News
Published brokerage updates and market posts.
News
Published brokerage updates and market posts.
BC Hydro is exploring two massive new hydroelectric projects—Site E on the Peace River and a multi-dam complex on the Homathko River—to meet electricity demand forecasted to jump 50% by 2050. For real estate investors and developers, the proposals signal where industrial growth and transmission infrastructure may concentrate over the next two decades, while highlighting the urgency of electrification costs for new housing.
A new NerdWallet Canada survey finds over one-third of non-homeowners want to purchase a home within the next year but expect to remain renters or live with relatives instead, viewing housing as overpriced and unfair to first-time buyers. For Greater Vancouver, this signals a large pool of sidelined demand that cannot easily convert into sales, reshaping the dynamics for sellers, landlords, and move-up buyers.
Starting next month, FortisBC residential gas bills will rise by approximately $1.57 per month for typical usage, after the BC Utilities Commission approved a hike tied to higher renewable natural gas content. For Greater Vancouver homeowners, landlords, and buyers, the increase is small but locked in until October, making it a useful prompt to review total carrying costs and heating efficiency before the next rate review.
Seasonal sales upticks in May are masking a deeper behavioral shift as buyers return for second showings and sellers abandon 2022 pricing fantasies, though the bounce comes from historically depressed activity levels.
The BC government terminated its contract with Cross Fraser Partnership for the George Massey Tunnel replacement after failing to agree on final construction costs, switching to a multi-contractor bid model while keeping the 2027 construction target.
TransLink recorded 1.03 million boardings during Vancouver's first FIFA World Cup match on June 13, marking the busiest Saturday for BC Place events since the 2010 Olympics and validating the infrastructure capacity that underpins transit-oriented real estate values across the Expo and Millennium lines.
The District of North Vancouver council voted unanimously on June 1 to advance zoning changes that would remove floor-space exemptions for basements and garages while allowing homes to reach three storeys. The move aims to reduce environmental impact and improve rental suite quality, affecting approximately 20,000 properties and potentially altering construction economics for buyers and developers.
BC has announced a $102.5 million investment to resurface over 200 km of highways this summer, with $46 million earmarked for Lower Mainland sections including Highway 1 in Abbotsford, Hope and the North Shore, and $56.5 million for Vancouver Island routes near Nanaimo and Campbell River. For local homeowners, buyers and landlords in these corridors, the work means immediate traffic delays and reduced speeds, but also improved long-term connectivity that should be weighed against short-term carrying costs and tenant retention risks.
After more than two years of 'permit hell,' construction has finally begun on the second Burnaby T&T Supermarket at Gilmore Place, revealing the often underestimated gap between residential occupancy and retail activation in major mixed-use developments.
Terrace city council has unanimously directed staff to explore creating a separate zoning category for data centres, potentially requiring site-specific council approval and public hearings for future projects. For Greater Vancouver real estate investors holding industrial land or watching provincial development trends, this signals growing municipal scrutiny over data centre impacts including water usage, noise, and light pollution that could spread to other BC communities.
President Trump's June 10 threat to let CUSMA lapse puts 90% of Canadian exports at tariff risk, creating material cost uncertainty for Vancouver new construction and economic headwinds that could affect buyer confidence in the region.
New Westminster City Council passed a bylaw amendment requiring landlords to maintain at least one living space at or below 26°C during overnight hours from April through October, making it the first Metro Vancouver municipality to mandate indoor cooling standards for existing rental stock following the deadly 2021 heat dome that killed 33 local residents.
