With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June … Read more
June once again sees a significant increase in Metro Vancouver’s average rent prices heading into the summer months. This month, the average rent for an unfurnished, one-bedroom unit across the region has climbed a further $40 to reach another new all-time high of $2,056. Vancouver itself experienced larger than usual changes this month, although prices were comparatively … Read more
With summer in the air, it’s time to take that final step of putting a sign on the lawn (or getting that post on the cyber web)- at least if one of your to-dos is to know the most profitable days to sell your home and get to the big move, while the weather is … Read more
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates. Lets see the Monthly Market Report of May 2022 The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled … Read more
May is looking to be a huge month for Metro Vancouver’s average rental prices, as prices have reached sky-high levels as we head into the peak rental season. This month, the average rent for an unfurnished, one-bedroom unit across the region has risen as much as $108 to reach an all-time-high average of $2,016 per … Read more
Despite the high rent costs for residents of Toronto and Vancouver, the ownership costs of real estate investors have only increased in recent years, causing them to still lose money. According to the owner of Butler Mortgage, Ron Butler, “it’s all about leverage” referring to rising interest rates and the slowing down of the increasing … Read more
Homebuyer demand in Metro Vancouver* returned to more historically typical levels in April. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 3,232 in April 2022, a 34.1 percent decrease from the 4,908 sales recorded in April 2021, and a 25.6 percent decrease from the 4,344 homes … Read more
Average rental prices across Metro Vancouver have spiked once again, up yet another $52 this month. For April, the region’s average cost for an unfurnished, one-bedroom unit tops $1,900, and is now at $1,908 for the month. This sets yet another high for the area’s average rental rates, going as far back as when our … Read more
Strategies for Buying Your First Home Your first home purchase can be an unnerving path filled with uncertainty and doubt. Can I afford it? Am I paying too much? Will I be able to pay the mortgage? Property prices continue to rise, so buying a home for the first time may seem like an unreachable … Read more
For homebuyers interested in buying a condo, it all comes down to a very important and sometimes tough decision: Old or new? Condos form their own community by sharing common areas such as a fitness center, manicured grounds, and a pool, for example. As opposed to an apartment owner, condo owners pay monthly fees for … Read more
On March 28, 2022, the BC Government introduced amendments to the Property Law Act which enable the creation of a “Homebuyer Protection Period”, which is essentially a cooling-off period that allows buyers to back out of buying a home after signing a Contract of Purchase and Sale. These amendments come as a result of the … Read more
Continuing their unrelenting upward trend, Metro Vancouver’s rental averages have climbed another $16 from February. In fact, the region has seen only one month out of the past six where prices declined in the aggregate, and that was a mere $4 drop from December to January. This month, Vancouver’s rent prices have risen even further … Read more