Category: Uncategorized

Vancouver's Market Basket Measure has risen to $55,727, a testament to the city's vibrant economy and quality of life.The benchmark home price in Vancouver stands impressively at $1,161,300 in 2024, ↑ 25.9% growth over five years.

Buying a home in Vancouver has become extremely challenging, with affordability at crisis levels. In Victoria, the situation is also dire. RBC's report blames high interest rates and lack of affordable housing investment. The government is working on increasing housing near transit hubs to address the crisis. Continue to full article

Mortgage rates have been rising, impacting homebuyers and sellers. The Federal Reserve's tight monetary policy has led to higher borrowing costs. Experts believe the election won't affect rates significantly. Homebuyers should focus on long-term goals and be prepared for potential rate fluctuations. Continue to full article

Metro Vancouver rent prices show signs of slowing down heading into the spring. Despite declining costs, 4 of Canada's top 5 most expensive rental housing markets are in the region.

Investor interest in Vancouver commercial real estate remains strong, with Vancouver leading as the top Canadian market. Despite a significant decrease in transaction volume, investors are cautiously optimistic. The industrial market saw the highest investment, while the retail market experienced a notable decline. Continue to full article

Monthly payments become more manageable for young Canadians aiming for homeownership. Some advocate for broader eligibility, expressing concerns about effectiveness in high-priced markets.The industry expects a significant impact, potentially spurring more construction and aiding rental market relief.

Realtor Kim Lee discusses the upcoming new home-flipping tax in Vancouver, highlighting its potential positive impact on the housing market. She sees it as a step towards a more balanced and stable market, benefiting genuine homebuyers. Kim emphasizes the importance of informed decision-making for clients and believes the tax will lead to a healthier real…

Benchmark home price in Vancouver climbs ^4.5% to $1,183,300 (as of February 2024). This represents a ↑ 28% increase over the past four years.

In Vancouver, a solo buyer would need to save for 12.2-mo to afford the minimum down payment of $50,190. Condos are the most affordable property type, ideal for single-income buyers.