March home sales and new listings set records in Metro Vancouver   Home buyer and seller activity reached unprecedented levels across Metro Vancouver in March.  The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase ...

Home buyer competition intensifies across Metro Vancouver’s housing market   Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market.    The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in Feb ...

Among Canada’s Census Metropolitan Areas (CMAs), the overall vacancy rate increased from 2.0% in 2019 to 3.2% in 2020 for all bedroom types, according to Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Survey (RMS) released today. The national average two-bedroom rent across CMAs increased by 3.6% to $1,165. New this year, we have included rent arrears data. The COVID-19 pande ...

November home sales outpace seasonal norms and long-term averages   Housing demand in Metro Vancouver* continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015.    The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,064 in November 2020, a 22.7 per cent increase from the 2,498 sal ...

Home sale and listing resurgence extends into the fall   Home sale and new listing activity remained at near record levels across Metro Vancouver in October.   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 from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase ...

Government Update - BC NDP Announces Rent Increase Freeze As many of you have heard, the BC NDP have indicated in their election platform that they will extend the rent increase freeze that had been implemented during the COVID-19 period. In September 2020, they announced that the rent increase freeze implemented during the COVID-19 period would end December 1, 2020. If the BC NDP are re-elec ...

Metro Vancouver home sales and listings surge in September   Home sale and new listing activity reached record levels in Metro Vancouver in September.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase ...

A recent article from Burnaby Now (click here to read the article) highlights the problems home owners and landlords face if they try to skirt the law and rent out secondary suites, such as basement suites, without the proper approvals and permits. Yes, there are many people out there renting suites that are not legal. That doesn’t mean you should be one of them. You will have to suffer the ...

Commercial real estate sales decline in the second quarter   As the COVID 19 pandemic intensified in the second quarter of 2020 (Q2), the Lower Mainland’s commercial real estate market experienced fewer sales while dollar values fluctuated depending on property type.   Commercial real estate sales totalled 324 in the Lower Mainland in Q2 2020, a 26.5 per cent decline from the 441 sales in ...

Home sale and listing activity continues to increase in August   Home buyers and sellers remained active across Metro Vancouver in August, with home sale and new listing activity outpacing the region’s historical averages.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,047 in August 2020, a 36.6 per cent increase from the ...