Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

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Please visit our Open House at 402 3061 KENT AVE NORTH AVE E in Vancouver.
Open House on Sunday, March 29, 2015 2:00 pm - 4:00 pm
LARGE 902 sq. ft, 1 bed + den, 1 bath (den could easily be 2nd bedroom) w/water view in The Phoenix in Fraserview. Well-maintained w/large rooms to fit all your house-sized furniture! Floor-to-ceil. windows face south-east and catch all the morning sun. Bathroom is cheater ensuite w/soaker tub & separate shower. New eng. hardwood flooring throughout, new tile flooring in kitchen & new s/s fridge, new d/w & w/d. Balcony perfect for relaxing while enjoying the view. Amenities incl. i/d pool & hot tub, gym. Pets & rentals allowed. 2 parking stalls, 1 locker. Lovely, park-like area, next to new River District community with new dining, parks & trails & more at your doorstep!
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The Consumer Price Index (CPI) rose 1 per cent in the 12-months to February, matching the increase from January. Lower gasoline prices were the largest contributor to the downward trend in consumer prices, falling 21.8 per cent compared to last year. The Bank of Canada's core CPI index, which excludes fuel, food and other volatile components, increased 2.1 per cent in February, following a 2.2 per cent increase in January.  In BC, inflation registered just 0.8 per cent.

Core inflation edged lower in February but remains slightly above the Bank of Canada (BoC) target of 2 per cent.  Since the Bank's March interest rate announcement, oil prices have weakened significantly and, as expected, incoming data has been soft and the Canadian dollar has lost some ground. Given recent data, the odds of the Bank of Canada lowering its target rate at its April meeting are probably about even. 



BCREA ECONOMICS NOW

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Please visit our Open House at 402 3061 KENT AVE NORTH AVE E in Vancouver.
Open House on Saturday, March 21, 2015 2:00 pm - 4:00 pm
LARGE 902 sq. ft, 1 bed + den, 1 bath (den could easily be 2nd bedroom) w/water view in The Phoenix in Fraserview. Well-maintained w/large rooms to fit all your house-sized furniture! Floor-to-ceil. windows face south-east and catch all the morning sun. Bathroom is cheater ensuite w/soaker tub & separate shower. New eng. hardwood flooring throughout, new tile flooring in kitchen & new s/s fridge, new d/w & w/d. Balcony perfect for relaxing while enjoying the view. Amenities incl. i/d pool & hot tub, gym. Pets & rentals allowed. 2 parking stalls, 1 locker. Lovely, park-like area, next to new River District community with new dining, parks & trails & more at your doorstep!
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Please visit our Open House at 301 11 ROYAL AVE E in New Westminster.
Open House on Sunday, March 22, 2015 2:00 pm - 4:00 pm
HUGE 975 sq. ft, 1 bed + den, 1.5 baths northwest-facing condo in Victoria Hill High Rise Residences. Open floor plan & spacious rooms. Features incl. over-height ceilings, stainless steel, granite & brand new laminate flooring throughout! Massive walk-in closet w/new California Closets. Upgraded washer/dryer. Peaceful outlook to garden and trees. RESORT-style living with excellent amenities incl. o/d pool & hot tub, gym, sauna, party room, games room, media room, library, kids playroom and 2 guest suites. Comes with 2 parking stalls & 1 locker. Located in Victoria Hill, a great New West neighbourhood with parks, trails at your doorstep & easy access to all city amenities. 2 pets & rentals allowed. OPEN HOUSE: Sun, Feb 15, 2-4 pm.
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Please visit our Open House at 402 3061 KENT AVE NORTH AVE E in Vancouver.
Open House on Sunday, March 15, 2015 2:00 pm - 4:00 pm
LARGE 902 sq. ft, 1 bed + den, 1 bath (den could easily be 2nd bedroom) w/water view in The Phoenix in Fraserview. Well-maintained w/large rooms to fit all your house-sized furniture! Floor-to-ceil. windows face south-east and catch all the morning sun. Bathroom is cheater ensuite w/soaker tub & separate shower. New eng. hardwood flooring throughout, new tile flooring in kitchen & new s/s fridge, new d/w & w/d. Balcony perfect for relaxing while enjoying the view. Amenities incl. i/d pool & hot tub, gym. Pets & rentals allowed. 2 parking stalls, 1 locker. Lovely, park-like area, next to new River District community with new dining, parks & trails & more at your doorstep!
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The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.75 per cent. In the press release accompanying the decision, the Bank noted that total CPI inflation has fallen as expected given the significant drop in oil prices, but core inflation has been temporarily boosted by a lower Canadian dollar. Regarding economic growth, the Bank expects the negative impact of lower oil prices to appear in the first half of 2015 before the economy recovers in the second half of the year. Overall, the Bank judges risks to its inflation outlook as balanced and considers the current degree of monetary policy stimulus appropriate.

Stable oil prices and core inflation still trending above the Bank's 2 per cent target seems to have persuaded policymakers that the "insurance" purchased with January's surprise interest rate cut is enough for now. That said, the ultimate impact of lower oil prices has yet to be fully realized and we expect monetary policy to be highly data dependent in coming months. If the Canadian economy experiences significant labour weakness or core inflation starts to trend lower, the Bank may opt to reduce rates at its next meeting in April or possibly early in summer. 

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Home buyer and seller activity outpaces historical averages in February

Conditions within the Metro Vancouver* housing market continued to strengthen in February as home sale and listing totals came in well above the region’s ten-year average for the month. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in February 2015. This represents a 21 per cent increase compared to the 2,530 sales recorded in February 2014, and a 60 per cent increase compared to the 1,913 sales in January 2015.

Last month’s sales were 20.2 per cent above the 10-year sales average for the month. “It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now,” Ray Harris, REBGV president, said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,425 in February. This represents a 15.4 per cent increase compared to the 4,700 new listings reported in February 2014. Last month’s new listing count was 11.8 per cent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 11,898, an 11.3 per cent decline compared to February 2014 and a 10.1 per cent increase compared to January 2015. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $649,700. This represents a 6.4 per cent increase compared to February 2014.

The sales-to-active-listings ratio in February was 25.7 per cent. This is the highest that this ratio has been in Metro Vancouver since March 2011. “We’re seeing more multiple offer situations and generally more traffic at open houses today,” Harris said. “In a market such as this, it’s important to do your homework and work with your local REALTOR® before embarking on your home buying and selling journey.”

Sales of detached properties in February 2015 reached 1,296, an increase of 25.6 per cent from the 1,032 detached sales recorded in February 2014, and an 84.1 per cent increase from the 704 units sold in February 2013. The benchmark price for a detached property in Metro Vancouver increased 9.7 per cent from February 2014 to $1,026,300.

Sales of apartment properties reached 1,244 in February 2015, an increase of 20.5 per cent compared to the 1,032 sales in February 2014, and an increase of 63.7 per cent compared to the 760 sales in February 2013. The benchmark price of an apartment property increased 3 per cent from February 2014 to $386,500.

Attached property sales in February 2015 totalled 521, an increase of 11.8 per cent compared to the 466 sales in February 2014, and a 56.5 per cent increase from the 333 attached properties sold in February 2013. The benchmark price of an attached unit increased 4.6 per cent between February 2014 and 2015 to $481,500.

 

 

If you would like detailed statistics for a specific kind of property in any REBGV city and/or neigbourhood please contact me and I can easily send to you at your convenience.

 

Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

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Please visit our Open House at 301 11 ROYAL AVE E in New Westminster.
Open House on Sunday, March 8, 2015 2:00 pm - 4:00 pm
HUGE 975 sq. ft, 1 bed + den, 1.5 baths northwest-facing condo in Victoria Hill High Rise Residences. Open floor plan & spacious rooms. Features incl. over-height ceilings, stainless steel, granite & brand new laminate flooring throughout! Massive walk-in closet w/new California Closets. Upgraded washer/dryer. Peaceful outlook to garden and trees. RESORT-style living with excellent amenities incl. o/d pool & hot tub, gym, sauna, party room, games room, media room, library, kids playroom and 2 guest suites. Comes with 2 parking stalls & 1 locker. Located in Victoria Hill, a great New West neighbourhood with parks, trails at your doorstep & easy access to all city amenities. 2 pets & rentals allowed. OPEN HOUSE: Sun, Feb 15, 2-4 pm.
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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.