June 23, 2015
Just Listed: Penthouse Home in Harmony, SFU, UniverCity
Top Floor Unit
12’ Ceilings & Storage Locker
Priced at $340,000
Open Sunday June 28 from 2 to 4
Enjoy bright, south eastern exposure from this penthouse home located in Harmony At The Highlands found at UniverCity; Vancouver's premier lifestyle neighborhood! Features: soaring 12’ ceilings, open plan, stainless appliances & breakfast bar, plenty of storage space & cozy gas F/P. Excellent sized master w/nook space, ensuite with soaker & walk-in closet, well sized 2nd bed & 3pc main bath complete this home. Harmony is a rental and pet friendly complex with gym facilities....
June 18, 2015
Land sales drive commercial real estate activity in the first quarter
An increase in raw land sales helped boost commercial real estate totals across the Lower Mainland in the first quarter of 2015, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).
The total dollar value of commercial sales in the region reached $1.5 billion in the first quarter (Q1) of 2015, a 7.6 per cent increase from Q1 2014.
There were 505 commercial real estate sales in the Lower Mainland in Q1 2015, according to Commercial Edge. This is an 8.6 per cent increase compared to the 465...
June 17, 2015
Vacancy Rate in Seniors’ Residences Reaches 8.1 Per Cent
The vacancy rate for seniors’ residences decreased over the past year, reaching 8.1 per cent in 2015, compared to 8.7 per cent in 2014, according to the Seniors’ Housing Report – Canada Highlights released by Canada Mortgage and Housing Corporation.
“As was the case in 2014, the increase in the total number of spaces for seniors in 2015 was slightly outpaced by an increase in the total number of residents,” said Bob Dugan, Chief Economist at CMHC. “This led to a decrease in the overall vacancy rate in 2015.”
Our survey makes the distinction between...
June 15, 2015
Canada’s National Rental Vacancy Rate is Stable with Regional Variations
According to the spring Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC), the average vacancy rate for primary purpose-built apartments in Canada’s 35 major centres was 2.9 per cent in April 2015, compared to 2.7 per cent in April 2014. This difference is not statistically significant, indicating stability in the overall vacancy rate.
“The stability of the national vacancy rate is due to offsetting regional trends that reflect the negative impact of lower oil prices on rental demand leading to higher vacancy rates...
June 15, 2015
Canadian home sales strengthen further in May
- National home sales rose 3.1% from April to May.
- Actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
- The number of newly listed homes was little changed from April to May.
- The Canadian housing market remains balanced overall.
- The MLS® Home Price Index (HPI) rose 5.17% year-over-year in May.
- The national average sale price rose 8.1% on a year-over-year basis in May; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 3.1...
June 15, 2015
BC Home Sales Continue at Brisk Pace
The British Columbia Real Estate Association (BCREA) reports that a total of 10,174 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 16.6 per cent from the same month last year. Total sales dollar volume was $6.4 billion, a 30.4 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $632,182, an 11.8 per cent increase since last May.
“Home sales for the month were at an eight year high for the month of May,” said Cameron Muir, BCREA Chief Economist....
June 11, 2015
Bank of Canada says risk to financial stability is slightly higher, but system is more resilient
The overall risk to financial stability in Canada has risen in the face of lower oil prices, but the resilience of the system continues to improve, the Bank of Canada said today as it released its biannual Financial System Review (FSR).
The FSR is intended to raise awareness of the key vulnerabilities, possible triggers and risks to the financial system. The Bank’s assessment is that there is a low probability that the risks identified in the FSR will materialize. Policies and regulations are in place to promote the strength and soundness of the Canadian financial system.
June 8, 2015
May 2015 Housing Starts in Canada
The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“The small increase in the trend was primarily driven by higher multiple starts in Ontario, the Atlantic region, and Québec. Despite month-to-month variation in multiple starts, CMHC expects builders will continue to focus on managing inventory of completed but unsold units — inventory that is still above...
June 2, 2015
Metro Vancouver home sales surpass 4,000 for third consecutive month
It continues to be a competitive spring market for Metro Vancouver home buyers. This competition continues to put upward pressure on home prices, particularly in the detached home market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,056 on the Multiple Listing Service® (MLS®) in May 2015. This represents a 23.4 per cent increase compared to the 3,286 sales recorded in May 2014, and a decrease of 2.9 per cent compared to the 4,179 sales in April 2015.
Last month’s sales were 16.7 per...
June 1, 2015
BC Housing Demand Forecast to be Strongest Since 2007
The British Columbia Real Estate Association (BCREA) released its 2015 Second Quarter Housing Forecast today.
“More robust economic growth, strong consumer confidence and rock-bottom mortgage interest rates are expected to push housing demand this year to its highest level since 2007,” said Cameron Muir, BCREA Chief Economist.
Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 12.1 per cent to 94,300 units this year, before edging back 2.9 per cent to 91,600 units in 2015. The ten-year average is...