Tony’s Latest Update – Aug 21,2014

August 21, 2014 under Tony's Latest Updates
Condo Report A recent Conference Board of Canada condo report  forecasts that “while some pockets of higher risk still exist in Toronto and Vancouver, a broad-based downturn is unlikely.”  It states that population, economic and employment growth should keep the market stabilized.   I believe locally we will continue to see affordability issues as prices continue to rise. Two charts below that I think are w
comments: Comments Off

Vancouver ranks as the most expensive city in Canada – again

August 19, 2014 under Useful Articles
By Emma Crawford Hampel | Fri Jul 11, 2014 9:32am PST Vancouverites enjoy mountain views, ocean breezes and mild winters, but these things don’t come cheap. The city has been ranked once again as the most expensive city in the country in Mercer’s annual cost of living survey, beating out Toronto for the second year in a row. The study looked at 214 cities around the world and compared the cost of 200 items, inc
comments: Comments Off

Vancouver is North America’s most livable city, third worldwide: Economist

August 19, 2014 under Useful Articles
By Emma Crawford Hampel | Tue Aug 19, 2014 8:50am PST The Economist has released its annual ranking of the world’s most livable cities and although Vancouver hasn’t topped the list since 2011, the city is still considered one of the best places in the world in which to live. Vancouver takes top spot in North America and is the third-most livable city in the world. The city received an overall rating of 97.3 out
comments: Comments Off

China Home Prices Fall in Most Cities on Weak Demand

August 18, 2014 under Useful Articles
By Bloomberg News | Aug 18, 2014 5:31 PM GMT+0800 China’s new-home prices fell in July in almost all cities that the government tracks as tight mortgage lending deterred buyers even as local governments eased property curbs. Prices fell in 64 of the 70 cities last month from June, the National Bureau of Statistics said today, the most since January 2011 when the government changed the way it compiles the data. Be
comments: Comments Off

Commercial construction outpaces home building

August 14, 2014 under Useful Articles
By Frank O’BrienWed Aug 13, 2014 1:45pm PST. Lower Mainland commercial building permits outpaced the residential sector through the first half of this year and are expected to retain the lead as home building heads for a “soft landing.” Total building permit values in the region were 3% lower at $3.39 billion in the first six months of 2014 compared to $3.49 billion in the first six months of 2013, according
comments: Comments Off

Tony’s Latest Update – Aug 7,2014

August 7, 2014 under Tony's Latest Updates
Prices and Sales Rise Existing home sales in Vancouver for July were 4% higher than last year with prices also increasing over 4% for the same period.   In addition to very low mortgage rates, the total number of properties listed is down 6% from last year adding to the upward pressure on prices. Similar results are occurring in many cities across the Country. Geopolitical conflicts continue to hold rates low and
comments: Comments Off