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Metro Vancouver Real Estate Report October 2019

November 7th, 2019

8,481 vacant, exempt or undeclared homes in Vancouver

March 7th, 2018
 

Sales slow in February

March 7th, 2018

Sales

Residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.

Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attach ...

Condos, townhomes in high demand in Metro Vancouver, real estate board says

February 5th, 2018

1,818 homes were sold in January — up 19.4 per cent from the same time last year.

The Real Estate Board of Greater Vancouver says demand continues to be high for condominiums and townhomes in the region, but less so for detached properties.

The board says 1,818 homes sold in January — up 19.4 per cent from the same time last year, but down 9.8 per cent from December 2017.

However, townhous ...

Douglas Todd: B.C. mayors start targeting speculators to cool housing prices

February 2nd, 2018

The province’s mayors and councillors brought a sharp new focus Thursday to finding effective ways to cool intense foreign and domestic speculation in housing.

The Union of B.C. Municipalities announced 32 recommendations designed to fix the home ownership and rental crises that have devastated many residents of Metro Vancouver.

“B.C.’s housing policies are no longer working,” said Port Coq ...

Andrew Weaver urges government to bring in taxes for real estate speculators and flippers

February 1st, 2018

B.C. Green Party Leader Andrew Weaver released a policy statement Wednesday urging the government to implement both a real estate flipping and speculators tax in next month's provincial budget.

Weaver outlined his party's wish list for improving housing affordability in the province at a news conference in Vancouver.

"Despite significant evidence of the role of speculation in driving up pri ...

Canadian real estate prices see biggest drop worldwide

February 1st, 2018

Canada’s housing market was the fastest rising in the world, just a few months ago. Now we’re claiming the opposite title

Canadian real estate prices were the fastest rising in the world, just a few months ago. Now we’re claiming the opposite title, as the market explores where prices should be. Newly released Federal Reserve Bank of Dallas (the Dallas Fed) numbers, show a decline in home pr ...

Canada’s Debt Binge Has Macquarie Sounding Alarm on Rate Hikes

January 18th, 2018

The unprecedented rise in consumer debt means the Bank of Canada’s rate-hiking cycle is already the most severe in 20 years and further increases will have far graver consequences than conventional analysis shows, Macquarie Capital Markets Canada Ltd. said.

Assuming just one further rate rise, the impact would be 65 percent to 80 percent as severe as the 1987 to 1990 cycle, according to Macq ...

January 2018 Mortgage Rates

January 18th, 2018

The fixed mortgage rates have increased with most lenders this week. The average 5 year fixed on a conventional mortgage is now at 3.49%. The
average 5 year fixed on a high-ratio mortgage is 3.19%.

The new prime lending rate at most institutions is now 3.45% (up from 3.20%). If you have a VRM (variable rate mortgage), HELOC (home equity line of credit) or personal loans based on the prime le ...

Housing market to hit slow patch on back of interest rate hike, new mortgage rules

January 17th, 2018

The Bank of Canada will make its first interest rate announcement of the year on Wednesday. Many observers predict will boost the country’s benchmark rate by 25 points to 1.25 per cent after the economy’s strong performance last year and a particularly strong jobs report from November. If the economy keeps pace, they believe that rate may be bumped up a few more times over 2018.

The suspecte ...

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