Tag Archives: point grey

BC, Open Topic, supply, west side

Historic accord splits control of properties

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They’re not making any more land, but we still seem to be finding some to build on.

The 21 hectare Jericho lands in Point Grey is part of an agreement to split control of three Vancouver properties between a crown corporation and three First Nations – the Musqueam, Squamish and Tsleil-Waututh Nation.

David Eby, MLA for Vancouver-Point Grey, said he was heartened to learn that a deal had been made regarding the Jericho Lands.

“There had been a lot of people in the community, myself included, that believed this land would be tied up in negotiations – potentially in court – for many years,” he said. “There’s a very clear and well-established traditional use of this land by First Nations. They were certainly entitled to it and it sounds like they received a fair share of their lands. It was certainly a surprise to hear that it has happened at all, let alone so quickly.”

Mr. Eby said the significance for the community he represents is that development will proceed faster than many anticipated.

“I would not be understating it to say that many members of the community that are neighbours to this property are incredibly concerned about the type of development that could potentially be located at this site,” he said.

“I can tell you everybody from affordable housing advocates to environmental groups … to the West Point Grey Homeowners’ Association has weighed in with different perspectives about what should happen here. That consultation will be challenging, but it’s critically important that it happen.”

Read the full article here.

 

BC, data, Europe, hype, opinion, prices, supply, west side

Ridiculous prices welcome ridiculous comparisons

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75 Comments

Did you know you could buy nine mansions in France for the price of one boarded up Vancouver tear down?

Of course you might have to live in closer proximity to fresh baked croissants if you choose the French route, but at least one of them comes with 400 acres of land which should give you some buffer if you find that scent offensive.

PriceyPads ran this comparison and includes some beautiful pictures in their post.

Of course this is Vancouver so that’s an ‘asking price’, which may or may not bear some some relation to reality.

Just like craigslist rents, sometimes we get carried away with our asking prices.

You might remember the story of the extremely expensive listing in West Van with pictures of an imaginary house in the listing.

The asking price on that one was just south of $38 million.  That was the asking price.  The selling price was a bit less, well nearly $30 million less actually.

BC, debt, hype, prices, supply, west side

West Side housing boom loses its sizzle

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The Globe and Mail has a suprising headline: Sky-high housing prices in Vancouvers west side short lived.

Both sales and prices are down at the top end even more markedly than in the rest of the region, which has also seen a general slowdown this spring.

A house on the 3000 block of West 24th Anenue, first listed at near $4.5-million six months ago, sold on April 15 for $3.35-million.

Fresh statistics from the Greater Vancouver Real Estate Board show the number of sales on the west side is down by nearly 40 per cent for the first four months of the year. Only a third of the nearly 400 homes listed in April have sold – one of the lowest rates in the region.

Realtors say the slowdown appears to have resulted from a combination of tighter lending practices by local banks, which now want proof of income to service large mortgages, more restrictions on how much capital can be taken out of China, and fewer immigrants.

“Banks are now requiring borrowers to disclose incomes and assets before mortgages are approved, as of the last six weeks,” said west-side realtor Marty Pospischil, who specializes in selling single-family homes owned by long-term residents. Last year, he says 90 per cent of his 100 house sales were to “offshore buyers” – people not living here yet, who flew in to buy. This year, it’s less than a tenth of that. “We’re now seeing a 50-per-cent collapse rate in deals, when it’s usually more like 5 per cent,” he said.

Read the full article here.