News
Published brokerage updates and market posts.
News
Published brokerage updates and market posts.
After a period of stagnation, the Canadian real estate market is showing signs of recovery this spring, supported by significant increases in new housing starts and a surge in seller activity. These trends indicate a potential turning point for the Greater Vancouver area.
After seven months of declines, Canada's rental market is signaling a turnaround, with national asking rents rising for the first time since September 2025. However, the recovery is uneven across provinces, with Ontario facing the steepest losses.
A recent report shows that British Columbia has the largest decrease in average rent prices in Canada, with significant declines in major cities like Vancouver. The Minister of Housing emphasizes the importance of these trends for renters across the province.
After years of construction, Vancouver's highly anticipated Oakridge Park mall will officially open to the public on May 28, 2026, featuring a mix of retail, dining, and recreational spaces.
The Greater Vancouver REALTORS® (GVR) endorses new recommendations aimed at reforming short-term rental legislation to better support local economies and housing needs. These changes focus on providing exemptions for tourism, healthcare, and the film industry.
Surrey is seeking provincial approval to reduce residential development cost charges by 7-9% in 2026, aiming to make housing more affordable. Mayor Brenda Locke emphasizes that this move supports increased home building while investing in necessary city infrastructure.
Richmond city council has approved a comprehensive park plan for the Lansdowne Shopping Centre redevelopment, which will include 4,000 new homes. The first phase of residential development is expected to be approved in early 2026.
A recent panel discussion highlighted how rising oil prices are affecting construction costs in British Columbia, particularly in excavation and concrete work. Experts warn that a declining population and high standing inventory could further complicate the housing market.
The Surrey-Langley SkyTrain extension is set to enhance regional connectivity with eight new stations under construction along a 16-kilometer route. This project aims to significantly reduce travel times and support the growth of surrounding communities.
Vancouver's rental market is experiencing a decline, with one-bedroom rents down 6% and two-bedroom rents down 3.5% year-over-year. Despite this drop, Vancouver remains the most expensive city for renters in Canada.
The City of Delta has sent back two townhouse rezoning applications for revisions, citing concerns over driveway access and compliance with local regulations. The proposals aim for a unified design but face challenges in meeting city requirements.
A recent ruling by British Columbia's Office of the Information and Privacy Commissioner mandates that the City of Vancouver must not disclose the addresses of short-term rental operators, citing privacy concerns. This decision concludes a lengthy freedom of information dispute initiated by housing advocate Rohana Rezel.
