Housing Market News

The world’s largest money manager is revising its expectations for the Bank of Canada’s policy tightening path. BlackRock Inc. no longer sees the BOC raising interest rates at the conclusion of its July 11 meeting, after Governor Stephen Poloz struck a dovish tone during Wednesday’s highly anticipated speech. The shift echoes a similar change in […]

Faith Wilson Group 4th Quarter 2017 Westside Property Insights Detached houses KEY INSIGHTS More than 1,000 detached houses sold on the Westside in 2017 at a benchmark price of around $3.5 million. Anywhere else in the world, such a multi-billion dollar performance in a relatively small area would be considered outstanding, perhaps historical. But this […]

Faith Wilson Group’s City of Surrey & Delta November 2017 Key Insights Detached houses KEY INSIGHTS While the strata sector is drawing most of the attention in Metro Vancouver, Surrey-Delta detached house sales are quietly leading the entire Metro market. In November 353 houses sold in Surrey-Delta. This is more than all the detached house […]

Faith’s November Insights for North Vancouver Detached houses KEY INSIGHTS Watch Canyon Heights and Upper Capilano detached house prices. The District is moving forward on zoning that will allow 130 lots in the area to be split into 197 lots. The zoning goes to a public hearing in January, but seems to have the necessary […]

Faith’s November 2017 Tri-Cities Housing Marketing Breakdown Townhouses KEY INSIGHTS The Tri-Cities townhouse market was extremely active in November, with sales up 35.3% from November 2016, the typical new listing selling within 12 days and prices rising from October in most neighbourhoods. Buyers may be really onto something because, based on recent Tri-City land sales […]

Faith Wilson Group November 2017 Burnaby-New West Property Insights Townhouses KEY INSIGHTS Burnaby and New Westminster flow from the Burrard Inlet to the Fraser River. And in that entire expanse there were only 68 new listings for townhouses in November, the lowest level since January. Likely due to the low inventory, townhouse sales were down […]

Faith Wilson Group November 2017 West Side Insights Detached houses KEY INSIGHTS There is no mystery why the Westside of Vancouver has the most expensive detached houses in British Columbia. The leafy streets, the many magnificent houses, the proximity to the city’s best schools, beaches, parks and downtown. The undeniable cache of a Westside address. […]

Detached houses KEY INSIGHTS While there has been some angst over a sudden November slump in detached housing sales in Richmond, developers are busy buying and bidding up house prices along arterial roads. Richmond council has zoned such routes, such as Stevenson Highway, for townhouses.  Recently a 10-house assembly was sold for $22.7 million as […]

Faith’s Condominium Report Even after more than two decades in Vancouver’s real estate industry, I remain awed by what has happened in the city’s condominium apartment market over the past two years, especially in the past year. The numbers are simply amazing. Since January, 3,252 condominiums have sold in Vancouver.  More than 1,000 condos were […]

Detached houses KEY INSIGHTS In this month a year ago Eastside detached house sales had been tracking lower for four straight months after the foreign-homebuyer tax was introduced in August. In November 2016 just 42 houses sold, detached sales were down 44% for the year and the benchmark price was $1.42 million. Some suggested that […]