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  1. Sales of prime waterfront continue despite realestate market situation

    High-end Okanagan shrugs off the real estate blues Frank O’ BrienWestern Investor Multimillion-dollar property and land sales continue across the Central and North Okanagan this autumn, despite economic angst Edmonton-based Westrich Pacific plans a luxury 1,000-home mixed development on a 13-acre waterfront site it bought in West Kelowna. | Westrich Pacific Sales of prime waterfront, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    26-10-2022
    Real Estate Related

  2. Central bank continue to aimed at cooling the economy and tamping down inflation

    Bank of Canada makes another big rate hike Fergal McAlindenother The move marks the latest “supersized” rate jump of 2022 The Bank of Canada has announced a further 50-basis-point hike to its benchmark rate, marking a sixth consecutive increase as the central bank continues its aggressive action aimed at cooling the economy and tamping down […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    25-10-2022
    Real Estate Related

  3. Economy continues to operate in excess demand and labour markets remain tight

    Bank of Canada rate jumps 50 basis points to 3.75 per cent Frank O’ Brien Western Investor The increase means about $150 more per month on a variable-rate $500,000 mortgage  Bank of Canada Governor Tiff Macklem hints at further rate hikes: “We are not there yet.” | Bank of Canada The Bank of Canada (BOC) […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    25-10-2022
    Real Estate Related

  4. Canada is still reeling from the economic impact of COVID-19

    Could rising interest rates crash Canadas housing market? Fergal McAlindenother Rates have surged throughout the year – and more increases are on the way It was a soundbite that appeared to pave the way for a prolonged Canadian housing market boom: Bank of Canada governor Tiff Macklem’s announcement in July 2020 that record-low interest rates […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    24-10-2022
    Real Estate Related

  5. Financial risk for contractors in a slowing market | BCCA

    B.C. construction contractors being squeezed by success Frank O’ BrienWestern Investor Despite high demand, soaring costs for labour and building materials – and slow payments – are threatening commercial contractors: BCCA  The value of commercial, industrial and institutional construction projects has increased 80 per cent in five years. | Chung Chow A new report from […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    24-10-2022
    Real Estate Related

  6. 0.44 acres multi-family rental in White Rock sells for $8.5 Million

    White Rock, B.C., 31-unit multi-family rental trades at $8.5 million Western Investor StaffWestern Investor Built in 1976 on a 19,395-square-foot lot, the four-storey apartment building sold at $288,710 per door at a 3 per cent capitalization rate.   Goodman Commercial Inc., Vancouver, for Western Investor   Property type: Multi-family rental Location: 1558 Fir Street, White […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    21-10-2022
    Real Estate Related

  7. Housing starts in Metro Vancouver decline 23% in the first half of 2022 compared in 2021

    Rentals dominate Metro Vancouver housing starts Frank O’BrienWestern Investor Condo starts, in comparison, have fallen 36 per cent so far in 2022 from a year earlier Rendering of new project with 200 rentals planned for East Vancouver. | GBL Architects Housing supply has been top-of-mind across Vancouver for many months as housing advocates, politicians and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    21-10-2022
    Real Estate Related

  8. Inventory and sales activity is down in many markets across the country

    Despite Rate Hikes, 60% of Potential Buyers Are Still Planning to Buy: Survey Patti Cosgareaother

    By Les Twarog Vancouver Real Estate and Condo Blog
    20-10-2022
    Real Estate Related

  9. First Nation in northern B.C. is getting down to business

    Blueberry River FN launches new resource business in B.C’s north Frank O’ BrienWestern Investor Armed with $65 million awarded following court victory on land claim, small First Nations has formed Blueberry River Resources  Blueberry First Nations’ successful land claim overlaps part of the Montney gas basin near Dawson Creek, B.C. | Canada’s ARC Resources Ltd. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    20-10-2022
    Real Estate Related

  10. 6.56 acres manufactured home park in Sicamous sells for $3.35 Million

    Sicamous, B.C., 41-pad manufactured home park sells for $3.3 million Western Investor StaffWestern Investor The park is on 6.56 acres and close to two lakes in the Okanagan, about a 4.5-hour drive from Vancouver.   William Wright Commercial, Langley, B.C., for Western Investor   Property type: Manufactured Home Park Location: 501 Kappel Street, Sicamous, B.C. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2022
    Real Estate Related

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