Housing starts in BC urban centers fell 11.1 per cent on a monthly basis to 22,273 units SAAR.

On a year-over-year basis, housing starts were 5 per cent higher compared to February 2014.

Single-detached starts were 11 per cent higher year-over-year while multiple units were up 1 per cent compared to this time last year.

Looking at census metropolitan areas (CMA) in BC, total starts in the Vancouver CMA were down 11 per cent year-over-year due to a 22 per cent decline in multiple starts.

Single-detached starts in Vancouver were 24 per cent higher.


Will lower inventory place pressure on prices?

March 9, 2015

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Please visit our Open House at 201 1450 LABURNUM ST in Vancouver.

Open House on Saturday, March 7, 2015 1:00 pm - 2:00 pm

KKKKKKits Point! Enjoy summers on the large 20' balcony of this spacious one bedroom overlooking huge magnolias. This is the best location, offering peace and quiet and you'll love being steps to world famous Kits Beach with thetennis courts and transportation at your doorstep. Live the highly desirable Kits Point lifestyle. No rental retriction and one pet welcomed. Features one secured parking stall and full sized locker. Hot water heat included in Maintenance fee. Building has been repiped, new roof and membrane and fence. A perfect investment, pied-a-terre or home. Possession Mar 31st. tenanted, 24 hrs to show. Walkscore: 90. Must be sold immediately! OPEN HOUSE: Saturday March 7th, 1-2 PM.

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March 4, 2015

What can a Vancouver real estate buyer do when the deposit has to be paid within one day after subject removal and the banks are closed?

Because the deposit is not paid in time the seller has the right to void the transaction.

There was nothing to prevent the buyer from paying the deposit before the conditions were removed, so the buyer has no reason to complain that he lost the deal.

If you are removing subjects on a specific date, the deposit should always be due no later than that date.

Also, make sure your condition removal date is not on a non-banking day.

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March 4, 2015

The Bank of Canada did not change the interest rate today, but held it steady at 0.75%.

However, it is anticipated that the rate will be cut one more time, probably in the summer, to compensate for the falling canadian dollar, which will result in higher prices for Canadians of imported goods.

Stay tuned!

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The Canadian economy grew 2.4 per cent in the fourth quarter of 2014, led by growth in consumer spending and inventory accumulation. Both exports and business investment, two key pillars of the Bank of Canada's hoped for rotation of away from consumption led growth, declined.

For all of 2014, Canadian economic growth registered 2.5 per cent, following just 2 per cent growth in 2013

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