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Sharp increase in construction costs in 2021 compared to 2020 | AGCCG
Western Investor · 02 Feb 2022 · Frank O’Brien
The Homebuilders Association of Vancouver (HAVAN) released a report January 31 that estimates that local land values account for 38.1 per cent of the average cost of a new Metro Vancouver detached house, which sells for $1.75 million. Municipal fees and taxes …
High property taxes are putting homeowners under stress
The Vancouver Sun · 02 Feb 2022 · Derrick Penner
he frightening part is the amount, so sort of an ability pay thing by one measure," Sullivan said, which speaks to the "house rich, cash poor" nature of Vancouver housing in particular.
Average price of new condo increased 12.5 percent in 2021 | MLA Canada
Western Investor · 20 Jan 2022 · Frank O’ Brien
"The condo market is very strong now compared to 2018 to 2020 – end unit values have increased substantially which, in turn, increased the land value. For example, East Vancouver wood-frame condo sales range from $1,100 to $1,200 [per square foot] depend…
Hand work pays off to Goran Bucan biggest hit in 2021
REM · 19 Jan 2022 · Connie Adair
"Every day I had to have the patience for the vendors and purchasers even though they had had enough and wanted to call it quits. I had to gather every ounce of strength and patience and not freak out, insert patience into the buyers and sellers and convince e…
How property markets are being reshaped in this state of pandemic
The Vancouver Sun · 04 Jan 2022 · Derrick Penner
Now the question is, 'What's the future for that particular part of the workforce?' " Yan said. "You can see how this has a total cascading effect." And it raises questions about how governments might deal with improving affordability through policy decisions,…
House prices across Canada have jumped 34 percent since pandemic
The Vancouver Sun · 29 Dec 2021 · Douglas Todd
Courtesy of Vancouver real-estate analyst Steve Saretsky Inflation has risen in most Western countries as Ottawa has heightened monetary stimulation (the printing of money) and handed out extremely low interest rates, to head off a slowdown. But our politician…
B.C. home sales began to normalize amidst pandemic
The Vancouver Sun · 29 Dec 2021 · Douglas Todd
The Kamloops and District Real Estate Association and the Association of Interior Realtors recorded a nearly 29 per cent increase in residential prices, while in the Lower Mainland, Chilliwack and the Fraser Valley saw average home prices go up to $697,250 and…
2021 produced record setting annual total in British Columbia
Livabl · 15 Dec 2021 · Ryan Garner
Greater Vancouver continues to have the province's most expensive real estate, with the average home price exceeding $1.24 million, up 14.6 per cent from November 2020, although the price gap between outlying areas is shrinking.