Zanyar Farhadi’s Blog
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Stable Vancouver Housing in H2: Sales to Rise 10%
Average sale prices are expected to rise by 3%, with sales increasing by 10% by the end of 2024. The Greater Vancouver housing market remains balanced, with potential shifts to a seller's market pending rate cuts.
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Renters in Vancouver pessimistic about homeownership: poll
A recent poll reveals that 86% of non-homeowners in Vancouver feel there is little chance of ever owning property, with only 6% confident they will own a home. BC Housing CEO Jill Atkey notes it takes an average of 22 years for renters to save for a down payment. While rental rates are beginning to…
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High Land Costs In Vancouver Pushing Condo Projects Out To Suburbs
Canada Housing and Mortgage Corporation's bi-annual report reveals a 4% increase in housing starts across major cities in the first half of 2024, totaling 68,639 units. However, Metro Vancouver experienced a decline due to slow sales and high financing costs, with population-adjusted starts dropping from 58.0 to 45.6 per 10,000 population. The decrease was mainly…
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Condo Renovation Do’s and Don’ts
Develop a detailed plan, including budget and design goals, before starting your condo renovation. Allocate a budget that accounts for unexpected costs and allows flexibility throughout the renovation.
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The Impact of Vancouver Empty Home Tax
The Canadian housing market faces a severe imbalance, with supply lagging behind surging demand. Vancouver’s vacant home tax increased housing availability but did not spur new constructions or lower rents.
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Easy Money Era Ends for Metro Vancouver
Vancouver property taxes rose by 7.5% this year, with another 7% increase expected in 2025. Cities relied on rising Real Estate prices and development fees to freeze property taxes, but market conditions changed.
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Vancouver, Canada’s hottest rental market, is slowly getting cheaper
Vancouver remains the most expensive city in Canada for renters, with average rent for an empty one-bedroom apartment at $2,690, a 4.6% decline from last year. This marks the fourth consecutive month of decline for one-bedroom rents, the largest drop among Canadian cities. The average rent for a two-bedroom apartment is $3,800, down 2.6%. In…
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Balanced Greater Vancouver Market After Rate Cuts
There's a significant uptick in the number of properties listed, suggesting a well-supplied market.Indications of a cooling market as inventory rises without a corresponding increase in buyer activity.
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Vancouver seeks to fast-track social and co-operative housing
Vancouver is proposing significant changes to accelerate affordable housing development through the Social Housing Initiative, which aims to eliminate individual rezonings and expedite the construction of social and cooperative housing from six to 18 stories. This initiative supports non-profits in providing affordable homes for low- and moderate-income households, aligning with provincial legislation. Information sessions will…
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Potential of Laneway Homes in Vancouver’s Housing Market
Builder Advocates for Sales: Suggests allowing laneway home sales to potentially create 30,000 new units in Vancouver.Regulatory Limitations: Existing rules restrict laneway homes to rental purposes, reducing incentives for homeowners.
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