header

 

June 2019 Market Update

 

Report says government policies weigh on B.C. housing market

A real estate market outlook by Vancouver's Central 1 Credit Union says tougher federal and provincial government housing policies are behind a drop in demand for resale housing in British Columbia.

The report released on Tuesday says Vancouver is the epicentre of a real estate downturn where home sales dropped 40 per cent since the end of last year as stricter policies deter potential buyers while sellers wait on the sidelines for a rebound.

Report author, Central 1 deputy chief economist Bryan Yu, said that despite B.C.'s strong economy, real estate transactions will decline 11 per cent in 2019 and home values will drop four per cent before a mild market rebound.

"We're probably hitting a bottom," said Yu in a telephone interview. "We will probably be heading up at some point in 2019. It's not going to get much worse than this."

READ MORE

 

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single family homes in cities across BC.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

8 Chelsea Flower Show 2019 gardening trends to try at home

From wild flowers to wildlife, and from optimising space to choosing the right colour scheme for your garden, Country Living rounded up some of their favourite Chelsea gardening trends you can try at home in your own outdoor area.

READ MORE

 
 

B.C. Real Estate News

LOWER MAINLAND

Developers hit pause on riskier, highrise condo projects: Urban Analytics (Vancouver Sun)

Metro Vancouver home prices slide again, sales 43% 10-year average (Global News)

Vancouver two-bedroom apartments now cost close to $3,000: rent report (Vancouver Sun)

Real estate downturn could have consequences for Coquitlam rental construction (Tricity News)

Number of homes for sale in Langley swells as prices decline (Maple Ridge News)

VICTORIA & VANCOUVER ISLAND

Greater Victoria real estate sales rose in May 2019 compared to May 2018 (Sooke News Mirror)

Sales up, benchmark prices down in latest Victoria real estate report (CTV News)

Nanaimo in midst of building boom with projects worth hundreds of millions planned (Times Colonist)

SUNSHINE COAST

Housing inventory stacking up (My Coast Now)

OKANAGAN

Kelowna's real estate reverb (Castanet)

Balanced market for Central Okanagan real estate (Kelowna Daily Courier)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2019 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com