RSS

CREA ECONOMICS NOW


US Economic Growth (Q2'2015) - July 30, 2015


US real GDP grew at a modest 2.3 per cent annual rate in the second quarter, led by positive contributions from personal consumption, exports, and government expenditures. Most importantly, the contraction in GDP initially reported for the first quarter was revised away, with GDP now estimated to have grown 0.6 per cent.   

Improved US economic growth will help the Canadian economy regain its footing in the second half of the year, but may also prompt the US Federal Reserve to begin tightening monetary policy as early as September. If so, we could see Canadian long-term interest rates, and therefore longer-term mortgage rates, dragged higher in spite of recent action by the Bank of Canada.  


Source: BC REA (BC Real Estate Association, July 30, 2015)

Read

We just sold a property at 902 23RD AVE W in Vancouver

We have just sold a property at 902 23RD AVE W in Vancouver.
Gorgeous updated Cambie character home circa 1912. This almost 3200 sq foot 4 level home features beautiful original stained glass windows, fir floors, huge windows and is overflowing with charm. Enter on a classic front porch to a welcoming foyer. Main floor features bright & spacious living & formal dining rooms, an updated kitchen with eating area. French doors open to entertainment sized private deck. Office/den plus a full bath complete the main. Upstairs are 3 bedrooms, a full bath. Top floor features a generous family/multi-purpose room with 2 huge skylights plus storage. 2 bedroom basement suite is a perfect mortgage helper. Situated on a prime south west corner lot, surrounded by a stunning mature landscaped garden. Minutes to Cambie Village shops, restaurants, theatre & Douglas Park is only steps away!
Read

Vancouver, BC – July 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 11,294 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 25.6 per cent from the same month last year. Total sales dollar volume was $7.1 billion, a 42.6 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $631,962, a 13.5 per cent increase since last June.

 

“BC home sales posted the second strongest June on record,” said Brendon Ogmundson, BCREA Economist. “A growing provincial economy and record low borrowing rates continue to push demand higher, particularly in the lower mainland.”

 

“While consumer demand is surging, the supply of homes for sale has not kept pace. The resulting imbalance of supply and demand has put upward pressure on prices in many areas of the province, most notably with respect to single-detached homes,” added Ogmundson.

 

Year-to-date, BC residential sales dollar volume increased 36.8 per cent to $32.6 billion, when compared with the same period in 2014.

 

Residential unit sales climbed by 23.1 per cent to 51,559 units, while the average MLS® residential price rose 11.2 per cent to $631,946.

 

source: BCREA

Read

We just sold a property at 108 1990 KENT AVE SOUTH AVE E in Vancouver

We have just sold a property at 108 1990 KENT AVE SOUTH AVE E in Vancouver.
Waterfront resort style living! Stunning river views from every room in this spacious 2 bed 2 bath condo. Bright open floor plan with large principal rooms, big view windows and a cozy fireplace. Kitchen offers granite counters & beautiful custom cabinets throughout. Access to an exceptional clubhouse with TV, kitchen, pool table, party room, exercise facility & hot tub. 2 secured parking stalls, storage locker & pet friendly. Excellent proactive strata in a FREEHOLD building! Enjoy walks along the seawall in the ever growing River District. Relax on the huge patio watching tugboats glide along the Fraser River.
Read

We just sold a property at 4606 11TH AVE W in Vancouver

We have just sold a property at 4606 11TH AVE W in Vancouver.
Fantastic Point Grey opportunity 1 Rarely available - 1st time on the market in over 30 years. Classic character family home on a much sought after 54' x 122' beautifully landscaped south west corner lot Over 3600 square feet of living space. Main floor features foyer that opens to spacious living room with fireplace, formal dining room with wainscotting and lovely hardwood floors. Separate den with custom entertainment centre & guest bath. A modern kitchen with eating bar and large breakfast area overlooks a sunny south backyard with an enormous entertainment size deck & mature trees. 4 generous bedrooms upstairs with 2 full baths including a large master en-suite. Loads of space in the basement with huge media & games rooms, another full bath, laundry room, storage (wine) room plus exercise & hot tub room! One block to the shops & amenities of West 10th Ave. Queen Mary Elementary & University Hill Secondary School catchment. UBC is just minutes away.
Read

Please visit our Open House at 902 23RD AVE W in Vancouver.
Open House on Saturday, June 27, 2015 2:00 pm - 4:00 pm
Gorgeous updated Cambie character home circa 1912. This almost 3200 sq foot 4 level home features beautiful original stained glass windows, fir floors, huge windows and is overflowing with charm. Enter on a classic front porch to a welcoming foyer. Main floor features bright & spacious living & formal dining rooms, an updated kitchen with eating area. French doors open to entertainment sized private deck. Office/den plus a full bath complete the main. Upstairs are 3 bedrooms, a full bath. Top floor features a generous family/multi-purpose room with 2 huge skylights plus storage. 2 bedroom basement suite is a perfect mortgage helper. Situated on a prime south west corner lot, surrounded by a stunning mature landscaped garden. Minutes to Cambie Village shops, restaurants, theatre & Douglas Park is only steps away!
Read

We just sold a property at 2727 PRINCE EDWARD ST in Vancouver

We have just sold a property at 2727 PRINCE EDWARD ST in Vancouver.
Sleek modern 2 level Townhome, perfectly situated end unit in fully gated, quiet inner courtyard of the UNO complex. The main floor offers open plan design, Cooks kitchen with corian counter top, upgraded custom granite island plus a gas range. Features incl engineered bamboo HW floors & solar shades throughout. Small flex room for den/office. Upstairs offers 2 beds with custom closets, 2 baths & laundry. Relax in your private patio with outdoor gas BBQ hookup. Located in the hot SOMA District. - minutes to shops, restaurants, trendy breweries, community centre & more! Pet Friendly. You'll want to see this one!
Read

We just sold a property at 106 633 16TH AVE W in Vancouver

We have just sold a property at 106 633 16TH AVE W in Vancouver.
Great starter home in prime Fairview/Cambie Village location. Situated on the quiet side of the building with an amazing private yard and patio (25 x 18!), this one bedroom home is what you've been looking for. Updated galley kitchen with stainless steel appliances, kitchen counter and opened up to create a bright and spacious feel. In suite storage and a crawlspace too! Pro-active building has completed rain-screen project. Minutes to Cambie Village, City Square and Skytrain. Secured parking underground. Rentals ok, sorry no pets.
Read

Please visit our Open House at 108 1990 KENT AVE SOUTH AVE E in Vancouver.
Open House on Sunday, June 21, 2015 2:00 pm - 4:00 pm
Waterfront resort style living! Stunning river views from every room in this spacious 2 bed 2 bath condo. Bright open floor plan with large principal rooms, big view windows and a cozy fireplace. Kitchen offers granite counters & beautiful custom cabinets throughout. Access to an exceptional clubhouse with TV, kitchen, pool table, party room, exercise facility & hot tub. 2 secured parking stalls, storage locker & pet friendly. Excellent proactive strata in a FREEHOLD building! Enjoy walks along the seawall in the ever growing River District. Relax on the huge patio watching tugboats glide along the Fraser River.
Read

Please visit our Open House at 3833 ST. CATHERINES ST in Vancouver.
Open House on Saturday, June 20, 2015 2:00 pm - 4:00 pm
This cozy bungalow has been nicely upgraded including new vinyl double glazed windows, newer roof, updated tastefully throughout and is move in ready. Enclosed porch, living room, kitchen with dining area and 2 bedrooms plus a renovated full bath on main. Terrific family room, 3rd bedroom, full bath and private office space down. Outstanding west facing entertainment size deck (21 X 16) plus double carport with tons of storage. Charles Dickens Elementary and Tupper High School school catchment. Steps to sought after Glen Park. Don't miss this fantastic entry level detached home in a prime Fraser/Main location! OPEN SAT JUN 20th 2 - 4
Read

We just sold a property at 598 24TH AVE W in Vancouver

We have just sold a property at 598 24TH AVE W in Vancouver.
Elegant & functional contemporary style home, extensively renovated with precision & style! Located on a large South East corner lot (425x130.4) in Douglas Park. Welcoming foyer leads to open living & dining area plus a private office. Gourmet Cook's designer kitchen with top of the line appliances including Bosch gas cook top, range hood & dishwasher, Fisher Paykel double ovens & GE Monogram Wine Fridge. Large Caesarstone island & quartz counter tops. Spacious adjacent family room with wall of custom built-ins. Designer guest bath completes the main. Tempered glass & stainless steel railing staircase leads up to 5 bedrooms & 3 baths including 2 ensuites. Stunning spa like master bath with steam shower, luxurious tub & California closets. Terrific Games/Media room down + great storage. Home features state of the art sound, entertainment & security system. Partial covered entertainment size deck + gas hookup for your BBQ. Easy access to Cambie Village shops, theatre. recreation & Canada line.
Read

Please visit our Open House at 902 23RD AVE W in Vancouver.
Open House on Sunday, June 14, 2015 2:00 pm - 4:00 pm
Gorgeous updated Cambie character home circa 1912. This almost 3200 sq foot 4 level home features beautiful original stained glass windows, fir floors, huge windows and is overflowing with charm. Enter on a classic front porch to a welcoming foyer. Main floor features bright & spacious living & formal dining rooms, an updated kitchen with eating area. French doors open to entertainment sized private deck. Office/den plus a full bath complete the main. Upstairs are 3 bedrooms, a full bath. Top floor features a generous family/multi-purpose room with 2 huge skylights plus storage. 2 bedroom basement suite is a perfect mortgage helper. Situated on a prime south west corner lot, surrounded by a stunning mature landscaped garden. Minutes to Cambie Village shops, restaurants, theatre & Douglas Park is only steps away!
Read
Categories:   Brighouse, Richmond Real Estate | Broadmoor, Richmond Real Estate | Cambie Village, Vancouver Real Estate | Cambie, Vancouver West Real Estate | Coal Harbour, Vancouver West Real Estate | Collingwood VE, Vancouver East Real Estate | Downtown VW, Vancouver West Real Estate | Dunbar, Vancouver West Real Estate | Fairview VW, Vancouver West Real Estate | Fairview, Vancouver Real Estate | False Creek North, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Fraser VE, Vancouver East Real Estate | Fraserview VE, Vancouver East Real Estate | Grandview VE, Vancouver East Real Estate | Hastings East, Vancouver East Real Estate | Hastings, Vancouver East Real Estate | Highgate, Burnaby South Real Estate | Indian River, North Vancouver Real Estate | Kerrisdale, Vancouver West Real Estate | Kitsilano, Vancouver West Real Estate | Knight, Vancouver East Real Estate | Lower Lonsdale, North Vancouver Real Estate | Main, Vancouver East Real Estate | Marpole, Vancouver West Real Estate | Metrotown, Burnaby South Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Oakridge VW, Vancouver West Real Estate | Point Grey, Vancouver West Real Estate | Quay, New Westminster Real Estate | Renfrew VE, Vancouver East Real Estate | S.W. Marine, Vancouver West Real Estate | South Cambie, Vancouver West Real Estate | South Granville, Vancouver West Real Estate | South Marine, Vancouver East Real Estate | Steveston Village, Richmond Real Estate | Strathcona, Vancouver East Real Estate | University VW, Vancouver West Real Estate | Upper Lonsdale, North Vancouver Real Estate | Victoria VE, Vancouver East Real Estate | West End VW, Vancouver West Real Estate | Yaletown, Vancouver West Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.