HTML Source EditorWord Wrap

No "doom and gloom" in store for Canadian real estate – Royal LePage’s Soper

by Ephraim Vecina29 Jul 2020


Sustained market strength, subject to supply constraints, will be the predominant dynamic in the Canadian housing sector for the rest of the year, according to Royal LePage CEO Phil Soper and Sotheby’s Canada CEO Don Kottick.


In a joint interview with The Financial Post, the two executives highlighted the major role that housing inventory will play in the period immediately after the COVID-19 pandemic eases.

Soper said that home prices largely rely on the balance between supply and buyer activity.

“There are a lot of people who are looking to put roofs over their heads,” Soper said. “We just don’t see the number of homes for sale, the supply side of this, climbing to the point where home prices will collapse.”

Royal LePage’s latest predictions have placed annual growth by year-end at 2.5%.


https://www.canadianrealestatemagazine.ca/news/no-doom-and-gloom-in-store-for-canadian-real-estate--royal-lepages-soper-331927.aspx

MORTGAGE RATE FORECAST......BCREA


As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its usual upward sloping shape, with markets expecting gradual rate increases by the Bank of Canada. Based partly on those expectations, Canadian mortgage rates were climbing. However, within 8 months the yield curve in Canada had inverted, bond yields tumbled, and Canadian mortgage rates were once again heading lower.


https://www.bcrea.bc.ca/economics/mortgage-rate-forecast/


__________________________________________________________________________________________________________

New Zealand’s new Prime Minister-elect, Jacinda Ardern, has wasted no time in addressing that country’s soaring property prices.

Ardern – who seems to be taking over from Justin Trudeau as the global media’s latest, youngest, hippest nation leader du jour – announced October 24 that non-resident buyers will not be permitted to purchase existing homes anywhere in New Zealand (while also announcing a crackdown on immigration).

http://www.rew.ca/news/should-we-follow-new-zealand-s-foreign-buyer-ban-1.23075761?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=beef2b4ec5-REW_Consumer_News_Friday_October_10_27_2017&utm_medium=email&utm_term=0_8e94885b84-beef2b4ec5-93614499

Read full post

Holding the overnight interest rate steady in its October 25 announcement, the Bank of Canada warned that future rate hikes would be likely, although at a more tentative pace than previously anticipated.

Following two interest rate hikes in July and September at consecutive policy meetings, the central bank said it had decided to hold off with another rate hike – for now. This corresponds with the BC Real Estate Association’s prediction in September that interest rates won’t rise again until 2018.

http://www.rew.ca/news/bank-of-canada-promises-caution-in-interest-rate-hikes-1.23074532?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=beef2b4ec5-REW_Consumer_News_Friday_October_10_27_2017&utm_medium=email&utm_term=0_8e94885b84-beef2b4ec5-93614499

Read full post

 

Last year, so many of you so generously donated items to the REALTORS’ CARE BLANKET DRIVE and  as a result, that success contributed to the more than 300,000 people in our communities who have been helped over the past 22 years.

 

This year, THE NEED HAS NEVER BEEN GREATER.

 

Between Tuesday, November 14 to Tuesday, November 21, is the 23rd REALTORS’ CARE BLANKET DRIVE, and we are asking you to help the homeless and working poor stay warm and dry again this winter.

 

Of course, the BLANKET DRIVE does not just mean blankets…….

 

You can help with donations of:
  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear
  • plastic ponchos, bivy sack

 

Although there are many drop off locations on the North Shore, we will save you a trip …….just give us a call and we will pick up your items from you!  Judi 604-868-9812 or Cathy 604-760-2786

 

Thank you in advance for your help again this year. The unbelievable success of this yearly BLANKET DRIVE  is thanks to your donations!

 

 

 

Judi Whyte                                                                  Cathy Wood

604-868-9812                                                              604-760-2786

 

Read full post

The net effect of having non-local buyers investing in a real estate market such as Vancouver, Toronto or New York is overall a “negative” one, according to two professors from UBC and New York who are jointly studying the out-of-town investment on cities.

http://www.rew.ca/news/out-of-town-buyers-have-negative-effect-on-locals-1.23068301?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=2dbba4b1dc-REW_Consumer_News_Friday_October_10_20_2017&utm_medium=email&utm_term=0_8e94885b84-2dbba4b1dc-93614499

Read full post

ll mortgage applicants will have to pass a “stress test” on their qualifying income – no matter how high their down payment – from January 1, the Office of the Superintendent of Financial Institutions (OFSI) confirmed October 17.

 

The stress test was introduced last fall to all applicants of insured mortgages (those with less than 20% down), but has now been extended to all mortgage applicants including uninsured borrowers, as that group comprises a larger segment of the mortgage market.

http://www.rew.ca/news/stress-test-for-all-mortgages-to-launch-in-new-year-1.23068135?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=2dbba4b1dc-REW_Consumer_News_Friday_October_10_20_2017&utm_medium=email&utm_term=0_8e94885b84-2dbba4b1dc-93614499

 

 

Read full post

New homes in the City of North Vancouver are slated to be a little more expensive and a lot more efficient.

City council unanimously endorsed new construction guidelines in accordance with the B.C. Energy Step Code at an Oct. 2 meeting. The change is slated to come into effect as of Dec. 15.

http://www.nsnews.com/news/city-raises-building-standards-to-combat-greenhouse-gas-emissions-1.23063400 

Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.