Category: Uncategorized
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Vancouver’s Housing Growth: 58K New Homes Planned
Vancouver's housing development pipeline now includes 58K new homes in various stages of approval or construction.In the first year of provincial targets, Vancouver completed 4,143 net new homes, falling 26% short.
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Early-Q4 Sales in Metro Vancouver up 30% After Rate Cuts
The Bank of Canada’s recent rate cuts boosted Real Estate markets in Metro Vancouver. October home sales in Greater Vancouver ↑ 30%, compared to 2023.
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Vancouver Buyers Rebound: Sales Jump 32%
Home sales in Greater Vancouver rose 31.9% in October compared to last year, suggesting a rebound. In October, Greater Vancouver recorded 2,632 sales, only 5.5% below the 10-year average for the month.
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Metro Vancouver Buyers to Benefit From Rate Reduction
The BoC has cut its key interest rate significantly to stimulate the economy. This reduction marks the fourth consecutive cut, aligning with falling inflation rates of 1.6%.
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Vancouver real estate markets set to normalize in 2025
Vancouver's real estate market is expected to stabilize by 2026, with growing confidence among tenants and investors. The downtown office vacancy rate is projected to approach the historical norm of 7% as no significant new supply is anticipated for four years. While capital investment is returning, residential development land remains challenged, with activity down 75%…
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Vancouver Plans 17 New Multi-Family Villages
Vancouver will transform 17 low-density residential areas into Villages, featuring low-rise multi-family housing for increased supply. Each Village, within 400 meters of retail streets, will permit buildings of 3 to 6 storeys.
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Key Trends Reshaping Canada’s Commercial Real Estate
The commercial Real Estate sector is recovering after five years of disruption and challenges. Inflation has dropped to 1.6%, improving the economic environment for Real Estate investments.
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Vancouver rents remain high above decreasing national prices
Average rents in B.C. have decreased by 3.4% compared to last year, with Vancouver still having extremely high rents. The national average asking rent in Canada is $2,152, marking the first year-over-year decline in three years. Despite the decrease, renting in Vancouver remains unaffordable, with one-bedroom apartments averaging around $2,700. Many residents are staying in…
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How Much It Costs to Live in Vancouver
Vancouver is ranked the priciest city in Canada, with high housing and living costs. A one-bedroom apartment averages $2,675, and a home costs around $1.2 million in Vancouver.
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Interest Rate Cuts Could Revive Vancouver Market
Vancouver’s housing market sales ↓ 5.7% yearly, totalling 2,783 units in September. Despite improved affordability, buyers remain cautious, awaiting further interest rate reductions and increased inventory.