Open Housing - Page 4 of 14 - Real estate data transparency

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Metro Vancouver detached prices reach all time high in February

Metro Vancouver’s detached house prices soared in February 2022 to reach yet another all time high, signalling the region’s housing boom fuelled by ultra-low interest rates and rampant speculation is far from over. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose […]

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$3.4 billion worth of homes flipped in Vancouver during pandemic

The pandemic is bringing misery to millions of Canadians as Covid-19 leaves tens of thousands dead, economic turmoil, and political upheaval in its wake. But for real estate flippers, this global health crisis has proven to be a boon. Real estate speculators have flipped ‒ bought and relisted a property within 12 months ‒ a […]

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City of Vancouver renews Airbnb operators’ licence even after Supreme Court ruled they wrongfully evicted a tenant to make way for short-term rental

The City of Vancouver has renewed a short-term rental operators’ business licence even after the Supreme Court of British Columbia ruled that the pair had wrongfully evicted a tenant to list the rental unit on Airbnb. Last year, the Supreme Court upheld the Residential Tenancy Branch (RTB) decision to award $14,500 to a tenant against […]

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Metro Vancouver detached prices reach all time high in January

Metro Vancouver detached home prices started the new year with a rally, reaching an all time high in January 2022. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 11.38% year-over-year, the January month-end update shows. This represents an increase of 5.08% […]

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Metro Vancouver detached prices flat in September

Metro Vancouver detached home prices remained flat in September, as both listings and sales continued to decline in the month. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 10.94% year-over-year, the September month-end update shows. This represents a decrease of 0.13% […]

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A simple plan to make housing affordable in Canada

By Rohana Rezel Here’s a simple three-point plan to make housing affordable in Canada: One SIN one home Penalize Airbnb and other short-term rental platforms for illegal units Fund massive build out of non-market rentals 1. One SIN one home (OSOH) Every home purchase must be linked to a Social Insurance Number (SIN). And one […]

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Metro Vancouver detached prices reach another all-time high in August

Metro Vancouver detached home prices have hit another all-time high in August 2021 breaking the previous record set just a month earlier. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 9.32% year-over-year, the August month-end update shows. This represents an increase […]

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Metro Vancouver detached market sees a shift as buyers drop out faster than sellers

Metro Vancouver single family detached home market appears to be heading towards a balanced market as the number of sales decreases faster than the number of listings. The sales to new listings (SNL) ratio for detached currently stands at 39, indicating a buyer’s market. But the shift in market sentiment still does not appear to […]

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Abbotsford Mayor sells property held through corporation after value shoots up 9-fold in one year

July 5, 2021

The Mayor of Abbotsford has sold a property in the city he held through a corporation after the assessed value of the property shot up nine-fold in a year due to a change of property use classification. HGE Investments Ltd. sold the property at 3044 Pratt Street on Jan 28, 2021 for $1.9 million after […]

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Metro Vancouver detached prices retreat from record highs

Metro Vancouver single family detached home prices retreated from record highs in June 2021, after seven months of continuous growth. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 10.41% year-over-year, the June month-end update shows. This represents a decrease of 1.80% […]