Sales of homes priced over $1 million were up year-over-year in Victoria, Calgary, the Greater Toronto Area (GTA) and Oakville while the luxury market in Vancouver cooled during the first seven months of 2017. Sales of $1 million-plus single-family detached homes declined 32 per cent in Vancouver year-over-year to start ...
Continue ReadingUnlike our American neighbours to the south, Canadians can’t take a mortgage interest deduction on their taxes. However, there is a scenario where the Canada Revenue Agency (CRA) allows taxpayers to mimic the effect of deducting mortgage interest. Fraser Smith, a now-retired financial strategist in Victoria, BC, created the Smith ...
Continue ReadingA video posted to YouTube recently shows what Vancouver looked like in 1964. The fascinating home footage was posted by YouTube user Mark Holtze, who says in the description that it was captured in 1964 by his Great Grandfather Marcel Holtze during a train trip from Toronto to Vancouver. The first ...
Continue ReadingThe average rental price of a one-bedroom apartment in Vancouver has gone up yet again in what some might call the least surprising piece of news this week. The cost of a one-bedroom rental in Vancouver in August was $2,020, up 1.5 per cent from the previous month, according to ...
Continue ReadingWith Greater Vancouver home prices increasing exponentially each year and now at record highs, there is a widespread – and understandable – assumption that most buyers must be taking out huge mortgages to afford real estate in the region. However, the average value of a new mortgage loan in the ...
Continue Readingn the wake of the Bank of Canada’s move Wednesday to boost a key interest rate, Canada’s big banks have boosted their prime rates. RBC was first off the mark, followed quickly by the others, raising their prime rates to 3.2 per cent from 2.95 per cent, where they had been since the ...
Continue ReadingThe Bank of Canada raised its key interest rate by another quarter of a percentage point, up to 1 per cent from 0.75 per cent, on Wednesday. The decision, which follows a first hike in July, could be just the second in a string of rate increases to come, some ...
Continue ReadingFriday, September 1, 2017 Competition for condominiums and townhomes pushed Metro Vancouver* home sales above typical levels in August. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,043 in August 2017, a 22.3 per cent increase from the 2,489 sales recorded ...
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