Category: Uncategorized
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Vancouver Homebuyers: $2K Income Boost Is Needed!
The annual income required to secure and carry a mortgage in Vancouver has climbed another $2,270 MoM. Required income: – Mid-Q1: $230,350 – Late-Q1: $232,620
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Affordable rental development underway in Vancouver’s Little Mountain neighbourhood
An affordable rental housing development in Vancouver's Little Mountain neighborhood is finally underway after 15 years. The 48-unit building will offer various housing options, a childcare facility, and a community plaza. The project aims to create an inclusive neighborhood with housing for all income levels. Continue to full article
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More Listings, Still a Seller’s Market in Metro Vancouver
Sales Increase: – Home sales in Metro Vancouver were 2,415 in Late-Q1 2024, ↑ 17% MoM and ↑ ~5% yearly. Below Avg: – Despite increases, sales are still ↓ 31% below the 10-yr seasonal avg.
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Metro Vancouver Breaks Records With Construction Boom
Metro Vancouver saw a record 33,000 homes built, up 28% from 2022, challenging housing shortage beliefs.Not all areas in Metro Vancouver saw equal construction; some municipalities had below-average starts.
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Vancouver’s Luxury Home Sales Cool, Condos Sizzle
Sales for multi-million dollar detached homes in Metro Vancouver have dropped by 50% in 2024. A report highlights a shift towards condo sales in Metro Vancouver.
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Rent Increases in Metro Vancouver Begin to Ease
With slowing population growth and rising rental completions, rent growth should moderate in Metro Vancouver. In Late–Q1, avg Canadian property rents ↑ 8.8%, showing slight moderation from Mid-Q1 ↑ 10.5%. Vancouver
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How Much Can Landlords Increase Rent in Metro Vancouver?
Frequency of Increase: Once every 12 months, not in the first year of tenancy. Notice Requirement: Three months' notice on approved form required before increase.
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Plans to deliver affordable homes in Vancouver’s False Creek North take major step forward
A land transfer agreement with Concord Pacific has been completed, allowing the City of Vancouver to develop over 670 affordable rental homes in False Creek North. The City will receive $110 million in cash contributions and $121 million in total financial contributions. Housing operators have been selected for each site, with a variety of housing…
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Just Sold this Listing Listing Address: 3401 1211 MELVILLE STREET
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The Vancouver housing crisis and two different ways of addressing it
Housing affordability in Canada is at its toughest, with Vancouver, Victoria, and Toronto being the most affected. Vancouver is facing a crisis with high costs, leading to the development of new housing projects like Kits East and a mixed-use structure on West Broadway. The focus is on adding affordable housing while respecting urban design principles.…