News & Updates

BC Home Sales Forecast to Rise Through 2016

(February 11, 2015, posted in Real Estate)

Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 2.4 per cent to 86,050 units this year and a further 3.9 per cent to 89,400 units in 2016. The ten-year average is 82,100 unit sales. Stronger economic conditions at home and abroad combined with favourable demographics and interest rates are expected to underpin provincial housing demand over the next two... read more.

Vancouver housing market booming as B.C. reaps gain of Alberta residents

(February 04, 2015, posted in Real Estate)

The Vancouver region’s housing market is off to a hot start for 2015 amid forecasts that Alberta’s pain will be British Columbia’s gain.

The home price index (HPI) in Greater Vancouver for single-family detached homes hit a record $1,010,000 in January, jumping 8.4 per cent from the same month in 2014. The benchmark HPI, which strips out the most expensive properties, reached a new high of $641,600... read more.

Property developers bullish on Metro Vancouver real estate market

(January 27, 2015, posted in Real Estate)

VANCOUVER — Continuing low interest rates and a healthy stream of newcomers will ensure the good times keep rolling in 2015 for the Lower Mainland’s property development industry. But it also means pricing will continue to pose a challenge.

Three of B.C.’s biggest developers used adjectives like “great” and “incredibly positive” as they delivered a forecast last week to more than 1,100 industry ins... read more.

Low dollar equals ‘bargain’ Vancouver real estate for international buyers

(January 22, 2015, posted in Real Estate)

The low dollar, the interest rate cut and the recovery of the American economy should mean good news for the real estate markets in most places in B.C., experts say.

But the plummeting cost of oil and the resulting instability of the Canadian economy could hurt domestic demand and spell bad news for resort areas such as the Okanagan, which rely on people from Alberta buying vacation homes.

Dan Scarr... read more.

BoC interest rate drop may boost Vancouver housing market

(January 21, 2015, posted in Real Estate)

Already ranked as one of the most unaffordable cities in the world, Vancouver's heated real estate market could get a further push, after the Bank of Canada cut the overnight lending interest rate to 0.75 per cent.

The rate had been at one per cent since September 2010 and the cut shocked markets on Wednesday. It will likely result in lower interest rates for variable rate mortgages, lines of credi... read more.