Real Estate News & Articles

Redevelopment plan for the Hudson's Bay building in downtown Vancouver

2022-02-24

Hudson's Bay downtown Vancouver site eyed for office tower Frank O'Brien Western Investor   Rezoning application will soon go to Vancouver city hall for ambitious redevelopment plan of century-old Granville Street location Iconic Hudso…

Pier West development a second "monolithic concrete pour" on New Westminster's waterfront

2022-02-24

Bosa set to pour foundation for 43-storey tower on New West waterfront Theresa McManus Western Investor Concrete pour planned for March   An architect’s rendering of the Pier West development that's under construction on New West…

5,500 square feet retail site in Kelowna sells for $5 million

2022-02-24

Kelowna 0.39-acre retail site sold for $5 million Royal LePage Kelowna Western Investor Prime corner development site on Harvey Avenue at Pandosy Street sold for full list price. Type of property: Retail Location: 430 Harvey Street (Hwy 97N…

Canada's deteriorating housing affordability situation | CMHC

2022-02-23

Canada rent prices - how are rates shaping up? Ephraim Vecina other The greatest increases were seen in the nation's largest markets  Housing affordability continues to deteriorate for Canadian tenants amid across-the-board increases i…

Miscommunication leads to wrong assumptions

2022-02-22

Signs installed advertising condos while tenants still living on Vancouver property Joanne Lee - Young The Vancouver Sun Tenants were caught off-guard recently when giant signs advertising The Cut, a new townhome development project, were s…

Home buyers have limited choice in the market today

2022-02-22

Pressure on Vancouver house prices continues Ephraim Vecina other The trend inflames competition, real estate industry association says A consistent dearth of supply applied upward pressure on home prices across Metro Vancouver in January, …

Rental demand increase faster with the return of economic growth

2022-02-22

Metro Vancouver's rental vacancy rate has been chopped in half Stefan Labbe Western Investor The region has the highest average rent in Canada with a two-bedroom unit at $1,824 and a two-bedroom condo at $2,498. Rental vacancy rate now 1.2 …

economic growth

2022-02-22

Metro Vancouvers rental vacancy rate has been chopped in half Stefan Labb Western Investor

Future of the work from home model due to pandemic

2022-02-22

How will a return to the office impact the mortgage market? Fergal McAlinden other Lenders could increasingly seek clarification on whether work-from-home arrangements are indeed permanent As Canada edges towards a tentative reopening and e…

Canada real estate market remains overheated despite interest rate hikes anticipated in 2022

2022-02-19

In an overheated real estate market, this Calgary development is a good investment Western Investor Staff Western Investor   Mission District land assembly already has excellent holding income A new, unique development opportunity is a…

Former tenant disputed her eviction and received additional $100

2022-02-19

Tenant awarded $22K after being evicted by B.C. landlord who didn't move in Andrew Weichel other   A B.C. woman who was unfairly evicted after a new landlord purchased the property she'd been renting for years has been awarded 12 month…

Vancouver's facing "significant challenges" finding units that they can afford

2022-02-18

Vancouver continues to be most expensive city in Canada to rent, as vacancy rates drop: reports Tiffany Crawford The Vancouver Sun A Rentals.ca report says last month the average rent for a one-bedroom home in Vancouver was $2,163 while a t…

Reza Sabour: Toronto is expected to enter the spring with "crazy pent-up demand"

2022-02-18

Toronto housing market set for turbulent spring Ephraim Vecina other The "tornado market" is showing no signs of stopping The Toronto housing sector is slated for a more expensive, more competitive spring market with an unprecedented scarci…

Bank of Canada will be forceful if necessary in using monetary policy tools

2022-02-18

Bank of Canada senior official on how soon rate hikes might take place Ephraim Vecina other The Bank of Canada is likely on track to hike interest rates in less than two weeks, according to a senior official. The central bank has scheduled …

Tight supply and strong demand pushed the median price of a home sold in January

2022-02-18

January home sales jump 6.7% despite a record low supply Diana Olick other Sales of previously owned homes in January rose 6.7% from December to a seasonally adjusted annualized rate of 6.5 million units, according to the National Associati…

High cost represent a significant blow for builders

2022-02-18

Lumber prices - will they continue rising? Fergal McAlinden other After cooling in January, the cost of the commodity is moving up again   It’s been a “wild ride” for lumber prices over the past year – and furth…

5 acres manufactured home park in Barriere sells for $1.17 Million

2022-02-17

Barriere, B.C., 18-pad manufactured home park sells for $1.17 million Bowman Group Realty Sutton Western Investor Park, on just over five acres with two-bedroom house, and potential of adding more pads, sold for $432,000 above the assessed …

Bank of Canada rate lift-off to turn down the market's heat in 2022

2022-02-17

RBC on how Canadian home sellers are faring Ephraim Vecina other The national market continues to see tight supply and mounting prices Sellers are currently in a stronger bargaining position in almost all Canadian housing markets, not just …

Increasing cost of real estate makes it difficult for millennials to afford their first home

2022-02-16

Breaking into the real estate market without breaking the bank Robin Brunet The Vancouver Sun WiiBid’s digital mortgage marketplace provides fast and convenient access to customized financing solutions at the lowest rates The majority…

Inflation hits 31-Year high in Canada

2022-02-16

Inflation surges to three-decade high, adding pressure on Bank of Canada to raise rates Kevin Carmichael other Kevin Carmichael: Inflation at this pace guarantees a raise in March and puts half-point hike in play Food prices at grocery stor…

Annual inflation in Canada rate hit 5% over 30-years

2022-02-16

Inflation hits milestone high in Canada Fergal McAlinden other StatCan revealed that the pace of inflation has shattered a 30-year record  The annual inflation in Canada rate hit 5.1% in January – the first time it has surpassed …

24,289 square feet industrial warehouses sells for $14.62 million

2022-02-16

Three Surrey warehouses totalling 24,289 square feet sell for $600 PSF Nationwide Realty Corp. Western Investor Trio of industrial properties in East Panorama business park sold for $14.62 million. Type of property: Industrial warehouses Lo…

Despite total sales in January falling 15 percent from a year early | BCREA

2022-02-16

B.C. home price $685,000 higher than average in Prairie provinces Western Investor Staff Western Investor At $1,042,169, the typical B.C. home is at least half-a-million dollars more expensive than anywhere else in Canada but Ontario T his …

36 storey condo located at 1499 West Pender Street, Vancouver

2022-02-16

Want to see what a $16.9 million condo looks like? Brendan Kergin Western Investor The condo is a penthouse in downtown Vancouver. What kind of condo could cost $16.9 million? In this case, it's a penthouse at the top of West Pender Place, …