Category: Uncategorized
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More than 40 per cent of Metro Vancouver residents prefer single-family homes, survey finds
A Metro Vancouver survey shows that over 40% of homeowners prefer single-family homes, influenced by income and relocation frequency. However, there's a mismatch between desired housing types and available options due to limited land and a shift towards higher density living. The survey, involving 3,000 long-term residents, categorized households as "stickers," "movers," or "bouncers," highlighting…
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Vancouver Condo Market Faces Cooling Trend
Vancouver's condo market faces a slowdown due to high costs, rising interest rates, and reduced demand. Developers struggle with unsold inventory and cautious lenders, halting new projects in key Canadian markets.
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Vancouver draft budget proposes 5.5% property tax increase
Vancouver's proposed 2025 operating budget is $2.4 billion, including a 5.5% property tax increase, raising taxes by approximately $77 for median strata units and $211 for median single-family homes. The Vancouver Police Department seeks an additional $22.8 million, potentially requiring budget cuts or further tax hikes. The budget also proposes an $8 million increase for…
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More promising signs for affordable rent across Metro Vancouver
Renting in Metro Vancouver is showing signs of improvement, with recent reports indicating a trend towards more affordable rates. liv.rent notes that rents have remained below 2023 levels for five consecutive months, while Zumper reports a decline in median rents in pricier areas. Downtown Vancouver remains the most expensive, averaging $2,772 for an unfurnished one-bedroom.…
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Vancouver Buyers Rebound: Sales Jump 32%
Home sales in Greater Vancouver rose 31.9% in October compared to last year, suggesting a rebound. In October, Greater Vancouver recorded 2,632 sales, only 5.5% below the 10-year average for the month.
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Are Falling Metro Vancouver Prices a Sign of What’s Ahead?
Metro Vancouver’s housing market sees rising inventory and declining prices, signaling a possible shift in dynamics. In October 2024, Metro Vancouver reported a 31.9% increase in residential property sales year-over-year.
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How Much It Costs to Live in Vancouver
Vancouver is ranked the priciest city in Canada, with high housing and living costs. A one-bedroom apartment averages $2,675, and a home costs around $1.2 million in Vancouver.
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The federal government’s housing strategy is failing Vancouver’s most vulnerable
Federal Housing Minister Sean Fraser announced over $574 million to build 953 new rental homes in Vancouver, but 80% of these units are for households earning over $87,000, leaving low-income individuals at risk of homelessness. National Housing Day highlights the urgent need for action, as homelessness has increased by 20% since the National Housing Strategy…
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What’s Ahead for Greater Vancouver’s Housing Market in 2025?
Home prices are expected to rise by 7%, with the average reaching $1,383,501. Strong demand and limited supply will maintain a seller’s market.
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Vancouver condos to remain buyer’s market in 2025 before “significant” price hikes
Vancouver's condo market is currently favorable for buyers, but this is expected to change by 2026. A CIBC Capital Markets forecast predicts housing market weakness through 2025, with a rebound in 2026 due to increased demand from lower interest rates and changes in mortgage regulations. Low pre-sale activity will lead to upward pressure on prices.…