Category: Uncategorized
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Vancouver Condo Market Faces Cooling Trend
Vancouver's condo market faces a slowdown due to high costs, rising interest rates, and reduced demand. Developers struggle with unsold inventory and cautious lenders, halting new projects in key Canadian markets.
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Rent decides the “winner” in cost of living battle between Vancouver and Toronto
Vancouver is generally more expensive to live in than Toronto, primarily due to higher rent prices, which are 14.5% greater in Vancouver. To maintain a similar standard of living, one would need about $9,372.40 in Vancouver compared to $8,800 in Toronto. While rent is pricier in Vancouver, dining out is more costly in Toronto. Grocery…
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Check out my listing Address: 23936 KANAKA Maple Ridge, British Columbia V2W0H7
NO STRATA FEES, which means NO STRATA RULES for this Executive style Row home, built by award-winning Foxridge Homes. This spacious and bright 4 bdrm plus bonus flex room/office offers a great layout, including a gourmet kitchen with quartz countertops, top-of-the-line stainless steel appliances (replaced in 2021) and deluxe cabinetry. Open concept living with main…
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Are Falling Metro Vancouver Prices a Sign of What’s Ahead?
Metro Vancouver’s housing market sees rising inventory and declining prices, signaling a possible shift in dynamics. In October 2024, Metro Vancouver reported a 31.9% increase in residential property sales year-over-year.
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The federal government’s housing strategy is failing Vancouver’s most vulnerable
Federal Housing Minister Sean Fraser announced over $574 million to build 953 new rental homes in Vancouver, but 80% of these units are for households earning over $87,000, leaving low-income individuals at risk of homelessness. National Housing Day highlights the urgent need for action, as homelessness has increased by 20% since the National Housing Strategy…
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Vancouver’s Housing Growth: 58K New Homes Planned
Vancouver's housing development pipeline now includes 58K new homes in various stages of approval or construction.In the first year of provincial targets, Vancouver completed 4,143 net new homes, falling 26% short.
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Vancouver Buyers Rebound: Sales Jump 32%
Home sales in Greater Vancouver rose 31.9% in October compared to last year, suggesting a rebound. In October, Greater Vancouver recorded 2,632 sales, only 5.5% below the 10-year average for the month.
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How Much It Costs to Live in Vancouver
Vancouver is ranked the priciest city in Canada, with high housing and living costs. A one-bedroom apartment averages $2,675, and a home costs around $1.2 million in Vancouver.
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Vancouver on track to meet provincial housing targets
The City of Vancouver's first Annual Progress Report shows that the development pipeline is on track to meet provincial housing targets. From October 2023 to September 2024, 4,143 new housing units were completed, achieving 80% of the year-one target. With 58,100 units in development, projections exceed the five-year target of 28,900 units. Vancouver leads in…
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Metro Vancouver Buyers to Benefit From Rate Reduction
The BoC has cut its key interest rate significantly to stimulate the economy. This reduction marks the fourth consecutive cut, aligning with falling inflation rates of 1.6%.