Real Estate Market in Vancouver Report

Mortgage Rates in British Columbia

Greater Vancouver Real Estate Market Results: April

Vancouver Twilight by photodreamz

Eugen Klein, REBGV president, commented on April market’s situation: “Although April sales were below what’s typical for the month, we continue to see, with a sales-to-active listing ratio of nearly 17 per cent, a balanced relationship between buyer demand and seller supply in our marketplace.”

The MLS® HPI benchmark price for all residential properties in the Greater Vancouver Area experienced a minor growth of 3.7 per cent over the last year, rising to $683,800 since April 2011, and a 2.8 per cent increase since February 2012. The benchmark price for all residential properties in the Lower Mainland is $612,000 — 2.6 per cent more than three months ago.

Sustainable Architecture & Green Buildings in Vancouver

Green Vancouver by Wendy

Since 1997, the question of sustainability has taken a serious place in global politics. The plan to reduce a level of greenhouse emissions to approximately 5 per cent lower than 1990 levels by 2010, brought by the 1997 Kyoto protocol hasn’t been fulfilled by most of the countries that signed the protocol. Canada’s greenhouse gas emissions have increased by more than 20 per cent since 1990. Scientists now warn us that 1990 greenhouse gas emissions must be reduced by 20 to 25 per cent by 2020 if we are to avoid the dangerous effects of climate change. It is the overconsumption of non-renewable resources that has allowed pollution levels to increase to intolerable numbers.

How Dangerous is High Household Debt for the Economy?

Greater Vancouver Real Estate Market Results: March

Vancouver Panorama by Tom J. Byrne

Home sales in March stayed below the ten year average in Greater Vancouver while home listings reached higher numbers than expected. March 2012 sales were the second lowest total for the month in the Greater Vancouver region since 2002. These stayed 16.8 per cent below the ten year sales average for the month.

Canada’s Low Interest Rates: Did You Take Your Chance?

Arrow by Mykl Roventine

BMO first offered 2.99 per cent five-year fixed closed mortgage in January this year. In March, it triggered another mortgage battle, repeating its 2.99 per cent offer, that was ended by the end of March. RBC and TD Bank have increased their four-year mortgage rates from 2.99 per cent to 3.49 per cent, effective March 29th. They also raised the rates on a five-year variable mortgage rate to 20 basis points above prime.

Home Construction Costs in Vancouver

Contemporary House by Pnwra

Moving permanently is one of the biggest decisions in one’s life, and it should be thought through properly. This article will attempt to make this kind of decision as painless as possible. There are hundreds of possibilities you can decide from, from a condo in the centre of Vancouver to a hut in the woods of the interior. Let’s concentrate on the most common choice, a house for a family. Obviously, the first thought that pops into your mind is whether to buy an old house and renovate it or build a brand new one.

Greater Vancouver Real Estate Market Results: February

Blue House by D'Arcy Norman

Although February sales in Greater Vancouver were only 151 sales below the ten-year average, they placed third lowest among February totals in the region since 2002.

Rosario Setticasi, REBGV president, commented on the situation: “With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season.”

Enhanced New Housing Rebates in B.C.

British Columbia Logo

Attention home buyers in British Columbia! The British Columbia provincial government and the Ministry of Finance recently published a tax information notice on Enhanced New Housing Rebates and the Re-Implementation of the Provincial Sales Tax.

This Notice is intended to provide certainty about the application of tax during the transition for British Columbians who are buying new homes or constructing their own homes and for builders& who are constructing new homes. The temporary transition measures for new housing will help to ensure that purchasers are treated equitably and& will smooth& the transition from the HST to the PST/GST.

Greater Vancouver Real Estate Market Results: January

Downtown Vancouver by JamesZ

“The MLS® HPI is a national collaboration intended to give the public a more reliable and comprehensive tool to understand home price trends across the country,” Rosario Setticasi, REBGV president, commented on the launch of the new MLS® Home Price Index (MLS® HPI) replacing the MLSLink Housing Price Index, which had been used by Greater Vancouver and Fraser Valley REALTORS® since the mid 1990s.

Greater Vancouver Real Estate Market Results: December

Downtown Vancouver by PoYang

Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in the region’s largest communities caused prices in certain areas to rise higher than others. For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.

New Year’s Eve Events in Vancouver

Vancouver Fireworks by Jon Rawlinson

New Year’s Eve is just around the corner. Another year, another reason to celebrate. Seems like we’ve barely finished with Christmas gifts and we’re stuck trying to figure out what to do on the craziest night of the year. This NYE’s events offer a surprisingly diverse mixture of parties, fireworks, traditional sleepovers, great food, and fabulous drinks. Whether you want to dress to the nines and head out to the last glamourous party of this year or you want to spend the night with your family, you have plenty of options to choose from. This article brings you a list of the most interesting events and venues to go to on this NYE.

Greater Vancouver Real Estate Market Results: November

Vancouver by Maya-Anais Yataghine

November is behind us, and as the year 2011 slowly comes to an end, we bring you a short review of this year’s 11th Real Estate Market Results report, issued by the Real Estate Board of Greater Vancouver. November 2011 didn’t experience any major diversions from this part of the year’s usual home sale and listing activity.

U.S. Rentals on the Rise

Front of House by Chanel Wheeler

An October 2011 economic outlook report by Freddie Mac reveals an increasing trend in choosing rental housing over homeownership, hinting at positive economic developments in the multifamily sector in the U.S. market.