News & Tips

It’s our privilege to be your trusted source of information on Vancouver’s real estate market updates so that you can stay current with the latest tips, trends, and stats. Feel free to contact us anytime with your questions.

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City of Vancouver Considers Legalization of Short-term Rentals

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Vancouver city staff presented a proposed regulatory framework to city council this week that would move the city closer to legalizing short-term rentals, such as those booked through sites like Airbnb and HomeAway. Under the proposed rules, short-term rentals – defined as those shorter than 30 days – would be allowed in the principal residences […]

Bank Of Canada Rate Hike

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Bank of Canada raises overnight rate for first time in seven years Bank of Canada Interest Rate Decision – July 12, 2017 – The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 0.75 per cent. In the press release accompanying the decision, the […]

Housing Market Update July 2017

A high angle view of Vancouver's False Creek and the crowded downtown skyline, Vancouver, B.C., May 4, 2015. Bayne Stanley/CP

Imbalance Between Supply and Demand in the Condo Market Creating Home Buyer Competition Across Metro Vancouver. “Two distinct markets have emerged this summer. The detached home market has seen demand ease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type,” […]

Most & Least Affordable Areas To Purchase a Home

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“While pockets of affordability still exist, they are disappearing as prices in the Fraser Valley and other parts of BC continue to rise.” Chilliwack and Sooke were the top two most affordable areas to purchase a condo apartment. Overall, the least affordable areas to purchase a home were West Vancouver, Lions Bay and North Vancouver; […]

Housing Market Update June 2017

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  “Home buyers are beginning to have more selection to choose from in the detached market, but the number of condominiums for sale continues to decline” – President, Real Estate Board of Greater Vancouver   MAY MARKET ACTIVITY HEATS UP  The benchmark price for a detached home in Greater Vancouver is $1,561,000. This represents a 3.1% […]

BC Real Estate Update May 2017

bcrea BLUE housing market update

BC Home Sales Turn Higher, Inventories at 20-Year Low Vancouver BC – May 2017 – The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was […]

Real Estate Auctions

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HOME AUCTIONS NOW IN VANCOUVER Harcourts Canada, a newcomer to Metro Vancouver’s real estate scene, want to make housing auctions a common and accepted way of buying and selling homes. The Zealand-based real estate company, opened its North Vancouver branch last summer, introducing a new trend in Metro Vancouver housing sales with auction-style property bidding. […]

Housing Market Update May 2017

A row a new townhouses in Richmond, British Columbia

TOWNHOME & CONDO DEMAND DRIVING VANCOUVER’S REAL ESTATE MARKET Between January and April 2017, condo and townhome sales contributed to 68.5% of total home sales across Metro Vancouver, according to Real Estate Board of Greater Vancouver data released May 2nd. Over the last three months, the benchmark price of condominiums has seen the largest increase […]

Housing Market Update April 2017

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Higher Demand Than Supply for Homes Across Vancouver Low housing inventory coupled with strong demand, specifically for condos and townhomes, propelled the market in March. The number of new listings has not been this low since March 2009. Ongoing competition to purchase condos and townhomes means attached home prices will likely continue to increase until […]

Empty Homes Tax

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The Empty Homes Tax will be applied annually, with the first tax year beginning on January 1, 2017. Homes that are deemed empty will be subject to a tax of 1% of the property’s BC Assessment value. Most homes will not be subject to the tax, as it does not apply to principal residences or homes […]

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