Author: southsurreyhomesblog

The Bank Of Canada Is Unlikely To Raise Rates & Real Estate Needed Higher Rates Last Year

Canadian bond yields are soaring, but the central bank isn’t expected to raise rates. At least not yet, according to an analysis from BMO Capital Markets. Government of Canada (GoC) bond yields showed a multi-year high for annual growth in 2021. This means rising market expectations of the overnight rate climbing in the near-term. Despite soaring […]

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Real estate Q&A: Expert highlights trends in latest B.C. property value assessments

Over the weekend, homeowners learned how their property value had changed in the last year with the release of the latest assessment data. B.C. Assessment updated its website to reflect values calculated in July of last year, and many noted significant increases in value. Among those who saw a spike were the owners of B.C.’s […]

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Latest data from BC Assessment paints a grim picture for young, hopeful buyers, experts say

The latest data from BC Assessment shows significant increases in property values across the Lower Mainland. It’s another blow for young people hoping to buy, experts say. The numbers, which are based on market values as of July 1, 2021, were released Sunday, showing increases hovering around 20 per cent and higher across the region […]

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Vancouver house prices expected to soar 12% to $1.9 million in 2022

The trajectory for Metro Vancouver’s housing market continues to be upwards, with heightened demand expected to propel prices even further next year. According to Royal LePage’s new market forecast, by the fourth quarter of 2022, the median price of a single-family detached property in the region is expected to increase 12% year-over-year to $1.893 million. […]

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Everyone In Canada Wants To Be A Real Estate Agent, And Low Mortgage Rates Turn Toxic

Time for your cheat sheet on this week’s top stories.  Canadian Real Estate Canada’s Real Estate Bubble Has Buyers Paying 2x The Mortgage Of Existing Owners Canadian homebuyers are paying double the payments of existing homeowners. In 2021, the average homeowner’s mortgage payment climbed to $1,382 per month in the third quarter. The average homebuyer […]

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RBC Economics says lack of homes for sale to “keep prices under intense upward pressure in near term”

RBC Economics doesn’t see Canadian homes becoming cheaper anytime soon. To the contrary, a report by bank economist Robert Hogue anticipates that residential properties are going to get more expensive, at least in the near term. It’s all got to do with the lack of homes for sale. Hogue’s report is partially titled “Wanted: homes […]

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BCREA 2021 Fourth Quarter Housing Forecast: Strong Market Activity to Continue in 2022

The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise rise 29 per cent to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 15 per cent to […]

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