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March 2023 Market Update

 

Bank of Canada holds interest rate steady

The Bank of Canada decided Wednesday to keep its trend-setting interest rate right where it is, at 4.5 per cent.

It's the first time in more than a year that the central bank has decided not to raise its interest rate.

Although it will come as encouraging news to borrowers, the move was widely expected, as the bank signalled at its previous policy meeting and in statements since then that it was leaning toward keeping its rate steady.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Greater Victoria

Gulf Islands

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Okanagan

North Surrey

North Vancouver

Parksville / Qualicum

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Saanich Peninsula

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria Core

Westshore

West Vancouver

Whistler

Spring in Vancouver’s food scene: 13 dining experiences to devour

From Mumbai-inspired street eats to a new tortilleria on the Drive to a sakura-themed afternoon tea, there’s plenty for locals to lap up.

ON THE MENU in Vancouver this spring are all kinds of new dining experiences. Here are a few highlights.

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B.C. Real Estate News

BRITISH COLUMBIA

Here's how much the cost of owning a home in BC has fallen since last year (DailyHive)

New housing starts in B.C. to decline despite record spending (Vancouver Sun)

Canadian commercial real estate investment could reach high of $59 billion in 2023: CBRE (Financial Post)

LOWER MAINLAND

Vancouver leads nation in office completions, lowest vacancy rate (BIV)

Home sales in Vancouver area up 77% from January, but lag behind last year's numbers: real estate board (CBC)

VICTORIA & VANCOUVER ISLAND

Greater Victoria real estate market limps into 2023 (Times Colonist)

 
 

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©2023 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com