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Metro Vancouver's residential real estate prices continue to creep up – Vancouver Courier



The Metro Vancouver residential real estate market has had a fairly strong start to the year, relative to the poor performance of one year previously, the Real Estate Board of Greater Vancouver reported February 4.

There were 1,571 home sales on the MLS in January, which is a 42.4 per cent increase over January 2019.

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Traditionally the slowest month of the year for real estate sale registrations (see graph below), because there is so little home-hunting activity in December, January’s sales were a 22.1 per cent decrease from the 2,016 homes sold in December 2019.

Last month’s sales were still slightly unde long-term typical activity for the month, as the very active markets of 2015 through 2017 pushed up the 10-year sales averages. January’s total was 7.3 per cent below the 10-year January sales average.

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“We’ve begun 2020 with steady home buyer demand that tracks close to the region’s long-term average,” Ashley Smith, REBGV president said. “Looking at supply, we’re seeing fewer homes listed for sale than is typical for this time of year. As we approach the traditionally more active spring market, we’ll keep a close eye on supply to see if the number of homes being listed is keeping pace with demand.”

There were 3,872 homes newly listed for sale in January, which is 20.1 per cent lower than the 4,848 homes listed in January 2019, although it’s more than double the number of homes that were listed in December 2019.

This takes the total number of homes listed for sale in Metro Vancouver, as of January 31, to 8,617, which is a 20.3 per cent decrease from January 2019 and only a 0.2 per cent higher than December 2019. The current figure is also 13.7 per cent below the 10-year January average number of active listings.

The increase in demand coupled with a relatively low supply of homes for sale is inevitably keeping home prices on the slow upward trajectory they have been seeing since summer 2019 (see graph below).

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The composite benchmark price for all home types in Metro Vancouver is currently $1,008,700. This is a 1.4 per cent rise in the past six months, and 0.8 per cent higher than December, although still 1.2 per cent less than in January 2019.

Sales and prices by property type and area

At 439 transactions in January, Metro Vancouver’s single-family detached home sales were up 29.5 per cent year over year. However, it’s also a 26.7 per cent decline over December’s relatively strong sales, which is bringing the sector back towards buyer’s market territory.

Nevertheless, the typical price of a detached home in the region rose 0.5 per cent month over month to $1,431,200, which is a one-per-cent recovery over the past six months, but 1.7 per cent lower than January 2019.

Region-wide figures only tell half the story, however. Seven of the board’s 20 areas saw detached prices in January higher those of one year previously, led by Whistler (up 4.8 per cent) and Squamish (up 4.7 per cent). Annual declines in region’s overall detached benchmark price were led by the Sunshine Coast, (down 5.9 per cent) and Bowen Island (down 5.3 per cent). The double-digit benchmark price declines seen in areas such as West Vancouver and Vancouver West have now subdued to two to three per cent annual price drops.

In the attached-home sector, such as townhomes and duplexes, sales across Metro Vancouver rose 55.1 per cent year over year to 318 transactions. This is 12.6 per cent below December 2019’s attached home sales.

Townhomes have seen the biggest benchmark price recovery since last summer, with the typical price of an attached unit now at $782,500. This is a 1.6 per cent increase over the past six months, a 0.5 per cent increase from December 2019 and only 0.7 per cent lower than in January 2019.

Four MLS areas saw higher attached-home benchmark prices than one year previously. Like in the detached sector, Whistler and Squamish saw townhome prices increase the most, up 9.4 and 7.7 per cent respectively. Ladner (down 6.7 per cent) and Tsawwassen (down 6.5 per cent) continued to lead the annual price declines for this sector, with new townhome construction in those areas apparently exceeding local demand.

Some 814 condos traded in Metro Vancouver last month, which was a 45.6 jump year over year, and a 22.7 per cent drop compared with December.

The benchmark price of a condo in the region has risen one per cent over a month to $663,200, which is a 1.5 per cent increase over the past six months, but a drop of one per cent over the year since January 2019.

Looking at condo markets in the different areas, five MLS areas saw values hold their own from one year previously, with prices up 1.8 per cent in Port Moody and 1.2 per cent in Coquitlam. Like townhomes, the biggest annual price declines in the condo sub-markets were seen in Ladner (down 7.1 per cent) and Tsawwassen (down 8.1 per cent).

Home prices vary widely in different areas throughout the region. To get a good idea of home prices in a specific Metro Vancouver location and by property type, check the detailed MLS® Home Price Index in the full REBGV stats package.

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Toronto-area commercial real estate deals total $7B in Q2, up 43% from year ago – Alberta Prime Times



TORONTO — A new report says the total value of commercial real estate sales in the Greater Toronto Area in the second quarter rose 43 per cent compared with a year ago.

The report by Avison Young says sales of office, industrial, retail, multi-residential and industrial, commercial and investment (ICI) land across the region totalled $7 billion for the three-month period, up from $4.9 billion a year earlier.

The result brought total investment to $14 billion for the first half of 2022.

The report says the industrial sector saw the highest investment dollar volume during the quarter with $2.6 billion compared with $1.4 billion in the same quarter last year.

The ICI land category garnered $1.7 billion, up from $1.6 billion a year ago, while office properties saw $1.1 billion in deals, up from $349 million in the second quarter of 2021.

Multi-residential deals totalled $1 billion, up from $815 million in the same quarter last year and retail property deals amounted to $696 million, down from $725 million a year ago.

This report by The Canadian Press was first published Aug. 18, 2022.

The Canadian Press

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From Homebuyers To Real Estate Investors – AccessWire



TORONTO, ON / ACCESSWIRE / August 18, 2022 / To say that a mortgage is just a loan is far from the truth. It is much more than that. A mortgage is your key to home/property ownership, and if you land the right one, it will become a crucial financial tool for building a strong financial future through real estate.

How would you be able to land the right mortgage and make millions yourself? You’re in luck because you don’t have to do it alone. We know a mortgage agency that can hook you up with a certified mortgage professional to speed up the process, ensure you get the best deal, and teach you how to earn your fortune in real estate.

Mortgage Alliance, Thursday, August 18, 2022, Press release picture

Mortgage Alliance is one of Canada’s most established mortgage companies, with years at the industry’s top. The Canadian mortgage agency enjoys a reputation as a prime source of mortgage solutions for homebuyers, homeowners, and investors alike. They cater to clients all around Canada, providing professional mortgage services and financial guidance to “help people improve their financial health in the short, medium, and long term through real estate,” according to Mortgage Alliance agent Lesley Hepditch.

To that end, the agency takes a comprehensive approach to helping its clients achieve their goals. Their agents don’t use any cookie-cutter solutions. Instead, they work closely with clients to understand their financial situation or needs and provide personalized strategies to secure the best results for their mortgage and their financial future. “We also act as financial coaches, so while I myself am chiefly a mortgage professional, I am also licensed to handle investments and insurance. This allows Mortgage Alliance agents like me to help clients in ways not many other companies can. In short, we look at their overall financial health, then help them craft ways to achieve their goals.” Lesley said.

Mortgage Alliance covers all the usual mortgage services, including new home purchases, refinancing, and renewals. It promises clients unbiased advice and expert education on what they need to know to make the best decisions. Lesley explained that the end goal is simple: “We want to help people earn more income and become properly protected, debt-free, and financially independent by helping them build their four pillars of investing: investments, income protection, debt elimination, and real estate. For us, client education is just as important as results because we want to help them achieve lasting wealth.”

With their agents’ mortgage expertise and deep financial acumen, landing the right mortgage will be the least of your worries, or rather successes, with Mortgage Alliance. If you’re ready to take the first step toward securing a thriving financial future, don’t hesitate to contact the mortgage and financial experts at Mortgage Alliance using the details listed below.


Lesley Hepditch
Mortgage Alliance
[email protected]

About Mortgage Alliance:

Mortgage Alliance is one of Canada’s most trusted mortgage companies. They offer the full selection of mortgage services, with a focus on providing custom solutions for any of their clients’ financing needs.

SOURCE: Mortgage Alliance

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Real estate at critical juncture to embrace dynamic workplaces – PR Newswire



JLL’s Future of Work Survey shows that while hybrid work is here to stay, the office remains critical to business operations

CHICAGO, Aug. 18, 2022 /PRNewswire/ — As businesses continue to evolve their workplaces to best meet the needs of their employees, JLL’s (NYSE: JLL) global Future of Work Survey finds that 72% of decision makers believe the office is critical to doing business. The research shows that over the next several years companies anticipate hybrid work to become the dominant model and will be looking across their real estate portfolios to re-think their office spaces, invest in new technology and prioritize sustainability.

“The next three years will prove to be an inflection point for real estate as businesses plot their future path and rethink the purpose of their portfolio,” said Dr. Marie Puybaraud, Global Head of Research, JLL Work Dynamics. “The changes accelerated by the pandemic represent an opportunity to pause, think about a long-term real estate strategy and how it aligns with future business priorities.”

Rethinking the office layout to accommodate hybrid working in the long-term

The mass adoption of hybrid work will have a lasting impact, with 77% of CRE leaders agreeing that offering remote or hybrid working will be critical to attracting and retaining talent in the future. As the trend toward dynamic working will continue, successfully operationalizing hybrid working will be the most important strategic priority for commercial real estate (CRE) executives over the next three years. This includes exploring flexible space options, with 43% of companies planning to accelerate investment in flexible space between now and 2025, and 51% saying they will lease flexible space through a third-party provider.

“As the office finds a new purpose post-pandemic as a destination for collaboration in employees’ hybrid workstyles, occupiers will need to continue increasing their investments in creative spaces,” said Cynthia Kantor, Chief Client Value & Growth Officer, JLL Work Dynamics. “Enhancing socialization, especially among a large, often geographically dispersed, workforce will be critical to future talent strategies, as the office accelerates its role as the innovation hub of the work ecosystem.”

Forty-five percent of organizations consider collaboration to be one of the primary purposes of office space and 73% have planned or are planning to make all office spaces open and collaborative, with no dedicated desk spaces. Many companies are also investing in spaces that support new workforce priorities around health and wellbeing.

Environmental and social aspirations will shape future portfolio transformation

As organizations face ever increasing pressure to deliver clear outcomes in the race to net zero and create social value through real estate, 77% say investing in quality space is a priority. With green strategies having a direct impact on real estate decisions, 74% say they are likely to pay a premium for green credentials; further, more than half of occupiers (56%) plan to do so by 2025.

However, stakeholder aspirations are not solely environmental, with nearly 8 out of 10 companies saying their employees expect their workplaces to have a positive impact on society. This means increasing investment in social considerations will be equally as important as funding environmental objectives. With diversity, inclusion and wellbeing now falling high on the corporate agenda, companies are underpinning these objectives with further investment and resources. Seventy-nine percent of respondents agree that their organizations are acting today to make the workplace more inclusive and diverse for all employees.

Investing in technology investments to boost workplace performance and productivity

Technology and data will be critical foundations in the future of successful real estate operations, but the gap that needs to be filled is immense. Only 13% of CRE executives say they are collecting data on an ongoing or real-time basis using advanced analytics. With the transformative power of technology to shape the dynamic workplace, companies are focused on ramping up investments in intelligent solutions to unlock new opportunities for boosting workforce performance and productivity.

The research finds a clear roadmap for CRE technology shaped around 15 anchor technologies, including workplace apps, remote working technology and virtual reality.1 As organizations plan future investments, CRE leaders are focused on key strategic areas like sustainability and employee wellbeing. By 2025, most companies (78%) plan to have incorporated over ten of the anchor technologies in their operations, and 40% plan to incorporate all 15.

Real estate needs are becoming more sophisticated and complex

To respond to the complex range of future of work challenges, CRE leaders will focus more on harnessing specialist skills to achieve their strategic objectives. Seventy-five percent of leading CRE functions anticipate greater reliance on external partners, with the two top areas for outsourcing growth expected to be health and wellbeing services (44%) and sustainability strategy (44%). Further, as technology becomes a crucial platform to boost performance levels on all fronts, 43% say they will need more outsourcing support for CRE technology solutions over the next three years.


1 For a list of the 15 anchor technologies, refer to p. 30 in JLL Future of Work Survey (August 2022)

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

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Contact: Gayle Kantro
Phone: + 1 312 228 2795
Email: [email protected]


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