Category: Uncategorized
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Vancouver Faces Housing Market Challenges Amid Rising Costs
Vancouver's housing market is facing challenges due to rising home prices and increased property taxes, which have risen by 7.5% recently, with another hike proposed for 2025. Many development projects have stalled as costs soar and prices fall, making them financially unviable. Local leaders are considering slowing population growth to manage infrastructure demands, but aging…
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New Sunrise Village affordable homes being built in Vancouver
Construction has started on 146 new affordable rental homes at Sunrise Village in Vancouver, located at 2924 Venables St. The project will feature two six-storey buildings, replacing a 64-unit low-rise. It will provide 82 net-new affordable units, with former tenants given the right of first refusal. Set to open in 2027, the development will include…
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Where to Buy a Home for Under $1M in Metro Vancouver
In Uptown, New Westminster, the benchmark price is $617K, with a 5-yr price growth of 29%. Mid Meadows in Pitt Meadows offers homes at $787K, showing a 33% increase over 5-y.
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Housing construction slowdown hitting Vancouver
Housing construction in the Vancouver area has significantly declined, with a 15% drop in new housing starts in July 2024 compared to the previous year. Factors such as high interest rates, rising construction costs, and permitting delays are hindering development, despite government efforts to increase housing supply. Predictions indicate further declines in housing starts, with…
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Vancouver Considers Putting Housing Before Mountain Views
Vancouver city councillors will debate easing view protection rules to allow more construction. Proposals aim to add 200M sq ft for future housing, hotels, and offices.
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Federal government supports 146 affordable homes in Vancouver
The Hastings-Sunrise neighbourhood in Vancouver will soon see the construction of 146 new affordable homes for seniors, families, and people with disabilities through the Sunrise Village project. This initiative is a collaboration among various government levels and Brightside Community Housing, with funding totaling over $56 million. The project will replace an aging building and is…
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Rent or Own? The Path to Owning Your Home
Weigh Flexibility vs. Investment: Renting offers flexibility, while buying builds equity and offers tax benefits. Consider Long-Term Stability: Buying is better if you plan to stay in one place for many years.
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Vancouver home sales slid 5% in July, compared to year ago
Calgary home sales fell 10% year-over-year, with 2,380 properties sold in July. The benchmark price for all home types was $606,700, nearly 8% higher than last year. The Calgary Real Estate Board noted that while there is a struggle with lower-priced home supply, increased options in new and resale markets are stabilizing price growth. In…
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Vancouver Sets Goal of 83,000 New Home Approvals by 2033
The City of Vancouver disagrees with the provincial government's method of tracking new housing supply. Vancouver prefers tracking approvals (when permits are granted) instead of completions (when homes are built).
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Vancouver Slips in Global Liveability Rankings
The liveability index shows Vancouver dropping from 5th to 8th place, attributing this decline to the housing shortage. Vancouver's overall livability score was 96.6 out of 100.