Steven Axford's Blog Posts

Victoria Real Estate Market continues to outperform in unpredictable times

October 1, 2020  A total of 989 properties sold in the Victoria Real Estate Board region this September, 60.6 per cent more than the 616 properties sold in September 2019 and 1 per cent more

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Choosing Flooring: 6 Things You Need to Know

When it comes to choosing new flooring for your home or apartment, the options can be overwhelming. Almost every type of flooring has some sort of advantage over other kinds, and taking in all the

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Consumer interest in homeownership in Victoria unwavering over course of pandemic

A total of 989 properties sold in the Victoria Real Estate Board region this September, 60.6 per cent more than the 616 properties sold in September 2019 and 1 per cent more than the previous month

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Understanding Canada’s Record Home Sales Last Month, And Why It’s Likely To Continue

Canada’s late Spring real estate market continues, but some of the pent-up demand has caught up. Canadian Real Estate Association (CREA) data show a new all-time record for August

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Victoria real estate market experiences an active summer

A total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1 per cent more than the 661 properties sold in August 2019 and exactly the same total as the previous month

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Victoria real estate market continues to adapt in the changing times

August 4, 2020  A total of 979 properties sold in the Victoria Real Estate Board region this July, 38.7 per cent more than the 706 properties sold in July 2019 and 21.2 per cent more than the

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Victoria real estate market continues to adapt in the changing times

 A total of 979 properties sold in the Victoria Real Estate Board region this July, 38.7 per cent more than the 706 properties sold in July 2019 and 21.2 per cent more than the previous month

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No clear end to pandemic-related uncertainty in B.C. housing market

VANCOUVER — A new forecast says the housing market in British Columbia remains uncertain during the COVID-19 pandemic.Central 1 says it expects home sales to recover marginally in 2020 and

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Victoria real estate market impacted by many different factors in June

A total of 808 properties sold in the Victoria Real Estate Board region this June, 9.2 per cent more than the 740 properties sold in June 2019 and 76.8 per cent more than the previous month of May

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Why housing is still the best investment for most Canadians

Owning a home remains the largest single investment for most Canadians. So it’s not surprising that fear over an economy turned upside down literally hits home for so many. The Canada

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Victoria real estate activity picks up as restrictions ease

June 1, 2020 A total of 457 properties sold in the Victoria Real Estate Board region this May, 46.1 per cent fewer than the 848 properties sold in May 2019 but 59.2 per cent more than the

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Current State of Housing Markets in Canada

On Monday, the Canadian Real Estate Association (CREA) released its national housing statistics for the month of May—the second full month of the COVID-19 pandemic.  While restrictions

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Canadian home sales rebound by a record 56.9% in May: CREA

TORONTO (Reuters) - Canadian home sales rebounded at a record rate in May, when lockdowns to help contain the coronavirus pandemic eased, after plunging in April, data from the Canadian Real Estate

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For real estate, reopening ‘won’t be a flood but a large trickle of business’

The second phase of the province’s economic restart will look and feel a lot like the first for the real estate market according to the experts.While the province starts getting back to work

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Capital Iron building part of 6.7 acres bought by Reliance; store to keep operating

Reliance Properties, which was behind the transformation of the Janion building on Store Street, has picked up nearly seven acres of downtown Victoria, including the site of the Capital Iron,

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Weekly mortgage applications point to a remarkable recovery in homebuying

If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses.Mortgage applications to purchase a home

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Rent is due: worries about being able to pay

Property managers, landlords and building owners are bracing for bad news today, as the COVID-19 pandemic’s effect on the economy is expected once again to disrupt the property rental market

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As sales decline, some home and condo prices increase

Despite a global pandemic that has decimated economies around the world, Victoria’s real estate market continued to chug along in April, albeit at a much slower pace.Selling prices in some

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Victoria Spring market far from the usual as real estate continues to react to pandemic

A total of 287 properties sold in the Victoria Real Estate Board region this April, 58.8 per cent fewer than the 696 properties sold in April 2019 and 52.8 per cent fewer than the previous month of

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Real estate sales expected to slide, with fewer sales than usual through summer: BCREA

B.C.’s housing market will take an initial a dive due to the coronavirus-driven recession, but it is expected to recover next year, says the industry’s association.Sales throughout B.C.

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Inability to hold public hearings could stall housing developments

Municipal leaders are growing increasingly concerned that affordable-housing projects and other developments could be in jeopardy if local governments are unable to hold public hearings during the

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Victoria real estate spring market will be impacted by COVID-19

A total of 608 properties sold in the Victoria Real Estate Board region this March, five per cent fewer than the 640 properties sold in March 2019 but eight per cent more than the previous month of

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What you need to know about deferring mortgage payments

With more than a million Canadian homeowners trying to defer payments, many with little success, five mortgage brokers offer insight and advice Since the banks announced that homeowners

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Bank of Canada cuts key interest rate to 0.25%

Bank of Canada cuts key interest rate to 0.25%Canada's central bank has also launched a quantitative easing program to bring liquidity to Canadian marketsHayley Woodin / Business in

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Victoria real estate market shakes off the winter

March 2, 2020  A total of 563 properties sold in the Victoria Real Estate Board region this February, 33.7 per cent more than the 421 properties sold in February 2019 and 37 per cent more than

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Morneau unveils new insured mortgage stress test rate

REAL ESTATE Economics3h agoMorneau unveils new insured mortgage stress test rateBNN BloombergThe Close Morneau unveils mortgage stress test changesBNN Bloomberg's Greg Bonnell looks at the new

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Condo gains push Canadian housing starts to a 4-month high

Canadian builders began 2020 with a strong rebound in housing starts that is good news for the nation’s increasingly tight real estate markets.Work began on an annualized 213,224 units in

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Canadian home sales up 11.5% compared with 2019: CREA

Canadian home sales up 11.5% compared with 2019: CREAThe Canadian PressA home for sale in the Point Grey neighborhood of Vancouver, on Friday, June 17, 2016. , Darryl Dyck/BloombergOTTAWA - The

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Victoria real estate market returns to traditional sales numbers, but low inventory persists

 A total of 411 properties sold in the Victoria Real Estate Board region this January, 24.9 per cent more than the 329 properties sold in January 2019 and 2.2 per cent more than in December.

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How global climate change could affect our local real estate markets

With extreme weather events displacing residents and diverting immigrants, temperate cities such as ours could be in much hotter demand in the coming decadesJoannah Connolly / Glacier

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One more blow to cash flow in Vancouver

Investors with their sights set on Vancouver’s recently resurgent market will need to factor a significantly heavier tax burden into their revenue calculations.On January 1, the City of

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Here we go again: Speculation tax forms are in the mail

Starting next week, homeowners in B.C. will receive “declaration” packages and a prompt to claim an exemption from the speculation and vacancy tax.Homeowners in areas where the tax

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Victoria Real Estate Market wraps up a flat year for home sales

January 2, 2020  A total of 402 properties sold in the Victoria Real Estate Board region this December, 7.2 per cent more than the 375 properties sold in December 2018 and a 30.3 per cent

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Greater Victoria home values mostly dip slightly or stay same in latest assessment

Most of Greater Victoria’s 13 municipalities saw the typical assessed value of single-family homes either drop or stay the same as last year, according to information released Thursday by B.C.

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Downtown Victoria CURRENT STATISTICS RSS FEED Victoria Real Estate market remains competitive

December 2, 2019  A total of 577 properties sold in the Victoria Real Estate Board region this November, 15.9 per cent more than the 498 properties sold in November 2018 and a 6.8 per cent

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November real estate sales up 15% vs. last year in Greater Victoria

The number of homes sold in Greater Victoria increased by more than 15 per cent in November compared to the same month a year ago.Last month’s 577 sales marked a 15.9 per cent increase

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Victoria Real Estate market impacted by low inventory, consistent demand

November 1, 2019  A total of 619 properties sold in the Victoria Real Estate Board region this October, 3.5 per cent more than the 598 properties sold in October 2018 and a 0.5 per cent

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Victoria Real Estate Market shows increased

October 1, 2019  A total of 616 properties sold in the Victoria Real Estate Board region this September, 15.6 per cent more than the 533 properties sold in September 2018 but a 6.8 per cent

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Canadian Mortgage Growth

https://www.huffingtonpost.ca/entry/mortgage-debt

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That’s one of the findings in RBC’s annual Home Ownership poll, which revealed 66% of Canadians believe it makes more sense to buy vs. rent.

Majority of Canadians Say It’s Better to Own than RentSTEVE HUEBLAPRIL 8, 2019Share via:13SharesDespite stratospheric prices in the country’s largest housing markets, a majority of

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CMHC looks to raise extra money for housing outside of billions from government

CMHC looks to raise extra money for housing outside of billions from governmentSocial SharingFacebookTwitterRedditLinkedInThe Canadian Press · Posted: Apr 03, 2019 5:34 PM ET | Last

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Impact of ban on realtor dual agency downplayed

Impact of ban on realtor dual agency downplayedNo disciplinary action yet under new realtor rulesFrank O'Brien / Western InvestorAPRIL 3, 2019 12:28 PMPhoto Dan ToulgoetTen months

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Trudeau weighs in on money laundering in B.C. housing market

Trudeau weighs in on money laundering in B.C. housing marketBY TARAN PARMARPosted Mar 25, 2019 1:34 pm PDT Last Updated Mar 25, 2019 at 2:44 pm PDTTrudeau speaks to a couple in Maple Ridge

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Online luxury real estate auctions aim to shake up sales

Online luxury real estate auctions aim to shake up salesAmy Smart, The Canadian PressA room in a house at 39623 Old Yale Road in Abbotsford, B.C. is shown in a handout photo. Courtesy of HO

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Shared equity mortgage not much help for homebuyers in pricey Vancouver, says realtor

Shared equity mortgage not much help for homebuyers in pricey Vancouver, says realtorSocial SharingFacebookTwitterRedditLinkedInRealtor says grant could benefit those looking to buy in suburbsMegan

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Rate cut seen on horizon as Canadian bonds due in more than a decade yield less than cash

Rate cut seen on horizon as Canadian bonds due in more than a decade yield less than cash1.67% is the market telling you the next interest rate move will be downLocal yields have fallen in recent

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First-time homebuyers incentive likely won't help Vancouverites buy detached homes

First-time homebuyers incentive likely won't help Vancouverites buy detached homesBY LASIA KRETZELPosted Mar 20, 2019 11:07 am PDT Last Updated Mar 20, 2019 at 2:22 pm PDTCondominiums in

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Easing mortgage stress test better for first-time buyers: critics

Easing mortgage stress test better for first-time buyers: criticsKatie DeRosa / Times ColonistMARCH 20, 2019 09:39 PMFederal Finance Minister Bill Morneau.Photograph By SEAN

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Majority of B.C. residents support speculation tax, survey finds

Majority of B.C. residents support speculation tax, survey findsMario Canseco / Glacier MediaMARCH 19, 2019 06:00 AMPhotograph By ISTOCKOver the past few weeks, British

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Canadian Real Estate Prices Go Negative For The First Time Since 2009

Canadian Real Estate Prices Go Negative For The First Time Since 2009MARCH 18, 2019Canadian real estate markets are heading into the busy season with negative price growth. Canadian Real Estate

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Time for B-20 mortgage stress tests to 'go away': Mattamy Homes founder

Time for B-20 mortgage stress tests to 'go away': Mattamy Homes founderShane McNeil, BNN Bloomberg Mattamy Homes CEO Peter Gilgan expanding beyond real estateNow Showing6:41Mattamy Homes

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Real estate contributing less to the moderating Canadian economy

Real estate contributing less to the moderating Canadian economyby Ephraim Vecina17 Mar 2019SHAREReal estate and consumer spending are providing less support to the Canadian economy, according

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83-unit rental redevelopment in Fairfield gets green light

83-unit rental redevelopment in Fairfield gets green lightBill Cleverley / Times ColonistMARCH 2, 2019 06:00 AMA rendering of the new apartment building that will replace Beacon Arms

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Greater Victoria real estate sales slide, prices slip as stress test cools market

Greater Victoria real estate sales slide, prices slip as stress test cools marketFebruary’s 421 sales below 10-year averageAndrew Duffy / Times ColonistMARCH 2, 2019 06:00 AM

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Bank of Canada likely won't hike interest rates but next move could go either way

Bank of Canada likely won't hike interest rates but next move could go either wayFILE PHOTO: Bank of Canada Governor Stephen Poloz listens to a question during a news conference in Ottawa, Ontario,

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Victoria real estate market awaits a spring thaw

Victoria real estate market awaits a spring thaw A total of 421 properties sold in the Victoria Real Estate Board region this February, 22.8 per cent fewer than the 545 properties sold in

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Five things the government could do to help Canada's stressed out home buyers

Five things the government could do to help Canada's stressed out home buyersAs policy wonks look to turn the issue in their side's favour in the federal election, here are a few things they could

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B.C. real estate audits reveal widespread tax evasion

B.C. real estate audits reveal widespread tax evasionTaxman recovered over $140 million in nine months last year from B.C. real estate audits; new speculation tax expected to curb tax

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The Latest in Mortgage News – Is the Correction Almost Over?

The Latest in Mortgage News – Is the Correction Almost Over?STEVE HUEBLFEBRUARY 22, 2019Share via:37SharesA number of news items in recent weeks have focused on the state of Canada’s

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Bank of Canada head says interest rates low enough to stimulate economy

Bank of Canada head says interest rates low enough to stimulate economySocial SharingFacebookLinkedInEmailRedditStephen Poloz says upward path for interest rates is 'uncertain'The Canadian Press;

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What B.C. cities can learn from Seattle’s successful housing outcomes

What B.C. cities can learn from Seattle’s successful housing outcomesSeattle’s changes to density zoning, development incentives and consultation processes have resulted in more supply

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B.C. boosts borrowing, undaunted by housing slump

B.C. boosts borrowing, undaunted by housing slumpNatalie Obiko Pearson, Bloomberg News LNG revenues not yet baked into B.C.'s growth, finance minister saysBritish Columbia plans to boost

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Homebuilders seek closer B.C. ties

Homebuilders seek closer B.C. tiesCarla Wilson / Times ColonistFEBRUARY 19, 2019 07:58 PMB.C.’s housing market is moderating and moving in the right direction, says Finance Minister

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Victoria highlights housing investments in advance of budget

Victoria highlights housing investments in advance of budgetBy Peter Mitham | February 19, 2019, 8:42amBudget intentionsThe provincial budget this week will set forth Victoria’s

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Victoria eyes cash option for affordable housing projects

Victoria eyes cash option for affordable housing projectsBill Cleverley / Times ColonistFEBRUARY 15, 2019 07:00 PMThe proposed policy would require all new condo projects to include

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Interest rate hikes don't seem to be hurting Canadian households after all

Interest rate hikes don't seem to be hurting Canadian households after allTelephone poll shows a clear majority continue to say higher borrowing costs are either having no impact, or a positive one,

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City of Victoria asked to join call for money-laundering probe

City of Victoria asked to join call for money-laundering probeBill Cleverley , Katie DeRosa / Times ColonistFEBRUARY 14, 2019 06:00 AMIn a government-commissioned report titled Dirty

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Non-individual ownership incidence highest in B.C. – report

Non-individual ownership incidence highest in B.C. – reportby Ephraim Vecina14 Feb 2019SHAREAmid moderating housing costs, British Columbia was found to be the territory with the highest

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Housing market 'free for all' may be biggest influence in byelection

Housing market 'free for all' may be biggest influence in byelectionSocial SharingFacebookTwitterRedditLinkedInRenters and developers say more incentives are needed for affordable housingCBC News

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Federal Finance Minister keeping a close eye on housing affordability

Federal Finance Minister keeping a close eye on housing affordabilityBill Morneau says getting people into affordable homeownership is top of mind, and that Liberal Party won't compromise stability

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Finance Minister Bill Morneau has close eye on housing, money laundering

Finance Minister Bill Morneau has close eye on housing, money launderingAndrew Duffy / Times ColonistFEBRUARY 8, 2019 10:48 PMFederal Finance Minister Bill Morneau joins Shaw

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Overbuilding, especially condo apartments, is still a problem in Calgary: CMHC

Overbuilding, especially condo apartments, is still a problem in Calgary: CMHCBy Adam ToyDigital content coordinator  770 CHQR162    moreNew condominium units under

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Victoria housing market 13th least affordable in the world, according to report

Victoria housing market 13th least affordable in the world, according to reportPosted By: CHEKon: February 06, 2019In: News, Top StoriesA Demographia International report says

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Greater Victoria real estate continues cooling trend

Greater Victoria real estate continues cooling trendThe number of Greater Victoria real estate sales dropped in January as the market continued to cool.For every month in 2018, sales numbers fell

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Victoria Real Estate Market's cool conditions continue

  Victoria Real Estate Market's cool conditions continue A total of 329 properties sold in the Victoria Real Estate Board region this January, 23.7 per cent fewer than the 431 properties

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Canada's housing crisis and mortgage stress test are officially election issues

Canada's housing crisis and mortgage stress test are officially election issuesDebate was sparked on Thursday by an NDP motion calling on the government to create 500,000 affordable housing

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Victoria Real Estate Market responds as expected to the changing market conditions of 2018 January 02, 2019 A total of 375 properties sold in the Victoria Real Estate Board region this December, 18.8 per cent fewer than the 462 properties sold in Decembe

Victoria Real Estate Market responds as expected to the changing market conditions of 2018January 02, 2019 A total of 375 properties sold in the Victoria Real Estate Board region this December,

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Vancouver Island housing markets world-class in their unaffordability

7°Black Press file photoVancouver Island housing markets world-class in their unaffordabilityVictoria, Nanaimo, Comox Valley among 20 least affordable in survey of Canada, US, UK and moreJOLENE

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Housing affordability eroding; Saanich to boost building costs

Housing affordability eroding; Saanich to boost building costsAndrew Duffy / Times ColonistJANUARY 29, 2019 06:00 AMExcavation continues at Abstract DevelopmentsÍ Fifteen88

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Why we need more pubs: Interest rate levels are in the hands of entrepreneurial dreamers

Why we need more pubs: Interest rate levels are in the hands of entrepreneurial dreamersTen per cent of firms will account for about 70 per cent of investment by companies with fewer than 500

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Financial Expert: Frozen interest Rates Good for Home Buyers

Financial Expert: Frozen interest Rates Good for Home Buyers Category: Local News Published: Friday, 25 January 2019 16:34 Written by Hayley HartEarlier this month it

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Why the government should rethink the mortgage stress test

Why the government should rethink the mortgage stress testHaider-Moranis Bulletin: Mortgage default rates are sensitive to job losses, not interest rate changes —stress tests might not be much

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World's Least Affordable Cities: Rural B.C. Makes The List As Vancouver, Toronto Rise

World's Least Affordable Cities: Rural B.C. Makes The List As Vancouver, Toronto RiseNew Yorkers would struggle to afford house prices in B.C.'s Comox Valley.By Daniel TencerBOOMER JERRITT VIA GETTY

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B.C.'s affordability problems are impelling brain drain

B.C.'s affordability problems are impelling brain drainby Ephraim Vecina22 Jan 2019SHAREBritish Columbia’s best and brightest are packing up and leaving for more affordable housing

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Canadians Using Real Estate For Personal Loans Accelerates For A 5th Month

Canadians Using Real Estate For Personal Loans Accelerates For A 5th MonthJANUARY 22, 2019Canadians took a break from borrowing home equity, but are back in full force. Office of the

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Canada’s economy may soon endure something it hasn’t faced in 68 years, according to BCA

Canada’s economy may soon endure something it hasn’t faced in 68 years, according to BCAA recession without the U.S. in the same boatMore Canadians are going broke because of high

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B.C.'s largest public-sector union wants inquiry into money laundering, drugs

B.C.'s largest public-sector union wants inquiry into money laundering, drugs292292The Canadian Press Published Monday, January 21, 2019 1:16PM PST BURNABY, B.C. - The union representing

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Rising interest rates a big worry to Canadians: survey

Rising interest rates a big worry to Canadians: surveyBY MIKE EPPELPOSTED JAN 21, 2019 7:18 AM EST LAST UPDATED JAN 21, 2019 AT 12:40 PM ESTBUSINESSNATIONALThe Bank of Canada is shown on

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Vancouver now ranked ‘second-least affordable’ global housing market

Vancouver now ranked ‘second-least affordable’ global housing marketSydney moves down to third place in Demographia rankings as Australian home prices drop; Hong Kong remains least

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B.C. VIEWS: Fact-checking the NDP’B.C. VIEWS: Fact-checking the NDP’s speculation tax on empty homess speculation tax on empty homes

B.C. VIEWS: Fact-checking the NDP’s speculation tax on empty homesNegative-option billing is still legal for governmentsTOM FLETCHERJan. 20, 2019 9:00 a.m.COLUMNISTSOPINION   

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Benchmark price for home rises to $840,300 in core

 MENUBenchmark price for home rises to $840,300 in coreCarla Wilson / Times ColonistMARCH 2, 2018 06:00 AMGreater Victoria real estate prices chart.Photograph By :

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Victoria to ask B.C. for authority to levy surtax on empty houses

Victoria to ask B.C. for authority to levy surtax on empty housesBill Cleverley / Times ColonistJANUARY 18, 2019 06:00 AMVictoria councillors have endorsed a motion introduced by.

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Victoria stands tall as one of B.C.'s most valuable markets

Victoria stands tall as one of B.C.'s most valuable marketsby Ephraim Vecina16 Jan 2019SHAREThe latest edition of the Royal LePage House Price Survey reported that during the fourth quarter of

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James on speculation tax: ‘I think a bit of politics is going on’ ahead of Nanaimo byelection

James on speculation tax: ‘I think a bit of politics is going on’ ahead of Nanaimo byelectionKatie DeRosa / Times ColonistJANUARY 17, 2019 06:00 AMFinance Minister Carole:

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B.C. homeowners required to apply if they want exemption from speculation tax

B.C. homeowners required to apply if they want exemption from speculation taxRob Shaw / Vancouver SunJANUARY 16, 2019 02:30 AMFinance Minister Carole James with Premier John Horgan

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Decades of downtown Victoria's heritage preservation 'under threat' due to ongoing development, advocates say

Decades of downtown Victoria's heritage preservation 'under threat' due to ongoing development, advocates sayFacebookTwitterRedditLinkedInCitizen group worries development could come at the cost of

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Canadian home prices fall for third month in a row, even in Vancouver

Canadian home prices fall for third month in a row, even in Vancouver'The recent trend of home prices is clearly downward in most metropolitan markets'ReutersJanuary 14, 201910:12 AM ESTFiled

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High housing costs pushing young professionals out of Vancouver

High housing costs pushing young professionals out of Vancouver Housing crisis hits health care system CTV News has learned 10 nurses have resigned at one Vancouver hospital due to housing

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BCNREB releases 2018 year-end real estate results

BCNREB releases 2018 year-end real estate results SCOTT BROOKSJANUARY 11, 2019 3:16 PMFORT ST. JOHN, B.C. – The B.C. Northern Real Estate Board has released its year-end real estate

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How did Vancouver real estate holdings compare to other investments in 2018?

How did Vancouver real estate holdings compare to other investments in 2018?Jan 10, 2019    ShareTweetShareSharePinCredit: rawpixel/UnsplashNew study compares three different

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Victoria aggregate house price climbs 8.4 per cent in fourth quarter of 2018, Royal LePage survey

Victoria aggregate house price climbs 8.4 per cent in fourth quarter of 2018, Royal LePage surveyPosted By: CHEKon: January 11, 2019In: News, Top StoriesThe Royal LePage fourth

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Thirty-one storey office tower proposed for downtown Vancouver

Thirty-one storey office tower proposed for downtown VancouverApplication filed for architecturally striking building to replace 15-storey tower in Coal Harbour financial districtNaoibh O&rsquo

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Rising multi-family assessments could trigger higher rents across B.C.

Rising multi-family assessments could trigger higher rents across B.C.Landlord group says increased property taxes will force apartment building owners to raise rents or spend less on building

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Bank of Canada maintains overnight rate target at 1 ¾ per cent

Bank of Canada maintains overnight rate target at 1 ¾ per centThe Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is

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A Victoria homeowner is gearing up for a fight with B.C.

Victoria homeowners appealing ‘surreal’ property assessmentsAndrew Duffy / Times ColonistJANUARY 8, 2019 07:30 AM   B.C. homeowners have until Jan. 31 to

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The 5 most valuable properties in the Vancouver Island region

The 5 most valuable properties in the Vancouver Island regionFaceboTwitterRedditLinkedInB.C. Assessment says Vancouver Island was a hot spot for increasing residential values last yearCBC News 

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Cost Of Renting In Toronto Expected To Go Up 11 Per Cent This Year

Cost Of Renting In Toronto Expected To Go Up 11 Per Cent This Yearby Toronto StoreysPhoto by Zia Syed on UnsplashAs if it wasn’t already the most expensive rental market in the

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Opinion: Land Value Capture idea gaining traction as housing affordability crisis continues

Opinion: Land Value Capture idea gaining traction as housing affordability crisis continuesProposed tax would target landowners making a windfall when land values skyrocket due to rezoning or new

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Capital Economics has just released an updated forecast, in anticipation of the first Bank of Canada policy meeting next week.

Capital Economics has just released an updated forecast, in anticipation of the first Bank of Canada policy meeting next week.TL;DR: In direct opposition to what other analysts are saying,

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Elk Valley shelter gets a makeover

Elk Valley shelter gets a makeoverElk Valley Safe Homes seeks funding for 24-hour in-house staffing at newly renovated shelterKIMBERLEY VLASICJan. 5, 2019 9:30 a.m.LOCAL NEWSNEWS   

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Housing affordability to worsen in 2019 even as market cools, says RBC

Housing affordability to worsen in 2019 even as market cools, says RBCFacebookLinkedInEmailRedditIn Toronto, the cost of owning a home is 79% of median household income, in Vancouver, it's 88

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Crash? Recovery? 4 Things That Will (And Won’t) Happen In Canada’s Housing Market In 2019

Crash? Recovery? 4 Things That Will (And Won’t) Happen In Canada’s Housing Market In 2019Some homeowners will bust out, but the market as a whole probably won't.By Daniel TencerNURPHOTO

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Housing and transportation top of mind in B.C. as new year dawns

Housing and transportation top of mind in B.C. as new year dawnsBy Mario Canseco | December 31, 2018, 4:00am ShutterstockConversations related to public policy in British Columbia

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2019 real estate market outlook: a forecast summary

2019 real estate market outlook: a forecast summaryWhat do housing pundits predict will happen to the B.C. housing market over the next year?Joannah Connolly  / Glacier Media

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Looking to rent a three-bedroom unit in Coquitlam? Good luck

Looking to rent a three-bedroom unit in Coquitlam? Good luckVacancy rate at 0 for three-bedroom units and bachelor suitesGary McKenna  / Tri-City NewsDECEMBER 27, 2018 03:54 PM  

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Canadian Real Estate Affordability Is At Crisis Levels, But Falling Prices Will Help

RBC: Canadian Real Estate Affordability Is At Crisis Levels, But Falling Prices Will HelpDECEMBER 28, 2018Canada’s largest bank believes real estate affordability will continue to deteriorate.

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B.C. government works for a robust, sustainable economy

B.C. government works for a robust, sustainable economyBy John Horgan | December 27, 2018British Columbia is unique in the world. Our province is filled with unmatched natural beauty and

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Catherine Holt: Non-market housing is essential

Catherine Holt: Non-market housing is essentialCatherine Holt / Greater Victoria Chamber of CommerceDECEMBER 26, 2018 12:13 AM   I read in the Times Colonist that home

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BC Housing eyes Jan. 3 to start work on Sechelt project

BC Housing eyes Jan. 3 to start work on Sechelt projectSean Eckford / Coast ReporterDECEMBER 24, 2018 11:32 AM   Architect Peter Treuheit’s rendering of the

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Government policy and interest rates put pressure on sales

Government policy and interest rates put pressure on salesMYKE THOMASUpdated: December 22, 2018SHAREADJUSTCOMMENTPRINTThe B-20 stress test tightened its grip on housing markets across

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Canadian Real Estate Sales Drop Over 12%, Vancouver’s Decline Is Almost 3x Larger

Canadian Real Estate Sales Drop Over 12%, Vancouver’s Decline Is Almost 3x LargerDECEMBER 17, 2018Canadian real estate sales are still dropping. Canadian Real Estate Association )

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The Canadian Real Estate Industry Lowers 2019 Sales Forecast For A Third Time

The Canadian Real Estate Industry Lowers 2019 Sales Forecast For A Third TimeDECEMBER 19, 2018Third time’s a charm… maybe. The latest Canadian Real Estate Association (CREA)

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The Rich and Well-Connected Sway Vancouver Council on School Tax

The Rich and Well-Connected Sway Vancouver Council on School TaxAttempt to avoid tax on multi-million-dollar homes ‘disgraceful,’ says UBC prof.By Geoff Dembicki Yesterday;|

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Higher interest rates pushing more Canadians to seek debt relief as business booms for insolvency trustees

Higher interest rates pushing more Canadians to seek debt relief as business booms for insolvency trusteesRecord debt burdens, rising borrowing costs and, in some cases, bigger payday loans are

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‘Mild recession’ in housing market to continue in B.C. in 2019: report

‘Mild recession’ in housing market to continue in B.C. in 2019: reportCarla Wilson  / Times ColonistDECEMBER 18, 2018 07:26 PM   Construction proceeds

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Pace of Bank of Canada rate hikes could be interrupted, Stephen Poloz says

Pace of Bank of Canada rate hikes could be interrupted, Stephen Poloz saysLatest sign that central bank may put the brakes on increasesBank of Canada Governor Stephen Poloz’s comments on rates

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Average rent in Canada to rise 6 to 11 per cent

Average rent in Canada to rise 6 to 11 per cent Tuesday, December 18, 2018 A new report released by Rentals.ca predicts that average rent in Canada will increase 6 per cent in 2019.

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The Lower Mainland’s top five priciest home sales of the year

The Lower Mainland’s top five priciest home sales of the yearCurious about the fanciest homes that sold on the region’s MLS in 2018 – and for how much less than asking? Here&rsquo

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Bank of Canada expands balance sheet list to mortgage bonds

Bank of Canada expands balance sheet list to mortgage bondsTheophilos Argitis and Esteban Duarte, Bloomberg NewsThe Bank of Canada stands in Ottawa, Ontario, Canada, on Thursday, Aug. 16, 2018.

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'Subdued' housing market predicted in B.C. through 2021: Central 1 Credit Union

'Subdued' housing market predicted in B.C. through 2021: Central 1 Credit Union  The Real Estate Council of British Columbia Thursday announced the launch of an anonymous tipline “to

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Modest home price growth expected for 2019: ReMax, Royal LePage

Modest home price growth expected for 2019: Re/Max, Royal LePageLinda Nguyen, The Canadian PressA "For Sale" sign is displayed outside a home in the Outremont borough of Montreal, Quebec,,

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Total number of new mortgages slumped in Q2: CMHC

Total number of new mortgages slumped in Q2: CMHCThe Canadian PressA real estate sold sign hangs in front of a west-end Toronto property Friday, Nov. 4, 2016. , THE CANADIAN PRESS/Graeme--

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B.C.’s average home sale price will edge up in 2019: forecast

B.C.’s average home sale price will edge up in 2019: forecastProvince will drive national decline in total residential sales next year, but prices will rise slightly, asserts Canadian Real

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Vancouver’s Household Debt Is A Whopping 86% Residential Real Estate

Vancouver’s Household Debt Is A Whopping 86% Residential Real EstateDECEMBER 14, 2018Congrats, Vancouver! You’re Canada’s most indebted city, largely due to the recent rapid rise

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Toronto, Vancouver most 'vulnerable' to interest rate hikes: CMHC

Toronto, Vancouver most 'vulnerable' to interest rate hikes: CMHCFacebookTwitterRedditLinkedInEmailCanada Mortgage and Housing Corporation says personal debt levels in biggest cities are at record

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37% of Metro Vancouverites think real estate market is 'extremely corrupt': report

37% of Metro Vancouverites think real estate market is 'extremely corrupt': reportFacebookTwitterRedditLinkedInFindings in Transparency International Canada's 1st report on perception of domestic

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Stop ‘renovictions,’ B.C. housing task force says

Stop ‘renovictions,’ B.C. housing task force saysMLAs call for end to strata bans on renting vacant suitesTOM FLETCHERDec. 12, 2018 12:15 p.m.NEWSRules for evictions to renovate a rental

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No increase in 2019 for new fixed-rate mortgages: BCREA forecast

No increase in 2019 for new fixed-rate mortgages: BCREA forecastWith a recent decline in bond yields, lenders have pushed interest rates as high as they will go for a year, predicts

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Home assessments rising 5% to 10% in Greater Victoria

Home assessments rising 5% to 10% in Greater VictoriaCarla Wilson  / Times ColonistDECEMBER 7, 2018 06:00 AM   Greater Victoria residential property owners

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Consumer Insolvency Filings Spike In Canada, And It's Likely Just The Beginning

Consumer Insolvency Filings Spike In Canada, And It's Likely Just The BeginningBritish Columbia and P.E.I. led the way with jumps of roughly 20 per cent in insolvencies.By Daniel TencerPESHKOVA VIA

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Canadian Mortgage Rates Aren’t Headed Higher After All

Canadian Mortgage Rates Aren’t Headed Higher After AllBy David Larock54Just like that, all of the dire warnings about rapidly rising Canadian mortgage rates disappeared faster than

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Condominium market still 'a lot better' than normal in Vancouver suburbs

Condominium market still 'a lot better' than normal in Vancouver suburbs   The Landing condo development is seen under construction in Langley, B.C., on Monday

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Developer buys swath of Blanshard Street block

Developer buys swath of Blanshard Street blockMerchant House has no immediate plans for changes Within the yellow outline are the Monk Office supply building, on the left, and the Montrose

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Affordable housing fuels construction in Greater Victoria

Affordable housing fuels construction in Greater Victoria A sign at the The James rental development at Harbour Towers goes up on Monday. Strong demand for affordable housing is

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More than half of all short-term rentals in Vancouver now licensed

More than half of all short-term rentals in Vancouver now licensedAs of Nov. 30 there were more than 4,500 active short-term rental listings in the city   Since enforcement of

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Court order questions how Cordova Bay project OK’d by Saanich

Court order questions how Cordova Bay project OK’d by SaanichCindy E. Harnett  / Times ColonistDECEMBER 9, 2018 06:00 AM   Artist’s rendering of

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No major home price drops for Metro Vancouver and B.C. next year: forecasts

No major home price drops for Metro Vancouver and B.C. next year: forecastsTwo separate brokerage surveys predict home values will stay virtually flat or decrease only slightly  

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2019 Property Assessments Will Reflect BC's Shifting Housing Markets

2019 Property Assessments Will Reflect BC's Shifting Housing Markets  VICTORIA, Dec. 6, 2018 /CNW/ - After years of dramatic increases in British Columbia's annual

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