Category: Uncategorized
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Building Permits Surge Amid Vancouver Buyers’ Market
B.C. building permits more than doubled, reaching $2.4 billion. Multi-family permits saw a 152% increase, while non-residential permits rose by 99%, especially in industrial and institutional sectors.
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Federal Land in Metro Vancouver to Become Housing
Federal sites in Vancouver and Port Moody are identified for redevelopment into affordable housing. Both properties are near major transit lines, enhancing accessibility.
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Vancouver’s New Normal: Setting the Baseline for Land Prices
Vancouver's New Normal: Setting the Baseline for Land PricesCourt-ordered sales are offering land at discounts, reshaping Vancouver’s land price landscape.
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Vancouver Rent Prices Slowly Declining
One-Bedroom Rents Drop: Vancouver's average one-bedroom rent is now $2,690, down 4.6% from last year.Two-Bedroom Decline: Average two-bedroom rents in Vancouver decreased by 2.6%, now $3,800 per month.
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Dramatic Turnaround Predicted for Metro Vancouver Housing Market
Millennial Demand Rising: Nearly 75% of millennials and Gen Z prioritize homeownership, driving future market growth.Surge in Sales Expected: Increased buyer activity is anticipated to reduce excess inventory, especially in multi-family markets.
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Vancouver Shows Just How Much It Costs to Ban Apartments
Vancouver faces a severe housing crisis, exacerbated by exclusionary zoning that restricts apartment construction on over 75% of residential land. This policy deepens inequality, drives up costs, and leads to urban sprawl and pollution. Recent provincial efforts to reform zoning have been insufficient, and upcoming elections may threaten progress. Advocates are pushing for more inclusive…
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Vancouver Home Sales Dip Despite Rate Cuts
Marked Sales Decline: August sales dropped significantly from last year, indicating market cooling. Well Below Average: Sales substantially trailed the decade-long average, showing market lethargy.
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Downward Pressure Looms Over Vancouver Home Prices
The Bank of Canada’s rate cuts have yet to significantly lift housing markets from their slump. Inventories have increased with more sellers entering the market, giving buyers more decision-making time.
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More listings, fewer buyers: Vancouver home sales drop
GVA reports an increase in available properties but a decline in sales, putting pressure on housing prices in Vancouver, the least affordable city in Canada. Home sales fell 3.8% year-over-year in September, with 1,852 transactions, marking a 26% drop from the 10-year average. New listings rose by 12.8%, leading to a total of 14,932 active…
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Mid-Q3 Vancouver Sales Down, Inventory Up
Despite two rate cuts, August sales ↓ 17.1% yearly in Greater Vancouver. Home prices held steady in August, with a benchmark of ~$1.2M, ↓ 0.9% monthly.