Leading Indicator Continues to Push Higher

December 5th, 2016
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Why Your Website Needs a Automatic Data Feed of New Listings (Step 3 in creating a Farm Area website)

November 30th, 2016
When creating a successful niche website, it needs LISTINGS. Step 3: Why Your Website Needs a Automatic Data Feed of New Listings When building a “niche” or “farm area” real estate website, ensure that you can get the data feed of listings for that specific target area onto the website th ...
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Demand for Land and Industrial Properties Lead a Steady Third Quarter for Commercial Real Estate in the Lower Mainland

November 29th, 2016
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BC Home Sales to Decline in 2017 from Record Pace: BCREA 2016 Fourth Quarter Housing Forecast

November 29th, 2016
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REBGV October 2016 Market Update Video

November 10th, 2016
President-Elect Jill Oudil provides a summary of the October housing market statistics. This month, we look at the key events and factors impacting housing trends today.
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Vancouver Presale Market Strong, Attracting Interest of Foreign Buyers

November 9th, 2016
Sales are stalled and prices are wobbling in the resale sector of Vancouver’s real estate market, as part of both a general slowdown and also uncertainty in the wake of a new property tax for foreign buyers. But things couldn’t be more different in the region’s presale market for apartments and townhouses, where units in most projects are flying off the shelves and non-resident buyers are st ...
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Council Update #12 - By-Election & Updates

November 1st, 2016
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No One Saw Tesla’s Solar Roof Coming

October 31st, 2016
Tesla's Sexy Solar, Massive Batteries, and Fast Cars. On Friday evening as the sun descended over the old Hollywood set of “Desperate Housewives,” Elon Musk took to a stage and fired up his presentation about climate change. It was a strange scene, with hundreds of people crowded into the middle of a subtly artificial suburban neighborhood. It wasn’t until about a minute into the speech that ...
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Three benefits of using a family trust for your business

October 26th, 2016
Establishing one might save you tax It’s a fact: family trusts can be complicated. You need to get proper legal and tax advice from your team of professionals before deciding to use one. But when trusts are established as a company shareholder, they can offer some distinct benefits. A family trust can provide potential income-splitting opportunities, help reduce tax owed on capital ...
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Capital flight

October 24th, 2016
Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence. Such events could be an increase in taxes on capital or capital holders or the government of the country defaultingon its debt that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidenc ...
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When foreign buyers abandon Canadian housing: Don Pittis

October 24th, 2016
Overseas money could change its mind quickly on Canadian real estate and pull down prices A housing development south of Vancouver, where anecdotal evidence indicates foreign investors have helped push property prices higher. But as Don Pittis says, poor data on how much of the investment in Canadian real estate is 'hot money' means we may be unprepared when foreign investment slows ...
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REBGV September 2016 Market Update Video

October 18th, 2016
Home buyers and sellers face changing market dynamics. REBGV President Dan Morrison gives a quick summary of this month's housing events.
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BCREA ECONOMICS NOW: Federal Government Changes to Mortgage Insurance Rules - October 3, 2016

October 4th, 2016
The Federal Government announced significant changes to regulations for new-government backed insured mortgages today. Effective October 17, 2016, all insured homebuyers will have to qualify at the posted 5-year qualifying rate.  This is a change from previous policy where only variable rate mortgages and mortgages with terms less than 5-years were subject to a higher qualifying rate. With t ...
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Feds Close Capital Gains Tax Loophole For Foreign Real Estate Buyers | Real Estate | Business in Vancouver

October 4th, 2016
Non-residents will no longer be able to avoid capital gains taxes on home sales by declaring them as their principal residences. This is one of the changes announced October 3 by the federal government’s Minister of Finance Bill Morneau as part of new initiatives meant to cool housing markets in such cities as Vancouver and Toronto. “This move, combined with B.C.’s new property tax on for ...
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Calgary Office Vacancy Rates Nearing 25 Per Cent, Topping Highs Set in 1980s Recession | Financial Post

October 4th, 2016
CALGARY – Vacancy rates in downtown Calgary, hard hit by the prolonged oil slump and already at historic highs, could be heading to 25 per cent, including in some of the city’s most posh skyscrapers, new reports show. An office report from Barclay Street Real Estate pegs the city’s current downtown vacancy rate at 22.1 per cent, but notes that skyscrapers still under construction could push ...
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Sold in 2013, Why Was This Home Counted as an August 2016 Sale by Vancouver’s Real Estate Board?

September 30th, 2016
With the imposition of a 15% tax on sales to foreign buyers in Vancouver on August 2, the local real estate board’s statistics have never been more closely watched. Realtors, buyers, sellers and journalists alike pored over the August numbers, released on September 2. The Real Estate Board of Greater Vancouver (REBGV) announced there had been 2,489 sales in August, a 26% decline compared ...
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Seattle Housing Market White Hot With Chinese Demand as Vancouver's Market Freezes

September 15th, 2016
Mainland China buyers seeking to invest overseas are fleeing Vancouver and flooding Seattle. Figures prepared for Postmedia by Juwai.com, a popular website in China that connects investors with international home sellers and real estate agents, shows buying inquiries for Vancouver property from investors in Mainland China dropped 81 per cent in August after B.C.’s government introduced a M ...
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Vancouver Readies To Enact Tax on Empty Homes

September 14th, 2016
Vancouver’s long discussed tax on empty homes is inching closer to reality. Vancouver Mayor Gregor Robertson held a September 14 press conference to discuss the tax, which Vancouver city council is expected to discuss and enact next week. The tax would be on empty and “underutilized” homes and be in place by the end of the year. The tax rate is yet to be determined although staff earlier ...
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BCREA Housing Market Update (September 2016)

September 14th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the August 2016 statistics.References: www.bcrea.bc.ca
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Luxury home sales have slowed but are expected to normalize: Sotheby’s

September 14th, 2016
The introduction of a 15% foreign buyers tax this summer has led to a slowdown in Vancouver’s luxury home market, but the effects will likely be temporary, according to a Sotheby’s report released September 14. The number of single family homes over $1 million sold fell 30% year-over-year in July, to 193 units. In August, they fell 65% to 95 units. For single family homes over $4 million, Ju ...
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REBGV August 2016 Market Update Video

September 12th, 2016
REBGV President Dan Morrison gives an overview of the August 2016 housing market for Metro Vancouver. In the second half, Dan examines the changing home price trends in the region.
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Raising Concerns About Economy, Bank of Canada Keeps Key Interest Rate Unchanged at 0.5%

September 9th, 2016
OTTAWA – The Bank of Canada struck a note of caution Wednesday as it held its key interest rate target steady at 0.5 per cent and raised concerns after the export sector disappointed earlier this year. “While the strength in exports during July was encouraging, the ground lost over previous months raises the possibility that the profile for economic activity will be somewhat lower than antic ...
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Vancouver Presales Figures Breaking Records Despite Softening in Real Estate Market

September 9th, 2016
Presales of brand new condos in Vancouver have never been stronger, even as recent figures show a slump in real estate sales in the wake of B.C.’s new 15 per cent tax on foreign buyers. Almost all of the presale units in projects under construction downtown are spoken for and sales so far this year have broken records, according to developers. Industry watchers say it’s too soon to tell when ...
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BCREA Economics Now: Bank of Canada Interest Rate Announcement - September 7, 2016

September 9th, 2016
The Bank of Canada announced this morning that it is holding its target for the overnight interest rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that weaker than expected growth in the global economy, and in particular in the US economy, has hurt Canadian exports and business investment in the first half of the year. On inflation, the Bank noted that tot ...
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A Video Message from BCREA President Deanna Horn Regarding the Association's Response to the IAG Recommendations

September 7th, 2016
BCREA President Deanna Horn gives an update on what BCREA is doing about the IAG recommendations made earlier this year and how REALTORS’® concerns are being heard.
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Strong BC Economy Fuels Growth in Commercial Real Estate

August 31st, 2016
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REBGV July 2016 Market Update video

August 15th, 2016
REBGV President Dan Morrison covers the July 2016 housing market statistics and discusses the home sale trends that have been receiving so much attention in our region.
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BCREA Housing Market Update (August 2016)

August 15th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the July 2016 statistics.
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REALTOR® News in 90 Seconds - August 10, 2016

August 11th, 2016
References: http://www.rebgv.ca/content/rebgv/en/newsletter/realtor-news-august-09-2016.html
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BCREA ECONOMICS NOW Canadian Housing Starts - August 9, 2016

August 9th, 2016
Canadian housing starts declined 9 per cent in July to 198,847 total units at a seasonally adjusted annual rate (SAAR) following a jump in construction activity in June. The six-month trend in Canadian housing starts moved slightly higher to just over 201,000 units, slightly above average annual growth in Canadian households. Housing starts in BC also declined, but were still a very robust 4 ...
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The World's Most Expensive Homes on the Market Now

August 5th, 2016
Even in the pre-crash era, when real estate prices were surging, nine-figure deals for properties seemed outlandish. Then beginning in 2015, with ultra-luxury sales on the decline (see: international market volatility and more scrutiny of cash buys) and homes in the seven and eight figures languishing on the market for twice as long as the year before, as well as undergoing price cuts, their ...
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Nearby Recreational Markets Dodge Foreign Buyer Levy

August 5th, 2016
Two top recreational markets close to Metro Vancouver are exempt from B.C.’s controversial 15% foreign buyer tax that covers the metro regional district. And that could be good news for the Sunshine Coast and Squamish, which have both seen a spike in offshore buyers in the past few years.  The two housing markets are included in the Real Estate Board of Greater Vancouver but are outside th ...
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Rental Apartment Buildings Included in Foreign Tax

August 4th, 2016
Sales of Metro Vancouver multi-family rental buildings, while designated as a commercial real estate transaction by the Real Estate Board of Greater Vancouver (REBGV), will be exposed to B.C.’s new 15% foreign buyer tax on residential purchases, the Finance Ministry has confirmed. Speculative purchases of commercial land where the aim is high-density residential development ...
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Metro Vancouver Home Sales Plunge In July

August 4th, 2016
Home sales in Metro Vancouver fell 18.9% in July, compared with the same month a year ago, and 26.7%, compared with June, according to statistics that the Real Estate Board of Greater Vancouver released August 3. Prices, however, continued to rise. A benchmark home in the region is now $930,400, or 32.6% more than a year ago. That price is 1.4% more than the $917,800 benchmark price in Jun ...
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BC Government Passes Foreign Buyer Tax; Ignores Calls To Exempt Signed Contracts

July 29th, 2016
The BC legislature passed legislation last night that institutes the foreign buyer tax. The legislation will take effect August 2, adding a 15 per cent surcharge to the Property Transfer Tax (PTT) for non-Canadian buyers.The tax applies at the point of registration at the Land Title Office, regardless of when the contract was signed. We issued this statement from REBGV President Dan Morrison ...
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BCREA ECONOMICS NOW: Canadian Monthly GDP (May 2016) - July 29, 2016

July 29th, 2016
The Canadian economy contracted 0.6 per cent in May, the largest decline in real GDP since March 2009. This decline was the result of a 22 per cent drop in output of the non-conventional oil extraction industry due to the Fort McMurray wildfire.  Excluding that decline, real GDP was down 0.1 per cent.  Given the large decline in May, second quarter real GDP growth could contract by more than ...
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Government to introduce a 15 per cent foreign buyer tax effective August 2

July 25th, 2016
Clarification on the foreign buyer tax We’ve had questions regarding who'll be exempt from this tax. You’ll be exempt from paying the new tax if you:• Are a Canadian citizen, even if you live abroad; or • Are legally classified as a “permanent resident” - someone who’s been given permanent resident status by immigrating to Canada, but is not a Canadian citizen. Permanent residents will have a ...
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This Australian Village Will Be Powered Entirely by Tesla

July 25th, 2016
The world’s first “Tesla town” is set to electrify Down Under. YarraBend—now rising in the Melbourne suburb of Kew, just four miles from the city’s central business district—will encompass a mix of single-family homes, townhouses, and apartments totaling 2,500 units, each equipped with energy-efficient lighting and appliances, a solar roof, and a built-in Tesla Powerwall.The Powerwall stores ...
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BCREA Economics Now: Canadian Housing Starts - July 11, 2016

July 11th, 2016
Canadian housing starts increased 17 per cent in June to 218,333 units at a seasonally adjusted annual rate (SAAR).   The six-month trend in Canadian housing starts of roughly 198,000 moved higher as well and is slightly above growth in Canadian households.  Housing starts in BC continued on a near record setting pace, up close to 40 per cent to 47,984 units SAAR. On a year-over-year basis, ...
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REBGV June 2016 Market Update Video

July 11th, 2016
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Revealed: The Best Places To Raise A Family, Be An Entrepreneur Or Retire, If You're A Global Butterfly

July 11th, 2016
The ancient fortified Luxembourg City Has Britain’s vote to leave the European Union put the kibosh on relocation to some of the most beautiful and cultural cities on the Continent? That was certainly one of the defining arguments of the Remain campaign. Brexit will stop our children from travelling freely to EU countries, drive up airfares and shut the door on exciting job opportunities, it ...
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Mixed Political Messages Over New Two-Lane Bridge in North Vancouver

July 7th, 2016
The completion schedule and cost of a new two-lane bridge over CN (TSX:CNR)  railway tracks to Kinder Morgan’s (NYSE:KMI) North Vancouver terminal was a point of confusion among two of the project funders on July 5. The Philip Avenue overpass, which opens to traffic today (July 6), was celebrated with the cutting of a banner that read “Completed,” instead of on time, on budget. A nearby s ...
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Chinese Buyers Of B.C. Real Estate In June Just 3%

July 7th, 2016
Only three per cent of the residential housing sales in a three-week period in June were to foreign investors, the bulk of whom were from China, according to new survey data released by the Ministry of Finance. For the first time ever, the B.C. government has been able to provide hard data on how much Vancouver’s red hot housing market is being stoked by foreign investment. In June, the gov ...
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Vancouver Home Sales Hit Third Consecutive Monthly Decline

July 5th, 2016
Vancouver’s hot real estate market showed some signs of abating in June, when homeowners sold a total of 4,400 residential properties. That’s the third consecutive month of declining sales and is about 15% fewer than the 5,173 sales that transacted in March. Prices, however, continue to rise. The benchmark Metro Vancouver home now costs $917,800, which is 32.1% more than June 2015 and is 3 ...
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Presidents Message: Advocating For You In The Media

July 1st, 2016
June 30, 2016 Advocating for you in the media What a week! I talk to REALTORS® daily. As a fellow Realtor, I hear your frustration and your concern that we’re being vilified in the press. We’d all like to point to one reason it’s occurring – and just fix it! As much as we’d like it to be, it’s just not that simple. Our profession’s reputation is tak ...
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A Letter From BCREA President Deanna Horn Regarding IAG Report and Premier's Announcement

July 1st, 2016
Dear members, On June 28, the Real Estate Council of British Columbia’s Independent Advisory Group (IAG) released its final report examining the regulatory framework for real estate in BC. The IAG’s 28 recommendations cover four areas of focus: transparency and ethics; compliance and consequences; governance and structure; and licensee and public education. It is important to note that thes ...
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A Quick, Three-Day Summer Detox

July 1st, 2016
There’s always a lot of talk about getting the perfect bikini body (whatever that means) this time of year, and while sure, looking hot in a two-piece can be a powerful motivator, the primary reason we wanted to do a quickie detox was to get our sugar cravings, and subsequently, our energy levels, in check, and generally rid ourselves of some not-so-great eating habits we’ve picked up long ...
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Land-locked region: Is geography a factor in Vancouver's affordability crisis?

July 1st, 2016
Affordability is such a hot topic in Vancouver right now, one that affects everyone in the city. But we’re sick of repeating the same old stories about rising house prices. We don’t just want to keep telling you that it’s happening, we want to find out why it’s happening and what can be done to tackle it. Vancouver Affordability Series Part 1: How Vancouver got so expensive and what you c ...
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BCREA Supports Public Protection and Consumer Confidence

June 30th, 2016
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Real Estate Board Supports Its Members

June 30th, 2016
June 30, 2016 - The government’s acceptance of the 28 recommendations made by the Real Estate Council of BC’s Independent Advisory Group is a positive development for the real estate profession. Many of the recommendations address issues that the Real Estate Board of Greater Vancouver (REBGV) has long advocated for, with the support of our members. We believe the proposed changes are progress ...
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Realtor News June 28, 2016

June 30th, 2016
Featured News: Understanding the One Board initiative On December 6, we’ll hold a Special General Meeting for you to vote on whether your Board should amalgamate with BCREA and nine other real estate boards in the province. This is a large and complex initiative. We want to work with you to gain a common understanding of what an amalgamation would mean for you and the structure of organize ...
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Hawkers Wharf: Community-Focused Food Hub Opening in North Vancouver

June 24th, 2016
In the 1980s, Granville Island forever changed the food landscape of Vancouver. Sure, we were–and remain–a coastal region with access to fresh seafood and spoiled with agricultural land producing a cornucopia of the province and country’s fruits and vegetables–but suddenly our real, natural foodstuffs became the cornerstone of a destination. An experience. Visitors and locals alike continue t ...
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Brief Council Update - June 2016 - Ambleside Waterfront, Housing Affordability, Tree Bylaw, and More

June 17th, 2016
Hi Everyone,Here is a brief update on Council business — Ambleside Waterfront Concept Plan, Housing Affordability, and Tree Bylaw. Warm Regards,Mary-Ann BoothCouncillorDistrict of West Vancouver604-340-8490  View this email in your browser   1.  After an extensive community consultation process, and building ...
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BCREA Housing Market Update (June 2016)

June 16th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2016 statistics.
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REALTOR® News in 90 Seconds - June 14, 2016

June 15th, 2016
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Commercial Real Estate Sales Highest In Five Years

June 15th, 2016
Metro Vancouver commercial real estate sales had their most active quarter in five years, with 660 transactions across the Lower Mainland in the first three months of 2016, according to the Real Estate Board of Greater Vancouver (REBGV). That is up 26% from 524 sales in the same period in 2015, the REBGV noted. Those increased sales were also larger than in 2015. The total dollar value o ...
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REBGV May 2016 Stats Videocast

June 15th, 2016
REBGV President Dan Morrison reviews the May 2016 housing market statistics. He also takes a closer look at the differences in demand in today's market.
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Public Auction a New Twist in Greater Victoria’s Hot Real Estate Market

June 10th, 2016
A Rockland mansion built in 1910 is going up for live auction in what is an unusual method to sell a house in Greater Victoria. “We think we are going to have a nice crowd of people there,” said agent Andy Stephenson of Sotheby’s International Realty Canada. Anyone interested in the Samuel Maclure-designed strata property can view it in daily open houses from 4 p.m. to 6 p.m. The open hou ...
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Absentee Homeowner Tax Needed, According To Most British Columbians

June 10th, 2016
The majority of British Columbians are unhappy with how the provincial government is dealing with housing issues, saying not enough is being done. Eighty three per cent of B.C. residents and 82% of those in Metro Vancouver say a tax on absentee homeowners — those who buy homes in a city but don’t live in them — is a “good” or “very good” idea, according to the results of an Insights West pol ...
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Vancouver House Owners Made More Sitting On Their Assets Than The City’s Entire Population Did By Working Last Year

June 9th, 2016
Top-paying jobs aren’t easy to come by in the city of Vancouver, which partly explains its spiralling unaffordability. But there are at least 75,000 tireless workers here who last year made the incredible average rate of $126 per hour. Sadly, these workers are not among the city’s human inhabitants. They are its single-family homes. In fact, the quiet efforts of these houses (or, more accu ...
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Greater Vancouver Home Sales and Prices Soar 2016, says BCREA

June 3rd, 2016
Home sales in Greater Vancouver are on a hot streak, and the professional association representing all the real estate boards in the province is bumping up its forecast for 2016, predicting escalating prices and a jump in the number of homes sold. The British Columbia Real Estate Association forecasts unit sales in the Greater Vancouver region will increase 8.9% in 2016, from 43,145 homes ...
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Record Breaking Housing Demand Sweeps BC: BCREA 2016 Second Quarter Housing Forecast

June 2nd, 2016
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Realtor News, June 1, 2016

June 1st, 2016
The proposal to amalgamate the real estate boards of BC and BCREA is a historic initiative. Here are five things you need to know. 1.) You'll vote on this proposal later this year. Nothing will happen without your approval. The members of each Board will vote on whether to support the proposal. The exact wording of the motion you’ll vote on will be available soon. The plan is to have al ...
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Bank of Canada Holds Overnight Rate Steady at 0.5% But Issues More Cautious Forecast

May 27th, 2016
The overnight rate will remain at 0.5%, the Bank of Canada announced May 25, but economic conditions have become less certain than they were at the time of the previous rate announcement in April. Overall, the impact of the oil price slump is still being felt throughout the Canadian economy, but the effects have been “uneven,” the Bank said. Economic growth in 2016’s first quarter was in lin ...
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CLI Indicates Growing Activity in Commercial Real Estate

May 27th, 2016
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Condo Pre-sales Are Exempt From B.C.’s New Assignment Rules

May 27th, 2016
A housing sector that appears prime for flipping – pre-sale condominiums – is exempt from new B.C. legislation meant to restrict the sale of contract assignments and track foreign buyers in Metro Vancouver’s white-hot housing market.  Assigning one’s right to a contract is a legitimate practice. But, due to media reports that some realtors were flipping assignments secretly, the B.C. gover ...
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Sheryl Sandberg: ‘The lessons that I only learned in death’

May 17th, 2016
Sheryl Sandberg: ‘One year and 13 days ago, I lost my husband, Dave.’ (Scott Olson, Getty Images). Sheryl Sandberg’s commencement address to the University of California, Berkeley: Thank you, Marie. And thank you esteemed members of the faculty, proud parents, devoted friends, squirming siblings. Congratulations to all of you … and especially to the magnificent Berkeley graduating class of ...
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BCREA Housing Market Update (May 2016)

May 17th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the April 2016 statistics.
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Foot of Lonsdale Planning | City of North Vancouver

May 17th, 2016
The Foot of Lonsdale is undergoing major changes! Changes are underway on the Foot of Lonsdale to make way for a new public open space as well as the Presentation House Gallery’s new facility, to be named Polygon Gallery in honour of its lead donor. There are three main project components: Sub-Surface Upgrades Public Open Space Presentation House Gallery 1. Sub-Surface Upgrades Th ...
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Heritage Meets Sustainability In Unique Strathcona Project

May 16th, 2016
After selling their Strathcona home, Karli Gillespie and Dick Hellofs found themselves in search of the holy grail: an affordable house that had a heritage feel but operated in a sustainable manner. Having worked as developers on various small-scale renovation projects, the couple initially looked at the Edwardian home located at 666 Union Street and feared that renovating it would be too ...
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BC Home Sales Continue to Smash Record Book

May 13th, 2016
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REBGV April 2016 Market Update Video

May 11th, 2016
In this video, REBGV President Dan Morrison highlights the April statistics and explores how the supply of homes for sale is affecting today's market.
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New Rules On Flipping Introduced By BC As Of Next Week

May 11th, 2016
The government in British Columbia has introduced new rules that will apply to residential real estate contracts from next week. Premier Clark had promised in March to introduce new rules to prevent investors turning a fast buck by flipping.As of May 16, 2016 contracts must include a clause stating that if the contract is assigned without the seller’s written consent, then any profit made f ...
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Vancouver Housing Market Now Showing ‘Strong Evidence’ Of Overvaluation: CMHC

April 28th, 2016
As Vancouver’s housing market continues to heat up, the Canada Mortgage and Housing Corporation (CMHC) announced April 27 the city is now showing strong evidence of overvaluation. In the CMHC’s previous assessment, released in January, the organization had found moderate evidence of overvaluation. “Single detached home prices are higher than levels supported by economic fundamentals, and ...
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Gone in 7,200 seconds: the inside story of Vancouver’s wildest property deal

April 27th, 2016
It was in the fall last year that Bruno and Peter Wall received an offer too good to refuse. The prominent Vancouver property developers behind Wall Financial Corp. had spent $16.8 million to buy two aging Nelson Street walk-up apartment blocks on adjacent lots in 2013. They had big plans for the downtown site: a glittering 60-storey residential skyscraper, taking advantage of the location w ...
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Vancouver Realtor Deals With First Time Home Buyers - YouTube

April 27th, 2016
Thinking about buying a house in Vancouver? Looking for a mortgage? You should watch this first.References: https://m.youtube.com/watch?v=wcAMtvNfp78
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Major Projects Set To Transform Squamish

April 19th, 2016
Several major projects are poised to transform Squamish’s economy and fuel demand for homes in new developments slated for what was once a sleepy lumber town. Both the proposed ski resort Garibaldi at Squamish (GAS) and proposed liquefied natural gas (LNG) plant Woodfibre LNG received federal and provincial environmental approvals earlier this year. Those two projects each must clear a fe ...
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Don’t Expect Vancouver Real Estate To Cool Anytime Soon: Central 1

April 19th, 2016
The real estate market in Vancouver is going through the roof, and this is expected to continue through 2018, according to a Central 1 forecast released April 19. So far this year, Central 1 said, sales in Metro Vancouver alone have outperformed the credit union’s previous forecast, released in late 2015. Yu said sales will likely increase 22% across the region this year, while the median ...
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Announcement - April 13, 2016

April 13th, 2016
The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that although first quarter GDP growth appears unexpectedly strong, it believes that strength is temporary and will likely reverse in the second quarter. However, fiscal measures announced in the March federal budget are anticipate ...
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REBGV March 2016 Market Update Video

April 12th, 2016
Metro Vancouver home sales eclipsed 5,000 in March for the first time on record. President Dan Morrison gives a quick summary of the March housing record as well as a look at the ups and downs of market cycles.
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Mystery Buyer Revealed: Molson Brewery Bought By Concord Pacific For $185m

April 12th, 2016
The mystery has been solved: it was Concord Pacific, on Burrard Street, with $185 million. In November, Business in Vancouver reported that the Molson brewery had been sold for well over $100 million over asking price to an undisclosed buyer. At that time, rumour had it that the sale price was $185 million—a figure that has now been confirmed. The deal closed March 31. According to document ...
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Three B.C. First Nations Buy Provincial Jericho Lands For $480 Million

April 11th, 2016
Three British Columbia First Nations have signed a deal to acquire the provincial Jericho lands for $480 million, making them the owners and developers of arguably the most valuable real estate in the country. The agreement, which was reached April 8, involves the province transferring two parcels totalling 38.8 acres of ocean-view land overlooking Jericho Beach in West Point Grey to the thr ...
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In Vancouver, The Newer The Condo, The Higher The Percentage Of Foreign Ownership: CMHC

April 8th, 2016
There was a “significant increase” in the percentage of foreign owners of Vancouver condos between 2014 and 2015, according to the Canada Mortgage and Housing Corporation (CMHC), and new data shows that the percentage increases by a large margin for newer condos. Overall, the CMHC has found that 210,696 condo units in Vancouver had foreign owners in 2015, representing 3.5% of the total condo ...
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BCREA ECONOMICS NOW: Canadian Employment - April 8, 2016

April 8th, 2016
Employment in Canada surged higher in March after three months of flat job growth. Total employment increased by 41,000 jobs and the national unemployment dropped 0.2 points to 7.1 per cent. Total hours worked, which is closely associated with economic growth, increased by 1.2 per cent. Employment in BC grew by 9,000 jobs in March, including 5,500 full-time jobs. The provincial unemployment ...
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Realtor News, April 6, 2016

April 6th, 2016
President's Message: Swimming upstream in a media frenzy Media scrutiny of our profession remains intense. While your Board is talking with reporters daily, it can be difficult to stem the tide when some members are feeding the media frenzy. I began my term as your president about a week ago. In my first 24 hours on the job I did 15 media interviews. We’ve repeated our commitment many time ...
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Study Reveals Foreign Real Estate Investors Profile(with Infographic)

April 6th, 2016
While last week’s federal budget earmarked half a million dollars to study foreign real estate buyers, a private survey of offshore commercial investors has put some hard numbers on the table. Investors from China accounted for a 42% share of investments in Canadian commercial real estate in 2015’s second half, up from 5% in the same period a year earlier, according to Colliers Internation ...
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Watch Batman v Superman Reviews Take A Toll On Sad Ben Affleck

March 29th, 2016
I like Ben Affleck. Good Affleck, bad Affleck — I don't care. I like Reindeer Games. I loveShakespeare in Love. I don't like Clerks 2 or Runner Runner or Surviving Christmas, but I can make the most of them, similar to the way I use over-ripe bananas to make delicious banana bread. I do not wish to see Batman v Superman. It looks and sounds and smells like a movie so over-ripe, that it wi ...
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Pete McMartin: The Other Side Of The Housing Coin

March 23rd, 2016
A buddy has the most protracted commute I know of — his contract job takes him to an eastern U.S. Rust Belt state where, lucky man, he is paid handsomely in Yankee dollars. Every month he flies back here to spend time with his family. His dual life offers him a perspective he wouldn’t otherwise have, and on his trips back home, he reports on life in the Excited States of America. The recurri ...
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President Darcy McLeod Issues Letter To The Vancouver Sun

March 23rd, 2016
The following letter was issued to The Vancouver Sun for publication earlier today: Letter to the editor: I am concerned about information presented in Lori Culbert’s March 19 article “Flipping on the rise, but still a small portion of sales.” The article listed the “top 10 most lucrative house flips.” Our analysis through the MLS® system found that seven of these ten homes were not “flippe ...
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REBGV Letter To Premier Clark re: Proposed Assignment Rules

March 23rd, 2016
REBGV President Darcy McLeod sent the following letter to Premier Christy Clark in response to her announcementabout new rules for assignments:Dear Premier Clark,On behalf of the more than 12,500 Realtors that we represent, I am writing to express concern at your decision to pre-empt the Real Estate Council’s independent advisory group’s review and introduce new rules on assignment agreements ...
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B.C. Government Introduces New Shadow Flipping Rules

March 21st, 2016
The B.C. government is pledging to end a murky real estate practice that has become known "shadow flipping,” and will work with the mayor of Vancouver how to make housing in the city more affordable. New provincial rules will require the express consent of the seller and will require that any profits when assignment contracts change hands are returned to the home owner. The B.C. government i ...
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BC Homes Sales Sizzle at Record Pace

March 15th, 2016
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BCREA Housing Market Update (March 2016)

March 14th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the February 2016 statistics.
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Announcement - March 9, 2016

March 11th, 2016
The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is evolving as anticipated but that a weak economy will continue to dampen growth in consumer prices. Overall, the Bank judges that risks in the economy are roughly balanced, though financial vulnerabilities have inc ...
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5 Towers To Be Built On Top Of Old Canada Post Building In Downtown Vancouver

March 11th, 2016
Image: Musson Cattell Mackey Partnership / Bentall Kennedy The immense scale of the proposed mixed-use redevelopment of the old Canada Post processing building will accelerate the inevitable eastward expansion of downtown Vancouver’s dense urban core. B.C. Investment Management Corporation, the owner of the former post office property, has partnered with developer Bentall Kennedy and local ...
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REBGV February 2016 Market Update Video

March 11th, 2016
Metro Vancouver home buyers set a record pace in February. Watch for a summary of the February housing market and a look at what it means to be a home buyer in a seller's market.
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Foreign Speculation Hits Metro Commercial Real Estate

March 2nd, 2016
The sale of an aging, eight-unit rental apartment building in Burnaby’s Metrotown for $440,000 per suite in January underscored the ongoing speculative trend in Metro Vancouver’s residential rental market, which posted record sales of $1.3 billion last year. But the purchase of an old retail building on a 20,000-square-foot lot in Vancouver’s Marpole area in February for nearly $1,000 per ...
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Vancouver Home Sales Hit Record In February As Seller’s Market Persists

March 2nd, 2016
The number of homes sold in Metro Vancouver last month reached the highest level on record for a February, the Real Estate Board of Greater Vancouver announced March 2. A total of 4,172 homes were sold in the month, which represents an increase of 36.3% compared with February 2015. This was also 56% above the 10-year average for February sales. The benchmark price for all home types increa ...
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Realtor News February 23, 2016

February 23rd, 2016
Take a look as President Darcy McLeod addresses concerns surrounding assignment agreements. Our profession has been under the media’s spotlight for the last two weeks. That's when a newspaper article alleged that some REALTORS® are failing to disclose their interests and involvement in assignments. This issue has triggered an emotional response from the public and members. There’s a lot of ...
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One Chart Shows How Unprecedented Vancouver’s Real Estate Situation Is

February 23rd, 2016
There are plenty of studies, anecdotes and reports into just how unaffordable Vancouver’s real estate market has gotten recently. But the most obvious example of Vancouver’s spiraling real estate prices might just come from a monthly report that has existed for 39 years. The Real Estate Board of Greater Vancouver has been tracking the average price of all properties in their region – whic ...
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This Is San Francisco’s Plan to Get the 1 Percent to Pay Up - Bloomberg Business

February 19th, 2016
There’s a new target in San Francisco’s income inequality wars: luxury mansions. Jane Kim, a member of the city’s board of supervisors, is seeking to put a proposal before the voters in November that would increase transfer taxes on homes sold for more than $5 million, with properties worth more than $25 million incurring a minimum fee of $750,000 typically paid by the sellers. “There is a st ...
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Why The Wealthy Are Heavily Focused On Real Estate - The Globe and Mail

February 18th, 2016
With markets roiling in 2016 and commodities lingering in low-price limbo, the holdings of high-net-worth investors can serve as indicators of where the rest of us might consider parking our nest eggs. It turns out that a good chunk of wealthy peoples’ investments is in real estate. “Real estate is generally accepted as an alternative investment [by high-net-worth investors],” says Simon Joc ...
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B.C. Budget Offers Help To Buyers Of New Homes

February 18th, 2016
VICTORIA — Premier Christy Clark responded to intense public pressure to fix Metro Vancouver’s housing affordability crisis Tuesday with a budget that offered a tax break on new homes and the promise to start collecting data on foreign buyers. But real estate, business and academic experts say the modest changes will do little to spur new construction, slow price hikes or help most buy ...
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BCREA Housing Market Update (February 2016)

February 14th, 2016
BC Real Estate Association (BCREA) Economist Brendon Ogmundson discusses the January 2016 statistics.
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REBGV January 2016 Market Update Video

February 11th, 2016
REBGV President Darcy McLeod takes a look at the housing statistics for January 2016. In the REALTOR® View segment, we look at three key factors driving demand in todays's market.
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The Real Estate Technique Fuelling Vancouver's Housing Market

February 8th, 2016
They had a deal. The Rappaports’ home, on Vancouver’s West Side, would net the couple $5.2-million last year. Jo and her husband had bought the stately Craftsman home in 1987 for $362,000. They raised their sons there and loved it. But the neighbourhood had changed. Investors were razing the houses and it was time to move on. “It used to be the prettiest block,” Ms. Rappaport said. “And i ...
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Vancouver Slips To Be Third Least Affordable Housing Market In Nine Countries

January 27th, 2016
“The Demographia survey list of the least affordable metropolitan areas is largely echoed by UBS, the international financial services company headquartered in Switzerland,” the report noted. “The UBS Global Real Estate Bubble Index ranks London, Hong Kong, Sydney and Vancouver as most vulnerable to risk from a real estate bubble.”Demographia provided data for 367 housing markets in Austra ...
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Public Consultation Set For Proposed Tower That Could Transform Georgia Street

January 27th, 2016
Bosa Properties and Kingswood Properties are holding an open house February 4 to get input from the public on plans to build a 50-storey iconic building in the plaza next to an equally distinctive 38-year-old, green-glass building at 1500 West Georgia Street. The session will take place at the Empire Landmark Hotel at 1400 Robson Street between 5 p.m. and 7:30 p.m. Designs for the tower w ...
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REALTOR® News in 90 Seconds - January 26, 2016

January 26th, 2016
Only five days left to vote in the 2016 REBGV election! If you haven't already, cast your vote before the polls close on Sunday, January 31.  Don't miss your chance to vote in our Board of Director and Area elections. Click here to review the candidates running in this year's election and cast your vote. It only takes a minute to complete. Online voting will be open until 11:59 p.m. on S ...
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A Mansion, A Shell Company And Resentment In Bel Air

January 20th, 2016
LOS ANGELES — The most notorious new house in Los Angeles hangs from a Bel Air hillside, high above the sprawl and smog, unfinished and unloved. Outraged neighbors call it “the Starship Enterprise,” and in truth it looks like nothing so much as an earthbound space station of curved glass and steel, draped in scaffolding and tarpaulin, roughly 30,000 square feet and nearly 70 feet high. Th ...
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Announcement - January 20, 2016

January 20th, 2016
The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is evolving as expected with total CPI continuing to test the bottom of the Bank's 1-3 per cent target range due to low energy prices. However, the Bank expects that inflation will rise over the next year, reaching i ...
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BCREA Housing Market Update (January 2016)

January 15th, 2016
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the December 2015 statistics.
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REBGV December 2015 Market Update Video

January 15th, 2016
REBGV President Darcy McLeod takes a look at the housing statistics for December 2015. In the REALTOR® View segment, we look back at the 2015 housing market.
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Value of Vancouver Home Sales Jumps 60% in December: BCREA

January 15th, 2016
A total of $2.85 billion in home sales was recorded in December in Greater Vancouver, according to data released January 15 by the British Columbia Real Estate Association. This is up 60.1% compared with December 2014 when a total of $1.78 billion in sales was recorded. This increase was related to growth in both the number of units sold and the average selling price per unit. A total of ...
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2016 Election Begins On January 15!

January 15th, 2016
Featured News Voting in our 2016 election begins January 15.Voting opens on Friday for our Board of Director and Area elections. At that time, we’ll send you a link to the voting website. Click here to review the candidate’s running in this year’s election. Online voting will be open from January 15 until January 31.   During the voting period, access to all of your election resources wi ...
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Vancouver Building Permit Values Climb To Record High In 2015

January 14th, 2016
2015 was another very active year for building intentions in Vancouver, building permit statistics released by the City of Vancouver show. Building permit values rose to $3.2 billion in 2015, a 14% increase from 2014 when values totaled $2.8 billion and a record for the city. 2014 was the first year values rose above the 2007 figure of $2.5 billion, a sign of recovery from the effect of th ...
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Small Businesses Brace For Property Assessment Fallout

January 8th, 2016
Jesse Cooper, project manager for Our Community Bikes, is focused on making more money. It’s top of mind after the 22-year-old organization was forced to move this summer because of a steep rent increase. The Main Street non-profit fixes bikes, sells new and used items and runs educational and employment programs. The move, which came during the high season, left a gaping hole in Our Commu ...
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Metro Vancouver Home Sales Set An All-Time Record In 2015

January 7th, 2016
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Vancouver Property Assessments Jump As High As 28% In 2015

January 7th, 2016
Assessed values of both Vancouver east and west side single-family properties climbed dramatically over the past year, according to B.C. Assessment. It released its annual assessment figures January 4 and it provided a few examples of some individual assessments including one for an East Side, single-family, 33-foot lot, which jumped by 28% from $993,000 to $1,267,000, and one for a West S ...
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Vancouver Homeowners See Massive Jump in Property Values

January 6th, 2016
Assessed values for single-family detached properties in large parts of Greater Vancouver have jumped at least 15 per cent over a one-year period as the region’s real estate market booms. The latest percentage gains for detached houses are among the highest in the past 35 years, from high-end properties to tear-downs where most of the value is in the land. In dollar terms, the changes are r ...
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U.S. Rate Hike Expected To Boost B.C. Exports And Vancouver Home Prices

December 16th, 2015
The United States Federal Reserve board has judged the economy to be strong enough to withstand an interest rate hike, and announced an increase 0.25-0.50% today. The Dow Jones Index was up in reaction to the news, while the Canadian dollar dropped slightly. Markets were widely expecting the move after various economic indicators showed the U.S. economy was finally gaining enough sustaine ...
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BCREA Housing Market Update (December 2015)

December 16th, 2015
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the November 2015 statistics.
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Ottawa Tightens Mortgage Rules, Takes Aim At Vancouver’s Hot Housing Market

December 16th, 2015
 The federal government is hoping changes to minimum down payments required for some homes will cool hot housing markets in Vancouver and Toronto. Finance Minister Bill Morneau announced Friday (December 11) the minimum down payment for a $500,000 home will remain at 5% but an additional 10% down payment will apply to anything beyond that. For example, a person buying a $1-million home woul ...
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BCREA ECONOMICS NOW: Canadian Government Change to Minimum Down Payment on Insured Mortgages

December 11th, 2015
The Canadian government announced today that it is increasing the minimum down payment on insured mortgages from 5 per cent to a two tiered system under which the minimum down payment on houses priced above $500,000 will remain at 5 per cent, but there will be an additional 10 per cent required on the portion of the house price above $500,000. As an example, for a house priced at $700,000, t ...
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REBGV November 2015 Market Update Video

December 11th, 2015
REBGV President Darcy McLeod gives a rundown of the November housing statistics for the Metro Vancouver area.
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Nominate Now: 2016 Influential Women In Business

December 4th, 2015
The Influential Women in Business Awards were created to draw attention to exceptional business women in BC and Business in Vancouver is once again seeking nominations for BC's most outstanding business women in private and public sector companies. Honourees are influential leaders in their industry and the business community at large. They help influence and shape policy at some of Canada's ...
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City Land On The Table In Viaduct Negotiations

December 4th, 2015
An 18-month negotiation process is underway as city staff work with landowners to prepare the ground for removing the Georgia and Dunsmuir street viaducts connecting downtown to East Vancouver. Vancouver council endorsed a staff report recommending removal of the viaducts on October 27, but before demolition begins the city needs to build bridges with the province, BC Pavilion Corp. (PavCo ...
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Greater Vancouver, Fraser Valley Housing Inventories Plunge as Sales Hit Record Highs

December 4th, 2015
As housing sales in Greater Vancouver and the Fraser Valley soared in November, listings of homes for sale plunged to near decade-lows. Total housing sales were up 40% in November through the MLS of the Real Estate Board of Greater Vancouver and jumped 55% from the same month a year ago through the Fraser Valley Real Estate Board (FVREB). Both boards posted the second-highest November sale ...
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Realtor News December 1,2015

December 3rd, 2015
References: http://www.rebgv.ca/content/rebgv/en/newsletter/realtor-news-december-1-2015.html
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Tax Tips and Traps!

December 3rd, 2015
Tax Tips & Traps - In This Edition: TAX TICKLERS - Some quick points to consider CRA USING SOCIAL MEDIA? GIFT CARDS FOR PROMOTIONAL PURPOSES:  Are they Fully Deductible?  BOOKS AND RECORDS: How Long Should I Keep my Documents? BLOGGER’S BUSINESS LOSSES: Personal or Commercial Venture? TFSA CONTRIBUTION ROOM: Cautions and Possibilities CRA COLLECTIONS: Watch Out! CHANGE TO THE FISCAL ...
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San Francisco's Most Expensive Home - Business Insider

December 2nd, 2015
Go inside the most expensive home in San Francisco, on the market for $28 million What does the most expensive house in one of America's most expensive cities look like? According to Curbed SF, 2250 Vallejo Street, a circa-1901 mansion-turned-contemporary dream home built on one of San Francisco's highest streets, just became the most expensive listing in the city. Meticulously refurbished ...
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Decision - December 2, 2015

December 2nd, 2015
The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is in line with its outlook with total CPI inflation near the bottom of the Bank's 1 to 3 per cent target range while core inflation remains close to 2 per cent.  On growth, the Bank cited ongoing and ...
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BCREA ECONOMICS NOW: Canadian Economic Growth (Q3'2015) - December 1, 2015

December 1st, 2015
The Canadian economy rebounded from a first half contraction, growing 2.3 per cent in the third quarter in spite of a slowdown in the month of September. Economic growth was led by a 2.3 per cent gain in exports of goods and services, more than four times the rate of export growth recorded in the second quarter. Household consumption rose 0.8 per cent and residential investment grew 0.6 per c ...
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AGENDAS & MINUTES

November 30th, 2015
Council welcomes community input and participation and encourages the public to attend Council meetings. Nov 2, 2015  Regular Meeting Confirmed 6:00 PM Regular Council meeting held in the Municipal Hall Council Chamber. Royal Canadian Legion West Vancouver Branch, regarding Veterans’ Week and Remembrance Day: Information presentation. Delegation - Alzheimer ...
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65-Unit Squamish Condo Development Sells Out In 90 Minutes

November 27th, 2015
The Lower Mainland’s real estate craze seems to have extended to Squamish, a mountain town in the midst of a major transformation. Earlier this month, in a span of just 90 minutes, a 65-unit, four-storey-tall wood frame development with prices ranging from $167,900 to $449,900 per unit was completely sold out – and even then, there were still plenty of people still waiting in line for a ch ...
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Developers Scramble To Meet Market Demand For Metro Townhomes

November 25th, 2015
Courting townhomes Mosaic Avenue Realty Ltd. has picked up a 7.1-acre development site in the Baycrest area of Burke Mountain in Coquitlam from Harwood Group for $15.3 million. Mosaic must rezone the site prior to starting construction, but Coquitlam planning documents allow approximately 115 townhomes on the site, making it a rare opportunity for developers. The exclusive nature of the o ...
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Vancouver Commercial Properties Cast International Shadow As Molson Brewery Fetches More than $100M Above Assessed Value

November 25th, 2015
With the number of downtown assets on the block this fall, competition for Vancouver real estate was bound to be hot. And it’s not just the cash-rich coffers of pension funds that are fuelling the action; it’s also savvy lenders who see a chance to reap a nice margin on their money. Burrard Street has been the epicentre of the sales action this fall, with landmarks including Bentall Centre ...
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Løkke i USA: Danmark er Langt fra en Socialistisk Stat

November 25th, 2015
Danmark er langt fra en planøkonomi, lød det fra den danske statsminister, da han forleden talte på amerikansk universitet. Af Troels Trier Danmark er på det seneste blevet fremhævet i den amerikanske debat i kampen om at blive USA's næste præsident. Især kandidaten Bernie Sanders, der kalder sig 'demokratisk socialist', har i sin kampagne opfordret til at søge inspiration i de skandinavisk ...
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BCREA Housing Market Update (November 2015)

November 18th, 2015
BC Real Estate Association (BCREA) Economist Brendon Ogmundson discusses the October 2015 statistics.
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Housing Demand To Ease But Remain Elevated In 2016: BCREA 2015 Fourth Quarter Housing Forecast

November 11th, 2015
Vancouver, BC – November 10, 2015. The British Columbia Real Estate Association (BCREA) released its 2015 Fourth Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are projected to surpass 100,000 units this year. This level of home sales will be the third strongest on record and mark the first year since 2007 that BC home sales exceed t ...
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Robust Housing Demand Continues in October

November 11th, 2015
Vancouver, BC – November 12, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 8,725 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, up 14.1 per cent from the same month last year. Total sales dollar volume was $5.8 billion, up 32.3 per cent compared to the previous year. The average MLS® residential price in the provin ...
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REBGV October 2015 Graphical Stat for West Vancouver

November 10th, 2015
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Sandbags Lined Up on Vancouver's Locarno Beach to Prepare for King Tides

November 10th, 2015
Crews with the City of Vancouver have lined a 200-metre stretch of Locarno Beach with tens of thousands of sandbags to prevent low-lying homes from being flooded by record high king tides beginning this week. The two-foot high wall of sandbags lines Northwest Marine Drive from Trimble to Tolmie streets. It acts as a preventative measure in the event that high tides coincide with storm surges ...
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REBGV October 2015 Graphical Stat for North Vancouver

November 10th, 2015
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14 Great Dogs Looking for a Home in Vancouver

November 10th, 2015
There’s no doubt about it: Vancouver loves its dogs. If you want proof, look at what happened ahead of the November 7 mass dog adoption, when more than 100 small-breed death-row dogs were flown from California to YVR. Dozens of would-be pet parents were turned away after Thank Dog I Am Out received hundreds upon hundreds of applicants for its dogs. Well, have no fear. There is no shortage ...
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REBGV October 2015 Market Update Video

November 10th, 2015
An overview of the housing statistics for October 2015 in the Greater Vancouver area. Also, REBGV President Darcy McLeod discusses elevated home sale trends.
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Controversial Foreign Ownership Study Is About Money — Not Race: Vancouver Planner

November 9th, 2015
“Money is no longer connected to what you do and where you live” Andy Yan’s study of 172 multimillion-dollar homes in Vancouver’s Dunbar neighbourhood touched a nerve earlier this week. To some, it was definitive proof that Vancouver’s real estate market is being driven by money from mainland China. To others, it was an example of local media’s obsession with a racially-charged narrative th ...
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This Is Your Office, If Ex-Goldman Twins Get Their Way

October 23rd, 2015
'Healthy buildings' make happy workers, they say. The pitch could make them a fortune, if their bet on wellness in real estate pans out.Last October a New York startup called Delos, founded by twin brothers who were once partners at Goldman Sachs, published what may be the most marketable proposition in real estate short of a front lawn overlooking the Fountain of Youth. It's a manual they c ...
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Decision - October 21, 2015

October 21st, 2015
The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is evolving in line with the Bank's outlook, though total inflation remains near the bottom of the Bank's 1 to 3 per cent target range.  Removing the impact of low oil prices and other temporary factor ...
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Vancouver Home Sales Dip 10% in September: CREA

October 16th, 2015
While the real estate market in Greater Vancouver remains one of the strongest in the country, September saw the city’s residential sales cool somewhat, according to new Canadian Real Estate Association data released October 15. The total dollar sales volume in the month was just over $2.99 billion – down 9.8% from $3.32 billion in August. A total of 3,427 homes were sold in the month, whi ...
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BCREA Housing Market Update (October 2015)

October 15th, 2015
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the September 2015 statistics.
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Strong Housing Demand Pulls Inventory to an Eight Year Low

October 14th, 2015
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REBGV September 2015 Market Update Video

October 13th, 2015
REBGV President Darcy McLeod takes a look at the housing statistics for September 2015. In the REALTOR® View segment, we discuss how changes in the supply of homes for sale can impact the market.
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Canadian Economy Continued Rebound in July, Exceeding Analysts’ Expectations | Economy | Business in Vancouver

September 30th, 2015
The Canadian economy grew for the second month in a row in July after shrinking in the first five months of the year, according to Statistics Canada. Gross domestic product increased 0.3% in the month, beating analysts’ call for growth of around 0.2%. This comes a month after a downwardly revised figure of 0.4% growth in June. “After a growth stumble in the first part of the year, the Canad ...
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The Move is Done! Welcome Paragon, Farewell to MLXchange and Fusion

September 23rd, 2015
The move is done! Welcome Paragon! Farewell to MLXchange and Fusion. Featured News We completed the move to Paragon MLS® on September 15 when we said farewell to MLXchange and Fusion. In short, we made it!  This final move was the culmination of two years of hard work. “On behalf of all staff, we want to thank you for your efforts and patience throughout this transition,” Brad Scott, ...
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BCREA ECONOMICS NOW: US Federal Reserve Interest Rate Decision - September 17, 2015

September 17th, 2015
BCREA ECONOMICS NOWUS Federal Reserve Interest Rate Decision - September 17, 2015 The US Federal Reserve ("the Fed") opted to leave its key interest rate unchanged at its current level of between zero and 0.25 per cent. In its accompanying statement, the Fed cited slowing global economic growth and continued low inflation as key factors in its decision. The Fed further noted that it will be ...
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BCREA ECONOMICS NOW: Canadian Manufacturing Sales - September 16, 2015

September 17th, 2015
Canadian manufacturing rose for the third time in as many months, increasing 1.7 per cent on a monthly basis in July. Sales were led by higher shipments of motor vehicle parts, which accounted for close to two-thirds of the gain. Overall, sales were higher in 12 of 21 Canadian manufacturing sub-sectors. In BC, where the manufacturing sector employs roughly 170,000 people, sales rose 0.5 per c ...
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Lowly Apartments King of B.C. Commercial Real Estate

September 15th, 2015
Lowly Apartments King of B.C. Commercial Real Estate Sales of mostly older apartment buildings dominated high-value commercial real estate sales during the first half of 2015, accounting for nearly 30% of the total dollar volume across British Columbia. Counting only property transactions in excess of $5 million, multi-family rental property sales tallied to $370 million, compared t ...
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BCREA Housing Market Update (September 2015)

September 15th, 2015
BCREA Chief Economist Cameron Muir discuss the August 2015 statistics.
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New Wave of Real Estate Developers Hit the Vancouver Scene

September 14th, 2015
Vancouver has been a real-estate development test site for the children of wealthy, foreign-born entrepreneurs for several decades. Now there’s a new generation with a difference: They grew up here. Kevin Cheung and Scott Wang are two of the latest wave of developers, sometimes labelled as offshore, who have arrived in Vancouver within the last couple of years and caused ripples of inter ...
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REBGV AUGUST 2015 Stats Videocast

September 14th, 2015
REBGV President Darcy McLeod gives a summary of the August housing market statistics for Metro Vancouver. Includes a look at assessing home price trends.
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Vigorous Housing Demand Unabated in August

September 14th, 2015
Vigorous Housing Demand Unabated in August Vancouver, BC – September 11, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 8,811 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, up 20 per cent from the same month last year. Total sales dollar volume was $5.5 billion, a 32.8 per cent increase in comparison t ...
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BCREA ECONOMICS NOW: Bank of Canada Interest Rate Decision - September 9, 2015

September 11th, 2015
The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation continues to evolve in-line with the Bank of Canada's forecast while economic activity continues to be underpinned by solid household spending and strong demand from the US economy.  With the economy ...
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Economic Uncertainty Prompts Modest Decline in CLI

September 4th, 2015
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Low Interest Rates Keep B.C. Housing Market Buoyant

September 1st, 2015
A slew of housing data this week points to persistent strength in B.C.’s housing market as low interest rates, population gains and modest economic growth continued to drive elevated activity in July. Robust housing market activity aligns with our expectations that the sector will be a key growth driver for B.C.’s economy both this year and next. B.C. sales on the Multiple Listing Ser ...
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Old Apartments a Hot New Rental Market Investment

September 1st, 2015
The 61-year-old wood-frame apartment building on West 11th Avenue in Vancouver doesn’t look like much. No balconies outside, no elevator, no granite countertops or stainless steel inside. It has only 10 rental units. But when the building sold this spring, each of the old suites was worth $360,000, or more than $335 for each creaky square foot. Like many aging Vancouver apartment buil ...
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More than 40% of Vancouver House Owners Rent out Parts of their Homes: Survey

September 1st, 2015
Many Vancouver homeowners are dealing with the city’s notoriously high cost of living by renting out parts of their homes to non-family members, according to a Square One Insurance survey released August 24. The poll found 43% of Vancouverites who own their own houses are renting out either basement suites, laneway homes or other parts of their residences. This is the highest percentage of ...
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BC Home Sales to Reach 100,00 Units in 2015

August 19th, 2015
BC Home Sales to Reach 100,00 Units in 2015BCREA 2015 Third Quarter Housing Forecast Update Vancouver, BC – August 18, 2015. The British Columbia Real Estate Association (BCREA) released its 2015 Third Quarter Housing Forecast Update today. For only the third time in BC, Multiple Listing Service® (MLS®) residential sales are expected to reach 100,000 units in 2015. Housing demand ha ...
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BCREA Housing Market Update (August 2015)

August 17th, 2015
BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the July 2015 statistics.
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Elevated Home Sales Point to Strong Consumer Confidence

August 17th, 2015
For the complete news release, including detailed statistics, click here. Elevated Home Sales Point to Strong Consumer Confidence Vancouver, BC – August 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 10,247 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, up 20.7 per cent from the ...
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Sewell Family Proposes 171-unit Waterfront Condo in Horseshoe Bay

August 17th, 2015
  A prominent Horseshoe Bay family is planning a major redevelopment in the area that would include a 171-unit residential waterfront complex. The Sewell name is synonymous with the seaside enclave and has an 85-year history in the region. Lured to Horseshoe Bay in the 1920s by his fishing hobby, Dan Sewell Sr. built a community marina, which over the years has evolved from just pr ...
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REBGV July 2015 Stats Videocast

August 17th, 2015
Take a look at the July housing market with REBGV President Darcy McLeod. In the REALTOR® View segment of this video, Darcy describes the different housing options available in today's market.
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BCREA ECONOMICS NOW: US Economic Growth (Q2'2015) - July 30, 2015

August 3rd, 2015
US real GDP grew at a modest 2.3 per cent annual rate in the second quarter, led by positive contributions from personal consumption, exports, and government expenditures. Most importantly, the contraction in GDP initially reported for the first quarter was revised away, with GDP now estimated to have grown 0.6 per cent.   Improved US economic growth will help the Canadian economy ...
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"Good News" - New CMHC Rule Helps Qualify Home Buyers for Higher Mortgages

August 3rd, 2015
A change by Canada Mortgage and Housing Corporation (CMHC) that will allow buyers to count 100% of rental income from a secondary suite towards their income is “good news” for Vancouver area first-time buyers, analysts say. The ruling will also help landlords who hold up to four rental suites, even if they don’t live in the building. CMHC is Canada’s largest mortgage insurer and provides co ...
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BCREA Housing Market Update (July 2015)

July 16th, 2015
BC Real Estate Association (BCREA) Economist Brendon Ogmundson discusses the June 2015 statistics.1
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BC Home Sales Post Second Strongest June on Record

July 14th, 2015
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REBGV June 2015 Stats Videocast

July 10th, 2015
June 2015 was the second highest selling month on record for the Real Estate Board of Greater Vancouver. Watch this month's video for more housing market statistics.In the REALTOR® View, REBGV President Darcy McLeod looks at how home buyers can operate today's market.Visit www.rebgv.org to learn more.
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INTEREST RATES TO REMAIN IN HOLDING PATTERN

June 17th, 2015
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REBGV May 2015 Stats Videocast

June 10th, 2015
REBGV President Darcy McLeod takes a look at the housing statistics for May 2015. In the REALTOR® View segment, we look at the diversity of housing options available to home buyers. 
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Opinion: Blame physical limits, not foreigners, for Vancouver house prices

June 10th, 2015
BY ANNE MCMULLIN, SPECIAL TO THE VANCOUVER SUN JUNE 8, 2015 The math can’t lie. The city of Vancouver sits on 115 square km of the most beautiful land in the country; that hasn’t changed in more than a century and it’s not going to. Yet, in the decade between 2001 and 2011, Vancouver’s population rose by 69,000 people; while the number of homes rose by just 28,000. Within the current 265 ...
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Realtor Report for May 2015

June 9th, 2015
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Gentle Densification in Vancouver

May 28th, 2015
Written by Anne McMullin, President and Chief Executive Officer of Urban Development Institute (UDI) for Vancity Buzz They are doing it in London. They are doing it in Toronto. They want to do it in Vancouver. Taking notes from global cities where substantial population growth has occurred, real estate developers are looking through a new lens to find affordable, eco-conscious ways to ease ...
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Hottest April for Home Sales in a Decade

May 15th, 2015
Vancouver, BC – May 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent increase in comparison to the previous year. The average MLS® residential pri ...
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Housing Market Update (May 2015)

May 14th, 2015
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April 2015 Housing Market Update - The Real Estate Board of Greater Vancouver

May 11th, 2015
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More than their parts: Vancouver homeowners, developers eager to gamble on land assemblies

May 4th, 2015
Piecing together a deal Real estate agents, homeowners, developers and foreign investors are scrambling to bundle up Vancouver homes into so-called land assemblies,convinced such properties are worth more than the sum of their parts. But as Frances Bula reports, it could be an expensive gamble. When the four homeowners on Cambie Street banded together last year to sell their hous ...
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Home buyer demand outpacing supply across the Metro Vancouver housing market

May 4th, 2015
Strong home buyer demand coupled with below average home listing activity has created seller's market conditions within the Metro Vancouver* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,0 ...
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Housing Demand Remained Elevated in February

March 13th, 2015
Housing Demand Remained Elevated in February Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared ...
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