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  1. Metro Vancouver on track for strong but not record-breaking performance in 2022

    Greater Vancouver investment deals stalled in third quarter Peter MithamWestern Investor Metro Vancouver deals slow but stabilizing interest rates offer hope Wesgroup’s $152.8 million purchase in September of the Coronation Park site in Port Moody was among the biggest investment deals of the third quarter. A range of macroeconomic factors led by rising interest rates […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 04-01-2023
    Real Estate Related

  2. BoC’s increase the policy rate at seven of the eight interest rate announcement dates in 2022 | Andrew Lis

    Vancouver market takes ‘wait and see’ approach as Dec. sales fall 52% from year ago The Canadian PressThe Vancouver Sun The board attributed the decreases to the market experiencing “a year of caution” caused by rising borrowing costs and inflation. Homes are pictured in Vancouver, Tuesday, Apr 16, 2019. Photo by JONATHAN HAYWARD /THE CANADIAN […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 04-01-2023
    Real Estate Related

  3. Canada added more than 431,000 new permanent residents in 2022

    How many new immigrants came into Canada last year? Ephraim VecinaCMP Feds reveal the volume of new arrivals into Canada Canada added more than 431,000 new permanent residents last year, marking its largest ever annual increase and exceeding the 2022 immigration target established by Prime Minister Justin Trudeau. Immigration, Refugees and Citizenship Canada reported that […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 04-01-2023
    Real Estate Related

  4. Housing sales in B.C. in 2022 down 50% compared to a year earlier | BCREA

    Cooling off period comes to coldest housing market in years Frank O’BrienWestern Investor Effective January 3 ,2023, a B.C. homebuyer has three business day to cancel a sales agreement   Amid B.C.’s coldest housing market in years, where it now takes weeks for the average home to sell, the province has brought in a cooling-off […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 03-01-2023
    Real Estate Related

  5. Despite the sharp drop in sales, benchmark prices remained stable in December | REBGV

    Vancouver homebuyers prove willing, but listings are weak Frank O’BrienWestern Investor Housing sales accounted for more than 100 per cent of new listings added in Greater Vancouver during December Benchmark condo apartment prices ended 2022 up 1.7 per cent from the same time a year earlier, at $713,700. | Chung Chow Greater Vancouver’s housing market […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 03-01-2023
    Real Estate Related

  6. Demand and home prices hit new highs, before abruptly turning in the opposite direction in response to higher mortgage interest rates

    Here Are the U.S. Cities Where Home Prices Rose and Fell the Most in 2022 Evan Wylogeother By any definition, 2022 was one wild, white-knuckle roller coaster of a year for real estate. Demand and home prices hit new highs, before abruptly turning in the opposite direction in response to higher mortgage interest rates. With […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 03-01-2023
    Real Estate Related

  7. HELOC load just one sign of the “extreme level” of indebtedness that currently characterizes the Canadian financial system | David Rosenberg

    How large is Canada’s current HELOC load? Ephraim VecinaCMP OSFI releases latest HELOC data The value of loans secured by housing in Canada continued to go up with a 0.1% monthly uptick and a 9.6% increase to reach $308.9 billion in October, according to filings at the Office of the Superintendent of Financial Institutions. However, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 03-01-2023
    Real Estate Related

  8. Blackwater construction team has made significant progress in Q4 2022

    B.C.’s Blackwater Gold mine construction to start this spring Nelson BennettWestern Investor Blackwater Gold mine near Vanderhoof will start in the first quarter, despite permit delayWork camp to be expanded to accommodate 475 workers. | Artemis GoldConstruction of B.C.’s newest gold mine – the Blackwater mine 110 kilometres south of Vanderhoof — is expected to […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 02-01-2023
    Real Estate Related

  9. 2 acres industrial land in Surrey sells for $14 Million

    Surrey two-acre industrial site sold for $14 million Western Investor StaffWestern Investor Two-lot assembly on 192 Street sold for $7 million per acre in the first quarter of 2022. Colliers, Vancouver, for Western Investor   Property type: Industrial land Location: 9714 and 9718, 192 Street, Surrey, B.C. Land size: 87,120 square feet Land size in […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 28-12-2022
    Real Estate Related

  10. The aggregate price of a Canadian residential unit drop 1% by Q4 2023

    How much are Canada home prices likely to drop next year? Ephraim VecinaCMP Royal LePage provides latest market forecast The aggregate price of a Canadian residential unit is likely to decline by around 1% on an annual basis during the fourth quarter of 2023 to settle at $765,171, according to a new forecast by Royal […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 14-12-2022
    Real Estate Related
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