Real Estate

Vancouver city council has approved the intensive redevelopment of half a city block in downtown Vancouver.

A gaming company is hoping for some luck in convincing the City of North Vancouver to overturn its ban on gambling in order to allow slot machines on a redeveloped waterfront.

A total of 2,390 residential home sales were registered in Greater Vancouver in November – up 38% compared with November 2012 – according to British Columbia Real Estate Association (BCREA) data released December 13.

The rental market in Greater Vancouver remained relatively stable in October compared with one year prior, according to Canada Mortgage and Housing Corporation (CMHC) data released December 12.

The price of new housing fell in Vancouver and Victoria in October, according to Statistics Canada data released December 12.

Home sales in greater Vancouver are expected to hit 28,000 units by the end of the year, representing a 10% increase over last year’s sales of 25,445, according to a Re/Max of Western Canada housing market outlook report released December 11.

Housing starts in the Vancouver census metropolitan area were up in November compared with one month prior, according to Canada Mortgage and Housing Corporation (CMHC) data released December 9.

The value of building permits was up in October in the city, the province and Canada-wide, according to Statistics Canada data released December 5.

The importance of public spending in British Columbia non-residential construction was underscored when awards were presented last month for the leading building projects across the province.

The British Columbia Real Estate Association (BCREA) is forecasting stronger commercial construction next year, based on what it calls its “commercial leading indicator.”