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  1. GTA new home sales decline by 76% in February

    GTA housing market activity muted in February Ephraim VecinaCMP New report shows substantial declines in sales numbers la The Greater Toronto Area (GTA) new home market saw sales activity decline by 76% annually in February, down to a level 69% lower than the region’s 10-year average, according to Altus Group and the Building Industry and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    23-03-2023
    Real Estate Related

  2. Vancouver Council will consider a new policy to address the pace of change in the Broadway area

    Comment: City change to Broadway Plan will slow pace of rental housing Mark Goodman and Cynthia JaggerWestern Investor Vancouver staff recommendation to allow only five new development proposals per year flies in the face of earlier plans – and the city’s desperate need for more rental units Mark Goodman and Cynthia Jagger are partners in […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-03-2023
    Real Estate Related

  3. Fed increase 0.25% interest rate despite widespread concern surrounding the impact of ever-higher borrowing rates

    What does the US Fed’s latest rate hike mean for Canada? Ephraim VecinaCMP Sustained financial volatility will continue to influence policy on both sides of the border The United States Federal Reserve has announced another 0.25% increase in its key interest rate despite widespread concern surrounding the impact of ever-higher borrowing rates. “The US banking […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-03-2023
    Real Estate Related

  4. Vacancy rates nevertheless fell to a two-decade low as high levels of in-migration and the loss of housing affordability sparked a record surge in both demand and rents | RBC

    RBC sounds alarm on rental housing supply Ephraim VecinaCMP Canada’s rental housing shortage will likely quadruple in three years, new report says Canada’s rental housing shortage is anticipated to quadruple to 120,000 units by 2026 without a significant boost in current inventory levels, according to a new report by Royal Bank of Canada. This is […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-03-2023
    Real Estate Related

  5. Cedar LNG project will be the first LNG plant to be built and owned by a First Nation

    B.C. approves $3 billion Cedar LNG project Nelson BennettWestern Investor Floating liquefied national gas export terminal at Kitimat will be the first LNG plant to be built and owned by a First Nation Artist’s rendering of the floating LNG project in Kitimat. | Cedar LNG A $3 billion floating liquefied natural gas plant that the […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-03-2023
    Real Estate Related

  6. The provincial government will give TransLink almost half a billion dollars to prevent service cuts, keep fares stable and fund the purchase of electric buses

    B.C. Premier David Eby approves $479-million TransLink bailout David CarriggThe Vancouver Sun Mobility pricing next, say B.C. Liberals Premier David Eby announces a bailout for TransLink on Wednesday, March 15, 2023, in Vancouver. Photo by Herman Thind /jpg The provincial government will give TransLink almost half a billion dollars to prevent service cuts, keep fares […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-03-2023
    Real Estate Related

  7. 31 units of multi family rental sells for $7M located at 671 Martin Street, Penticton, B.C.

    Penticton 31-unit multi-family rental sells for $7 million Western Investor StaffWestern Investor Selling price was $100,000 above list, with assumable Canada Mortgage and Housing Corp.-insured financing at 1.73 per cent. Marcus & Millichap, Vancouver, for Western Investor   Property type: Multi-family rental Location: 671 Martin Street, Penticton, B.C. Number of units: 31 Sale price: $7 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-03-2023
    Real Estate Related

  8. 0.80 acres multi-family rental building sells for $28M located at 6540 Telford Street, Burnaby, B.C.

    Burnaby 44-door rental apartment building site sells for $28 million Western Investor StaffWestern Investor The Telford Avenue 35,022-square-foot lot has development potential of 6.15 FSR close to the Metrotown SkyTrain station. NAI Commercial, Vancouver, for Western Investor   Property: Multi-family rental building Location: 6540 Telford Street, Burnaby, B.C. Number of units: 44 Size of lot: […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-03-2023
    Real Estate Related

  9. Canadians expecting a stronger national economy in the next half-year also improved from 14.75% to 15.75%

    Poll: Canadian consumer sentiment registering marked improvements Ephraim VecinaCMP Canadians are becoming more optimistic towards home price prospects Canadians’ expectations surrounding their economic and financial situations have steadily improved in recent weeks, according to polling by Bloomberg and Nanos Research. The Bloomberg-Nanos Canadian Confidence Index, a weekly measure of economic expectations and financial health, registered […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-03-2023
    Real Estate Related

  10. Markets were pricing at a 40% chance of a BoC cut next month, with a near certainty of a cut by August

    SVB collapse: Could it lead to Bank of Canada rate cuts? Ephraim VecinaCMP Might the BoC change its approach? The Bank of Canada is among the institutions that could be reconsidering their future rate strategies in the wake of Silicon Valley Bank’s collapse and federal bailout. The state-chartered bank failed on March 10, in the […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    13-03-2023
    Real Estate Related

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