Real eState

Metro Vancouver real estate sales eased in June as benchmark price was flat – Pique Newsmagazine

Published

3 years ago

July 5, 2021

VANCOUVER — The real estate market in Metro Vancouver eased in June from its record-setting pace in March and April.

The Real Estate Board of Greater Vancouver says the number of home sold in the region totalled 3,762 last month, up 54 per cent from the 2,443 sales recorded a year earlier, but down 11.9 per cent from the 4,268 sold in May 2021.

Sales last month were 18.4 per cent above the 10-year June sales average.

The benchmark price for all residential properties in Metro Vancouver was $1.175 million, a 14.5 per cent increase from last June and up 0.2 per cent from the prior month.

Sales of detached homes rose 45.7 per cent to 1,262, with a benchmark price of $1.8 million that was 22 per cent higher on the year but virtually unchanged from May.

Apartment home sales surged 60.5 per cent to 1,774, with a price of $737,600 that was up 8.9 per cent from the prior year, while sales of attached homes increased 53.8 per cent to 726. The benchmark price of $946,900 was up 17.4 per cent from June 2020, but just 1.1 per cent higher than May.

“Metro Vancouver’s housing market continues to experience strong seller’s market conditions, although the intensity of demand has eased from what we saw throughout most of the spring,” REBGV economist Keith Stewart said.

New listings increased 1.1 per cent to 5,849, but that marked an 18 per cent decrease from May. Total listings decreased 5.1 per cent from a year ago to 10,839.

Stewart said low interest rates, a growing economy and an improving job market is continuing to create solid economic fundamentals for the Metro Vancouver housing market.

““We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”

This report by The Canadian Press was first published July 5, 2021.

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Real eState

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

Published

10 hours 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

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

Published

1 week 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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