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August 2019 Real Estate Update

September 22nd, 2019|

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.