Month: May 2022
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Vancouver townhouse sells for 14% below 2016 purchase price
A townhouse in a “prestigious 10-acre family estate centrally located on Vancouver’s coveted West Side” has sold for 14% below what the seller paid for it in 2015. The seller bought 1517 Atlas Lane in June 2016 for $1,720,000. The three-bedroom three-bathroom townhouse was put on the market in April of this year for $1,599,000. […]
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Real estate fraudster is the beneficial owner of 65 properties, transparency registry shows
A Surrey man found by a judge to have committed real estate fraud is the beneficial owner of 65 properties, BC’s beneficial ownership registry shows. The Land Owner Transparency Registry shows that an individual by name of Xiao Dong Liu is the beneficial owner of 65 properties. 64 of those titles are held by Carthew […]
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Metro Vancouver median townhouse price down 5.7% from peak
The median sales price for Metro Vancouver townhouses is down 5.7% so far in May from the February 2022 peak. The median sales price for Metro Vancouver townhouses currently stands at $990,000. It peaked at 1,050,000 in February 2022. The median sales price for Vancouver townhouses dropped 21% to $1,180,000 from the February 2022 peak […]
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Vancouver townhouse sells for 38% below 2015 purchase price, but there may be a catch
A townhouse in Vancouver’s rapidly changing Oakridge neighbourhood has sold for 38% below what the seller paid for it in 2015. The seller bought 6022 Oak Street in July 2015 for $1,346,800. The two-bedroom four-bathroom townhouse was put on the market in January of this year for $1,828,800. The 1783-square-foot unit finally sold last week […]
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Metro Vancouver median detached home price down 7.2% from peak
The median sales price for Metro Vancouver detached homes is down 7.2% so far in May from the February 2022 peak. The median sales price for Metro Vancouver detached homes currently stands at $1,800,000. It peaked at $1,940,000 in February 2022. The median sales price for Vancouver detached homes dropped 9.6% to $2,400,000 from the […]
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Shrinkflation: Vancouver apartments shrunk over the decades even as prices skyrocketed
By Rohana Rezel Vancouver’s real estate market is famous, or infamous, for its seemingly unstoppable rise in home prices over the last two decades. Metro Vancouver’s apartment prices have risen by a whopping 375% between 2002 and 2022. While the prices of apartments are growing at breakneck speeds, the apartments themselves are shrinking. We analyzed […]
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At least 40% of Airbnb listings violate Vancouver bylaws
By Rohana Rezel Our scan of Airbnb listings carried out during the first week of May 2022 shows that at least 894 of the 2,212 short-term (less than 30 nights) accommodation listings on Airbnb are in breach of one or more of the City of Vancouver short-term rental bylaws. Summary Visible Number of Airbnb Listings […]
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Metro Vancouver townhouse market slows down in April
Metro Vancouver townhouse market activity slowed down in April, with prices coming off record highs as sales fell in the segment that has shown the biggest gains during the pandemic housing boom. The OpenHousing Home Price Index for townhouse properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 7.13% […]
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Bank of Canada deputy governor’s real estate investment portfolio grew by $548K during pandemic
Bank of Canada’s senior deputy governor Carolyn Rogers’s real estate portfolio appreciated by $548,000 during the pandemic as low interest rates set by the central bank helped propel Canada’s home prices to record highs. The deputy governor’s disclosure statement record she has joint ownership of two rental properties in Victoria, British Columbia. BC Assessment records […]
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Metro Vancouver detached home market cools down in April
Metro Vancouver detached home market activity cooled down in April 2022, as falling sales knocked prices off the all-time high recorded in March. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 7.11% year-over-year, the April month-end update shows. This represents a […]
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