Category: Uncategorized

Rent prices in Metro Vancouver have fallen for the third consecutive month but remain the highest in Canada. The average price for a one-bedroom unfurnished apartment is $2,341, down from $2,362 last month. Vancouver has the highest rental prices in the country, with an average of $2,659 for a one-bedroom unit. All of Canada's top…

Several Metro Vancouver developers confirm stability despite concerns about financial challenges in the industry. Rapidly rising interest rates, ↑ construction costs, and governmental fees affect development activities. These factors cause a slowdown, prompting strategic investments by developers in viable projects.

Vancouver's downtown office vacancy rate has increased from 2% to 12% since the pandemic. This shift has created more opportunities for businesses in the city's core. The increase in vacancy rates has led to more lease options for tenants and a re-evaluation of how office space is used. Despite the high vacancy rates, newer and…

Vancouver has received $115 million in federal housing funds, with Burnaby confirmed to receive $43 million and Kelowna already receiving $31.5 million. The housing accelerator fund aims to support new housing construction through innovative methods. Other municipalities in British Columbia, like Surrey, are awaiting updates on their applications. The funds were previously paused due to…

Housing Proposal: The Vancouver councillor aims to add housing despite existing zoning in Shaughnessy. Affluent Concerns: Shaughnessy lacks rental stock; councillor wants family-sized, affordable housing options.

Home sales in the Vancouver area increased last month due to a rise in newly listed properties, giving buyers a larger selection. However, sales were still below the 10-year seasonal average. The total number of home sales in November was 1,702, a 4.7% increase from the previous year but 33% below the seasonal average. There…

The average asking price for rental units in Canada saw an 8.4% increase year-over-year, despite remaining flat in November. The cost of a one-bedroom unit rose by 13.6% and a two-bedroom by 10.5% annually. Rent growth slowed in Vancouver and Toronto, while Edmonton surpassed Calgary. Montreal and Ottawa also experienced rent increases. The average price…

Housing costs in Metro Vancouver are a significant burden, leading to dismal attitudes among both homeowners and renters.A survey reveals that 53% of people in Metro Vancouver spend more than half of their household income on housing costs. Concerns about missing mortgage or rent payments within the next 12-mo are high, with 48% expressing worries.

Vancouver City Council is considering reevaluating the "60-40" housing ratio in the Downtown Eastside Area Plan due to a lack of affordable housing supply. Only two projects have been built in the area over the past decade, and Councillor Rebecca Bligh believes that rising construction costs and interest rates may make the current ratio unworkable.…

The City of Vancouver introduced the Project Requirements Exploration Tool to expedite permitting times for laneway houses.The tool is part of the city's broader plan to accelerate permit approvals for housing projects and increase housing supply. Laneway houses are detached homes facing alleys, aiming to add rental units in low-density neighborhoods, with ~5K existing in…