Speaking at RealtorQuest, Warren Jestin, the chief economist for ScotiaBank, said Canada’s central bank likely won’t raise interest rates, possibly until the end of next year. Jestin pointed to several reasons behind his forecast, each of which he said led to the Bank of Canada’s concern for the economy, which, in turn, is keeping rates low. The first concern is the low value of oil. Jestin said Canada’s economy is traditionally dependent on commodities, so the …
In anticipation of significant economic growth in many parts of Northeast B.C., the government is hosting a series of education sessions for both landlords and tenants. “The area is experiencing rapid growth and huge demand to increase the labour pool for large construction projects like the Site C Dam,” says Cynthia Aaesen, managing broker at Investment Revenue Realty. “It’s likely that tenants and landlords are making more inquiries about the rules around the Residential Tenancy …
The latest onslaught of flip-focused television shows make the strategy look thrilling and easy, but experts on the ground say that investors should focus on the long-term game instead. “When you buy and hold, you don’t have to worry about timing the market,” said Freedom Malhotra, the founder of Condo Planet in Mississauga, Ont. “As long as you don’t buy above market value and you do crunch the numbers, you should be very happy with …
House prices in Vancouver have increased again with the average cost of a detached house rising 12.5 per cent in April to $1.08 million and the benchmark for a typical home now at $673,000. The Real Estate Board of Greater Vancouver said Monday that a low level of listings has pushed prices higher; sales were up 37 per cent from April last year. There are currently 12,436 listings on the MLS for Greater Vancouver, that’s …
Average Vancouver home now 12.5 per cent more expensive Read More »
Housing starts in one province have increased by 83 per cent year-over-year, according to new figures. In Ontario, the seasonally adjusted annual rates (SAAR) of urban starts were 4,485 in March 2015, a significant increase on the 2,456 urban starts in March 2014. Across the country, the SAAR of urban starts also increased in British Columbia (23 per cent), the Prairies (28 per cent), Alberta (33 per cent) and Manitoba (four per cent), but down …