Zanyar Farhadi’s Blog
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Vancouver ends 2023 with average home price up 5% at $1.17M
Vancouver ended 2023 with a 5% increase in average home prices, reaching $1.17 million. Despite high borrowing costs, December home sales rose compared to the previous year. However, sales remained below the 10-year seasonal average. The Real Estate Board of Greater Vancouver reported 1,345 homes changing hands in December, a 3.2% increase from the same…
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Vancouver Market Forecast 2024: Pent-up Demand Meets Falling Rates
Metro Vancouver to see continued decline in sales through late 2023 and early 2024 due to higher borrowing costs. Over 20K potential buyers sidelined by interest rate hikes could return to the market in 2024 as rates fall.
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Vancouver Real Estate Trends in 2024: Surging Supply & Prices
Experts expect increased new supply in Vancouver's Real Estate market for 2024, though it may not directly lower home prices.New residential housing construction ↑ 37% in 2023, potentially ↑ supply in the Real Estate market.
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New Insights on Vancouver Housing for 2024: Predictions and Trends
Real estate expert predicts a continued demand for diverse housing options in established neighborhoods and a greater focus on affordability in Vancouver's 2024 housing market. The use of "mass timber" and offsite manufactured housing is expected to rise. Minimum parking regulations may be scrapped, but off-street parking will remain necessary. Home-sharing could help address the…
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Vancouver’s Early-Winter Leasing Overview
The median rent for a 1-bed in Vancouver was $2,730 in December. It was ↓ 1.8% MoM, but ↑ 10.5% yearly.
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Vancouver Receives $115M From Federal Housing Accelerator Fund
The City of Vancouver has been approved for $115M from the Housing Accelerator Fund to fast-track the construction of over 3,200 new housing units. The funding will also support the construction of 40,000 homes over the next 10 years. The government aims to promote high-density development, streamline re-zoning laws, and expand affordable rental programs. The…
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Vancouver housing: Monthly rental costs in January 2024
Metro Vancouver's average rental prices have increased for the first time in months. The cost of renting a one-bedroom apartment has risen by $26 from December 2023 to January 2024. West Vancouver is now the most expensive city to rent in Canada, surpassing Vancouver. Unfurnished one-bedroom units are $121 cheaper on average than furnished ones.…
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New Listing: 216 10788 NO. 5 ROAD
Welcome to "Calla at The Gardens", a stunning eight-level concrete building in South Richmond. This one-bedroom unit, +1Den, features a modern kitchen, high-quality appliances, and radiant bathroom floor heating. The building is only six years old and is still under warranty. In addition to the beautiful living space, it offers recreational facilities such as a…
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How Will Vancouver Use $115M for Housing?
$115M allocated for 3,200 housing units in Vancouver over a 3-yr period. Funding objectives include high-density development, transit-centric housing, and streamlined rezoning processes. Efforts focus on permit system upgrades, reduced assessment times, and simplified development conditions.
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2024: The Year of Skyrocketing House Prices in Metro Vancouver
Metro Vancouver's home prices will see ↑ 3% to $1,281,732 this year. Detached properties will ↑ 2.5% to $1,778,785.
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