Real Estate News & Articles

HBC to close $200m mortgage, consider sale of Vancouver flagship

2017-10-31

Steve Randall Canadian Real Estate Wealth Hudson’s Bay Co (HBC) is considering the sale of its flagship Vancouver store at 674 Granville Street. The company said Monday that its joint venture with RioCan Real Estate Investment Trust h…

Will OSFI regulations really strip consumers of choice with mortgage stress test?

2017-10-31

Neil Sharma Mortgage Broker News The Office of the Superintendent of Financial Institutions has been repeatedly excoriated by mortgage industry veterans for its intervention, but not everybody believes the lending regulations will spell doo…

Park Hill 20087 68th Avenue Langley 145 homes in a 4 storey building by Forewest Construction

2017-10-31

Living Urban and Rural at Park Hill REW In the heart of Willoughby, a new urban-rural lifestyle is emerging. Located on a quiet residential street, Forewest Group’s Park Hill combines the tranquility and comfort in a rural setting alo…

New home sales down 48% in the GTA last month

2017-10-30

New home sales halved in the GTA last month Steve Randall REP Sales of new homes were down 48% in the Greater Toronto Area compared to a year earlier as low- and high- rise sectors saw large declines. High-rise sales fell 37% to 1,749, 3% b…

The Canadian Mortgage and Housing report says affordability at heart of issues

2017-10-30

CMHC releases market outlook Neil Sharma REP The Canadian Mortgage and Housing Corporation released its Housing Market Outlook report, and affordability remains at the heart of issues plaguing Canada’s largest city. However, price gro…

Report highlights next year's real estate trends

2017-10-30

Neil Sharma Canadian Real Estate Wealth Housing affordability continues to dominate the conversation in the Greater Toronto Area’s housing market. A new report released by the Urban Land Institute in conjunction with PwC, called Emerg…

City of Vancouver reveals preliminary design plans for Arbutus Corridor Streetcar

2017-10-30

Kenneth Chan other The streetcar running along the Arbutus Corridor east of Quilchena Park at West 33rd Avenue. (City of Vancouver) A City of Vancouver planning document showing the preferred streetcar route at the area where the Arbutus Co…

Viridian 3618 150th Street Surrey 57 townhomes by Portrait Homes

2017-10-28

Quality on offer at Viridian ? Portrait Homes? 57-unit townhome development in South Surrey Simon Brault The Vancouver Sun Viridian Project location: 3618 150 th St., Surrey Project scope: 57 homes, 2-3 bedrooms, 2,226 – 2,486 sq. ft.…

Canadian housing market still highly vulnerable says CMHC

2017-10-27

Steve Randall Canadian Real Estate Wealth Moderate overvaluation and price acceleration continue to concern the CMHC which said Thursday that the Canadian housing market remains “highly vulnerable”. In two reports, the agency sa…

Last week's OSFI Mortgage Rule Announcement has an impact, but not enormously dramatic.

2017-10-26

David Ford other Whenever OSFI is “considering” anything, it’s happening. Let’s be very alert not to hit the panic button. All this change does is level the playing field between qualifying for a Variable Rate and qu…

Stress Test - Government adds new qualifying requirements for uninsured mortgages

2017-10-26

OSFI is reinforcing a strong and prudent regulatory regime for residential mortgage underwriting other Effective January 1, 2018, home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or mor…

Bank of Canada keeps key rate on hold on souring NAFTA talks, high household debt levels

2017-10-26

BoC keeps key rate on hold amid fears over strained NAFTA talks, rising debt Jesse Snyder The Vancouver Sun The Bank of Canada’s decision on Wednesday to maintain its current overnight rate is led by fears over high household debts an…

Crimson at Cloverdale Village: Historical setting meets modern living

2017-10-26

Development reflects old-world charm yet built according to 21st century standards ROBIN BRUNET The Province The new Crimson at Cloverdale Village townhome project by RDG Management Ltd. is aptly being described as “small-town charm, …

Strata council should review all decisions

2017-10-26

Manager, council at odds over contracts Tony Gioventu The Province Dear Tony:    Our strata council is having a power struggle with our strata manager.  We have had the same manager for six years and have been pleased with he…

Green on Queensbury 707 - 747 East 3rd Street North Vancouver 164 condos and townhomes in 3 four storey buildings by Qualex-landmark

2017-10-26

North Vancouver's Green on Queensbury to take its place overlooking five acres of parkland Mary Frances Hill The Province Green on Queensbury What: 164 one-, two- and three-bedroom condominiums and townhomes in three four-storey buildings o…

Interest rates held, economists react to dovish BoC

2017-10-26

Steve Randall Canadian Real Estate Wealth The Bank of Canada held interest rates steady at 1% and signalled a cautious approach to future rate rises. The bank is forecasting a continued rise in inflation, reaching 2% in the second half of 2…

CRA analyzing nearly 3,000 condo flipping cases in Toronto

2017-10-26

Ephraim Vecina Mortgage Broker News The Canada Revenue Agency is analyzing 2,810 transactions involving cases of pre-construction condominium flipping in Toronto to determine whether audits need to be carried out to find tax evaders. In the…

Vancouver downtown office vacancies at 4-year low

2017-10-26

Steve Randall REP New figures reveal that the office inventory in Downtown Vancouver is at its lowest rate since the second quarter of 2013. CBRE says that the vacancy rate in the third quarter of 2017 was just 5%, the second lowest in Nort…

$17.8m 'Opportunity to Renovate' Listed in First Shaughnessy

2017-10-26

Priciest new Greater Vancouver listing of last week is a grand, 1912-built fixer-upper on a large lot Joannah Connolly REW This grand, 105-year-old mansion in Shaughnessy was listed October 22, 2017 for $17.8m ? Listing agent: Jeff Benner, …

Should We Follow New Zealand's Foreign Buyer Ban?

2017-10-26

Prime Minister-elect imposes blanket ban for non-resident buyers - but will it help curb runaway home prices? Joannah Connolly REW New Zealand's desirable capital, Wellington, saw home prices rise 18% between 2016 and 2017 New Zealand&rsquo…

Home ownership rates take historic dip as more Canadians opt to rent

2017-10-25

Jordan Press Canadian Real Estate Wealth Not everyone wants to own a home these days, Evan Siddall concedes, not even his own millennial-age son. For the head of the Canada Mortgage and Housing Corp., that's really saying something. But Sid…

Bank of Canada holds rate, suggests more hikes likely at more cautious pace

2017-10-25

Andy Blatchford REP The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace. In its scheduled announcement, the cen…

Lookout the Chinese are back in 2018 - 1.4M 10 year visas issued by Canada

2017-10-25

Chinese real estate investment slowdown likely short-lived MICHAEL BERNARD The Province The Chinese government crackdown on capital flight from that country has combined with the 15 per cent foreign buyers’ tax on residential properti…

Western Canadian commercial real estate trends

2017-10-24

Neil Sharma Canadian Real Estate Wealth Greater Vancouver has seen a major drop in commercial sales over the last year, but not for lack of demand, as the supply is seriously constrained compared to last year’s available inventory, ac…