Bill Noy White Rock South Surrey Realtor
Price drop continues for detached homes
Prices of Greater Vancouver homes wil drop by 8.7 per cent next year. Cameron Muir, chief economist for the B.C. Real Estate Association (BCREA), said: “Home sales in Vancouver peaked in February this year and theyÝve declined ever since, thatÝs been exacerbated by some of these policy measures, particularly the foreign buyer tax.” It would be easy to say that the slowdown was a result of the 15% Foreign Buyers Tax but it's just not that simple. according to Canada Mortgage and Housing Corp. President Evan Siddall.
Prices by Housing Type

Prices by neighbourhood

Townhomes by neighbourhood

Apartments by neighbourhood

Sales-to-Active Ratio

List Price to Sale Price Ratio

Detached home prices have fallen over the last few months however Apartments and townhomes have remained steady and have even risen in some areas.

What are they? A Depreciation Report is a business plan that factors in when common assets such as roofs and elevators will need to be repaired, renewed or replaced. The idea behind depreciation reports is to budget for inevitable expenses so that strata owners are not ýblindsidedţ by Special Levies.
What is means to you No depreciation report creates uncertainty for buyers and may effect their ability to get financing.
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Economic Forecasts

Facts and figures from the Brtish Columbia Real Estate Associatiion
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