News

  • This article, Surrey health-tech hub hoping to build billion-dollar business by Patrick Blennerhassett (with files from Tyler Orton) was originally published in Business in Vancouver on February 23, 2016

    Rendering of City Centre 2 from Lark Group website.

    The Surrey Health and Technology District will inject $1.1 billion annually into the local economy once construction is completed in less than a decade, its backers say.

    Spearheaded by the Lark Group, the eight-building, $625 million project, which will be a part of the larger Inn…

    Read More

  • This article, Developers hoping feds provide transit infrastructure clarity by Peter Mitham was originally published on Buisness in Vancouver on February 23, 2016

    Broadway bets
    With promises of greater infrastructure funding from the new crew in Ottawa, and Victoria’s pledge last year to ante a third of the cost of new rapid transit funding, developers in Vancouver are hoping at least one level of government might allocate dollars this spring.

    Victoria made no promises in last week’s provincial budget, but next month’s offering…

    Read More

  • This article, B.C. budget offers new-home buyers big incentives, by Jen St. Denis was first published in Business in Vancouver on February 16, 2016

     

    In a bid to make housing within reach of more people, the B.C. government will give a big tax break to buyers of new homes worth up to $750,000.

    The property transfer tax exemption, included in today’s 2016 provincial budget, will apply to newly constructed housing, including detached homes, townhomes, condos, and existing homes that have been newly subdivided into a strata. A ne…

    Read More

  • UDI Pacific’s ‘State of the Market’ quarterly publication for Q4-2015 is now available.

    Download the complete report here.

    The overall aim of the report is to provide up to date statistics and trends on the new home and re-sale housing markets as well as the amalgamation of relevant economic statistics that impact the housing market.

    The report also includes the Housing Affordability Index which is derived from Urban Analytics’ New Home Source database. The Affordability Index is a benchmarking tool for identifying trends in afford…

    Read More

  • “If we can figure out how to make them happy we’ll all be rock stars”

    On the heels of his new book, The Stackable Boomer, David Allison spent his breakfast hour sharing some incredible insight into the Boomer’s impact on the Metro Vancouver real estate market.

    According to Allison, in order for developers and builders to truly harness the buying power of the Boomer generation, they need to think differently. This paradigm shift theory, which comes from thoughtful research and conversations with 1,000 baby boomers, centres arou…

    Read More

  • This article Hot Vancouver apartment market expected to sizzle by Steve McLean was originally published in Property Biz Canada on RENX.ca on January 28, 2016.

     

    Multi-family rental building sales in Greater Vancouver rose by 47 per cent to 181 transactions and the dollar volume soared by 99 percent to $1.55 billion last year in comparison to 2014.

    Things could heat up even more in the coming 11 months.

    “It wouldn’t surprise me if we were above 200 buildings and we could come close to the $2 billion range,” said David …

    Read More

  • “Continued, but softened, growth in 2016” for Metro Vancouver’s real estate market according to UDI Vancouver’s panel of development experts. 

    Late last week, UDI Vancouver hosted its much anticipated Annual Forecast Lunch which brought in a crowd of over 1,100 to hear John Horton, President of Shape Properties, Peeter Wesik, President of Wesgroup Properties, and Jon Stovell, President & CEO of Reliance Properties share their perspectives on the market’s driving forces and what we can expect to see in 2016.

     

    Fo…

    Read More

  • Willoughby continues to be the fastest growing neighbourhood in the Township of Langley. Click here to read our Neighbourhood Updates article.

    Development over the past 5 years has been focused, primarily, in the eastern and northern portions of Yorkson but as school, park and detention pond requirements are satisfied in neighbouring regions, new areas are opened up to developers. The green highlighted regions on the below map indicates regions containing a high concentration of new development applications, revealing a short term movement w…

    Read More

  • Willoughby continues to be the fastest growing neighbourhood in the Township of Langley. With a current population of 28,000 and an expected population of 80,000 by 2041 there is an obvious need for community development especially as inventory levels continue to drop across the Fraser Valley. Staying connected to market leading developers and the Township of Langley allows us to understand the timeline to development for each of Willoughby’s neighbourhoods:

    1. Yorkson
    It is time to shift focus to the West side of 208 Street where the…

    Read More

  • This article Canadian home sales in 2015 nearly break all-time sales record by Josh Sherman was originally published on BuzzBuzzHome News on January 15, 2016

     

    2015 was the second-best year on record for home sales in Canada, according to the Canadian Real Estate Association (CREA).

    The number of homes changing hands nationwide last year increased 5.5 percent over 2014 on a seasonally adjusted basis, pushing activity to a level that was only 3 percent shy of 2007, the best ever year for home sales in Canada.

    In total, 506,3…

    Read More

  • This article Coast Capital Savings anchors Surrey transit hub by Steve McLean was first published on Property Biz Canada on RENX.ca

    Rendering of the Capital Coast Savings headquarters from the PCI Developments website

    The recent opening of Coast Capital Savings’ “Help Headquarters” completes the first phase of The HUB at King George Station development and marks the next step in the impressive evolution of Surrey, B.C.

    “Surrey is a really exciting place with a growing, young and educated population, with the Surrey city cen…

    Read More

  • This article, B.C. industrial property assessments rise at a measured pace by Derrick Penner was originally published in the Vancouver Sun on January 11, 2016.

     

    Photo by A_Peach

    British Columbia’s most valuable industrial property — Rio Tinto Alcan’s Kitimat aluminum smelter — saw its 2016 property assessment rise to $579 million, up four per cent from a year ago, which was in keeping with most large-scale business properties across the province.

    While skyrocketing residential assessments across Metro Vancouver sp…

    Read More

  •  

    Purpose-built rentals have been a hot topic in the media lately and a big topic of conversation amongst industry professionals in Canadian cities across the country. Drivers for these purpose-built rentals include historically low cap rates, high demand from investors, low interest rates and vacancy rates as low as 0.6% in Guelph, 1.2% in Victoria and 1.4% in Vancouver. The combination of these factors has made rentals an attractive investment opportunity and an increasingly important piece of the multi-family residential real est…

    Read More

  • Examining a multi-family development property in South Surrey, as a potential purpose-built rental site.

    Property information:

    15436 31 Avenue, Surrey
    Located in the Rosemary Heights neighbourhood of South Surrey
    1.427 acre site
    Development permit ready for 86 condominium units
    Backs onto greenbelt with park-like setting
    Designated live and work in official community plan

    Observations
    What we noticed when developing the proforma is that there is approximately a 30% differential between the rental rates that CMHC quotes …

    Read More

  • This article, B.C. government confirms Massey Bridge will be tolled, have 10 lanes, by Jen St. Denis was originally published on BIV.com on December 16, 2015

     

    The Massey Bridge will be a carbon copy of the new Port Mann Bridge: a massive 10-lane bridge paid for by tolling revenue.

    The provincial government plans to spend $3.5 billion on the bridge, which will replace the four-lane George Massey Tunnel that goes under the Fraser River and connects Richmond to Delta.

    At an announcement earlier today, Transportation Minis…

    Read More

  •  

    This article, Developers scramble to meet market demand for Metro townhomes, by Peter Mitham was originally published in BIV.com on November 24th, 2015

    Courting townhomes
    Mosaic Avenue Realty Ltd. has picked up a 7.1-acre development site in the Baycrest area of Burke Mountain in Coquitlam from Harwood Group for $15.3 million.

    Mosaic must rezone the site prior to starting construction, but Coquitlam planning documents allow approximately 115 townhomes on the site, making it a rare opportunity for developers. The exclusi…

    Read More

  • This article, Suburbs feel the heat in Canada’s top industrial market, by Frank O’Brien was originally published on BIV.com on November 25, 2015

     

    The Vancouver region now represents the strongest industrial real estate market among Canada’s major cities, with the lowest vacancy rates and the highest demand curve in the country, and municipalities are raking in the cash from developers.

    In the third quarter of this year alone, more than 2.4 million square feet of industrial space was leased or sold, double the pace of …

    Read More

  •  

    “We are committed to an integrated and sustainable transit infrastructure,” was the message from Peter Fassbender at the Urban Development Institute’s (UDI) lunch last week.

    This summer Peter Fassbender, MLA for Surrey-Fleetwood, was appointed the Minister of Community, Sport, Cultural Development as well as the Minister Responsible for TransLink. On Thursday, November 19th, the Vancouver Urban Development Institute (UDI) brought Fassbender to its members to discuss, among other things, transit infrastructure strategy in …

    Read More

  • With the federal election a few weeks behind us now we have a better handle on how The Liberal Party’s extensive list of promises is going to impact Metro Vancouver’s red hot real estate market. On October 29th, NAIOP Vancouver brought us a panel of experts to discuss just that. Moderated by Jen Podmore of Deloitte LLC, we heard from Ryan Beedie, President of the Beedie Group, Vaughn Palmer, political columnist for The Vancouver Sun and Kevin Falcon, Executive Vice President of Anthem Capital and former Minister of Transportation. The k…

    Read More

  • Michael Ferreira’s Three Legged Housing Market of Buyers, Land and Municipalities. 

     

    Michael Ferreira, Principal of Urban Analytics, is a household name in Metro Vancouver real estate and the go-to authority on market analysis. On October 22 he updated UDI Vancouver’s members on the current real estate market conditions and outlined the 3 factors driving the current market conditions: Buyers, Land and Municipalities.

    Sales Activity is Way Up
    There have been over 20% more sales in Metro Vancouver than this time last year. …

    Read More

  • This article, B.C. Real Estate Association’s Cameron Muir at CanaData West, by JOC Digital Media was originally published on the Journal of Commerce blog on Oct 22, 2015

     

    Cameron Muir, the chief economist for the British Columbia Real Estate Association, took a look at B.C.’s residential real estate outlook at the CanaData West Construction Industry Forecast Conference in downtown Vancouver.

    Muir said the British Columbia economy is strong, which is helping to keep the housing market healthy. In B.C., he said, there is le…

    Read More

  • The fourth annual Mayor’s Panel and Municipal Expo, hosted by the Fraser Valley division of the Urban Development Institute, presented a panel of mayors from Surrey, The Township of Langley, Langley City, Chilliwack, Abbotsford, Maple Ridge and Mission. The Mayors were put on the spot to answer questions on transit investment and economic development strategies.

    On the panel:
    Mayor Jack Froese, Township of Langley
    Mayor Sharon Gaetz, City of Chilliwack
    Mayor Henry Braun, City of Abbotsford
    Councillor Bruce Hayne, City of Surrey
    Ma…

    Read More

  •  

    1. Have you sold other development sites in this area?
    The best development land brokers focus their work in a single geographic area and naturally become experts on the area’s development activity, have built relationships with local developers and understand the key development challenges in the area. It should not be difficult for an area expert to show you a number of their recent transactions in the area. This is a great way to ensure they know the area.

    2. How much development potential does my property have?
    A develo…

    Read More

  • This article, Land-constrained Vancouver’s CRE sales brisk, by Steve McLean was originally published on RENX.ca for Property Biz Canada

     

     

    The second quarter of 2015 was the busiest in five years for commercial real estate property sales in Greater Vancouver, and continued growth is expected across all asset classes.

    RE/MAX Commercial“People are seeing the trend in the value of land going up and they want to get into it,” said Vancouver-based RE/MAX Commercial Advantage managing director Moojan Azizi. “T…

    Read More

  • This article, Strong sales activity continues through August, was originally published by The Fraser Valley Real Estate Board on September 2,2015

     

     

    In August, home sales in the Fraser Valley moderated in comparison to July’s record-setting pace, however, they remained elevated compared to historical norms for the month.

    There was a total of 1,734 property sales processed in August, an increase of 33 per cent compared to 1,302 sales during August of last year and a decrease of 21 per cent compared to July’s…

    Read More

  • Demographics
    Abbotsford is the largest municipality in BC by land area and the fifth largest by population. Its current population is 139,000. From 1991 to 2001 there was a 51% population increase and a similar increase is expected between now and 2036, seeing the population reach 206,000. The median age in Abbotsford is 37.5 years old, which is younger than the BC average. The total population over the age of 15 is 70,535 and of that population 15,165 (21.4%) hold a University certificate, diploma or degree at the bachelor level or above….

    Read More

  • There is currently a shortage of industrial land throughout the Lower Mainland, with prices increasing steadily as a result. While the rest of Metro Vancouver and the Fraser Valley are feeling the pain from this land crunch, Abbotsford is providing solutions.

    The availability and affordability of industrial land in Abbotsford is the result of over a decade of efforts by the city. In 2004 the city submitted an application for exclusion to the Agricultural Land Commission asking to have approximately 900 acres in west Abbotsford removed fr…

    Read More

  • 2014 was a great year for residential development in Abbotsford and the trend for growth is expected to continue in 2015. Single family development in 2014 surpassed both the 5 and 10 year averages with fewer, but much larger, subdivisions. In the first quarter of 2015 alone there were 48 new land development applications, up nearly 30% from Q1 of 2014. 80% of the new residential units are multi-family residential with a heavy focus on apartments. There are over 900 apartment units in construction right now and 69% are in mixed-use developments…

    Read More

  • ALR in Metro Vancouver, Metro Vancouver, About Agriculture in the Region

    In May of 2014 we saw the government pass Bill 24 enacting a number of significant changes to the Agricultural Land Commission Act. The changes included dividing BC’s Agricultural Land Reserve (ALR) into two zones, relaxing regulations on non-farm uses and creating additional support for farmers. Many felt the Act is finally receiving some much needed attention in order to bring it into the 21st century and more specifically a very dynamic decade for real estate.

    Read More

  • Image: George built by Manorlane Homes, hellogeorge.ca

    The Fraser Valley saw the busiest June for home sales in 10 years with 2,103 residential sales. This decade high was a 40.9% year-over-year increase compared with June of last year, and a 20.7% increase compared with May 2015.  There was also an increase of new listings coming to market, 2,760 over the course of the month, with a current 30% sales-to-active listings ratio. Prices went up 7.3% (compared with June 2014) with the benchmark price sitting at $454,200.

    Residential pro…

    Read More

Page 4 of 14« First...2345610...Last »