Global real estate markets entered 2010 with a renewed sense of optimism, piggybacking on the broader economic recovery underway. Housing demand and pricing improved in the first quarter of the year in the majority of the advanced nations we track, benefitting from ultra-low interest rates, improved affordability, and in some cases, government purchase incentives
Home sales activity in Greater Vancouver was quieter last month than most Julys over the past decade, with residential sales, prices, and the number of homes listed for sale trending downward in recent months.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent decline from the 4,114 sales in July 2009, the highest selling July ever recorded, and a 24.1 per cent decline compared to June 2010.
The B.C. government has cancelled a proposed mail campaign to support its Harmonized Sales Tax because it says public reaction to the new tax has been better than expected.
Finance Minister Colin Hansen said he pulled the plug on the HST mailer Wednesday during a Liberal caucus meeting in Vancouver.
“I think the roll out of the HST has been smoother than we had anticipated,” said Hansen.
The Simon Fraser University Community Trust has cleared its last hurdle to doubling the size of its Burnaby Mountain-top community with zoning approval for Phase 3 of its UniverCity project.
Vancouver may be an expensive place to park, but it’s also the cheapest among the big five Canadian cities, according to a survey released Monday by Colliers International.
The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.
â€œActivity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,â€ Jake Moldowan, REBGV president said.
Mainland Chinese interest in Metro Vancouver property is so strong that it’s fuelling a market for real estate tourism, with groups of wealthy travellers scheduling visits to the city for the sole purpose of house hunting.
The economic impact of wealthy buyers from Mainland China has gone all but unnoticed by the average Vancouverite â€” but itâ€™s no secret to the cityâ€™s real estate industry.
The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last monthâ€™s sales.
The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008â€™s 3,218 sales; and 3.7 per cent more than April 2007â€™s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month.