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February 2017

 
 

Market Report 2016-17: Our Annual Review and Forecast

It would be an understatement to say 2016 was a memorable year for BC real estate. The recent spate of policy changes, along with a looming provincial election, have given buyers and sellers much information to absorb as we enter the 2017 spring market. The Feature Story of our 2016-17 Market Report, "The BC real estate market in 2016: a year with many chapters", offers an industry insiders look at these important changes.

The Market Report also contains a 2016 review and 2017 forecast for each of our geographic markets across B.C., contributed by our local managers, as well as summaries from our residential, commercial, property management, project marketing and global relocation divisions.

Click the cover to access our report

 
 

Local Market Updates

We are one month into 2017. After you've read our Market Report above, check in to see how the January listings and sales turned out.

Just click the city name below for our monthly infographic breakdown of key market data for houses, townhomes and condos.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

New Westminster

North Delta

North Surrey

North Vancouver

Osoyoos

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria

Vernon

West Vancouver

Whistler

5 tips to help plan a home renovation

According to MoneySense, renovation spending has been rising for 15 years—from $45-billion in 2006 to $71-billion in 2015. If we take the total renovation expenditures for 2015, each homeowner would end up spending, on average, about $5,000 on their remodel project.

To help you get the most here are five tips to help you plan your home renovation.

 

B.C. Real Estate News

LOWER MAINLAND

Applications open for 1st-time B.C. homebuyers loan (CBC News)

B.C. lifts foreign buyers tax for people with work permits as housing market cools (Financial Post)

Will China's tightening of foreign currency exchange rules impact our real estate market? (CKNW)

Proposed Port Moody oceanfront community could bring thousands of new residents to the area (BIV)

SQUAMISH, WHISTLER & THE SUNSHINE COAST

Squamish's population boom (The Chief)

More 1st-time homeowners in Squamish using bank of mom and dad

VICTORIA & VANCOUVER ISLAND

CMHC issues alert for Victoria housing, warns of 'overvaluation' (The Globe and Mail)

Victoria councillors' push for foreign buyers tax paused (Times Colonist)

Inventory crunch lifts home values in Nanaimo, Parksville, Qualicum (Times Colonist)

OKANAGAN

Old, young drive sales spike (Castanet)

'Twice the house for half the money': Why Kelowna, B.C., real estate is booming (CBCNews)

 
 

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©2017 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com