Developer pitches plan for 50,000 units of affordable housing in Toronto, Vancouver

The federal government is looking at a real estate developer’s proposal to build 50,000 units of affordable housing primarily in Toronto and Vancouver — a plan valued at as much as $14-billion that could become a big part of Ottawa’s national housing strategy. According to a proposal submitted to Ottawa, the project would be led by the Creative Housing Society, an independent non [...]

14 March 2018

$500K is no longer enough to buy a new condo in Vancouver, survey finds

A national condo survey was unable to find any new condos selling for less than half a million dollars in Vancouver. The survey, conducted by Atlus Group, compared what $500,000 would buy in new condo markets across Canada in 2017. Vancouver was the only city in which researchers were not able to find any units at that price point or below. "Buyers would need to go into nearby m [...]

15 February 2018

Home prices rise on gains in Vancouver, Victoria

Canada's housing market saw prices rise on a national basis in January, but the growth was almost entirely due to strength in Vancouver and Victoria. The Teranet-National Bank National Composite House Price Index, which measures sale prices in 11 major markets, rose 0.3 per cent in January over December. Teranet said the price bounce was not widespread, however, with only four markets [...]

15 February 2018

Obituary: Real-estate analyst Richard Wozny fought for justice on housing and taxes

One of B.C.’s leading real-estate analysts, Richard Wozny, whose passion for housing justice was set out in a Jan. 27 column in The Vancouver Sun, died on Wednesday, surrounded by family. He was 62.Wozny, who had been receiving treatment for non-smoking lung cancer for 18 months, received wide praise for devoting his fading energy to exposing the dangers of excessive, largely untaxed forei [...]

06 February 2018

Metro Vancouver housing prices to rise in 2018

The BC Real Estate Association’s (BCREA) fourth-quarter housing forecast said housing sales will slow in 2018, but prices will rise. “In 2018, there are going to be some headwinds in the housing market, primarily some higher interest rates, also tighter mortgage qualifications applying a stress test to conventional mortgages,” said BCREA chief economist Cameron Muir.“We [...]

22 December 2017

Vancouver real estate: White Spot site on West Georgia sells for whopping $245 million

The high-profile White Spot site on West Georgia has been sold for a reported $245 million, which is among the highest prices paid for residential real estate in Vancouver, according to real estate officials involved in the sale.The restaurant site and adjacent parking lots are zoned for at just under 398,000 square feet of residential space. At a sale price of $245 million, that works out to more [...]

22 December 2017

Mount Pleasant nabs another tech tenant

The Mount Pleasant neighbourhood will soon add a major gaming firm to what is becoming a high-tech hub in Vancouver. Relic Entertainment, one of Vancouver’s oldest gaming companies, will move to a new head office at 285 West 5 Avenue, the former Hudson Plating site. PC Urban Properties Corp. will transform the once low-density, heavy industrial site into a 71,000 square-foot office bui [...]

24 November 2017

Bosa office tower sells out at $2,000 per square foot

When word started swirling in Vancouver last week that the Bosa Waterfront Centre office tower had sold in three days at prices topping $2,000 per square foot, the news was greeted with incredulity.“I simply don’t believe it,” said Ozzie Jurock, a noted Vancouver real estate consultant and investor. Turns out the original rumours were a bit off, but the facts remain mind-boggling, [...]

16 November 2017

3 Frightening Things in Sellers' Homes That Can Scare Buyers Silly

Having a beautiful home in an exquisite environment is not a most suitable reason for buyers to show interest, it could contain an item or two that happens to scare the pants off anyone who walks through your door. That might not really be an issue if you don't like guests, but it could very well be a big problem if you're trying to sell your place! The raw truth is that it doesn't take much [...]

18 October 2017

Prime Lower Mainland real estate markets still reeling from foreign-buyer tax

A year after the introduction of Canada’s first foreign-homebuyer tax drove Metro Vancouver sales down 44%, the three most popular markets for foreign buyers have yet to recover.West Vancouver, Richmond and Vancouver’s west side – all areas with the highest proportion of foreign buyers prior to the implementation of the 15% tax on August 2, 2016 – are all seeing lower sales now than in 201 [...]

26 September 2017

No, Montreal Real Estate Is Not The Next Vancouver Or Toronto. Here’s Why

Montreal real estate isn’t hot, and it’s not being driven by foreign buyers fleeing Toronto and Vancouver. There’s significant media coverage on how Montreal is the new real estate hot spot, especially in the luxury segment. It’s certainly attention grabbing, so we pulled some sales data from the Canadian Real Estate Association (CREA) and the Greater Montreal Real Estate Bo [...]

23 September 2017

Rising prices push out long-time Vancouver residents

Sarah Lindsay's 1903 character house near the corner of East Broadway and Carolina is like a little hideaway, tucked between old commercial buildings, and surrounded by condos in various stage of development.It is one of the last remaining heritage houses on busy East Broadway, and the corner parcel on which it sits, which includes two other buildings – a sushi restaurant and bott [...]

23 September 2017

Douglas Todd: Tax avoidance behind Metro's disconnect between housing, income

After census figures this week revealed alarming gaps between housing costs and average incomes in Metro Vancouver, veteran real-estate analyst Richard Wozny is preparing a speech for B.C. politicians that blames the disparity is in part on tax avoidance.A reason why residents of Metro Vancouver municipalities with expensive housing tend to report lower incomes than people in less-costly municipal [...]

15 September 2017

Three Little Details That Will Make a Big Difference in Your Next Home Improvement Project

If you’ve ever remodeled a room in your home, you know just how much goes into the planning process. However, even the most well-planned projects sometimes end up missing the details, but it’s those details that can really make or break the final result. Here are three little details that are often overlooked that will have a surprisingly big impact on your next home improvement project. [...]

13 September 2017

Average Canadian mortgage balance up nearly 5% year-over-year: TransUnion

TORONTO – TransUnion Canada says the average amount owing on mortgages was up nearly five per cent in the second quarter, even though a change in Ontario regulations last spring appears to have reduced the volume of home sales.The credit monitoring agency says the average mortgage balance in this year’s second quarter was $198,781, up 4.8 per cent from that period last year. Tran [...]

24 August 2017

Realtors who break rules should face tougher penalties, Ontario association says

The Ontario Real Estate Association (OREA) is advocating that fines should be doubled for realtors who break the rules, at a time when agents are collecting big commissions in the province's inflated housing market. In a white paper published Wednesday, the association proposed that the maximum fines for salespeople who violate a code of ethics under the Real Estate and [...]

24 August 2017