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LandlordBC RentalHousing Task Force Recommendations Released.

Posted in Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Rent Control, Tenancy Law

LandlordBC RentalHousing Task Force Recommendations Released.

Today, December 12, 2018, Chair Spencer Chandra Herbert and his fellow task force members released their Rental Housing Task Force recommendations as they pertain to the Residential Tenancy Act.   The Task Force completed their consideration of the various submission they received and research they conducted and put forth their recommendations to the Premier and Minister of Municipal Affairs and Housing today.  The recommendations are generally balanced and largely represent a modernizing of...

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Investment in Alberta not all it appears to be

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Investment in Alberta not all it appears to be

Investment activity in Alberta looks promising, but a closer look at the numbers tells a different story. An analysis by Altus Group of activity through the third quarter of 2018 revealed the provincial capital bore witness to $3.1 billion of investment, which is a 38% increase over the same quarter in 2017 and a whopping 86% spike over the first three quarters of 2016. Breaking down those numbers, the industrial sector’s investment by the end of Q3 was $638.7 million, and retail investment...

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Toronto and Vancouver most ‘vulnerable’ to rate hikes: CMHC

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Tax Law

Toronto and Vancouver most ‘vulnerable’ to rate hikes: CMHC

Canadians living in two of the country’s largest cities may find themselves more “vulnerable” to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record-levels, warns a report by Canada Mortgage Housing Corp. The housing agency says the debt-to-income (DTI) ratio for those living in Vancouver climbed to 242 per cent in the second quarter, which ended June 30. That means that for every $1 of disposable income, $2.42 is owed. It was...

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Average vacancy rate across Canada decreases to 2.4%

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Rent Control, Tenancy Law

Average vacancy rate across Canada decreases to 2.4%

According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental housing in some form in almost all centres, but more...

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Average vacancy rate across Canada decreases to 2.4%

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Maintenance, Newsworthy, Real Estate Law, Rent Control, Tax Law, Tenancy Law

Average vacancy rate across Canada decreases to 2.4%

Average vacancy rate across Canada decreases to 2.4% According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental...

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October 2018 Rent Report

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Rent Control, Tenancy Law

October 2018 Rent Report

For the fifth time since mid-2017, the Bank of Canada raised interest rates, hiking the overnight rate by a quarter of a percentage point to 1.75 per cent on October 24th. Higher borrowing costs will continue to weigh on prospective first-time homebuyers, resulting in delayed buying, and increased rental demand. National Overview In October, the average rental property on Rentals.ca was listed for rent at $1,836 per month, with the median property listed for $1,700 per month. It should be...

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Vancouver project promises 6 decades of affordability

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Rent Control, Tax Law, Tenancy Law

Vancouver project promises 6 decades of affordability

In its announcement earlier this week, the CMHC introduced the latest project to benefit from its Rental Construction Financing initiative: Conrad by Cressey Development in Vancouver. The $40.2-million investment will ensure a prolonged haven of affordability for the city’s struggling middle-class families. “Over 60% of the units will have rents at or lower than 30% of median household income in the area and, under an agreement with the City of Vancouver, this affordability will be maintained...

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Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities

A conversation about housing has to start with numbers. Whether you’re a tenant struggling to find a home or a government crafting new policy during a nationwide housing crisis, you need to have a grip on good data. The hunt for rental housing, particularly in Toronto and Vancouver, has become increasingly competitive and confusing as the number of people looking to live in cities continues to outpace what is actually being built. “Renters going to shop for a place to rent have almost no...

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Montreal housing market continues hot streak to 2020

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Montreal housing market continues hot streak to 2020

Continued economic growth will drive Montreal’s housing upswing to 2020, according to the latest Housing Market Outlook report from the Canada Mortgage and Housing Corporation (CMHC). The report also forecasts that the Montreal construction boom will continue its growth, with new projects coming off the ground in the next few months. “In the condominium segment, construction will increase thanks to a steady demand supported by employment growth and also to significantly lower inventories of...

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Toronto apartment inventory having trouble catching up with demand

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Toronto apartment inventory having trouble catching up with demand

Toronto’s apartment segment is experiencing a healthy infusion of new supply, but a new analysis by Marcus & Millichap indicated that the rate of addition is not proving enough to address the inflamed levels of demand for the city’s residential spaces. The Toronto Multifamily Spotlight report for November 2018 stated that the first 3 quarters of 2018 saw the addition of 2,500 new apartments, putting the delivery rate on track to reach the highest level since 1994. However, elevated prices...

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