Emily Vu, Personal Real Estate Corporation

Sustainable Happiness, Sustainable Return

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More young Canadians want homes and pets over weddings and kids, survey says

61% of Gen Z respondents would choose pets over children

A new report highlights
How younger Canadians are prioritizing homeownership and pets over weddings and children due to the high cost of living. While homeownership is a primary goal for 73% of Gen Z Canadians, 61% are unsure if they can afford it. In contrast, 42% see marriage as an important goal, with 41% deeming it necessary.

The cost to raise a child in Canada is approximately $293,000 from birth to age 17, while owning a dog can cost up...

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The Bank of Canada reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.
  1. The Bank of Canada reduced its target for the overnight rate to 4,75%, with the Bank Rate at 5% and the deposit rate at 4,75%.

  2. The Bank maintains its policy of balance sheet normalization.

  3. Globally, the economy grew by about 3% in the first quarter of 2024, with varying performance across regions.

  4. In Canada, economic growth resumed in the first quarter, albeit slower than forecasted.

  5. Canada saw solid consumption growth and increased business investment and housing activity.

  6. CPI inflation eased further...

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May 2024 real estate market in Metro Vancouver, specifically noting a 19.9% decrease in transactions.

In May 2024, the Metro Vancouver real estate market experienced a decline in the number of transactions compared to typical seasonal patterns. Greater Vancouver REALTORS® reported a total of 2,733 residential sales, marking a 19.9% decrease from May 2023 and a 19.6% decrease from the 10-year average for May. Factors influencing this trend include higher borrowing costs, economic concerns, and government policy interventions. Despite a 12.6% increase in new property listings compared to May 2023, the...

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Inflation cooled to 2.7% in April as food price growth slowed

Canada's consumer price index fell to 2.7% in April from 2.9% in March, driven by slower food price growth, according to Statistics Canada. Food prices still increased but at a reduced rate of 1.4% in April compared to 1.9% in March. The cost of meat was the primary factor in this decline, along with non-alcoholic beverages, bakery and cereal products, fruits and nuts, and seafood.

In April, Canada unexpectedly added 90,000 jobs, though unemployment remained steady at 6.1%. The Bank of Canada maintained...

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The Greater Vancouver real estate board reported April 2024
The Greater Vancouver real estate board reported a 3.3% rise in home sales compared to the previous year, with 2,831 homes sold in April, up from 2,741 in April 2023.

The number of homes listed for sale in Metro Vancouver rose by 42.1% year-over-year to reach 12,491 properties, marking a 16.7% increase compared to the 10-year seasonal average.

The composite benchmark home price stood at $1,205,800, reflecting a 2.8% increase from the previous year.

New listings saw a significant 64.7% increase, with...
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B.C. government targets ‘profiteers’ with legislation to bring in 20% flipping tax

Ngày 3 tháng 4 năm 2024, Bộ trưởng Tài chính Katrine Conroy đã đưa ra dự luật để thực thi Thuế Mua bán Nhà BC mới (HFT), nhằm vào việc mua bán nhà và đầu cơ ngắn hạn để giải quyết vấn đề về giá cả và cung cấp nhà ở. Tính từ ngày 1 tháng 1 năm 2025, những căn nhà được bán trong vòng một năm sau khi mua sẽ chịu mức thuế 20% trên lợi nhuận, và mức thuế này sẽ dần giảm về 0% sau hai năm. Bà Conroy ước tính rằng HFT sẽ áp dụng cho khoảng 4.000 giao dịch mua bán nhà hàng năm, dự kiến ​​sẽ thu được 43 triệu...

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Canada's inflation rate slowed to 2.8% in February, beating expectations for 2nd month in a row
  • In February, Canada's annual inflation rate decreased to 2.8%, contrary to economists' expectations of a rise to 3.1%. This decline was influenced by lower cellular services, groceries, and internet access costs. Rent and mortgage interest remained significant factors driving inflation. Gas prices rebounded slightly after a decline in January. New cell phone plans were notably cheaper than the previous year, contributing to lower inflation. The Bank of Canada's preferred measure of core inflation...
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March 2024 Metro Vancouver Rent Report


In March, Metro Vancouver's average rent prices have shown a decline after experiencing two consecutive month-to-month increases. According to the latest report from Liv.rent, the cost to rent a one-bedroom, unfurnished unit has decreased by $42 to $2,337 this March.


  1. Coquitlam experienced the largest year-over-year rent increase in Metro Vancouver.
  2. Metro Vancouver renters are now spending less on rent compared to the same period last year.
  3. Average rent prices in Metro Vancouver are displaying evident...
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𝐈𝐧 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲, 𝐭𝐡𝐞 𝐫𝐞𝐚𝐥 𝐞𝐬𝐭𝐚𝐭𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐌𝐞𝐭𝐫𝐨 𝐕𝐚𝐧𝐜𝐨𝐮𝐯𝐞𝐫


✅New MLS listings surged by 31% year-over-year, fostering optimism for an active spring market.
✅The total number of properties for sale increased by 16.3%, reaching 9,634—slightly exceeding the 10-year average.
✅February sales saw a 13.5% uptick, although remaining below the 10-year seasonal average.
✅The benchmark price for all residential properties in Vancouver showed a significant 4.5% increase, reaching $1,183,300.
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✅ Số lượng bài đăng mới trên MLS tăng 31% so với...

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News for First-Time Home Buyers!
News for First-Time Home Buyers!

Fair Market Value Threshold for First-Time Home Buyer (FTHB) Exemption:
Starting April 1st, 2024, the FTHB exemption is getting a revamp. For properties with a Fair Market Value (FMV) below $835,000, you won't pay Property Transfer Tax (PTT) on the first $500,000. PTT will be applicable only on the difference between the FMV and $500,000. For instance, if the property's FMV is $700,000, the PTT paid would be 2% of $200,000 ($700,000 minus $500,000), resulting in a s...
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NEWS-AIRBNB
NEWS-AIRBNB
Vancouver City Councillor Lenny Zhou has criticized Airbnb for not doing enough to enforce city rules on short-term rentals, citing over 100 non-compliant listings still active on the platform.
Zhou emphasized the importance of balancing housing needs during the ongoing housing crisis. While acknowledging the city's inability to directly remove such listings, Zhou suggested that upcoming provincial regulations in British Columbia would requireshort-term rental platforms to take action....
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As an actively engaged Realtor attending property showings and client meetings daily, I've noticed significant transformations in the real estate landscape, and I'm eager to share my observations with you.  In the past month, the real estate scene has und
As an actively engaged Realtor attending property showings and client meetings daily, I've noticed significant transformations in the real estate landscape, and I'm eager to share my observations with you.
In the past month, the real estate scene has undergone dramatic changes. Properties that lingered on the market for over 100 days are suddenly in high demand.
Describing the current market dynamics is challenging. While some homes are attracting multiple offers, others provide buyers with opportunities...
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BCREA forecasts a rebound in the BC housing market for the first quarter of 2024.
  • Projected MLS® residential sales are expected to increase by 7.8% to 78,775 units in 2024.
  • Further strengthening is anticipated in 2025, reaching 86,475 units.
  • The recent decline in fixed mortgage rates and potential Bank of Canada rate cuts contribute to an optimistic outlook for 2024.
  • Chief Economist Brendon Ogmundson foresees a delicate balance between rising sales and normalizing inventories, resulting in a relatively quiet year for prices.
  • Expectation that the Bank of Canada will lower its...
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Canada’s international student cap is here. How will it work?

The Canadian government, led by Immigration Minister Marc Miller, has implemented a national cap on international student intake, aiming to reduce it by 35% over the next two years. Miller stated that these measures are temporary and will be in place for two years to maintain a sustainable level of temporary residence in Canada. The national application intake cap for 2024 is expected to result in approximately 364,000 approved study permits, a 35% decrease from 2023.

The cap will not apply to gr...

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Gasoline prices help drive inflation up to 3.4%
On January 16, 2024, Statistics Canada reported that Canada's annual inflation rate surged to 3.4 percent in December. This follows a period of stability in October and November, where inflation remained at 3.1 percent compared to the previous year. According to StatsCan, the increase in December was primarily driven by higher prices in gasoline, air travel, passenger vehicles, and rent.
Additionally, food prices at stores experienced a 4.7 percent increase compared to the previous year, aligning...
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Housing market faces 'turning point' with Bank of Canada rate cuts this year

The economic landscape has been shaped by caution and shifting expectations throughout the past year, largely influenced by the impact of rising borrowing costs. Economists are now eyeing the Canadian housing market, anticipating potential changes in 2024.

The key focus is on the belief that the Canadian housing market could be in for a rebound. This outlook hinges significantly on forecasts suggesting that the Bank of Canada might initiate a reduction in its key interest rate, currently standing...

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Feng Shui-Inspired Home Staging Tips

Feng Shui-Inspired Home Staging Tips

When you’re selling your home, you want to make it as attractive as possible to buyers. One compelling strategy that has been gaining traction is the application of Feng Shui principles to home staging.

How?

Embracing Feng Shui staging techniques starts with decluttering. Clutter restricts the free flow of 'chi' or positive energy. Hence, a clean, clutter-free space is crucial. It promotes an open, spacious feel, which in turn evokes a sense of tranquillity...

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Autumn Landscaping Tips when Selling your Home

Landscaping may not be the first thing that comes to mind when selling your home in autumn. However, the outside of your home is still the first thing buyers see, so it’s worth exploring ways to update your landscaping to create a cozy and welcoming feel. Here are just a few ideas:

1. Add potted plants: Potted plants are an easy way to make your outdoors more attractive, especially along walkways and around your front door. And, because they’re potted, they can quickly be removed should...

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BANK OF CANADA - SEPTEMBER 6
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.
  • Inflation in advanced economies is decreasing, but core inflation remains high, so central banks are focused on price stability.
  • Global growth slowed in Q2 2023, mainly due to a slowdown in China. Weakness in China's property sector has lowered growth prospects.
  • The U.S. saw stronger-than-expected growth,...
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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.