Real Estate News & Articles

Vancouver's luxury real estate market seeing balanced conditions after an era of "pandemic over-exuberance"

2022-10-20

Vancouver's luxury real estate market returns to balanced conditions Claire Wilson Western Investor After two years of ‘over-exuberance,’ the luxury market is seeing a slow down that represents a return back to normal According …

4,176 square feet multi-family rental in North Vancouver sells for $2.56 Million

2022-10-20

North Vancouver four-unit multi-family sells for $2.5 million Western Investor Staff Western Investor Small townhouse rental complex near central Lonsdale Avenue has development potential under OCP approval for higher density Colliers, Vanc…

6.56 acres manufactured home park in Sicamous sells for $3.35 Million

2022-10-20

Sicamous, B.C., 41-pad manufactured home park sells for $3.3 million Western Investor Staff Western Investor The park is on 6.56 acres and close to two lakes in the Okanagan, about a 4.5-hour drive from Vancouver.   William Wright Comm…

Canada's metropolitan areas decline 5% in housing starts in the first half of 2022

2022-10-19

Home building slumps as construction costs soar up to 30%, says CMHC Shantae Campbell The Vancouver Sun Rising costs threaten to make housing affordability even worse A big part of the decline in home construction was apartment starts which…

An "astonishing" increase in investment transactions in the first half of 2022 had broad underpinnings in Q2

2022-10-19

Broad-based activity spurs Calgary investment sales higher in Q2 Peter Mitham Western Investor   Multifamily deals underscored strength outside the office sector Concert Properties Ltd. acquired 111 Lowes Road in Balzac, Alta., from Hi…

Scotiabank is now expecting growth to slow from 3.2% in 2022 to 0.6% in 2023

2022-10-19

Scotiabank: Canada to see "technical recession" in 2023 Ephraim Vecina other This will particularly affect the Bank of Canada's rate-hike trajectory, Scotiabank says A potent combination of internal and external factors is likely to trigger…

Canada annual inflation rate slows to 6.9% in September

2022-10-19

Canada's inflation rate falls again Fergal McAlinden other September's yearly price growth was still stronger than economists had expected Canada’s annual rate of inflation was 6.9% in September, marking a third consecutive monthly de…

Canadas' annual rate of housing starts surges 11% in September

2022-10-18

Pace of housing starts surges 11% amid concerns of supply shortage Shantae Campbell The Vancouver Sun Hits highest monthly level in almost a year  Canada's annual rate of housing starts jumped 11 per cent in September. Photo by Michell…

Two-building purchase worth $91 million in the second quarter of 2022

2022-10-18

Edmonton investment sales rebound in first half of 2022 Peter Mitham Western Investor Slower times ahead but steady economy draws in buyers Nexus REIT acquired 11250 189th Street NW, Edmonton, home to MTE Logistix, as part of a two-building…

Canada's houses crisis on a shortage of homes

2022-10-17

Is there a shortage of homes in Canada? Jonathan Russell Western Investor Factors that are affecting Canada's housing crisis While it has been common to blame Canada’s houses crisis on a shortage of homes, there are reasons to believe…

Development land in Surrey sells for $6.5 Million

2022-10-15

Less than acre of Surrey multi-family land sells for $6.5 million Western Investor Staff Western Investor The 0.97-acre parcels is in the Fleetwood area, close to the planned 152 Street SkyTrain station. Frontline Real Estate Services, Surr…

Vancouver elects first Chinese-Canadian mayor

2022-10-15

Sim elected new mayor of Vancouver in a landslide vote Frank O'Brien Western Investor Ken Sim, a novice politician, is the first Chinese-Canadian elected as mayor of Vancouver. Ken Sim thanks supporters in his election victory speech Oct. 1…

CMHC predict housing prices continue to drop in 2023

2022-10-14

CMHC makes huge house price drop prediction Tara Deschamps other However, the fall will do little to improve affordability Canada Mortgage and Housing Corp. is predicting housing prices will continue to drop in 2023, but is warnin…

Home sales fell by 3.9% in September compared to the previous month | CREA

2022-10-14

Canada home prices fall again Fergal McAlinden other   September marked the seventh successive month of declining prices Canadian home prices were down again in September, marking a seventh consecutive month of decline as they dropped …

Home sales fell by 3.9% in September compared to the previous month | CREA

2022-10-14

Canada home prices fall again Fergal McAlinden other

B.C.'s lost 58% of paper production capacity and 13% of pulp mill capacity | David Elstone

2022-10-14

B.C.'s once-mighty pulp and paper industry faces ruin Nelson Bennett Western Investor Government, industry have 90 days to turn around an industry worth $3.9 billion to provincial economy, experts warn The Powell River mill, once the larges…

673 acres of farmland in Saskatchewan sells for $1.911 Million

2022-10-14

Saskatchewan 673 acres sells for $1.91 million Western Investor Staff Western Investor The farmland, made up of four contiguous properties in RM of Edenwold, sold for $311,00 over its list price. C&C Realty, Regina Beach, Saskatchewan, …

Development land sells for $4.4M located at 14238 Highway 10, Surrey, B.C.

2022-10-14

Surrey 1.76-acre site on Highway 10 fetches $4.4 million Western Investor Staff Western Investor Eyed for residential development, the site is close to amenities in the Panorama area as well as Highway 91 and 99. Frontline Real Estate Servi…

29 storeys propose for the site of the former Mountain Equipment Co-op flagship store at 130 West Broadway in Vancouver

2022-10-14

Rezoning application prepped for key Broadway site Peter Mitham The Vancouver Sun Two rental towers are proposed for the site of MEC's former flagship store at 130 West Broadway in Vancouver under a rezoning application set for submission i…

Toronto housing market is currently the biggest real estate bubble worldwide

2022-10-13

This Canadian market is the worlds biggest housing bubble... Ephraim Vecina other Interest rate increases and economic volatility are amplifying the risk of home price crashes The Toronto housing market is currently the biggest real estate …

Canada's most populous provinces are likely to fall well short of affordable housing targets for 2030

2022-10-13

How can Canada solve its housing supply problem? Fergal McAlinden other Possible solutions are varied – but difficult The news that Canada’s most populous provinces are likely to fall well short of affordable housing targets for…

Canadian home prices drop by 4.9% on a quarterly basis in the Q3

2022-10-13

Home prices to turn negative for 2022 Royal LePage Shantae Campbell other

Cost of owning a home in Vancouver, now sits at a staggering 90% of the city's median income | RBC

2022-10-13

Vancouver unleashes plan to tame runaway house prices Ari Altstedter other It's one of the least affordable areas in Canada Tucked between snow-capped mountains and the sparkling Pacific, with a mild climate and thriving cultural scene, Van…

California city's commercial real estate as 24M sqft of office space has gone vacant since pandemic began

2022-10-12

Vancouver fends off 'zombie' towers spooking U.S. cities Frank O'Brien Western Investor Core office towers are going dark from Manhattan to San Francisco as employees prefer working from home – but Vancouver has so far dodged the down…