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Here’s the rising number of condo projects expected to flood Greater Vancouver’s market in 2019
The expected launches for this year encompass a total of 13,975 homes, compared to the 11,584 pre-sale units introduced to the market in 2018.
Multi-family rental market booms as demand chases short supply
Close to $3 billion worth of purpose-built rental properties changed hands in Greater Vancouver last year, according to the numbers crunched by the Goodman team at HQ Commercial .
Vancouver condo prices negate half a year's worth of gains
The precipitous cooldown of the Vancouver housing market is especially apparent when one considers that the benchmark condo price in the region fell by 6.4% in the 6-month period ending December, reaching $664,100. This also represented a 0.6% annual decline, …
Metro Vancouver residential price decline will bottom in 2019, then reverse: forecasters
Speaking at the Urban Development Institute 's annual Forecast Luncheon on January 17, Neil Chrystal , president and CEO of Polygon Homes , said, "This year, the single-family home market will remain slow, and experience further price corrections…. In o…
More condo project cancellations may be on the way in Vancouver this year, developer warns
The president and CEO of a major developer is warning homebuyers that more proposed condo projects may be cancelled as inexperienced builders struggle in a cooler market that is still finding bottom. "Last year, we also saw a few smaller projects get into trou…
Vacancy Tax explanation from city of Vancouver
Each year, every owner of residential property will have to make a property status declaration. This will determine if the property is subject to the Empty Homes Tax, also known as the Vacancy Tax.
In Canada's housing slowdown, Vancouver proves to be the weakest link
While the country's two most expensive real estate markets have both been hit hard by higher interest rates and tougher mortgage regulations, the data suggest Toronto is faring better and showing signs of stabilizing, while Vancouver continues its slide.…
Transactions hit 18-year low in Vancouver
According to December sales statistics released by the Canadian Real Estate Association, home prices fell 2.7% in Greater Vancouver last month, but still averaged a whopping $1,032,400.
High cost of housing sparks exodus from Vancouver
Statistics show that Vancouver, and B.C. generally, is losing skilled workers to other parts of the country. CMHC spokesman Leonard Catling said one of the main reasons people between the ages of 21 and 25 come to Metro Vancouver is for university but they mov…
Vancouver office market's strength at a record high
In its analysis, commercial agency Devencore stated that vacancy rates for office space in the downtown area fell to 4.5% at the beginning of the year, from 5% a year ago. Demand for Class A space was even stronger, with vacancy rates at 3.9% and average gross…
The waning of Vancouver and the waxing of Toronto
Last year proved to be less than stellar for Vancouver as it experienced a "remarkably constrained" supply of new homes. This trend will most likely last well into 2019, as the market is "exhibiting the most potential for downside risk," Altus stated.…
Chilliwack brews up a strong economy on Metro Vancouver's edge
Chilliwack is 102 kilometres east of Vancouver but light years away when it comes to affordable housing, a fact that is enticing major employers and new residents to one of B.C.'s fastest-growing regions. The average price of a Chilliwack home is less than $48…
“Affordable” rents demand taxpayers reach deep in Metro Vancouver
A new joint venture will see taxpayers ante $40.2 million for a private development to create an East Vancouver rental project where subsidized one-bedrooms will rent for $1,500 and two-bed-rooms for $1,950 when it completes this year. The subsidy works out to…
Vancouver home sales fall to lowest point since 2000
The total number of homes sold in Metro Vancouver last year fell to 24,619, marking the lowest total since 2000, according to data from the Real Estate Board of Greater Vancouver. That's down 31.6% from nearly 36,000 in 2017 and 25% below the region's 10-year …
Vancouver home sales fall to lowest yearly total in 18 years, detached home prices drop
Sales of the region's condos, townhouse, and detached homes were down more than 30 per cent in 2018.
Metro Vancouver home sales decline below historical averages in 2018
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 24,619 on the Multiple Listing Service® (MLS®) in 2018, a 31.6 per cent decrease from the 35,993 sales recorded in 2017, and a …
B.C.’s five most expensive neighbourhoods
A look at the most expensive homes in Vancouver neighbourhoods using the B.C. Assessment Authority's top 500 list
Some Metro homes see decline in assessed value
The slowdown in Metro Vancouver real estate sales took a strip out of detached-home values in the city of Vancouver — particularly at the highest end — while values in the city's suburbs and other parts of the province continued rising, according t…
British Columbia’s most expensive homes took a value hit in 2018
The BC Assessment numbers are out for 2019 and the most expensive Vancouver homes from a year ago have all lost assessed value.
Vancouver Home Prices Fall Most Since 2008, Extending Declines
After rebounding to a record in May, prices nationwide have dropped for six straight months, the Canadian Real Estate Association (CREA) reported Monday, and are hovering at levels little changed from mid-2017, when interest rates started to rise.…
Crash? Recovery? 4 Things That Will (And Won’t) Happen In Canada’s Housing Market In 2019
With house prices at astronomical levels in many cities, a growing number of Canada's would-be homebuyers are hoping for a market crash. In Vancouver, North America's least affordable housing market, a recent poll showed nearly two-thirds of residents, includi…
Real estate agent barred over sexual messages, offering tenants weed
A former real estate agent in Metro Vancouver has been barred from practice for sending unsolicited, inappropriate messages to a stranger, his neighbour and his boss — and after being accused of offering a bag of weed to renters last year.…
Demand surges for strata office space
Driven primarily by low downtown vacancies and, consequently, surging rents—and compounded by large companies like Amazon, Apple and Deloitte buying hundreds of thousands of square feet of office space—Vancouver has become inhospitable to smaller b…
Vancouver empty homes tax to help homeowners, renters
The City Council and Mayor have approved the proposed budget for 2019 which includes measures to tackle housing supply and affordability challenges in the city.
Commercial Real Estate: 20-per-cent drop in commercial property sales
The frenzy to invest in Lower Mainland commercial property appears to be over, according to recent numbers from the Real Estate Board of Greater Vancouver (REBGV).
Lower Mainland affordability map showing income needed to buy a home
Using August 2018 benchmark prices from the Real Estate Board of Greater Vancouver and Fraser Valley Real Estate Board, and assuming a 20% down payment and heating costs of $100/month, Zoocasa calculated the minimum household income required to buy a detached …
Huawei executive arrest could impact Vancouver real estate prices: Barron's
Barron's explained to its readers that "Vancouver real estate prices have been buoyed by Chinese buyers for 20 years, as it became a favourite destination after Britain handed Hong Kong back to the People's Republic of China in 1997. Chinese buying surged, and…
Condominium market still 'a lot better' than normal in Vancouver suburbs
Street said he realized about six months ago that suburban developers needed to bring back promotions to entice buyers. But while amateur investors are sitting out, professional investors are jumping on board, he said.
No major residential price drops for Metro Vancouver and B.C. next year: forecasts
Any such average price drops are unlikely to make homes more affordable to most buyers, with interest rates rising and the stress test reducing purchasing power. "The drop in sales in key markets across British Columbia can be partially attributed to Canadians…
13 and 4: Real estate's unlucky numbers and what some cities are doing about it
A few years ago, city officials in Vancouver began seeing a rise in special applications by commercial and residential developers asking for permission to skip any floor that contained the number four, in addition to the 13th floor. As the city continued to bu…
Building List Count by City
- Abbotsford - 447
- Agassiz - 28
- Burnaby - 55
- Burnaby East - 78
- Burnaby North - 367
- Burnaby South - 346
- Campbell River - 1
- Chilliwack - 221
- Cloverdale - 194
- Comox Valley - 10
- Coquitlam - 566
- Delta - 10
- Duncan - 41
- Esquimalt - 59
- Gulf Islands - 6
- Harrison Hot Springs - 13
- Harrison Mills - 1
- Hope - 22
- Ladner - 110
- Langford - 156
- Langley - 539
- Maple Ridge - 312
- Mill Bay - 2
- Mission - 65
- New Westminster - 444
- North Delta - 28
- North Island - 2
- North Saanich - 8
- North Surrey - 411
- North Vancouver - 747
- Oak Bay - 44
- Osoyoos - 1
- Parksville / Qualicum - 7
- Penticton - 8
- Pitt Meadows - 75
- Port Alberni - 2
- Port Coquitlam - 268
- Port Moody - 268
- Richmond - 1162
- Saanich East - 232
- Saanich West - 92
- Sardis - 154
- Sidney - 152
- Sooke - 39
- South Surrey White Rock - 714
- Surrey - 667
- Tsawwassen - 98
- Vancouver East - 1000
- Vancouver West - 2488
- Victoria - 665
- View Royal - 46
- West Vancouver - 230
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The listing data is deemed reliable but is not guaranteed accurate by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board, Real Estate Board of Greater Vancouver, nor BCCondos.