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

City of Surrey completes cleanup project

The City of Surrey says it has completed a cleanup project in the Nicomekl River in South Surrey. It says abandoned or wrecked vessels, rafts and associated garbage was all pulled from the river.

City of Surrey completes cleanup project

Weekend training exercises at Metrotown mall

Mounties in Burnaby are telling the public not to be alarmed as emergency responders conduct training exercises at a major shopping mall. Police say fire, police and emergency responder presence will be visible at Metrotown during eight evenings this month and next.

Weekend training exercises at Metrotown mall

Leaders spread out around the province as week two of campaigning in B.C. continues

Politicians are continuing to promote their promises across British Columbia as the provincial election campaign nears its midway point. British Columbia's election day is on Oct. 19.

Leaders spread out around the province as week two of campaigning in B.C. continues

Beyond the Stereotypes: A Deep Dive into the International Student Experience

The narrative around international students in Canada is further complicated by prevalent stereotypes, which can unfairly depict them as contributors to housing shortages and job competition rather than recognizing their vital role in the country’s educational and economic landscape. We delve into the personal stories of three international students who share their experiences and challenges in this increasingly complex environment.

Beyond the Stereotypes: A Deep Dive into the International Student Experience

Industry minister echoes Shopify calls to boost ambition in Canada

Canada's industry minister has thrown his support behind a call from one of Shopify Inc.'s leaders for the country to get more ambitious. Among the buzziest talks was one from Shopify president Harley Finkelstein, who told the audience on opening night that he had noted a lack of ambition in Canada that he likened to a "600-pound beaver in the room."

Industry minister echoes Shopify calls to boost ambition in Canada

Man arrested in Fort Nelson arson

A 41-year-old man has been charged in connection with a June 15th arson in Fort Nelson. Mounties say they were called to the scene where a heavy-duty tow truck and a car were allegedly set on fire in a secure tow lot.