Since 2008, Hafez Panju has contributed a percentage of his sales commission to the BC Branch bringing his total contribution to over $12,000. Together, with dedicated supporters like Hafez, The Kidney Foundation is able to support all British Columbians living with kidney disease whether on dialysis, posttransplant or pre‐dialysis.

Moving into 2015, The Kidney Foundation will focus energies on kidney transplantation and organ donation. Why? Because we know that until there is a cure, a kidney transplant remains the best available therapy for someone on dialysis.

That’s...

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada.

Inflation has remained close to the 2 per cent target in recent quarters. Core inflation has been temporarily boosted by sector-specific factors and the pass-through effects of the lower Canadian dollar, which are offsetting disinflationary...

In a surprise move, the Bank of Canada announced on January 21st, 2015 that it was lowering its trend-setting overnight lending rate from 1 per cent to 0.75 per cent. This marks the first change to the Bank’s key interest rate in more than four years.

The decision to cut rates was the result of the recent sharp drop in the price for oil, which the Bank said “will be negative for [economic] growth and underlying inflation in Canada.”The Bank’s new Canadian economic forecast assumes that oil prices will average around US$60 per barrel, which means the...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was down on a month-over-month basis in December 2014.

Highlights:
National home sales fell 5.8% from November to December.
Actual (not seasonally adjusted) activity stood 7.9% above December 2013 levels.
The number of newly listed homes rose 1.1% from November to December.
The Canadian housing market remains balanced.
The MLS® Home Price Index (HPI) rose 5.4% year-over-year in December.
The national average sale price rose 3.8% on a year-over-year basis in December.

The number...

The British Columbia Real Estate Association (BCREA) reports that a total of 84,049 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2014, up 15.2 per cent from 2013. After lagging for several years, BC home sales eclipsed the ten-year average of 82,000 units and the 15-year average of 83,600 units. Total sales dollar volume was $47.8 billion, an increase of 21.9 per cent from 2013. The average MLS® residential price in the province rose to $568,405, up 5.8 per cent from the previous year.

“BC experienced a significant increase in housing demand...

The trend measure of housing starts in Canada was 192,047 units in December compared to 194,807 in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“The modest decline in the trend in December reflected lower levels of both multiple and single-detached starts,” said Bob Dugan, CMHC’s Chief Economist. “Overall, activity in 2014 continued to be supported by employment growth and migration with starts...

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 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in 2012.

The number of residential properties listed for sale on...

In the privately initiated purpose-built rental market, the average rental apartment vacancy rate in Canada’s 35 larger centres¹ increased slightly, to 2.8 per cent in October 2014, from 2.7 per cent in October 2013, according to the fall Rental Market Survey² released today by Canada Mortgage and Housing Corporation (CMHC).

“Between October 2013 and October 2014, the supply of purpose built rental housing units rose by 2.7 per cent. Overall, this increase in supply outpaced the rise in occupied units, slightly pushing up the national vacancy rate,” said Bob...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was unchanged on a monthover- month basis in November 2014.

Highlights:
National home sales were unchanged from October to November.
Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels.
The number of newly listed homes edged down 0.4% from October to November.
The Canadian housing market remains balanced.
The MLS® Home Price Index (HPI) rose 5.2% year-over-year in November.
The national average sale price rose 5.7% on a year-over-year basis in November....

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2014 and 2015.

With mortgage rates remaining at historic lows since the summer, activity has remained stronger for longer than previously expected and has yet to show clear signs of fading.

As a result, the forecast for annual sales in 2014 and 2015 has been upwardly revised. Almost all of the upward revision to national activity in both years stems from the current strength...

The British Columbia Real Estate Association (BCREA) reports that a total of 5,972 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 8.8 per cent from November 2013. Total sales dollar volume was $3.4
billion, an increase of 12.1 per cent compared to a year ago. The average MLS®residential price in the province rose to $574,694, up 3.1 per cent from the same month last year.

“BC home sales were robust in November,” said Cameron Muir, BCREA Chief Economist. “Improving economic conditions, strong consumer...

The trend measure of housing starts in Canada was 195,792 units in November compared to 195,796 in October, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“The trend essentially held steady for a third consecutive month in November,” said Bob Dugan, CMHC’s Chief Economist. “This is in line with our expectations for 2014, of a stable national picture with new home building concentrated in multiple starts, ...

The Bank of Canada announced on December 3^rd, 2014 that it was holding its trend-setting overnight lending rate at 1 per cent.

Economic conditions around the world have changed rapidly in recent months. The Bank’s December 3^rd announcement took a decidedly “on the one hand, on the other hand” approach in addressing how recent developments have altered not only the outlook for inflation and the economy, but also the risks to that outlook.

While it considers the potential upside and downside risks to be balanced, the Bank sees them as having intensified.

1. Risks to the Canadian economy:...

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Inflation has risen by more than expected. The increase in inflation over the past year is largely due to the temporary effects of a lower Canadian dollar and some sector-specific factors, notably telecommunications and meat prices. Underlying inflation has edged up but remains below 2 per cent.

The U.S. economy has clearly strengthened, particularly business investment, which has benefitted Canada’s...

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

“It’s...

The British Columbia Real Estate Association (BCREA) released its 2014 Fourth Quarter Housing Forecast today.

“Consumer demand has ratcheted up this year and is expected to remain at a more elevated level through 2015,” said Cameron Muir, BCREA Chief Economist. “While historically low mortgage rates support demand, the housing market is also being underpinned by a more robust economy and associated job growth, strong net migration and consumer confidence.”

BC Multiple Listing Service® (MLS®) residential sales are forecast...

The British Columbia Real Estate Association (BCREA) reports that a total of 7,648 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, up 14.6 per cent from October 2013. Total sales dollar volume was $4.4 billion, an increase of 22 per cent compared to a year ago. The average MLS® residential price in the province rose to $575,504, up 7.1 per cent from the same month last year.

“Consumer demand for housing continues at an elevated level,” said Cameron Muir, BCREA Chief Economist. “There were more...

The Bank of Canada is keeping a close eye on the risks posed by new forms of electronic money, given that the Bank’s job is to issue currency, promote financial stability and oversee Canada’s payment systems, Senior Deputy Governor Carolyn Wilkins said today in Waterloo, Ontario.

E-money is electronically-stored value that is not linked to a bank account. The Senior Deputy Governor talked about two types of e-money: the first is denominated in a national currency and is a claim on the issuer, such as PayPal balances or stored-value cards; the second is cryptocurrency such as Bitcoin,...

The trend measure of housing starts in Canada was 195,707 units in October compared to 197,763 in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)¹ of housing starts.

“The decrease in the trend reflects a decline, in October, of starts of multi-unit dwellings, including condominiums,” said Bob Dugan, CMHC’s Chief Economist. “Given the elevated level of condominium units under construction, our expectation is that condominium starts will continue to trend lower...