Monday, June 3, 2013
Sale Price Averages - 1977 through April 2013
Friday, April 26, 2013
First Quarter Sales Stats for 2013
Tuesday, June 5, 2012
Vancouver approves a new Secured Rental Housing Policy
Vancouver, like other Metro Vancouver municipalities, is scrambling to accommodate the 52% of residents who rent their home.
The situation is expected to worsen given that 40,000 newcomers or about 18,600 households arrive each year, and of these 6,500 households are renters. Since 2007, less than 1,000 rental units per year have been built in Metro Vancouver.
In 2009, to help address the problem, the City created the Short Term Incentives for Rental (STIR) program, which ran until December 2011. STIR provided incentives such as increased density and development cost levy waivers to builders of rental housing in both 100% residential and in mined-used buildings. But the program hand problems. While the 100% rental projects cost the city $4,900 per unit or a total of $1.8 million for 372 units, in contrast the 327 units in mixed strata/rental buildings cost $70,000 per unit, for a total of $23 million. The huge price difference has been attributed to building materials: the 100% rental units were in wood frame walk-ups, while the units in mixed use were in expensive-to-build concrete towers.
But the chronic lack of rental housing isn’t going away. So on May 15, 2012 Council approved a new Secured Rental Housing Policy. Like STIR, it will provide incentives for developers but this program will be for 100% rental buildings only. Mixed-used developments will not qualify.
The new Secured Rental Housing Policy is part of the City’s Housing and Homelessness Strategy which seeks to create 5,000 rental units in Vancouver by 2021.
Incentives under the new policy will likely be similar to those of the STIR program which included:
Affordable rental housing is vital for small businesses throughout the Lower Mainland to attract and keep workers, according to John Winter, President of the BC Chamber of Commerce, who notes: “Without affordable places to live that are close to jobs and transit, local employers will have trouble competing for talented workers. “
The Canadian Rental housing Coalition, of which the Real Estate Board is a founding member, supports Vancouver’s policy and is bringing national attention to the need for rental housing to stimulate the economy and provide affordable housing alternatives.
Article from The Open House, June 1, 2012
Tuesday, May 1, 2012
50 Ways to Green Your Home and Save $$$ in Greater Vancouver
1. Green neigbourhoods
2. Transit-orientated density (TOD)
3. Lower Cost Luxury
4. Score your location
5. Get an energy audit
6. Install a high-efficiency heating system
8. Insulate your pipes
9. Insulate your hot water heater
10. Install a programmable termostat
11. Clean your furnace filter
12. Get the most from your fireplace
13. Use curtains
14. Install ceiling fans
15. Use an electric fan
16. Fix leaks. Fix leaking taps
17. Instal a filter
18. Change your light bulbs
19. Sensor lights
20. Keep it dark
21. Holiday lights
22. Replace your fridge
23. Replace your dishwasher
24. Replace your freezer
25. Low flow shower
26. High efficiency or dual flush (you choose the amount of water used) toilets
27. Use smart strips
28. Buy energy smart electronics
29. Recycle your old electronics
30. Conserve Water
31. Drip irrigation
32. Elbow grease
33. Less lawn
34. Grow your own
35. Presever your produce
36. Bee friendly
37. Go chemical-free
38. Plant fruit trees
GREEN AND CLEAN
40. Clean freen
41. Green Laundry detergent
42. Upgrade your washing machine
43. Install a clothesline
44. Get a rack
46. Buy local
47. Don't use paper or plastic
48. Borrow green
49. Green Tool Kit
50. Loan programs
February 6, 2012, Real Estate Board of Greater Vancouver Article
Friday, June 3, 2011
Housing Market Spring Activity in April
VANCOUVER, B.C. – Vancouver saw a typical, solid month of residential home sales on the MultipleListing Service in April, in contrast to the near record pace witnessed in the two preceding months.
The Real Estate Board of Greater Vancouver reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.
Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.
While it continues to be a seller’s market (Detached) in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,the REBGV president said. The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS, as there were more detached and townhome sales this April compared to last year.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.
At 14,187, the total number of residential property listings on the MLS increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.
There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area.
The MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010.
Sales of detached properties on the MLS in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039.
Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242.
Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670.
In the coming Summer months we should continue to see the strong activity of Westside Detached homes. I believe we will see a strong increase of activity in Apartments and Townhomes. For those who are considering a purchase in this sector of the market…now is a good time to buy.
As always I am available for your questions.
Thursday, January 6, 2011
Real estate market stable at year-end
The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year's number of housing sales was 10.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 9.7 per cent in 2010 to 58,009 compared to the 52,869 properties listed in 2009. Compared to 2008, last year's total represents a 7.3 per cent decline compared to the 62,561 residential properties listed in 2008. The number of properties added to the MLS® peaked in April and generally declined for the remainder of the year.
The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that's good news for home buyers and sellers, Jake Moldowan, REBGV president said. The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.
Residential property sales in Greater Vancouver totalled 1,899 in December 2010, a decrease of 24.5 per cent from the 2,515 sales recorded in December 2009, an all time record for the month, and a 24.3 per cent decline compared to November 2010 when 2,509 home sales occurred.
More broadly, last month's residential sales represent a 105.5 per cent increase over the 924 residential sales in December 2008, a 0.1 per cent increase compared to December 2007's 1,897 sales, and a 12.6 per cent increase compared to the 1,686 sales in December 2006.
The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 2.7 per cent to $577,808 between Decembers 2009 and 2010. However, prices have decreased 2.6 per cent since hitting a peak of $593,419 in April 2010. Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation, Moldowan said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,699 in December 2010. This represents a 21.1 per cent decline compared to the 2,153 units listed in December 2009 and a 43.9 per cent decline compared to November 2010 when 3,030 properties were listed.
Sales of detached properties in December 2010 reached 769, a decrease of 14.8 per cent from the 902 detached sales recorded in December 2009, and a 121.1 per cent increase from the 348 units sold in
Attached property sales in December 2010 totalled 319, a decline of 30.5 per cent compared to the 459 sales in December 2009, and a 100.6 per cent increase from the 159 attached properties sold in December 2008. The benchmark price of an attached unit increased 2.7 per cent between December 2009 and 2010 to $490,869.
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