Real Estate News & Articles

Canada's housing market since 2001 as affordability challenges continue to weigh on homebuying activity

2023-01-10

2023 to see weakest home sales levels for 22 years: TD Fergal McAlinden CMP "Even if activity does bottom in the next few months, sales levels should remain depressed"This year will likely see the weakest sales year for Canada’s housi…

Vancouver Island sees 10% to 20% increase in property valuations, according to B.C. Assessment

2023-01-10

Strong demand continues for industrial space on Vancouver Island Andrew Duffy Western Investor 'We’ve seen a strong road to recovery for industrial and commercial properties across the Vancouver Island region’ says Jodie MacLenn…

The strong headline readings raises the probability of another 25bp hike at the Jan. meeting

2023-01-09

How will the labour market likely influence BoC rate moves? Ephraim Vecina CMP Industry observers weigh in on the dynamics between employment and interest rates Canada’s stronger labour market performance in December might increase th…

Canadian mortgage industry's most prestigious awards ceremony is returning for 2023

2023-01-09

Canadian Mortgage Awards: Nominations close on Friday Fergal McAlinden CMP Make sure to get your nominations in ahead of the January 13 deadline The Canadian mortgage industry’s most prestigious awards ceremony is returning for 2023 &…

VICI Properties acquires four Canadian Gaming Properties in sale leaseback transaction with Pure Canadian Gaming Corp.

2023-01-09

Pure casino portfolio in Alberta bought for $271.9 million Frank O'Brien Western Investor Sale-leaseback deal sees U.S.-based Vici Properties REIT acquire all of Pure’s Alberta real estate assets The 72,000-square-foot Pure Casino Edm…

Romspen Investment Corp. of Toronto, Bowra suspended the SISP "until the building permit issue is resolved"

2023-01-09

Sale of troubled Atmosphere project in Richmond put on hold Peter Mitham Western Investor New building permit required to secure best value for the assets A bid to sell the troubled Atmosphere project on Alderbridge Way and No. 3 Road in Ri…

Canada's biggest challenge going forward won't be job losses in the oilpatch | Jonathan Wilkinson

2023-01-06

Natural resources minister defends plan to transition to green economy Sheena Goodyear CMP Natural Resources Minister Jonathan Wilkinson has announced new legislation will be coming this year to help transition oil and gas workers into gree…

Canadian economy adds 104,000 jobs in Dec, unemployment rate falls to 5.0%

2023-01-06

Canadian economy sees December jobs surge Fergal McAlinden CMP The unemployment rate ticked downwards for the third time in four months Canada’s economy saw 104,000 jobs added in December and a slight fall in the unemployment rate to …

Calgary's real estate activity and prices have grown compared to pre-pandemic levels

2023-01-06

Calgary Finishes 2022 Strong with Price and Sales Growth: CREB Abbey Cole ZOOCASA Despite an annual downward trend from peaks seen earlier in the year, December’s benchmark price of $518,800 is 8% higher than last year, and overall, p…

BC's increase supply in 2023 to meet housing and immigration targets

2023-01-06

Delivering new Metro Vancouver rentals now next to impossible Claire Wilson Western Investor Changes will be needed in 2023 to accommodate high costs, interest rates and competitive government programs to meet immigration and housing target…

Bank of Canada began to raise interest rates in March whether prices continue to fall in 2023

2023-01-06

The question after a tough 2022: How much further do real estate prices have to fall? Shantae Campbell The Vancouver Sun

30,000 sqft industrial in Edmonton sells for $15 Million

2023-01-06

Edmonton Aurora Polaris cannabis facility sold for $15 million Western Investor Staff Western Investor Built for $50 million four years ago, the 30,000-square-foot grow-op and distribution centre was closed and sold in an off-market deal Au…

10 acres of vacant industrial land in Manitoba sells for $2.8 Million

2023-01-06

Headingley, MB,10 acres of industrial fetches $2.8 million Western Investor Staff Western Investor The fully serviced parcel of vacant industrial land was sold to a trucking company 'Westport' parcel on map, courtesy of Shindico Realty, Win…

10.23 acres industrial land in Monitor sells for $5.11 Million

2023-01-06

10.2 acres of CentrePort industrial sells for $5 million Western Investor Staff Western Investor Assembly of three vacant lots in CentrePort Canada, Rosser, Manitoba, the site is close to major highways and Winnipeg’s International Ai…

Pent-up demand for travel is fuelling hoteliers growth plans despite ongoing fears of a recession in 2023

2023-01-05

Vancouver hoteliers pursue growth despite recession fears Peter Mitham Western Investor Strong leisure demand drives expansion plans across North America ancouver-based Coast Hotels added five properties to its portfolio in 2022, including …

Metro Vancouver on track for strong but not record-breaking performance in 2022

2023-01-05

Greater Vancouver investment deals stalled in third quarter Peter Mitham Western Investor Metro Vancouver deals slow but stabilizing interest rates offer hope Wesgroup’s $152.8 million purchase in September of the Coronation Park site…

1.03 acres townhouse development sells for $3.2 Million located at Coquitlam, B.C.

2023-01-05

Coquitlam, B.C., one-acre townhouse site sells for $3.2 million Western Investor Staff Western Investor The Burke Mountain land has a pre-application for residential development in the Smiling Creek neighbourhood plan. Frontline Real Estate…

BoC's increase the policy rate at seven of the eight interest rate announcement dates in 2022 | Andrew Lis

2023-01-04

Vancouver market takes 'wait and see' approach as Dec. sales fall 52% from year ago The Canadian Press The Vancouver Sun The board attributed the decreases to the market experiencing "a year of caution" caused by rising borrowing costs and …

Canada added more than 431,000 new permanent residents in 2022

2023-01-04

How many new immigrants came into Canada last year? Ephraim Vecina CMP Feds reveal the volume of new arrivals into Canada Canada added more than 431,000 new permanent residents last year, marking its largest ever annual increase and exceedi…

Housing sales in B.C. in 2022 down 50% compared to a year earlier | BCREA

2023-01-04

Cooling off period comes to coldest housing market in years Frank O'Brien Western Investor Effective January 3 ,2023, a B.C. homebuyer has three business day to cancel a sales agreement   Amid B.C.’s coldest housing market in yea…

Despite the sharp drop in sales, benchmark prices remained stable in December | REBGV

2023-01-04

Vancouver homebuyers prove willing, but listings are weak Frank O'Brien Western Investor Housing sales accounted for more than 100 per cent of new listings added in Greater Vancouver during December Benchmark condo apartment prices ended 20…

Demand and home prices hit new highs, before abruptly turning in the opposite direction in response to higher mortgage interest rates

2023-01-03

Here Are the U.S. Cities Where Home Prices Rose and Fell the Most in 2022 Evan Wyloge other By any definition, 2022 was one wild, white-knuckle roller coaster of a year for real estate. Demand and home prices hit new highs, before abruptly …

HELOC load just one sign of the "extreme level" of indebtedness that currently characterizes the Canadian financial system | David Rosenberg

2023-01-03

How large is Canada's current HELOC load? Ephraim Vecina CMP OSFI releases latest HELOC data The value of loans secured by housing in Canada continued to go up with a 0.1% monthly uptick and a 9.6% increase to reach $308.9 billion in Octobe…

Blackwater construction team has made significant progress in Q4 2022

2023-01-03

B.C.'s Blackwater Gold mine construction to start this spring Nelson Bennett Western Investor Blackwater Gold mine near Vanderhoof will start in the first quarter, despite permit delay Work camp to be expanded to accommodate 475 workers. | …