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Competition among buyers in Metro Vancouver’s housing market heats up as summer arrives

VANCOUVER, BC – May 2, 2023 – With listing activity remaining below historical norms, home sales in Metro Vancouver1 have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,7412 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded in April 2022, and 15.6 per cent below the 10-year seasonal average (3,249).

“The fact we are seeing prices rising and sales rebounding this spring tells us home buyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling,” Lis said. “The latest MLS HPI® data show home prices have increased about five per cent year-to-date, which already outpaces our forecast of one to two per cent by year-end. The year is far from over, however, and it remains to be seen if these price increases will be sustained into 2024.”


There were 4,307 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2023. This represents a 29.7 per cent decrease compared to the 6,128 homes listed in April 2022, and was 22 per cent below the 10-year seasonal average (5,525).


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,790, a 4.2 per cent decrease compared to April 2022 (9,176), and 20.9 per cent below the 10-year seasonal average (11,117).


Across all detached, attached and apartment property types, the sales-to-active listings ratio for April 2023 is 32.7 per cent. By property type, the ratio is 24.4 per cent for detached homes, 40.1 per cent for townhomes, and 37.4 per cent for apartments.


Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“When we released our market forecast in January, we were one of the only organizations taking the contrarian view that prices were likely to appreciate in 2023,” Lis said. “And what we’re seeing unfold so far this year is consistent with our prediction that near record-low inventory levels would create competitive conditions where almost any resurgence in demand would translate to price escalation, despite the elevated borrowing cost environment. At the crux of it, the issue remains a matter of far too little resale supply available relative to the pool of active buyers in our market.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,170,700. This represents a 7.4 per cent decrease over April 2022 and a 2.4 per cent increase compared to March 2023.


Sales of detached homes in April 2023 reached 808, a 16.3 per cent decrease from the 965 detached sales recorded in April 2022. The benchmark price for detached properties is $1,915,800. This represents an 8.8 per cent decrease from April 2022 and a 2.9 per cent increase compared to March 2023.


Sales of apartment homes reached 1,413 in April 2023, a 16.5 per cent decrease compared to the 1,693 sales in April 2022. The benchmark price of an apartment property is $752,300. This represents a 3.1 per cent decrease from April 2022 and a two per cent increase compared to March 2023.


Attached home sales in April 2023 totalled 500, a 13.5 per cent decrease compared to the 578 sales in April 2022. The benchmark price of an attached unit is $1,078,400. This represents a 6.1 per cent decrease from April 2022 and a 2.1 per cent increase compared to March 2023.


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Competition among buyers in Metro Vancouver’s housing market heats up as summer arrives

While the year started slower than usual, Metro Vancouver’s housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,411 in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, and a 1.4 per cent decline from the 10-year seasonal average (3,458).

“Back in January, few people would have predicted prices to be up as much as they are – ourselves included,” Andrew Lis, REBGV’s director of economics and data analytics said. “Our forecast projected prices to be up modestly in 2023 by about two per cent at year-end. Instead, Metro Vancouver home prices are already up about six per cent or more across all home types at the midway point of the year.”

There were 5,661 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2023. This represents an 11.5 per cent decrease compared to the 6,397 homes listed in May 2022, and was 4.3 per cent below the 10-year seasonal average (5,917).

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,293, a 10.5 per cent decrease compared to May 2022 (10,382), and 20.6 per cent below the 10-year seasonal average (11,705).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2023 is 38.4 per cent. By property type, the ratio is 28.5 per cent for detached homes, 45 per cent for townhomes, and 45.5 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“You don’t have to squint to see the reason prices continue to increase. The fundamental issue remains that there are more buyers relative to the number of willing sellers in the market. This is keeping the amount of resale homes available in short supply,” Lis said. “And in a surprising twist, MLS® sales in May snapped back closer to historical averages than we’ve seen in the recent past, despite mortgage rates being where they are now, and new listing activity having been slower than usual this spring. If mortgage rates weren’t holding back market activity so much right now, I think our market would look a lot like the heydays of 2021/22, or even 2016/17.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,188,000. This represents a 5.6 per cent decrease over May 2022 and a 1.3 per cent increase compared to April 2023.

Sales of detached homes in May 2023 reached 1,043, a 30.7 per cent increase from the 798 detached sales recorded in May 2022. The benchmark price for a detached home is $1,953,600. This represents a 6.7 per cent decrease from May 2022 and a 1.8 per cent increase compared to April 2023.

Sales of apartment homes reached 1,730 in May 2023, a 7.9 per cent increase compared to the 1,604 sales in May 2022. The benchmark price of an apartment home is $760,800. This represents a two per cent decrease from May 2022 and a 1.1 per cent increase compared to April 2023.

Attached home sales in May 2023 totalled 608, a 16.7 per cent increase compared to the 521 sales in May 2022. The benchmark price of an attached home is $1,083,000. This represents a 4.7 per cent decrease from May 2022 and a 0.2 per cent increase compared to April 2023.


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Just listed! Beautiful family home at 2075 W 48 Ave Vancouver


Beautiful Family Home for Sale in Kerrisdale, Vancouver


We are excited to bring this family home to market this week! 


This is the family home you've been waiting for. This home is located at 2705 W 48 Ave in fantastic Kerrisdale, Vancouver just steps away from the  Arbutus Greenway, schools, and shopping. 


Nicely renovated and move-in ready, this five-bedroom home offers so much for the growing family. House features spacious rooms, high ceilings on the main level, and a private sundeck & yard area.


Property features studio space, sundeck, large attic, and more 

Bonus is the converted Garage into a Studio ideal for the kids to hang out. Upstairs there are 3 good sized bedrooms plus an additional Flex room which can be an office, sitting room, or whatever you want. Drop-down stairs lead to a 521 sq ft attic that is fantastic for storage.


The basement level of the home has an Unauthorized 2 bedroom self-contained suite, which is a great mortgage helper or a perfect in-laws suite for grandparents. Don't miss this home, it will go fast. All views are by appt only starting Wed March 10th - contact your realtor today to set up a time to view it! 


MLS #R2547002


View the listing on our website: http://ow.ly/xQhC30rzS0s

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Forget Canada Day and the 4th of July; if there’s one National ‘holiday’ that’s gone international, it’s St. Patrick’s Day! Despite its Irish Catholic origins, the deeper meaning behind March 17th festivities has given way to a reason to let loose and party like the Irish. So in celebration of all things Celtic, here’s a list of the Top 5 things to do around Vancouver for St. Patrick’s Day.


Pick a Pub

Vancouver isn’t short on good watering holes, and when it comes to Irish pubs, we have a few of the best on the West Coast. So in keeping with tradition, raise a pint to St. Patty at one of these fine establishments:


Doolin’s Irish Pub (654 Nelson St) features live music.

The Irish Heather (210 Carrall St) is a Gastown landmark and also has a Whiskey bar

Dubh Linn Gate Irish Pub (1601 Main St) will have an all-day St. Patty’s day party with live music and Irish dancers

Mahony & Sons Pub for a good Irish time, choose from its 3 locations.


St. Patrick’s Day Eve Party + Festival at The Blarney Stone

Just like their poster promises, be the first person at The Blarney Stone for the big day by spending St. Patrick’s Day Eve partying with live music and a balloon drop at midnight. Then, join their St. Patrick’s Day Festival from 9am - 3am, March 17th. The Blarney Stone will be serving up fun for the whole family. Live music, face painters, entertainment and Irish inspired food.


Catch a Play for St. Paddy’s Day

For something a little different, forgo the drinks in favour of entertaining stage plays--with an Irish twist. Catch the darkly comic Almost a Stepmom at the Havana Theater and Belfast Girls at the Cultch as part of Celtic Fest.


CelticFest 2017

This annual tradition brings East and West Vancouver together with various celebrations going on around town. From pub crawls to plays, and a Celtic Village in Robson Square Friday the 17th - Saturday the 18th, check the official CelticFest website for a complete schedule of the 9-day event and to get your tickets.


St. Patrick’s Day 5K

It’s not too late to sign up for the BMO St. Patrick’s Day 5K Saturday, March 18th. Save your drinking plans for a toast post-race and feel good about those extra pints you plan to have!


Cheers! Or as the Irish say, Slainté!


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Love it or hate it, a fact of corporate life is the obligatory holiday office party. Whether you look forward to this annual event or drag your RSVP out to the last minute, this year, break the office party mold and celebrate the holidays like a pro with these etiquette tips.


Get Social

Don’t hang around the food all evening! Break social barriers between departments and introduce yourself, or your immediate coworkers, to others in the company; it’ll liven up the evening for everyone involved. The key to a good introduction is making it memorable. Add an anecdote, play with mnemonics, and always make it accurate and sincere.


Make a Statement

So you’ve exited your comfort zone and spoken with people you don’t know, now it’s time to decide how much you really want to party. Keep in mind: this is still a business holiday event, so keep it fun but tasteful. This is your chance to shine outside-the-box, so play up your strengths. While being master of the dance floor is one thing, boozing it up is quite another. Don’t be the one that’s had too much to drink. Do be the one they’ll want to seek out at next year’s party.


What Did the Invite Say?

You don’t want to be remembered for wearing your ugly Christmas sweater to the semi-formal. Pay attention to the details: start and end times, dress code, and if a Secret Santa gift* is required.

 

*Side note: choosing your own gift in the present exchange is probably frowned upon! See: Make a Statement.


Timing is Everything

That goes from not showing up ten minutes before the party is over just to save face--they’ll notice, trust us--to etiquette at the buffet line. Keep your plate minimal, and if they pass around hors d'oeuvres, avoid transferring the food directly from the tray to your mouth. They hand out those little napkins for a reason. Lastly, proving you can still pull an all-nighter won’t get you any brownie points either.

 

In the end, these holiday office parties are a way to connect. You might see these people on a daily basis, others you may not, this is your chance to show warmth, enthusiasm, and spirit. And humility goes a long way. Have fun out there!


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Summer started below recent averages in the Vancouver real estate market, and registered home sales were below 4,000 for the first time since January. The Real Estate Board of Greater Vancouver’s president Dan Morrison stated that after a record-breaking start to the year, home-buyer demand returned to more “normal” levels in-line with previous years.


“We’ll wait and watch over the next few months to see if this marks the return of more normal market trends.” Morrison concluded, as July’s sales were still 6.5% above the 10-year sales average for the month. And with the recent introduction of the new BC Foreign Buyer’s Tax by the Canadian government, only time will tell what’s in store for the Vancouver market.


July 2016 By The Numbers:


New Listings (detached, attached, and apartment): 5,241
2.5% increase from July 2015
10.8% decrease from June 2016


Total Active listings on MLS®: 8,351
27.4% decline from July 2015
6.9% increase from June 2016


Sales-to-Active-Listings ratio: 38.6%


Benchmark price for all residential properties: $930,400
32.6% increase from July 2015


Benchmark price for a detached property is $1,578,300
38% increase from July 2015


Detached property sales totaled 1,077
30.9% decrease from July 2015


Benchmark price for an apartment property is $510,600
27.4% increase from July 2015


Apartment property sales totaled 1,602
7.3% decrease from July 2015


Benchmark price for an attached unit is $669,000
29.4% increase from July 2015


Attached property sales totaled 547
20.7% decrease from July 2015


For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.



*REBGV Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

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With an abundance of beautiful courses scattered across the Lower Mainland, it’s hard to narrow it down, but we’ve done our best to choose just five with exemplary characteristics. From private clubs to public courses, these are anything but par for the course.


University Golf Club

A luxurious public course amid old-growth forest, the University Golf Club has 10-minute tee time intervals for a leisurely experience. It also features a 1,600 sq ft retail space that stocks premiere gear and the latest products for golf lovers of all levels. Only a short drive from the city by UBC, it offers a private country club vibe. The original clubhouse is now home to the BC Golf Museum.


Furry Creek Golf and Country Club

Along the famed Sea-to-Sky Highway, Furry Creek is a full 18-hole public course offering panoramic ocean views and the occasional encounter with indigenous wildlife. Warm up at the two hitting nets and putting green on your way to the first hole, aptly named “The Drop Zone”.


The Redwoods Golf Course

Surrounded by panoramic views of the coastal mountains, Redwoods is a Ted Locke-designed championship course just 30 minutes outside Vancouver in Langley. Extensive amenities including practice facilities, driving range, lessons, golf shop and a licensed restaurant.


Nicklaus North Whistler

This award-winning course prides itself on guest services, exceptional course conditioning, and features the largest clubhouse in Whistler. Designed to complement the area’s natural habitat, Nicklaus North bares the name of the pro himself to underscore the exceptional experience one would expect.


Northview Golf & Country Club

With an international reputation, Northview’s claim-to-fame is its two courses, designed by legendary Arnold Palmer. The championship Ridge and Canal courses are accompanied by the Academy, home to Canadian PGA and LPGA golf pros ready to help you master the game on the same courses used as practice facilities for the PGA tour.



What’s your favourite course in the Lower Mainland? Share with us!

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Honda Celebration of Lights - Vancouver Events - Andrew Hasman

 

Far from the Monday - Friday grind that usually populates your To Do list, try one or a combination of our long weekend must-do’s in celebration of BC Day Monday, August 1st.

 

R + R Starts Here

Indulge in Patio Season! We rounded up our favourite summer outdoor dining spots in a recent post, and there’s something for everyone on the list. From chill late night eateries featuring the best in west coast cuisine to people-watching meccas and patios showcasing views for miles, you could spend all weekend dining outdoors.

 

To Be or Not To Be

Get your culture on at Western Canada’s premiere Shakespeare festival and catch a show at Bard on the Beach in Vanier Park. With breathtaking sunset water and mountain views behind the main stage, you’ll never experience anything else like it. On the programme for this year is The Merry Wives of Windsor, Romeo and Juliet, Othello and Pericles.

 

Sip Your Way to Satisfaction

Play tourist in your own town the grown-up way with the Craft Beer ‘n Bites Tour. Hosted by Vancouver Food Tour which was founded by Local Entrepreneur of the Year 2011, Melody Fury, you’ll sip your way through Gastown’s craft beer scene tasting the best on tap paired with carefully selected nibbles. You’ll discover hidden gems while learning about beer’s history and aspects of the brewing process.

 

Light up the Night

The annual Celebration of Light wraps up on Saturday, July 30th with an amazing spectacle of fireworks by the USA. Sponsored by Honda, the celebration features more than just fireworks. There’s also the Shorefest Sunset Beach live music festival and The Stanley Park Brewing Sunsetter Lounge to enjoy a few cold ones while waiting for the light show to begin. Check out their website for transportation and other tips.

 

Spa-aah

Escape to the Scandinave Spa in Whistler where silence is embraced as the key to the success of finding one’s inner stillness for total relaxation. This 20,000 square foot Nordic day spa is known for its outdoor thermal baths and Thai yoga massage. Re-energize by alternating between warm and cool with the waterfall baths, steam rooms, saunas, and showers before chilling in the hammocks by the outdoor fireplace with beautiful mountain vista views and Whistler Blackcomb’s valleys to keep you company.

 

What’s your favourite way to play this long weekend? Share on our Facebook page!

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The Real Estate Board of Greater Vancouver’s June numbers are in, and it’s still clearly a seller’s market out there. “While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” said Dan Morrison, REBGV president.

 

While the sales-to-active listings ratio was lower last month than it has been since February, overall last month’s residential property sales were 28.1% above the 10-year sales average for June, totalling 4,400. It ranks as the highest selling June on record. “Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Morrison concluded.

 

June 2016 By The Numbers:

 

New Listings (detached, attached, and apartment): 5,875

1.2% increase from June 2015

6.6% decrease from May 2016

 

Total Active Listings on MLS®: 7,812

35.9% decline from June 2015

1.1% increase from May 2016

 

Sales-to-Active-Listings ratio: 56.3%

 

Benchmark price for all residential properties: $917,800

32.1% increase from June 2015

 

Benchmark price for a detached property: $1,561,500

38.7% increase from June 2015

 

Detached property sales: 1,562

18.6% decrease from June 2015

 

Benchmark price for apartment property: $501,100

25.3% increase from June 2015

 

Apartment property sales: 2,108

18.8% increase from June 2015

 

Benchmark price for an attached unit: $656,900

28.1% increase from June 2015

 

Attached property sales: 730

7.2% increase from June 2015

 

For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.

 

*REBGV Editor’s Note: Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

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Current as of June 02, 2016. All data from the Real Estate Board of Greater Vancouver. Powered by ShowingTime 10K. Percent changes are calculated using rounded figures.

 

 

* This represents the total of the Vancouver - West area, not the sum of the areas above.

 

 

 

Current as of June 02, 2016. All data from the Real Estate Board of Greater Vancouver. Powered by ShowingTime 10K. Percent changes are calculated using rounded figures

 

 

 

* This represents the total of the Vancouver - West area, not the sum of the areas above.

 

 

 

Current as of June 02, 2016. All data from the Real Estate Board of Greater Vancouver. Powered by ShowingTime 10K. Percent changes are calculated using rounded figures.

 

 

* This represents the total of the Vancouver - West area, not the sum of the areas above.

 

 

Current as of June 02, 2016. All data from the Real Estate Board of Greater Vancouver. Powered by ShowingTime 10K. Percent changes are calculated using rounded figures

 

 

Note: $0 means that there is no sales activity, not $0 as an MLS® HPI Benchmark Price.

 

 

 

 

Note: $0 means that there is no sales activity, not $0 as an Average Price Per Square Foot.

 

Current as of June 02, 2016. All data from the Real Estate Board of Greater Vancouver. Powered by ShowingTime 10K. Percent changes are calculated using rounded figures.

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Vancouver

If it’s been a while since you listened to the radio, make the next time you turn up the dial The Early Edition with host Rick Cluff on CBC Television. His take on local news as well as the influence of international affairs on our local communities in the Lower Mainland are spot on. One particular podcast caught our attention recently, when Cluff spoke with several experts around the globe about the current state of our real estate market. The round table discussion puts an interesting perspective on our market as part of the whole. Read on, or listen to the full podcast here.


Rick Cluff: There’s much debate on the role of foreign investment in Vancouver’s real estate market. We don’t collect data on how many homes are bought by overseas buyers, though the BC government says it’s going to begin doing that. But, we do know the top international wealth managers are advising clients to invest in Vancouver real estate and our city just topped places such as San Francisco and Sydney as the #1 luxury real estate market in the world. CBC’s Catharine Rolson took a trip around the world to find out how the debate over foreign ownership is playing out in other cities, and what they’re doing about it.

Catharine Rolfsen: Before we head overseas, let’s start a little closer to home with our neighbours to the south. I spoke to Kathleen Pender, business columnist with the San Francisco Chronicle and she says prices in that city have gone up astronomically as well.

Kathleen Pender: Many people feel like it’s a combination of people with high paying tech jobs and people coming from overseas with lots of cash wanting to invest in our market. It’s as much as an investment as a place to live. Those two factors are making housing unaffordable for most people in the Bay area.

CR: Sound familiar? Kathleen says she’s interviewed realtors in parts of the bay area who say that 20-30% of their sales are to foreign buyers.


RC: So what are they doing in San Francisco about foreign ownership?


KP: Nothing! As far as I can tell there doesn’t seem to be any effort to find out how many are buying or restricted in any way which is kind of surprising because there’s been a lot of protests against the tech people. In the Pier area there’s a lot of animosity that all these high paid tech workers are driving up the costs for everybody. We’ve had protests in front of school busses and that sort of thing.


CR: Isn’t that interesting to hear the bulk of anger of housing prices is directed towards tech workers!  

CR: Last year the UK introduced a hefty capital gains tax on sales of foreign- owned residential property, but really that move just leveled the playing field between overseas investors and British residents.

Daniel Bentley with the London Think Tank Cevita says the political attitude in London is to really embrace foreign real estate investment. But another conversation is beginning to emerge,  –and that’s the fickle nature of foreign investment in real estate.

Daniele Benltleu: The danger of attracting hot money into London is that when it was good, it was good. Now it might be turning and if people get scared off by that, things can quickly go wrong.

CR: And that’s a discussion that’s starting to emerge in Vancouver too: on the impact on our local economy if foreign investments begin to back out of town.


RC: So it sounds like London and San Francisco are pretty much taking a hands-off approach when it comes to foreign investment. Did you find places in the world that are cracking down?

CR: We've heard on our program people are citing the example of Australia. I spoke to Alison Chung, she’s a real estate reporter for a news court in Australia. She says the debates in cities like Sydney can sometimes take on a racial tone.

Allison Chung: There is a bit of a Chinese community in north Sydney and there was a man who was protesting among them. He didn’t realize there are a lot of local Chinese people living there who have probably been there for the past two to three decades.

CR: Of course we hear that concern in Vancouver, too, about the danger of conflating international investors with Chinese-Canadian residents or new immigrants.


RC: So what’s Australia done then about the actual issue of foreign ownership?

CR: Foreigners are only allowed to buy new properties, hey have to seek official approval to do so, and it costs at least $5000 just to make an offer. But the challenge is enforcing the rule. Last year, Australia stepped up its crackdown on illegal property purchases. Foreigners who break those rules can face up to 3 years in jail and lawyers and realtors can face penalties as well for helping them. Allison told me about a recent high profile case where the government forced a sale of a $39mil mansion that was bought illegally by one of China’s richest men. It showed the government is actually trying. But Allison says agents tell her that many other such sales go under the radar and officials have limited resources to chase down those kinds of transactions.
 

RC: So then is Australia a model that Vancouver should be considering or further investigate?


CR: I had a really interesting conversation with Allison comparing the rules in Australia with those in Canada.

AV: Canada doesn’t seem to have any restrictions or any taxes for foreign buyers. That’s definitely the first step to enforcing some form of regulation, but I wouldn’t say Australia is the perfect model. We’re definitely still struggling ourselves. 
 

CR: So if we do decide foreign ownership is a problem that needs solving here in Vancouver, I’d say Australia can definitely offer some ideas, but also some lessons: there is no perfect solution.


What’s your take on foreign investment in Vancouver? Let us know in the comments!


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January 2016 is the second highest start to the year on record with sales 46% above the 10-year average for the month. Low supply and record-breaking buyer demand is still the driving force in the real estate market.


The total number of residential sales in the Greater Vancouver area totalled 2,519 for the month; a 31.7% increase from the 1,913 sales in January 2015. It was only a slight, 10.9% decline from the 2,827 sales in December 2015.


Real Estate Board of Greater Vancouver’s president Darcy McLeod touts the importance of listing your home with MLS® to ensure maximum exposure. For home buyers, MLS®  is the second greatest tool next to an excellent realtor. With so much competition out there, keeping a constant eye on MLS®  gives buyers the best chance to snapping up the home of their dreams.


2016 Opening Numbers:

New Listings (detached, attached, and apartment) in January: 4,442
6.2% decline from January 2015

119.8% increase from December 2015


Total Active listings on MLS®: 6,635
38.6% decline from January 2015
10.1% increase from December 2015


Sales-to-Active-Listings ratio: 38%

Benchmark price for a detached property is $1,293,700
27.9% increase from January 2015


Detached property sales totaled 1,047
34.1% increase from January 2015


Benchmark price for an apartment property is $456,600
19.4% increase from January 2015


Apartment property sales totaled 1,096
35.5% increase from January 2015


Benchmark price for an attached unit is $563,700
16.4% increase from January 2015


Attached property sales totaled 376
16.4% increase from January 2015


For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.


*REBGV Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.


(Photo: explore604)


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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.