Century-old Chilliwack home on the market for $0 -- with a catch -
A beautiful 100-year-old heritage home in Chilliwack has just gone on the market.
Many in B.C. would refuse to buy home near oil pipeline: poll -
OTTAWA — Most British Columbians say they’d be concerned about buying a home near an oil pipeline, according to a new poll. And a sizable minority — 43 per cent — said they wouldn’t even consider such a purchase due to those concerns, according to the Angus Reid online survey commissioned by New Democratic Party MP Kennedy Stewart.
Metro Vancouver communities struggle to find ways to make densification gentler -
Vancouver is wrestling with the issue of housing affordability at the same time as it struggles with a need for more public transportation and how to pay for it. While the city is regularly named as one of the least affordable in the world, it is also often named one of the most livable cities.
UDI/FortisBC Housing Affordability Index: Affordability improves slightly in Metro -
The third quarter of 2013 saw a slight improvement in housing affordability in Metro Vancouver, due to slight drops in interest rates at some banks and a small rise in household income, statistical analysis provided to The Vancouver Sun shows. The rise in household income was reported in the Statistics Canada National Household Survey 2011, which provides 2010 incomes. The UDI/FortisBC Housing Affordability Index was previously using 2006 figures, which were the most recent available.
Canadian real estate market is not in a bubble, Poloz says -
Canada's housing market is not in a bubble and not likely to suffer a sudden and sharp correction in prices unless there is another major global shock to the economy, Bank of Canada governor Stephen Poloz said Wednesday.
Barbara Yaffe: Metro Vancouver feels growing pains amid office boom -
Have you noticed that Vancouver-area condo units lately are being built smaller?
In the city, single-family homes are a dying breed -
When Ben Taddei, president of Vancouver’s Bluetree Homes got into the housing development business in the early 90s single family was king.
New home construction could be a ‘real grind’ for Metro Vancouver in 2014 -
The new home industry can expect 2014 to be a “real grind” as impending municipal elections in Metro Vancouver could slow down the rate of approval for new housing projects, Vancouver real estate guru Michael Ferreira said Thursday. Ferreira warned a meeting of the Urban Development Institute to expect “to see more of this,” and he showed a slide of a protest signs that can be seen around Marpole in South Vancouver saying “Stop Marpole Rezoning.”
Barbara Yaffe: Real estate investors spark northern boom -
Don’t care for the dilapidated hovel your $250,000 might buy you in Vancouver? Well then, look up, look way up. That’s what Dave and Lisa Richardson did. The couple, who own a home with a rental suite in North Van, purchased both units in a duplex in Dawson Creek in 2012, for investment purposes.
B.C. condo owners want better municipal oversight of temporary occupancy permits -
A B.C. condo owners association will petition municipalities to adopt a new measure to ensure owners don’t get caught with incomplete occupancy permits that can undermine their ability to sell. The change is a simple one: it would require municipalities to notify strata corporations within the first year of occupancy whether the permit is complete, says Tony Gioventu, executive director of the Condo Home Owners Association of B.C.
Sunny condo market report raises hackles among critics -
If you are sitting the sidelines hoping for the condo market to crash, the Conference Board of Canada says you'll have to wait
B.C.'s priciest residential properties costing over $20 million (with photos) -
Most of British Columbia's most expensive mansions dot Westside Vancouver and West Vancouver, but a new map shows there are also pockets of pricey homes throughout the southeast of the province.
Mortgage rate hikes put the squeeze on homebuyers -
Those looking to gain a foothold in Metro Vancouver’s already pricey housing market are facing another hurdle as key financial institutions across the country move to hike mortgage rates. On Thursday, five-year fixed mortgage rates edged near the four-per-cent range at many financial institutions after hovering near the three-per-cent mark for months. RBC posted its five-year rate at 3.89 per cent, while BMO and Scotiabank offered 3.79 per cent and CIBC 3.69 per cent.
B.C. home sales hot in July, highest number in eight years: BC Real Estate Association -
Home sales in B.C. soared last month, the highest number for the month of July in eight years, according to the British Columbia Real Estate Association.
National housing numbers boosted by strong Vancouver sales: CREA -
OTTAWA - Homes were selling at a brisk pace in Vancouver and Toronto last month, while the national average price continued to rise, suggesting Canada's real estate industry has returned to "average levels" after a decline that began last summer.
Vancouver okays $200-million environmentally sustainable office tower -
A $200 million tower project billed as one of the most environmentally sustainable office buildings in Canada has been given the go-ahead for construction in Vancouver.
With home boom winding down, is housing market on death watch? -
OTTAWA - Canada's much-watched housing market is sending out mixed signals these days — even for analysts.
Office moves deal Surrey a big increase in office vacancies -
Surrey’s bid to develop its central core into Metro Vancouver’s second major office district has hit a short-term snag as recent corporate moves have driven up its office vacancy rate, according to a commercial realtor’s report. One move, which saw the RCMP relocate its offices from several leased locations to a new, purpose-built E Division headquarters in Surrey’s Green Timbers neighbourhood, left behind about 60,000 square feet of empty space, according to the report from Avison Young.
Metro Vancouver developers ease off on land purchases -
Metro Vancouver developers slowed down on purchasing new land for residential housing projects over the first several months of 2013, but that was less notable than the big increase in land purchases over the same period a year ago, according to a new report. Commercial real estate research firm RealNet recorded $329 million worth of commercial land sales in Metro Vancouver over the first four months of 2013, which was down 30 per cent from the $472 million made by developers over the same period of 2012, which was a high point for the region.
July hottest month for home sales in Vancouver -
July's record sunshine didn't hurt home sales in the Real Estate Board of Greater Vancouver's region. In fact, July was the hottest real estate month of the year so far, the board says.
Single-family home values will survive baby boomer sell-off, economists say -
It’s a question that can create severe anxiety disorder among baby boomers: Who will buy their single-family homes when they decide to downsize into smaller units? Pessimists feel baby boomers could soon flood the market with detached homes as health and financial issues force them to sell, creating an oversupply situation that forces prices down.
Metro Vancouver resale real estate market makes gains -
The average price of a home in Vancouver is once again rising as the Metro and Fraser Valley housing markets recorded some gains in sales volumes last month.
Mayor Gregor Robertson's home sells for $1.95 million -
Mayor Gregor Robertson’s family home has sold for the $1.95 million asking price, his office confirmed Friday.
Vancouver mayor’s $1.95-million home up for sale -
Mayor Gregor Robertson is selling his $1.95-million home near Douglas Park and moving to Kitsilano — to a new property on the proposed Point Grey bicycle route. That means the mayor won’t be voting on issues relating to the project, according to a written statement from Robertson’s office on Wednesday.
Lagging home sales point to a Metro Vancouver real estate market in transition -
After the first six months, call Metro Vancouver’s housing market a market in transition. Housing starts in the region are running behind 2012 levels as builders adjust to lower sales levels and higher inventories, but recent months have shown an uptick in construction.
First-time home buyers warned of possible mortgage hikes -
According to BMO’s First-Time Home Buyer’s Report, one-third of first-time buyers (31 per cent) expect interest rates to stay the same over the next five years. However, these first-time buyers may need to reconsider their outlook.
Metro Vancouver homeowners’ ardour for condo living cools: survey -
Condominiums remain the dominant property type in Metro Vancouver’s housing market, but their appeal as a purchase option appears to be on the wane among existing homeowners, according to a new survey from the Bank of Montreal. The survey, conducted by the polling firm Pollara for BMO, found that one-third of prospective homebuyers looking to buy within the next five years in Canada’s major cities were considering condominiums as an option.
Metro Vancouver housing market remains balanced, realtors say -
What do you have when house values dip slightly and sales remain below historical averages? You have "balanced" market conditions, according to the Fraser Valley and Greater Vancouver real estate boards
Value of B.C. recreational properties rebounds but prices still below peak -
B.C. recreational property prices held steady or rose slightly in most provincial markets the past year — with falling values in Tofino, Salt Spring Island and Harrison Lake the exception, according to a Re/Max report released Tuesday. Re/Max representative Elton Ash said the market for B.C. recreational properties is slowly improving but property values in many markets remain below the peaks set in recent years.
RentMoola promises renters rewards with plastic payment service -
A new Vancouver start-up promises to modernize one of the last bastions of cash and cheque transactions by introducing credit card payments to the rental market. RentMoola claims to be the first online service in Canada that enables renters to collect rewards and points by paying with plastic. The service allows for one-time or routine payments to be made through a registered credit card online or on mobile devices.
Donald Trump's Vancouver visit next week confirms speculation about tower -
Donald Trump is coming to Vancouver next week, confirming speculation that the Holborn Group will be bringing a Trump International tower to the city.
Asking price slashed in half for Bachelor Canada mansion on Vancouver Island -
The luxury mansion built for Bear Mountain developer Len Barrie is back on the market at less than half of last year’s asking price.
Analysis: New CMHC head leads focus on financial industry, risk management -
OTTAWA — Canada Mortgage & Housing Corp., which insures $563 billion of mortgages, named former Bank of New York Mellon Corp. CEO Robert Kelly chairman last month amid government pressure to upgrade management. He joins a board that includes a partner in a plumbing company and the former solicitor of a town in rural Nova Scotia.
Rise in building permits reflects sense of optimism, builders say -
As housing starts continue their ho-hum-but-steady pace through 2013, a surge in the number of building permits shows stronger numbers might be around the corner. The six-month trend for housing starts in Metro was nearly identical in May, at 16,324 units started, compared with April, at 16,370 units started, Canada Mortgage and Housing Corporation reported Monday.
First-quarter drop for Vancouver commercial real estate sales -
The value of commercial real estate sales in the Lower Mainland dropped 40 per cent in the first quarter of 2013 from the same time last year, and was the lowest seen since the first quarter of 2009, the Real Estate Board of Greater Vancouver reported Thursday. There were 384 commercial real estate sales worth $886 million conducted in the first quarter of this year. Last year’s first quarter, the highest in five years, saw 480 sales.
Canadian housing sector faces downside risk: Scotiabank real-estate report -
Housing prices in Canada have been relatively flat so far this year but there's a "downside risk" going forward, particularly in the country's largest city, according to a Scotiabank report issued Friday.
Vancouver's priciest condo sells for record-breaking $25 million -
The most expensive condo in Vancouver has been sold for $25 million.
Vancouver home sales for May up one per cent from a year ago, board says -
The Real Estate Board of Greater Vancouver says sales for May were up one per cent from a year ago.
Boomers will finance kids' housing purchases, Vancouver's condo king says -
Vancouver’s real estate market in the next 15 years will actually be two separate markets financed by one chequebook, real estate marketer and “condo king” Bob Rennie told an Urban Development Institute audience in Vancouver Thursday.
Flaherty discounts fears over housing market, calls slowdown a ‘healthy’ development -
Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention.