Real Estate News & Articles

More than half of Canadian home buyers opted for variable-rate mortgages since July 2021

2022-08-10

Canadian homebuyers moving back to fixed-rate mortgages amid recession fears Nichola Saminather other Canadian home buyers are shifting to fixed-rate mortgages at the fastest pace in a year, on bets that more rate hikes from the central ban…

Unforeseen delays caused by a new layer of B.C. red tape and months of COVID shutdowns

2022-08-10

Pre-sale condo buyer skeptical about down payment as Coquitlam building stalls for three years Susan Lazaruk The Vancouver Sun The unforeseen delays, caused by a new layer of B.C. red tape and months of COVID shutdowns, shows how developers…

20-storey building has no ETA for the elevator service to be restored

2022-08-09

Elevators out in 20-storey West End condo tower? Call the fire department Joanne Lee-Young The Vancouver Sun Strata manager’s note says maintenance company troubleshooting the problem, but adds ‘currently no diagnosis nor ETA fo…

Housing boom after the outbreak of the COVID-19 pandemic

2022-08-08

"Don't panic" on housing market: principal broker Fergal McAlinden other Prominent executive sees cause for optimism despite recent cooldown Amid the furore over rising interest rates and a protracted slowdown in sales, there’s consid…

Managerial and financial fire power needed on the new board | Mike Harcourt

2022-08-07

B.C. Housing overdue for new leadership, says former premier Susan Lazaruk The Vancouver Sun The next step for the new board is to hire a new CEO for the provincial housing agency that has a $2-billion annual budget and is responsible for s…

House prices in Quebec appear to have remained robust throughout the adjustment

2022-08-05

Montreal housing market: Where are house prices headed? Fergal McAlinden other The city has witnessed continued price growth despite the impact of rate increases While Quebec’s housing market hasn’t proved immune to the national…

Sales activity drop for the fourth straight month amid sustained interest rate hikes

2022-08-05

Rate hikes make themselves felt in the Fraser Valley market Ephraim Vecina other The impact was especially apparent in home sales activity and average prices The Fraser Valley real estate market saw sales activity drop for the fourth straig…

Multi family rental in Kamloops sells for $2.3 million

2022-08-05

Kamloops multi-family rental sells at $176,923 per door NAI Commercial Western Investor This 13-suite rental apartment building, centrally located near shopping and transit, sold for $2.3 million. Property type: Multi-family rental Location…

Canada's once-hottest housing markets continues to gather pace

2022-08-04

Toronto home sales continue to plummet Fergal McAlinden other One of the country's hottest markets is experiencing a protracted slowdown   A marked cooldown in one of Canada’s once-hottest housing markets continues to gather pace…

A massive 43.3% Home sales annual drop | REBGV

2022-08-04

Vancouver market decelerates amid outsized rate hikes Ephraim Vecina other The region's July housing activity was significantly slower than the 10-year average The impact of the central bank’s outsized rate hikes has become starkly ap…

Cratering home sales to a recession to institutional investors "gobbling up" the single-family market | NAR

2022-08-04

A 'Weird Recession' and a 'Rental Society': The Industry in Transition Jesse Williams other   Another year, another period of unprecedented transition in real estate. Although agents, brokers and everyone involved in the housing market…

New system save brokers valuable time and effort as strengthen their relationships with their clients | TD

2022-08-03

TD launches new, streamlined process for brokers Ephraim Vecina other Submitting referrals for the bank's protection plans is now more efficient TD has announced a new process for brokers with an enhanced digital referral system for its TD …

Canada had a total reverse mortgage volume of $6B as of Q1 2022

2022-08-03

Reverse mortgage boom could be on the way, report suggests Fergal McAlinden other Strong growth potential also comes with heightened risk The reverse mortgage market in Canada still lags behind those of other countries including Australia a…

Metro Vancouver home sales down again in July | REBGV

2022-08-03

Home sales continue to slump in Metro Vancouver, Fraser Valley in July Tiffany Crawford The Vancouver Sun   The Real Estate Board of Greater Vancouver says only 1,887 homes were sold in July, a 43.3 per cent decrease compared with the …

Home buyers are exercising more caution in today's market in response to rising interest rates and inflationary concerns | REBGV

2022-08-03

Home buyer demand continues to ease across Metro Vancouver REBGV Staff REBGV   Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale. The R…

Average home prices actually rose marginally on a monthly basis in June | TD Report

2022-08-03

Newfoundland housing market - whats happening? Fergal McAlinden other The province is unlikely to see significant home price depreciation, St. John's broker says   It’s a market whose pace over the past two years could be describ…

Residential sale values across Toronto having fallen by 3.3%

2022-08-02

Economists highlight the Toronto housing market's 2022-23 prospects Ephraim Vecina other Some disturbing trends are already apparent, market observers warn While demand will remain robust, the Toronto housing market should brace for conside…

Victoria plans to build an 18-storey tower with 180 rental units of affordable housing

2022-08-02

Victoria developer donates $15 million in land for social housing Darron Kloster Western Investor ‘Once-in-a-lifetime’ donation will help develop 180 affordable homes by 2027   Developers behind plans for a large mixed-used…

The 5 most affordable place to live in B.C. in 2022

2022-08-02

Five B.C. towns where you can buy a home for $500,000 Shawn Conner The Vancouver Sun Here are five contenders based on supply, variety and a price tag hovering around $500k.   The City of Nanaimo is situated on the east coast of Vancou…

BoC raises its interest rates to 2.5% since 1998

2022-07-31

Bank of Canada Posts Largest Rate Hike in More Than 20 Years CREA Staff BCREA   The Bank of Canada recently hiked its target for the overnight lending rate to 2.5%, the largest rate increase since August 27, 1998. With inflation persis…

B.C. announces 3-day cooling period to allow buyers to conduct due diligence on the property

2022-07-29

Has BC's cooling-off legislation arrived at the wrong time? Fergal McAlinden other Homebuying activity is expected to moderate further before the measure's introduction   British Columbia’s latest steps to enhance consumer protec…

GTA average rent reaches new high in Q2 as competition heats up

2022-07-29

GTA residential rent surges Ephraim Vecina other The region is seeing rapidly intensifying competition, industry board says The Greater Toronto Area’s average rent has reached a new high in Q2 amid intensified competition, according t…

19,227 sqft multi-family sells for $7.5 Million located in 14333 104 Avenue, Surrey

2022-07-29

18 hotel strata units in Surrey, B.C. sell for $7.5 million Western Investor Staff Western Investor ‘Extended stay’ hotel suites, meant for rentals for up to six months, cover entire floor of Guildford-area property Willam Wrigh…

Canadians' ultimate ambition to own a home appears undimmed

2022-07-29

Canadians' homebuying enthusiasm remains strong: report Fergal McAlinden other News arrives despite growing concerns over interest rates Even despite the affordability challenges of recent times – not to mention the current rising-int…