The Real Estate Board of Greater Vancouver says the region continues to see an increase in newly listed properties, but sales still lag behind long-term trends. The board says October home sales totalled 1,996, a 3.7 per cent increase from the 1,924 sales recorded the same month last year. But the total was 29.5 per cent below the 10-year seasonal average of 2,832 for October.
The British Columbia government is warning drivers about a storm bringing snow and possibly freezing rain as it bears down on the province's southern Interior. A statement from the Ministry of Transportation says wintry conditions are expected to last until Thursday afternoon, when a transition to rain is forecast.
The new law would require local governments to update zoning bylaws to permit multi-unit buildings on lots typically used for single-family detached homes. Cities are to allow at least three units on lots up to 280 square metres in size, while at least four units are to be permitted on larger lots, and at least six units will be allowed on larger lots that are close to transit stops with frequent service.
Vancouver police have conducted a series of raids of retail outlets as part of an investigation into the illegal sale of illicit psychedelic drugs including psilocybin, also known as magic mushrooms. Officers searched three storefronts in Marpole, Mount Pleasant, and Strathcona, seizing a variety of controlled substances police believe were being bought and sold in bulk quantities to walk-in customers.
Mounties on Vancouver Island say thieves are making off with batteries from railway control boxes, causing an estimated 800-thousand dollars in damages and replacement costs. Police say the island-wide problem stretches from Langford to Comox Valley and multiple thefts have occurred between August to October.
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is expected to have on the economy. Macklem appeared before a Senate committee alongside senior deputy governor Carolyn Rogers on Wednesday following the Bank of Canada's most recent interest rate decision and monetary policy report.
