Category: Uncategorized
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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.…
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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…