Blog Posts - Surrey Real Estate

The insanity, it seems, is not over. Despite ongoing warnings from the CMHC that the Vancouver housing prices are overvalued and have outpaced the economic fundamentals in the city, they keep climbing. In the past year, the benchmark price for a deta...

It released its annual assessment figures January 4 and it provided a few examples of some individual assessments including one for an East Side, single-family, 33-foot lot, which jumped by 28% from $993,000 to $1,267,000, and one for a West Side, si...

Not “good” interesting. “Scary” interesting. “We believe the Bank of Canada will begin raising (interest) rates in March 2016,” a new report from the Ottawa-based economic think-tank says, predicting slow and gradual rate...

There are more people trying to buy than there are people trying to sell their homes in Metro Vancouver. The Real Estate Board of Greater Vancouver has found sales for all types of homes in April were 30 per cent higher than the ten-year average. Sal...

From Albertan black gold to globetrotting wealth to lucky heirs, big money is flocking to Vancouver real estate and fuelling huge price increases that show no sign of stopping, according to the CEO of Sotheby’s Canada. “You’re not only going to...

Greater Vancouver’s housing market is booming this spring as residential sales soar and prices hit record highs, placing sellers in a strong position. There were 4,060 single-family detached homes, condos and townhouses that sold in the region...

Strong demand in Metro Vancouver – Canada’s hottest real estate region – has pushed typical detached home prices past the $1-million mark, with February sales well above average. Who is purchasing the homes, and how can they afford...

That view, expressed recently by Business Council of B.C. executive vice-president Jock Ferguson, reflects the sentiments of many. However, similar observations have been made in the past. Still, the cost of housing in the Vancouver area has kept cli...

The Real Estate Board of Greater Vancouver released new figures yesterday that showed the typical detached property in the area increased 8.4 per cent from January 2014 to $1,010,000. The benchmark price for all residential properties in Metro Vancou...

Canada’s major banks are heading into a renewed mortgage price war in the wake of the Bank of Canada’s surprise decision to cut interest rates. Mortgage brokers reported that Royal Bank of Canada dropped its five-year fixed rate for quali...

Already ranked as one of the most unaffordable cities in the world, Vancouver’s heated real estate market could get a further push, after the Bank of Canada cut the overnight lending interest rate to 0.75 per cent. The rate had been at one per...

First-time home buyers are spending more to get into homeownership while some are putting off the buying decision based on financial considerations, says a new report from BMO. The average spent in Canada by first-time buyers is $316,100, up from $30...

Buy a house. Don’t buy a house. Soft landing. Crash landing. As we start the new year, the question on everyone’s mind is: What can we expect from Canada’s housing market? Once again, experts agree that housing affordability is stretched, h...

Housing prices in the Lower Mainland are predicted to rise a modest three per cent in 2015, while Canada’s highest prices, in Vancouver, will be sustained by demand from Mainland Chinese buyers. That’s the view from RE/MAX’s 2015 na...

After 18 months on the job, Bank of Canada governor Stephen Poloz has yet to wield the primary tool at his disposal: the key interest rate. When Poloz took the bank’s reins in June 2013, he inherited an overnight rate set nearly three years ear...

The benchmark price for a typical detached home – a gauge that omits the most expensive properties – is approaching $1-million in Greater Vancouver. The Real Estate Board of Greater Vancouver uses the resale home price index (HPI), which strips o...

One measure which suggests that housing demand is relatively strong heading into 2015 is the number-of-months’ supply of homes for sale in Canada, which declined from 5.9 to 5.8 in October, its lowest level since April of 2012. Also, year-over-...

Even though real estate prices have been rising faster than inflation and are going through the roof in some parts of Canada, home ownership actually became more affordable in the third quarter, according to a quarterly survey by RBC Economics. The b...

The total number of home sales in Greater Vancouver is expected to hit 33,800 units by the end of 2014, the British Columbia Real Estate Association announced November 18 in its housing forecast. This is 16.6% higher than the number of units sold in...

The average price of a home sold through the Multiple Listing Service last month was $419,699 – up 7.1 per cent from $391,931 in October 2013. That’s according to new numbers from the Canadian Real Estate Association (CREA), which reports on...

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