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Blog by Mario Felicella - Sutton Group Westcoast Realty

Will Canada’s real estate boom come to an end in 2016?

October 26th, 2015

A new forecast from Canada Mortgage and Housing Corp. suggests massive price gains in real estate are coming to an end next year.

The Crown Corporation says its forecast is for the average sale price of existing homes to rise 7.2 per cent for this year to $437,700. CMHC provides a range for 2015 for average existing home prices of $417,000 and $459,000. By 2016, the range will be between $420, ...

Some homeowners in Metro Vancouver to see a significant increase in home value

October 19th, 2015

Some homeowners in the Metro Vancouver area can expect to see a significant increase when they receive their 2016 assessment notices in the mail this January.

Increases of 15 to 25 per cent are expected for single-family homes in Vancouver, the North Shore, Burnaby, Tri-Cities, New Westminster, Richmond, Surrey and Delta.

Typical strata residential increases will be in the five to 10 per cent r ...

Canadian housing market continues to defy gravity

October 12th, 2015

Canadian housing starts surged unexpectedly in September while new home prices also beat forecasts in August, prolonging a housing boom in the country despite signs of weakness in other parts of the economy.

Groundbreaking on new homes jumped to a seasonally adjusted annual rate of 230,701 in September from a downwardly revised 214,255 in August, a report by the Canada Mortgage and Housing C ...

Prices for single-family detached houses in Greater Vancouver reach new highs

October 7th, 2015

Benchmark prices for single-family detached houses in Greater Vancouver ascended to new highs last month.

The Home Price Index (HPI) for detached properties in the region hit almost $1.18-million in September, up 18.9 per cent from the same period in 2014. On Vancouver’s west side, the HPI rose 19.2 per cent over the past year to surpass $2.74-million while surging 22.5 per cent to $1.16-milli ...