Confused about zoning? See below for explanations of residential zoning in Vancouver with links to download detailed information from the City of Vancouver.
The intent of this Schedule is generally to maintain the single-family residential character of the RS-1 District, but also to permit conditionally one-family dwellings with secondary suites...
Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules.
Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than...
Tiny houses are not uncommon, especially in Tokyo. But Fuyuhito Moriya's three-story pad (which he bravely shares with his mother) is among the most impressive I've ever seen. It sits atop a single parking space.
When Fuyuhito Moriya, 39, purchased his 30 square meter plot of land in Tokyo, it was advertised as a spot to park a car. He decided to park himself and his mother there instead—a project that...
Entering into October, a question that is being asked rather frequently is "Where is the inventory?". While mainstream media has been talking about rising inventory levels and a full fledged 'Buyer's market' for almost two months, the reality is that the statistics quite simply don't support it yet. The number of active listings across the board has been dropping since May and has really just levelled off in September without any noticeable increases in inventory levels at all. I admit that I am in fact a bit surprised by this as I have been expecting inventory levels to start to rise in the Fall and, while it may still happen, the market seems to have settled nicely in a fairly balanced state of affairs. With interest rates remaining low, and without a noticeable increase in active listings, it appears that things may remain this way through to the end of the year.
With this current stability, we are also seeing a levelling off with prices across the board. The one exception here is the downtown market, which saw a 13% increase in prices last month, though much of that increase can be attributed to the sales of several high end luxury homes that have skewed the number slightly. In spite of those sales, another interesting trend that we are seeing is a real slowdown in the higher price brackets. For both attached and detached properties, in both Vancouver West and Vancouver East, the absorption rate (ratio of active listings to sales in the past month) trails of noticeable as you look at higher priced homes in each category.
Please take a look through the new, more comprehensive statistics below and let me know if you have any questions. I think they will provide you with a better outlook and analysis of current happenings. Any suggestions or recommendations you have are always appreciated.
I really don't know what is going on out there. The market is all over the place, which could be a sign of things to come.
Over the last couple of days I have written 4 very reasonable offers on condos, in various price ranges, with only one acceptance. This one acceptance was on a loft in Mount Pleasant, near Cambie Street, which had amazing views, 18 foot ceilings, and a huge deck. My client loved...
These stats are telling us one thing, but I will tell you that there is a different experience on the ground. The market has indeed slowed, but for those looking for a nice two bedroom on the Westside, a decent townhouse in Vancouver or the shore, or a single family house for under $1.3 in Vancouver, there is no quality product out there. Also, it is important to understand that even though sales are...
