Vancity’s latest report, “Downsizing the Canadian dream: homeownership realities for Millennials and beyond,” includes an eyebrow-raising calculation for the Vancouver housing market: By: Michael Aynsley If current market trends continue, the average detached home in Vancouver will cost more than $2.1 million by 2030 — requiring more than 100 per cent of the median household income to maintain. Photo: Pete/Flickr...[ read more ]
The condominium landscape across Metro Vancouver gets more beautiful and exciting every day. And condos continue to be the popular choice for new homebuyers from all walks of life, including more and more single women. This started a few years ago, when the condominium lifestyle began receiving attention from more than just the empty-nester segment of the market. The feeling...[ read more ]
Gawk with us that grand penthouse suites at Modello in Burnaby Modello‘s Grand Estates Collection is 12 luxury penthouses spanning the top four floors of the Burnaby high-rise. Inside, each home boasts 48-inch side-by-side Sub-Zero fridge and freezers, Master Chef Miele premium appliance package, spa-inspired bathrooms with heated marble floors, 10-foot ceilings, heated covered terraces and unbeatable Metro Vancouver views....[ read more ]
Four high-profile international experts shared their thoughts about Vancouver's place in the global real estate market. By Christina Newberry Original Source: REW.ca In a city that loves to talk about real estate – especially how much it costs – real estate marketer Cam Good felt there was a gap in the conversation and that the perspective was focused inward rather...[ read more ]
You’ve probably seen a few headlines about the Bank of Canada’s (BoC) recent surprise decision to drop its key interest rate to 0.75 per cent. Related reading includes how the economy has shaped the central bank’s decision to change the rate, and how the monetary policy has been updated. It’s a lot of information packed into one article, so don’t...[ read more ]
From concept to occupancy By David Hirsh The start of 2015 brings exciting opportunities to purchase a new home. By the time you step into any sales office, there’s been plenty of research into the how’s and why’s behind every aspect of a community. Let’s take a look at the new home timeline – from concept to occupancy – that...[ read more ]
Home sale and listing activity reach historical norms in 2014 IT WAS A TYPICAL YEAR for the Metro Vancouver housing market in certain respects. The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased. The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014...[ read more ]
“An all-time record for building permit values is an important example of how Vancouver’s economic action strategy is working,” said Mayor Gregor Robertson Building permits issued by the City of Vancouver in 2014 hit a value of $2.83 billion, exceeding pre-recession levels and marking an all-time record in Vancouver’s growing economy. Building permit values of $2,825,700,469 in 2014 represent an...[ read more ]
Metro Vancouver ranks second behind Toronto for foreign buyers By Bruce Constantineau, Vancouver Sun Foreign residents own nearly six per cent of downtown Vancouver condominiums and 2.3 per cent of condos in the Metro Vancouver region, according to a Canada Mortgage and Housing Corp. survey. The survey — part of CMHC’s fall rental market report — found that 5.8 per...[ read more ]
Interest Rate Hike Unlikely in 2015: BMO By Wayne Karl Relax, Canada, not only is the real estate market not going to experience a U.S.-style crash, as some pundits continue to predict, but there’s isn’t even going to be any significant interest rate hike in 2015. This is according to Douglas Porter, chief economist of BMO Financial Group. He suggests...[ read more ]
