This summer was a very active in our local real estate market.  The sunny weather and abundance of tourism helped put people in the home buying mood with many people purchasing to move and others as a strict investment.  The Vancouver Real Estate Board reported that for the 16th consecutive month, sales on MLS increased year over year.




We’ve continued to enjoy a long period of historically low interest rates that have created tremendous homebuying opportunities. As economies around the world begin to show signs of improvement, it won’t be long before there is upward pressure on interest rates so it is important to take advantage of today’s low rates while you can.

When rates do eventually increase, it will affect people’s buying power. For example, on a $350,000 mortgage with a 10% down payment and a five-year mortgage at 2.99%, today’s monthly payments are $1,654. If rates go up by just half a point, those payments will increase by almost $100 a month! Buying a new home today will save you money in the long run.


Because of the low interest rates we are seeing a lot of first time buyers getting into the market.  Personally l love guiding first time buyers into their first home.  Not only is it a very exciting time for them but also for me as I can be a part of helping them with their biggest investment.  BUYING A HOME.

I'm also noticing that many parents are helping their kids with their initial downpayment, helping to clear debts or adding themselves to the title.  Our parents generation generally made a significant amount of money on their real estate investments so it is great that they are able to help out their children.  I am here to help first time buyers and their parents with this process and know some great areas and buildings to target.


Vancouver was once again voted by The Economist as the world’s third most liveable city and is the top Canadian city on the list. People from all over the world want to live here and British Columbia is expected to receive upwards of 40,000 new immigrants annually.

With both interest rates and vacancy rates remaining low in Metro Vancouver, many wise investors are diversifying their portfolios to include real estate. Over the last five years, the average house price in Vancouver has increased by 32% and over 10 years, the increase has been an astounding 109%!

These figures highlight how strong demand for housing in the lower mainlad remains and reinforces the benefits of investing in real estate. 

Give me a call if you would like to discuss your next step.  I am here as a resource for you!  604-363-7858

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Housing market activity follows 10-year August averages

VANCOUVER, B.C. – September 3, 2014 – The Metro Vancouver housing market
experienced steady home sale, listing, and pricing trends for the month of August.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property
sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in
August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales
recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July

“Activity this summer has been strong but not unusual for our region,” Ray Harris, REBGV
president said. “The volume of home sales has been higher than we’ve seen in the last three
years, yet below the record-breaking levels of the past decade.”

Last month’s sales were 4.3 per cent above the 10-year sales average for August of 2,658.
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver* is currently $631,600. This represents a 5 per cent increase compared to
August 2013.

“Broadly speaking, home prices in the region are continuing to experience modest,
incremental gains,” Harris said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled
3,940 in August. This represents a 5.9 per cent decline compared to the 4,186 new listings
in August 2013 and a 20 per cent decline from the 4,925 new listings in July. Last month’s
new listing total was 8.4 per cent below the region’s 10-year new listing average for the

The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,768, a 7.9 per cent decline compared to August 2013 and a 5.4 per cent
decrease compared to July 2014.

Sales of detached properties in August 2014 reached 1,158, an increase of 10.1 per cent
from the 1,052 detached sales recorded in August 2013, and an 85.6 per cent increase from
the 624 units sold in August 2012. The benchmark price for detached properties increased
6.6 per cent from August 2013 to $984,300.

Sales of apartment properties reached 1,126 in August 2014, an increase of 10.6 per cent
compared to the 1,018 sales in August 2013, and a 55.3 per cent increase compared to the
725 sales in August 2012. The benchmark price of an apartment property increased 3.6 per
cent from August 2013 to $379,200.

Attached property sales in August 2014 totalled 487, a 9.7 per cent increase compared to
the 444 sales in August 2013, and a 62.3 per cent increase over the 300 attached properties
sold in August 2012. The benchmark price of an attached unit increased 3.9 per cent
between August 2013 and 2014 to $474,900.

* Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West
Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richm

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