By continuing to use our site, you agree to our Terms of Service and Privacy Policy. BY K Milley. VICTORIA -- Vancouver Island’s real estate market is showing signs of recovery as B.C. REBGV reported a benchmark price of $995,200 in July, down 9.4% from last year. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 1, Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy, Average house price in Greater Vancouver set to jump nearly 10 per cent in 2021, report says, A house once owned by a member of the Group of Seven is for sale in B.C. Royal LePage's forecast is more upbeat than most, including CMHC and some of the biggest banks, With no sports on big screen TVs, no tourists or seasonal events, and no office workers to attend lunches and parties, restaurants that usually ring up big holiday sales in December are instead shutting up shop. The real estate market in Vancouver had its best September on record this year in terms of the number of homes sold. Join the mailing list to receive daily email updates. Buying a Home. 's real estate sales is coming from outside Vancouver, especially in the Fraser Valley and the Okanagan. Vancouver real estate: detached homes priced below $1.5 million benchmark show some affordability left in market by Carlito Pablo on December 20th, 2020 at 11:30 AM 1 of 3 2 of 3 VANCOUVER (NEWS 1130) – Historically low mortgage rates and the desire for more space to work from home have powered up real estate markets across … Vancouver Housing Market October 2020 Report VANCOUVER, BC – November 3, 2020 – Home sale and new listing activity remained at near record levels across Metro Vancouver* in October. Subscribe to our newsletter. 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The start this week of a “hidden ownership” registry in B.C.had lawyers and notaries public going through the first live test of filing to meet the new requirements on one of the busiest end-of-the-month days in recent memories. VICTORIA -- The latest report from the Canada Mortgage and Housing Corporation (CMHC) shows that despite the pandemic, the Victoria real estate market … Analysis: The relatively few people who can afford west-side houses tend to be satellite families, says researcher Andy Yan. We expect more to come next year. In the City, the benchmark for Vancouver East fell to $1,034,500, down 9.5% from last year. The COVID-19 pandemic has altered the needs of B.C. Today, they’re worth $3,360,000, Analysis: From online shopping to skyrocketing commercial property values, higher taxes and rents, UBC’s ‘city’ growth, gentrification and yes, the pandemic, many factors are at play, COVID-19 may ultimately have a positive effect on building design and urban living. 's new 'hidden ownership' registry. Real Estate News. Buying a Home. Find the best places within the city of Vancouver. How To Tell If A House Has Good bones. says land registry is open and will help combat money laundering, 11,000 condos added to Metro Vancouver's rental market thanks to vacancy taxes: CMHC study, Vancouver's empty home tax is increasing to 3% next year, Data scan finds more than half of Vancouver Airbnbs are breaking city rules, Property tax hike of 5% proposed as part of City of Vancouver budget, Property tax hike plus a special levy: Here's a quick look at Surrey's proposed budget. The number of downtown Vancouver condos listed for sale, but not sold, had been on the rise for some 10 months, but in November there was a wee glimmer of improvement. continues along its restart plan. Price Reduced . Now more than ever, B.C. Get the latest news affecting Metro Vancouver’s real estate market. Sales of single-family detached homes on Vancouver … for $799K, Have $25M to spare? These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. If the dispute over the adoption of the neighbourhood plan ends up in court, it wouldn’t be the first legal challenge to a University Endowment Lands decision. housing market to remain vibrant through the new year: report. VANCOUVER (NEWS 1130) – Don’t believe the hype. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Metro Vancouver. © 2020 Vancouver Sun, a division of Postmedia Network Inc. All rights reserved. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. From local businesses to food to medical to legal services. Real Estate; B.C. Last year in Metro Vancouver the Greater Vancouver real estate board showed one of the hottest years. Vancouver’s Empty Homes Tax increases to three per cent View more news. The pandemic will punish Prairie house prices the most in Canada, but even hotspots Toronto and Vancouver will see prices drop on the back of rising rental market vacancies and lower immigration rates, according to a new report. A healthy supply is anticipated for the downtown core and low interest rates will continue to impact housing activity. A new market report by Vancouver-based Dexter Realty shows that 2020 will finish with a bang. Opinion: The lawsuit illustrates numerous trends involved in the way global capital pours into Metro Vancouver real estate. Vancouver Real Estate Market at a Glance. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Posted on Oct 22, 2020 in Vancouver Real Estate News It’s no surprise that the Detached Market is certainly on the hot side. For example, the BC Real Estate Association (BCREA) economist, BCREA is a real estate industry advocacy organization, predicts Greater Vancouver prices will rise 6% in 2021. A new report from Central 1 Credit Union suggests Metro Vancouver’s housing market could be bouncing back faster than anticipated. families, as homes have suddenly become a workplace, a school, an entertainment centre and a refuge. That’s a real estate tracker’s warning about claims home sales in Greater Vancouver are climbing up again. Buyers & Sellers. Recently from Our Blog. Home sales and listings surged in September, according to the latest numbers from the Real Estate Board of Greater Vancouver. The highest forecast in a September Reuters poll of 16 economists was price growth of 2% in 2021, while the lowest prediction called for a 13% drop. This advertisement has not loaded yet, but your article continues below. Large funds are interested in buying apartment buildings, but housing advocates have concerns, Opinion: ‘Significant sums of foreign capital that have been excluded from official statistics’ behind the disconnect, new peer-reviewed study out of SFU shows. jail, Quebec beats single-day record of new COVID-19 cases for third time in four days, with 2,183, Kremlin mocks foe Navalny over alleged underwear poison plot, Fox, Newsmax shoot down their own claims on U.S. election after threat of legal action, Trump orders U.S. government to only construct 'beautiful' buildings, 'Fighting for our lives': Canada's theatre industry tries to plan for uncertain 2021, K.T. Unauthorized distribution, transmission or republication strictly prohibited. Average house price in Greater Vancouver set to jump nearly 10 per cent in 2021, report says Next year is shaping up to be a seller’s market, according to real estate company Royal LePage. Breadcrumb Trail Links. We are your premier source for buying, selling and investing in Vancouver’s Real Estate Market. Real estate trends in the Vancouver market, Tax hike, levy increase approved in Surrey, Strathcona tent city affecting real estate market, July marked record high for home sales amid ongoing pandemic, COVID-19 has changed how we think about real estate: survey, Pakistani rights activist's death in Toronto 'non-criminal', police say, 10 correctional officers charged following death of Indigenous man in N.L. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase… The institution’s 2019-2021 B.C. Real Estate News. Considering the economic changes that are felt by … PreSale Incentives - Shop Before You Buy. Lots & Land. 3/4/2020. real estate: Markets outside Vancouver driving detached home sales, Canadian home prices seen rising 5.5% in 2021, with biggest gains in Ottawa, Vancouver, Restaurants cut hours, close in downtown Vancouver, hopeful for return of workers, Dan Fumano: 'Every problem is a housing problem' that shouldn't be left to municipalities, This Vancouver couple made a fortune in Apple shares — now they have to turn it into a stable retirement, Douglas Todd: The hollowing out of Vancouver’s west side (Part 1), Developer rethinks Burnaby Metrotown project with ‘healthier, safer’ redesign, Vancouver real estate: Downtown condo listings drop for first time in months, Canadian home prices to fall up to 5% in 2021, Fitch predicts, Prices surge for B.C. The numbers don’t lie. CTV News Channel, Next year is shaping up to be a seller’s market, according to real estate company Royal LePage. Vancouver housing market to continue as a seller’s market in 2021, prices expected to rise 4%. Residential and land sales so far this year in the city of Vancouver … Dane Eitel, the founder and lead analyst of Eitel Insights, says the market will get worse next year. Real estate market news in British Columbia has not changed in the last 4o years: The housing market and home prices keep going up. ... November 2020 Market Insights Thursday, December 10, 2020. Analysis: What lessons can Vancouver learn from San Francisco, where a severe housing crisis has become a cautionary tale for other cities? condo owners amid rising premiums, B.C. housing market to remain vibrant through the new year: report, The world's CFOs have a dire message for real-estate investors, Metro Vancouver real estate remains at moderate risk of price correction : CMHC, Vancouver real estate: Commercial investment down 22 per cent, Douglas Todd: The hollowing out of Vancouver’s west side (Part 2 — the ‘weird place’), B.C. Covid-19 pandemic extended in B.C latest numbers from the same period last year your content including., but your article continues below is showing signs of recovery as B.C the global... Is coming from outside Vancouver, the benchmark for Vancouver East fell to $ 1,034,500, down %... Is still stable, 2020 signs of recovery as B.C from outside Vancouver, in! Rental Development in Burnaby, B.C mailing list to receive daily email updates is still.. 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