Potential Chinese property buyers dramatically shifted their inquiries from Vancouver to other major Canadian cities after a foreign-buyer tax was introduced in Vancouver this past summer, according to data from Chinese foreign-property portal Juwai.com.

Inquiries for Vancouver properties on Juwai – China’s largest international-property website – fell 81 per cent in July compared to the same month a year earlier, and 78 per cent in August, and continued lower through the remaining months in 2016.

At the same time, inquiries spiked in other Canadian cities, with Toronto climbing...

The group that represents mortgage brokers across Canada was in Ottawa on Tuesday to urge parliamentarians to tinker with their recent rule changes, and hit the brakes on any new ones.

Mortgage Professionals Canada, who represents more than 11,000 mortgage brokers, urged lawmakers to rethink rule changes introduced last October aimed at reining in consumers who may be taking on too much debt to buy a home. Among the major changes was the implementation of a "stress test" whereby borrowers would be judged on their ability to pay their mortgage assuming that rates were much higher than they are right...

Mountain Views

Spacious 1 Bed & Den

Priced at $339,800

Open: March 4 from 1 to 3

University, a city within a city. Enjoy the peace & tranquility this area has to offer. This 1 bed & den 669 sqft unit will not disappoint. Features: open layout, granite counters throughout, stainless steel appliances, laminate floors, front load washer & dryer, large covered balcony, & excellent sized den. Located in Novo II, this building offers recreation facilities & allows for rentals & pets. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only...

What a view! Perfect for the students, singles or investors alike. This bright 376sqft studio is in excellent condition & shows well. Features: over height ceilings, granite counters, updated appliances, in-suite laundry, 1 parking & beautiful City and open Sky views. Located in Novo I a concrete building with exercise room and pet and rental friendly. Move-in or generate excellent cash flow from high rental demand. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Do not miss your chance to enjoy living in this great lifestyle...

The Bank of Canada announced on March 1^st, 2017 it was keeping its trend-setting target overnight lending rate at 0.5 percent.

It said recent data confirm that the Canadian economy is on track for better growth, as predicted in its January Monetary Policy Report (MPR).

The Canadian economy is forecast to grow by 2.1% in 2017 and 2018, helped along in 2017 by Government spending. The Bank also anticipates, as it has for some time, that exports and business investment will gain better traction in 2018.

However, that outlook would be severely downgraded should U.S. trade policy become more...

Home sales across Metro Vancouver were down dramatically last month compared with last year's record-breaking pace, while prices across the region remained more stable.

The Greater Vancouver Real Estate Board says a limited supply of listings and an unusually snowy start to the year affected the market.

It says residential sales totalled 2,425 in February, an almost 42-per-cent plunge from February 2016.

But sales in February were up about 59 per cent from January.

The board says the number of properties that changed hands was 7.7 per cent below the 10-year sales average for February.

The board says...

Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.

Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9 per cent decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2 per cent compared to January 2017 when 1,523 homes sold.

Last month’s sales were 7.7 per cent below the 10-year February sales average.

“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,...

The BCREA Commercial Leading Indicator (CLI) increased for the fourth consecutive quarter, rising 1.5 index points from the third to fourth quarter. The index now sits at 123.9, a 5 per cent increase from a year ago, and about a 1.2 per cent gain on a quarterly basis. 

“The CLI was propelled higher by strong fourth quarter growth in the BC economy,” says BCREA Economist Brendon Ogmundson. “The strength of the underlying BC economy, particularly relative to the rest of Canada, makes BC a very attractive destination for commercial investment.” 

Five straight quarters...

What a view! Perfect for the students, singles or investors alike. This bright 376sqft studio is in excellent condition & shows well. Features: over height ceilings, granite counters, updated appliances, in-suite laundry, 1 parking & beautiful City and open Sky views. Located in Novo I a concrete building with exercise room and pet and rental friendly. Move-in or generate excellent cash flow from high rental demand. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Do not miss your chance to enjoy living in this...

Mountain Views

Spacious 1 Bed & Den

Priced at $339,800

University, a city within a city. Enjoy the peace & tranquility this area has to offer. This 1 bed & den 669 sqft unit will not disappoint. Features: open layout, granite counters throughout, stainless steel appliances, laminate floors, front load washer & dryer, large covered balcony, & excellent sized den. Located in Novo II, this building offers recreation facilities & allows for rentals & pets. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences....

On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, takes effect today.

BCREA appreciates this government’s attention to the needs of first-time homebuyers. To keep pace with the dynamic real estate market and ensure that homebuyers aren’t left behind, the Association strongly believes that this threshold—and all others related to the...

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

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 14.1 per cent to 96,345 units this year, after reaching a record 112,209 units in 2016. A moderation trend that began early in 2016, combined with tougher federal government mortgage qualification rules and the foreign buyer tax in Vancouver, is expected to limit consumer demand over the next two years. However, housing demand is expected to remain well above the tenyear average...

The British Columbia Real Estate Association (BCREA) reports that a total of 4,487 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, down 23 per cent from the same period last year. Total sales dollar volume was $2.79 billion, down 36.5 per cent from January 2016. The average MLS® residential price in the province was $621,093, a 17.5 per cent decrease from the same period last year. 

“Housing demand across the province returned to long-term average levels last month,” said Cameron Muir, BCREA Chief Economist. “However, regional...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were down slightly in January 2017 on a month-over-month basis.

Highlights:

• National home sales declined 1.3% from December 2016 to January 2017.
• Actual (not seasonally adjusted) activity in January was up 1.9% from a year earlier.
• The number of newly listed homes dropped 6.7% from December 2016 to January 2017.
• The MLS^® Home Price Index (HPI) in January was up 15.0% year-over-year (y-o-y).
• The national average sale price was little changed (+0.2%) y-o-y in January.

Home sales over...

The trend measure of housing starts in Canada was 199,834 units in January compared to 197,881 in December, 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.

“New home construction started off strong in 2017, both in terms of single-detached homes and multi-unit residential,” said Bob Dugan, CMHC Chief Economist. “While Ontario starts continue to drive the national trend upwards, construction has slowed in BC since last July when it reached a near record...

Spacious and Open Layout

3 Bedroom Concrete Home

Open House Feb 4 1:00 to 3:00

Priced at $538,800

Open Sky views, bright, spacious & extremely clean! This 3bed/2bath/1168sqft luxury concrete home, located in OneUniversity offers an excellent layout, fresh paint & shows well. You won't be disappointed. Features: East/West exposure from two large covered balconies, 9’ ceilings, open kitchen w/SS apps, bar fridge, quartz counters & breakfast bar & a cozy fireplace. The large master has his/her walk-through closet, 5pc ensuite w/soaker & separate shower. The 2nd & 3rd rooms...

Home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market.

Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold. Last month’s sales were 10.3 per cent below our 10-year January sales average.

“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” Dan Morrison, Real Estate...

Spacious and Open Layout

3 Bedroom Concrete Home

Open House Feb 4 1:00 to 3:00

Priced at $538,800

Open Sky views, bright, spacious & extremely clean! This 3bed/2bath/1168sqft luxury concrete home, located in OneUniversity offers an excellent layout, fresh paint & shows well. You won't be disappointed. Features: East/West exposure from two large covered balconies, 9’ ceilings, open kitchen w/SS apps, bar fridge, quartz counters & breakfast bar & a cozy fireplace. The large master has his/her walk-through closet, 5pc ensuite w/soaker & separate shower. The 2nd & 3rd rooms...

Search “Canadian Housing Market Bubble” on the internet. Just do it.

Despite warnings from banks worldwide and within Canada, reports from economic think tanks, a slew of data, and unbiased analysis, I still come across articles written largely by Canadian institutions or investors with a vested interest in not only maintaining but growing the Canadian housing bubble. Whether it is a real estate association or a group of investors with long positions in risky real estate stocks, some people just don’t want to see what is right in front of them. What’s worse, these same...

Canada Mortgage and Housing Corporation (CMHC) is reporting strong overall evidence of problematic housing market conditions nationally for the second consecutive quarter due to overvaluation and price acceleration in Canada’s housing markets. This assessment largely accounts for market conditions in Vancouver and Toronto where strong price growth has been spreading to neighbouring centres such as Hamilton and Victoria.

Canada saw house prices grow by 7 per cent year-over-year at the end of the third quarter of 2016 after adjusting for inflation. However, removing Ontario from the...