Real eState

Calgary real estate sales improve despite ongoing pandemic – CTV Toronto

Published

4 years ago

September 22, 2020

CALGARY —
Calgary realtor Shaukat Hayat had his busiest summer ever, during the COVID-19 pandemic.

“During the pandemic people realize the value of a property, value of a house while they were staying inside,” said Hayat, who has been in the industry since 2006.

Hayat said homes in the $300,000 to $500,000 price range are the ones moving, with homes selling within 30 to 45 days.

“Whoever is going out, they are a very determined buyer, and whoever has listed the property, very determined seller,” said Hayat.

“Summer 2019 and summer 2020, there is an increase in the price and increase in the number of the units sold all over the city.”

Hayat points to a number of factors, including inventory levels and low interest rates on monthly mortgage payments.

The Canada Mortgage and Housing Corporation says sales started to pick up toward the end of June, but were soft in April, May and June.

CMHC released its latest Housing Market Assessment on Monday, looking at the health of the market during the second quarter of 2020.

“We had a huge economic shock in labor markets, in the oil markets which Calgary is a centre of,” said Michael Mak, senior analyst, economics with CMHC.

“This shock basically gave consumers a level of uncertainty and both sellers and buyers didn’t really have a certain outlook on the future. It may be that they decided to wait and see how the government responded how the pandemic responded before making any sales or buys.”

April to June 2020, Mak said approximately 3,400 homes sold in Calgary, compared to 5,200 during the same time period in 2019.

“The MLS average price was $423,311, in the second quarter of 2020, down four per cent from the same period in 2019,” reads the report.

Mak said the report also found there is increased supply in new homes being built in the city compared to demand.

Final sales numbers for the summer aren’t available yet, but Mak says sales are slightly higher and prices are about 10 per cent higher also.

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Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

2 weeks ago

October 24, 2024

Anne Joseph

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Real eState

Here are some facts about British Columbia’s housing market

Published

3 weeks ago

October 17, 2024

Anne Joseph

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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Real eState

B.C. voters face atmospheric river with heavy rain, high winds on election day

Published

3 weeks ago

October 17, 2024

Anne Joseph

VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

This report by The Canadian Press was first published Oct. 17, 2024.

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