B.C. one of only three regions expecting price declines, finds nationwide survey of recreation specialist realtors.

Although the average price of a recreational property in Canada is expected to increase 5.8 per cent this year, the same can’t be said of B.C. vacation homes, which are forecast to fall in price by nearly three per cent.

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http://www.vancourier.com/real-estate/speculation-tax-reducing-price-of-b-c-s-recreational-homes-survey-1.23326699

Residential sales forecast to slow further this year but recover next year.

Home sales across Greater Vancouver may be soft so far this year compared with the past couple of years, but that won’t be enough to bring average prices down, according to a forecast by the British Columbia Real Estate Association (BCREA).

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A search for the ‘missing middle’ of housing.Only 14 per cent of the 22,000-some homes built last year in Vancouver were rowhouse-style. In Toronto, it was 15 per cent; in Montreal, the Canadian birthplace of this form, only 7 per cent.

read on...

https://www.theglobeandmail.com/real-estate/article-a-search-for-the-missing-middle-of-housing/

The majority of homes with an Empty Homes Tax exemption declared were due to the property changing hands or to redevelopment or renovation, according to a press release issued by the City of Vancouver May 25.

“Of the 5,200 properties declared exempt from the tax, the majority of those in Downtown Vancouver and the neighbourhoods surrounding False Creek — Kitsilano, Fairview, Mount Pleasant, Strathcona and Grandview-Woodland — claimed an exemption due to transfer of the property during the year,” the release states.

The City of Vancouver has proposed new policy aiming to limit land speculation along the Broadway Corridor. 

The new policy, called the Development Contribution Expectation (DCE), will require developers to plan projects that will support public amenities and affordable rental housing. The area has become subject to white-hot demand from developers since TransLink announced it would be extending the Millennium Line to Arbutus Street along Broadway. 

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http://www.vancourier.com/real-estate/city-of-vancouver-aims-to-curb-land-speculation-along-broadway-corridor-1.23314576

The Real Estate Board of Greater Vancouver says high prices, new taxes, rising interest rates and stricter mortgage requirements are some of the factors causing a recent slowdown in the buying and selling of properties.

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http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-slows-prices-high-1.4605085

Both high end condos AND luxury homes are now part of a Buyer's market, with fewer sales and more product.

Learn more....

http://www.cbc.ca/news/canada/british-columbia/greater-vancouver-s-luxury-real-estate-market-is-softening-report-shows-1.4656221

Thinking of renting that basement suite? Tips for first-time landlords

"It is a great way to get on the property ladder and live in an area you want but can't otherwise afford, but it comes with a cost," he says. "If you don't do it right, it can drive you crazy, both financially and psychologically."

Read what one couple learned.....

https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/thinking-of-renting-that-basement-suite-tips-for-first-time-landlords/article4374210/

How Amazon could push Vancouver's high-flying housing prices even higher...

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http://business.financialpost.com/real-estate/how-amazon-could-push-vancouvers-high-flying-housing-prices-even-higher

Developers incentivised to build more rental buildings with cities offering extra density, fee waivers or relaxed parking requirements, that several municipalities have started to offer to developers who build rental.

LEARN MORE...

https://www.thestar.com/vancouver/2018/04/25/vancouver-developers-turn-to-rental-as-home-ownership-climbs-out-of-reach-for-many.html

My happy Buyers purchased 1098 West 24th, North Vancouver.

Amazing starter home or renovation project located right in the heart of the amazing neighborhood of Pemberton Heights! This 2 level, 4 bedroom, 2 bathroom, 2300 s/f home has been extremely well maintained and cared for over the years. Beautiful Custom Kitchen completed last year w/ all S/S appliances. The lower floor (daylight basement) is designed as either a 2 bedroom basement suite or could be also used as additional bedrooms and entertaining space. Enjoy this stunning private patio setting right off the lower level. 50 feet from Sowden Park, 4 blocks to Capilano Elementary (IB) and Daycare/preschool within the neighborhood. A must see home to be able to call Pemberton Heights home.