Real Estate News & Articles

0.7 acres retail in Gaston area sells for $2.7 million

2022-07-07

Gastown-area 3,050-square-foot retail site sells for $2.7 million Re/Max Commercial Advantage Western Investor East Cordova Street, Vancouver, site purchased as strategic acquisition for future land assembly. Property type: Retail Location:…

Toronto home price fell 3% in June, 11% since February | TRREB

2022-07-06

Toronto home sales plunge 41% amid glut Ari Altstedter Bloomberg   Toronto home prices dropped for a fourth straight month and sales tumbled as rising bor­row­ing costs rap­idly cool demand for prop­er­ties in Canad…

Residential mortgage debt in Canada climbed by 9% in 2021 over the previous year | CMHC

2022-07-06

Residential mortgage debt continues to surge, says CMHC Residential mortgage debt in Canada climbed by 9% in 2021 over the previous year | CMHC Fergal McAlinden other The government body has published its latest report on mortgage industry …

Vancouver proposes huge condo-rentals-social housing development at north end of Granville Bridge

2022-07-05

Vancouver proposes huge housing development at north end of Granville Bridge Susan Lazaruk The Vancouver Sun

The median price for all housing types across Metro Vancouver fell by 13.5% to $889,000 in June

2022-07-05

Home sales plummet in Metro Vancouver as buyers adjust to interest rate hikes Joanne Lee-Young The Vancouver Sun Prospective buyers are now being forced to weigh the positive impact of falling prices against the negative impact of rising in…

BoC triggering a recession through interest rate hikes is "high"

2022-07-05

Bank of Canada rate hikes could cause recession, says economist Fergal McAlinden other Central bank "using a very blunt instrument to attempt to bring prices down"   The risk of the Bank of Canada triggering a recession through interes…

Ontario Teachers' announces completion of its acquisition of HomeEquity Bank

2022-07-04

Ontario Teachers' completes HomeEquity acquisitio Fergal McAlinden other A leading company in Canada's mortgage space is under new ownership company of reverse mortgage giant HomeEquity Bank, has been completed. The acquisition, first annou…

10,032 square feet industrial in Delta sells for $6.45 Million

2022-07-04

Delta warehouse/office sells for more than $640 per square foot Western Investor Staff Western Investor Well-maintained complex of 10,032 square feet in Tilbury Industrial Park trades at $6.45 million William Wright Commercial, Vancouver, f…

9,108 square feet mixed-use strata rental in New Westminster sells for $5.6 Million

2022-07-04

New West 20-unit mixed-use strata rental sells for $5.6 million Avison Young Western Investor Geordie Place includes 16 residential strata units and four commercial strata units on a corner lot in New Westminster, B.C. Avison Young, Vancouv…

OSFI implement stricter requirements for some types of loans to protect homeowners

2022-06-29

Canada tightens rules on riskiest mortgages Ephraim Vecina other OSFI rules are intended to protect Canadians from systemic banking risks   The Office of the Superintendent of Financial Institutions (OSFI) has announced that it will be…

New stress test level makes it harder to qualify for a mortgage in Canada

2022-06-29

Mortgage stress test change what's been the impact? Fergal McAlinden other

Vancouver's industrial market is just blistering white hot | Susan Thompson

2022-06-25

"White hot" market sends industrial lease rates skyward Peter Mitham Western Investor Rising interest rates could slow new industrial strata projects PC Urban and Nicola Wealth plan to build strata industrial units at 2660 Barnet Highway in…

Downtown office vacancy rate hit 7.4% Q2 in 2022

2022-06-24

Tech companies drive downtown office demand in active market Tyler Orton Western Investor Downtown office vacancies were 7.4 per cent in the second quarter of 2022, according to Colliers data Renting office space in downtown Vancouver is mo…

REBGV: Land remain the strongest asset class in the region in Q1

2022-06-24

Real estate investment sales surge 60 per cent in first quarter Peter Mitham Western Investor Supply chain issues, geopolitical events create an uncertain outlook Rising interest rates are among the headwinds commercial real estate faces th…

Canada needs 3.5 million more homes by 2030 to ensure affordability | CMHC

2022-06-24

CMHC: Millions of additional housing units needed to ensure affordability Ephraim Vecina other Ongoing challenges in the construction industry could get in the way of this target As many as 3.5 million more homes than the currently outlined…

Canadian bank stocks fall 20% from highs record

2022-06-24

Canadian banks sink amid recession fears Stefanie Marotta other There has been a staggering drop… Canadian banks fell about 20% from their record high set in early February as recession fears send investors fleeing. The S&P/TSX C…

Halifax registered its largest monthly increase in new home sales

2022-06-23

StatCan on the national impact of Halifax housing activity Ephraim Vecina other The market is benefiting from increased migration and relative affordability Halifax housing demand is a major factor driving national home sales upward, accord…

CMHC identified supply as "the biggest issue affecting housing affordability"

2022-06-23

Canada needs 3.5 million more homes than planned to restore affordability, says CMHC Barbara Shecter The Vancouver Sun 'Drastic transformation' of housing sector called for   Homes in a neighbourhood in Toronto. Canada Mortgage and Hou…

Carbon emissions have been described as 'the blind spot' of the building industry | Paul Morris

2022-06-23

Douglas Todd: The hidden climate costs of B.C.'s burgeoning highrises, Part II Douglas Todd The Vancouver Sun Opinion: One study showed a neighbourhood of highrise towers would create 142 per cent more carbon emissions than a Paris-like low…

1.51 acres industrial property in Alaska Rd. Sells for $3.85 million

2022-06-23

Fort St. John industrial property sells $1.4M above assessment Nai Commercial Western Investor The 13,000-square-foot building on a 1.5-acre lot was custom built for a single tenant in Fort St. John, B.C. Property type: Industrial Location:…

0.82 acres retail in Burnaby sells for $9.3 million

2022-06-23

Burnaby single-tenant drive-thru sells for $9.3 million Marcus & Millichap Western Investor A&W drive-thru restaurant is on a 36,000-square-foot lot on Kingsway Avenue, Burnaby, B.C., with development potential. Property type: Retail Lo…

Grosvenor acquires Oakridge transit centre plans to begin redevelopment in 2025

2022-06-23

Grosvenor acquires Oakridge transit centre site Peter Mitham Western Investor Redevelopment set to begin in 2025 on first of four phases Grosvenor has acquired the former Oakridge transit centre with plans to begin redevelopment in 2025.Gro…

Lower Mainland's commercial real estate market saw a steady pace of sales in the Q1 2022

2022-06-23

Lower Mainland's commercial real estate market begins 2022 with steady sales and higher prices REBGV Staff REBGV   Coming off near-record activity in 2021, the Lower Mainland’s commercial real estate market saw a steady pace…

Minimum mortgage stress test rate climb to 7% or higher | John Lusink

2022-06-22

Poll: Most Ontarians sceptical of their homeownership prospects Ephraim Vecina other Rising mortgage rates are a significant factor impeding Canadians' plans More than half of Ontarians (57%) indicated a belief that they might never be able…