Real Estate News & Articles

Canada's eight largest lenders, drop 3.8% since June 2022

2022-07-15

Canada's banks battered by recession fears Stefanie Marotta other It's the biggest drop in more than two years   Canadian bank stocks slid the most in more than two years as the first round of earnings from US lenders weighed on the ou…

CMHC expects housing values will remain elevated despite the price drops in both scenarios

2022-07-15

CMHC expects 5% decline in home prices by 2023 if interest rates spike Stephanie Hughes other But prices will not collapse, says housing agency   The CMHC report predicts home prices will fall five per cent if the Bank of Canada raises…

405 units multi-family tower in Burnaby sells for $184.9 Million

2022-07-15

City of Burnaby, BC Housing buy two co-ops for $184.9 million Western Investor Staff Western Investor Two multi-family towers with a total of 405 units will remain as co-operative housing 4221 Mayberry Street, Burnaby. BC Housing for Wester…

Westbank and Squamish nation to build 6000 units next to Burrard Bridge

2022-07-15

'This is just the beginning': First Nations' real estate mega projects game-changing for Metro Vancouver Dan Fumano The Vancouver Sun Indigenous developers to build 25,000 new homes in Metro Vancouver   Wilson Williams is an elected co…

Buyers qualify both primary and secondary residences at 2%, without rental income | Deb White

2022-07-15

Rules are different when buying your second home Shawn Conner The Vancouver Sun What buyers should know before financing a recreational property It's important to know the local short-term rental bylaws when purchasing a recreation property…

Home prices posted their largest monthly decrease | CREA

2022-07-15

Canada home prices see biggest drop since at least 2005 Fergal McAlinden other Another significant monthly decline was posted in June   Canadian home prices posted their largest monthly decrease since at least 2005 in June, according t…

Canadian home sales fall by 5.6% between May and June 2022

2022-07-15

Canadian home sales down again in June, but declines are getting smaller CREA Staff BCREA Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in June 2022.   HIGHLIGHTS National h…

BoC raises key interest rate to 2.5%, compared with 1.75% ahead of the COVID-19 recession

2022-07-14

Bank of Canada issues shock rate hike in effort to crush inflation Kevin Carmichael other   Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa The Bank of Canada delivered a jolt to Bay Street, raising its b…

Property management firm in Vancouver sells for $720,000

2022-07-14

Veteran Vancouver property management firm sold Tribe Property Technologies Inc. Western Investor Martello Property Services Inc., founded in 1988, purchased by Tribe for $720,000 Property type: Property management firm Location: Vancouver …

Bank's policy rate had grown after Canada's inflation rate recently hit a 39-year high

2022-07-13

Bank of Canada announces huge rate hike Fergal McAlinden other The central bank's rate increase is even higher than had been widely anticipated The Bank of Canada has announced a supersized rate hike, increasing its policy rate by 1% in a b…

Banks policy rate had grown after Canadas inflation rate recently hit a 39-year high

2022-07-13

Bank of Canada announces huge rate hike Fergal McAlinden other

Canadian home price expected to drop 19% by 2023

2022-07-13

Will there be a Canada housing market crash? Fergal McAlinden other TD economist outlines what the future holds TD’s latest Provincial Housing Market Outlook, released at the end of June, projected that home prices in Canada are set f…

BoC raises key interest rate by 1 percentage point, the biggest increase since 1998

2022-07-13

Bank of Canada interest rate hike turns up heat on Metro Vancouver rental market Derrick Penner The Vancouver Sun "The Vancouver market was already in crisis. This (rate increase) just heightens it even more." - Paul Danison, content direct…

Canada needs 3.5M additional homes to achieve any level of affordability | CMHC

2022-07-13

Peter McCartney: Millions of new homes could make or break response to climate crisis Peter McCartney The Vancouver Sun Opinion: Regulators need to be willing to set strict green building codes that come into effect now, not after these mil…

Bank of Canada has raised its benchmark interest rate from 1.5% to 2.5%

2022-07-13

What the Bank of Canadas' full percentage point hike means for the housing market and your mortgage Stephanie Hughes The Vancouver Sun Surprise 100-basis-point increase will likely put the squeeze on homeowners' budget The Bank of Canada ha…

Colliers looks at 13 areas in Vancouver to understand why vacancy rates are low

2022-07-12

Demand for retail space is bouncing back in some Vancouver neighbourhoods: report Joanne Lee-Young The Vancouver Sun Louwella Malda and Kyle Roberts launched The Filipino Noodle Joint in a mall on Keefer Street in Chinatown that has one of …

The surging popularity of variable-rate mortgages continue in the second half of 2021

2022-07-12

No cause for panic on variable rates, says industry expert Fergal McAlinden other Variable rates are expected to increase again after Wednesday's Bank of Canada announcement The surging popularity of variable-rate mortgages continued in the…

BoC increases policy interest rate by 75 basis points

2022-07-11

Bank of Canada decision: What's next for the fixed-vs-variable debate? Fergal McAlinden other Interesting developments could be ahead on a prominent debate in the industry   The Bank of Canada’s next policy rate announcement, sch…

Investors are definitely "taking a hard look at their costs" when making investments | Jill Earthy

2022-07-08

Province's tech sector braces for downturn Derrick Penner other American companies are getting hit hard, especially those involved in cryptocurrency Sauder School of Business economist Werner Antweiler views the upheaval happening in techno…

Shangri-La tower used a real estate appraiser to assess how the market value was affected by the problem

2022-07-08

Affidavits for Shangri-La tower class-action lawsuit examine market values Joanne Lee-Young The Vancouver Sun The case began in December 2015 when the lead plaintiff filed a notice of civil claim, alleging that defective glass windows were …

RBC predicts Canada heading moderate and short-lived recession in 2023

2022-07-08

Canada recession: It's coming, RBC predicts, but how long will the downturn last? Salarino Ho other Canada is headed towards a moderate recession, but the economic contraction is expected to be short-lived compared to previous recessions, e…

After 1,000 columns, some common issues that prevail in the industry

2022-07-07

Condo Smarts: Tony Gioventu pens 1,000th column on strata life Tony Gioventu The Vancouver Sun Weekly Homes columnist began helping readers with strata-living issues in November, 2002 Tony Gioventu, executive director for the Condominium Ho…

Price of lumber near $1,200 per thousand board feet up nearly 250% since last April

2022-07-07

Could lumber prices fall even further? Fergal McAlinden other

5.27 acres industrial parcel in Penticton sells for $12.6 Million

2022-07-07

Penticton 5.27 acres with mini storage sells at full price Western Investor Staff Western Investor The industrial parcel, which includes 244 storage units and 13,000 square feet of commercial rental units, sold for $12.6 million. Green Real…