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

CentreBlock, named after its location in the heart of the UniverCity shopping district across from Nester grocery store, will span an entire block.  The complex is comprised of two structures; a 6 story mid-rise building comprised of mixed use commercial and residential which will be connected to a 16 story hi-res residential building and a 3 story wood frame building consisting of 26 townhomes.  Ideally located close to shopping, Highlands Elementary School,...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its fifth consecutive month-over-month decline in January 2014.

Highlights:
National home sales fell 3.3% from December to January. Actual (not seasonally adjusted) activity stood 0.4% above January 2013 levels. The number of newly listed homes edged up 0.2% from December to January.
The Canadian housing market remains in balanced territory. The national average sale price rose 9.5% on a year-over-year basis in January. The MLS® Home Price Index...

Housing starts in Canada were trending at 191,456 units in January compared to 194,518 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)¹ of housing starts.

“The trend in housing starts decreased slightly in January, while the inventory of newly completed and unabsorbed units saw a modest downward trend in the last half of 2013. This is consistent with our expectation that builders will continue to gradually adjust activity in order to manage their levels of inventory,”...

Montréal, Quebec—The Bank of Canada’s flexible inflation target has served Canada well in both tranquil and turbulent times and remains the right policy framework to address the current economic environment of persistently weak inflation, Senior Deputy Governor Tiff Macklem said today in a lecture at Concordia University’s John Molson School of Business in Montréal.
“Inflation targeting was designed against a backdrop of high inflation, but its key features of symmetry and flexibility also give us room to manoeuvre in an environment of disinflation.”
Mr....

Canada Mortgage and Housing Corporation (CMHC) expects the number of housing starts to stabilize in 2014 and 2015. Support from improved economic and demographic fundamentals will be tempered by a combination of a modest and gradual increase in mortgage rates and a slowdown in demand from first-time buyers, according to CMHC’s first quarter 2014 Housing Market Outlook, Canada Edition¹.

“With a relatively high number of units currently under construction, we expect builders will gradually adjust their activity in order to reduce their level of inventory,” said Mathieu...

The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent decline compared to the 1,953 sales in December 2013.

Last month’s sales were 7.2 per cent above the 10-year sales average for the month.

“The...

2014 is the 50^th anniversary of the establishment of our Foundation in 1964.  Year after year, BC Branch members, volunteers and supporters, like Hafez Panju, have helped the foundation  invest more than $100 million in life-saving kidney research across Canada.  Last year British Columbians donated over $860,000 to support promising kidney research as determined by a panel of Canada’s top kidney researchers.  Without the dedicated and committed support from generous donors like Hafez none of this would be possible. 

A few years ago, the BC Branch made a commitment...

Happy New Year!  I wish you and your families a healthy and prosperous 2014. 

Another year has come and gone and what a year it is has been.  There was significant media attention given to the real estate market in the Lower Mainland.  It felt like not a day went by that some news outlet was reporting something about real estate.  And it was not just about homes prices. 

We have and continue to be told that Canadian household debt levels are at stratosphere highs and the government is concerned.  New reports are suggesting that Canadians are deciding to save more...

The Bank of Canada announced on January 22^nd 2014 that it was keeping its trend-setting overnight lending rate at 1 per cent, where it has been held since September 2010.

Since the Bank’s last announcement in early December, inflation in Canada has moved even further below the Bank’s 2 per cent target. Moreover, the Bank indicated it is now expected to remain lower for even longer and not return to target for “about two years.”

The rising risk of lower inflation has been a theme since last fall. Since then, the Bank’s warnings about how rates will eventually rise have...

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 in Canada has moved further below the 2 per cent target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. The path for inflation is now expected to be lower than previously anticipated for most of the projection period. The Bank expects inflation to return to the 2 per cent target in about two years, as the effects of retail competition dissipate...

Bright and Spacious

Show Suite Condition

3 Bed, 2 Bath, 1,196 SqFt

Prices at $418,800

214 9339 University

Burnaby, BC

Harmony at the Highlands

Simon Fraser University, UniverCity

Bright, spacious & open layout are just a few ways to describe this home. This 1196sqft/3bed/2bath, corner unit is one of the larger plans in the Harmony complex. Your wait is over. Features: open living & dining rms, engineered floors,fresh paint, excellent room separation, spacious kitchen with eating area, SS apps & access to covered balcony. The large master has ensuite w/soaker tub & walk-in...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013.

Highlights:

• National home sales fell 1.8% from November to December.
• Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels.
• The number of newly listed homes dropped 4.3% from November to December.
• The Canadian housing market remains in balanced territory.
• The national average sale price rose 10.4% on a year-over-year basis in December.
• The MLS® Home Price Index (HPI) rose 4.3%...

The British Columbia Real Estate Association (BCREA) reports that a total of 72,936 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during 2013, up 7.8 per cent from 2012. The five-year average is 75,400 units, while the ten-year average is 84,800 units. Total sales dollar volume was $39.2 billion, an increase of 12.6 per cent compared to 2012. The average annual MLS® residential price in the province rose to $537,414 last year, up 4.4 per cent from 2012.

“After declining nearly 12 per cent in 2012, home sales...

Housing starts in Canada were trending at 195,760 units in December compared to 196,430 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 trend in housing starts has remained essentially stable since October 2013. Housing demand continues to be healthy in Canada. The trend in existing home sales has been increasing since April 2013, while the trend in inventories of newly completed and unabsorbed homes has...

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant,...

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 in 2013 and 2014.

Stronger than expected activity through summer and early autumn was widely thought to reflect the transient influence of buyers with pre-approved mortgage financing making purchases before their lower pre-approved rates expired. A drop-off in sales during the fourth quarter to date further suggests this was indeed the case.

Although monthly sales volatility has increased in recent years,...

TheBritish Columbia Real Estate Association (BCREA) reports that a total of 5,490 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during November, up 17.3 per cent from November 2012. Total sales dollar volume was 36 per cent higher than a year ago at $3.06 billion. The average MLS® residential price in the province was $557,586, up 15.9 per cent from November 2012.

"While home sales were up year-over-year, they eased back from October as slow economic growth and anemic job creation negatively impacted consumer demand,” said Cameron Muir, BCREA Chief...

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were little changed in November compared to October. 

Highlights:

• National home sales edged 0.1% lower from October to November.
• Actual (not seasonally adjusted) activity was 5.9% above November 2012 levels.
• The number of newly listed homes rose 1.8% from October to November.
• The Canadian housing market remains in balanced territory.
• The national average sale price rose 9.8% on a year-over-year basis in November.
• The MLS® Home Price Index (HPI) rose 4.1% year-over-year in November....

Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October 2013.

Last month’s sales were 1.2 per cent below the 10-year sales average for the month, while...