It’s getting to be that time of the year again… the air is getting cooler, the leaves are starting to turn and the listing numbers are blooming.
New
498
Price Change
155
Sold
53
TI:12439
Thanks to paulb for the numbers!
Friday free-for-all!
It’s the end of another week and time for another open topic discussion thread- Friday free-for-all time!
So now that there’s a bit more visibility in the air, what are you seeing out there?
Post your thoughts, anecdotes and news links in the comments below and have an excellent weekend!
BC slides
Kabloona pointed out this article: “dramatic drop in home sales makes B.C. an outlier among provinces”
“VANCOUVER—B.C.’s real-estate market has gone from being one of the strongest in the country to the weakest as the number of sales drops sharply in comparison to other provinces.
The B.C. Real Estate Association (BCREA) is forecasting a 21 per cent drop in sales in 2018. Meanwhile, the number of sales in July was 24 per cent lower than the previous July, according to Douglas Porter, chief economist and managing director of BMO Financial Group….
“…..Compared to the rest of the country we are noticing that it’s especially weak, which is quite a turnaround from what we’ve seen over much of the past 10 to 15 years,” Porter said. “It’s quite unusual for Vancouver to stick out.”
Read the full article here.
Saturday share
It’s a summer Saturday and that calls for a new thread!
So what are you seeing out there in the high streets and back alleys of this paradise on earth?
Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!
Vancouver BC is “making room”
In a city with outrageous house prices, more than half the land is zoned as ‘single family’ housing. This leaves very little in the range between very high density mini condo towers and expensive family homes.
Many older cities have addressed this issue with mid density housing including row homes, and it looks like Vancouver is ready to follow suit:
More specifically, the proposal instructs planners to “bring forward policies for RS and RT zones that allow triplexes, quadplexes and other multi-unit formsto significantly bring down the purchase cost per unit of housing in low density neighbourhoods.”
It also recommends setting maximum dwelling unit sizes, reducing parking and setback requirements, eliminating design guidelines, and offering density bonuses for projects that provide community benefits. The city has embarked on an 18-month process to develop and adopt the full program.
Read the full article here.