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  1. Canada’s commercial real estate landscape is set for a “seismic shift” not seen since the early 1990s

    While the high interest rates of 1982 ruined many, Bains said the downturn of 1993 was even worse for the Vancouver real estate market in terms of liquidity.

    The liquidity challenges have returned in the current environment, where interest rates have risen faster and stayed high for longer than they did 40 years ago.

    The result has been a reset in people’s expectations of the cost of capital, heralding a changing of the guard similar to the late 1980s and early 1990s.
    Source: Western Investor
    21-02-2024

  2. There’s been a sizable uptick in the number of homes for sale, according to the latest RE/MAX National Housing Report

    According to the latest RE/MAX National Housing Report – which surveyed 50 U.S. metro areas – the number of newly listed homes in January was 66.3% higher than in December and 21.5% higher than in January a year ago.

    The December-to-January jump was significantly larger than that of years past. What could this mean, exactly? Well, it could bode well for a bustling spring market.

    By RE/MAX Newsroom
    20-02-2024

  3. There’s been a sizable uptick in the number of homes for sale, according to the latest RE/MAX National Housing Report

    According to the latest RE/MAX National Housing Report – which surveyed 50 U.S. metro areas – the number of newly listed homes in January was 66.3% higher than in December and 21.5% higher than in January a year ago.

    The December-to-January jump was significantly larger than that of years past. What could this mean, exactly? Well, it could bode well for a bustling spring market.

    By RE/MAX Newsroom
    20-02-2024

  4. The niche architect: Alex Wilson’s systematic rise in real estate

    When you sit down with Mark Faris, it doesn’t take long to see why his team has done over 1,700 transactions in a single year. Even in 2023, when the market was down for many, his team still did over 1,000 transactions.

    You need to post on social media every day to stay relevant! You’ve heard it time and time again from agents, trainers, influencers, etc. … It’s well-intentioned advice, and much of its original meaning was right at the time. However,
    By Andrew Fogliato
    14-02-2024

  5. High-density, mixed-use project along Delta's side of the 120 Street corridor, approved by City Council

    This is a redevelopment of the 2004-built, six-acre Delta Shoppers strip mall on the mid-block site near the northwest corner of the intersection of 80 Avenue and 120 Street, replacing almost two dozen businesses including One20 Public House and Liquor Store, Kumare Restaurant and Bakery, JYSK, and She’s Fit.

    It is located immediately south of Real Canadian Superstore, and immediately north of the 2017-built, 37-storey Delta Rise condominium tower, which is currently the only high-rise tower in Delta.
    By Kenneth Chan
    13-02-2024

  6. BC Real Estate Association numbers point to market ‘uptrend’ at beginning of 2024

    The association says 3,979 sales were completed last month, for an average price of $957,909, a more than 10-per-cent jump from the year before.

    Association chief economist Brendon Ogmundson says the sales numbers show a “clear uptrend” to kick off 2024 with a dollar value of $3.8 billion in sales for the month.
    By By Staff The Canadian Press
    13-02-2024

  7. BC industrial markets look to home in the face of headwinds

    Smaller deals to local owner-occupiers are characterizing industrial markets in B.C. and Alberta as demand cools and construction costs remain high.

    “Anyone who absolutely had to have that large-bay space, they were having to commit to pre-construction buildings more than two years out, and obviously those were few and far between,” said Susan Thompson, associate director, research with brokerage Colliers International in Vancouver. “But today, because the e-commerce demand for space has backed off a little bit, the big portion of the deals we’re seeing is much smaller deals.”
    Source: Western Investor
    11-02-2024

  8. Investors flock to First Nation land as Kelowna home, condo values slump

    B.C.’s Short-Term Rental Accommodation Act does not apply to reserve land or treaty land unless a First Nation chooses to opt in through an agreement with the province.

    Kelowna condo owners who purchased in 2022 saw their values drop $60 a day in 2023. The average condo/apartment price in Kelowna was $502,800 two years ago, but Point2 says that fell to $480,800 last year.

    So what drove the diminishing values? Point2 says it’s a combination of factors including inflation, high interest rates, and for condos, falling demand.

    Kelowna need look no further than across Okanagan Lake, where interest in properties at the Westrich Bay development on Westbank First Nation land surged in recent months.

     

    By Cindy White/Castanet
    07-02-2024

  9. Human Resources & Education B.C. private-college operator worries crackdown on bad actors is affecting good ones

    The president of a college in Victoria says he supports a provincial crackdown on private post-secondary institutions “preying” on international students, but worries about the impact of further restrictions on legitimate operations.

    James Christian says Pacific Rim College in Market Square, which has 360 full- and part-time students taking courses in alternative healing, meets the highest provincial standards, doesn’t charge higher fees to its international students — who make up about 10 per cent of school population — is accredited and student-aid approved, turns out skilled workers and performs community outreach.
    By Cindy E. Harnett, Times Colonist
    05-02-2024

  10. North Vancouver's Sinclair Dental sells to global distributor Medline Canada Corp.

    North Vancouver-based dental supply and equipment distributor Sinclair Dental has sold to global medical-supply distributor Medline Canada Corp. for an undisclosed amount in a transaction that executives say will keep customers served to the same high standards.

    Medline called the 530-employee Sinclair Dental "Canada's largest independent, full-service dental supplies and equipment distributor," and said that the venture will continue to operate separately from Medline's medical-supply business.
    By Glen Korstrom
    05-02-2024

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