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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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Sharp drop in home speculation recorded in Metro Vancouver
Metro Vancouver’s housing market is recording a sharp drop in real estate speculation, with flipping levels plummeting this month after reaching a peak in November last year. The successful quick flip rate (QFR) for single detached properties plunged to just 0.3% so far in April 2022, after hitting a six-year high of 5.7% in November […]
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Metro Vancouver detached house prices reach all time high in March
Metro Vancouver’s detached house prices soared in March 2022 to reach yet another all time high despite sings that market activity is slowing down. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 11.31% year-over-year, the March month-end update shows. This represents […]
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4 in 5 half-duplexes sold for more than the single detached houses they replaced
By Rohana Rezel The Vancouver City Council approved a plan to allow duplexes in all Vancouver neighbourhoods in the dying days of Vision Vancouver’s term in office. Mayor Gregor Robertson and his Vision councillors sold the Making Room proposal as a plan to improve affordability by increasing density. I looked at the real estate data […]
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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 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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