Although home sales in Metro Vancouver are still lower than expected around this time of year, the housing market has seen a significant increase in activity in the last few months, rising near to levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with … Read more
April saw an inverse of the pricing trend we’ve been witnessing since the beginning of the year, with unfurnished one-bedroom homes seeing an increase in the average rental price, while furnished one-bedroom homes saw a decrease in their average rental price. Since April 2022, the average rent for an unfurnished, one-bedroom unit in Metro Vancouver … Read more
For the second month in a row, unfurnished one-bedroom rental prices have dropped across the region of Metro Vancouver, excluding only the communities of Vancouver and West Vancouver, which both saw rental increases for unfurnished one-bedroom units slightly over 2%. According to liv.rent, the average price for an unfurnished one-bedroom unit has fallen by $43 … Read more
The Real Estate Board of Greater Vancouver reported that March saw 2,535 house sales; a 45.2% decrease from the 4,405 sales made in March 2022. Despite this, home prices across Metro Vancouver have increased modestly since the start of the year, and this is expected to continue this Spring. The MLS® Home Price Index composite … Read more
The Governing Council of the Bank of Canada (BOC) raised its target for the overnight policy rate by 75 basis points (or 0.75%) today to 3.25% and signaled that the policy rate would rise further. While some Bay Street analysts believed this would be the last tightening move this cycle, the central bank’s press release has dissuaded … Read more
Metro Vancouver is an area with a wide range of rental rates. For example, West Vancouver had the highest prices for one, two and three-bedroom homes, both furnished and unfurnished, in consecutive months, while North Vancouver had the highest prices for furnished units. On the other hand, Coquitlam had the least expensive one-bedroom furnished units … Read more
Recent data from February indicates that many potential sellers in Metro Vancouver still hesitate to participate in the local real estate market, leading to a below-average number of transactions. This lack of engagement has caused inventory levels in the region to increase slightly compared to previous years. This trend towards reduced activity is far from … Read more
Back in the day, Yaletown was rather unknown to most residents in Vancouver. It was mainly a “warehouse district” in the Downtown South section of the city. Today, with its busy commercial activities, bustling offices and restaurants, art gallerias, and its growing residential/real estate sectors, Vancouverites have pretty much recognized this city as a dynamic … Read more
Inventory remains low in Metro Vancouver* while home sales dipped well below monthly historical averages in January. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 percent decrease from the 2,285 sales recorded in January 2022, and a 21.1 percent decrease … Read more
This upward trend we’ve been experiencing in rent prices in and around Metro Vancouver is not expected to continue. With the Bank of Canada’s interest rate increases slowing down, rental prices could potentially decrease as well. Since January 2022, the average rent for an unfurnished, one-bedroom apartment has increased by $430. This is an unprecedented … Read more
Have you ever considered investing in real estate, but weren’t sure where to start? Or maybe you have a few properties and are considering hiring a property management company to help you keep things running smoothly. Either way, this blog post is for you! We’ll give you an overview of what real estate investing entails, … Read more
In 2022, Metro Vancouver’s housing market took a cautious approach due to the rise in borrowing costs caused by the Bank of Canada’s ongoing fight with inflation. According to the Real Estate Board of Greater Vancouver (REBGV), residential home sales in the area totalled 28,903, which is a 34.3% drop from the 43,999 sold in … Read more