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Blog by Mario Felicella - Sutton Group Westcoast Realty

Which Canadian cities will see the most residential growth in 2015?

October 28th, 2014

Homeowners who choose the convenience of city life over the more generous living space in suburbia are driving Canada’s real estate market, according to a new report jointly produced by consultancy PricewaterhouseCoopers and the non-profit Urban Land Institute.

The annual outlook on emerging real estate trends says the move downtown, which has emerged in the past few years, will co ...

Vancouver’s real estate forecast to stay hot into next year

October 23rd, 2014

Foreign money and a robust provincial economy will preclude any cooling of Vancouver’s red-hot property market next year, according to a major real estate study which was just released.

Office space is the one real-estate category where an oversupply is forecast in the city, to be accompanied by potential downward pressure on pricing.

That assessment comes courtesy of a voluminous ...

Canadian housing boom is over - except in the Hot 3 cities

October 13th, 2014
While housing markets across the country have largely simmered down, that's not so in Calgary, Toronto and Vancouver where prices are rising sharply, according to a new report from BMO Economics.

The report shows that strong demand and lean listings in the 'Hot-3' markets have sent prices soaring, while most other regions have cooled. Prices are flat in Montreal and Ottawa, and falling ...

Greater Vancouver housing sales soar during usually slow September

October 5th, 2014

Greater Vancouver housing sales shot up during the traditionally slower month of September while prices hit record highs.

There were 2,922 resale properties that changed hands last month, up 17.7 per cent from the same month in 2013 and 16.1 per cent higher than the 10-year average for September, according to the Real Estate Board of Greater Vancouver.

“September was an active perio ...

Canadian finance minister downplays fears of a housing bubble

October 2nd, 2014
Joe Oliver, the federal finance minister, downplayed fears of a housing bubble and emphasized three of Canada’s largest markets continue to distort national housing numbers.

“There are three urban centres, Calgary, Toronto and Vancouver, where the prices continue to go up and there are affordability issues,” the finance minister said following a conference in Toronto hosted by the In ...