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High immigration levels and mortgage prices are causing would-be homebuyers to remain in rental units in Metro Vancouver. The region has one of the lowest vacancy rates in Canada, with an average turnover rate for rental units decreasing. Factors such as population growth and rising mortgage rates are keeping downward pressure on vacancy rates, making…

Construction Optimism in British Columbia Despite challenges, construction contractors anticipate a busy 2024. Labour Shortages, a Concern Skilled worker shortages continue to be a significant challenge in the industry.

Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400. By the middle of the 18th, it was…

Canadian real estate markets are anticipating cheaper mortgages, but the Bank of Canada's recent announcement suggests that relief may be delayed. The central bank's messaging indicates that rate cuts are not imminent, impacting both variable and fixed rate mortgages. The expectation of delayed inflation normalization is influencing bond yields, potentially stalling the downward rate momentum.…

2024 property assessment in Prince George and North Central BC indicates single-family home values ↓ 3% yearly to $450K.Conversely, strata residential properties like condos and townhouses saw ↑ 1% yearly to $252K.

BC Assessment updated property values, showing minor changes mostly between ↓ 5% to ↑ 5%. BC Assessment disclosed the top 500 highest-valued residential properties in the province.

恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…

The B.C. homeowner grant, introduced in 1957, is criticized for being outdated and unfair. In 2024, the grant applies to properties valued at $2.15 million or less, covering 92% of B.C. homes.

BC electricity costs may increase by 2.3%, adding ~$2/mo to the avg residential bill starting in April 2024.Rent in BC could go up, with a 3.5% maximum allowable increase in 2024, below the 5.6% inflation rate.