2024 Will See Rents Lag in British Columbia
National rent growth for both purpose-built and condo apartments was 10.7% in 2023. BC experienced a 1.4% decrease in rents in 2023.
BC’s Higher Housing Density Plan’s Blanket Approach Raises Concerns
Metro Vancouver mayors raise concerns about BC NDP's plan to increase housing density, fearing conflicts with local plans.Bill 44's blanket approach, ending single-family zoning, may clash with existing plans, especially […]
Land Values: The ups and downs of building a real estate development in B.C.
Vancouver developer Anthem Properties has faced challenges in building its Citizen project in Burnaby. The estimated construction cost has increased by $100 million due to unexpected changes and delays. The […]
Canadian Home Sales See Worst Year Since 2008 Financial Crisis
Canadian home sales saw an unexpected increase in December 2023, but it was still the worst year since 2008. The market is not expected to recover just yet, and the […]
Rethinking B.C.’s Homeowner Grant Fairness
The B.C. homeowner grant, introduced in 1957, is criticized for being outdated and unfair. In 2024, the grant applies to properties valued at $2.15 million or less, covering 92% of […]
Property Assessment: BC’s Top Valued Residential Properties
BC Assessment updated property values, showing minor changes mostly between ↓ 5% to ↑ 5%. BC Assessment disclosed the top 500 highest-valued residential properties in the province.
Record number of rental homes registered in B.C. in 2023
In 2023, British Columbia saw a record 30% increase in purpose-built rental homes, with 19,064 homes registered. The construction industry played a significant role in this increase. Additionally, 45,647 new […]
Here’s What Will Cost More or Less in BC in 2024
BC electricity costs may increase by 2.3%, adding ~$2/mo to the avg residential bill starting in April 2024.Rent in BC could go up, with a 3.5% maximum allowable increase in […]
Cost of Metro Vancouver rental housing projects nearly doubles before construction begins
The cost of two affordable rental developments in Metro Vancouver, the Connection and Steller projects, has nearly doubled to $121 million and $94 million respectively, due to rising construction costs, […]
Metro Vancouver housing report highlights rental challenges
Between 2016 and 2021, the share of renters in Metro Vancouver increased from 36% to 38%, while the share of owners decreased from 64% to 62%. Housing construction has not […]