Real Estate SnapShot

Has an overzealous B.C. government imperilled 12,000 rental units?

(October 16, 2018)

The British Columbia government is coming down hard on landlords, including condo investors, and there’s mounting fear that 12,000 much-needed rental units in Metro Vancouver are imperilled.

David Goodman, principal of HQ Commercial and one of the Goodman Report’s publishers, told CREW that the units, which total around $5bln, might not get built if so long as landlords remain in the government’s c... read more.

B.C.'s first rental-only zoning bylaw takes shape

Burnaby council passes first reading of a new framework for its zoning bylaws, as expert warns of challenges

(October 12, 2018)

As the City of Burnaby charges ahead with plans to become the first B.C. municipality to use new rental zoning powers, a local housing expert warns the plan is likely to run into unexpected challenges.

“It’s the first one on the beach that gets shot,” said Andy Yan, director of Simon Fraser University’s City Program.

The province gave B.C. municipalities the power to zone for rental housing in May a... read more.

CMHC releases Sept. housing starts data

(October 09, 2018)

The annual pace of Canadian housing starts fell to their lowest level in nearly two years in September.

Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate came in at 188,683 units last month, down from 198,843 in August.

Thomson Reuters Eikon says economists had expected an annual rate of 210,000 for September.

September marks the third straight monthly decline.

The slowdown in... read more.

More supply and less demand seen across Metro Vancouver housing market

(October 02, 2018)

The supply of homes for sale continued to increase across the Metro Vancouver* housing market in September while home buyer demand remained below typical levels for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 1,595 in September 2018, a 43.5 per cent decrease from the 2,821 sales recorded in September 2017, and... read more.