News & Tips

HOUSING SALES DIP WHILE PRICES RISE “Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market … Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market […]

STRONG DEMAND FOR CONDOS & TOWNHOMES Townhomes and condos are in demand across Metro Vancouver … while detached home buyers are facing less competition today. Detached home sales last month were up 9.7% from January 2017. The benchmark price for detached properties is $1,601,500. This represents an 8.3% increase from a year ago January 2017. […]

2017 Vancouver Housing Market: Steady Sales and Prices Hikes The benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300, up 16% compared to December 2016. “Market activity differed considerably this year based on property type … Competition was intense in the condominium and townhome markets, with multiple offer situations becoming […]

Provincial Government Increases Homeowner Grant Threshold BC Assessment values have increased, but the vast majority of homeowners in the province will still be eligible for the 2018 homeowner grant this year, as the provincial government has raised the threshold for the grant to $1.65 million, up from $1.2 million last year in 2016. Any property owner with a home valued […]

Steady Demand Continues for Townhomes & Condos Overall housing sales are up 26% compared to a year ago November 2016. Detached home prices rose 6.1% from this time last year, reaching $1,608,000. Condo prices jumped 24% compared to November 2016, reaching a benchmark price of $648,200. Townhome prices increased 18% compared to November 2016, to a […]

ABOVE AVERAGE SALES AS BUYERS SNAP UP PROPERTIES AHEAD OF NEW MORTGAGE REQUIREMENTS IN JANUARY   October homes sales in Metro Vancouver were 15% above the 10-year October sales average.   “The federal government’s announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the […]

Bank of Canada Interest Rate Announcement – October 25, 2017 – BCREA News Release   The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 1 per cent. In the press release accompanying the decision, the Bank noted that inflation has edged up slightly and is expected […]

It’s about to become more difficult to qualify for a mortgage, but there is still a window of opportunity before the new mortgage rules take effect in January. Canada’s banking regulator has modified its controversial new mortgage stress-testing rule. The Office of the Superintendent of Financial Institutions published revised final guidelines for its mortgage qualification […]

Condos Favour Sellers, Detached Homes Edge Towards Buyers Vancouver condos and townhomes are firmly in a sellers’ market, while supply vs demand of detached homes is edging toward a buyers’ market, according to new figures from the Real Estate Board of Greater Vancouver. “Detached homes made up 30% of all sales in September and represented […]

 First-time Home Buyers Driving Competition for Condos & Townhomes “First time homebuyers have led a surge this summer in demand in our condominium and townhome markets,” said REBGV president … “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers”. Condos and townhouses remain a Sellers market. Benchmark apartment prices […]