Real Estate News

More sellers but fewer buyers. That was the story in Delta and throughout Metro Vancouver’s real estate scene last month.

Metro Vancouver home sales saw the coolest April for 17 years, with the Real Estate Board of Greater Vancouver (REBGV) admitting that “market conditions are changing.

CIBC announced Tuesday (May 1) that it would be following TD Bank and RBC’s recent moves in raising its fixed mortgage rates, with a 15 basis-point increase taking its five-year fixed rate to 5.14 per cent.

Average (but not benchmark) home prices have seen a recent decline in Metro Vancouver, the Greater Toronto Area and various other regions across Canada – a fact that is cheered by many hoping for better affordability.

More than seven in 10 Canadian first-time home buyers (71 per cent) are afraid that they’ll be hit by unanticipated costs during the process, according to a new survey by TD Bank.

Vancouver- and Richmond-based architectural firm Haeccity Studio has won an open design competition seeking innovations to improve the supply of “missing middle” housing in Metro Vancouver.

Metro Vancouver’s housing market has been assessed as “highly vulnerable” for the eighth consecutive quarter by the Canada Mortgage and Housing Corporation (CMHC).

The average home square footage that “peak millennials” – currently 25-to-32-year-olds – can afford to buy is typically 12 per cent smaller in Greater Vancouver than it was a year ago, according to a Royal LePage survey released April 26.

Even with good intentions, appropriate funding and expedited permitting processes, there simply aren’t enough construction tradespeople to build all the homes required to meet B.C.'s housing targets, according to a group of industry experts.

A crackdown on non-payment of taxes on presale condo flips is one of three new housing measures announced by the finance minister April 24.