Category: Uncategorized
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Vancouver’s Budget Task Force Recommendations
Define Core Responsibilities: Identify essential city functions to prioritize in budgeting. Analyze Spending: Carefully review expenses beyond core responsibilities.
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Early-Q1 Median Rent for Houses and Condos in Vancouver
The median rent for 1-bed houses: $2,300, ↓ 1% MoM, and ↑ 5% yearly The median rent for 2-bed houses: $3,000, ↓ 17% MoM, and unchanged yearly
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Vancouver’s Real Estate Rebound in January 2024
Vancouver experienced a strong sales surge at the beginning of the year, with a 12% increase in home sales compared to the previous month. Single-family dwellings saw significant growth, with 1,427 homes sold. New listings rose by 14%, but inventory also increased by 9.8%. Affordability remains a concern, and the MLS House Price Index showed…
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JANUARY CAPITAL REGION COMMERCIAL REAL ESTATE REPORT
Victoria council sent a proposal for a 23-storey, 269-unit rental tower to public hearing. A developer in Esquimalt hopes to add two floors and sixteen units to a residential highrise. A downtown development may switch office space to rental apartments. BC Housing's modular supportive housing projects are reaching occupancy. Victoria real estate prices fell in…
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Metro Vancouver Housing Costs Soar Before Construction
Budgets for 2 affordable rental developments owned and operated by Metro Vancouver ↑ ~2X before construction began. Cost Increases: – Connection project: ↑ 89% to $121M – Steller project: ↑ 104% to $94M
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Vancouver Housing Market Rebounds: A Tale of Resilience and Recovery
In Vancouver, the housing market shows signs of recovery with increased interest in semi-detached homes. A recent sale on Dunbar Street, with 27 offers, highlights the area's desirability. The market's rebound is attributed to factors like potential interest rate cuts. The resilience and growth in the market offer hope for buyers and sellers in 2024.…
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New Listing: 3401 1211 MELVILLE STREET
34th floor sky-home at the prestigious Ritz Building in Coal Harbour. This air-conditioned 2bed and den has been recently renovated with new flooring, paint throughout, and other updates. Flawless floorplan with no wasted space. 9' Ceilings throughout. Large Master with walk through closet and ensuite. Enjoy Easterly and Southerly views over looking the city skyline…
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Happy Women’s Day
International Women's Day, also known as IWD for short, grew out of the labour movement to become a recognized annual event by the UN.It all started in 1908 when 15K women marched through NYC demanding shorter working hours, better pay and the right to vote. Things were made official in 1975 when the United Nations…
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Average Vancouver couple needs to earn $92000 more to qualify for typical home
The average Vancouver couple needs to earn $92,000 more annually to afford a mortgage on a typical home in the city. Affordability slightly improved last month, with a decrease in the income required to buy a home. However, the housing market is still in a crisis, with prices out of reach for many. Continue to…
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Vancouver: Highest Permit Costs, Extensive Documentation
A report by the Canadian Federation of Independent Business highlights municipal permit challenges in Canada's housing crisis.Survey compared permit costs and paperwork for a $20K bathroom conversion in 12 cities.