Real Estate News & Articles

140-acre industrial development site in Abbotsford

2022-11-18

Abbotsford 140-acre industrial park given greenlight Western Investor Staff Western Investor The new Xchange Business Park will be developed along Mt. Lehman Road, Abbotsford. | QuadReal Property Group A new 140-acre industrial development …

1.2-acre residential development site in East Vancouver sold in October for $23.8 Million

2022-11-18

Residential land still seeing eye-popping prices Frank O'Brien Western Investor  Even as B.C. home prices decline, Metro Vancouver and Vancouver Island developers appear willing to pay millions of dollars per acre for residential assem…

B.C. supplies are also being hit hard by extreme weather

2022-11-17

Drought, dwindling number of farms cut into Christmas tree supply Darron Kloster Times Colonist Christmas tree farms are vanishing — from 500 a decade ago to about 400 now — as owners retire and sell off their land, while suppli…

Canadian home sales edge a bit higher from September to October

2022-11-16

Canadian housing sales 'popped up' in October: CREA Western Investor Staff Western Investor Latest data from the Canadian Real Estate Association shows sales downturn may be ending early, though composite home price is down nearly 10 per ce…

1,630 square feet industrial strata in Port Coquitlam sells for $1.242 Million

2022-11-16

Port Coquitlam industrial strata sells for twice its assessed value Western Investor Staff Western Investor The 1,630-square-foot unit attracted multiple offers and sold for $1.24 million on October 31, 2022   NAI Commercial, Vancouver…

Canadian housing prices decline in 2022 since BoC began introducing interest rate hikes

2022-11-16

Ontario Cities Ranked: Most and Least Competitive Real Estate Markets in 2022 Daniel Crook ZOOCASA Housing prices in Canada have steadily declined this year since the Bank of Canada began introducing interest rate hikes. The record price hi…

Canadian home sales increase 1.3% in October

2022-11-15

Canada home sales rise in October Fergal McAlinden CMP The news marks their first increase in eight months Home sales across Canada rose by 1.3% in October, the first time that they have increased on a monthly basis since February. The Cana…

B.C.'s residential real estate market, as sales slump, active listings plateau and average prices dip

2022-11-15

Cooling trend continues in B.C.'s residential real estate market Lisa Steacy CTV News High interest rates are continuing to have a cooling effect on B.C.'s residential real estate market, as sales slump, active listings plateau and average …

Economists predict the pace of price growth will remain unchanged or even bump higher

2022-11-15

Why Canada's inflation rate could go higher, not lower, in tomorrow's data Stephanie Hughes Financial Post And what a higher number might mean for the Bank of Canada Inflation in Canada is expected to have been driven higher in October by a…

0.6 acres multi-family rental in Victoria sells for $13 Million

2022-11-15

Victoria 43-unit apartment building sells for $13 million ask Western Investor Staff Western Investor Starlight Acquisitions paid full list price for the multi-family property on a 0.6-acre site in the James Bay neighbourhood Colliers, Vict…

In Canada, recessionary periods can devalue property by 6.1% on average | OECD

2022-11-14

What does a recession mean for homebuyers? Jonathan Russell CMP A recession usually signals volatility in the housing market. While experts agree the current market is unlikely to lead to another Great Depression, it is likely to continue i…

Sales activity remains slow across the province and inventories appear to be plateauing | BCREA

2022-11-14

B.C. real estate: Housing sales slump, but prices not declining in all markets Joanne Lee-Young The Vancouver Sun The steepest sales decline occurred in Chilliwack (61%), followed by the Fraser Valley, where sales dipped 54%. Greater Vancou…

Q3 of bitcoins and ether's value has evaporated over the past 12 months

2022-11-14

Cryptocurrency blowout shows disruption fuelled by easy money often only disrupts your portfolio Martin Pelletier Financial Post Martin Pelletier: The old saying, 'often the best trade is the one you don’t make', comes to mind This pa…

Victoria's labour force increased by 4.8 per cent to 225,600 between October

2022-11-11

Victoria construction boom underlines CRE strength Andrew Duffy Western Investor With commercial properties flirting with the highest demand and prices in the country, developers and builders are scrambling to keep up Work continues on the …

Presale pricing on Pacific Ridge Business Centre begins at $460 a square foot

2022-11-10

Coquitlam industrial strata project bucks headwinds as buyers line up Peter Mitham Western Investor But strong demand for lease product prompts some developers to shift focus IntraUrban Eagle Ridge, a 149,000-square-foot strata industrial p…

Edmonton real estate market has experienced a cooldown in sales volume this fall

2022-11-10

Edmonton Condo Prices On the Upswing As Demand Surges for More Affordability Peter Mitham ZOOCASA The Edmonton real estate market has experienced a cooldown in sales volume this fall after a relatively strong summer, driven by strong oil pr…

Development of a four-storey housing complex offering 40 affordable rental homes at 571 Shaw Road

2022-11-09

$15m funding announced for more BC housing supply Ephraim Vecina other A new affordable housing complex is set to arise in Gibsons, BC Federal and provincial governments have announced an investment of over $15 million to construct a new tr…

Calgary region now has a tight industrial vacancy rate of 2.2 per cent

2022-11-09

Cadillac Fairview, Hopewell acquire 146-acre Calgary industrial park Western Investor Staff Western Investor Joint venture eyes future development of 2.3 million square feet of industrial at the Rosemount Business Park in Balzac Cadillac Fa…

Unprecedented sale and price increases since the pandemic began two years ago

2022-11-09

B.C. home sales to fall a further 11.4 per cent in 2023: BCREA Frank O' Brien Western Investor Real estate association forecast says record-setting market is “unwinding” British Columbia home sales will fall 34.4 per cent t…

Hoteliers looking to build on the lessons of the past three years as a recession looms

2022-11-09

B.C. hotel operators hopeful after successful season Peter Mitham Western Investor Despite labour shortages, cost pressures and a still-slow conference trade, rising occupancies and revenues point to a “remarkable recovery “ &nb…

Owners of Vancouver-area homes with a median value of $3.7 million pay income taxes of just $15,800

2022-11-09

Douglas Todd: Luxury homeowners in Metro Vancouver pay low income taxes, says UBC study Douglas Todd The Vancouver Sun Analysis: The owners of Greater Vancouver homes with a median value of $3.7 million pay income taxes of just $15,800 &nda…

Activity remains well below pre-pandemic levels in most markets

2022-11-08

RBC: Prolonged housing market deceleration in the offing Ephraim Vecina other The central bank's rate hikes served as significant headwinds to the market this fall All current signs are pointing to a “generally soft” market over…

10 multi-family rental in Kerrisdale sells for $4.08 million

2022-11-08

Kerrisdale 10-unit multi-family rental sells for $4 million Colliiers Vancouver for Western Investor Western Investor Apartment building in the heart of Vancouver's Kerrisdale sold unconditionally for $408,000 per suite at a 2.35 per cent c…

The impact of the constricted financial condition

2022-11-08

Affordability challenges show little sign of easing, says banking giant Ephraim Vecina other Pandemic savings will only partly mitigate the impact of reduced purchasing power, according to economist Borrowing costs across North America are …