Greater Vancouver Real Estate News

As you’ve probably heard, the BC Government will lend first-time homebuyers up to 5% of the purchase price to use as a downpayment to a maximum of $37,500.

Property Surveyors, sometimes referred to as land Surveyors, play a vital role in the real estate world. They are the professionals who determine or confirm the exact boundaries of a property.

According to the 2016 CMHC Greater Vancouver Rental Market Report, overall vacancy rates have decreased to 0.7% and the average rent is $1,223 which is up 6.4%. On average, Vancouver still continues to achieve higher rental rates than outlying areas. View the PDF for all the details.  You should see the Greater Vancouver Rental Market PDF below, but if not, you can manually Open the PDF.

Real estate has always been a great way to diversify your investment portfolio. It allows you to increase your equity on a monthly basis as your tenant pays rent, and also provides you with a long term nest egg as your property increases in value.

Here is a great article with some things to consider.

Due to low vacancy rates, the City of Vancouver is considering implementing a 1% Tax on Empty Homes to encourage owners to rent out their vacant property. The city is scheduled to listen to the recommendations this morning and vote on it asap.  If approved, the tax will come into effect in January 2017, but qualifying owners will not be required to pay until the following year.