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  1. 6081-6083 Collingwood Place project - city approves rezoning for five-storey rental apartment

    Several Dunbar residents are speaking out regarding Vancouver city council’s unanimous approval of a 30-unit, five-storey rental building on Collingwood Place.

    It’s on a transit route, it’s close to UBC and it’s in a neighbourhood that desperately needs affordable housing,” said Meiszner. “This is going to give people the opportunity to rent in the neighbourhood and that’s something that’s missing right now.”
    Source: other
    08-11-2023

  2. BREAKING: WeWork files for bankruptcy

    WeWork’s locations outside of the U.S. and Canada are not part of this process. WeWork’s franchisees around the world are similarly not affected by these proceedings, according to the company.

    “Now is the time for us to pull the future forward by aggressively addressing our legacy leases and dramatically improving our balance sheet,” CEO David Tolley said in a prepared statement. “We defined a new category of working, and these steps will enable us to remain the global leader in flexible work.”
    By Frank O'brien
    07-11-2023

  3. Speeding up the FINTRAC grind

    Simon Fiore wasn’t trying to disrupt the real estate industry when he was sitting in his office at Re/Max Associates in Winnipeg back in 2017. He was simply another realtor struggling with the task all realtors dread doing the most: filling out FINTRAC paperwork.

    FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) forms. They are a specific set of paperwork required to be completed to help combat money laundering and terrorist activity financing in Canada.

    Fintracker is an online tool designed to assist real estate agents by automating the process of completing FINTRAC forms.

     
    By Jamie Burke
    06-11-2023

  4. B.C. spends big to house homeless in Prince George

    The first is the Lotus Hostel at 197 Quebec Street, a 27-unit aging structure that BC Assessments valued this year at $786,500. BC Housing, however, is paying a total of $4.8 million, which includes $2.6 million in necessary repairs and upgrades. This works out to $177,777 per “key” in the language of the hotel industry.

    As a comparison, according to the Colliers’ INNvestment Canada report on the national hotel industry for the third-quarter 2023, the “full service” Ottawa Marriott Hotel, a block from Parliament Hill in Canada’s capital, with an indoor pool and a selection of dining rooms, lounges and meeting spaces, sold for $176,900 per key.
    By Frank O'Brien
    03-11-2023

  5. MLA Q3 Market Update

    In the third quarter of 2023, the Metro Vancouver real estate
    market maintained a cautious stance, as both buyers and
    sellers awaited clearer signals on inflation and overall market
    direction. Following typical seasonal patterns, presale activity
    was reduced in July and August as buyers took a step back for
    summer travel and to enjoy the better weather. Consequently,
    new presale projects held back their sales campaigns to
    begin previews in September and October.
    By MLA
    30-10-2023

  6. Vancouver 0.69-acre strata windup site sells for $41 million

    Price is equal to $1 million for each of the 41 units in the windup at the prime corner of Burrard Street and West 12 Avenue that is slated for high-density development
    By Colliers
    25-10-2023

  7. A slow September for B.C. thanks to renewed Bank of Canada rate hikes - 30,000 listings and 6000 sales in bc in September

    British Columbia home sales have been hit by the interest rate hikes the Bank of Canada reignited in June. According to the British Columbia Real Estate Association (BCREA), the province’s average home price went up by 4.9 per cent last month, compared to September 2022.
    By Rem Editorial Team
    20-10-2023

  8. The Ontario MLS data divide from 7 real estate boards is hurting Ontario realtors

    There are seven MLS Systems in the province — more than in any other jurisdiction in Canada — and there is different data in each system. 

    ITSO and its member associations are willing to share their data. The 15 member associations of ITSO share their data with each other, as well as with the Realtors Association of Hamilton-Burlington, Sudbury Real Estate Board, Ottawa Real Estate Board, Cornwall and District Real Estate Board, Rideau-St. Lawrence Real Estate Board and Renfrew County Real Estate Board. The bad news is that there are a handful of real estate associations in Ontario that appear unwilling to reciprocally share their data.
    By Alison McLure
    16-10-2023

  9. BC government to announce legislation regulating short-term rentals Monday

    The Government of British Columbia release details on how it will better regulate short-term rentals as part of the effort to improve housing affordability and supply.

    Few details are available at this time, but the proposed legislation will be introduced to “return short-term rentals to long-term homes for people.”
    By Kenneth Chan
    15-10-2023

  10. House prices have eased as the national home sales declined by 1.9 per

    House prices have eased as the national home sales declined by 1.9 per cent between August 2023 and September 2023, according to data from the Canadian Real Estate Association. This is now the third month of decrease, and a very atypical and alarming scenario given that sales almost always increase from August to September.

    This shift in local market sales was relatively minimal, with declines in Greater Vancouver and Greater Toronto Area, although Edmonton, Montreal, and the Kitchener-Waterloo region experienced smaller increases than seen in Toronto and Vancouver. 
    By Daniel Foch
    14-10-2023

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