Blog & News: Vancouver Real Estate Market
October 12, 2017
The Tale of Two Housing Segments Continues in the Greater Vancouver Residential Real Estate Market
Affordability issues and mortgage regulations spur activity in the region’s entry-level market
Price gap between condominiums and two-storey homes continues to narrow, benefiting move-up buyers
VANCOUVER, October 12, 2017 – According to the Royal LePage House Price Survey 1 released today, sales activity and consumer confidence across the Greater Vancouver residential real estate market continued to recover in the third quarter of 2017. While home price appreciation softened in the...
July 13, 2017
Canada’s Residential Real Estate Market Makes the Move to Moderation in the Second Quarter of 2017
Greater Vancouver Home Price Appreciation Dips to Single-Digit Gains in Second Quarter of 2017
Low inventory coupled with an uptick in buyers maintain the region's seller's market
VANCOUVER, July 13, 2017 – According to the Royal LePage House Price Survey1 and Market Survey Forecast released today, the aggregate price of a home in Greater Vancouver rose 2.6 per cent year-over-year to an aggregate 2 price of $1,181,309 – a marked slowdown from the double-digit year-over-year home...
April 18, 2017
Canada’s Two Largest Real Estate Markets Head in Opposite Directions in the First Quarter of 2017
Over-heated Toronto market boils over into adjacent regions
Market slows in Vancouver, yet signs point to early rebound
TORONTO, April 18, 2017 – According to the Royal LePage House Price Survey released today, Canada’s residential real estate market saw substantial price growth in the first quarter of 2017. While the majority of Canadian housing markets posted modest gains, price appreciation across much of Ontario significantly outpaced the rest of the country,...
February 23, 2017
Budget 2017—BCREA News Release
Vancouver, BC – February 22, 2017. On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, takes effect today.
BCREA appreciates this government’s attention to the needs of first-time homebuyers. To keep pace with the dynamic real estate market...
February 15, 2017
BC Home Sales Return to Historic Average
Vancouver, BC – February 15, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 4,487 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, down 23 per cent from the same period last year. Total sales dollar volume was $2.79 billion, down 36.5 per cent from January 2016. The average MLS® residential price in the province was $621,093, a 17.5 per cent decrease from the same period last year.
October 18, 2016
Canada’s Housing Market Continues to Expand in Third Quarter in the Face of Regulatory Headwinds
Canada’s residential real estate market continued to grow in the third quarter of 2016, posting a double-digit year-over-year aggregate house price increase, according to the Royal LePage House Price Survey released today. The Government of British Columbia’s new 15 per cent property transfer surtax on foreign nationals and foreign-controlled corporations, introduced early in the quarter, has contributed to slower sales activity but has had little impact to-date on Greater Vancouver...
January 13, 2016
Pace of House Price Inflation in Toronto and Vancouver to Return to Earth in 2016
Canada’s residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national real estate market is expected to slow later this year, principally due to the effects of a dampened economy...