Blog & News: Vancouver Real Estate Market
February 20, 2018
Government Needs Transitional Rules For All Transactions Impacted By Taxes Introduced In Budget 2018
New taxes unlikely to stabilize housing market
Victoria, BC – February 20, 2018. The British Columbia Real Estate Association calls on government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) increase to 5% for properties over $3 million, as well as the increase to 20% and expansion of the Foreign Buyer's Tax to other parts of the...
February 5, 2018
Home buyer demand depends on property type
VANCOUVER, BC – February 2, 2018 – Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are facing less competition today.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.
Last month’s sales...
January 12, 2018
BC Home Sales Above 100,000 for Third Consecutive Year
Vancouver, BC – January 12, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 103,763 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) across the province in 2017, a decline of 7.5 per cent from a record 112,211 unit sales in 2016. The average MLS® residential price in BC was $709,579 in 2017, up 2.7 per cent from the previous year. Total sales dollar volume was $73.63 billion, down 5.1 per cent from 2016.
January 10, 2018
Low Inventory Levels Drive Home Values Higher in Greater Vancouver During the Fourth Quarter of 2017
While competition within the region's condominium market stiffened, two-storey home values came back to life during the quarter, posting strong year-over-year gains New Office of the Superintendent of Financial Institutions' rules boost price appreciation and sales activity in the region's overheated entry-level market
VANCOUVER, January 10, 2018 – According to the Royal LePage House Price Survey1 released today, exceptionally low inventory levels and growing demand fueled home price...
January 3, 2018
Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market
VANCOUVER, BC – January 3, 2018 – After reaching record levels in 2015 and 2016, Metro Vancouver* home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS® ) in 2017, a 9.9 per cent decrease from the 39,943...
December 13, 2017
2018 Royal LePage Market Survey Forecast
New OSFI Stress Test Set to Limit National Home Price Appreciation to 4.9% in 2018
December 13, 2017
- Impact of new stress test expected to be contained to first half of 2018 for most major markets
- Still risk of high price appreciation in Greater Toronto Area and Greater Vancouver as chance of market correction fades
- Compounding policies could have unintended consequences for struggling housing markets
TORONTO, December 13, 2017 – According to the Royal LePage Market...
December 12, 2017
Strong Economy Supporting Elevated Housing Demand
Vancouver, BC – December 12, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 7,731 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 20.4 per cent from the same period last year. Total sales dollar volume was $5.59 billion, up 39.1 per cent from November 2016.The average MLS® residential price in the province was $723,112, up 15.5 per cent from November 2016.
"November was the third ...
December 4, 2017
Metro Vancouver continues to experience above-average demand and below-average supply
VANCOUVER, BC – December 4, 2017 – Metro Vancouver saw modest home listing changes and steady demand in November.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.
Last month’s sales were 17 per cent above the 10-year November sales average....
November 28, 2017
Housing Market Facing Headwinds Despite Strong Economy
Vancouver, BC – November 28, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS® ) residential sales in the province are forecast to decline 10.4 per cent to 91,700 units in 2018, after an expected 8.8 per cent decrease this year. A record 112,209 unit sales were recorded in 2016. The ten-year average for MLS® residential sales in BC is 84,700 units. Strong economic and demographic...
November 6, 2017
Where are BC's Best Bets for Real Estate Investment?
Six of the top 10 cities are in the Lower Mainland, according to annual rankings.
The rapidly growing city of Surrey is once again ranked as the best bet to invest your buck in real estate, according to an annual ranking by the Real Estate Investment Network (REIN).
The 2017 survey identifies the top 10 cities in the province for real estate investment, based on REIN's research. REIN's methodology includes "all economic and demographic fundamental key drivers combined...