Anything is possible after this
BTW- Congratulations to Abbotsford's buyers. Abbotsford is the first area in the REBGV or FVREB which is negative YOY for SFH detached - average, median and benchmark.
There are several areas which are close but I am trying to keep up journalistic integrity here.
34 new listings in Whistler last week and 2 sales!
ReplyDeleteInteresting, will it be a trend?
ReplyDeleteIn the Central Okanagan, median prices have been steadily dropping YOY for the past three months, at least. According to a local realtor, the market there is dead. The latest numbers for June show residential (I think this is SFH) down 7%, townhouse down 1.3%, though apartments showed a surprising increase of 24%. Some people luck out in this kind of market, a friend of mine's grandmother has decided to live with family, so they've decided to let my friend live in grandma's condo rent free (well, she has to pay strata fees and utilities) for the time being. The family knows the market is terrible and doesn't anticipate it selling anytime soon. In Kelowna alone there are more than 1200 condos for sale. Good for my friend though!
Yup 18 MOI across the OK and 20 in the Sunshine Coast and the nearly the same in Whistler.
ReplyDeleteIncredible what a difference there is from frothy Vancouver to the periphery.
And these numbers are with LOW rates and a still VIBRANT economy.
If either of these two change, we are in for a price war as those on the margin have to sell.
One million more people are expected to come to Vancouver by 2030. How does the Government of Canada anticipate this regional growth will affect housing and the ability for newcomers and established Canadian workers to find jobs?
ReplyDeleteJoin The Vancouver Board of Trade to hear The Honourable Jason Kenney, Minister of Citizenship, Immigration and Multiculturalism, speak to Canada’s immigration policy, his objectives and how immigration contributes to a strong country.
Date: Tuesday, July 19, 2011
Registration: 11:45 a.m.
Lunch & Program: 12:15 – 2 p.m.
Location: Vancouver Marriott Pinnacle - Pinnacle Ballroom
1128 Hastings Street West
http://www.boardoftrade.com/events/overview/4155185477.aspx
One million coming by 2030 and two million leaving by 2030 because others can't afford to live here. Joking aside, perhaps we should ask Mr. Honourable Jason Kenney the net migration numbers instead. Perhaps the 1 million asians coming in will replace the locals that are leaving. I guess Vancouver will be China one of these days???????
ReplyDeleteI don't know... are second and third generation ethnic Chinese still Chinese? I'm drawing a Yarbough.
ReplyDelete