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  1. BoC raises its interest rates to 2.5% since 1998

    Bank of Canada Posts Largest Rate Hike in More Than 20 Years CREA StaffBCREA  The Bank of Canada recently hiked its target for the overnight lending rate to 2.5%, the largest rate increase since August 27, 1998. With inflation persistently coming in (and expected to remain) above the Bank’s expectations, it raised rates by 100 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    30-07-2022
    Real Estate Related

  2. B.C. announces 3-day cooling period to allow buyers to conduct due diligence on the property

    Has BC’s cooling-off legislation arrived at the wrong time? Fergal McAlindenother Homebuying activity is expected to moderate further before the measure’s introduction  British Columbia’s latest steps to enhance consumer protection in the homebuying process saw the province announce a three-day cooling-off period to allow buyers to conduct due diligence on the property. That measure, unveiled […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    29-07-2022
    Real Estate Related

  3. GTA average rent reaches new high in Q2 as competition heats up

    GTA residential rent surges Ephraim Vecinaother The region is seeing rapidly intensifying competition, industry board says The Greater Toronto Area’s average rent has reached a new high in Q2 amid intensified competition, according to the region’s real estate industry association. Double-digit annual increases have pushed up rents for one-bedroom units by 20.2% to $2,269. During […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    29-07-2022
    Real Estate Related

  4. 19,227 sqft multi-family sells for $7.5 Million located in 14333 104 Avenue, Surrey

    18 hotel strata units in Surrey, B.C. sell for $7.5 million Western Investor StaffMortgage Magazine ‘Extended stay’ hotel suites, meant for rentals for up to six months, cover entire floor of Guildford-area property Willam Wright Commercial, Langley, for Western Investor   Property type: Multi-family Location: 201-221 14333 104 Avenue, Surrey, B.C. Number of units: 18 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-07-2022
    Real Estate Related

  5. $7M from Feds to assist builders of the 11-storey tower to meet net zero energy and passive house standards

    Feds contribute $7 million for $81M passive house tower in Coal Harbour Mike HowellWestern Investor Vancouver MP: ‘Once completed, the fully electrical building will emit 94 per cent less GHG emissions than a standard building’  The $81-million project underway at Coal Harbour got a $7-million lift from the federal government Friday to assist the builder […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-07-2022
    Real Estate Related

  6. Canadians’ ultimate ambition to own a home appears undimmed

    Canadians’ homebuying enthusiasm remains strong: report Fergal McAlindenother News arrives despite growing concerns over interest rates Even despite the affordability challenges of recent times – not to mention the current rising-interest-rate landscape – Canadians’ ultimate ambition to own a home appears undimmed, according to RE/MAX’s 2022 Housing Affordability Report.That survey showed that 68% of respondents […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-07-2022
    Real Estate Related

  7. 78.8 acres land in Squamish District sells for $5.8 million

    Squamish District 78.8-acre rural parcel finally sells London Pacific Property Agents Inc.Western Investor Listed off-and-on the market for about seven years, the acreage is on the Squamish River in Brackendale, B.C., and sold in July for $5.8 million for an equestrian centre. Property type: Land Location: 1050 Depot Road, Squamish B.C. Size of land: 78.8 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-07-2022
    Real Estate Related

  8. Long-term growth is expected to continue despite fears surrounding higher interest rates

    Survey: Home prices remain on a strong growth trend Ephraim Vecinaother Increases were particularly notable in suburbs and smaller communities While interest rates have been on the rise for the past few months, the Canadian housing market continued to see price growth during the first six months of this year, according to the latest “Price […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-07-2022
    Real Estate Related

  9. New development proposal for downtown Kelowna has been turned down by city council

    Kelowna says ‘no for now’ for three-tower downtown development Wayne MooreWestern Investor City council has turned down a proposal for a massive development on Coronation Avenue – but leaves its options open  A massive three-tower development proposal of Safari Capital that would redefine Coronation Avenue in downtown Kelowna has been turned down by city council. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    27-07-2022
    Real Estate Related

  10. Kelowna says ‘no for now’ for three-tower downtown development

    New development proposal for downtown Kelowna has been turned down by city council Wayne MooreWestern Investor City council has turned down a proposal for a massive development on Coronation Avenue – but leaves its options open  A massive three-tower development proposal of Safari Capital that would redefine Coronation Avenue in downtown Kelowna has been turned […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    27-07-2022
    Real Estate Related

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