Vancouver Island Real Estate Market Update

Welcome to what is the first of our regular ongoing articles about real estate in our community. The purpose of our articles is to provide you with the most up-to-date information here in Oceanside. As you are aware, real estate is constantly changing, as are the market conditions and regulations. Hopefully, our articles will provide … Continued

New National Housing Strategy Released by Canadian Government

From coast-to-coast, real estate continues to be one of the most talked about topics in Canada today. Red hot real estate markets, foreign buyers, consumer debt, and affordable housing are all topics at the forefront of this issue, creating mass concern and impacting the lives of everyday Canadians. In November, the Government of Canada made … Continued

Vancouver House Sales Decline Causing Provincial Averages To Dip

Recent numbers gathered from October show major decreases across the board for province-wide real estate figures, with experts citing the decrease in activity in the Lower Mainland as the main culprit. In a report released by the British Columbia Real Estate Association (BCREA), residential sales in October were down by nearly 17 per cent compared … Continued

Vancouver Home Sales in Plummet by Nearly 40%

The number of home sales in the month of October dropped by 38.8 per cent when compared to the same month in 2015, as revealed by new statistics provided by the Real Estate Board of Greater Vancouver. In the past month, only 2,233 properties were sold, compared to 3,646 home sales in October 2015. This … Continued

TD Bank Raises Prime Rate

Toronto Dominion Bank, one of the nation’s big banks, announced that it is changing its mortgage rates, including increasing their prime rate from 2.7 per cent to 2.85 per cent. The move is in anticipation of higher lending costs sparked by the recent changes in mortgage rules. The increase applies only to the TD Mortgage … Continued

Vancouver Island September Home Sales in Vancouver Drop

Just two months after the BC Government applied a 15 per cent tax to foreign buyers of property in the city, home sales in Metro Vancouver have dropped by one-third. The Real Estate Board of Metro Vancouver released their September statistics, showing plunging sales by 32.6 per cent compared to this time last year. The … Continued

Plummeting Real Estate Inventory Levels in 2016

The Vancouver Island Real Estate Board (VIREB) area is currently experiencing historically low inventory levels for single-family homes. Based on annual comparative statistics, inventory levels for single-family homes have decreased by 38%, with 1,394 available properties in August 2016. When measured against July 2016’s inventory levels of 1,577 available listings, August 2016 still displays a … Continued

July’s Simmering Vancouver Island Housing Market

July’s Simmering Housing Market A simmering effect is developing across Vancouver Island’s housing market. Annual data shows a growth rate of 19% in home sales since July 2015. Yet, on a month-to-month basis, Vancouver Island’s housing market has slowly tapered off. July 2016 saw a 15% decrease in home sales compared to the previous month … Continued