Real Estate News & Articles

8 residences portfolio across B.C. and Alberta sold for $300 Million

2022-09-23

Seniors housing portfolio closes at more than $300 million Western Investor Staff Western Investor Eight senior residences sold include five in B.C. | Newmark Canada In a deal valued at more than $300 million, a portfolio of eight senior&rs…

Strong absorption both office and industrial market is keeping B.C. real estate humming despite economic worries

2022-09-23

Tech demand continues to drive West Coast office markets Peter Mitham Western Investor Industrial absorption rises during Q3 despite economic jitters Amazon will take occupancy of the south tower of The Post at 349 West Georgia Street later…

Canada's homeownership rate decline 66.5% after peaking in 2011 at 69%

2022-09-22

Homeownership slips despite increase in household incomes Shantae Campbell other

7.77 acres agricultural land sells for $4.1M located in 24680 Fraser Hwy, Langley, B.C.

2022-09-22

7.7 acres of Langley agriculture land sells for $4.1 million Western Investor Staff Western Investor Flat Agricultural Land Reserve land with highway exposure has future potential close to golf course. Varing Marketing Group | Homelife Adva…

14,857 square feet multi family rental sells for $3.6M located in 1860 Crescent, Victoria, B.C.

2022-09-22

Victoria eight-unit multi-family rental sells for $3.6 million Western Investor Staff Western Investor Well located and well-maintained apartment building, built in 1949, with stunning ocean views along desirable Crescent Road, Victoria, B.…

Vancouver residents are spending less than 30% on shelter costs

2022-09-22

More Vancouver residents spending less income on housing: census Peter Mitham Western Investor Renters most likely to spend more than 30 per cent of income on shelter A greater proportion of Vancouver residents are spending less than 30 per…

Federal plan for reducing greenhouse gas emissions from Canadian homes face major challenges

2022-09-21

Net-zero home retrofits would cost up to $6.3 billion per year: study Frank O'Brien Western Investor Study from CD Howe Institute says Ottawa would need to retrofit more than 500,000 homes per year to hit 2030 net-zero target   How a t…

Metro Vancouver commercial real estate sales drop by 2% in Q2

2022-09-21

Vancouver investment deals strong in Q2 as headwinds increase Peter Mitham Western Investor Cap rates set to rise as values reset following interest rate hikes   The 115 Place housing co-op on Cardston Court in Burnaby ranked among the…

Canada's inflation rate fall 7% in August

2022-09-20

Canada's inflation rate falls again Fergal McAlinden other Annual price growth has now declined for two consecutive months Canada’s annual inflation rate was down again in August, falling to 7% as gas prices posted a noted decline. Fi…

BoC's housing affordability index show that homes were now less affordable for Canadians

2022-09-20

How are Canadians coping with plummeting housing affordability? Fergal McAlinden other Homes are now less affordable than at any point in over three decades, research shows   Among the many challenges facing new buyers in the Canadian …

Credit unions and private lenders accounted 3.7% of Canada's mortgage origination activity in 2021

2022-09-20

Whats' behind the rise of credit unions in Canada? Fergal McAlinden other Loan originations by those lenders posted a noted increase this summer Credit unions and private lenders accounted for just 3.7% of Canada’s mortgage originatio…

Home sales slip by 1% in August, marking the sixth consecutive month of decline

2022-09-19

Home sales plunge by 32% since March rate hikes Scotiabank Micah Guiao other

Home prices are correcting across the country, but the speed and depth varies | Robert Kavcic

2022-09-19

Which Canadian cities are seeing home prices fall the fastest? Micah Guiao other "It's abundantly clear where the worst spots are," says BMO economist Real estate prices have been falling in almost every market, but Toronto is bearing most …

Canada's real estate market sees dramatic fluctuations from all-time price highs in early 2022

2022-09-19

Rising Interest Rates Causing Shifts in Calgary Area Property Sales: CREB Carrie Lysenko other   Across Canada, the real estate market has seen dramatic fluctuations from all-time price highs in early 2022 in the Greater Toronto and Va…

BoC's historic fight against deflation during the COVID recession

2022-09-17

The Bank of Canada is losing money for the first time ever on rising rates Stephanie Hughes other Central bank anticipates losses for the next three years, depending on how its inflation fight goes   The Bank of Canada’s historic…

National home sales fell only 1% month-over-month in August

2022-09-16

National Home Sales Hold Steady for First Time Since 2022 Peak: CREA Patti Cosgarea other   National home sales were down only 1% month-over-month in August, marking the smallest dip we’ve seen this year since the February peak. …

Area's housing inventory levels rose 3.2% compared with the 10-year average in 2022

2022-09-16

Housing supply crisis: Time for "alarm bells, s"ays RE/MAX president Fergal McAlinden other A long-standing issue in Canada’s housing market only appears to be getting worse   The time has come to “ring the alarm bell&rdquo…

Canadian housing starts down 3% in August over the previous month

2022-09-16

Canada housing starts drop in August Fergal McAlinden other A decline in multi-unit urban starts contributed to a slower month overall, said CMHC Canadian housing starts were down 3% in August over the previous month, a trend that was drive…

Metro Vancouver office vacancies fall 7.8% during the period, down from 8.4% a year earlier

2022-09-16

Downtown office market stabilizing but tenants are staying nimble Peter Mitham Western Investor Flexible leases in demand as economic outlook calls for caution Downtown Vancouver office space is enjoying a stabilizing environment, says Avis…

0.22 acres retail site in Kelowna sells for $1.4 Million

2022-09-16

Kelowna 9,583-square-foot retail site sells $100,000 over list Western Investor Staff Western Investor The free-standing downtown site on 0.22 acres with two rental units also sold for nearly $440,000 above its appraised value, at $1.4 mill…

3.4-acre industrial site in Coquitlam sold for $24M in Q2 2022

2022-09-16

Industrial leads drop in CRE transactions across Lower Mainland Western Investor Staff The Vancouver Sun With a 34 per cent decline in property deals, total commercial real estate sales volume in the second quarter fell to $3.26 billion &nb…

Housing starts in Canada fell in August | CMHC

2022-09-16

Housing starts decline almost 3%, amid concerns about supply Shantae Campbell other

Saskatchewan residential property sales continue to decline from last year

2022-09-15

Saskatchewan residential sales exceed 10-year average Jaryn Vecchio Western Investor Sale prices are increasing in many communities as listings remain low Residential property sales across Saskatchewan continue to be down from last year but…

Average home price increase 10.8% in 2022 and sales fall by 14.7% | CREA

2022-09-15

CREA slashes 2022 home sales forecast Fergal McAlinden other Prices will also fall further than previously expected, association says The Canadian Real Estate Association (CREA) has cut its forecast for home sales in 2022 and indicated lowe…