Canadian recreational house prices soar 11.5% as remote work drives demand in cottage country

• Canada’s recreational property market forecast to increase 8% in 2021
• 86% of recreational property regions are reporting lower inventory as demand outpaces supply
• 54% of recreational property regions are reporting a significant increase in buyers who are purchasing a new primary residence where ...

CMHC Announces Changes to Mortgage Insurance Underwriting and Acceptance Criteria
Below is an important announcement from CMHC that will affect the buying power of high-ratio buyers and therefore the ability of mid priced sellers.  A high ratio buyer is someone with less than a 20% down payment/under 1 million purchase price.  While this may not be the price of your existing home, or even in t ...

U.K. Braces for Historic Decline in New Home Sales, Driven by COVID-19

Based on new analysis by global property consultancy Knight Frank, Covid-19 and the knock-on impact of the government lockdown, will result in 56,000 fewer homes being delivered this year, representing a 35 percent drop.

In London, new ho ...

The Queen’s Speech re COVID “ We this generation will be judged by how we respond to this situation” 

How should “We this generation” respond to a grave of 30,000. Honestly I am at a loss! I understand that COVID and Genocide are two different things. One was inflicted while we weren’t looking... the other the victims saw coming.

The Bank of Canada today lowered its target for the overnight rate by 50 basis points.


Great news for variable rate holders.  Now we will see if the banks pass along the full drop as in the past they have, on occasion, only passed along part of the drop, thus earning extra profit for themselves.  

The Bank of Canada today lowered its target for the overnight rate by 50 basis points.

The Ba ...

Strata Insurance: Resources and Actions

 

Many strata owners are facing significant increases in insurance rates and deductibles. There are also multiple older buildings across the province struggling to find an insurer to renew their policy.   Potential buyers need to understand the insurance situation of strata units ...

What the 2020 BC Real Estate Assessment Report is Telling You
Click here for the full article

December 2019 Market Insights
REBGV President Ashley Smith provides a summary of the December 2019 housing market statistics.