Economics

Metro Vancouver apartment vacancy shrinks; average rent jumps 6.4% across the region over the past year - CMHC

The vacancy rate across the Vancouver Census Metropolitan Area (CMA) slipped from 0.8% in October 2015 to 0.7% a year later, according to a Canada Mortgage and Housing Corporation report released November 28.

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BC Commercial Leading Indicator continues to push higher

“Job growth in key commercial sectors and robust consumer demand led the CLI higher in the third quarter," said BCREA Economist Brendon Ogmundson." A rising CLI points to continued strength in BC commercial real estate activity in 2017."

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Canadian housing starts

Housing starts in BC jumped 72 per cent higher to 44,019 SAAR following a dip in October. Starts were up 64 per cent on a year-over-year basis as single detached starts rose 11 per cent and multiple unit starts nearly doubled.

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Downtown vs. suburbs: which costs more?

High housing prices tend to decrease further from downtown — enough that a house in the suburbs can cost significantly less than a similar one in the downtown core. But a new report that factors commuting costs into house prices finds the total costs aren't that different.

The report, co-produced by RBC and think tank the Pembina Institute, concludes it might actually be better, financially, living closer to where you work.

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