Real Estate News & Articles

Boosting housing development in the province's far-flung areas

2022-11-08

Feds, NB government to fund affordable housing development organization Ephraim Vecina other Housing market challenges are especially pronounced in the province's rural areas, officials say The federal government and New Brunswick authoriti…

Most signs can be seen in the current debt-to-disposable-income ratios of both economies

2022-11-07

Burst housing bubble would be 'significantly worse' in Canada than US: economist Ephraim Vecina other Canadian market 'extremely exposed' on a relative basis Based on current trends, a housing bubble burst would be significantly worse in Ca…

Residential real estate values across B.C. have been falling since March 2022

2022-11-07

Only 10% of Vancouver detached homes sold in past week fetched over asking price Staff Reporter The Vancouver Sun Here's a look at the four Vancouver detached homes that sold for more than 10 per cent under asking File photo: A sold sign ou…

Canada's mortgage market surged at the onset of the COVID-19 pandemic

2022-11-04

Where are brokers focusing their attention as purchase market cools? Fergal McAlinden other More brokers getting training and coaching on mortgage creditor insurance, says executive   As Canada’s mortgage market surged at the ons…

Metro Vancouver cap rates are rising for the first time in nearly a decade

2022-11-04

Metro Vancouver real estate holds its ground despite challenges Peter Mitham Western Investor 'Period of adjustment' underway as the region's frenzied market normalizes The Stack at 1133 Melville Street is rounding out the current cycle of …

24,209 sqft. office retail in Parksville sells for $4.5 million

2022-11-03

Parksville 24,209-sq.-ft medical centre sells for $4.5 million William Wright Commercial Western Investor The Vancouver Island office-retail complex includes two buildings, 10 tenants including Shopper’s Drug Mart and professionals, a…

Return to work levels for Vancouver overall remain above the country-wide average

2022-11-03

Opinion: Vancouver's low office vacancy rate disguises empty offices Darrell Hurst Western Investor While the downtown office vacancy rate is sub-10 per cent, up to 50 per cent of tower space is empty as employees continue to work from home…

Recent buyers and overstretched borrowers are in jeopardy especially in Canada

2022-11-03

Douglas Todd: Canada among most at risk in global housing crunch Douglas Todd The Vancouver Sun Opinion: The housing bubble is bursting – globally. Recent buyers and overstretched investors are in jeopardy because of climbing rates, e…

REBGV reports that October residential home sales were down to 45.5 percent

2022-11-02

Metro home sales, prices in a six-month downward spiral Western Investor staff Western Investor October transactions down 45.5 per cent from a year earlier as Greater Vancouver housing prices continue to slip lower month-to-month   Ben…

Metro Vancouver housing market continue to trend well below historical averages in October

2022-11-02

Inflation, interest rates create caution in Metro Vancouver's housing market REBGV Staff REBGV Home sale activity across the Metro Vancouver* housing market continued to trend well below historical averages in October. The Real Estate Board…

0.45 acres mixed used commercial in Kelowna sells for $2.60 million

2022-10-31

Kelowna 12,052-sq.ft. of commercial-industrial sells for $2.6 million William Wright Commercial Western Investor Mixed-use office, retail and industrial building is fully tenanted with five units on an industrial-zoned 0.45-acre site Proper…

Canada announces it will open a manufacturing facility near Calgary that will employ 1,600 workers

2022-10-27

Another 1,000 jobs coming to Calgary Frank O'Brien Western Investor

Three of the five largest industrial developments underway in the Metro region

2022-10-27

Investors find commercial condos tough to cash flow Frank O' Brien Western Investor High per-square-foot costs and interest rate hikes cool demand for Metro Vancouver industrial strata, despite soaring leases and near-zero vacancies   …

Sales of prime waterfront continue despite realestate market situation

2022-10-27

High-end Okanagan shrugs off the real estate blues Frank O' Brien Western Investor Multimillion-dollar property and land sales continue across the Central and North Okanagan this autumn, despite economic angst Edmonton-based Westrich Pacifi…

9,927 sqft. Industrial site in Mission sells for $1.09 million

2022-10-27

Mission, B.C., 0.23-acre industrial site sells for $1 million CDW Commercial Western Investor Site near the Fraser River has two industrial buildings, with residential rental potential on second floors. Property type: Industrial Location: 7…

Central bank continue to aimed at cooling the economy and tamping down inflation

2022-10-26

Bank of Canada makes another big rate hike Fergal McAlinden other The move marks the latest "supersized" rate jump of 2022 The Bank of Canada has announced a further 50-basis-point hike to its benchmark rate, marking a sixth consecutive inc…

Economy continues to operate in excess demand and labour markets remain tight

2022-10-26

Bank of Canada rate jumps 50 basis points to 3.75 per cent Frank O' Brien Western Investor The increase means about $150 more per month on a variable-rate $500,000 mortgage   Bank of Canada Governor Tiff Macklem hints at further rate h…

Canada is still reeling from the economic impact of COVID-19

2022-10-25

Could rising interest rates crash Canadas housing market? Fergal McAlinden other Rates have surged throughout the year – and more increases are on the way It was a soundbite that appeared to pave the way for a prolonged Canadian housi…

Financial risk for contractors in a slowing market | BCCA

2022-10-25

B.C. construction contractors being squeezed by success Frank O' Brien Western Investor Despite high demand, soaring costs for labour and building materials – and slow payments – are threatening commercial contractors: BCCA &nbs…

Fed implement a ban on the purchase of Canadian real estate by foreign nationals on January 1, 2023

2022-10-25

Preparing for January 1: Federal and provincial changes affecting real estate coming in 2023 REBGV Staff REBGV At a glance (2 minute read): The federal ban on foreign buyers and the provincial Home Buyer Rescission Period (HBRP) both go int…

0.44 acres multi-family rental in White Rock sells for $8.5 Million

2022-10-21

White Rock, B.C., 31-unit multi-family rental trades at $8.5 million Western Investor Staff Western Investor Built in 1976 on a 19,395-square-foot lot, the four-storey apartment building sold at $288,710 per door at a 3 per cent capitalizat…

Housing starts in Metro Vancouver decline 23% in the first half of 2022 compared in 2021

2022-10-21

Rentals dominate Metro Vancouver housing starts Frank O'Brien Western Investor Condo starts, in comparison, have fallen 36 per cent so far in 2022 from a year earlier Rendering of new project with 200 rentals planned for East Vancouver. | G…

Inventory and sales activity is down in many markets across the country

2022-10-21

Despite Rate Hikes, 60% of Potential Buyers Are Still Planning to Buy: Survey Patti Cosgarea other Inventory and sales activity is down in many markets across the country. According to the Canadian Real Estate Association (CREA), 60% of loc…

First Nation in northern B.C. is getting down to business

2022-10-21

Blueberry River FN launches new resource business in B.C's north Frank O' Brien Western Investor Armed with $65 million awarded following court victory on land claim, small First Nations has formed Blueberry River Resources   Blueberry…