Category: Uncategorized
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Vancouver Homeownership Costs Reach Crisis Levels
A new RBC report says buying a home in Vancouver is at "full-blown crisis levels". 106.4% of median income was needed to afford home ownership in Vancouver at the end of 2023.
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Vancouver’s Sales Decline Amid Rising Inventory
Home sales in Greater Vancouver ↓ 4.7% from March 2023, with 2,415 transactions recorded. Total sales were ~33% lower than the 10-yr avg, indicating a notable decline in market activity.
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Vancouver’s Empty Bedrooms Are the Problem, Not Houses
Despite shrinking household sizes and rising prices, lot sizes haven't adjusted, leading to an excess of empty bedrooms in single-family homes.Three principles are proposed to prompt cities to address housing affordability and urban challenges proactively.
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How much has Vancouver rent increased over the past 5 years?
Vancouver has one of Canada's most expensive housing rental markets, but prices have slightly cooled off in 2024. The average price for a one-bedroom, unfurnished unit dropped by 4% year-over-year. Despite this drop, Vancouver's rent prices remain among the highest in the country. Continue to full article
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Impact of the New Home-Flipping Tax in Vancouver
The new home-flipping tax in Vancouver aims to discourage quick flips and make housing more accessible by reducing competition from investors.Real Estate experts see the tax as a positive step for the market, potentially leading to more balanced market conditions. The tax exempts situations like job relocation and certain family situations, acknowledging that not all…
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Home Seller Activity in Greater Vancouver Region Up
Home seller activity in Greater Vancouver ↑ 23% yearly in March 2024. However, the number of sales ↓ 5% yearly to 2.3K and < than the 10-yr avg.
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Buyer’s Agent vs. Listing Agent: Key Differences
Legal Obligations: Buyer’s agents assist buyers, while listing agents represent home sellers, each with fiduciary duties.Representation Advantage: Buyers benefit from an agent dedicated to protecting their interests throughout the transaction process.
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Happy Mother’s Day
Mother's Day is a celebration honoring the mother of the family or individual, as well as motherhood, maternal bonds, and the influence of mothers in society. The origins of commemorating motherhood dates back to the Ancient Greeks, where in spring festival, they celebrated the goddess Rhea, considered the Mother of the Gods. Anna Jarvis’s lobbying…
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Metro Vancouver’s Inclusionary Housing: A Patchwork of Progress
New Policy Impact: – Metro Vancouver's new housing policy has created 9,200 below-market rental homes, mainly by private developers. Inconsistent Application: – Inclusionary housing policies vary across the region, lacking uniformity.
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City council looking at denser housing in Vancouver’s Shaughnessy neighbourhood
B.C.'s new housing legislation may require densification in the affluent Shaughnessy neighborhood. Bill 44 allows for increased densities, with up to four units on a residential lot. A previous attempt to increase density in Shaughnessy was defeated, but there are ongoing discussions about the need for zoning changes. Continue to full article