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

Canadian Medical Association calls for more tracking of health care funds

The Canadian Medical Association says there should be better tracking of health care spending, following health care agreements the federal government has signed with the provinces and territories. The doctors’ group has released a new report calling for a greater commitment to tracking improvements in delivery and patient outcomes, citing the complexity of the deals.

Canadian Medical Association calls for more tracking of health care funds

4 youth assaulted with bear mace

West Shore Mounties say a 32-year-old man is facing eight charges after a group of four youth were assaulted with bear mace last week. They say officers responded to a report of an assault on Wednesday around on the Galloping Goose Trail.

4 youth assaulted with bear mace

Collision in Langley leaves one dead and closes some lanes of Highway 1 overnight

One person is dead and another has been airlifted to hospital following a crash on Highway 1 in British Columbia. Sgt. Joe Leeson with Langley RCMP says officers were called around 9:40 p.m. Friday night after a tow truck hit the rear of a tractor-trailer unit in the eastbound lanes of Highway 1. Leeson says the tow-truck driver died at the scene.

Collision in Langley leaves one dead and closes some lanes of Highway 1 overnight

Repair work will keep 60-year-old ferry out of service for half a year: BC Ferries

The company operating British Columbia's ferries says divers have recovered a propeller that fell off one of its vessels and triggered an oil spill earlier this week, but notes it will take six months to complete the needed repairs. A statement from BC Ferries says the propeller from the 60 year-old Queen of New Westminster -- which weighs about 4,500 kilograms -- was pulled from the seabed Saturday morning after two days of recovery work.

Repair work will keep 60-year-old ferry out of service for half a year: BC Ferries

Whistler RCMP tracks down family of child found alone and barefoot

RCMP in British Columbia say they've found the family of a boy who was found barefoot and wandering alone in Whistler over the weekend. Mounties in Whistler say they responded to a report of an unaccompanied child, who they believed was about 12-years old, on Saturday night at Dairy Queen on Main Street.

Whistler RCMP tracks down family of child found alone and barefoot

Mediated talks aimed at resolving Metro Vancouver accessible transit strike stall

The union representing HandyDART workers in Metro Vancouver says it won't be getting a counterproposal to end the strike until at least Thursday. Amalgamated Transit Union Local 1724 says officials from the employer Transdev left mediation talks at the Labour Board just after 8 p.m. Sunday to consider the union's latest proposal.