National

Real Estate Board see stability in real estate

Darpan News Desk The Canadian Press, 26 Jan, 2024 05:22 PM

The Real Estate Board of Greater Vancouver says there’s an emerging patter of stability in the commercial real estate market.

While sales were down in the third quarter of 2023 compared with the year before, the board says demand for commercial properties is starting to re-emerge.

Commercial sales in the third quarter last year totalled 1.8 billion dollars, a 20.2 per cent drop from the same period the year before.

Andrew Lis, the board’s director of economics, says it’s too soon to say if the third quarter was the bottom of the cycle, but sales remained static in the fourth quarter, which could reflect a shift toward a more positive 2024.

Prev Next

MORE National ARTICLES

3 dead after helicopter crashes near Terrace

A heli-skiing company says three people have died after one of its helicopters crashed in west-central British Columbia. Northern Escape Heli-Skiing, which is based in Terrace, B.C., confirmed the deaths in a news release but did not say how many people were involved in the crash near the city.

3 dead after helicopter crashes near Terrace

Metro Vancouver residents scramble for another ride as bus strike drags into Day 2

Hundreds of thousands of Metro Vancouver residents are without a bus ride again today as striking transit supervisors carry on with their 48-hour strike. The dispute between more than 180 members of CUPE Local 4500 and Coast Mountain Bus Company has stopped 96 per cent of the region's buses as well as the SeaBus across Burrard Inlet.

Metro Vancouver residents scramble for another ride as bus strike drags into Day 2

Winters Hotel fire: B.C. inquest told of chained door, 'no way out' from deadly blaze

A coroner's inquest has been told that a Vancouver rooming house where a fire killed two people in 2022 had a chained door, as relatives testified about the devastating impact of the blaze. The inquest into the deaths of Mary Ann Garlow and Dennis Guay began Monday with family members describing their loss in the fire that gutted the Winters Hotel in Vancouver.

Winters Hotel fire: B.C. inquest told of chained door, 'no way out' from deadly blaze

West Fraser Timber permanently closing Fraser Lake, B.C., sawmill

West Fraser Timber Co. Ltd. says it's permanently closing its sawmill in Fraser Lake, B.C., after an orderly wind-down. The Vancouver-based company says it's unable to access economically viable fibre in the region.

West Fraser Timber permanently closing Fraser Lake, B.C., sawmill

Review in police misconduct

B.C.'s police complaint commissioner has ordered a review of the discipline handed out to an officer over sexual misconduct claims, saying the punishment didn't fit the seriousness of the sexual allegations that were "predatory in nature." The matter was investigated by the Vancouver Police Department, which found the officer committed two instances of discreditable conduct.

Review in police misconduct

Man dies in Surrey fire

A 54-year-old man is dead after a building fire in Surrey that also killed two pets. Surrey R-C-M-P say they got a report of a fire in the upper residential suites of a commercial building a little before 3:30 this morning.