Real Estate

Green Party leader Andrew Weaver has been pushing for a ban on non-residents buying B.C. real estate – but B.C.’s Premier poured cold water on the idea January 16, just days before his trip to Asia to discuss trade.

January 17 saw the third Bank of Canada overnight interest rate rise in the space of just over six months, on the back of the strengthening economy.

The Bank of Canada raised its overnight interest rate by a quarter-point to 1.25 per cent January 17, on the back of the strengthening Canadian economy. This is the third time it has increased interest rates from the record lows seen until last July.

A flurry of real estate activity across the country last month led to a record being smashed, with the Canadian Real Estate Association (CREA) reporting the highest number of Canadian home sales on a seasonally adjusted basis for any month, ever.

It’s been two weeks since the new mortgage ‘stress test’ was introduced across Canada, and it’s already becoming clear that there are many people who will struggle under the new rules – and others who will benefit.

A newly-built, farmland mega mansion, owned by a shell company, has driven a 26.6-acre lot it sits on from an assessed value of $88,000 to $8.

The Teranet-National Bank National Composite House Price Index saw its first increase in four months in December – but that’s almost entirely due to the hot Vancouver market, Teranet reported January 12.

This stunning oceanfront home in Qualicum Beach on Vancouver Island can be your dream getaway for $2.78 million Canadian dollars, or the equivalent in bitcoin – however much that may be. Today (January 12) it is 163.

Of the 635 condos currently listed on the MLS® in Vancouver proper, the median unit is priced at $999,800. That's a mere $200 under the million-dollar mark that was the milestone price for all home types combined, not so long ago.

Home sales across BC were – very unusually – higher in December 2017 than in November, according to figures released January 12 by the British Columbia Real Estate Association (BCREA).