News

News – June 20, 2018 

 

Vancouver considers allowing duplexes throughout the city 

CBC.ca 

Zoning that ensures the majority of Vancouver is reserved for single-family homes ... Q&A: Vancouver's mayor says new housing plan aims to create ...

 

Strata condo windups 'creative' Vancouver property investments 

Real Estate News EXchange 

Strata condo windups 'creative' Vancouver property investments ... The Metro Vancouver commercial property investment market is showing signs of ... software and data solutions to the global commercial real estate industry.

 

Report links 'good density' with urban investment as Vancouver's affordability crisis continues 

Toronto Star 

But one real estate expert from the University of British Columbia says attracting more investors is of little benefit if local residents can't afford to live in ...

 

Toronto's directionless summer real-estate market draws lowball offers 

The Globe and Mail 

Patrick Rocca of Bosley Real Estate Ltd. says the action has been so unpredictable so far in 2018 that agents don't really know what to expect for the ...

 

North Vancouver housing

Globalnews.ca 

North Vancouver housing. Latest North ... North Vancouver residents say they're being forced out after District votes to replace housingcomplex.

 

News – June 18, 2018 

 

End to 'dual agency' among changes to BC real estate industry coming into force Friday 

CBC.ca 

New rules for the B.C. real estate industry come into force Friday and the Real Estate Council of B.C. says those changes will better protect buyers and ...

 

BC housing market becoming more balanced, if not more affordable 

News1130 

VANCOUVER (NEWS 1130) – For the first time in three years, the BC Real Estate Association is suggesting there's a better balance of supply and ...

 

Update of Residential Tenancy Act a 'challenge' 

Vancouver Courier 

The Rental Housing Task Force is visiting 11 communities in B.C., including Vancouver. The Vancouver meeting is full, but there is a wait list and an ...

 

CREA cuts home sales forecast, May sales down 16.2% compared with year ago 

Vancouver Sun 

real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. The Canadian Real Estate Association is lowering its national home sales ...

 

As Vancouver tried to woo Amazon, staff fretted over housing data that could make city 'look bad' 

National Post 

VANCOUVER — As city staff scrambled last fall to put together a proposal to woo Seattle-based Amazon to build a second headquarters here, they ...

 

 

News – June 15, 2018 

 

 

 

BC housing crisis cure: more supply and transit, less red tape 

 

Business in Vancouver 

 

B.C. housing crisis cure: more supply and transit, less red tape ... The solution to Greater Vancouver's housing crisis lies in increasing supply and ...

 

 

 

Dual agency rules will disrupt housing market 

 

Business in Vancouver 

 

This followed a handful of high-profile cases of realtor misconduct in Metro Vancouver's white-hot housing market. As part of the new rules, a realtor ...

 

 

 

Reforms put consumer protection first in BC real estate ... 

 

Vancouver Sun 

 

“The proposed changes are progressive and we support their speedy implementation” said the Real Estate Board of Greater Vancouver. The B.C. ...

 

 

 

Canada's new house prices remain flat amid new mortgage rules, higher interest rates 

 

The Globe and Mail 

 

Prices in Vancouver, also among the country's most expensive housing markets, have been unchanged since January. Vancouver is located in the ...

 

 

 

Dramatic revisions to city's housing plan sparks controversy in Vancouver

 

The Globe and Mail 

 

Vancouver is set to adopt a dramatically revised housing plan that will ... year from people who own property here as investments or second homes.

 

News – June 14, 2018 

 

Teranet: Toronto Real Estate Is Negative For The First Time Since 2009, Vancouver Still Soaring 

Better Dwelling 

Canadian real estate printed huge gains from last year, due mostly to condos. The Teranet – National Bank of Canada House Price Index

 

City of Vancouver announces $2B affordable housing endowment fund 

Vancouver Courier 

Dan Garrison, assistant director of housing policy at the City of Vancouver, announces the proposed Vancouver Affordable Housing Endowment Fund ...

 

The real estate war on the west coast: Vancouver's wealthy haves vs. middle-class have-nots 

News1130 

Across the street from a run-of-the-mill Starbucks in the Kitsilano neighbourhood of Vancouver is a two-storey Ferrari and Maserati dealership. Locals ...

 

What Seattle's Failed Amazon Tax Means for Vancouver

VICE 

Before Tuesday's vote, housing reform advocates in BC told VICE they believed Vancouver would benefit from its own version of the Amazon Tax in ...

 

More signs point to a real estate sales slowdown in the province 

Business in Vancouver 

On the residential side, the benchmark price for housing in the Real Estate Board of Greater Vancouver sales area rose just 0.2% in May 2017 versus ...

 

Vaughn Palmer: Harcourt calls housing crisis a permanent condition, confused by taxes 

Vancouver Sun 

Former B.C. Premier Mike Harcourt, who calls the B.C. housing crisis a ... “It is not a crisis, it is a permanent condition,” says the former Vancouver ...

 

 

 

News – June 12, 2018

 

 

This expert says Vancouver condo price relief “could be on the way” 

 

BuzzBuzzNews 

 

This expert says Vancouver condo price relief “could be on the way” ... With condo sales in the City of Vancouver losing steam, one realtor says price ... to the latest data from the Real Estate Board of Greater Vancouver (REBGV).

 

Foreign buying of Vancouver real estate—beware the siren call of sovereignty 

 

Straight.com 

 

In the ongoing debate over Metro Vancouver's housing challenges, the Vancouver Sun's populist columnist, Douglas Todd, has once again played the ...

 

Metro land squeeze pressures developers and investors 

 

Western Investor 

 

Vancouver's real estate market has always been driven by two groups: those who want to get in, and the insiders who want to make money.

 

Doubt cast on BC vacation-home price drop forecast 

 

Vancouver Courier 

The Vancouver Island Real Estate Board reports that oceanfront home prices in the Comox Valley in the first four months of this year were up 20 per ...

 

 

 

Jennifer Bradshaw: "Huge" East Vancouver development will save lives and provide much-needed ... 

 

Straight.com 

 

By Jennifer Bradshaw. Let's talk about size—the magnitude of the opioid and housing affordability problems in Vancouver. An elderly homeless man, ...

 

  

 

News – June 7, 2018 

 

Montreal area real estate market growth outpaced other Canadian cities in May 

Toronto Star 

It also compares favourably with real estate markets in Calgary, Vancouver and Toronto, where May sales fell by 18, 35 and 22 per cent, respectively, ...

 

That Second Home in Vancouver Might Just Be Affordable After All 

Bloomberg 

For Canada's recreational-property market as a whole, Royal LePage expects to see growth this year of 5.8 percent, to an average of C$467,764, ...

 

11 key facts from Greater Vancouver's spring housing market, so far 

BuzzBuzzNews 

11 key facts from Greater Vancouver's spring housing market, so far ... from the Real Estate Board of Greater Vancouver (REBGV), published June 1.

 

Vancouver's housing market stokes fears of a 'brain drain' of millennials from the region: study 

Globalnews.ca 

New research shows just how challenged young people in B.C. feel about their finances and housing. A survey by Insights West found 60 per cent of ...

 

BC housing tax to cause vacation property price dip: Royal LePage forecast 

CTV News 

B.C. housing tax to cause vacation property price dip: Royal LePage ... Owners of multimillion dollar Vancouver homes speak out against tax bump.

 

News – June 6, 2018 

 

 

 

Vancouver Real Estate Inventory Jumps 38%, Now At 34 Month High 

 

Better Dwelling 

 

Real Estate Board of Greater Vancouver (REBGV) numbers show prices were higher in May. The price climb wasn't due to a lack of inventory though.

 

 

 

Real estate tipping point? 

 

Castanet.net 

 

Home sales across Metro Vancouver tumbled last month, when compared with May 2017 and the Real Estate Board of Greater Vancouver says that ...

 

 

 

11 key facts from Greater Vancouver's spring housing market, so far 

 

BuzzBuzzNews 

 

Cooling demand in Metro Vancouver's housing market allowed supply to accumulate in May, however, the amount of homes for sale still remain below ...

 

 

 

Single homes in Metro Vancouver nudge mark where prices can fall: board 

 

CanadianBusiness.com 

 

VANCOUVER _ Home sales across Metro Vancouver tumbled last month, when compared with May 2017 and the Real Estate Board of Greater ...

 

 

 

In Calgary, housing market hits a 'sweet spot' for millennials 

 

The Globe and Mail 

 

Meanwhile, the benchmark price in the Greater Vancouver region just hit ... Housing prices are stagnant but not falling, demand is stable but supply, ...

 

News – June 5, 2018 

 

Vancouver Real Estate: Single-Family Homes On Verge Of Price Correction, Realty Board Warns 

HuffPost Canada 

Homes in the Greater Vancouver city of Burnaby, B.C. Home sales across Metro Vancouver tumbled last month, and the Real Estate Board of Greater ...

 

Done Deals highlights: June 2018 issue 

Western Investor 

From | Macdonald Commercial Real EstateVancouver. ... DEAL | Strata dissolution sale of 53 units in Vancouver's West End, sold for approximately ...

 

Greater Vancouver home sales slow in May 2018 as real estate listings increase 

The Province 

Home sales in May across Greater Vancouver dropped by 35.1 per cent ... If you like having options, now's the time to browse some real estate.

 

A Tax That Would Solve the Housing Crisis 

TheTyee.ca 

In Vancouver, responses to the housing crisis fall into two camps: there are those who would increase supply and those who would limit demand.

 

Single homes in Metro Vancouver nudge mark where prices can fall: board 

Financial Post 

VANCOUVER — Home sales across Metro Vancouver tumbled last month, when compared with May 2017 and the Real Estate Board of Greater ...

 

 

 

 

News – June 4, 2018 

 

 

 

Home prices predicted to keep climbing – at slower rate 

 

Squamish Chief 

 

Home sales across the Real Estate Board of Greater Vancouver region – including Sea-to-Sky and Sunshine Coast – may be soft so far this year, but ...

 

 

 

What it's like to build homes in Vancouver

 

Vancouver Courier 

 

Earlier this week, the City of Vancouver announced a new pilot project to fast ... But there's a real systemic problem around their continued demand for ...

 

 

 

Conversations That Matter: Braking Vancouver's housing market 

 

Vancouver Sun 

 

Measures to create housing for those who can't afford Vancouver's sky-high real estate appear to have backfired. The target started out as offshore

 

 

 

Report says supply, not taxes, needed to ease Vancouver's housing crisis 

 

The Globe and Mail 

 

Tax-based policies intended to ease British Columbia's housing crisis will generate significant new revenue for the provincial government while ...

 

 

 

In Vancouver, a Housing Frenzy That Even Owners Want to End 

 

Independent Recorder 

 

“I live 15 minutes from the downtown core in a house,” said Keith Roy, a real estate agent. “That's crazy. I should be in a townhouse at this distance, ...

 

 

News – June 1, 2018 

 

Higher taxes no solution to Vancouver's real estate crunch, says study 

 

CBC.ca 

Cutting through red tape and allowing greater density will do more to create affordable housing in Metro Vancouver than taxing speculators and ...

 

Economic impact of the office sector 

Business in Vancouver 

The economic scale of British Columbia's commercial real estate sector was ... The City of Vancouver itself received approximately $19.8 million in ...

 

UBC report says Metro Vancouver housing woes driven by red tape, not speculators 

Globalnews.ca 

A new report on Metro Vancouver's sky high real estate prices says speculators and foreign buyers aren't driving the market. Instead, the study from ...

 

Ninety feet sought for Chinatown height limit 

Straight.com 

“Chinatown is a special historic cultural neighbourhood in Vancouver that needs to be protected from intense development pressures and real-estate ...

 

City of Vancouver plans to invest in renewing aging infrastructure and amenities 

Vancouver Courier 

The City of Vancouver's draft 2019-2022 Capital Plan, which will be ... of 1,200 to 1,600 units of non-market rental housing, creation of approximately ...

 

Vancouver seeking 'innovative' proposals for False Creek Flats tech and arts hub 

Daily Hive 

The City of Vancouver is seeking international interest to participate in a ... environmentally friendly mixed-use district with housing and job-creating ...

  

News – May 31, 2018

 

Vancouver fast tracks new home building permits 

 

Vancouver Courier 

 

Vancouver fast tracks new home building permits ... the aim of expediting single-family and laneway homes as part of the Housing Vancouver goal to ...

 

 

 

Charging stations latest cost for new condo buyers 

 

Business in Vancouver 

 

Yet, starting in 2019, 100% of new condo buyers in Vancouver will pay to ... “When expressing their deep concerns over housing affordability, why ...

 

 

 

Canada's taxman becoming more aggressive with real estate tax evasion in hot Vancouver and ... 

 

Toronto Star 

 

VANCOUVER—In Vancouver and Toronto's hot real estate markets, property owners “try to trick the Canada Revenue Agency” all the time, but over ...

 

 

 

Government is a major contributor to higher Metro house prices 

 

Business in Vancouver 

 

If we are serious about slowing the hyperactive escalator lifting our housing prices to higher and higher levels, then we have to push the emergency ...

 

 

 

Cost-conscious parents buying condos for kids studying away from home 

 

The Globe and Mail 

 

The tight rental housing market in Vancouver and Toronto makes many of them, like Canadian parents, nervous that their children won't be able to find ...

 

 

 

Has Toronto hit peak condo

 

The Globe and Mail 

 

... affordability in the first quarter – especially in Toronto and Vancouver. ... For all three, the offer date came and went without a sale. ... Mr. Bibby senses that buyers in the downtown condo segment have become more cautious.

 

 

 

 

News – May 30, 2018 

 

Taxes, fees make up 26% of new Vancouver condo cost 

Vancouver Courier 

“At a time when all governments are purportedly concerned about housing affordability, all of these increased taxes and fees are just making housing ...

 

Vancouver Tenants Union issues 50-point plan to protect renters and return affordability to BC real ... 

Straight.com 

... 50-point plan to protect renters and return affordability to B.C. real estate ... in 2016, Metro Vancouver's vacancy rate for purpose-built rental housing ...

 

High housing prices blight lives – and widen the inequality gap 

The Globe and Mail 

One reason is that progressive land planners in cities such as Vancouver and Toronto (and provinces such as Ontario) have preferences in housing ...

 

For low-income residents in Vancouver, a different kind of real estate crisis 

The Globe and Mail 

Development in downtown Vancouver and rising real estate prices have been pushing SROs out of the market for decades, dating back to the lead-up ...

 

Major Vancouver housing co-op forced to increase rents significantly in face of $500000 debt 

The Globe and Mail 

A major Vancouver housing co-op is facing a half-million-dollar debt that is forcing it to significantly raise rents and offer fewer subsidized units to ...

 

Montreal's new LRT to upend real estate market 

The Globe and Mail 

Montreal's new LRT to upend real estate market ... Dubai and Vancouver – will also likely have an impact on land use and real estate development.

 

 

 

 

 

 

News – May 29, 2018 

 

BC housing markets easing into balance 

Business in Vancouver 

 

Declines were concentrated in the Lower Mainland, Vancouver Island and Okanagan Mainline real estate board regions, which, incidentally, are ...

 

 

The pros and cons of reverse mortgages 

CTV News 

 

With the high value of real estate, many people have a lot of equity in their properties, making them house rich and cash poor. That may have some ...

 

 

 

Zero-waste retail game plan gaining traction in Vancouver

Business in Vancouver 

 

As with many real estate sectors in B.C., especially in the Metro Vancouver and South Coast region, farmland is under extreme development pressure.

 

 

Rental Housing Task Force to visit 10 BC communities in June 

Vancouver Courier 

 

The province's Rental Housing Task Force, headed by Vancouver-West End MLA Spencer Chandra Herbert, will spend June gathering feedback from ...

 

 

Affordable rental-only housing around transit stations proposed by new ProVancouver party 

Straight.com 

 

A new Vancouver civic party is suggesting that condo projects should not ... David Chen noted that real-estate speculation is high in market-housing ...

 

News – May 25, 2018 

 

Sales of Vancouver homes above $3-million cool in wake of tax measures 

The Globe and Mail 

The BC NDP government's February budget measures to rein in Vancouver's runaway real estate market are starting to erode sales and prices for ...

 

Burnaby suddenly Metro Vancouver office hot spot: CBRE 

Real Estate News EXchange 

Metro Vancouver's hot office market is helping to stoke investment demand in the region's suburbs says CBRE, pointing to several of its recent deals ...

 

Boomers bounce into cottage country 

Business in Vancouver 

Baby boomers and retirees now account for 91% of recreational property sales in Canada, according to an annual survey of the recreational ...

 

Curbs on demand won't solve surging house prices in Canada 

The Globe and Mail 

In Vancouver, the cost of housing restrictions is by far the largest in Canada, at $640,000 for the average new house. Vancouver's supply constraint ...

 

Vancouver's rapid cycle of house teardowns comes with environmental cost 

Toronto Star 

VANCOUVER—Between 1985 and 2014, more than 20,000 single-family ... Caroline Adderson, a Vancouver housing critic who runs the Vancouver ...

 

 

News – May 22, 2018

 

Vancouver residents vote on ways to ease housing crisis with Empty Homes Tax revenue

 

Globalnews.ca

We're learning more about how the City of Vancouver hopes to tackle the housing crisis using the Empty Homes Tax revenue. The city held a session ...

 

 

Finally, Something Funny About Vancouver's Real Estate Market

TheTyee.ca

 

Despite the far-out premise, the story makes very real commentary on how the real estate market affects Vancouverites' lives and their concepts of ...

 

 

This Canadian city became the hottest luxury housing market in the world in 2017.

 

BuzzBuzzNews

Similar to growth experienced in Toronto and Vancouver in recent years, Victoria saw rapid increases in housing prices and sales in 2017. And ...

 

 

Why 'perpetual clouds around housing' could weigh on Big Banks' second-quarter results

 

Financial Post

Canada's banks are big players in the housing market, which has clearly ... Greater Vancouver and Greater Toronto areas) were down 11.3 per cent.

 

 

Surtax on $3-million homes doesn't go far enough, argues UBC prof

Toronto Star

 

 

VANCOUVER—As the debate over a tax increase for homes worth over $3 million ... homes as “commodities” and would cool overheated real estate markets. ... Kershaw isn't the first Vancouver-based academic to propose lowering ...

 

News – May 17, 2018

 

Victoria lands top spot on Christie's luxury housing markets list

Vancouver Courier

Victoria lands top spot on Christie's luxury housing markets list ... and high domestic demand for housing catapulted the Vancouver Island community ...

 

Development costs and regulations driving up home prices in Vancouver

Vancouver Sun

The report shows that in Vancouver, after factoring in a profit for the ... limits on housing development — are highest in B.C., with the Vancouver census ...

 

Home prices dipped in Yellowknife last year, following national trend

CBC.ca

But at least one real estate agent says that's a reflection of the types of ... and Vancouver, the Canadian Real Estate Association reported Tuesday.

 

Cambie plan increases residential, but affordability remains elusive

Business in Vancouver

Vancouver's recent approval of the third phase of the Cambie corridor ... Urban Economics and Real Estate, at another ULI event in September 2010.

 

News – May 16, 2018 

 

Teranet: Canadian Real Estate Prices Make “Fourth Smallest” April Advance In 20 Years 

Better Dwelling 

Teranet: Canadian Real Estate Prices Make “Fourth Smallest” April ..... Vancouver real estate continued to make the largest gains in the country.

 

Regulations add $644K to cost of single-family Vancouver homes: study 

CTV News 

They found Vancouver and Toronto, which are both experiencing “high” demand for housing, had construction costs around $350 per square foot in ...

 

Money, power and real estate shaping Vancouver's wacky election 

Toronto Star 

Then there's the housing issue. While Vancouver's extremely unaffordable housing has played a big part in previous elections, concern is now “at a ...

 

Creative Strategy to Fight Extreme Housing Costs in Toronto, Vancouver

The Epoch Times 

A $10 billion project to build affordable housing in Toronto and Vancouver is in the works. In the last few years Canadians have been watching real ...

 

Baby boomers driving up price of recreational homes in BC, says report 

News1130 

VANCOUVER – If the high price of real estate here in Metro Vancouver has you thinking about heading to the Interior or Vancouver Island, good luck!

 

 

 

 

 

 

News – May 10, 2018 

 

 

 

Historic Vancouver real estate talk sparked by Courier article 

 

Vancouver Courier 

 

An upcoming talk on Vancouver housing by developer Michael Geller, ... about because of a Vancouver Courier article on old real estate headlines.

 

 

 

Greater Vancouver's luxury real estate market is softening, report shows 

 

CBC.ca 

 

Spring sales in the Greater Vancouver area's luxury real estate market are down but prices continued to climb, according to a new report. Sales activity ...

 

 

 

'Fear, not fundamentals' causing Metro Vancouver market slowdown 

 

The Record (New Westminster) 

 

Residential developers, marketing executives and real estate agents are bracing for a sustained downturn in the housing market, after sales in April ...

 

 

 

Toronto, Vancouver tumble in global price ranking of prime real estate

 

The Globe and Mail 

 

The Toronto and Vancouver real-estate markets are tumbling in the global rankings, knocked from their luxury perches by a combination of rising ...

 

 

 

 

 

 

News – May 9, 2018

 

Canadian Housing Starts Trend Stable in April 

Canada NewsWire (press release) 

Housing starts in the Vancouver Census Metropolitan Area (CMA) continued their strong trend throughout April. Year-to-date starts were up for both ...

 

Is Vancouver's overheated housing market changing course? 

BuzzBuzzNews 

Following the announcement of new BC housing policies in February, home price appreciation has been decelerating in Greater Vancouver, which ...

 

How former Vancouver city planners would have done things differently 

CBC.ca 

An aerial photograph shows downtown Vancouver in the 1970s. ... She wishes the city had required developers to actually build rental housing on the ...

 

Rising prices, foreign buyers, and disdain for developers: SFU talk to recount Vancouver's recent ... 

Straight.com 

For 30 years, Vancouver architect Michael Geller has collected newspaper clippings related to housing, real estate, and housing affordability.

 

3 major turning points in the history of Vancouver real estate

CBC.ca 

Vancouver's housing affordability crisis is an ongoing saga but has roots going all the way back to the arrival of the first colonizers. To this day, the ...

 

 

News – May 3, 2018

 

New Amazon facility in Vancouver adds pressure to strained housing market 

The Globe and Mail 

 

Amazon's plan to hire 3,000 people at a new facility in downtown Vancouver has raised concerns about an influx of new workers competing in an expensive housing market — in a region with among the lowest tech-sector salaries in North America. The U.S. online retailer announced this week it will be ...

 

Investing in the office sector 

Western Investor 

 

Historically, businesses with large floor plates and lower rent requirements moved from downtown Vancouver to the suburbs, but increasingly, ... With rising rents, some tenants are considering purchasing over renting which in turn has given rise to strata office sales activity in the area, which range from ...

 

Vancouver-area home sales fall to 17-year low for April 

The Globe and Mail 

 

In the Vancouver region last month, prices weakened for detached houses while the condo market stayed hot. The Real Estate Board of Greater Vancouver saw 2,579 sales of detached houses, condos and townhomes in its territory last month, down 27.4 per cent from 3,553 transactions in April, 2017.

 

Supply vs. demand: Social-media housing war spills over into Vancouver's civic election 

 

Toronto Star 

VANCOUVER— There is no subject more hotly debated in Vancouver than housing, and there's a place on Twitter for people who are deeply obsessed with all things real estate: it's called #vanre. Now, a social media debate that has raged for years between “supply-siders” and “demand-siders” has ...

 

BC watchdog probes realtor conduct of Vancouver presale condo flips 

The Globe and Mail 

 

B.C.'s real estate regulator is investigating alleged realtor misconduct in the flipping of pre-construction condo units in Vancouver's hot market and wants the province to start tracking the activity following a recent Globe and Mail investigation. The Globe found select realtors and speculators who buy ...

 

News – May 2, 2018

 

Vancouver is no longer Canada's most inflamed housing market 

Mortgage Broker News 

Attesting to the continued global draw of Canadian property, benchmark prices in the ski town of Whistler have now surpassed those in Vancouver. Businesses are buying million-dollar properties to house employees as living costs drive out workers. The cost of visiting has also spiralled, with overnight ...

 

British Columbia considers halt to exclusive access for condo presales 

The Globe and Mail 

Forcing developers to make preconstruction condo units available to all potential buyers at the same time and the same price is something B.C.'s Finance Minister says she is open to trying in order to help make real estate more affordable in and around Vancouver. It's part of a broader promise by the ...

 

Richmond's pre-sale condo flipping to be tracked by province 

Richmond News 

... of pre-sale condo assignments. Wenesday's announcement, to require real estate developers to collect and report information on pre-sale condo assignments, comes five months after Canada Revenue Agency (CRA) announced it was investigating select developments in Toronto and Vancouver.

 

'Amazon Effect' May Push Vancouver Housing Prices Even Higher 

Bloomberg 

Anything similar in Vancouver could create additional pressure in an already strained market. Vancouver's supply of available rentals has remained below 1 percent for three years in a row. The price of a benchmark home has risen 91 percent in a decade. Government attempts to ease prices -- including ...

 

Cities can now create rental-housing zones 

Maple Ridge News 

“We do more, relatively more, than most municpalities in Metro Vancouver.” Pitt Meadows Mayor John Becker though said the ability to create rental-only zones is “an excellent opportunity” for cities to help with affordable housing. Many people fall between the cracks to get homes of their own, he added.

 

 

News – April 26, 2018 

 

 

 

Living wage climbs alongside housing costs in Metro Vancouver

 

Toronto Star 

 

VANCOUVER—The cost of living in Vancouver, especially the cost of housing, has increased so much that living wage advocates have found the wage required for families to get by has gone up for the first time in three years. According to the calculation by Living Wage for Families and the Canadian ...

 

 

 

Buying a home in Vancouver is getting easier — but only if…

 

Toronto Star 

 

New numbers from the Canada Mortgage and Housing Corporation show competition for condos and other homes worth less than $1 million is fiercer than the competiton for expensive homes. Pictured here are condo buildings along Vancouver's Coal Harbour. (Jennifer Gauthier / Jennifer Gauthier for ...

 

 

 

Construction labour shortage a massive barrier to BC's new housing: experts 

 

Vancouver Courier 

 

Even with good intentions, appropriate funding and expedited permitting processes, there simply aren't enough construction tradespeople to build all the homes required to meet B.C.'s housing targets, according to a group of industry experts. Speaking to a huge audience at the Vancouver Real Estate ...

 

 

 

BC law targets condo flipping, tax evasion, rental home protection 

 

CTV News 

 

The Real Estate Board of Greater Vancouver reported last month the average benchmark price for all properties in Metro Vancouver was just below $1.1 million, an increase of 16 per cent since March 2017. The average price for a detached single family home in Metro Vancouver was $1.6 million.

 

 

News – April 20, 2018 

 

Dream of Metro Vancouver ownership has 'shifted': key real estate player 

News1130 

VANCOUVER (NEWS 1130) – With rising prices putting most homes out of reach for many would-be buyers, is the dream of ownership in Metro Vancouver dead? Andrew Ramlo, a vice-president with the Rennie marketing group, says it's not. “I don't think the dream is dead. The dream is just different ...

 

'Multigenerational living' may be the new old solution to sky-high housing prices 

Financial Post 

The spatial diversity, for instance, is more pronounced at the Census Metropolitan Area (CMA) level with 5.8 per cent of households in Toronto, 4.8 per cent in Vancouver, and only 1.8 per cent in Montreal being multigenerational households. Given that multigenerational households are, by default, ...

 

There's no stopping the housing market from weighing on Canada's economic growth 

BuzzBuzzNews 

If Canada's soaring housing market were to come to an end this year, it will stunt economic growth — even if home prices don't decline. ... In Canada's hottest markets — Toronto and Vancouver — Ashworth says that in seasonally adjusted terms, home sales remained “unusually depressed” last month.

 

Housing crisis amplified on Denman Island 

Ladysmith Chronicle 

While housing problems on the main part of Vancouver Island are well-documented, the Gulf Islands have experienced their own set of challenges related to availability and affordability. Housing issues on the Gulf Islands are amplified due to their size, isolation, rural culture, and housing regulations.

 

 

News – April 19, 2018 

 

Where to buy real estate in Greater Vancouver 2018 

 

MoneySense 

 

What's a buyer to do? Despite the threat of rising rates, tighter mortgage regulations and well-intentioned government intervention, the Greater VancouverArea (GVA) real estate market continues to defy expectations. Fraser Valley's HPI Benchmark Price — which measures the rate at which housing ...

 

Vancouver condo flips flying under the radar 

 

The Globe and Mail 

 

In February, the B.C. government introduced new tax measures aimed at returning home prices to a semblance of something approaching affordable, while also collecting funds to create much-needed affordable housing. The budget addressed investment properties left empty, and introduced a more ...

 

See how hot Metro Vancouver's real estate is on this interactive map 

 

Daily Hive 

 

A newly created, interactive heat map provides some unique insight into which Metro Vancouver neighbourhoods are on fire when it comes to real estate, and which ones are simply too hot to touch. The heat map was created by EstateBlock, which describes itself as “an innovative Real Estate Search ...

 

Commercial real estateVancouver's growth will depend on building more office space 

 

The Province 

 

Only two high-end office spaces of 30,000 square feet or larger remain available for lease in downtown Vancouver, according to a new tenant profile report by commercial property firm Avison Young. By the end of the first quarter of this year, there were 11 class-AAA buildings, certified in Leadership in ...

 

 

BC to spend $1.9 billion to help build rental housing over the next decade 

 

Vancouver Sun 

 

VICTORIA — British Columbia's government is investing $1.9 billion over the next 10 years to help build 14,000 affordable homes for renters. Premier John Horgan says fixing the housing crisis in the province isn't just about ownership, but making sure that those who rent can find and afford homes ...

 

News – April 16, 2018 

 

Home Prices See Double-Digit Increase in Greater Vancouver off of Extremely Low Inventory Levels 

Canada NewsWire (press release) 

"Greater Vancouver's real estate market continues to be defined by low supply levels," said Randy Ryalls, general manager, Royal LePage Sterling Realty. "As we have seen time-and-time again, the effects of demand-side policies are largely short-lived. The only way that we can create a healthy and ...

 

Canada's average home price drops over 10% year-over-year in March 

Globalnews.ca 

Excluding Toronto and Vancouver, the average home priced slipped to $383,000 a dip of 2 per cent since March of 2017, CREA said. ... Overall, CREA's stats also portray a national housing market where house hunters are more likely to hold off for a better deal, while home sellers aren't quite ready to ...

 

Sellers blame new mortgage rules as average Canadian house price falls 10% in past year 

CBC.ca 

The Canadian Real Estate Association said Friday that the number of homes sold also plunged, by almost a quarter from the same month a year ago, which ... says the average price can be a misleading indicator, because it is skewed by what's happening in big markets such as Toronto and Vancouver.

 

Push factor: Vancouver home sales fall as taxes on foreign buyers are implemented 

The Real Deal 

... to stop speculative investing and normalize housing prices. One of the key groups affected by the new rules are Chinese home buyers, who were the sources of the majority of foreign investment in the market. Vancouver's new costs could work to the advantage of other markets, such as New York City, ...

 

 

 

News – April 11, 2018

 

Canadian Housing Starts Trend Stable in March 

Canada NewsWire (press release) 

 

Rising March housing starts capped off a strong first quarter in starts in the Vancouver Census Metropolitan Area (CMA). Starts of multifamily condominium and rental units led the increase, with activity concentrated in the core areas of the City of Vancouver, Richmond, and North Vancouver in the first ...

  

Will bidding wars in Vancouver's condo market slow down anytime soon? This realtor doesn't think so 

BuzzBuzzNews 

 

Although Vancouver condo sales continued to drop in March, almost half of those sales were sold above asking price. Vancouver realtor Steve Saretsky says this confirms that bidding wars are still prevalent in the market, and will likely continue for some time. “We have fewer buyers but those fewer ...

 

Stress tests pushing one in three homebuyers to forgo home purchase: survey 

Financial Post 

 

Meantime, prices in Vancouver rose to $1,051,513 in January and February up 11 per cent from $950,184 during the same period in 2017. And in Calgary, the average residential sale price was $481,775, up 1.4 per cent from $475,288 a year ago. The OSFI stress test did not impact Western Canada's ...

 

Provincial government launches rental housing task force 

Vancouver Sun 

 

Vancouver NDP MLA Spencer Chandra Herbert, a long time advocate for renters, is set to head up a new task force looking at issues in the rental housingmarkets. Premier John Horgan, joined by Minister of Municipal Affairs and Housing Selina Robinson, announced Tuesday that Chandra, who is MLA ...

 

News – April 9, 2018 

 

Vancouver realtor and friends win record-setting Canucks 50/50 draw 

Vancouver Courier 

Vancouver realtor and friends win record-setting Canucks 50/50 draw. Derek Kai and two friends score half of a million-dollar ... A Vancouver realtor and two of his friends are $507,278 richer today. And it's not because he sold a million-dollar property. Derek Kai and his friends won Thursday night's ...

 

Editorial: Confiscatory taxes aren't the answer to housing woes 

Vancouver Sun

The Real Estate Board of Greater Vancouver says the sales-to-active listings ratio is nearing the mark where downward pressure on prices could occur. Before we start cheering on lower home prices, however, we might consider what the B.C. Real Estate Association has to say about the economic toll of ...

 

RBC CEO says housing market slowdown a welcome shift in consumer psychology 

 

CanadianBusiness.com 

TORONTO _ The chief executive of Royal Bank says the housing market slowdown is a welcome shift in consumer psychology toward more caution. ... The Vancouver and Toronto region real estate boards, representing the country's hottest markets, reported double-digit annual sales declines in March ...

 

 

News – April 5, 2018 

March home sales slow in Metro Vancouver but prices stay high: real estate board 

CanadianBusiness.com 

VANCOUVER _ Metro Vancouver home sales over the first quarter of this year were the lowest in five years, but statistics from the Real Estate Board of Greater Vancouver show prices remain high. The board says home sales across the region in March tumbled 29.7 per cent compared with March 2017 ...

 

Rising rates and mortgage rules weighed on Vancouver's housing market last quarter. Here are 11 ... 

BuzzBuzzNews 

Metro Vancouver home sales just recorded the lowest first-quarter total since 2013. And, the Real Estate Board of Greater Vancouver (REBGV) points the finger squarely at the introduction of stricter mortgage regulations this year and rising interest rates as the culprits behind the Q1 2018 drop. A total of ...

 

Speculation tax is essential for housing affordability 

Vancouver Sun 

Those working people, meanwhile, are left to subsidize that elite with their income taxes, and they struggle to save up enough to pay for what is now unaffordable housing. If unchecked, cities like Vancouver become subsidized resort towns for the world's rich. There are three major problems with this ...

 

Hard to predict where the real estate market will go from here 

Squamish Chief 

According to the Real Estate Board of Greater Vancouver, the benchmark price of a single-family detached home in Squamish in February was $993,600, up 13.3 per cent over a year earlier and nearly double over five years ago. Townhouses averaged $848,600, up 16.3 per cent from last year and 157 ...

 

News – April 4, 2018 

Speculation tax expected to impact West Vancouver

North Shore News 

“We have a housing crisis and I can accept why government may want to tax vacant properties in an effort to either bring them into use as rental housing or to generate revenue to support other affordable housing,” he said. But, he warned, West Vancouver has very little housing stock that would be ...

 

Vancouver home sales fell twice as fast as a bank thought they would after BC NDP's new taxes 

Globalnews.ca 

... last year, when there were 3,579 sales, according to unadjusted data released by the Real Estate Board of Greater Vancouver (REBGV). Sales, however, went up by 14 per cent from February. Quarterly data provided by the REBGV showed sales dropping right across the region in every housing type.

 

March home sales slow in Metro Vancouver but prices stay high: real estate board 

Financial Post 

VANCOUVER — Metro Vancouver home sales over the first quarter of this year were the lowest in five years, but statistics from the Real Estate Board of Greater Vancouver show prices remain high. The board says home sales across the region in March tumbled 29.7 per cent compared with March 2017 ...

 

Vancouver and the Canadian Real Estate Bubble 

Financialbuzz.com 

Vancouver, in British Columbia, Canada, is one of the most beautiful cities in North America. The metropolis is now being known for a much less envious reason: many real estate professionals hold the opinion that the Canadian city is now experiencing a real estate asset abnormal rise or what is ...

 

News – April 3, 2018 

How Has Vancouver Changed Property Taxes for Foreign Buyers? 

Mansion Global 

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Q: I'm in Hong Kong and looking to buy a $2 million property in Vancouver. How do the new tax changes affect me? A: The 2018 British Columbian budget brought some changes to the way foreign ...

 

Developers ask for exemption from BC's speculation tax on development land 

Vancouver Sun 

The province faced a firestorm of criticism when it first brought out the idea of expanding the speculation tax introduced by the previous B.C. Liberal government to curb absentee foreign investment in Metro Vancouver housing. Communities such as Kelowna, West Kelowna, Parksville and Qualicum ...

 

It just got tougher to take Quebec's back door into Vancouver and Toronto real estate 

Globalnews.ca 

... under fire for creating a “trampoline effect” that has seen wealthy immigrants arrive in Quebec, obtain permanent residency and then move to other parts of the country, mainly Vancouver and Toronto. More than 46,000 applicants have already taken this route to these cities, and their housing markets.

 

Vancouver Hopes 'Empty Homes Tax' Can Help Stem Affordability Crisis 

Next City 

A property owner suggested to CBC that while the tax will lead to more housing availability, it won't necessarily drive down prices. And Davidoff argued that the city “painted with a very broad geographic brush” in establishing the tax, pointing out Vancouver's islands hold vacant homes but don't have the ...

 

News – March 29, 2018 

There's plenty of good news to be had in the Canadian housing market 

BuzzBuzzNews 

“Unlike Toronto and even higher-priced Vancouverhousing markets in the rest of our country remain affordable and healthy,” writes BMO senior economist Sal Guatieri, in a recent note. According to Guatieri, the worrisome national home sale numbers are largely result of big sales drops in Toronto and ...

 

BC speculation tax facing more pushback, a day after tweaks 

CTV News 

Just a day after bowing to pressure and tweaking its proposed real estate speculation tax, the British Columbia government is facing more pushback from those who ... Metro Vancouver Regional District (excluding Bowen Island and parts of Electoral Area A that aren't in the University Endowment Lands) ...

 

Will BC homeowners be unfairly penalized by the new speculation tax? These experts weigh in 

BuzzBuzzNews 

According to the British Columbia Real Estate Association (BCREA), the BC government didn't thoroughly explain how it plans to minimize the impact ... “For example, homeowners in the City of Vancouver could potentially be charged twice for leaving their homes vacant: once by the city and once by the ...

 

 

News – March 28, 2018

BC bows to housing-tax furor, cuts rates for Canadians with vacation homes 

The Globe and Mail 

The tax applies to Metro Vancouver, the capital regional district around Victoria, West Kelowna, Kelowna, Nanaimo-Lantzville, Abbotsford, Chilliwack and Mission. The Gulf Islands and Juan de Fuca, which were originally covered by the tax, and the Vancouver Island communities of Parksville and ...

 

BC real estate speculation tax scaled back; exemptions for rural areas 

Times Colonist 

The speculation tax, based on a percentage of property value and to be paid annually, will still apply to Metro Vancouver, the Capital Regional District (excluding the Gulf Islands and Juan de Fuca), Kelowna, West Kelowna, Nanaimo-Lantzville, Abbotsford, Chilliwack and Mission. “We have focused the ...

 

Vancouver needs more housing choices at prices the rest of us can afford 

Vancouver Courier 

What we need are more housing choices at prices the rest of us can afford. However, there are real obstacles to producing this housing. Firstly, there's the high price of land. Given values along the Cambie Corridor and other Vancouver neighbourhoods, the cost of land for a space equal to that occupied ...

 

Vaughn Palmer: NDP backs down on half-baked speculation tax 

Vancouver Sun 

First and foremost, the New Democrats no longer intend to treat most British Columbian owners of vacation and recreational properties as real estate speculators in their own province. Second, many of the province's prime vacation and holiday communities were placed beyond the reach of the tax, relief ..

News – March 27, 2018 

$105-million real estate deal reveals hot Vancouver market's inner workings 

The Globe and Mail 

The court decision – as well as the array of property records connected to the sale – provide a rare look into the hidden inner workings of land assembly in Vancouver's hot real estate market, where buyers purchase properties to lay the groundwork for larger redevelopments, aided by recent changes in ...

 

BC tweaks speculation tax to protect locals with vacation homes 

CTV News 

James told reporters Monday the tax will not apply in smaller, rural communities that aren't facing a housing crisis. Homes with a value of a less than $400,000 will also be exempt, James said. Those who own a vacant home worth more than that will receive a refundable tax credit on the first $400,000 of ...

 

8 facts you need to know about Metro Vancouver's condo market heading into spring 

BuzzBuzzNews 

... more affordable home option. And this trend is expected to persist in the coming months. In February, the benchmark price of a condo was $682,800, a 27.2 per cent increase from a year ago, according to the latest data from the Real Estate Board of Greater Vancouver (REBGV), published this month.

 

BC cities dominate list of Canada's most costly markets to buy home on one income 

Business in Vancouver 

We all know Vancouver real estate is expensive, so it's no surprise that the city tops the list of Canada's most expensive regions in which to buy a home for a single-income earner in a new Zoocasa study. What may be a little more surprising is that Toronto – also known for having real estate prices that 

 

News – March 26, 2018 

 

On-site amenities a big draw at Fraser Commons 

 

Vancouver Sun 

 

Serracan Properties founder Gino Nonni has been in the real estate business for 35 years and his company's work spans nearly every type, whether mixed-use, commercial or residential. Serracan's latest venture is Fraser Commons, a residential development in south Vancouver, the first under the ...

 

 

 

What's driving prices upwards in Canada's hottest housing market? According a new report ... 

 

BuzzBuzzNews 

 

Ahead of the seasonal buying rush, BMO has released its annual spring housing affordability report. One factor the bank believes will be pushing prices higher in the next few months? Millennial homebuyers. “The perennially hot markets of Toronto and Vancouver are largely driven by the impact of ...

 

 

 

B.C. speculation tax changed to exempt Gulf Island properties

 

Modifications to the BC Speculation tax will see differential rates applied to those who hold vacant properties: BC residents who are Canadian citizens and permanent residents will pay 0.5% of assessed value, non-BC Canadian residents (again need to be a Canadian Citizen or permanent resident) will pay 1% of assessed value and foreign investors will pay 2%. 

 

 

 

The province has also defined long-term rentals as being 6 months, and exempted the Gulf Islands and rural parts of Vancouver Island and the Fraser Valley. For more information : Click Here

 

 

News – March 21, 2018 


Vancouver
 Condo Prices Rise At The Fourth Fastest Pace In History

Better DwellingLower condo sales and higher inventory should relieve some of the pricing pressure in Vancouver, right? Not according to numbers published by the Real Estate Board of Greater Vancouver. ... Greater Vancouver Real Estate Board (REBGV) numbers show that prices made a huge leap in February.

 


Interactive map: Where BC's biggest real estate deals were done

Business in Vancouver

So while there were fewer deals over $100 million on Business in Vancouver's Top 100 Real Estate Deals of 2017 list – six compared with eight in 2016 – the value of the deals ranked in the middle of the list increased. The rise in median real estate deal values is also supported by the declining value of ...


Vancouver
 Housing Advocates Rise Up to Tackle Unaffordability

TheTyee.ca

Vancouver's storm has common challenges like population growth and debates over land use. But there's also the challenge of domestic and foreign speculation. Media investigations have revealed that laundered casino and drug money is being funnelled into real estate. And on the national level, the ...

 


Canadian housing price index falls for the 4th time in 6 months

Mortgage Broker News

Meanwhile, even though Vancouver's price index saw increases in February, Pinsonneault cautioned that the trend is unlikely to last. Latest data from the city's real estate board supported this projection: Vancouversingle-family home sales fell 39.4% year-over-year in February

 

 

News – March 20, 2018 

 

Realtors question legality of new taxes as foreign buyers exit cooling Vancouver housing market ... 

 

ThinkPol 

 

Within real estate circles, the effect of new taxes aimed at foreign buyers cashing in on Vancouver's superheated housing market has been palpable. Shawn Anderson, a realtor with Engel & Völkers Vancouver, says the change has been a psychological one. “We've started to really notice the slow-down ...

 

 

 

How our prices rank in the world: Montreal (rising), Toronto (stable), Vancouver (easing, but ouch) 

 

The Globe and Mail 

 

Canadian cities are hardly cheap – Vancouver's costly and Montreal's getting pricier – but they're stable and far less expensive than many other cities .... whatever alternative trade facts President Donald Trump happens to spout because, by his own admission, he doesn't know if they're even real.

 

 

 

Vancouver learns some hard lessons after housing fight 

 

The Globe and Mail 

 

The smoke has cleared at the B.C. Court of Appeal, with the City of Vancouver emerging victorious over some residents in the Marpole neighbourhood who oppose a temporary housing project for homeless people. There is a lesson here for the opponents: Litigation can't remove homeless people from ...

 

 

 

City council to debate controversial new real estate tax 

 

KelownaNow 

 

The report is critical of the proposed tax, suggesting its negative impact on the local real estate market has not fully considered by the provincial government. ... The tax also affects homeowners in Metro Vancouver, the Fraser Valley as well as the Vancouver Island regions of Victoria and Nanaimo.

 

 

News – March 13, 2018 

Vancouver bid for new condos' charge stations likely won't hike prices 

Vancouver Sun 

A City of Vancouver proposal to ensure all parking spots in new condo buildings are equipped with charging stations likely won't boost the selling price of the units. City council on Wednesday is scheduled to vote on a staff recommendation to mandate that the number of electrical charging stations jump ...

 

Vancouver And Abbotsford-Mission Sweep Top Spots in Economic Growth In 2018 

Canada NewsWire (press release) 

This will shave growth in construction and in finance, insurance, and real estate. These were two of the region's top-performing sectors, but will throttle back along with Vancouver's housing market. Housing starts are anticipated to decline over the next two years, but will remain comfortably above the ...

 

'Twas ever thus? Vancouver real estate headlines 30 years ago 

Vancouver Courier 

It's easy to think that the problems facing Vancouver's housing market are relatively new. But if you take a look back at headlines from 20 or 30 years ago, you'll see a different story. Thanks to an extensive collection of real estate news clippings from Vancouver Courier columnist and local developer ...

 

Column: A wealth of reasons why BC's Speculation Tax misses the mark 

Richmond News 

This number was significantly lower than previous vacant home estimates, which had so often be seen by many as the cause of our housing affordability crisis. In fact, we will not know to what extent foreigners are using Vancouver real estate as a safety deposit box, nor how much money the city will ...

 

News – March 12, 2018 

 

BC home sales to fall as interest rates rise, but prices stay strong: BCREA 

 

Infosurhoy 

 

 

VANCOUVER – Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province's 10-year ... The British Columbia Real Estate Association has released its 2018 first quarter housing forecast, showing residential sales are expected to fall 8.6 per ...

 

Greater Vancouver housing demand to slow in 2018: BCREA 

 

Business in Vancouver 

 

Home sales across Greater Vancouver are expected to drop 8.2% this year after declining 10.5% in 2017, according to a new housing forecast from the British Columbia Real Estate Association (BCREA). The BCREA forecasts around 33,600 units sales will take place this year across the region, down ...

 

National housing starts hold steady in February 

 

Mortgage Broker News 

 

Vancouver played a large role in keeping national starts relatively stable, CMHC stated. “February housing starts in the Vancouver census metropolitan area (CMA) continued to build on the increase in construction activity in the previous month, leading to a strong start to the year in 2018. The North ...

Vancouver council to vote on bylaw requiring all new builds to be equipped with electric vehicle ... 

 

Vancouver Sun 

 

City council will vote this week on a bylaw amendment that would require all parking spots in new condos be equipped for electric vehicle charging. Mayor Gregor Robertson is pictured in this file photo posing with one of the city's electric vehicles and charging stations. Arlen Redekop / Vancouver Sun.

 

News – March 9, 2018 

BC home sales to fall as interest rates rise, but prices stay strong: BCREA 

Times Colonist 

A sold sign is pictured outside a home in Vancouver, B.C., Tuesday, June 28, 2016. Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province's 10-year average, although they warn rising interest rates could leave some B.C. households ...

 

2018 BC Budget: What It Means for BC Real Estate

Lexology 

[16] However, if the written agreement is assigned to a foreign entity or taxable trustee on or after February 21, 2018, then the foreign buyer tax will apply.[17] Moreover, no transitional period exemptions are available for transactions involving property located in the Greater Vancouver Regional District.

 

Vancouver's West Side real estate market experiencing major slowdown 

Straight.com 

It has all the earmarks of a housing market ready to go into decline. But for some reason, the average price of a West Side house this year still remains significantly higher than last year: $4.108 million to $3.745 million. It's a similar story with West Side condos. The number of units sold has fallen 33 ...

 

Vancouver levies property vacancy tax 

MacroBusiness (blog) 

Empty and deemed-empty properties will be sent a tax bill in mid-March with payment due by April 16. The bill is one per cent of the home's assessed value as of July 2017. Most of the 8,481 empty, underused or undeclared properties are condos, at 60.6 per cent. Single-family homes made up 33.5 per ...

 

Bank of Canada takes wait-and-see approach on NAFTA, housing debt with interest rate decision 

Business in Vancouver 

... Board of Trade event on Thursday (March 8), where Lane told a crowd of Lower Mainland business officials that - despite favourable conditions in places like B.C. - there are signs of uncertainty, most notably in free-trade agreements like NAFTA and in the housing markets of Vancouver and Toronto.

 

 

News – March 8, 2018 

 

Vancouver Empty Homes Tax To Affect Thousands Of Properties 

 

HuffPost Canada 

 

Nearly 8,500 homes have been declared vacant or underused in Vancouver after the submission deadline passed for the city's new empty homes tax. Condos and apartment buildings are seen in downtown Vancouver on February 2, 2017. VANCOUVER — Nearly 8,500 homes have been declared ...

 

 

 

Canada housing starts, building permits rise on condo strength 

 

Reuters 

 

OTTAWA (Reuters) - Canadian housing starts rose unexpectedly in February and building permits surged in January as demand for condos continued to bolster ... Condodemand has been strong in Toronto and Vancouver, in part because it is the only affordable housing left after a long boom spurred ...

 

 

 

Despite stricter mortgage rules, Vancouver home prices are rising. This expert explains why 

 

BuzzBuzzNews 

 

However, despite the stricter rules, home prices have continued to rise in Metro Vancouver and tight supply is to blame according to an economist from one of the country's biggest banks. ... Condos saw the largest year-over-year price gain, by far, rising 27.2 per cent to $682,800 from February 2017.

 

 

 

Homebuyer forum to address trends in alternative home financing 

 

News1130 

 

VANCOUVER (NEWS 1130) – It's a question almost every first time homebuyer faces in Metro Vancouver: How can we afford to purchase a place in such an unaffordable market? Many would-be property-owners have been forced to get creative, looking at alternatives to traditional real estate financing ...

 

 

News – March 7, 2018 

 

More than 2000 homeowners to be taxed under Vancouver's empty homes tax 

 

Vancouver Sun 

 

Of the nearly 8,500 homes that were declared vacant, condos accounted for 60.6 per cent while single-family homes made up 33.5 per cent. Multi-family properties and other types of housing accounted for just 5.9 per cent. The city will now conduct audits to verify declarations. Those who receive a ...

 

 

 

Vancouver homebuyer forum to tackle creative, risky buying strategies 

 

Vancouver Sun 

 

With Metro Vancouver home prices far outpacing local incomes, some residents have considered or used creative, complicated, and in some respects riskier buying options to get a foothold on the property ... And if you can't afford to buy land, look for condos near transit hubs and educational institutions.

 

 

 

RBC chief issues warning to foreign investors in Canadian real estate

 

The Globe and Mail 

 

"We do not need foreign capital using Canadian real estate as a piggy bank," David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based ... A surge of foreign money into Canadian housing had been adding "gasoline" to markets in Vancouver and Toronto, McKay said.

 

 

 

There's a home shortage for the 65+ population in Vancouver. Here's the key to fixing it 

 

BuzzBuzzNews 

 

As Vancouver faces a housing shortage and the city's population ages, international developer Grosvenor says densification is needed to increase ... Although there is currently demand for new residential condos in the city, Patillo says there is resistance to these types of developments, particularly in ...

 

 

 

 

News – March 1, 2018 

 BC's new taxes on $3M homes could lean hard on Vancouver's west side, maps show 

Globalnews.ca 

They show that there's a $3-million line where another boundary once divided Vancouver between areas with single-detached homes worth $1-million or less. And now, that new line marks out which properties could be hit with a pair of new taxes that were introduced with the 2018 provincial budget.

 

Canadian commercial real estate set to break investment record for third consecutive year in 2018 

BuzzBuzzNews 

According to the commercial real estate and investment firm, 2018 could see commercial real estate “set a historic treble of consecutive investment ... this growing demand until at least 2020, CBRE predicts downtown vacancy will dip to 3.3 per cent in Toronto and 4.9 per cent in Vancouver this year.

 

Home search: Quick thinking wins the race for Yaletown condo owner 

Straight.com 

Then I started to like living in Vancouver,” she said. Demand for homes remains high in Vancouver and nearby cities, especially for condos. According to a recent report by the Real Estate Board of Greater Vancouver (REBGV), the average sales to active listings ratio for properties in January 2018 was ...

 

Debate sparked over BC budget's housing crisis initiatives 

Business in Vancouver 

Indeed, a glance at the Real Estate Board of Greater Vancouver's benchmark price for housing in the region shows a 75% increase since the province introduced a heightened tax on foreign nationals' purchases of residential properties in Metro Vancouver. The increase occurred even as foreign ...

 

Concert Properties' Burquitlam proposal gets first glance 

Business in Vancouver 

This area is currently zoned for three-storey apartments with approximately 200 units still being rented and a relocation plan being worked out for residents. The developer seeks a rezoning to construct six towers — two 37-storey rental towers, with approximately 654 units, four market condominium ...

 

News – February 28, 2018

BC's new taxes on $3M homes could lean hard on Vancouver's west side, maps show 

Globalnews.ca 

B.C.'s new taxes on properties worth $3-million or more could lean hard on West Vancouver and Vancouver's west side, traditionally some of the ... That doesn't necessarily mean that most of the taxation will be concentrated in this areas — the maps don't account for condos or townhomes worth that ...

 

Want a brand-new, completed home? Look outside Vancouver

Vancouver Courier 

The development industry body's quarterly State of the Market analysis, carried out for the UDI by research group Urban Analytics, found that there were just two townhomes(both priced above $1 million) and one solitary new condo that were completed and available for sale within Vancouver proper, ...

 

Developer plans to revive Hollywood Theatre, add condos

Vancouver Courier 

A development company has applied to the City of Vancouver to restore and revive the former Hollywood Theatre on West Broadway near Macdonald Street, and build an adjoining mixed-use retail and condo building. The company, 4184 Investments, Ltd., is proposing that the theatre – which was built ...

 

OPINION: BC NDP searching for 'sweet spot' in housing market 

Burnaby Now 

Of course, on the flip side, the NDP has to take care their package of housing measures do not cause a real, prolonged and steep decline in prices. The Bank of Canada has estimated that a 25 per cent price drop would put one-in-four homeowners in Metro Vancouver “underwater”, which means their ...

 

Domestic bank loans are also to blame for red-hot real estate: study 

Globalnews.ca 

A new study says while housing speculation and lack of supply are often talked about, bank lending is also part of Metro Vancouver's housing crisis. ... According to a new study by the B.C. Government & Service Employees' Union (BCGEU), there's a missing element in the region's housing crisis.

 

 

News – February 27, 2018

 

Why BC's new real estate speculation tax is not a speculation tax 

 

Vancouver Courier 

 

I was among many who supposed this would take the form of a tax applied upon the sale of a property – say, if a home is flipped by a non-resident within a certain limited time period. For example, a non-resident (for tax purposes) owner who sells a Vancouver home within a year of buying it would have ...

 

 

 

NDP housing plan double-counts thousands of Liberal units 

 

Vancouver Sun 

 

She said that meant a Vancouver project with 61 units saw planned rents of $2,428 a month for three-bedroom units fall to $1,663, and rents of $950 for one-bedroom units fall to $845. In a Kelowna project, she said it drove the price of a three-bedroom unit from $1,483 a month to $1,129. “What would be ...

 

 

 

Hong Kong's Aoyuan has big plans in Vancouver, Toronto 

 

Real Estate News EXchange 

 

In Toronto, Aoyuan's $201-million acquisition of property at 5799 to 5915 Yonge St. and 46-47 Averill Cr. from Silvercore Inc. in September was the 10th-largest commercial real estate transaction of 2017 in the GTA. It will be the company's largest master-planned community in Canada. Aoyuan will ...

 

 

 

When it comes to Vancouver real estate, millennials don't appreciate comparisons to the 90s 

 

CBC.ca 

 

Do you ever see a comment online that you just have to respond to? It happened to me this weekend. There was an online debate about — what else is new — Vancouver real estate, and young people feeling they have to leave the region because it's too expensive. Laura Ballance, the owner of a PR ...

 

 

News – February 26, 2018

Home prices fall by up to 73% in Metro Vancouver as BC budget begins to bite 

ThinkPol 

Home prices in Metro Vancouver are falling by as much as 73%, suggesting that budget measures announced by the NDP government to promote affordable housing by tackling rampant crime, corruption and speculation in the real estate market is beginning to work even before they come into force.

 

Study, panel explore missing element in Vancouver's housing debate: banks 

MetroNews Canada 

Finch said the B.C. NDP's first full budget, released last week, contained some promising elements on housing, including luxury real estate tax measures — but warned that without more focus on land taxation, speculators could simply shift their activites into the $500,000 to $1 million range of homes ...

 

Green Party pressures BC government to specify what 'moderating' housing market means 

CBC.ca 

In response, B.C. government officials have pointed out that it only affects homes in the regional districts of Metro Vancouver, Fraser Valley, Nanaimo, Victoria and the municipalities of West Kelowna and Kelowna — meaning the vast majority of lake and mountainside cottages and chalets will not be ...

 

Surprise ruling may be end of Vancouver condo 

The Globe and Mail 

The majority voted against it. The project was then scaled back to 90 feet, with no social housing, and went to the city's development-permit board, where Vancouver's three top bureaucrats voted 2-1 against it. It was the first time in the history of the board, which was created in 1974, that a project was ...

 

 

News – February 23, 2018

 

Mixed reviews for BC's efforts to cool the hot housing market 

 

CTV News 

 

Cameron Muir, chief economist at the Real Estate Board of B.C., said plans to help build 114,000 affordable housing units will offer much needed supply for rental and low-income properties. But he said a tremendous undersupply of available homes in Metro Vancouver, Victoria and Kelowna, coupled ...

 

 

 

Budget housing measures to impact West Vancouver

 

North Shore News 

 

West Vancouver Mayor Michael Smith said he supports the goal of ending speculation in the real estate market, but isn't sure the province is going about it the right way. To really make an impact, those who invest in housing just to flip it should have their profits taxed as business income, said Smith.

 

 

 

It's time to move on from single family homes, says UBC sociologist 

 

CBC.ca 

 

"This was really a pretty broad swipe at actually trying to improve the housing circumstances for a lot of people in B.C.," he told Stephen Quinn, the host of CBC's The Early Edition . Roughly 80 per cent of of Metro Vancouver is still zoned for single family homes. When it comes to densification, attitudes ...

 

 

 

Real estate industry casts doubt on BC's housing affordability plan 

 

CBC.ca 

 

Muir also questioned the expanded foreign buyers tax, which is increasing from 15 to 20 per cent, and extending to regions outside Metro Vancouver to include the Fraser Valley, Victoria, Nanaimo and the Central Okanagan. He argues only 0.3 per cent of home sale in Kelowna in 2017 were foreign ...

 

 

 

Global responses to hot housing markets: from taxes to tightened rules 

 

The Globe and Mail 

 

The story in Australia, particularly in Sydney and Melbourne, is similar to that of Vancouver: a housing price boom fuelled by factors that include a strong economy and overseas buyers. Last spring, the country's banking regulator, the Australian Prudential Regulation Authority, made what looked like a ...

 

 

 

Thousands of properties undeclared as empty homes tax deadline looms in Vancouver

 

News1130 

 

“With a near-zero vacancy rate in Vancouver, our key goal is to shift empty or under-used housing into the rental market. The City has done extensive advertising and notifications about the Empty Homes Tax for more than a year — all homeowners should know that they have to file a declaration, or their ...

 

 

News – February 22, 2018

 

Vancouver City Council passes motion calling for real estate 'flipping tax' 

 

Globalnews.ca 

 

The provincial government unveiled a suite of new taxes aimed at cracking down on property speculators on Tuesday, but Vancouver City Council says it doesn't go far enough. Tuesday's provincial budget included a new two per cent tax on property speculators, an expansion to the foreign buyers' tax ...

 

 

 

New condos on former Mount Pleasant coffee shop site now up for pre-sale 

 

Vancouver Sun 

 

Condos that will soon sit on the Mount Pleasant lot where Bean Around The World used to be are now for sale – which you can afford if you give up about 200,000 lattes. The development located at Main Street and Twentieth in Vancouver's Mount Pleasant – named Main & Twentieth – is currently being ...

 

 

 

BC unveils housing plan that raises foreign buyers levy and taxes speculators 

 

CTV News 

 

VICTORIA -- British Columbia is raising its foreign buyers tax and expanding it to areas outside of Vancouver, while bringing in a new levy on ... Cameron Muir, chief economist at the B.C. Real Estate Association, said the tax could hit B.C. residents who have vacation properties or second homes, as the ...

 

 

 

Canadians with BC vacation homes to be hit with new tax 

 

The Globe and Mail 

 

Rooftops of houses in the Kitsilano neighbourhood and the downtown core are seen in the hot real estate market of Vancouver in 2017. ... British Columbia's new property tax targeting out-of-province owners will hit Albertans and other Canadians who have vacation homes there with a big additional bill ...

 

 

 

Vancouver's hot housing market just got tougher for wealthy Chinese 

 

Financial Post 

 

An Airbnb Canada ad for a Coal Harbour studio view in Vancouver. Airbnb Canada. Separately, the government and Airbnb Inc. have reached an agreement requiring the company collect an 8 per cent provincial sales tax and as much as a 3 per cent local tax on short-term rentals, according to budget ...

 

 

News – February 21, 2018

 

'Dual agency' real estate rules booted to June 

 

 

Business in Vancouver 

 

The date change follows publication of “New 'Dual-Agency' Rules Sowing Seeds of Confusion” (Business in Vancouver issue 1475; February 6-12) that reported on widespread confusion and fear in the residential real estate industry over how the Real Estate Council of BC (RECBC)was planning to ...

 

 

 

BC Budget 2018: Big spending on child care, housing; foreign buyer tax expanded 

 

Vancouver Sun 

 

Janet Austin, CEO of the YWCA Metro Vancouver, said her organization was “very pleased” with both the child care and housing announcements, because the YWCA offers both services. She said government hit the right notes of affordability, maintaining spaces and quality of care in the child care plan.

 

 

 

British Columbia Cracks Down on Foreign Housing Speculators 

 

Wall Street Journal 

 

Soaring real-estate prices of more than 30% in a single year prompted British Columbia in the summer of 2016 to slap a 15% tax on house purchases by non-Canadians in the Vancouver market, making it the first jurisdiction in the country to take such a step. Vancouver housing prices slowed in the ...

 

 

 

Vancouver Ranked #4 City In The World Most At Risk For Real Estate Bubble 

 

Narcity 

 

As we all already know, Vancouver's housing market is a bit of a gong show and this ranking probably shouldn't come as much of a surprise to us. But rather, simply confirming that our city continues to be a risky investment. UBS is a Swiss global financial institution that publishes a Global Real Estate ...

 

 

 

Young families wanting tougher stance on affordability crisis look to BC budget 

 

CBC.ca 

 

Affordability is top of mind for many people living in Metro Vancouver who are looking at the 2018 B.C. budget for answers and solutions. Alec Smecher, a Vancouver ... Property taxes, utilities and child care are all going up and driving families out of the neighbourhood, she said. "Ongoing costs keep ...

 

 

News – February 20, 2018

 

BC readies housing affordability plan amid skyrocketing home prices and soaring rents 

 

Financial Post 

 

Condos and apartment buildings in Vancouver. Experts anticipate a mix of supply and demand levers in the B.C. NDP's new housing policy, including a speculation tax and a widening of Vancouver's foreign buyer tax, introduced by the previous Liberal government in 2016, to include more cities.

 

 

 

Vancouver city councillor wants foreign-buyer restrictions on real estate 

 

MetroNews Canada 

 

Vancouver city councillor Adriane Carr plans to introduce a motion Tuesday asking council to support restrictions on foreign buyers in the real estate market, ... planner Andy Yan, have called attention to the issue by releasing statistics that show non-residents own 10 per cent of the condos in Vancouver.

 

 

 

Canadian families find unexpected benefits from living in small spaces 

 

The Globe and Mail 

 

Adrian Crook hadn't always intended on raising his five kids in a three-bedroom condo in downtown Vancouver. But skyrocketing real estate and rental markets across much of the country have some families choosing small spaces over suburban sprawl – and finding unexpected benefits. Crook moved ...

 

 

 

Vancouver mentioned its plans to address housing crisis in bid for Amazon HQ2 

 

The Globe and Mail 

 

Vancouver's ultimately unsuccessful bid to get Amazon's second headquarters included an entire page dedicated to reassuring the company that governments are tackling the region's housing crisis. While the 26-page document sold the region as a place that is green, rich in well-educated potential ...

 

 

 

In NDP's 1st budget, housing advocates 'finally' get to see what BC government will do 

 

CBC.ca 

 

What's the best word to describe the talk around the budget the B.C. government will present on Tuesday? Speculative. "There's a lot to be hopeful about, and we're looking to see if the hard numbers in the budget match that ambition," said Alex Hemingway, a public finance policy analyst with the ...

 

 

News – February 19, 2018

 

Clark County buyers eager for condos, but developers skittish 

 

The Columbian 

 

Prestige Development has twin apartment buildings, paired as Our Heroes Place, going up in downtown Vancouver near the intersection Southeast Mill Plain Boulevard and D Street. One of the towers may be converted into condominiums, Kassab said, but that decision is still at least a month away.

 

 

 

BC budget to include comprehensive housing plan: Finance Minister 

 

BNN 

 

Recent statistics from the Real Estate Board of Greater Vancouver shows the average price of a detached home was $1.6 million, and the average price of an apartment was $665,400. Vacancy rates for renters are at one per cent or lower in most cities across B.C., including Victoria and Kelowna.

 

 

 

Big family, tiny space: Canadians are increasingly embracing small living 

 

Toronto Star 

 

VANCOUVER—Adrian Crook hadn't always intended on raising his five kids in a three-bedroom condo in downtown Vancouver. But skyrocketing real estate and rental markets across much of the country have some families choosing small spaces over suburban sprawl — and finding unexpected ...

 

 

 

Youth pay the price for British Columbia's real estate crisis 

 

The Globe and Mail 

 

If you analyze the census data, it becomes incredibly clear that a large portion of the money being used to purchase real estate in Vancouver has not been earned in Vancouver. We are told that outside buyers are a small but significant portion of the purchases in the market. But these statistics don't ...

 

 

 

Mixed emotions greet Vancouver temporary housing project 

 

The Globe and Mail 

 

In a couple of weeks, it will be given to one of 78 people moving into Vancouver's newest temporary housing project for the homeless – an experiment that is a first for any North American city with its model of putting stacked trailer-like units onto temporarily vacant properties around the city.

 

 


News – February 16, 2018

B.C's loans for first-time home buyers saw little pickup last year, report finds 

The Globe and Mail 

From January to September last year, 1,395 loans were paid or approved through the B.C. Home Owner Mortgage and Equity Partnership, with about a third of those buyers purchasing condos or townhouses in Metro Vancouver – or 1.2 per cent of all home sales in that region, the report says.

 

Still over a million dollars, average house prices drop one percent in Metro Vancouver

Straight.com 

... Vancouver in January this year was $1,036,968. MARTIN BARRAUD/GETTY IMAGES. There was a slight drop in average home prices in Metro Vancouver last month. Prices decreased one percent in January 2018 compared to December 2017. Based on figures released by the B.C. Real Estate ...

 

Burrard Place redevelopment progresses 

Business in Vancouver 

“Two Burrard Place will be mid-block on Hornby Street and it has already been rezoned and we're now applying for a development permit,” Reliance Properties CEO Jon Stovell told Business in Vancouver. The fourth ... “That's different from the other two towers, which are mixed use but mostly condos.”.

 

West Vancouver to call on province for tax burden shift 

North Shore News 

Under the current law there are only nine different tax classes: residential, business, farm, light industry, major industry, utilities, managed forest land, recreational and supportive housing. But the residential class, which comprises almost all of West Vancouver's land, covers everything from monster ...

 

Canadian home sales hit lowest level in three years

Toronto Star 

The uncertainty that has consumers taking a step back from the housing market will persist unless the government addresses the shortage of supply in Toronto and Vancouver, said CREA. “The piling on of yet more mortgage rule changes that took effect starting New Year's Day has created homebuyer ...

 

News – February 15, 2018

Canadian home prices rise as Toronto sees first gain in 6 months

CBC.ca 

Toronto's housing market pulled back last year after Ontario implemented a series of measures such as restricting foreign buyers to cool the once ... House prices in Vancouver rose 1.2 per cent, making it the main contributor to the index. ... Housing price increases in Fraser Valley outpace Vancouver.

 

Looking for a new condo for half a million? Forget Vancouver

Vancouver Sun 

New real estate data that compares what $500,000 can buy in newly built condos in cities across Canada turned up nothing in the city of Vancouver. The Altus Group survey said that buyers would have to go to a nearby city such as Burnaby to find projects offering one bedroom units at this price point

 

There isn't enough industrial real estate in Metro Vancouver: report 

Globalnews.ca 

In a report from real estate company CBRE, Metro Vancouver's industrial vacancy rate dropped from 3.9 per cent to 2.3 per cent between 2016 and 2017, and they predict that by the end of 2018 it will fall to a historic 1.7 per cent. The report says rent is up 13.6 per cent year-over-year in Metro Vancouver, ...

 

Construction wages expected to increase 10%: ICBA 

Business in Vancouver 

In the wake of announcements that construction job growth will increase substantially over the next 3 years, a recent survey indicates that construction wages will also increase nearly 10% over the next couple years. In a study recently released by the Independent Contractors and Business Association ...

 

Canadian home sales, listings slump in January with arrival of new mortgage rules 

CBC.ca 

... of the national housing market is well balanced, with local markets responding appropriately to varying fundamentals and policy shocks. In the [Greater Toronto Area], the detached market is still absorbing additional measures taken at the provincial level, while condo markets in Vancouver and Toronto ...

 

News – February 14, 2018

 

No new condos in Vancouver for $500K or less 

Vancouver Courier 

 

A national survey of what $500,000 buys in newly built condos was unable to find a single example in Vancouver proper – the only city in the survey to have zero stock of new units under $500K. The latest condo market survey from real estate data company Altus Group said that buyers would have to go ...

 

 

Vancouver drives house price index in January: National Bank 

Advisor.ca 

 

Vancouver drove the index for the second straight month, said Marc Pinsonneault, senior economist at National Bank, in a report on the index. “Without Vancouver, the composite index would have retreated for a fifth month in a row.” On a year-over-year basis, Vancouver's index for condos surged 23.0% ...

 

 

BC down payment loans boosted home prices 0.6 per cent 

Vancouver Courier 

 

The authors said that Metro Vancouver condo prices had risen by 18.61 per cent on an annual basis, as of September 2017, and that based on their SALR model, if the HPP-purchased condos had never been purchased and remained in supply, the annual condo price increase would have been 18.06 ...

 

 

British Columbia to curb housing speculation, crack down on tax cheats 

Reuters 

 

VANCOUVER (Reuters) - The British Columbia government pledged on Tuesday to curb speculative demand and stabilize “out-of-control” housing markets in the province, ... She said the budget would offer measures to address the effect of speculation on real estate prices, but provided no other details.

 

 

One-third of baby-boomers helping millennials buy real estate

Vancouver Courier 

 

It found that one-third of boomers plan to transfer wealth – within their own lifetimes – to their beneficiaries (mostly their adult children) with the specific purpose of helping them buy real estate. This proportion increases to 36 per cent in the Vancouver region. The median age of recipients of these “living ...

 

News – February 13, 2018

 

Vancouver's rental, housing markets pressed by 'temporary' residents 

Times Colonist 

Metro Vancouver's young adults are increasingly competing with international students, foreign workers and financially supportive offshore parents to buy a home or find a place to rent. A Canada Mortgage and Housing Corporation report released this week shows international students and temporary ...

 

CMHC: A Quarter of Vancouver Real Estate Price Increases Can't Be Explained 

Better Dwelling 

Vancouver real estate is some of the priciest in the world, and people are struggling to figure out why. The Canada Mortgage And HousingCorporation (CMHC) studied major urban markets, and modeled where they should be. The government owned organization concludes that a quarter of 

 

Northeast False Creek plan critics lament loss of Vancouver's mountain views 

CBC.ca 

Ma said she's not opposed to condos being developed in the area — just their height. She said Vancouver is one of the few cities in the world with such spectacular views. "This is a free public asset and free public amenity that everyone can enjoy," she said. "In terms of what is being built to cover those ...

 

West Vancouver's coolest house? Listed for a cool $22.88M 

Vancouver Courier 

Listing agent: Matt Gul, Personal Real Estate Corporation. The architect, Russell Hollingsworth – son of renowned architect Fred Hollingsworth and an acclaimed architect in his own right – designed and built the home in 2012, and it is one of several homes in the community he has designed. West Van ...

 

Vancouver unveils Marpole temporary modular housing 

Vancouver Sun 

The units in the modular apartment building set to open in Marpole this month are small, just 250 sq. feet, but each will offer a homeless person their own small kitchen and bathroom with a shower stall. Officials took journalists on a tour of the temporary apartment block, built of prefabricated units, that is ...

 

 

News – February 9, 2018

  

West End proposal mixes ultra-luxe condos with social housing 

 

Vancouver Courier 

 

Last fall, developer Landa Global proposed this 21-storey tower for Vancouver's West End – and now local residents will have their say on the proposed ... Rafii Architects' ultra-modern design is based on two towers of building blocks at varying angles, and contains just two luxury condos per floor, which ...

 

Sales of attached properties above historic averages 

 

The Record (New Westminster) 

 

“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” said board president Jill Oudil. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it's important ...

  

4 charts that show how foreign buyers' taxes can yank prices down in Vancouver, and elsewhere 

 

Globalnews.ca 

 

The CMHC carried out its research at the behest of the federal Ministry of Families, Children and Social Development, which wanted answers about why home prices have sprung up so rapidly in major Canadian cities since 2010. The report looked at home prices in Vancouver, Calgary, Edmonton, ...

  

Chilliwack real estate sales remain steady, prices continue to rise 

 

Agassiz-Harrison Observer 

 

New, stricter mortgage rules in place as of Jan. 1 may have cooled the local market slightly, but with the fewest numbers of listings in a decade, prices continue to rise and the Chilliwack and District Real Estate Board (CADREB) area remains a seller's market. Those homes that are being snapped up are ...

 

District of North Van advances Maplewood Village development plan 

 

Business in Vancouver 

 

Despite concerns over residential/industry conflict and ever-present gridlock, District of North Vancouver council amended their official community plan ... some of the most passionate advocates for affordable non-market housing are voting against the plan that delivers the most non-market housing that ...

 

News – February 6, 2018

 

Vancouver's condos, townhomes in high demand 

Mortgage Broker News 

In its latest report, the Real Estate Board of Greater Vancouver said that demand will continue to be high for condominiums and townhomes in the region, ... looks at how many properties sold compared with those listed, was 57.2% for condos, 32.8% for townhouses, and 11.6% for detached properties.

 

False Creek Flats area faces soaring price pressure 

Business in Vancouver 

The first speculative developers on Vancouver's False Creek Flats might be the last to see land prices at less than $500 per square foot. ... His clients, PCI Developments and Low Tide Properties, bought 565 Great Northern Way, a 1.85-acre site in the Flats, in 2016 for $34.6 million, or $430 per square ...

 

New 'dual agency' realty rules sowing seeds of confusion 

Business in Vancouver 

The report was triggered by a handful of high-profile cases of misconduct in Metro Vancouver. Lawyer Michael Noseworthy was later appointed as superintendent of real estate to oversee the council. The province also appointed new members to the council. Fines for real estate agents engaged in ...

 

Canadian mortgages held by foreigners grow, says housing agency 

Reuters 

FILE PHOTO: A real estate for sale sign is pictured in front of a home in Vancouver, British Columbia, Canada, September 22, 2016. REUTERS/Ben Nelms/File Photo. For the report, non-permanent residents included foreign workers, students, refugee claimants and other non-Canadians living in ...

 

Metro Vancouver residents demand transparency over modular housing tenants they fear could ... 

CBC.ca 

Derek Palaschuk, a spokesperson for the Vancouver Caring Citizens Association in Marpole, said their research shows that each housing project is required to have 20 per cent of tenants classified as higher needs or what B.C. Housing calls Service Level 3. This is a group that, according to a city ...

 

 

News – February 5, 2018

 

Condos, townhomes in high demand in Metro Vancouverreal estate board says 

CBC.ca 

The Real Estate Board of Greater Vancouver says demand continues to be high for condominiums and townhomes in the region, but less so for detached properties. The board says 1,818 homes sold in January — up 19.4 per cent from the same time last year, but down 9.8 per cent from December 2017 ...

 

Affordable rental homes included in proposed downtown Vancouver luxury condo development 

Straight.com 

The rentals will be built on the second and third floors of the proposed 21-storey condo tower at southwest corner of Alberni and Denman streets. More than half of the rentals will be bachelor suites and one-bedroom units. High-end condos will occupy the upper 18 floors of the development, which has ...

 

Vancouver's Oakridge mall gets a makeover – and a new lease on life 

The Globe and Mail 

The site, in the 1950s, was one of the last areas of the City of Vancouver to be developed. In the 1980s, the mall was renovated and some office space was added alongside several dozen condos. In 2007, then owner Ivanhoé Cambridge, the real estate arm of Quebec's public pension plan, put out a ...

 

Vancouver House That Needs A 'Little TLC' Is All Yours For Almost $7 Million 

HuffPost Canada 

Prices of detached homes in Vancouver might be taking a (very, very slight) dip, but this property is here to show us that the city's real estate market hasn't lost its ability to be astronomically inaccessible to the ... The house was listed in 2015 for $2.1 million, according to an article in the VancouverSun.

 

North Vancouver mayors tackle condos and commutes 

Vancouver Courier 

City of North Vancouver Mayor Darrell Mussatto and District of North Vancouver Mayor Richard Walton speak to Chamber of Commerce members at the ... The high quality of life on the North Shore means its real estate will always be in high demand, regardless of how much supply we add, Walton said, ...

 

News – February 2, 2018

 

Condo, townhome demand rises in Metro VancouverReal estate board 

BNN 

VANCOUVER - The Real Estate Board of Greater Vancouver says demand continues to be high for condominiums and townhomes in the region, but less so for detached properties. The board says 1,818 homes sold in January -- up 19.4 per cent from the same time last year, but down 9.8 per cent from ...

 

North Vancouver mayors talk condos, commutes, congestion 

North Shore News 

“They all say we can't get enough workers to come here because it's too expensive to live here and if they're going to work at a Starbucks, they might as well work at the one in Surrey where they live and not the one in North Vancouver,” Mussatto said. The city has been adding to its housing supply, ...

 

UBCM seeks measures to cool real estate speculation in BC 

Vancouver Sun 

Greg Moore, Metro Vancouver chairman and mayor of Port Coquitlam, talks about the report on housing released by the body that represents B.C. ... “It's very, very hard to stop the charging locomotive of a rising real-estate market,” said Ley, who was on the committee that drew up the UBCM report, ...

 

BC cities call for tax changes to address housing affordability 

CTV News 

VANCOUVER -- A group that represents municipalities in British Columbia is calling for significant tax and regulatory changes for a comprehensive approach to more affordable housing. The Union of B.C. Municipalities has issued a report containing 32 recommendations for provincial and federal ...

 

Vancouver homeowner says Empty Homes Tax is hurting those with second homes 

Globalnews.ca 

Borkenhagen said that even if they tried to rent it again, the rent would be too high to actually help younger people looking for a home. “What Vancouver is trying to do is loosen up the rental housing for the millennials and the average rent for a millennial is somewhere between $900 and $1,200 a month ...

 

 

News – January 31, 2018

 

Housing price increases in Fraser Valley outpace Vancouver

CBC.ca 

 

The Canadian Mortgage and Housing Corporation says demand for less expensive condominiums and apartments in North Delta, Surrey and Langley has inflated prices at a sharper rate than in Vancouver. The CMHC's latest Housing Market Assessment for the first quarter of 2018 shows that ...

 

 

Real estate market interventions are expected to curb first-time buyers' enthusiasm 

 

Financial Post 

 

Despite slowing growth in prices, real estate markets in Toronto, Vancouver, Hamilton and Victoria all showed strong signs of overvaluation, with house prices high relative to incomes, mortgage rates and population, the Canada Mortgage and Housing Corporation said in its latest housing market ...

 

 

BC city named Canada's No. 2 place for millennials, and it sure isn't Vancouver

Globalnews.ca 

 

 

That includes more condos and townhomes — “creative housing opportunities that millennials are looking for,” Kerr added. There's construction all over the city, in what is a clear sign of the demand for housing. It's transforming the city's skyline, and its reputation as a sleepy capital. Vancouver ...

 

Modular housing project proposed near Olympic Village SkyTrain station 

CBC.ca 

 

Vancouver plans to build 600 temporary modular housing units around the city with the newest project proposed near the Olympic Village SkyTrain station. If the project goes through, part of a parking lot in the 500 block of West Second Avenue, just off Cambie Street, would be replaced by a ...

 

 

Andrew Weaver to put forward Green Party housing policy recommendations 

CBC.ca 

 

The day after his City of Vancouver counterpart called for action on the file, B.C. Green Party Leader Andrew Weaver says he will outline his party's ideas for improving housing affordability in the province Wednesday. Weaver, whose party holds the balance of power in the legislature, did not elaborate ...

 

 

News – January 30, 2018

 

How over 46000 wealthy immigrants took a back door into Vancouver and Toronto's housing markets 

 

Globalnews.ca 

 

Over 46,000 wealthy immigrants took a back door into Vancouver and Toronto's housing markets over the past three decades, according to custom Census data obtained exclusively by Global News. That back door is the Quebec Immigrant Investor Program (QIIP). Established in 1986, it offers ...

 

 

 

Vancouverites have 4 days left to submit empty homes declarations 

 

CTV News 

 

“It's unacceptable for so many homes to be sitting empty or under-occupied in Vancouver when people who live and work here are struggling to find secure and affordable housing,” Mayor Gregor Robertson said in a statement. The mayor has said the tax could put as many as 25,000 back on the rental ...

 

 

 

CMHC says national housing market still 'highly vulnerable' for 6th straight quarter 

 

CBC.ca 

 

In Vancouver, the market remained highly vulnerable, with some evidence of moderate overheating and price acceleration, and a high degree of vulnerability related to overvaluation. CMHC said demand and supply imbalances persisted in the resale home market, especially for multi-family units.

 

 

 

Vancouver renters' union forms to fight soaring costs in city's housing market 

 

The News 

 

VANCOUVER — Rising rental costs, evictions and a scarcity of units in Vancouver's densely populated West End were among the reasons for Gail Harmer's decision to join a group that is taking a new approach to advocating for the rights and protection of tenants. The Vancouver Tenants Union formed ...

 

 

 

Once-hot Toronto housing now has buyers 'sitting on sidelines' as lending rules bite 

 

BNN 

 

And just when you think the Canadian housing market is down for the count it tends to find a second wind. Vancouver's housing market plunged for five months after policymakers introduced a foreign-buyers tax in 2016 but has been recovering steadily since last year. Toronto's economy meanwhile is ...

 

 

News – January 29, 2018

This chart shows how much Greater Vancouver home prices have climbed over the past 4 decades 

BuzzBuzzNews 

Greater Vancouver is one of Canada's — and the world's — most expensive housing markets, but 40 years ago it was a very different story. In 1977, the average sale price of a home in Greater Vancouver was roughly $90,000, according to the Real Estate Board of Greater Vancouver's(REBGV) chart ...

 

Canadian pension funds eye further real estate allocations 

The Investor JLL 

Canadian pension funds have been steadily upping their total allocation to real estate, from 9.43 percent in 2011 to 11.76 percent by the end of 2016, ... “While edge-of-CBD office demand in Vancouver, Montreal and Toronto remain strong, suburban demand has increased recently as well,” he said.

 

Langley City sets $100 million construction record 

Aldergrove Star 

Add to that, the fact the City has kept development cost charges under control, winning a “Municipal Excellence Award” from the NAIOP Commercial Real Estate Development Association Vancouver chapter (formerly known as the National Association for Industrial and Office Parks). NAIOP declared the ...

 

Editorial: BC's south needs more northern exposure 

Business in Vancouver 

Metro Vancouver's regionally self-involved might consider the north a rural backwater of isolated communities that specialize in logging and mining and dabble in energy development. It might generate some ... The north's real estate and other costs of living are cheaper than the south's. Its population is ...

 

Opinion: Robertson is out, here are five reasons Mayor Corrigan shouldn't seek re-election as well 

ThinkPol 

Everyone in Metro-Vancouver knows we are in the middle of a development frenzy with high priced glass towers going up in every vacant parcel of land available. While other municipalities have tried to stymie redevelopment to protect existing affordable rentals from the wrecking ball, Mayor Corrigan ...

 

 

News – January 26, 2018

 

Vancouver to adopt 'locals-first' housing strategy 

 

The Globe and Mail 

 

The locals-first initiative is just one of many strategies that Vancouver and other cities in the region are experimenting with, along with limits on short-term vacation rentals and taxes on empty homes, as they try to grapple with a housing market that feels increasingly out of reach for average buyers.

 

 

 

Could family-sized laneway homes be on Vancouver's housing horizon? 

 

Vancouver Courier 

 

The goal is to find out more about laneway homes, including who is living in them and what they're like as homes. The survey is part of the city's laneway housing review, which was approved in November 2017, as part of the city's Housing Vancouver strategy and three-year action plan for 2018 to 2020.

 

 

 

Making room for Amazon is Canada's and Toronto's housing challenge: Don Pittis 

 

CBC.ca 

 

He cites the "socialism for the rich" argument proposed by University of British Columbia economist Tom Davidoff, which sees single-family housingprotected by municipal laws as an unfair consumption of public wealth. While Vancouver may face a relative shortage of building space due to its ...

 

 

 

New rental building proposed for East Hastings 

 

Vancouver Courier 

 

The policy is intended to help the City reach its goal of creating 5,000 new units of market rental housing by 2021, according to the City of Vancouver's website. It offers developers incentives to build Rental 100 projects, including development cost levy waiver, reduced parking and unit size requirements, ...

 

 

 

Douglas Todd: How Canada's most expensive municipality grew alert to foreign capital 

 

Vancouver Sun 

 

West Vancouver is not as politically polarized as Vancouver, where the so-called “west side” of the city equals the suburb of West Vancouver in regards to ultra-wealthy real estate investors and a “severe” unaffordability ratio (of housing costs to median wages) of 13 to one, worse than New York City.

 

News – January 25, 2018

Vancouver Condo Listings Rise Over 52%, Prices Still Print New All-Time High 

Better Dwelling 

Vancouver real estate is a lot cooler than last year, except in the condo market. Numbers from the Real Estate Board of Greater Vancouver (REBGV) show that condo prices printed a new all-time high. This climb came even though the growth in inventory is beginning to outpace the growth of sales.

 

Final plan for Northeast False Creek goes before council 

Vancouver Courier 

The City of Vancouver's final plan for Northeast False Creek, which envisions the delivery of 1,800 affordable homes, 32 acres of new and renewed parks, and ... Its vision to deliver about 1,800 affordable homes amounts to “one of the largest deliveries of affordable housing in British Columbia's history,” ...

 

Arbutus Village developer wants more density – because of housing crisis 

Vancouver Courier 

The developer of the upcoming Arbutus Village has applied to the City of Vancouver to add an extra 113,519 square feet to the project, saying, “Since the Arbutus Centre Rezoning was approved in 2011, the housing crisis has worsened in Vancouver.” The 1970s shopping centre is being redeveloped ...

 

Heritage homes at risk of bulldozer in West Vancouver

Vancouver Courier 

Council has worked with property owners in the past to save a number of early West Vancouver homes or homes designed by important architects, by using heritage revitalization agreements. Those typically allow the owner to build extra density or subdivide a lot in exchange for restoration and legal ...

 

Vancouver Mayor's Disastrous Decade Can't End Soon Enough 

HuffPost Canada 

Vancouverites are being driven out of the city while rich foreign investors have been shown the red carpet. So much alleged corruption is now being exposed to show just how bad this situation was allowed to become. Local real estate firms have offices in the far east to attract investors, and Robertson ...

 

News – January 24, 2018

 

Victoria ranked Canada's second-least affordable housing market 

 

CTV Vancouver Island 

 

Victoria's tough housing market has been given yet another dubious title. A new study is calling the B.C. capital the second-most unaffordable housing market in Canada, behind only Vancouver. The annual Demographia International Housing Affordability Survey, released by the Frontier Centre for ...

 

 

Condos approved for North Vancouver Telus site 

 

Business in Vancouver 

 

The project includes 235 parking spots, including 30 spaces for Telus employees who will work in the building on the eastern side of the site. The extra density will exacerbate a parking scarcity that has sent many customers into the large parking lots around Park Royal in West Vancouver, said Coun.

 

Toronto And Vancouver Markets Affected By A Slip In Housing Starts? 

 

HiBusiness (blog) 

 

The Canada Mortgage and Housing Corporation (CMHC) says the seasonally adjusted annual rate of housing starts fell to 194,663 units in May compared with 213,498 in April, the second consecutive monthly fall since a record high set in March. This is due to the fall of constructions intentions in ...

 

Opinion: Let's get real on real estate affordability studies 

 

Vancouver Courier 

 

And what about other housing-related costs, such as transport and proximity to the city's core? Economists widely agree that transport costs should be factored into all affordability studies, and homes in Metro Vancouver on average are much closer to the city's core than other major global cities, ...

 

 

 

New False Creek Flats development gives Vancouver tech sector more office space 

 

BCBusiness 

 

Combined, the new buildings slated for the area will add the equivalent of almost one-10th of downtown Vancouver's current office space, according to real estate services firm CBRE Canada. In the third quarter of 2017, the city had North America's second-lowest downtown office vacancy rate, at just 5 ...

 

News – January 18, 2018

Project flow picks up in Vancouver condo pipeline 

Business in Vancouver 

Total HPO strata registrations, which include townhouse and condo apartments, across Metro Vancouver were down to 21,090 units in 2017, from more than 23,000 in 2016. Registrations were lower in Surrey, Richmond and Coquitlam, but higher in Langley and North Vancouver, where they increased ...

 

Home Listings In Vancouver Real Estate Escalates 

HiBusiness (blog) 

January 2017 is definitely a month to be remembered for Vancouver as the real estate market goes through a rough patch as home prices decline, home sales drops and home listings escalates. Quite recently, there were projects that that capital control in China will have great impacts on the Vancouver ...

 

As commercial vacancy rates continue to plunge in Metro Vancouver, rental costs skyrocket 

The Province 

Metro Vancouver is expected to experience North America's second-highest increase to industrial property rental rates through 2019, while vacancy rates are expected to drop to 2.1 per cent in that same period, according to a new forecast from Cushman and Wakefield. In the period from 2017 to the end ...

 

Why the 'Housing Crisis' Is Really About Globalization 

TheTyee.ca 

Of course, the reason for the wage-price gap is that the Vancouver housing market is no longer strictly local — already an unprecedented 20 per cent of high-end condominiums in Vancouver are foreign owned. The world sees Canada as a safe, economically secure and politically stable country, and ...

 

 

News – January 17, 2018

Horgan dismisses call to ban foreign ownership of BC real estate 

The Globe and Mail 

The Greens have agreed to support the minority NDP government on budget matters and other issues, but specific policies such as housing are not ... at the impact of the foreign-buyers tax, an additional transfer of 15 per cent that is currently charged on residential property sales in Metro Vancouver.

 

Your House Price Vs. The Markets: Which One Did Better In 2017? 

HuffPost Canada 

In fact, a nice stock or bond portfolio would have given you better returns over the past year than Toronto real estate. Not so for residents of Vancouver, where real estatehandily beat stocks and bonds over the past year. That's according to numbers crunched by real estate portal Zoocasa. They looked at ...

 

Housing affordability in Greater Vancouver could erode further in 2018 

BuzzBuzzNews 

In December 2017, Greater Vancouver home prices rose roughly 16 per cent year-over-year to $1,050,300, according to the latest data from the Real Estate Board of Greater Vancouver (REBGV), published this month. Home price appreciation hit a year-low of 7.9 per cent in June before accelerating ...

 

Vancouver Among The Most Exorbitant Real Estate Market Globally 

HiBusiness (blog) 

It does not come as a shocker that the Vancouver real estate market has once again been listed as one of the most unaffordable cities in the world. The city which is pleasing to both local investors and foreign buyers has had a great impact on home prices which has lead prices to skyrocket. Last year ...

 

Province to fund 450 units of affordable rental housing in Downtown Eastside 

CTV News 

Vancouver's most impoverished neighbourhood is getting a bit of help from the province in the form of 450 units of rental housing. The Ministry of Municipal Affairs and Housing has promised an $83-million investment in four projects all located in the Downtown Eastside. Minister Selina Robinson said ...

 

News – January 16, 2018

Can more housing supply resolve the affordability crisis in Vancouver

The Globe and Mail 

Joshua D. Gottlieb is an associate professor in the University of British Columbia's Vancouver School of Economics. The end of 2017 was a busy time for policy efforts to address the housing-affordability crisis in Canada's most expensive region. In November, the City of Vancouver announced a new ...

 

Canada's mortgage changes could hurt overall economy 

Business in Vancouver 

Vancouver-area mortgage broker Dustan Woodhouse fears that the federal government is moving too fast with lending restrictions and that it could threaten the national economy. “I believe they're trying to fix a problem that doesn't exist,” said Woodhouse, a senior broker with Dominion Lending Centres, ...

 

Canadian Real Estate Association reports rise in December housing sales and prices on ... 

CHEK 

Although Victoria saw a drop in homes sold in December compared to a month earlier, the rest of Vancouver Island saw a surge, according to the latest numbers from the Canadian Real Estate Association (CREA). Sixty per cent of local markets in Canada saw sales activity grow last month including ...

 

It's 'really problematic' to blame foreigners for housing crisis, says UBC sociologist 

CBC.ca 

"You're talking about five times as much domestic investment in real estate compared to foreign investment in real estate by value, at least in the Vancouver market," he said. By numbers, Lauster said, that's an estimated $45 billion worth of property in Metro Vancouver owned by people with foreign ...

 

Interest rate hike, new mortgage rules may trigger real estate market slowdown 

Vancouver Sun 

A for sale sign is shown outside a house under construction in a new subdivision in Beckwith, Ont., on Wednesday, Jan. 11, 2018. The Canadian Real Estate Assocation says national home sales rose 4.5 per cent in December from the month before. Sean Kilpatrick / THE CANADIAN PRESS.

 

News – January 15, 2018

Average Greater Vancouver home sale price grew more than 10% year-over-year in December ... 

Business in Vancouver 

The average home sale price reached $1,049,424 in Greater Vancouver in December, according to new data from the British Columbia Real Estate Association. This is an increase of 10.7% compared with the average of $948,246 in December 2016. The number of units sold last month increased 18.7% ...

 

Vancouver housing market shrugs off tax to outpace GTA 

The Globe and Mail 

The Canadian Real Estate Association reported year-end numbers Monday, showing a benchmark home sales price of $600,300 for Canada in December, up 9.1 per cent from a year earlier, according to the MLS Home Price Index. The index adjusts for the mix of home types sold during the year to ...

 

Home sales, average prices rose ahead of stricter mortgage rules 

CTV News 

The real estate association has cut its sales forecast for 2018 as a result of the anticipated impact of new stress tests, forecasting a 5.3 per cent drop in ... in December with the Greater Toronto Area, Edmonton, Calgary, the Fraser Valley, Vancouver Island, Hamilton-Burlington and Winnipeg leading the ...

 

Can more housing supply resolve the affordability crisis in Vancouver

The Globe and Mail 

More generally, shifting the provincial tax base from income to real estate would lead to a more livable region and a more stable and sustainable economy. Vancouver is taking important steps toward a more flexible housing market. But these changes are only a start. The city's planned increase of ...

 

Teranet: Montreal and Toronto Real Estate Prices Drop, Vancouver Soars 

Better Dwelling 

Canadian real estate prices are finally stabilizing… if you don't dig deeper. The Teranet-National Bank Home Price Index (HPI) stopped its decline in December, and actually printed a climb. That's an encouraging sign, until you break down the index by city. Most of last month's climb was due to one city, ...

 

 

News – January 11, 2018

In Vancouver, you're competing with non-residents for condos worth as little as $600K 

 

Globalnews.ca 

 

Among Metro Vancouver condos worth $600,000 to $799,999, for example, non-residents owned 10 per cent. In the City of Vancouver, that figure was 12 per cent. Meanwhile, non-residents owned 19 per cent of condos worth $1.5 million or more in the City of Vancouver, and 22 per cent of such units in ...

 

Non-residents own 10% of Vancouver condos as foreign-buyer debate continues 

 

MetroNews Canada 

 

For Vancouver condos worth over $1.5 million – which can buy you a three-bedroom condo in some parts of the city – the percentage owned by non-residents jumps to 19 per cent, according to his findings. About five per cent of single-family houses in Vancouver are owned by non-residents.

 

Vancouver mayor will not seek re-election amid housing crisis 

 

The Business Times 

 

[VANCOUVERVancouver Mayor Gregor Robertson said on Tuesday he would not seek re-election later this year, stepping aside during an affordability crisis that has pitted residents against speculators in Canada's most expensive housing market. Mr Robertson, 53, serving his third term as mayor of ...

 

Real estate market still hot, despite soaring prices for detached homes 

 

Surrey Now-Leader 

 

Recently released Fraser Valley Real Estate Board (FVREB) statistics show the benchmark (typical) price for detached homes in Langley topping the ... Real Estate Board of Greater Vancouver (REBGV) statistics show that it costs, on average, $827,000 to buy a detached home in Maple Ridge in ...

 

BC's real estate watchdog clashes with BC Real Estate Council 

 

Vancouver Sun 

 

It's a dispute of interest because both Noseworthy and a new slate of Real Estate Council members were appointed in response to a frenzy of scandals in 2016 involving realtors breaking rules, but facing few consequences, in a hot Metro Vancouver housing market. Homebuyers were incensed as ...

 

 

News – January 10, 2018

Metro Vancouver housing starts on track for record year: home builders 

Globalnews.ca 

The mantra for Metro Vancouer's housing woes has been supply, supply, supply, and 2018 is on track to deliver. That's according to the Greater Vancouver Home Builders' Association, which believes 2018 will eclipse 2017 with 22,000 new housing starts already on the docket. Preliminary data released ...

 

Greater Victoria set record for housing starts in 2017: report 

CTV Vancouver Island 

Greater Victoria's real estate market broke new ground in 2017 with the highest number of housing starts recorded in more than 40 years, new numbers show. The Canadian Mortgage and Housing Corporation reports that there were 3,862 housing starts in the region last year, up sharply from the 2,933 ...

 

What's up, what's down in sales of Vancouver homes worth $1 million or more 

BCBusiness 

Vancouver's top-tier residential real estate market split in two directions last year, according to Sotheby's International Realty Canada's Top-Tier Real Estate Report, a bi-annual study highlighting market trends for $1-million-plus residential properties in Canada's largest urban centres. Despite cooling ...

 

Vancouver's empty homes tax prompts audits 

CTV News 

... has already sent out notices requesting that some property owners provide evidence to support their declaration. Mayor Gregor Robertson says in a news release that the tax encourages the best use of all housing in the city and will increase the rental supply for those who live and work in Vancouver.

 

City of Vancouver in middle of the pack when it comes to density 

CBC.ca 

These cities have already done this type of density, and it means Vancouver has a lot of room to catch up if they want to boost the housing supply ... which, in the short-term, is incredibly important for stemming home prices," said Filipowicz. But Brent Toderian, the city's former chief planner, says it's a ...

 

 

News – – January 9, 2018

Price sprawl: $1-million homes galore in Vancouver region 

 

The Globe and Mail 

 

The B.C. government introduced a 15-per-cent tax on foreign buyers in Metro Vancouver in August, 2016. After real estate prices decreased in the autumn of 2016, the market for detached houses began rebounding in early 2017 while prices for condos and townhouses surged as buyers flocked to ...

 

 

 

Condos Fuel Strongest Year in a Decade for Canadian Builders 

 

Bloomberg 

 

The increased activity mostly sidestepped land-constrained Toronto and Vancouver, the country's two most expensive markets, but was robust in the suburbs and less pricey surrounding cities. Starts in Toronto fell 1 percent to 38,738 in 2017, while declining 6 percent in Vancouver to 26,204 units.

 

 

 

Montreal real estate market has best sales growth in a decade 

 

BNN 

 

That compared with sales decreases of 18 per cent in the Greater Toronto Area and 10 per cent in Greater Vancouver. Unlike Toronto and Vancouver, Montreal doesn't have a foreign buyers tax. More than 14,000 condos changed hands across the Island of Montreal and nearby communities during the ...

 

 

 

Mega mansion propels farm lot from $88000 to $8.3 million 

 

Richmond News 

 

Transparency International, a non-government organization, has reported how Metro Vancouver real estate is a prime target for speculation due to Canada's weak laws surrounding beneficial ownership via numbered companies. The home at 11400 No. 2 Road is still under construction. According to ...

 

 

 

New report suggests Vancouver's density could handle more people and housing

 

Vancouver Sun 

 

The report, titled “Room to grow: Comparing urban density in Canada and abroad”, suggests Vancouver could still grow and handle even more population and housing. Population density is expressed as a ratio, calculated by dividing a city's population by its urban land area. Using 2016 data in the ...

 

 

News – – January 8, 2018

'It's on fire': Montreal home sales growth soars past Toronto, Vancouver for first time in 20 years

Financial Post 

Unlike Toronto and Vancouver, Montreal doesn't have a foreign buyers tax. More than 14,000 condos changed hands across the Island of Montreal and nearby communities during the year, marking a 17 per cent increase from 2016. “It's on fire,” said Paul Cardinal, manager market analysis for the ...

 

Canadian real estate market outlook 2018 

MoneySense 

CREA, is the trade association that represents more than 100,000 real estate brokers, agents and salespeople across Canada. In December, CREA cut its home sales forecast for 2018. The association's analysts cite the impact of tighter mortgage rules, the chill from the Toronto and Vancouverforeign ...

 

Daryl Katz Lists Vancouver Penthouse Condo For $38 Million 

Huffington Post Canada 

This luxury penthouse in Vancouver's Coal Harbour neighbourhood is listed at an asking price of $38 million. Edmonton Oilers owner Daryl ... The other penthouse in the building, Penthouse One, sold for $25 million in 2013 as part of the largest real estate deal in Canadian history. The buyer, who also ...

 

Vancouver plans to build temporary modular homes near Olympic Village station 

Times Colonist 

VANCOUVER — An empty lot near the Olympic Village SkyTrain station has been identified as the future site for a 50-unit, temporary, modular-housing project. In October, Vancouver Mayor Gregor Robertson promised to build 1,000 new social and supportive housing units before the end of 2018 to ...

 

Nanoose Bay property tops list of most expensive in region 

Parksville Qualicum Beach News 

Three Nanoose Bay properties made the list of top 100 most expensive residential real estate in Vancouver Island. BC Assessment released its 2018 property assessments and have identified the highest assessed values from all over the Island as of July 1, 2017. Leading the way in the Parksville ...

 

News – – January 5, 2018

2017 home sales in Vancouver more normal but prices up, says real estate board 

CanadianBusiness.com 

VANCOUVER _ The Real Estate Board of Greater Vancouver says home sales across Metro Vancouver were more “historically normal” in 2017, although the number of transactions was still the third highest in the past decade. Sales of detached homes, townhomes and apartments in Metro Vancouver ...

 

East vs West side: Which was Vancouver's real estate winner in 2017? 

Vancouver Courier 

There was a clear winner in Vancouver's battle for real estate domination in 2017, at least when it came to home price increases. And the winner is… Vancouver's East Side. The Vancouver East region of the city, which includes the East Side and Downtown East, saw single-family home prices rise by ...

 

Statistics Canada 'Got It Wrong' On Foreign Homebuyers, Anti-Corruption Group Says 

Huffington Post Canada 

StatsCan reported last month that non-residents own just 3.4 per cent of all residential properties in Toronto and 4.8 per cent of residential properties in VancouverReal estate industry insiders pointed to this as a sign that foreign home-buying is not driving up house prices in Canada, as many had ...

 

BC's LNG region experiences assessment deflation with projects on pause 

Vancouver Sun 

On Vancouver Island, homeowners saw assessments climb anywhere from 10 to 25 per cent for detached houses or 15 to 35 per cent for condominiums, according to B.C. Assessment, and Muir said some of the value was driven by the desirability of communities as retirement destinations. Parksville ...

 

Weekly Buzz: Vancouver foreign ownership and Bitcoin ban 

Western Investor 

... ever-buzzy topic of foreign ownership in Vancouver. Since the foreign buyer tax came into affect, studies have found the foreign buyers still continue to dominate the luxury home and condo markets. Meanwhile, the emerging popularity of Bitcoin currency has forced local real estatecouncils whether to ...

  

News – January 4, 2018

Vancouver condo prices soar as seller's market emerges 

The Globe and Mail 

It is a seller's market for condos. A measurement closely watched by the housing industry, known as the sales-to-active listings ratio, reached 59.6 per cent in Greater Vancouver's condo market last month. B.C. real estate agents consider it a balanced market when the ratio ranges from 15 to 20 per cent.

 

Weak sales cause average 2017 price of Vancouver detached homes to tumble 6.5% 

CBC.ca 

With 2017 behind us, for the first time in a decade, so may be some of the highest housing prices. Real estate agent and industry blogger Steve Saretsky says the average price of detached homes in Vancouver fell 6.5 per cent last year. Most of the price movement was at the higher end of the market, ...

 

2018 home sales in BC expected to decline, but prices climb, economists say 

The Telegram 

VANCOUVER — An upward trend in housing prices isn't expected to significantly change in British Columbia despite an anticipated slowdown in sales this year, economists say. The B.C. Real Estate Association's chief economist said Wednesday that new housing stock, slightly higher interest rates and ...

 

Foreign buyers 'dominate' high-end house sales in Vancouver

Business in Vancouver 

The survey also found the most expensive resale condominiums in Metro Vancouver now average $1,800 per square foot. Engel & Völkers maintains that foreign buyers remain a dominant force in Vancouver's high-end housing sales, though a recent survey by Statistics Canada found that foreign ...

 

Ottawa vague on helping City of Vancouver curb housing speculation 

ThinkPol 

The Government of Canada is releasing few details about federal measures to help City of Vancouver monitor and curb speculation in the housing market. On Nov. 29, Vancouver City Council approved their planning, urban design and sustainability department's Housing Vancouver strategy which aims ...

 

 

News – January 3, 2018

Latest property assessment data shows big increases for many condo and townhouse owners 

Vancouver Sun 

Condominium and townhouse owners throughout Greater Vancouver and the Fraser Valley will likely get a shock when they open their property assessment notices this week, thanks to a region-wide increase in strata property values. On Tuesday, B.C. Assessment released its 2018 property ...

 

Condos jump in value: BC Assessment 

North Shore News 

On the North Shore, home values in the City of North Vancouver went up the most – by an average of 10 per cent - led by increases in Lonsdale area condo values. “The strata market is the stronger market,” said Paul Borgo, deputy assessor for BC Assessment. “The single-family market is much quieter ...

 

What you need to know about BC's 2017 assessment values 

CBC.ca 

Just three of them were in Metro Vancouver, but 20 were on Vancouver Island. 3. Do your homework before appealing. Between one and two per cent of people file an appeal with B.C. Assessment ever year (the deadline is Jan. 31), but property tax agent Paul Sullivan said people shouldn't file one ...

 

Vancouver home sales more normal in 2017, but prices still rose 

Financial Post 

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales across Metro Vancouver were more “historically normal” in 2017, although the number of transactions was still the third highest in the past decade. Sales of detached homes, townhomes and apartments in Metro Vancouver ...

 

Home sales fall, prices rise across Metro Vancouver in December 

News1130 

Prices continued to rise, especially for condos. The Real Estate Board of Greater Vancouver says its adjusted benchmark price for all types of homes was up three tenths of a per cent from November and 16 per cent compared to a year earlier. The benchmark price for apartment-style condo was ...

 

 

News – January 2, 2018

Greater Vancouver home assessments up 1-30% in 2018: BC Assessment 

 

Business in Vancouver 

This home type saw, on average, a 30% jump in assessed value, from $673,000 last year to $877,000. Other large increases were seen in Maillardville townhouses (up 22% to $581,000), North Vancouver's Central Lonsdale condos (up 21% to $484,000), Garibaldi estate condos in Squamish (up 20% ...

 

  

Vancouver apartment market heats up as building starts stall 

Business in Vancouver 

The 110-unit project is fully leased and listed with the Goodman team at HQ Real Estate Services Ltd. for $54 million. “It's been a very successful project from a lease-up perspective,” Mark Goodman said as the project hit the market last month. “There was very little precedent at the time for modernized ...

 

BC housing starts cool after hot October 

Business in Vancouver 

Not surprisingly, fewer apartment starts (down 24%) led the monthly decline following the previous month's increase, with higher   single-family starts providing a partial offset. Declines of 9% in Vancouver and nearly 70% in Victoria led the pullback, as starts in both Kelowna and Abbotsford-Mission rose.

 

Stress tests, foreign buyers and higher rates likely to impact housing market in 2018 

CBC.ca 

Real estate was a major topic in the business world in 2017, and with some big changes on the horizon, the subject is likely to dominate headlines again this year. Here are five things to watch in Canadian real estate. Foreign buyers. Policy-makers in Toronto and Vancouver have taken steps to try to ...

 

4 Home Buying Trends To Watch In 2018 

Toronto Storeys (blog) 

But one housing type was consistently in demand throughout the year – condos. Multi-family housing has been on a tear, outpacing all other segments, in terms of price growth in both the Toronto and Vancouver markets. Why are buyers increasingly choosing condo living, rather than buying detached?

 

News – December 20, 2017

BC Assessment Authority warns homeowners of outsized assessment increases 

Vancouver Sun 

Those escalating assessments, particularly for owners in the condominium market, are a concern to municipal governments, said Vancouver Coun. Raymond Louie. “It runs counter to our efforts to create affordable housing by increasing more supply,” Louie said. Vancouver allows property owners to ...


As stores close, Canada's mall owners turn prime land into condos

Financial Post 

That was despite the highest level of rental construction in 25 years in the third quarter, according to Urbanation Inc. Home prices have surged more than 60 per cent in Vancouver and 40 per cent in Toronto in the last three years. Even pullbacks in these markets this year following policies to dampen ...


Commercial Real Estate: Lobbying to save Chinatown's heritage 

The Province 

Melody Ma retraces the steps she initially took about two years ago through Vancouver's Chinatown. The twenty-something freelance web developer and Chinatown activist remembers seeing a construction pit at Gore and East Hastings on that walk. “There used to be all of these interesting ...


Foreign buyers may not live in Vancouver, but their money sure does: StatsCan 

Globalnews.ca 

The data also identified a value gap between condominium apartments owned by residents and non-residents. Across Metro Vancouver, an average resident-owned condominium apartment was worth $530,800, while for non-residents, they were worth $692,000, about 30 per cent more. In the City of ...

 

News – December 19, 2017

 

Outlook 2018: housing slowdown in 2018 will have ripple effects 

Business in Vancouver 

 

 

But with housing development continuing to lag behind demand, not to mention population growth, Metro Vancouver's economy is, poised to feel the pinch in 2018. “There's a whole bunch of reasons Amazon HQ2 won't end up here, but one of the main reasons is how in the world are we going to find ...

 

Foreigners own 7.9 percent of Vancouver condos, new housing study shows 

Standard-Examiner 

 

The most detailed Canadian government housing study to date shows non-residents own 7.9 percent of the condominiums in Vancouver and 7.2 percent in Toronto, a higher share than previously thought. For all types of real estate, foreigners owned 4.8 percent of properties in Vancouverand 3.4 ...

 

 

Housing affordability and how to achieve it a constant theme in 2017 

 

Vancouver Courier 

 

In April I lost a few friends and readers by questioning why the city's Empty Home Tax was unfairly taxing people who kept a second home in Vancouver. “How can you come to the defense of people who can afford two homes when so many in the city can't afford one?” they asked. In May, as voters went ...

 

 

Non-residents of Canada own less than 5% of housing in Toronto, Vancouver areas 

 

CBC.ca 

Non-residents of Canada own less than five per cent of the housing in the Greater Toronto and Greater Vancouver areas, according to data released today by Statistics Canada. In a joint project with the Canada Mortgage and Housing Corporation, the data agency weighed into the debate over foreign ...

 

Growing number of families and seniors on UCPR low-income housing wait list 

The Review Newspaper

You may have heard of the soaring house prices in Vancouver and Toronto, but you don't have to look that far to see many people struggling to keep up with housing costs. As of September, there are 972 families the United Counties of Prescott and Russell's wait list for low-income housing—149 more ...

 

 

News – December 18, 2017

Condos and climbing prices: 5 real estate trends to expect in 2018 

 

CTV News 

 

With tighter mortgage regulations coming in January, some uncertainty surrounds the real estate market in 2018. Real estate expert Karyn Filiatrault spoke with CTV's Your Morning on Monday, to share the five real estate trends she expects in 2018: Condo popularity will surge: “We have baby boomers ...

 

 

Vancouver industrial real estate sales are up in price, down in number \

BCBusiness 

 

 

The days of industrial property in Vancouver could be numbered, according to Avison Young Inc. A new report by the Toronto-based commercial real estate services firm puts industrial building sales in the city at $192 million in 2016, the highest annual total on record. However, that value was based on ...

 

'We have not made a dent': John Horgan pledges more action on affordable housing in 2018 

CBC.ca 

 

 

"The key issue for the Lower Mainland, largely, and in southern Vancouver Island to a degree, is the affordability of market priced housing, and we have not made a dent there," Horgan told CBC's Gloria Macarenko, in an interview marking the end of 2017. "We wanted to ensure we weren't piecemeal on ...

 

Seniors especially hard-hit by BC's housing crisis: advocates 

CTV News 

 

 

VANCOUVER — Skyrocketing rents and dwindling affordable-housing units in Vancouver are driving seniors to the brink of homelessness, forcing some to couch surf, seek roommates or even live in cars, advocates say. While the debate over the city's housing crisis often focuses on millennials, people ...

 

News – December 15, 2017

 

Luxury Real Estate Investors Can Expect Upward Price Trajectory in Vancouver and Toronto in 2018 

Mansion Global 

The big story in Vancouver is the tremendous price growth of luxury condos since 2015, which British Columbia tried to slow with a 15% foreign buyers' tax in August 2016. A second “empty home” tax, which went into effect in January 2017, requires Vancouver homeowners to pay 1% of a property's ...

 

Year of the condo

VICE News 

Secondly, there's a constant trend of strong foreign buyer demand for centrally-located condominiums Toronto and Vancouver, even after the foreign buyers tax was imposed in both cities. According to data from the Canada Housing and Mortgage Corporation, one out of every 10 condosbuilt in ...

 

Number of home sales expected to drop further in 2018 due to new mortgage rules: CREA 

Globalnews.ca 

TORONTO – The Canadian Real Estate Association has cut its home sales forecast for next year due to the impact of tighter mortgage regulations that ... which include a stress test for uninsured mortgages, will reduce sales activity across the country, particularly in and around Toronto and Vancouver.

 

Weekly Buzz: Property tax hike and housing innovation 

Western Investor 

While The City of Vancouver approves a hike in property taxes (reportedly to help pay for more affordable housing), a new Coal Harbour development made headlines for becoming the most ... Here is Western Investor's pick of the most buzz-worthy commercial real estate stories published this week.

 

Vancouver housing plan tries to find 'the right supply' of luxury units 

The Globe and Mail 

By the time it completes, Terrace House will be another symbol of extreme wealth in what was, not so long ago, Vancouver's highly affordable downtown peninsula. The Coal Harbour building will only hold 20 homes, and many of them will take up an entire floor. The remarkable building will be the ...

 

 

 

News – December 14, 2017

  

Home prices set to climb on buyer demand in GTA: forecast 

The Globe and Mail 

 

Mr. Soper said Canada's buoyant economy, growing housing demand from "peak" millennials who are over the age of 25 today, plus increasing immigration and intra-provincial migration to Vancouver and Toronto are all creating a strong demand for housing in both of Canada's priciest cities.

 

On Vancouver housing, Bill Morneau cites 'stress tests' that don't seem to have cut prices 

 

Globalnews.ca 

 

RBC's most recent Housing Affordability Report showed that, in Vancouer, servicing the mortgage for an average-priced condo would take up over 46 per cent of one's income, while in Victoria, it would take up 37 per cent of local incomes. The Canada Mortgage and Housing Corporation (CMHC) ...

 

Metro Vancouver's housing demand swallows industrial land 

 

Western Investor 

 

The developer of an 89-acre historic industrial site in Coquitlam is attempting to jettison warehouses and workspace in favour of 1,000 more condos, though an industrial shortage is driving prices to record highs. Coquitlam's industrial vacancy rate is 1.6 per cent, which is up from a record low of 0.5 per ...

 

  

Fixing an Unaffordable City 

The Runner 

 

Jens von Bergmann, a Vancouver-based data analyst, published an interactive map that tracks the affordability range of residential spaces in Vancouver neighbourhoods. His findings paint a picture of a city in a unique housing market situation. “61,950 households in the City of Vancouver make at least ...

 

 

The City of Vancouver trying to ease Marpole residents' concerns over homeless housing project 

 

Globalnews.ca 

 

The City of Vancouver is trying to calm fears from Marpole residents about potential tenants of a modular housing project for the homeless, which is just steps away from three schools. Director of Homelessness Services Ethel Whitty says the city thoroughly reviews anyone looking for a unit at the site ...

 

News – December 8, 2017

 

Vancouver, where an 'affordable' 3-bedroom unit rents for $3333, if you ask the city 

Globalnews.ca 

One of those conditions is that the proponent enter a housing agreement, in which all of the units be secured as “for-profit rental housing.” But what's affordable, according to this application? A three-bedroom must rent for no more than an average starting rate of $3,333 per month, and a two-bedroom for ...

 

Vancouver's push for temporary modular housing facing pushback 

CTV News 

VANCOUVER - Construction has hardly begun at the first of Vancouver's temporary modular housing projects and already pushback is mounting against the city's latest strategy to house its homeless. Vancouver was granted an injunction earlier this week from the Supreme Court of British Columbia to ...

 

Prices rising faster for condos, townhouses 

Delta-Optimist 

According to the Real Estate Board of Greater Vancouver, last month the benchmark price for a single-family home in Ladner was $1,035,000, an increase of just ... The B.C. Real Estate Association housing forecast for 2018 predicts that prices will rise modestly in Metro Vancouver's housing market.

 

Housing starts at near 10-year high on soaring condo construction 

The Globe and Mail 

CMHC said starts were lower in Vancouver in November mostly because the construction sector is at full capacity, so fewer condo and rental projects are launching in the City of Vancouver, Richmond and on the North Shore. In Burnaby and New Westminster, however, multiple family starts are higher so ...


Hey Vancouver taxpayers, ready for a 3.9 per cent tax hike? 

Vancouver Courier 

“We also know that there are a number of really key issues that have been in the public around housing, the housing crisis, the opioid crisis and just a lot more visibility to that.” Impey also talked about taxpayers' tolerance for tax increases. The city's survey showed the majority of residents and business ...

 

News – December 7, 2017

 

What Areas of Canada Have the Highest and Lowest Property Tax Rates? 

Mansion Global 

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Where in Canada are the highest and lowest property taxes? Greater Moncton in New Brunswick and Vancouver, British Columbia, have the highest and lowest property taxes, respectively, ...

 

Property assessments trending upwards in Metro Vancouver for 2018 

News1130 

VANCOUVER (NEWS1130) – Early numbers show a major hike in the values of condos in BC, especially in Metro Vancouver. Assessments for 2018, which could impact how much property taxes go up, show significant growth. Based on the value of homes as of July 1st, 2017, the BC Assessment ...

 

Condos a bright spot in recovering Toronto, Vancouver markets 

The Business Times 

[VANCOUVER] The market for condos and attached properties surged in Canada's main real estate markets, Toronto and Vancouver, as buyer interest in expensive detached homes has withered, data showed on Tuesday. Toronto home sales and prices were down in November from a year earlier, ...

 

How income inequality is reshaping Metro Vancouver

The Globe and Mail 

Vancouver is following a similar pattern, but for different reasons. Unlike Toronto, Vancouver doesn't have the high-paying jobs to drive its economy. Instead, the city relies largely on an inflow of foreign money to fuel its real estate industry. That reliance has put communities at a disadvantage, widening ...

 

What Was Your Property Worth on July 1? It Matters for 2018 

Canada NewsWire (press release) 

6, 2017 /CNW/ - British Columbia's real estate market has seen continued activity in 2017 with residential and commercial property values showing growth in ... "Assessments for detached single family homes in central parts of Metro Vancouver, for example, will be relatively stable, while other parts of the ...

 

News – December 5, 2017

 

Price of Metro Vancouver condos up almost 24% since last year, says real estate board 

 

Globalnews.ca 

 

According to the Real Estate Board of Greater Vancouver, the average property price in Metro Vancouver last month rose 14 per cent from November 2016, with condominiums and attached properties making the biggest gains. The board says condominiums saw the biggest jump in prices at $648,200.

 

 

 

Housing in Vancouver will get worse before it gets better 

 

Vancouver Courier 

 

One idea was to redevelop well-located single-family lots with small low-rise apartment buildings such as those built throughout Vancouver in the 1950s and 1960s. These simple buildings can be very cost-effective. They do not need underground parking, and while some fire code relaxations may be ...

 

 

 

Toronto Housing Market Stumbles As Vancouver Home Sales Soar 

 

Huffington Post Canada 

 

Condo towers in Vancouver's West End. The city has seen a bounce-back in its real estate market, led by condos and townhomes, the city's real ... Canada's two priciest housing markets are both showing signs of recovery following the introduction of foreign buyers' taxes in Toronto and Vancouver.

 

 

 

City needs more than all talk and no action or all action and no talk 

 

Business in Vancouver 

 

Several recent struggles with this concept are in our midst in Vancouver: the failed effort to develop 105 Keefer Street in Chinatown, the strong backlash at modular housing for the homeless in the Marpole district, even the mammoth housing strategy for Vancouver that was passed last week with ...

 

 

 

BC luxury property buyers turn to Mexico 

 

Business in Vancouver 

 

Since Vivo Resorts opened five years ago near the surfing community of Puerto Escondido, it has built and sold out seven condominium towers with a total of 100 units, plus 10 private detached villas. An eighth condo tower is 75% sold. A ninth tower, Marino Residences, pre-sold half its 28 condos in five ...

 

 

 

News – December 4, 2017

 

Vancouver property prices up 14 per cent year-over-year: real estate board 

CTV News 

Vancouver's real estate board says the average property price in Metro Vancouver last month rose 14 per cent from November 2016, with condominiums and attached properties making the biggest gains. The Real Estate Board of Greater Vancouver says the composite benchmark price for a property ...

 

Designing Vancouver's Priciest Condo Listing 

North Shore News 

There was also a language and time barrier to contend with, as the owner, a real estate developer who had originally purchased the space with the Beijing real estate market in mind, was very busy and often not in Vancouver. With its out-of-this-world price tag, the buzz this project garnered has helped ...

 

City planners to review separate entrances for social housing units 

MetroNews Canada 

As Vancouver moves forward on a new housing plan that includes increasing the amount of lower-income units added to condo buildings, the city's ...

 

Local condo flippers are a sign of tougher pre-sale competition: realtor 

News1130 

VANCOUVER (NEWS 1130) – If your strategy to get into the local housing market is to jump in on a pre-sale condo, you likely have some tough ...

 

Flipper attempts nearly 6x profit within a year on Coquitlam property

ThinkPol 

A recent strategy by real estate speculators active in Metro Vancouver has been to buy single-family zoned properties and then get them rezoned as ...

 

News – December 1, 2017

 

CREA wants parents to assist children with home purchase with their RRSPs 

CTV News 

 

Two of the countries hottest housing markets have been contributing to those gains. In October, the benchmark price of a property in Greater Vancouver hit $1,042,300, up 12.4 per cent from the previous year, according to figures from the Real Estate Board of Greater Vancouver. Meanwhile, in the ...

 

Horgan says improved housing options his top focus in BC's next budget 

Vancouver Sun 

 

Horgan said the housing supply and affordability issue no longer just applies to Metro Vancouver as people in communities throughout B.C. have serious issues with finding a place to live. The CMHC report says Kelowna and the Abbotsford-Mission area have rental vacancy rates at 0.2 per cent, while ...

 

Housing forecast for 2018 predicts tough time for Lower Mainland home buyers 

Straight.com 

 

In Greater Vancouver, an average home is expected to cost $1.08 million in 2018, up 5.5 percent from the anticipated $1.02 million price in 2017. In the Fraser Valley, an average home is forecast to fetch $739,900 in 2018, representing a five percent increase from the expected average price of $705,000 ...

 

Rentals a key focus of Vancouver's new housing strategy 

Vancouver Sun  

Tenant protection measures in the new strategy, which council adopted Wednesday, were welcomed by housing advocates who say while renters make up slightly more than half of Vancouver households, they had previously been marginalized in conversations about the city's housing crisis.

 

Vancouver developers fear 'alarming' land prices hinder profit 

Vancouver Courier 

 

Vancouver developer and architect Michael Geller warns that land has been selling at such high prices that some condo developers — and new condo buyers — fear they won't be able to profit on the final product. “I am seeing land sales now in excess of $500 a [square] foot buildable in the city of ...

 

 

News – November 30, 2017

 

Vancouver plan to build 72000 new homes — and maybe restrict foreign owners — approved 

Globalnews.ca 

Vancouver council has approved a plan to build 72,000 new homes in a bid to see the “right supply of housing” built around the city. What's more, the strategy approved on Wednesday night, could possibly restrict property ownership by “non-permanent residents.” The strategy passed at council with only ...

 

Some Vancouver houses selling for well below assessed value as prices soften 

CTV News 

It's a glimmer of hope for those awaiting any sign of a cooling housing market. Not only is there a negative value in the "detached house" column of a real estate association report, but there are houses selling well below assessed value in the very neighbourhoods where they first start hitting ...

 

Vancouver Foreign Buyer Ban? City May Limit Housing Market To Local Residents 

Huffington Post Canada 

... Vancouver is considering restricting ownership of housing to local residents, among other strategies, as it looks to cool a hot real estate market that it ...

 

Bank of Canada: Half of Canadian Real Estate Mortgages Will Renew By Next Year 

Better Dwelling 

Canadian real estate now presents one of the biggest risks to the financial ... households are more heavily concentrated in Toronto and Vancouver.

 

Pricey Vancouver real estate Brings homebuilders to Squamish 

Squamish Chief 

“The pressure on industrial real estate in Vancouver is tremendous,” said Geoff Baker, co-founder of Westcoast Outbuildings. “Affordability drives space, right? So, the cost per square foot was just so high in Vancouver for anything. And anything we did find had demolition clauses, or three or four-year ...

 

 

 

News – November 28, 2017

Marpole housing complex for homeless to open in February 

 

Vancouver Courier 

A community meeting must also be held prior to the complex opening and attendees will include the Vancouver school board, B.C. Housing and Community Builders, the non-profit that will manage the complex. Tenants will be chosen in accordance with “affordable/supportive housingtenanting best ...

 

Dan Fumano: Global money hit Vancouver real estate 'like a ton of bricks,' Robertson says 

Vancouver Sun 

On the eve of a comprehensive, 10-year housing strategy going before Vancouver city council, Gregor Robertson reflected on the impact of offshore money in local real estate over his three terms as mayor of Canada's most-expensive city. “In my travels this year in Sydney (Australia) and New York, my ...

 

WeWork ups landlord ante; premier on accelerating approval times 

Business in Vancouver 

“Every second downtown Vancouver office building's in negotiation with WeWork,” quipped PCI Group partner Dan Turner at the recent Vancouver Real Estate Strategy and Leasing conference. But he added: “It's testimony to Vancouver that they're coming.” Indeed, for many, WeWork represents not just ...

 

Mainland developer looks to Nanaimo for 'affordable' building sites 

Times Colonist 

Vancouver development company is making its first investments in Nanaimo, joining other Lower Mainland firms that have been building on the Island as land values and demand rise in B.C.'s housing market. Wertman Development Corp. has bought two Nanaimo sites — one for a downtown condo ...

 

 

News – November 27, 2017

 

Vancouver leads nation with lowest office vacancy rate 

Western Investor 

The October 11 start of the 33-storey Vancouver Centre 2 office tower, backed by the Healthcare of Ontario Pension Plan (HOOPP), the Great-West Life Real Estate Fund and London Life Real Estate Fund, kicked off the latest wave of office development and gave Vancouver a major credibility boost, said ...

 

Back to square one for Port of Vancouver's Terminal 5 

The Columbian 

Terminal 5 at the Port of Vancouver as seen Monday. ... More than 80 acres of real estate are available inside the loop, but the key will be landing the ...

 

Married with children and living at home: Lower Mainland's multi-generational households on rise 

Vancouver Sun 

The ability of governments to address real estate values and low vacancy rates is limited, though the City of Vancouver is giving it a try with its Empty Homes Tax, short-term rental regulations and modular housing for homeless people. Changing the forms of housing available in the market is painfully ...

 

Homeless and millennials fall through cracks of new housing plans, say advocates 

CBC.ca 

"But the broad strokes, as they exist right now, don't speak to the needs of the chronically homeless." Vancouver's plan calls for 72,000 new units of housing in the next decade, two-thirds of which would be rental. The federal government has pledged $40 billion to build 100,000 new units, repair 300,000 ...

 

 

News – November 24, 2017

 

Vancouver's 10-year housing strategy sees densification of vast swaths of the city 

Vancouver Sun 

Housing Condos and apartment buildings are seen in downtown Vancouver, B.C., on February 2, 2017. Home sales across Metro Vancouverrebounded to near record levels in May but demand is now being driven by condominiums and townhomes, a real estate expert says.That's a shift from booming ...

 

Housing landscape expected to change as Vancouver outlines new strategy 

News1130 

With the new Housing Vancouver strategy, we can transform our low-density, single-family neighbourhoods with more duplexes and triplexes, more townhouses and rowhouses, and more low-rise apartments and make sure every neighbourhood across Vancouver is filled with families and kids,” says ...

 

Vancouver unveils new housing strategy for the next decade 

CBC.ca 

The new plan calls for 72,000 new units of housing in the next decade, two-thirds of which would be rental. "It's what we feel is needed to correct that bias in the market ... so we remain a diverse city. That's the philosophy ... make sure Vancouver remains a place for all people, all incomes. That's why ...

 

Metro Vancouver politicians to discuss housing affordability near transit 

Globalnews.ca 

Local politicians from across the region will meet on Friday to try to find answers on housing affordability near transit stations. This comes after a regional district study found low-income earners struggle to find affordable housing to match their transportation needs, according to New Westminster mayor ...

 

Judge orders homebuyer who balked at foreign buyer tax to give up $180000 deposit 

Vancouver Sun 

... to purchase a home in North Vancouver but failed to complete the sale after ... and paid the deposit, which was held in trust by her real estateagent.

 

News – November 23, 2017

 

Victoria housing strategy eases supply shortage 

CBC.ca 

About half of the strategy's 25 proposed actions have been completed. They include waiving application fees for affordable housingdevelopments, simplifying approvals for basement suites and standalone garden suites — similar to Vancouver's laneway houses — and allowing smaller housing units.

 

City of Vancouver proposes rental-only zones, new rental czar to ease housing crunch 

Globalnews.ca 

The City of Vancouver is touting a new list of actions it says will protect renters and improve the rental market. The city is creating a new position, the renters protection manager, whose job will be to inform renters of their rights when a landlord wants to redevelop their property, along with helping them ...

 

More than 1 in 3 Yaletown condo sales appear to be flips 

ThinkPol 

More than a third of all condos currently listed for sale in Vancouver's Yaletown neighbourhood appear to be attempts at flipping by speculators. ThinkPol analyzed all 128 of the currently available MLS listings for condominiums in Yaletown and found that 48, or 37%, were bought in the last three years.

 

New federal housing plan requires big provincial buy-in 

Vancouver Sun 

Trudeau spoke in Toronto and Duclos in Vancouver, thus covering the country's two least-affordable housing markets. But the plan rests heavily on provinces kicking in matching funds, without which federal dollars won't flow. Even then, little will happen until April 2018 and not until 2021 in the case of ...

 

National housing strategy long overdue for Vancouver: advocates 

CTV News 

The Canadian government launched its long-awaited national housing strategy Wednesday, but Vancouver advocates say the move is long overdue in a city already that is facing record levels of homelessness and an affordability crisis. The 10-year plan includes some bold promises such as committing ...

 

News – November 22, 2017

 

City of Vancouver expected to make housing announcement soon after feds 

Vancouver Sun 

The comprehensive housing strategy is expected to touch on everything from permit approvals and real estate speculation, to single-room occupancy ...

 

Toronto Real Estate Prices Roll Back, BC Now Home To The 3 Most Expensive Markets 

Better Dwelling 

Canadian real estate has divided into two distinct markets, once again. Numbers from the Canadian Real Estate Association (CREA) show that half of markets posted price gains in October, and half showed price declines ... Greater Vancouver takes the top spot with a typical home selling for $1,042,300.

 

National housing strategy must involve cities: Vancouver mayor 

News1130 

VANCOUVER (NEWS 1130) – Ottawa must commit to working with cities, as well as provinces, if it wants to tackle affordable housing and homelessness in Canada, according to Vancouver's mayor, as the west coast city tackles skyrocketing real estate prices and homeless rates. “Historically there's ...

 

Popular solution to the province's housing crisis proposed by union report 

Straight.com 

... and federal policies recently implemented to slow the prices of real estate, affordable homes remain out of reach for the majority of Vancouverites.

 

Liberals look to make housing more affordable for neediest families 

CTV News 

Outside of Vancouver, the cities with the highest rates of core housing need were in Ontario. In Toronto, close to one in five households were financially stretched -- the highest rate of any city in the country. The government hopes that building 80,000 new affordable rental units, along with billions more in ...

 

News – November 21, 2017

 

Toronto Tops UBS Global Real Estate Bubble Index, Vancouver Comes In Fourth 

Better Dwelling 

Swiss-based mega bank UBS, updated its Global Real Estate Bubble Index. The index, looks for cities that experience price climbs that disconnect from fundamentals. Topping the list this year is Toronto, and in fourth place is Vancouver. Let's take a look at the bubble factors they're observing.

 

Can the government save the middle-class wannabe homeowner in Toronto and Vancouver

The Globe and Mail 

With a new federal housing strategy coming imminently, let's catch up on what the recent ups and downs in Canada's most expensive real estate ...

 

What the BC government should do about the housing crisis 

Vancouver Courier 

As to how Ottawa and B.C. might get involved with addressing the housing crisis in Metro Vancouver, “there were more questions than answers.”.

 

Holborn & TA Global receives 7 prestigious Americas Property Awards 

GlobeNewswire (press release) 

The respected Vancouver-based real estate development company has extensive global experience and a reputation for high quality, innovative ...

 

Modular housing would benefit downtown Vancouver, says Business Improvement Association 

CBC.ca 

The president of the downtown Vancouver Business Improvement Association says that modular housing in the city's downtown core would help ...

 

News – November 20, 2017

 

Affordable housing providers look at public-private partnerships to solve BC housing crisis 

CBC.ca 

Partnerships between non-profit housing providers, developers and municipalities were the focus of an affordable housing conference that kicked off in Vancouver on Sunday. The 25th annual Housing Central conference, which takes place in Richmond until Nov. 21, welcomed more than 1,200 ...

 

Portable supplement, focus on supply to be part of new housing strategy 

CTV News 

Outside of Vancouver, the cities with the highest rates of core housing need were in Ontario. In Toronto, close to one in five households was financially ...

 

Future of northeast False Creek on display at city event 

Vancouver Sun 

Gone are the viaducts and empty paved areas, replaced by a waterfront district, new parks, development including social housing, child care and ...

 

Tie new affordable housing money to outcomes, former watchdog tells Liberals 

National Post 

A homeless woman sleeps at a tent city at Oppenheimer Park in the Downtown Eastside of Vancouver Wednesday October 15, 2014. In an analysis published Monday, former parliamentary budget officer Kevin Page says the federal government doesn't tie homelessness and housingfunding to any ...

 

Worried your presale condo might be cancelled? Research the developer first 

The Globe and Mail 

... done to protect Mr. Paris and others like him who become the victims of a cancelled condo complex, Vancouver real estate lawyer Richard Bell said.

 

 

News – November 17, 2017

BC real estate watchdog bans controversial practice of 'dual agency,' despite industry objections 

 

Vancouver Sun 

Micheal Noseworthy, Superintendent of Real Estate, head of the Office of the Superintendent of Real Estate, in Vancouver, Thursday, September 28, ...

 

It takes 29 years to save for a down payment in Vancouver, and prices just keep climbing 

Globalnews.ca 

Towers of offices and condos continue to rise across the Vancouver, B.C. ... Will middle class be squeezed out of Metro Vancouver housing market?

 

18 per cent of Vancouverites living in substandard housing

Vancouver Courier 

According to the 2016 census, Vancouver has a core housing need rate of 17.6 per cent. The city comes in second amongst the country's major metropolitan areas to Toronto, which has a rate of 19.1 per cent. The national average is 12.7 and the provincial average is 14.9. Nunavut has the highest rate ...

 

Vancouver condo rush sparks local and foreign flipping frenzy 

Reuters 

VANCOUVER, Nov 16 (Reuters) - The condominium market has turned red-hot in Vancouver, with agents saying local and offshore buyers are ...

 

Are Toronto and Vancouver headed for a housing boom? 

Yahoo News 

For a brief period after the Foreign Homebuyers Tax was levied August 2016 in Vancouver, the real estate market did cool. But a slow creep has been evident in the region. A similar pattern is visible in Toronto, too, which enacted foreign buyer taxes April 2017. “The Ontario government's Fair Housing ...

 

News – November 15, 2017

Vancouver market has 'regained lost ground' after foreign-buyer tax last year: Teranet 

 

Business in Vancouver 

Teranet's figures differ from those published by the Real Estate Board of Greater Vancouver and the British Columbia Real Estate Association, ...

 

Vancouver Development Wins Global Award for Excellence 

Markets Insider 

The winners were selected by an international jury made up of ULI members from various real estate development disciplines. The ULI Awards for ...

 

Toronto, Vancouver house prices set for rise: CIBC report 

CBC.ca 

According to the Toronto Real Estate Board, 7,118 homes were sold in the area in October, up 12 per cent from September, but still down down 27 per ...

 

Land values and condo prices constrain purpose-built rental units, say developers 

Vancouver Sun 

Cynthia Jagger, of HQ Commercial, speaks at a real estate conference hosted by Queen's University in Vancouver on Tuesday. Nick Procaylo / PNG.

 

Vancouver rentals 44th most expensive in world: report 

Vancouver Sun 

Rents for one-bedroom apartments in the Vancouver area are the priciest in Canada, but they're not anywhere close to the most expensive in the ...

 

 

News – November 14, 2017

Toronto, Vancouver housing markets to boom despite new rules to ease froth: CIBC 

 

The Globe and Mail 

The housing markets in Toronto and Vancouver are poised for major long-term price growth as booming demand and inadequate supply overwhelm ...

 

Home sales down in Metro Vancouver, but up in BC 

Vancouver Sun 

A real estate sold sign is shown outside a house in Vancouver, Tuesday, ... Home sales in Metro Vancouver were down in October compared to the ... B.C., an increase of 19.3 per cent from last year, despite a housing supply crunch.

 

Developer to revise controversial project proposal in Vancouver's Chinatown 

The Globe and Mail 

Developer to revise controversial project proposal in Vancouver's ... Vancouver's planning director says he believes the developer trying to build a ... the city has no power to compel the developer to provide a certain kind of housing.

 

Home sales in BC rise in October despite higher prices, less choice 

Times Colonist 

A real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan.3, 2017. British Columbia's housing market continues to power forward ...

 

Real estate is bigger in BC's economy than oil is in Alberta's, but here's the thing 

Globalnews.ca 

Real estate, rental and leasing take up a share of B.C.'s economy that is so large, ... and has eroded affordability in Vancouver to the worst level it's ever been. But should British Columbians be worried that real estate forms such a ...

 

News – November 10, 2017

Experts see some relief for Vancouver's tight housing market by late 2018 

 

CanadianBusiness.com 

VANCOUVER _ A real estate association watching Metro Vancouver's tight and costly housing market predicts conditions should begin to ease by the ...

 

The Least Affordable City in North America Is Not in the US 

Money Magazine 

The International Housing Affordability Survey, a new study conducted by real estate website Point2Homes, says that Vancouver is the least affordable ...

 

Vancouver tells owners to fill out empty-home tax forms or face fines 

ETRealty.com 

It would add up to C$36,000 a year on a C$3.6 million detached home, the typical price on Vancouver's west side, according to the Real Estate Board ...

 

Annual rate of homes entering construction jumped in October, CMHC reports 

Toronto Star 

In Vancouver, the annual pace of housing starts nearly doubled to 34,850 compared with 18,116 in September. Multi-unit starts soared to 30,384 ...

 

Tent city site, DTES location eyed for Vancouver's next modular housing

MetroNews Canada 

The province has committed to funding 600 units of temporary modular housing in Vancouver, and 2,000 units across B.C. over the next three years.

 

If people can't afford to work in Vancouver, what happens to the city? 

Globalnews.ca 

It's an issue that many have pinned on the city's high cost of housing. ... LISTEN: What will happen to Vancouver if no one can afford to work there?

 

News – November 8, 2017

Vancouver warns owners of empty homes to fill out new declaration forms, or face stiff fines 

 

 

Financial Post 

 

It would add up to $36,000 a year on a $3.6-million detached home, the typical price on Vancouver's west side, according to the Real Estate Board of ...

 

Canada Housing Starts Rise in October on Condo Demand -- Update 

 

Fox Business 

 

... were driven by strength in Vancouver, British Columbia, as seasonally adjusted monthly starts hit a one-year high on demand for condominiums.

 

5 charts showing Metro Vancouver's affordability has become worse despite the foreign buyers tax 

CBC.ca 

 

New real estate data shows that when it comes to affordability, Metro Vancouver's housing market hasn't substantially improved since a regional 15 ...

 

North Vancouver's Maplewood neighbourhood plan passes first vote 

 

 

North Shore News 

 

District of North Vancouver council has given its first tentative thumbs-up to a ... At full build-out, Maplewood's plan would mean 1,500 new condos and ...

 

Experts see some relief for Vancouver's tight housing market by late 2018 

 

Times Colonist 

 

VANCOUVER — A real estate association watching Metro Vancouver's tight and costly housing market predicts conditions should begin to ease by the ...

 

 

 

 

News – November 7, 2017

Vancouver housing market could see some relief by late 2018: Real Estate Association 

BNN 

VANCOUVER - A real estate association watching Metro Vancouver's tight and costly housing market predicts conditions should begin to ease by the ...

 

Vancouver warns homeowners to fill in forms on empty homes tax or risk fine 

CTV News 

Vancouver warns homeowners to fill in forms on empty homes tax or risk fine ... Toronto, Vancouver home sales above average in October, real estate ...

 

Political meddling stalls development as housing starts decline 

Business in Vancouver 

... that knocked Vancouver out of the top spot in the new Emerging Trends in Real Estate report PwC prepares each year for the Urban Land Institute.

 

Vancouver Had Over 366000 Residential Mortgages During Census 2016 

Better Dwelling 

Vancouver's residential mortgage pool continues to grow. The new release from Statistics Canada show that the Vancouver Census Metropolitian ...

 

 

 

News – November 6, 2017

 

 

 

Uh oh… The Vancouver Real Estate Price Roller Coaster Just Accelerated Again 

 

Better Dwelling 

 

Numbers from the Real Estate Board of Greater Vancouver (REBGV) show that prices have once again printed a new all-time high. This is the seventh ...

 

 

 

Report calls Vancouver most unaffordable real estate market in North America 

 

Vancouver Sun 

 

A new study of the 50 most populous cities in North America has found that Vancouver has the most unaffordable housing market. DARRYL DYCK / ...

 

 

 

Surrey beats Vancouver in list of Top 10 cities in BC to invest in real estate

 

Straight.com 

 

In the 2014 report, Vancouver placed ninth in the list. Founded by analyst Don Campbell, REIN is a Langley-based real-estate research, education, ...

 

 

 

Vancouver housing market likely to cool, prices won't decrease just yet: realtor 

 

News1130 

 

VANCOUVER (NEWS 1130) – You may not be able to afford a home with the rate housing prices are increasing right now, but they're likely to stop ...

 

 

 

Above-average sales numbers observed in Vancouver, Toronto last month 

 

Mortgage Broker News 

 

In Toronto, home sales rebounded by 12% from September to October with 7,118 homes sold, according to the Toronto Real Estate Board.

 

 

 

News – November 3, 2017

 

 

 

Vancouver, Toronto home sales above average in October, say real estate boards 

 

News1130 

 

real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan.3, 2017. The British Columbia Real Estate Association says a lack of ...

 

 

 

Apartment sales driving Lower Mainland housing market 

 

Surrey Now-Leader 

 

Vancouver and the Fraser Valley both experienced above-average home sales last month, according to local real estate board figures, as buyers try to ...

 

 

 

Foreign buyers find loophole in Vancouver real estate

 

Mortgage Broker News 

 

Foreign buyers find loophole in Vancouver real estate Foreign buyers are back in Vancouver's residential real estate market, accepting the foreign ...

 

 

 

Housing prices expected to cool next year: report 

 

Business in Vancouver 

 

Vancouver's housing market has reached unaffordability levels not seen ... The changes may erode confidence in the market and real estate values ...

 

 

 

Foreign buyers not swayed by 15-per-cent housing tax, data show 

 

The Globe and Mail 

 

The proportion of foreign buyers in the Vancouver region is at its highest level since the province's 15-per-cent tax on these purchasers came into ...

 

 

 

News – November 2, 2017

 

Homes sales in October set new record for Metro Vancouver real estate

Straight.com 

The REBGV covers Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, South ...

 

Toronto, Vancouver home sales above average in October: real estate boards 

CTV News 

VANCOUVER -- Canada's two hottest housing markets experienced above-average home sales last month, according to local real estate board ...

 

Foreign buyers not swayed by 15-per-cent housing tax, data show 

The Globe and Mail 

Condos in the Gilmore area of Burnaby are seen in the distance behind ... The proportion of foreign buyers in the Vancouver region is at its highest ...

 

Vancouver's housing is now more expensive than Manhattan, San Fransisco: study 

Daily Hive 

In yet another shocking Vancouver real estate revelation, a new study has found that housing in Vancouver is more expensive than Manhattan, New ...

 

$36M property sets new real estate record for North Vancouver

CTV News 

"This North Vancouver estate provides an opportunity to own the most significant, private parcel of land in one of the most robust real estate markets in ...

 

 

 

News – November 1, 2017

 

Britain's Grosvenor to build condo tower in Vancouver

Business in Vancouver 

 

British developer Grosvenor, famous for pioneer projects during its six decades in Metro Vancouver, is building its first Vancouver condominium tower.

 

 

Foreign buyers inch back into Vancouver housing market 

BNN

Foreign buyers have started inching back into the Vancouver housing market, more than a year after the province of British Columbia imposed a ...

 

 

BC real-estate sales to foreign nationals still concentrated in Metro Vancouver despite extra tax there 

Straight.com 

 

The provincial government has released a long-awaited update on real-estate data related to sales to foreign nationals. Last September, an even five ...

 

 

District of North Vancouver moves towards “locals first” policy for condo pre-sales 

North Shore News 

 

When it comes to the selling of new condo and townhouse units built in the District of North Vancouver, council would like to see local buyers at the ...

 

 

This is how many of Toronto's families are living in condos — and it's just the beginning 

BuzzBuzzNews

Crook's blog, “5 Kids 1 Condo,” details his life living in a 1,023 square-foot condo in Vancouver with his partner and five children. Families in ...

 

 

 

News – October 31, 2017

 

Metro Vancouver condo and townhome prices slated to climb over the next 2 years: CMHC 

BuzzBuzzNews 

With continued demand for apartments and townhomes in Metro Vancouver's resale market, prices are forecast to march upwards over the next two ...

 

Mortgage Professionals Canada discusses negative impact of new rules on canadian housing ... 

Canada NewsWire (press release) 

Members discussed issues of housing affordability, availability and ... in the Greater Toronto Area and to a lesser extent the Greater Vancouver Area.

 

Vancouver now more unaffordable than Manhattan 

MetroNews Canada 

Vancouver now more unaffordable than Manhattan ... Vancouver now exceeds Manhattan when it comes to unaffordable housing, according to an ...

 

City set to vote on controversial Kerrisdale church development 

Vancouver Sun 

Despite vocal opposition from the neighbourhood, a housing expert who supports densification in Vancouver's pricey West Side neighbourhoods said ...

 

Vancouver preparing additional cold-weather shelter beds 

CBC.ca 

Vancouver preparing additional cold-weather shelter beds ... "We have the 600 modular housing units, the temporary modular housing that we'll be ...

 

News – October 30, 2017

 

China's 'Golden Week' props up luxury property demand 

National Observer 

In cutthroat real estate markets like Vancouver's, Chinese “Golden Week" in early October is auspicious. Chinese families often celebrate the week ...

 

Foreign investors flock to Montreal thanks to downtown construction boom 

CBC.ca 

Montreal trails Toronto and Vancouver in condominium developments ... However, Fischler said there is a concern that too many condos are being ...

 

Chinatown's 105 Keefer development application goes before city staff Monday 

Vancouver Sun 

A group of protestors gathered outside of Vancouver's City Hall to show their ... had suggested 25 units of social housing and 106 market condos would be ... The latest person to chime in on the 105 Keefer project is Vancouver East ...

 

Douglas Todd: Surging temporary foreign resident numbers tighten Vancouver's rental squeeze 

Vancouver Sun 

Since temporary residents are much more likely to choose rental housing ... At the same time that the rental crisis has widened in Metro Vancouver, ...

 

Vancouver's notorious Downtown Eastside changes with development 

Humboldt Journal 

Vancouver's notorious Downtown Eastside changes with development ... Real estate agent Adam Scalena said he has noticed an abrupt shift in the ...

 

News – October 27, 2017

 

In Metro Vancouver, 43 per cent of renters are living in homes they can't afford: Census 

Globalnews.ca 

Therefore, more than 43 per cent of residents in the Vancouver CMA were living in housing that can't necessarily be considered affordable.

 

Twin towers planned in the West End up for review by Vancouver urban design advisers 

Straight.com 

Twin towers planned in the West End up for review by Vancouver urban design ... to be turned over to the City of Vancouver for use as social housing.

 

North Vancouver's Maplewood redevelopment plan nears vote 

North Shore News 

In that same time period, the plan calls for another 1,500 units of housing, although district intends for much of the housing to be occupied primarily by ...

 

BC government moves to protect renters by closing fixed-term 'loophole' 

Vancouver Sun 

The party was subsequently punished by voters in Metro Vancouver over issues like its slow response to housing affordability. “There are a number of ...

 

South Vancouver residents protest housing units for homeless 

The Globe and Mail 

Vancouver Mayor Gregor Robertson is fielding complaints about a proposed housing site for homeless people in the city's Marpole neighbourhood.

 

News – October 26, 2017

 

Vancouver housing market remains 'highly vulnerable': CMHC 

CTV News 

CMHC says Vancouver's housing market remained highly vulnerable, with evidence of moderate overheating and price acceleration, and strong ...

 

1.9 million Canadian households live in condos, census data shows 

CBC.ca 

In Vancouver, for example, more than 30 per cent of the population lives in condos, the highest percentage in Canada by far. Condosare home to 21.8 ...

 

BC, Ontario mull pre-construction condo sales registry amid CRA crackdown 

Vancouver Sun 

The agency says real estate deals in the hot housing markets in the Toronto and Vancouver areas have been the subject of greater scrutiny

 

Vancouver, industrial construction king; Surrey, transit pauper 

Business in Vancouver 

Bifurcation of Vancouver's non-residential real estate market is evident in new statistics from CBRE Ltd., which highlight the shares specific regions of ...

 

Vancouver building modular housing project along Cambie corridor 

Vancouver Sun 

The new homes, announced Thursday morning by the City of Vancouver, B.C. government and the Vancouver Affordable HousingAgency, are part of ...

 

News – October 24, 2017

 

Vancouver's west side tops 'most expensive neighbourhood' list to live in Canada 

News1130 

VANCOUVER (NEWS 1130) – It should come as no surprise that Vancouver tops real estate lists for most expensive in Canada. In fact, Metro ...

 

These Are Canada's Priciest Neighbourhoods, According To Century 21 

Huffington Post Canada 

Houses in Horseshoe Bay, West Vancouver, B.C. West Vancouver ranks as the third priciest place for residential real estate in Canada, according to a ...

 

Housing starts stumble in Metro Vancouver

Business in Vancouver 

In contrast, urban-area housing starts outside the Vancouver CMA are rising. Starts spiked higher in Victoria, which was the main driver of the ...

 

Development cost charges could triple in parts of Metro Vancouver under new proposal 

Surrey Now-Leader 

Metro Vancouver real estate developers might be a bit more cautious if a proposed hike to development cost charges goes through this Friday.

 

Vancouver commercial real estate investment outpaces Toronto 

Western Investor 

Commercial real estate investment in Metro Vancouver – population 2.4 million – have surpassed that of Greater Toronto – population 6.4 million – for ...

 

 

News – October 25, 2017

 

 

North Van developer says the industry needs to do more to help with the housing crisis 

 

Globalnews.ca 

With Metro Vancouver's housing crunch in full swing, developers have been a popular target for anger over the cost of housing. One North Vancouver ...

 

  

Census 2016: Toronto housing affordability now worse than Vancouver

 

The Globe and Mail 

 

A realtor's sign is placed on the front yard of a home on Beachdale Ave. that has been sold and was photographed in Toronto's east end on May 17, ...

 

Fumano: Vancouver, already inhospitable to independent businesses, bucks national trend by ... 

 

Vancouver Sun 

 

And at the same time, real property tax growth in Metro Vancouver has closely tracked a rise in municipal spending and dramatically outpaced ...

 

Vancouver home to Canada's top two priciest neighbourhoods 

 

urbanYVR (blog) 

 

Vancouver West Side, and Vancouver Downtown are Canada's top two ... with many recent presale condominium projects in downtown Vancouver ...

 

 

City of Vancouver to host public hearing on short-term rental sites 

CTV News 

 

Members of the public are invited to Vancouver City Hall Tuesday evening to discuss how the city should regulate short-term rentals such as those ...

 

 

News – October 24, 2017

 

Vancouver's west side tops 'most expensive neighbourhood' list to live in Canada 

News1130 

VANCOUVER (NEWS 1130) – It should come as no surprise that Vancouver tops real estate lists for most expensive in Canada. In fact, Metro ...

 

These Are Canada's Priciest Neighbourhoods, According To Century 21 

Huffington Post Canada 

Houses in Horseshoe Bay, West Vancouver, B.C. West Vancouver ranks as the third priciest place for residential real estate in Canada, according to a ...

 

Housing starts stumble in Metro Vancouver

Business in Vancouver 

In contrast, urban-area housing starts outside the Vancouver CMA are rising. Starts spiked higher in Victoria, which was the main driver of the ...

 

Development cost charges could triple in parts of Metro Vancouver under new proposal 

Surrey Now-Leader 

Metro Vancouver real estate developers might be a bit more cautious if a proposed hike to development cost charges goes through this Friday.

 

Vancouver commercial real estate investment outpaces Toronto 

Western Investor 

Commercial real estate investment in Metro Vancouver – population 2.4 million – have surpassed that of Greater Toronto – population 6.4 million – for ...

 

News – October 23, 2017

 

Kelowna, Surrey among 2018's best real estate investment destinations 

Western Investor 

The largest city – 127,800 residents – between Metro Vancouver and Calgary, Kelowna is the dominant trading centre for the Okanagan Valley, B.C.'s ...

 

City of Vancouver donates $25 million in land to build 358 affordable homes 

Vancouver Sun 

Mayor Gregor Robertson said in a statement he was excited to open Vancouver's first land-trust units of affordable housing. “Land trusts are an ...

 

Prominent Real Estate Firm Intracorp, Operating in Both Canada and the US, Will Going Forward ... 

GlobeNewswire (press release) 

VANCOUVER, British Columbia, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Intracorp today unveiled that its North American offices, currently located in ...

 

News – October 20, 2017

 

West Vancouver to vote on saving Ambleside's Rush House 

North Shore News 

West Vancouver council will soon vote on whether to provide permanent protection to one of ... This is the right size and type of housing,” said Coun.

 

Canada's Largest Cities See Big Spikes In Rental Rates 

Huffington Post Canada 

Already the priciest market in the country for apartment rentals, Vancouver saw the largest spike in prices of any city covered in the Padmapper survey, ...

 

Grosvenor Pacific takes cautious approach with downtown Vancouver condo 

The Globe and Mail 

Grosvenor has been building in and around Vancouver for 60-plus years, ... The privately owned company's most prestigious real estate asset is the ...

 

Government announces $50000 threshold for passive income 

Business in Vancouver 

Money earned from investments like stock, bonds and rental real estate in a ... In September, Faculty Brewing Co., a Vancouver based brewery, told ...

News – October 19, 2017

 

Vancouver's bid to house Amazon's second headquarters given green light 

Globalnews.ca 

“But the outer reach aspect of Vancouver is that it's not very open in terms of an affordable housing market. If you think of other young tech hubs in the ...

 

10 most expensive cities to own a home around the world 

Born2Invest 

Prepare yourself with excessive property prices that continue to increase and ... Vancouver ranks high as one of the cities with skyrocketing real estate ...

 

10-storey social housing and medical office proposed for Downtown Eastside 

urbanYVR (blog) 

A revised proposal for a 10-storey social housing building at 58 West ... with Vancouver Coastal Health and Vancouver Affordable Housing Agency ...

 

News – October 18, 2017

 

 

 

Vancouver city council gives green light to 'locals-first' pre-sale housing policy 

 

Globalnews.ca 

 

A controversial motion that would give Metro Vancouver residents first crack at new pre-sale condos passed at city hall on Tuesday, following much ...

 

 

 

Slower sales cap wobbly September for Vancouver real estate

 

Vancouver Courier 

 

A slower week in the real estate marked wrapped up a volatile September for Vancouver home sales, in which total Greater Vancouver sales were not ...

 

 

 

Vancouver Chinatown advisory committee rejects new development application for 105 Keefer Street 

 

Straight.com 

 

The committee that advises the City of Vancouver about Chinatown ... Lee said that there was a general agreement that market housing "wasn't quite ...

 

 

 

District of North Vancouver to consider 9 new homes on forested lot 

 

North Shore News 

 

Staff at the District of North Vancouver will soon have to decide whether to subdivide a rare, estate-sized ... What's lacking is affordable, family housing.

 

 

 

Out-of-town homebuyers have driven Vancouver prices up 5-10%: UBC study 

 

Business in Vancouver 

 

Purchases of homes across Greater Vancouver by those from outside the ... it is much more expensive for them to pay for housing going forward.”.

 

 

News – October 18, 2017

 

 

 

Vancouver city council gives green light to 'locals-first' pre-sale housing policy 

 

Globalnews.ca 

 

A controversial motion that would give Metro Vancouver residents first crack at new pre-sale condos passed at city hall on Tuesday, following much ...

 

 

 

Slower sales cap wobbly September for Vancouver real estate

 

Vancouver Courier 

 

A slower week in the real estate marked wrapped up a volatile September for Vancouver home sales, in which total Greater Vancouver sales were not ...

 

 

 

Vancouver Chinatown advisory committee rejects new development application for 105 Keefer Street 

 

Straight.com 

 

The committee that advises the City of Vancouver about Chinatown ... Lee said that there was a general agreement that market housing "wasn't quite ...

 

 

 

District of North Vancouver to consider 9 new homes on forested lot 

 

North Shore News 

 

Staff at the District of North Vancouver will soon have to decide whether to subdivide a rare, estate-sized ... What's lacking is affordable, family housing.

 

 

 

Out-of-town homebuyers have driven Vancouver prices up 5-10%: UBC study 

 

Business in Vancouver 

 

Purchases of homes across Greater Vancouver by those from outside the ... it is much more expensive for them to pay for housing going forward.”.

 

News – October 17, 2017

 

One-bedroom rents in Vancouver rise to $2120 

 

Vancouver Courier 

 

The median rental price for a one-bedroom apartment in Vancouver has gone up by five per cent in the last month, according to the latest report by ...

 

Can Vancouver build its way to affordability? 

 

News1130 

 

“While housing prices in Vancouver, as in my home city of Seattle, have been going through the roof, cities around the world have been keeping ...

 

BC government says housing affordability plan coming “soon” 

 

Globalnews.ca 

 

Recent reports from the Vancouver Sun's Sam Cooper lay out how foreign or illegally earned money is being laundered in Metro Vancouver casinos ...

 

Vancouver's economy set to cool considerably over the next two years 

 

Canada NewsWire (press release) 

 

Rising interest rates, the relative absence of foreign purchasers, and a slowing economy will all slightly temper Vancouver's housing demand

 

 

RBC CEO backs new measures to help cool housing markets 

 

The Globe and Mail 

 

Dave McKay believes further dampening of the explosive growth in housing prices across the Toronto and Vancouver markets "is in all our interests," ...

 

Daily Poll: Would you leave Vancouver due to the rising cost of housing

 

Vancouver Sun 

 

The median asking price for a one-bedroom apartment in Vancouver has increased to $2,120, according to the latest PadMapper Canadian rent report ...

 

 

 

 

News – October 16, 2017

 

Vancouver council to debate putting locals ahead of foreign buyers in lines for real-estate pre-sales 

Straight.com 

Tomorrow (October 17) the mayor will formally ask Vancouver city council to asks staff to figure out how to put “local” first when it comes to real-estate ...

 

Vancouver's housing crisis key issue for newly-elected city councillor 

Globalnews.ca 

Hector Bremner looks forward to helping ease people's concerns around Vancouver's housing market. “Now with four votes on the council, I think it's ...

 

One-bedroom rents in Vancouver rise to $2120 

Vancouver Courier 

The median rental price for a one-bedroom apartment in Vancouver has gone up by five per cent in the last month, according to the latest report by ...

 

The investor behind The Big Short says Canada is 'ripe' for a severe housing correction 

Financial Post 

Canada's housing market is “ripe for a pretty severe correction” with ... Vancouver's million-dollar home prices aren't just straining buyers, they're ...

 

Vision Vancouver says it heard people 'loud and clear' on housing, but some are skeptical 

Globalnews.ca 

Mayor Gregor Robertson said Vision Vancouver has heard people's concerns about housing “loud and clear” after its candidate came in fifth in the ...

 

 

News – October 13, 2017

 

Canada housing market rebound seen in mid-2018 as sales rise for second month in a row 

Financial Post 

“Further tightening of federal regulations aimed at cooling housing markets in Toronto and Vancouver risks creating collateral damage in markets ...

 

Price of Metro Vancouver condos surge, detached homes drop: survey 

Vancouver Sun 

Metro Vancouver condo prices surged in the third quarter says a new real estate price survey released Thursday. Royal Lepage's survey found the ...

 

Vancouver official says city's presale condo plan addresses lack of public trust 

The Globe and Mail 

A senior official in the office of Mayor Gregor Robertson has privately acknowledged Vancouver's plan to give locals a first crack at buying presale ...

 

Greater Vancouver home sales down 17% year-to-date in September: BCREA 

Business in Vancouver 

Greater Vancouver home sales down 17% year-to-date in September: ... to British Columbia Real Estate Association data released October 12.

 

Is Canada's housing market too hot? 

Advisor.ca 

“For the first time since 2011, we are seeing real estate in all five of our ... Market corrections were triggered in Vancouver first, and some 10 months ...

 

News – October 12, 2017

 

Metro Vancouver condo prices continue to skyrocket 

News1130 

“I think the condos have been attractive because, relatively speaking, they are the last touchpoint of affordability in Greater Vancouver. Prior to this last ...

 

Average cost of a condo in Metro Vancouver is now $622392 

Daily Hive 

Greater Vancouver's real estate market is being propped up by its condo sales, as the average price of detached homes drops, according to Royal ...

 

Is increasing supply worsening Metro Vancouver housing affordability? 

Business in Vancouver 

Supply is said to be the solution to affordable housing in Metro Vancouver, ... In the Brentwood area where the most new condos are being built, the ...

 

Canada's big housing markets in 'Goldilocks moment': Royal LePage 

CBC.ca 

He added that, for now, the housing markets in Toronto and Vancouver have "returned to earth." The two cities led the housing market with big price ...

 

Investors speculate with new Vancouver office tower 

Western Investor 

Vancouver Centre II will rise 33-storeys at the corner of Seymour Street and ... GWL Realty Advisors is developing the tower on behalf of the project ...

News – October 11, 2017

 

British Columbia eyes 'all options' to cool Vancouver housing market, finance minister says 

Toronto Star 

British Columbia eyes 'all options' to cool Vancouver housing market, ... Vancouver is ranked among global cities most at risk of a housing bubble for ... to cash out and new investors to buy in without paying property-transfer taxes. ... 'Puzzling' Toronto real estate market could frustrate push for price fix, ...

 

Development industry criticizes mayor's pre-sales initiative 

Vancouver Courier 

“In Vancouver's red-hot housing market, local employers are crunched to retain talent, whether they're doctors, tech workers, retailers, firefighters, ...

 

BC home resales to drop 8% next year: RBC forecast 

Business in Vancouver 

Canada's housing market is in a cooling phase, according to RBC's ... toll on already-strained housing affordability in markets such as Vancouver and ...

 

Building passive towers a tall order for developer 

Business in Vancouver 

If rezoning is successful, Landa Global Properties and Asia Standard ... condo towers in Metro Vancouver and is an active developer in Shanghai.

 

News – October 10, 2017

 

Vancouver Real Estate Inventory Rises To A 23 Month High 

Better Dwelling 

 

Vancouver real estate prices continued to rise in September. Numbers from the Real Estate Board of Greater Vancouver (REBGV) show prices are still ...

 

BC labour income remains strong in 2017 

Business in Vancouver 

 

... mining/oil and gas in the goods sector, and transportation and warehousing, real estate and leasing, and accommodations/food services in services.

 

Mayor says he wants a plan that puts Vancouver residents at the front of the line for real-estate sales 

Straight.com

 

Vancouver Mayor Gregor Robertson has called for a luxury tax and a tax on empty homes, among other measures, as means of helping begin to bring ...

 

Douglas Todd: Vancouver's ethnic Chinese irked by inequality, tax avoidance 

Vancouver Sun

Yan's study echoes two reports by veteran real-estate researcher Richard Wozny and UBC geographer Dan Hiebert, which show that residents of core ...

 

  

News – October 6, 2017

City of Vancouver unveils $28M housing project, calls for gov. assistance 

 

Globalnews.ca 

City of Vancouver unveils $28M housing project, calls for gov. assistance ... The City of Vancouveris unveiling an affordable homes project located ...

 

Mayor Robertson makes move to give locals first crack at condo pre-sales 

Vancouver Sun 

New motion from Mayor Gregor Robertson prioritizes housing for people who live, work in Vancouver by giving local residents first shot at buying ...

 

Huge increases in housing construction fee for Metro Vancouver sewer services coming down the ... 

Straight.com 

“While these DCC's represent only a very small portion of the cost of new housing, these rates are a significant increase over the existing rates,” ...

 

$1.9m vs $4.5m: East-west divide in Vancouver's detached home listings 

Vancouver Courier 

Even though the median sale price of a Vancouver detached house ... A $5.9 million Yaletown waterfront condo with nearly 2,200 square feet of living ...

 

Vancouver council candidates square off in housing and homelessness forum 

CBC.ca 

People vying for a spot on Vancouver city council will be making their pitch to voters at a forum Thursday evening. NPA candidate Hector Bremner, ...

 

News – October 5, 2017

Vancouver developer hikes fee for re-assigning a pre-sale condo in effort to dampen speculation 

 

Vancouver Sun 

 

Condo sales and prices are on fire. And now, developers of a prominent condo project in Vancouver's West End, which won't be completed until 2019, ...

 

 

Vancouver's detached homes edge toward buyer's market as condos favour sellers | CFJC Today 

CFJC Today Kamloops 

 

VANCOUVER — Condo and townhouse sales in Vancouver are firmly in a seller's market, while the market for detached homes is edging toward a ...

 

 

Province OKs rent-to-own program that helps 'avoid' foreign buyers' tax 

 

CBC.ca 

 

 

The Vancouver Rent to Own program from Apex Western Homes offers ... That evaluation left Vancouver real estate lawyer Richard Bell scratching his ...

 

GTA sees 35 per cent drop in home sales from year ago 

 

CTV News 

 

The Toronto Real Estate Board says sales of all major types of residential property were down but the biggest decline was a 40.4 per cent drop in

 

Toronto house-price slump ends with September rise 

The Globe and Mail 

 

The Real Estate Board of Greater Vancouver reported on Tuesday that the benchmark price for condos was up 22 per cent in September compared ...

 

 

 

News – October 4, 2017

Vancouver condos favours sellers, detached homes edge towards buyers 

CTV News 

 

VANCOUVER -- Condo and townhouse sales in Vancouver are firmly in a seller's market, while the market for detached homes is edging toward a ...


Brisk condo sales fuel Greater Vancouver housing market 

The Globe and Mail 

Brisk condo sales are driving Greater Vancouver's real estate market while the pace of price gains has slowed to a crawl in the once-mighty segment ...

 

Fall real estate market activity ramps up in Vancouver

Vancouver Courier 

There were stronger sales across all residential housing types in Vancouver the week of September 11 to 17. Photograph By Dan Toulgoet.

 

West Vancouver lacks housing options: Vital Signs report 

North Shore News 

More than half of those surveyed, however, said they were pessimistic they would be able to find the right housing in West Vancouver, either due to ...

 

Rental stock fundamental to Metro's affordable-housing supply 

Business in Vancouver 

Vancouver didn't make the list: for its global rankings, Century 21 chose West Vancouver, which ranked sixth for apartment prices at $1,173 per square ...

 

 

News – October 3, 2017

Fall real estate market activity ramps up in Vancouver

 

Vancouver Courier 

Real estate sales activity in Vancouver jumped in the week September 11-17, following a slower start to the month, as the fall market ramped up and ...

 

Brisk condo sales fuel Greater Vancouver housing market 

The Globe and Mail 

Brisk condo sales are driving Greater Vancouver's real estate market while the pace of price gains has slowed to a crawl in the once-mighty segment ...

 

Vancouver tech sector needs boost to reach critical mass 

Real Estate News EXchange 

He said labour eats up about 93 per cent of a Vancouver tech firm's budget, while real estate takes up the remainder. “Vancouver is a great value play ...

 

RioCan selling up to $2 billion in real estate in smaller markets to focus on Canada's big six cities 

Financial Post 

Ross Moore, a vice-president of real estate company Cresa in Vancouver, said he expects the market to be able to handle the $2 billion in activity and ...

 

Watch Toronto real estate heat up and cool down over the past year 

Better Dwelling 

Toronto real estate went from booming to excess in just a few short months over the past year. I'm preparing some notes for next week's CMHC panel ...

 

News – October 2, 2017

Mansion Tax: first aid for a dying city 

24 Hours Vancouver 

 

This week's question: Should Vancouver have a Mansion Tax? ... But each new luxury condo tower only fuels the virtually limitless demand for homes ...

 

 

Passive highrises planned for Vancouver's West End 

Vancouver Sun 

 

Vancouver has been called the City of Glass for the tall, thin, glass condos that dominate the downtown landscape. But a new proposed project at ...

 

 

How Port Moody could have been bigger than Vancouver

Globalnews.ca 

 

Today, Port Moody is a growing Metro Vancouver suburb, home to a ... After CP left, the city faced a financial crisis as real estate values plummeted.

 

 

Too many bedrooms: Single-family zoning contributes to housing shortage, UBC expert says 

Vancouver Sun 

 

29 in Vancouver, looked at how single-family zoning contributes to Metro ... But the director of the UBC Centre for Urban Economics and Real Estate ...

 

News – September 29, 2017

 

Owning a home now costs 87 percent of middle-class incomes in Metro Vancouver

Straight.com 

The association also noted that housing prices in Vancouver as well as Victoria “continued to skyrocket, which had a negative impact on home ...

 

Canada's housing affordability at worst level in decades 

News1130 

VANCOUVER (NEWS 1130) – Housing affordability in this country has hit its worst level in almost 30 years, and Vancouver continues to be the most ...

 

Toronto and Vancouver among global cities at greatest risk of housing bubble: UBS 

CBC.ca 

Toronto has topped the list of major global cities most at risk of a housing bubble with Vancouver ranking fourth, according to a new report by UBS ...

 

Richmond, Downtown Eastside have similar levels of low-income, working-aged people: study 

Globalnews.ca 

One is a Vancouver suburb with rapid transit, pricey housing and condos for expensive cars. The other has poverty levels so high that it's been cited, ...

 

Latest figures show the number homeless people in metro Vancouver is growing 

Radio Canada International 

Metro Vancouver's homeless count, which takes a one-night snapshot of ... Port Moody Mayor Mike Clay is chair of the Metro Vancouver Housing ...

 

News – September 28, 2017

 

Housing expert questions Vancouver council candidate's mansion tax 

CBC.ca 

A proposal by a Vancouver city council candidate to introduce a so-called mansion tax wouldn't pour as much revenue back into affordable housing as ...

 

Sales of Vancouver Luxury Homes Decline As a Result of Foreign Buyer Tax 

Mansion Global 

Government cooling measures to temper Vancouver's blazing real estate market appear to be working. Sales of C$1 million-plus (US$802,900-plus) ...

 

Vancouver among world's most expensive real estate market: survey 

Globalnews.ca 

WATCH: Some experts are saying the theory that the Metro Vancouver real estate bubble is going to burst doesn't stand up to the facts. Lynn Colliar ...

 

Solving BC's housing crisis will take courage, big moves 

National Observer 

Metro Vancouver is facing a housing crisis on every level – house prices are ridiculously high, the rental market is expensive and scarce, and the ...

 

GTA and Vancouver see more luxury condo sales 

REMI Network - Real Estate Management Industry Network 

Analysts also speculate that buyers are turning to condos in greater numbers due to trepidation over detached housing prices or because they are ...

 

BC government promises to work with municipalities to reduce homelessness 

Vancouver Courier 

Housing Minister Selina Robinson, who is also responsible for municipal ... of B.C. Municipalities conference at the Vancouver Convention Centre.

 

 

News – September 27, 2017

 

Sales of $1 million-plus condos up 85 per cent in the GTA and 11 per cent in Vancouver

Markets Insider 

 

Sales of $1 million-plus single-family detached homes declined 32 per cent in Vancouver year-over-year to start 2017. The foreign buyer tax ...

 

Commuting may cost more than avoiding a million-dollar Vancouver home: expert 

News1130 

 

The City of Vancouver is working on a 10-year strategy on housing affordability. Tuesday, the city's Housing Leadership Team will be talking about ...

 

 

Vancouver city officials, developers discuss housing affordability 

Vancouver Sun 

 

Vancouver grew its housing stock last year by 10,000 units, which Kelley said outstripped population growth, but “it's a lack of what we call the right ...

 

Vancouver home prices pale in comparison with Hong Kong 

 

Business in Vancouver 

Vancouver ranks as the sixth most expensive place among cities studied to buy a condo, according to the study, which pins the cost of a Vancouver ...

 

 

Homeless count finds housing affordability crisis driving numbers up 

CBC.ca 

 

Housing costs and a lack of income are driving up the numbers of Lower Mainland ... Metro Vancouver's homeless counts take a one night snapshot of ...

 

 

 

News – September 26, 2017

  

Median listing price for Vancouver homes reaches staggering $3 million 

 

Vancouver Courier 

 

The median listing price of a detached house in the city of Vancouver is now a staggering $3 million, as of September 21, an analysis of Multiple ...

 

Experts take on BC's housing-affordability crisis at annual UBCM 

 

Vancouver Sun 

 

It's not often that data about Metro Vancouver's much-debated housing ... in the property transfer tax on pricey homes, Vancouver's empty-homes tax ...

 

Multifamily market thrives in Vancouver

 

REMI Network - Real Estate Management Industry Network 

 

Overall investment in the Canadian commercial real estate sector is buoyed by a relatively healthy economy and a commercial property market that ...

 

Real estate experts gaze in Kelowna's 'Crystal Ball' of future development 

KelownaNow 

 

According to multiple experts, Kelowna's real estate development market is ... In Greater Vancouver alone, baby boomers, 55+ are sitting on tax free ...

 

Maple Ridge least extreme in rocketing real estate: study 

 

Surrey Now-Leader

He says that informal buyer surveys show that more than half the units in Vancouver condos near urban centres and transit are being bought by ...

 

 

 

News – September 25, 2017

 

Byelection candidate wants $174-million 'mansion tax' to fund housing for poor 

Vancouver Sun 

VANCOUVER, Jean Swanson and supporters rally at Chip Wilson's $75 million property to call for a Mansion Tax. Swanson presented a new notice of ...

 

How Much Did Toronto Real Estate Inventory *Really* Jump? 

Better Dwelling 

Numbers obtained from the Canadian Real Estate Association (CREA) show a massive build of inventory relative to last year. Crunching the numbers ...

 

1000 planned rental units convert to condos in wake of Ontario rent-control expansion 

The Globe and Mail 

The government's policy change reduced "growth prospects for rental" and contributed to a decision by RioCan Real Estate Investment Trust and ...

 

Opinion: Should we consider expropriation for 105 Keefer? 

Vancouver Sun 

In 1912, and for much of Vancouver's history, Chinatown and Chinese ... voted to reject the rezoning of 105 Keefer for 13 stories of luxury condos.

 

Amazon HQ: Where could you put a 100-acre tech campus in Metro Vancouver

The Province 

With Vancouver's leaders vying to become the home of a new Amazon headquarters, it raises the question of where in Metro could the world's largest ...

 

News – September 22, 2017

 

BC budget: Tax hike for wealthy, more money for education, housing, overdose crisis 

Vancouver Sun 

 

Interest rates are expected to rise, and B.C.'s economy is based heavily right now on the real estatesector, including lucrative property transfer tax ...

 

 

Rising prices push out long-time Vancouver residents 

The Globe and Mail 

 

In her case, her landlord can't afford soaring property taxes. .... least dampen the pretty powerful force at work in the real estate market here, which we ...

 

 

No, Montreal Real Estate Is Not The Next Vancouver or Toronto. Here's Why 

Better Dwelling 

 

Montreal real estate isn't hot, and it's not being driven by foreign buyers fleeing Toronto and Vancouver. There's significant media coverage on how ...

 

 

Pre-sale condo buyers at cancelled Langara West project contest developer's offer 

Vancouver Sun 

 

It is the latest in a Vancouver real estate saga with a bit of everything: a property developer in southern China, a mysteriously felled tree, City Hall ...

 

 

News – September 21, 2017

 

 

 

Interactive map shows income required to buy Vancouver houses