Real Estate News & Articles

A set of guidelines that protect Canadians who are facing exceptional circumstances related to meeting their mortgage payments

2023-03-30

Federal budget: Will it provide any relief for Canadian homeowners and buyers? Fergal McAlinden CMP The announcement contained protections for mortgage holders and updates on the tax-free first-home savings account Amid a flurry of new poli…

Fed reiterate its commitment to, among other things, improving housing access and affordability across Canada

2023-03-30

Scotiabank's Holt blasts federal spending plans Ephraim Vecina CMP Economist describes "divisive" budget as "an assault on relatively wealthy folks" Through its latest budget, the federal government reiterated its commitment to, among other…

Average home price below national in 14-out-of-20 regional housing markets

2023-03-29

These Canadian housing markets have home prices below the national average Hilary Punchard CTV News Home prices have fallen below the national average in 14-out-of-20 regional housing markets, according to a report by Zoocasa. In a release …

Fed housing minister made amendments to regulations on foreign purchases of residential property

2023-03-29

CMHC amends 'illogical' foreign homebuyer ban to help boost housing supply growth Denise Paglinawan Financial Post Changes will allow non-Canadians to purchase a residential property in certain circumstances Changes have been made to the fo…

Bank of Canada is keeping an eye on the Silicon Valley Bank crisis and global banking stresses

2023-03-29

Bank of Canada ready to act against banking turmoil, deputy governor Toni Gravelle says Stephanie Hughes Financial Post Silicon Valley Bank crisis will factor in the central bank's next monetary policy report The Bank of Canada in Ottawa. P…

Housing construction in B.C. needs to increase 25% above its historical average level over the next five years | BCREA

2023-03-29

BC needs significantly accelerated housing construction, says real estate board Ephraim Vecina CMP The next half-decade will be a crucial period for the province's housing supply To compensate for further depletion of housing supply, the ra…

Lowering price growth so incomes can catch up to prices is integral to improving housing affordability in B.C. | Brendon Ogmundson

2023-03-28

Unprecedented construction needed in B.C. to offset record immigration: Report The Canadian Press The Vancouver Sun The B.C. Real Estate Association says the province must build 25 per cent more new homes than usual for the next five years …

The federal budget will be closely watch as a key indicator of Canada's economic future

2023-03-28

'Rising economic uncertainty' facing Canada: RBC Miko Pagaduan CMP Despite resilience, headwinds from aggressive rate increases are gathering The announcement of Canada’s federal budget will take place against a backdrop of “ris…

GTA new home sales decline by 76% in February

2023-03-24

GTA housing market activity muted in February Ephraim Vecina CMP New report shows substantial declines in sales numbers la The Greater Toronto Area (GTA) new home market saw sales activity decline by 76% annually in February, down to a leve…

B.C. real estate investment total $3.9B in 2022, despite a sharp drop in the second half of the year as rising interest rates put the brakes on deal-making

2023-03-24

BC real estate investment deals hit $3.9 billion in 2022 Peter Mitham Western Investor Rising interest rates dampened activity, but investors are returning as 2023 hits its stride Meadow Crossing in Burnaby was the most expensive industrial…

Vancouver Council will consider a new policy to address the pace of change in the Broadway area

2023-03-23

Comment: City change to Broadway Plan will slow pace of rental housing Mark Goodman and Cynthia Jagger Western Investor Vancouver staff recommendation to allow only five new development proposals per year flies in the face of earlier plans …

Fed increase 0.25% interest rate despite widespread concern surrounding the impact of ever-higher borrowing rates

2023-03-23

What does the US Fed's latest rate hike mean for Canada? Ephraim Vecina CMP Sustained financial volatility will continue to influence policy on both sides of the border The United States Federal Reserve has announced another 0.25% increase …

Vacancy rates nevertheless fell to a two-decade low as high levels of in-migration and the loss of housing affordability sparked a record surge in both demand and rents | RBC

2023-03-23

RBC sounds alarm on rental housing supply Ephraim Vecina CMP Canada's rental housing shortage will likely quadruple in three years, new report says Canada’s rental housing shortage is anticipated to quadruple to 120,000 units by 2026 …

Cedar LNG project will be the first LNG plant to be built and owned by a First Nation

2023-03-16

B.C. approves $3 billion Cedar LNG project Nelson Bennett Western Investor Floating liquefied national gas export terminal at Kitimat will be the first LNG plant to be built and owned by a First Nation Artist's rendering of the floating LNG…

The provincial government will give TransLink almost half a billion dollars to prevent service cuts, keep fares stable and fund the purchase of electric buses

2023-03-15

B.C. Premier David Eby approves $479-million TransLink bailout David Carrigg The Vancouver Sun Mobility pricing next, say B.C. Liberals Premier David Eby announces a bailout for TransLink on Wednesday, March 15, 2023, in Vancouver. Photo by…

31 units of multi family rental sells for $7M located at 671 Martin Street, Penticton, B.C.

2023-03-15

Penticton 31-unit multi-family rental sells for $7 million Western Investor Staff Western Investor Selling price was $100,000 above list, with assumable Canada Mortgage and Housing Corp.-insured financing at 1.73 per cent. Marcus & Mill…

0.80 acres multi-family rental building sells for $28M located at 6540 Telford Street, Burnaby, B.C.

2023-03-15

Burnaby 44-door rental apartment building site sells for $28 million Western Investor Staff Western Investor The Telford Avenue 35,022-square-foot lot has development potential of 6.15 FSR close to the Metrotown SkyTrain station. NAI Commer…

An eight-lot land assembly in Coquitlam sells for $24.51 Million

2023-03-15

Coquitlam 1.33-acre land assembly sells for $24.51 million Western Investor Staff Western Investor The eight-lot ‘Oakdale assembly’ site, destined for a high-rise residential or mixed-use development close to the Burquitlam SkyT…

Canadians expecting a stronger national economy in the next half-year also improved from 14.75% to 15.75%

2023-03-14

Poll: Canadian consumer sentiment registering marked improvements Ephraim Vecina CMP Canadians are becoming more optimistic towards home price prospects Canadians’ expectations surrounding their economic and financial situations have …

Markets were pricing at a 40% chance of a BoC cut next month, with a near certainty of a cut by August

2023-03-14

SVB collapse: Could it lead to Bank of Canada rate cuts? Ephraim Vecina CMP Might the BoC change its approach? The Bank of Canada is among the institutions that could be reconsidering their future rate strategies in the wake of Silicon Vall…

The share of indebted Canadian households that were behind on their repayments for at least 60 days spiked from 1.92% at the end of 2021 to 2.16% in Q4 2022

2023-03-13

Bank of Canada reveals current extent of consumers' financial risk Ephraim Vecina CMP The central bank has engaged in an unprecedented campaign of rate jumps over the past year The spate of interest rate hikes over the past year and the res…

The sky-high cost of housing in Canada represented a "very serious" problem that showed little signs of improvement | Marc Meehan

2023-03-13

Affordability, supply remain big challenges in 2023: report Fergal McAlinden CMP Commercial real estate analysis highlights the strain being put on the multifamily sector by lack of inventory While green shoots are appearing in commercial r…

Canada interest rates remain high despite the Bank's decision to hit pause on hikes

2023-03-10

The Bank of Canada has hit pause on rate hikes. What's next? Fergal McAlinden CMP Further hikes in 2023 can't be ruled out, says chief economist The Bank of Canada’s decision to leave its benchmark rate untouched in its March announce…

TD Economics anticipating a "sizeable" slowdown in consumer spending and job losses in the US and Canada

2023-03-10

How serious is the risk of a recession in 2023? Ephraim Vecina CMP TD Economics breaks down the factors that could trigger a slowdown By most indications, the current risk of recession is elevated, with TD Economics anticipating a “si…