Category: Uncategorized
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Early-Q3 Sees Vancouver Home Prices Down 0.8%
Greater Vancouver home sales fell 5% from a year ago in July. 2,333 homes were sold in Vancouver during July.
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Slow Approvals Stifling Vancouver’s Housing Growth
City of Vancouver has reduced processing times for laneway homes by ↓ 60% and duplexes by ↓ 25%. However, multi-family housing permits still face significant delays, with mid-rise projects taking up to 19 months.
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Indigenous-led housing project to bring 1,600 new affordable rental homes to BC
More than 1,600 new affordable rental homes will be developed in British Columbia for Indigenous people, addressing the urgent need for housing. This initiative, part of the Building BC: Indigenous Housing Fund, includes 667 on-reserve and 995 off-reserve homes. The project aims to provide culturally supportive housing and foster community resilience. The province has allocated…
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Why Metro Vancouver Is Heading to a Buyer’s Territory
Metro Vancouver's Real Estate market has seen rising inventory and a jump in sales, suggesting a shift towards a buyer's market. The market is segment-specific: condo inventories are rising, while well-priced detached homes and duplexes still receive multiple offers
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Metro Vancouver Sees 20% Surge in New Listings
New listings ↑ 20% yearly, boosting inventory levels. Sales totalled 2,333, ↓ 5% yearly and ↓ 18% below the 10-yr avg.
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Vancouver Remains Attractive to Investors
Vancouver's cap rates are among the lowest in Canada, indicating lower risk and potential high returns.Cap rates expected to remain stable for Q3 2024.
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Greater Vancouver Real Estate Market Sees Both Buyers And Sellers Hesitating
Home sales in Greater Vancouver remained sluggish in August, with 1,904 transactions, down 17.1% from the previous year and 26% below the 10-year average. Despite two recent interest rate cuts by the Bank of Canada, buyers are still affected by high borrowing costs. New listings increased by 4.2% year-over-year, while active listings rose 37%. The…
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Vancouver Rentals Still Most Expensive in Canada
Vancouver and Burnaby remain the priciest rental markets in Canada despite year-over-year declines.Vancouver's one-bedroom rentals dropped 7.7%, and two-bedrooms fell 5.6% year-over-year.
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Interest Rate Cut Won’t Cool Vancouver Housing Market
Bank of Canada’s rate cuts may lower mortgage rates but won't significantly impact home prices. Decreasing rates are likely to result in lower fixed-rate mortgages, making now a good time to shop.
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Vancouver: What’s Driving the Prices Up?
Land Speculation: Global investors and speculators drive up land prices, making housing less affordable. Limited Supply: Restricted land availability and zoning regulations constrain housing supply, pushing prices higher.