Tony’s Latest Updates – January 29,2015

January 29, 2015 under Tony's Latest Updates
It’s all about interest rates. Forget about the deteriorating real estate conditions in Alberta or the depressed price of oil. The recent lowering of the interest rate from the Bank of Canada last week has taken centre stage. Canadian banks were reluctant to pass along the savings but after some public pressure they have lowered the prime rate by 15 basis points. Of course this did not match the decrease by the b
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B.C. judge kills Yaletown development after flawed land swap process

January 28, 2015 under Useful Articles
By Jeff Lee, Vancouver Sun January 28, 2015. Artist’s rendering of condo tower proposed for the corner of Helmcken and Richards in Vancouver. Photograph by: Brenhill Developments , Vancouver Sun A B.C. Supreme Court decision throwing out a major development in downtown Vancouver over a flawed public hearing has reignited election criticisms over transparency and fairness at City Hall. Leaving no question
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TD Bank predicts another rate cut in March, lower house prices

January 28, 2015 under Useful Articles
by Jamie Henry | 27 Jan 2015 A further 0.25 per cent cut in interest rates is being forecast for March in a new report from the TD Bank. The outlook for the economy predicts slower growth this year (2 per cent compared to the 2.3 per cent predicted in December) and the continuing low oil price prompting the BoC to cut the rate to 0.5 per cent. TD economists also expect house prices to fall in 8 provinces during thi
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High-end sales hit new record in Vancouver

January 21, 2015 under Useful Articles
by Jamie Henry | 20 Jan 2015 The number of Vancouver properties selling for $3 million or more hit a new record last year. The Macdonald Realty Group reports that there were 842 properties in the price bracket in 2014, an increase of 31 per cent from 2013. While most of the high-end homes sold were single-family detached properties there were also many condos at higher prices. The record for homes selling above $5
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City of North Vancouver revives OCP debate Council votes 4-3 to dust off draft community plan

January 19, 2015 under Useful Articles
Brent Richter / North Shore News January 14, 2015 12:00 AM Like a phoenix rising from the ashes, or perhaps more like a zombie rising from the grave depending on how you look at it, the City of North Vancouver’s official community plan is back. In one of its first serious debates of the new term, council voted 4-3 on Monday night to revive the high-level planning document and hold a new pubic hearing –
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Tony’s Latest Updates – January 15,2015

January 15, 2015 under Tony's Latest Updates
BC tax assessments are out and show gains in value for most homes in the Metro Vancouver region. Many economists along with CREA have been predicting that Real Estate sales and values will increase in British Columbia throughout the year. The prediction for Alberta was similar until recently. In particular, housing activity in Calgary has started the year with an increase in listings and a decreasing trend in sa
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Today’s Interest Rates

January 15, 2015 under Interest Rates
Best Variable rate: 2.25%*, Best 3 year fixed: 2.29%*, Best 5 year fixed: 2.54%*, Some conditions apply. *O.A.C. E.&O.E.  
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Barbara Yaffe: Vancouver lagging behind nation’s rental property boom ‘We are in a mess, and it will have serious social and economic implications’

January 13, 2015 under Useful Articles
BY BARBARA YAFFE, VANCOUVER SUN COLUMNIST JANUARY 12, 2015 The vacancy rate in Vancouver is down to a “mind-blowing 0.5 per cent,” reports realtor David Goodman. Photograph by: Gerry Kahrmann , PNG VANCOUVER — Social and economic forces increasingly are making it fashionable to rent. But Vancouver-area developers aspiring to respond to demand are facing tougher constraints than anywhere else in Canada. Despi
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North Shore’s luxury homes’ assessments head up

January 13, 2015 under Useful Articles
Jane Seyd / North Shore News January 11, 2015 12:00 AM The highest assessed home on the North Shore, a Radcliffe Ave home valued at $24.2 million. Photo Mike Wakefield, North Shore News In the rarified world of waterfront views, his-and-hers garages, infinity pools and temperature-controlled wine cellars, there’s nowhere to go but up – at least where real estate values are concerned. House values a
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BoE Governor warns deflation is now ‘possible’ Inflation has slipped to a 14-year low of 0.5pc, lower than economists and the markets had expected

January 13, 2015 under Useful Articles
By Peter Spence, Economics Correspondent 9:36AM GMT 13 Jan 2015 The UK economy is in danger of falling into deflation, the Bank of England’s Governor warned on Tuesday as data showed that inflation had fallen to a 14-year low. Price growth fell to 0.5pc in December, a bigger slump than economists had anticipated. A poll of analysts before the numbers were release predicted that inflation would ease from 1pc to 0
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