August 2019 Real Estate Update


Fort St. John is experiencing a rise in commercial and residential real estate values after approval of the TransCanada Coastal GasLink pipeline. While prices in the Vancouver area continue to decline, sales have risen, and the Real Estate Board of Greater Vancouver believes this is a sign of a normalizing market. While some developers have had to cancel or delay real estate development in Metro Vancouver, others are experiencing some success by shifting their focus to purpose-build rental housing. Although observers have warned that the recent downturn in B.C.’s real estate market could result in catastrophic wealth destruction, the B.C. government believes the market is returning to normal conditions.

August 2019 Real Estate Update2019-09-25T04:25:41+00:00

July 2019 Real Estate Update


Real estate prices in Greater Vancouver and the Fraser Valley continued to decline in June, as has the sales rate for presale condos in those regions. However, areas of Northern BC and Vancouver Island are experiencing gains in resale prices and strong sales. There are some indications that the declining markets may see a [...]

July 2019 Real Estate Update2019-08-15T16:26:57+00:00

May 2019 Real Estate Update


A new poll has found that most B.C. residents believe new taxation is making housing affordability worse. Residential real estate in the Lower Mainland has suffered nearly $90 billion in losses to home equity in the past year which will have major impacts on the B.C. economy. Home sales across the province will remain [...]

May 2019 Real Estate Update2019-06-12T05:45:29+00:00

March 2019 Real Estate Update


Canadians’ concerns that the legalization of cannabis will negatively impact property values have not played out in other jurisdictions where marijuana is legal. In fact, in some areas, homes within 160 metres of a retail marijuana store were valued close to 10% higher than those outside of that radius. Fixed rate mortgage rates are [...]

March 2019 Real Estate Update2019-04-16T20:00:01+00:00

February 2019 Real Estate Update


The Financial Institutions Commission is increasing its oversight of mortgage brokers in Canada to help curb problems with predatory lending as Canadian debt loads rise and home prices fall. Despite rising interest rates, other data suggest that in Vancouver, delinquencies are not increasing as the number of borrowers who are three months or more [...]

February 2019 Real Estate Update2019-03-31T23:34:35+00:00

January 2019 Real Estate Update


The Greater Vancouver housing market continues to see 10 year lows in sales due to increased municipal and provincial regulation, as well as more stringent mortgage stress tests and rising interest rates. This downturn is contributing to the Bank of Canada prediction for negative growth for residential real estate investment in Canada in 2019. [...]

January 2019 Real Estate Update2019-02-12T04:30:58+00:00

December 2018 Real Estate Update


Rising interest rates have resulted in a decrease in detached home prices in Greater Vancouver and in increased insolvencies across Canada. However, northern markets have not seen the same overall negative effects of rising interest rates couple with the more stringent mortgage stress test as seen in the Lower Mainland. Parts of northwest BC [...]

December 2018 Real Estate Update2019-01-17T02:11:46+00:00

November 2018 Real Estate Update


The Chartered Professional Accountants (CPA) of Canada say the country is unlikely to experience the same housing market crash experienced by the U.S. a decade ago given the credit quality of today’s Canadian homebuyers. However, homebuyers who may be unable to qualify under the new mortgage stress tests are turning to private lenders, making [...]

November 2018 Real Estate Update2018-12-13T02:26:21+00:00

October 2018 Real Estate Update


The BC real estate market, along with other areas in Canada, continues to show signs of recovering from the changes early in 2018 in government regulations with respect to stress testing and foreign buyers.  The approval of the LNG terminal in Kitimat, BC means that the $6 billion Coastal GasLink pipeline will also be [...]

October 2018 Real Estate Update2018-11-21T17:56:54+00:00

September 2018 Real Estate Update


The BC real estate market is showing signs of recovering from the changes in government regulations with respect to stress testing and foreign buyers.  When adjusted for seasonal buying trends, there has been an overall increase in sales of 3.5%.  However, in Greater Vancouver, the Fraser Valley, Okanagan and Kamloops regions, homes and listings [...]

September 2018 Real Estate Update2018-11-15T22:07:52+00:00