Close X
Friday, November 1, 2024
ADVT 
National

Experts See Some Relief For Vancouver's Tight Housing Market By Late 2018

Darpan News Desk The Canadian Press, 07 Nov, 2017 11:38 AM
    VANCOUVER — A real estate association watching Metro Vancouver's tight and costly housing market predicts conditions should begin to ease by the third quarter of 2018.
     
    The British Columbia Real Estate Association says home builders are responding to a lack of available homes across the region by dramatically increasing multi-family housing starts.
     
    Starts across Metro Vancouver surged 40 per cent to 22,700 units in 2016, while the report says an estimated 19,700 multi-family homes were started so far this year, and a further 19,000 units are forecast in 2018.  
     
    The association's report says data on estimated completion times of the developments suggests available suites in new apartment projects should rise from fewer than 4,000 units per quarter in 2016 to about 6,000 by late next year.
     
    Most of the units are pre-sold, but the report says renters who are buying homes will free up needed rental suites, while owners moving to new units will bolster a scarce supply of housing as their former properties go on sale.
     
    The study says a surge in multi-family completions isn't the only solution for housing affordability in Metro Vancouver.
     
    But it says a significant increase in the supply of homes can help keep a lid on climbing rents and house prices.

    MORE National ARTICLES

    Retail Jobs Put At Risk By Self-Service Technology, Experts Say

    Retailers are racing to adopt new technologies, like the self-scanner Walmart has rolled out in 22 Canadian stores, to stay competitive in a challenging industry. 

    Retail Jobs Put At Risk By Self-Service Technology, Experts Say

    Judge Praises Sex-Assault Victim, Sentences Woman's Former Supervisor

    Judge Praises Sex-Assault Victim, Sentences Woman's Former Supervisor
    HALIFAX — He was her supervisor and sexually abused her for months — repeatedly groping her and making sexual comments, all under the guise of joking around.

    Judge Praises Sex-Assault Victim, Sentences Woman's Former Supervisor

    Fire That Ravaged A $14M Shaughnessy Home May Have Been Set Deliberately

    Fire That Ravaged A $14M Shaughnessy Home May Have Been Set Deliberately
    October 22, 2017 just before 2:30 a.m. officers from the VPD and the Vancouver Fire and Rescue Service responded to a house fire near Angus Drive and Matthews Avenue in Vancouver. 

    Fire That Ravaged A $14M Shaughnessy Home May Have Been Set Deliberately

    American Officials Investigating After Air Canada Flight Lands Without Approval

    American Officials Investigating After Air Canada Flight Lands Without Approval
    SAN FRANCISCO — American aviation officials are investigating after an Air Canada flight from Montreal landed on a San Francisco runway after being told not to.

    American Officials Investigating After Air Canada Flight Lands Without Approval

    Fun Police? Montreal Man Given $149 Ticket For Loudly Singing Everybody Dance Now While Driving

    Fun Police? Montreal Man Given $149 Ticket For Loudly Singing Everybody Dance Now While Driving
     A Montreal man's decision to let loose and belt out a 1990s dance hit while inside his car has landed him a $149 ticket for being too loud in public.

    Fun Police? Montreal Man Given $149 Ticket For Loudly Singing Everybody Dance Now While Driving

    Calgary Mom's Conviction In Son's Death Should Be Tossed Due To Delay: Lawyer

    Calgary Mom's Conviction In Son's Death Should Be Tossed Due To Delay: Lawyer
    CALGARY — The lawyer for a Calgary woman found guilty in the death of her son from a strep infection says the conviction should be overturned due to unreasonable delay.

    Calgary Mom's Conviction In Son's Death Should Be Tossed Due To Delay: Lawyer