Updates

CANADIAN REAL ESTATE ASSOCIATION LOWERS THEIR 2018 SALES FORECAST The Canadian Real Estate Association (CREA) has revisited their sales forecasts for both 2018 and 2019. After seeing the market’s results as we cross the halfway point of 2018, CREA now believes sales will fall even further than previously expected with BC showing the greatest impact. Sales…

B.C. TO REVEAL REAL ESTATE’S HIDDEN OWNERS B.C.’s government is planning to reveal individuals behind property-owning shell companies and trusts through a publicly accessible registry in an effort to prevent money laundering through real estate purchases and ensure taxes are being paid correctly. The NDP government, who had set their 30-point housing plan in motion…

A PRICE CORRECTION ON ITS WAY The Real Estate Board of Greater Vancouver released its data reports as May 2018 comes to a close. The significant decrease in single-family home sales as compared to May 2017 has many suggesting that the market is on the verge of a price correction. Phil Moore, president of the…

MAYOR FROESE ENGAGES BROOKSWOOD For our 2018 Varing Magazine, we met with mayor of Township of Langley, Jack Froese, to hear his opinions on the process and outcome of the Brookswood/Fernridge plan update. Community. It’s the area you live in. It’s the people you see every day. It’s the place you call home. Mayor Jack…

2017 2017 was another record-breaking year in terms of sales volume, as well as price. After the Foreign Buyers Tax, implemented in August 2016, caused only short-term relief, investors and home buyers continued their buying spree through the first half of 2017. With the Canadian Economy growing at a torrid pace, the Bank of Canada…

After an amazing reception of our last magazine, there was some anticipation and inquiries as to when this year’s issue was going to be released. Well…it’s here and we couldn’t be more proud of the result! We had the pleasure of working with some key players in the world of Fraser Valley land development to…

After a long period of uncertainty surrounding the policies of the newly appointed NDP Provincial Government, the 2018 budget has finally been released. Here are what we believe to be the most significant changes pertaining to real estate. #1:  TAXING SPECULATORS WHO ARE DRIVING UP HOUSING COSTS People, including many non-residents, are speculating in B.C.’s housing…

After reviewing economic data and the effects of last year’s interest rate hikes, The Bank of Canada has decided to raise its key interest rate to 1.25% as of Wednesday, January 17th. Up a quarter of a percentage point from 1%, this hike is now the highest the rate has been since 2009. Many were…

We spoke to Don Luymes from the city planning department of Surrey to get an insider’s insight into the goals for the city’s future. IN GENERAL, WHAT DOES THE JOB OF A CITY PLANNER ENTAIL? City planners in Surrey provide the best advice possible to City Council on all aspects of community planning and development…

BROOKSWOOD APPROVES NEW COMMUNITY PLAN As of October 23rd, 2017, Council has adopted the revised Brookswood-Fernridge Community Plan after it passed 3rd reading. The residents have been heavily involved in the creation/reviewing process since the Council initiated the planning process in 2016. With a finalized community plan in place, more certainty is created for developers…