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

Seizure of cannabis outside prison

Canada's Correctional Service says officials recently seized 70-thousand-dollars' worth of cannabis from outside a federal prison in B-C's Fraser Valley. The service says it happened last Thursday along the perimeter of the medium-security Mountain Institution outside Agassiz, northeast of Chilliwack.

Seizure of cannabis outside prison

B.C. NDP must 'adapt,' 'build bridges,' says Surrey MLA now nicknamed 'Comeback Kid'

Garry Begg's slim win over the B.C. Conservative candidate in Surrey-Guildford is still subject to a judicial recount, but for now his win gives the NDP the 47 seats needed to form a majority government in British Columbia's 93-seat legislature.

B.C. NDP must 'adapt,' 'build bridges,' says Surrey MLA now nicknamed 'Comeback Kid'

More than a quarter of Canadians will spend at least 100 bones on Halloween: poll

A new poll suggests more than a quarter of Canadians will spend $100 or more on Halloween, with roughly 70 per cent of respondents saying they'll fork over as much money as they did last year on candy and costumes. That's according to polling firm Leger, which surveyed 1,520 adults this month on their Halloween habits.

More than a quarter of Canadians will spend at least 100 bones on Halloween: poll

Recounts rarely alter elections. There's another reason they matter, says B.C. expert

Premier David Eby's NDP claimed victory on Monday in B.C.'s Oct. 19 election, but the counting isn't over. Two judicial recounts were triggered at the end of the "final count," by an NDP candidate's 27-vote victory margin in Surrey-Guildford, and a Conservative candidate's 38-vote win in Kelowna Centre.

Recounts rarely alter elections. There's another reason they matter, says B.C. expert

Ottawa urged to halt imports of endangered monkeys for drug testing, amid U.S. probe

The influx of long-tailed macaques from Cambodia, which the U.S. alleges are being illegally captured from the wild, has animal advocates, researchers and opposition politicians sounding the alarm over animal welfare and potential public-health risks. The latest push comes from the federal NDP, which is urging Ottawa to bring "immediate attention" to the issue.

Ottawa urged to halt imports of endangered monkeys for drug testing, amid U.S. probe

Telecommunication theft in Abbotsford

Police say they're investigating an increase in thefts targeting Telus communication lines in the Abbotsford area. A statement from Abbotsford police says the thefts have interrupted 9-1-1 service and resulted in 100-thousand-dollars' worth of damage.