METRO VANCOUVER MARKET HIGHLIGHTS AGUST 2024
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The Bank of Canada Governor, Tiff Macklem, indicated that it is reasonable to expect further interest rate cuts, following the bank's progress in reducing inflation to its target of 2%. This marks a shift in tone from previous statements, as inflation has consistently declined, with the consumer price index in August falling to its lowest level since February 2021.
Macklem emphasized that future rate cuts will depend on incoming data, as the bank aims to maintain inflation within the 1-3% range. The...
Ngân hàng Canada đã giảm lãi suất xuống 25 điểm cơ bản, đưa 𝐥𝐚̃𝐢 𝐬𝐮𝐚̂́𝐭 𝐱𝐮𝐨̂́𝐧𝐠 𝐜𝐨̀𝐧𝟒,𝟐𝟓%. Tăng trưởng toàn cầu đạt 2,5% trong quý 2, với hiệu suất mạnh hơn dự kiến từ Hoa Kỳ nhưng tăng trưởng yếu hơn ở Trung Quốc. Nền 𝐤𝐢𝐧𝐡 𝐭𝐞̂́ 𝐂𝐚𝐧𝐚𝐝𝐚 𝐭𝐚̆𝐧𝐠 𝐭𝐫𝐮̛𝐨̛̉𝐧𝐠
𝟐,𝟏%, dẫn đầu bởi chi tiêu chính phủ và đầu tư, dù hoạt động kinh tế đã chậm lại vào tháng 6 và tháng 7. 𝐋𝐚̣𝐦 𝐩𝐡𝐚́𝐭 đ𝐚̃ 𝐠𝐢𝐚̉𝐦 𝐱𝐮𝐨̂́𝐧𝐠 𝟐,𝟓%, nhưng chi phí nhà ở cao vẫn là yếu tố chính. Ngân...
Canada's inflation rate dropped to 2.5% in July, down from 2.7% in June, according to Statistics Canada. The decline was driven by lower prices for travel, passenger vehicles, and electricity. Inflation pressures have eased throughout the year, keeping the annual rate below 3% since January. The Bank of Canada has responded to this trend by lowering its key interest rate in recent meetings, with Governor Tiff Macklem indicating that further rate cuts are likely if inflation continues to slow.
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In July, Canada's unemployment rate remained steady at 6.4%, with the economy losing around 2,800 jobs, primarily in wholesale, retail, and finance sectors. Youth unemployment rose to 14.2%, the highest since 2012 (excluding the pandemic), and the unemployment rate for recent immigrants was 12.6%. While the private sector lost 42,000 jobs, the public sector gained 41,000. Economists predict that the Bank of Canada will continue to cut interest rates in the near future.
Trong tháng 7, tỷ lệ thất nghiệp...
London Drugs is relocating within The Amazing Brentwood mall in Burnaby to a new 23,300 sq ft space at the outdoor section of the mall, near Brentwood Plaza. The new store will open in May 2025, replacing its current 29,000 sq ft location in the old indoor mall. This move aligns with the mall's multi-phased redevelopment, which includes demolishing the existing indoor mall to make way for significant residential development, with plans to add up to 4.67 million sq ft of residential space, including...
The Canadian government is supporting young people, such as Millennials and Gen Z, in buying their first homes. Starting August 1, 2024, they will introduce 30-year mortgages for new homes. This gives people more time to pay off their mortgage, making monthly payments lower and more affordable.
This change is part of a broader plan to make homeownership more accessible for all generations. The government is also offering assistance...
Fresh inflation data showing a decline in price pressures has increased the likelihood that the Bank of Canada will implement another interest rate cut next week. Statistics Canada reported an annual inflation rate of 2.7% in June, down from 2.9% in May, with lower gasoline and travel costs contributing to the decrease. This trend, coupled with signs of easing in core inflation, has led many economists to predict further rate cuts as the Bank of Canada aims to continue cooling inflation.
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📞Please contact: 778 668 8728
📍 Serving Vancouver, Burnaby, Surrey, and Greater Vancouver
#VancouverRealtor #BurnabyHomes #FirstTimeHomeBuyers #AIRealEstate #EmilyVuRealtor #emilyvupersonalrealestate #buyeragent #selleragent #HomeBuyingJourney #RealEstateInnovation #sold #interestrate #news
🎉👏👏Emily xin chúc mừng những quý khách đã mua được nhà và đất ở Burnaby trong những năm qua. Trong thời gian vừa qua, nhiều khách hàng đã đầu tư vào Vancouver vì biết nơi đây có tiềm năng xây nhiều căn trong một khu đất. Tuy nhiên, hiện tại Burnaby cũng không kém phần tiềm năng, hứa hẹn mang lại nhiều cơ hội mới cho các nhà đầu tư. 👍🥳
Burnaby sắp sửa cho phép xây dựng lên đến sáu căn nhà trên các lô đất trước đây chỉ dành cho một gia đình, bắt đầu từ 1/7, theo các quy định của tỉnh. Vào 10/6,...
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#VancouverRealtor #BurnabyHomes #FirstTimeHomeBuyers #AIRealEstate #EmilyVuRealtor #emilyvupersonalrealestate #buyeragent #selleragent #HomeBuyingJourney #RealEstateInnovation #sold #interestrate #news
The U.S. Federal Reserve held interest rates steady at 5.3% and projected just one rate cut in 2024 despite recent inflation easing. This forecast is down from a previous expectation of three cuts, as inflation remains higher than desired. The Fed aims to balance slowing inflation without harming economic growth.
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#VancouverRealtor #BurnabyHomes #FirstTimeHomeBuyers #AIRealEstate #EmilyVuRealtor #emilyvuperson...
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...
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%.
The Bank maintains its policy of balance sheet normalization.
Globally, the economy grew by about 3% in the first quarter of 2024, with varying performance across regions.
In Canada, economic growth resumed in the first quarter, albeit slower than forecasted.
Canada saw solid consumption growth and increased business investment and housing activity.
CPI inflation eased further...
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...
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...
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...
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...
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...
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.
Coquitlam experienced the largest year-over-year rent increase in Metro Vancouver.
Metro Vancouver renters are now spending less on rent compared to the same period last year.
Average rent prices in Metro Vancouver are displaying evident...
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.
