$40-million residential complex planned for Nanaimo

$40-million residential complex planned for Nanaimo

Vancouver’s Molnar Group is planning a $40-million apartment and townhouse project in Nanaimo as it continues to roll out development plans around Vancouver Island. “We are big believers in the Vancouver Island market. We came over there long before major developers were coming there like they are now,” said Dak Molnar, managing director of the […]

Greater Victoria real estate market mirrors provincial trends

Greater Victoria real estate market mirrors provincial trends

A series of new figures show the local housing market in a state of uncertainty. New figures from Canada Mortgage and Housing Corporation (CMHC) paint a mixed picture when it comes to new housing starts. Housing starts in the category of detached homes dropped by 32 per cent in March 2018 compared to the same […]

Bank of Canada keeps key interest rate steady at 1.25%

Bank of Canada keeps key interest rate steady at 1.25%

The Bank of Canada is maintaining its trend-setting interest rate as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth. The central bank, which kept its rate at 1.25 per cent Wednesday, said slower first-quarter growth of about 1.3 per cent was largely a result of housing markets’ […]

B.C. residential real estate values predicted to keep climbing as seller’s market persists Despite slowing sales caused by government interventions, 12-year-low home listings means prices will “continue upward trajectory,” asserts real estate association

B.C. residential real estate values predicted to keep climbing as seller’s market persists Despite slowing sales caused by government interventions, 12-year-low home listings means prices will “continue upward trajectory,” asserts real estate association

Sales of homes on the Multiple Listing Service® (MLS®) across the province in March were down 24.6 per cent from the same month last year. The BCREA said this was caused in large part by government measures to cool the housing market such as the strict new mortgage qualification rules launched in January, which typically […]

Property heading to ? 7 reasons why hard to tell

Property heading to ? 7 reasons why hard to tell

n some ways it would be easier to plan if we really knew for sure whether Canadian home prices were about to fall off a cliff as so many people keep predicting. But of course that’s not how markets work. A difference of opinion about the future is one of the reasons why there is always a […]

Dear Monty: Tips for testing real estate agents

Dear Monty: Tips for testing real estate agents

Reader Question: I envision the real estate service is delivered differently than a physical product. I can touch a product, examine it, use it according to instructions to “test” if it works. Outside of the legal documents, much of the real estate service is oral. I cannot “test” it in a traditional sense. Can you […]

B.C. builder sees hope in new tax laws

B.C. builder sees hope in new tax laws

Since British Columbia introduced the foreign buyer tax almost two years ago, Kenny Wong’s custom home construction business has been booming. The foreign buyer tax, which was just recently increased to 20 per cent, is largely credited for the big drop in house sales in the high-end neighbourhoods. But Mr. Wong says that because of the […]

Sidney implores B.C. to rethink real estate speculation tax

Sidney implores B.C. to rethink real estate speculation tax

The Town of Sidney is calling on B.C. to take a second look at its contentious speculation tax, warning that many longtime homeowners who contribute to the community are already planning to sell their properties. “We have some serious concerns about the impact of this tax on our community and its residents who own vacation […]