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Metro Vancouver to see continued decline in sales through late 2023 and early 2024 due to higher borrowing costs. Over 20K potential buyers sidelined by interest rate hikes could return to the market in 2024 as rates fall.

CEBA loans and low consumer spending are potential challenges for the market. Retail real estate in Metro Vancouver remains strong, with low vacancy rates. The region's retail market finished 2023 in a strong position. New developments, including the Oakridge Centre redevelopment, are expected to add more space. Continue to full article

Vancouver's one-bedroom rent has fallen for the fourth consecutive month, dropping 1.1% to $2,700.Two-bedroom rents in Vancouver have also declined, decreasing by 2.8% to $3,890 during this period.

In some families, it’s a day to spend time playing in the snow, building snowmen, or having snowball fights. Some families take advantage of the long weekend to have a "staycation" and enjoy the activities in their own city or town. Take advantage of this wonderful time of year to reinforce your family bonds. Wishing…

Asking rents for apartments in Vancouver ↓ 0.7% yearly to $3,059. 1-bed apartment rent: ↓ 5.8% MoM but ↑ 4% yearly to $2,700

Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400. By the middle of the 18th, it was…

Vancouver ended 2023 with a 5% increase in average home prices, reaching $1.17 million. Despite high borrowing costs, December home sales rose compared to the previous year. However, sales remained below the 10-year seasonal average. The Real Estate Board of Greater Vancouver reported 1,345 homes changing hands in December, a 3.2% increase from the same…

Experts expect increased new supply in Vancouver's Real Estate market for 2024, though it may not directly lower home prices.New residential housing construction ↑ 37% in 2023, potentially ↑ supply in the Real Estate market.

A new secured purpose-built rental housing and childcare facility will be built at SkyTrain Joyce-Collingwood Station, replacing a 1993-built condo building. The new development will include 679 rental homes, with a mix of unit sizes, and a 4,600 sq ft childcare facility. The project will also feature retail/restaurant spaces and parking. The developer will provide…

Vancouver city councillor Peter Meiszner expressed discomfort over the significant budget increases for two Metro Vancouver rental projects in Burnaby, citing lack of information to support the increases. The projects' costs have doubled their original estimates due to design changes and construction cost escalations. Meiszner voted against the budget increase, but the projects passed the…