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.Read More
“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."Read More
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.Read More
Imagine living in a former church, school building or fire station for $50 a week. Consider a 25 per cent tax on people who leave their homes vacant. Or the city taking over the hard work of finding a tenant for owners wary of renting.
The US Federal Reserve ("the Fed") opted to leave its key interest rate unchanged at its current level of between zero and 0.25 per cent.Read More
The Canadian economy grew 2.4 per cent in the fourth quarter of 2014, led by growth in consumer spending and inventory accumulation. Both exports and business investment, two key pillars of the Bank of Canada's hoped for rotation of away from consumption led growth, declined.Read More
New home construction in Canada declined 16.4 per cent in February to 156,276 units at a seasonally adjusted annual rate (SAAR). The six-month trend in Canadian housing starts of 182,137 units SAAR fell for a sixth consecutive month.Read More
The value of Canadian building fell 12.9 per cent in January, largely as a result of lower non-residential construction intentions in Alberta, BC and Ontario.Read More
Housing affordability in B.C. improved slightly in 2014’s fourth quarter but prices in Vancouver continue to drag down the province’s overall affordability, according to RBC’s quarterly housing trends report.
If you live in Vancouver, are under the age of 40 and have your heart set on living in a detached house, you’re more likely than anywhere else in the country to turn to your parents for help.
Canadian cities need to have an open debate about the risks and benefits of Chinese money — including “hot” funds brought in by corrupt officials — in Canada’s housing market, according to a former senior Harper government official.
Canada’s housing market may be “modestly overvalued,” according to the CEO of CMHC, but that’s no reason to fear a painful crash even after last month’s cut in rates.
Evan Siddall, CEO of Canada Mortgage and Housing Corp., says the federal agency's job is to watch for risk factors, but lower rates aren't going to make a big difference.
The Canadian economy gained 35,000 thousand jobs to start 2015 while the national unemployment rate declined 0.1 points to 6.6 per cent. Stronger than expected job growth to start the year and rebounding oil prices may prompt a rethink among those expecting a second rate cut by the Bank of Canada in March.Read More
The Canadian economy contracted 0.2 per cent in November. Falling energy prices resulted in declining output in the oil and gas sector, while manufacturing and mining production was also lower. Given available data, the Canadian economy likely expanded 1.9 per cent in the fourth quarter of 2014, and about 2.4 per cent for the year as a whole.Read More
Real estate in Vancouver is the second least affordable of all the metropolitan markets in the world, according to the 11th Annual Demographia International Housing Affordability Survey: 2015, released January 20.
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.Read More
Consumption patterns have tilted in recent years: Canadians are spending more on mortgages, gardening, health insurance premiums and bank service fees, and a dwindling amount on reading materials and furnishings.Read More