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Monday, 23 October 2006 |
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September sales move towards a balanced market Vancouver, B.C. Oct 3, 2006 -The Real Estate Board of Greater Vancouver (REBGV) reports that total residential sales for detached, attached and apartment properties reached 2,519 units in September 2006, a decrease of 24.7 per cent compared to the 3,344 units sold in September 2005, and a 11.5 per cent decrease compared to the 2,845 sold during the same period in 2004. New listings for detached, attached and apartment properties increased by 11.4 per cent to 5,115 units when compared to the 4,590 units listed in September 2005. "We're moving towards a balanced market, a balance that brings greater stability to buyers and sellers throughout the Greater Vancouver area," says REBGV president Rick Valouche. "We're finally seeing an increase in inventory and that is great news for buyers in our active market. "We're still selling far more properties monthly than we were four or five years ago," notes Valouche. "There's been a shortage of listings for some time. If listings continue to increase at this pace, we may be able to start meeting the strong demand for real estate that has been the driving characteristic of the Greater Vancouver market for the past five years." According to Multiple Listings Service® (MLS®) data, sales of apartment properties decreased by 18.4 per cent to 1,093 sales in September 2006 compared to 1,339 sales in September 2005. The benchmark price of an apartment property in Greater Vancouver, calculated by the MLSLink® Housing Price Index, is $334,482, up 21.6 per cent from one year ago. Sales of attached properties decreased by 33.8 per cent in September 2006 to 392 sales, compared to 592 sales in September 2005. The benchmark price of an attached unit is $411,898, up 19.6 per cent from a year ago.
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Monday, 02 October 2006 |
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Vancouver city councillor wants to make sure poor aren't evicted as Olympics nears VancouSeptember 30, 2006 - 11:15 pm
By: Tamiko Nicholson Vancouver (NEWS1130) - People living in the American Hotel were facing eviction as of midnight, even though many tenants are legally allowed to stay. Vancouver City Councillor Tim Stevenson says the city is breaking its word and he plans to bring an emergency motion to council on Tuesday to put a moratorium on the demolition of any more rooming houses. |
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Friday, 29 September 2006 |
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
exhibited moderate price increases and stable unit sales during the third
quarter. Wide regional variances continued to be the dominant characteristic
in the market, exemplified by frenzied levels of activity and double digit
price gains observed in the energy and commodity rich Western provinces, and
more reasonable sales volumes and moderate price appreciation in Ontario,
Quebec and Atlantic Canada, according to a report released today by Royal
LePage Real Estate Services.
Nationally, market trends established through the first three quarters
are forecast to continue for the remainder of the year. Robust economic
conditions, low unemployment rates, modestly growing salaries and wages, and
sound consumer confidence contributed to the overall strength of the
residential real estate sector.
Of the housing types surveyed, the highest average price appreciation
occurred in detached bungalows, which rose to $300,365 (+16.3%)
year-over-year, followed by standard condominiums, which rose to $211,562
(+14.2%), and standard two-storey properties, which increased to $365,380
(+13.2%).
"Canada's sturdy housing market continued to demonstrate steady growth
during the third quarter. For all but the west, we have moved on from the
frenzied expansion that characterized the first half of this decade, and are
poised to show continued growth at a more moderate pace," said Phil Soper,
president and chief executive officer, Royal LePage Real Estate Services.
"Gone is the sellers' market that we have lived with for some years. We
welcome the more reliable conditions that are characteristic of a healthy
balanced market."
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