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

Highlights:

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

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

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

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

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

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The British Columbia Real Estate Association (BCREA) reports that a total of 103,763 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in 2017, a decline of 7.5 per cent from a record 112,211 unit sales in 2016. The average MLS® residential price in BC was $709,579 in 2017, up 2.7 per cent from the previous year. Total sales dollar volume was $73.63 billion, down 5.1 per cent from 2016.


“Robust housing demand in 2017 was underpinned by a strong economy, employment growth and rising wages,” said Cameron Muir, BCREA Chief Economist....

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The old Safeway on Austin Avenue is down to make way for a new and expanded grocery store. The property owner, Beedie Living, plans to build two new highrises after the store opens in the summer of 2019.

 

In the centre of Austin Heights, one of Coquitlam’s oldest neighbourhoods, excavators are at work tearing up the ground on the old Safeway site to make way for a massive redevelopment.

The 91,500-sq. ft. property at 1029-1033 Austin Ave. is owned by Beedie Living, the company that...

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The trend in housing starts was 226,777 units in December 2017, compared to 226,178 units in November 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“Despite the variation in activity across the country, the national trend in housing starts held steady at its highest level since 2008,” said Bob Dugan, CMHC’s chief economist. “Apartment starts in urban centres were up 6.2% in 2017 compared to 2016.”

Monthly highlights...

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There’s never a dull day in real estate. Last year started off with a big nervous question: Will the Canadian housing market crash? In 2018, the new year started off with more of a sigh. Analysts across North America came out with various pronouncements of deceleration in activity and pricing, but the overwhelming consensus was that the nation’s real estate landscape would flatten out, even in the hot Toronto and Vancouver markets.

It wasn’t too bold of a prediction. Activity was way down in the summer months of 2017, even as the number of listings was finally growing. This prompted...

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Fabulous Outdoor Space

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Price at $498,800

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Huge semi-private, West facing, outdoor patio with direct access to your suite; perfect for gardeners & pet owners alike. This 2bed/2bath/954sqft home shows very well.  Functional open concept layout with excellent room separation, you don’t want to miss this one! Features: freshly painted, cork flooring, SS apps w/gas stove, gas F/P & direct patio access. Huge master with ensuite, soaker & walk-in closet & a large 2nd bed complete this home. Located in The Harmony, a rental...

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VANCOUVER - An upward trend in housing prices isn't expected to significantly change in British Columbia despite an anticipated slowdown in sales this year, economists say.

The B.C. Real Estate Association's chief economist said Wednesday that new housing stock, slightly higher interest rates and tighter mortgage regulations will result in about a 10 per cent decline in sales compared with 2017.

But demand continues to outpace supply in most markets from Vancouver Island to the Okanagan, which spurs rising prices, Cameron Muir said.

"We would need a combination of a pretty substantial decline in...

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After reaching record levels in 2015 and 2016, Metro Vancouver* home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attachedand apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015. 

Last year’s sales total was, however, 9.7 per cent...

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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 ownership in the housing market with new numbers.

The subject has been in focus this year as policymakers have begun to grapple with what sort of impact, if any, non-Canadians residents are having on the housing market. Some say a flurry of interest from foreigners is driving up prices, while others...

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 Mortgage Rate Outlook

Canadian mortgage rates rose substantially in 2017 and are forecast to rise further in 2018. After beginning the year at or near historical lows for both the qualifying rate as well as 5-year contract rates, an acceleration of economic growth prompted a shift at the Bank of Canada and a withdrawal of stimulus implemented to help the economy absorb the oil-shock of 2015.

After the hawkish turn by the Bank of Canada, the Canadian 5-year bond yield, the key benchmark for the mortgage qualifying rate, seemed set on a higher trajectory before a slowing economy and the...

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The British Columbia Real Estate Association (BCREA) reports that a total of 7,731 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 20.4 per cent from the same period last year. Total sales dollar volume was $5.59 billion, up 39.1 per cent from November 2016. The average MLS® residential price in the province was $723,112, up 15.5 per cent from November 2016.



“November was the third consecutive month that BC home sales were above 9,000 units, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist....

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Fresh data on foreign investment in Toronto and Vancouver, Canada's largest cities, will be released next week in a move economists hope will shed light on what is driving demand - and a potential bubble - in the country's housing market.

While the Canada Mortgage and Housing Corp has said foreign investment accounts for only about 10 percent of sales activity, policymakers and voters alike have seized on the issue has a driving force behind precarious markets in both cities.

Statistics Canada's C$39.9 million, five-year project to better measure the market - using land registries and tax records,...

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The trend in housing starts was 226,270 units in November 2017, compared to 216,642 units in October 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The trend in housing starts reached its highest level in almost 10 years this November, reflecting a second consecutive increase in multiple starts,” said Bob Dugan, CMHC’s chief economist. “This largely reflects construction of multiple units in Toronto, where evidence...

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On December 6, 2017, the Bank of Canada announced it was keeping its trend-setting overnight lending rate on hold at 1%. The rate rose by 0.25% in July and again in September. Since then, the Bank has continued to caution that future interest rate increases depend on whether economic data suggest that inflation is starting to percolate.

The Canadian economy has been evolving broadly in line with the Bank’s October forecast. That said, the Bank has pointed to elevated global risks, in particular the renegotiation of NAFTA.

The Bank also remains vigilant for signs of rising inflation and wage...

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Metro Vancouver* saw modest home listing changes and steady demand in November.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.


Last month’s sales were 17 per cent above the 10-year November sales average.


“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome...

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Time to get ready for a return of the popularity of the five-year mortgage? Twenty years ago, in the mid-1990s —conventional wisdom still held where most home buyers and mortgage holders opted for five-year-closed mortgages, as a hedge against the ominous threat of rising interest rates. The security of locking in a constant, predictable mortgage payment for the long term was more valued than hunting for the lowest possible variable rate mortgage. 

© Used with permission of / © Rogers Media Inc. 2017. The Bank of Canada says to expect higher interest rates...

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About five decades ago, Vancouverites lived almost entirely in single-family homes and rental buildings. The majority of the rental was purpose built, a lot of it in West End towers, with midrise rentals scattered throughout other parts of the city.

Some co-op housing had been built. But condos didn't exist.

"If you wanted to build a higher density, you had to build rental," University of Toronto professor David Hulchanski says.

Condo ownership was introduced in the late 1960s but took several years to catch on. In terms of development, condos – commonly referred to as 'strata housing' in...
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The BCREA Commercial Leading Indicator (CLI) increased for the ninth consecutive quarter, rising  2 points in the third quarter of 2017 to 135.3. That increase represents a 1.7 per cent rise over the second quarter and a 7.3 per cent increase from one year ago.

The sustained rise in the CLI has been driven by several years of strong growth in the BC economy, particularly in sectors beneficial to commercial real estate activity. While we expect that the almost unprecedented cycle of abovetrend growth in the BC economy will end next year, the overall economic environment remains very supportive...

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The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today. 

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10.4 per cent to 91,700 units in 2018, after an expected 8.8 per cent decrease this year. A record 112,209 unit sales were recorded in 2016. The ten-year average for MLS® residential sales in BC is 84,700 units. Strong economic and demographic fundamentals are supporting elevated housing demand. However, a number of factors are expected to temper home sales in the province next year....

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Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

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

Novo I by Intergulf

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

Novo II by Intergulf

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

Aurora by Polygon

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

One University by Millennium

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

Harmony by Polygon

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

Serenity Townhomes by Polygon

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

The Hub by Liberty Homes

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

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

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

Nest by Mosaic

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

Highland House by Liberty Homes

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

Lift by Porte Development

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

Altitude by Hungerford Group

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

CentreBlock by Liberty Homes

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

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