Jag_Bhangav_83_avatar

Jag Bhangav

(604) 838-2545|jag@jaggroup.ca
http://www.macrealtymarketupdate.com/jag_bhangav
westmar logo

Web Lite SWeTE: Simple Website Translation Engine

August 2019 Market Update

 

CHMC sees 'moderate overvaluation' in Canada's housing market, but little vulnerability overall

After waving a red flag of warning about Canada's housing market for more than two years, Canada's national housing agency says the overall level of vulnerability has inched down from high to moderate over the past six months.

That's one of the main takeaways of a quarterly report from the Canada Mortgage and Housing Corporation on Thursday, in which the housing agency looks at some of Canada's biggest housing markets and assesses their risk level based on four factors:

  • Overheating: when the number of home sales significantly outpaces the number of new listings.
  • Price acceleration: when prices rise quickly, which can be a sign of speculative activity.
  • Overvaluation: when prices are higher than incomes, mortgage rates and local rents can justify.
  • Overbuilding: when there is a higher-than-normal vacancy rate for rentals, or a higher-than-normal amount of new buildings that have yet to sell.

READ MORE

 

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.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

Hong Kongers are looking to buy properties in Toronto and Vancouver as protests rage

As protests continue to rock Hong Kong, real estate brokers in Canada and the U.K. are fielding a flood of inquiries from investors in the former British colony who are eager to get out.

Dan Scarrow, president of Macdonald Real Estate Group in Vancouver, said many of his Chinese agents saw an uptick in interest for both sales and rentals this month from Hong Kong.

READ MORE

 
 

B.C. Real Estate News

LOWER MAINLAND

Greater Vancouver home sales jump in July, but prices continue steady slide (Global News)

'A sea change' in Burnaby's direction on housing (Vancouver Sun)

Higher density coming across street from Delta (The Optimist)

WHISTLER

Whistler housing policy continues to evolve (Pique)

VICTORIA & VANCOUVER ISLAND

Vast majority of Island home buyers are local, survey of agents finds (Times Colonist)

Developers clamour for piece of Vancouver Island (Times Colonist)

Townhouses on the rise in popularity in Greater Victoria (Peninsula News Review)

INFOGRAPHIC Which Vancouver Island neighbourhoods are still seller's markets? (Times Colonist)

OKANAGAN

South Okanagan real estate market continues to stabilize, millennials eager to become homeowners (Summerland Review)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2019 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com