Spring is here! Or maybe it's not... Depends on the day, but when the sun it out, it sure feels like it is close! Hopefully you are dusting off the patio furniture and planning some long weekend getaways as the calendar hits April.
March was an interesting month in the Vancouver market, as we saw changes in mortgage rules mid-month that reduced the maximum mortgage amortization period from 35 years to 30 years and requires investors to put a minimum of 20% down on purchases. These changes created a big push early in the month to get deals done before the new rules took effect and caused things to slow down towards the end of March. It will be interesting to see if things pick right back up in April, as it is typically a busy buying season, or market activity remains relatively flat.
Compared to February, March continued to show increases in new listings and sales activity across the board. Sale prices also creeped upwards in most areas, with the exception of the inflated Vancouver Westside detached market and the slightly cooling North Van detached market. I suspect both areas will level off this month after the correction.
At this point, it appears that the relatively stable market that we have enjoyed all year will continue into the Summer.
Vancouver Special Renovation Blog
We're finally coming down the home stretch with this reno.
The solid bamboo floors were totally different from what we ordered, but they still worked with the space, so we went ahead with them anyways. I really wanted to do what we could to dampen the noise for our tenants downstairs, so we installed high density rubber padding underneath the hardwood, then nailed through everything at once. In the bathrooms, we installed NuHeat heated floors, and some really nice striated porcelain tile. Thank god we went with NuHeat, our master is over part of the garage, and it is ice cold when the floor is turned off. One thing that I will do differently next time, is to pay more attention to the bathroom fixtures and cabinets that we go with. Read more See all Blog Posts