National

Jump in home sales in Vancouver

Darpan News Desk The Canadian Press, 04 Nov, 2024 02:52 PM

Home sales in Greater Vancouver jumped nearly 32 per cent last month compared with October 2023 as interest rate reductions boosted demand.

A statement from Greater Vancouver Realtors says more than 26-hundred homes changed hands, although that's still about 5.5 per cent below the 10-year average.

After months of tracking approximately 20% below seasonal averages, Metro Vancouver home sales surged more than 30% year-over-year in October.

Check out our October MLS® Market Report to learn more: https://t.co/aiwKs6JyLp #GVR #marketupdate #vancouverrealestate
— Greater Vancouver REALTORS® (Formerly REBGV) (@GVRealtors) November 4, 2024

Andrew Lis, the realtors' director of economics, says four consecutive rate cuts from the Bank of Canada have renewed strength in demand.

The composite benchmark price for all residential properties sold was just over 1.17 million dollars, representing a decrease of just under two per cent from the same month last year.

Prev Next

MORE National ARTICLES

2 injured in Surrey hit and run

Two people were injured in separate hit-and-run crashes early Sunday in Surrey. Police say the first crash involved a Dodge Challenger and a Tesla and the occupants of the Challenger fled the scene on foot.

2 injured in Surrey hit and run

Targeted shooting in Downtown Vancouver

Police say a shooting in downtown Vancouver Saturday night appears to have been targeted. The city's police department says multiple witnesses began calling 9-1-1 around 5:40 p-m, after shots were fired near Richards and Robson streets.

Targeted shooting in Downtown Vancouver

Ammo seized in Port Alberni

Police say a 48-year-old man is facing several charges after officers seized several guns, thousands of rounds of ammunition and homemade explosive devices from a home in Port Alberni. Mounties carried out a controlled detonation of a device at the home yesterday afternoon.

Ammo seized in Port Alberni

Driver allegedly spits on cyclist & strikes them with their vehicle

Victoria police say they are looking for a driver who allegedly spat on a cyclist and struck them with their vehicle. They say the cyclist was at an intersection the afternoon of March 17th when the driver of a black S-U-V spat at them through their open window.

Driver allegedly spits on cyclist & strikes them with their vehicle

On pre-budget charm offensive, Trudeau announces plans to expand $10-a-day child care

The federal government's pre-budget charm offensive is back for a second straight day — this time aimed at parents and child care providers. Prime Minister Justin Trudeau says the government plans to provide more than $1 billion in low-cost loans, grants and student loan forgiveness to expand child care across Canada.

On pre-budget charm offensive, Trudeau announces plans to expand $10-a-day child care

'We won't forget': How some Muslims view Poilievre's stance on Israel-Hamas war

A spokesman for a regional Muslim advocacy group says Conservative Leader Pierre Poilievre's stance on the Israel-Hamas war could complicate his party's relationship with Muslim Canadians. Nawaz Tahir of the Hikma Public Affairs Council in London, Ont., met Poilievre during the leader's outreach efforts in southwestern Ontario last summer.