Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

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I have sold a property at 1601 15 ROYAL AVE E in NEW WEST.
Fantastic, 2 bed/2 bath, 898 sq. ft. northwest-corner unit in the Victoria Hill Highrise Residences. Unobstructed, beautiful views of mountains & Queen's Park. This condo has over-height ceilings, eng. hardwood, granite & s/steel finishes. Excellent floor plan w/2nd bed & 2nd bath on opposite corner, great for privacy. Amenities are RESORT-style, incl: o/d pool & hot tub, gym, sauna, party room, billiards room, library & 2 guest suites. Located in Victoria Hill, New West's "park-like" community with lots of trails & greenspace yet with easy access to all of downtown New West's shopping, banks, pubs, restaurants & Skytrain. Rentals & 2 pets allowed.
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I have sold a property at 402 6055 Nelson AVE in Burnaby.
Location & location! Walking distance to Mall and Sky-train! Luxurious & very spacious 2 bedroom & 2 bath SW corner unit at Mirage II. Well laid out kitchen with open foyer entrance. A huge south facing balcony (6'x19'). Lots of updates been done with new rain-screen, new vinyl double-glassed window, new balcony and new pipes and newer carpet, high quality drapes & kitchen appliances in 2008 or after. Very well maintained unit as owner's vacation home for more than 10 years. Lots of amenities, large sized indoor pool, hot tub, sauna gym, library, Badminton court, basketball court and squash courts! Comes with 1 parking (#53) & 1 storage locker (#85). Don't miss your chance can call for showing today!
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The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation continues to evolve in-line with the Bank of Canada's forecast while economic activity continues to be underpinned by solid household spending and strong demand from the US economy. 

With the economy seemingly improving and core inflation still holding firm near the Bank's 2 per cent target, policymakers opted to stay the course and allow recent loosening of monetary policy to work its way through the system.  We expect that growth will pick-up in the second half of the year, helped out by an acceleration of the US economy and stable oil prices.  That should translate to no further action by the Bank of Canada in 2015, though recent volatility in global financial markets could prompt a shift in thinking.  


That said, central banks prefer to avoid bringing interest rate close to the so-called zero lower bound. Therefore, in the absence of a major financial or economic shock, the Bank will likely hold rates constant until a healthy and sustainable rate of economic growth resumes. 

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Metro Vancouver* home buyers spent the summer months searching for their next home. Between June and August, home sales were between 25 and 30 per cent above the ten-year sales average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,362 on the Multiple Listing Service® (MLS®) in August 2015. This represents a 21.3 per cent increase compared to the 2,771 sales recorded in August 2014, and a decrease of 15.5 per cent compared to the 3,978 sales in July 2015.


Last month’s sales were 27.9 per cent above the 10-year sales average for the month. “There was no summer lull in our market this year. Home buyers have been working with their REALTORS® throughout the summer months,” Darcy McLeod, REBGV president said. “They’re motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year — that’s the dynamic driving our market right now.”

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,281 in August. This represents an 8.7 per cent increase compared to the 3,940 new listings reported in August 2014. The total number of properties currently listed for sale on the region’s MLS® is 10,897, a 26.2 per cent decline compared to August 2014 and a 5.3 per cent decline compared to July 2015. “Those who have a sound buying strategy and an understanding of current price trends are having the most success in today’s market,” McLeod said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $708,500. This represents a 12 per cent increase compared to August 2014. The sales-to-active-listings ratio in August was 30.9 per cent. This is the sixth consecutive month that this ratio has been above 30 per cent in Metro Vancouver.

 

Sales of detached properties in August 2015 reached 1,290, an increase of 11.4 per cent from the 1,158 detached sales recorded in August 2014, and a 22.6 per cent increase from the 1,052 units sold in August 2013. The benchmark price for a detached property in Metro Vancouver increased 17.5 per cent from August 2014 to $1,159,600.


Sales of apartment properties reached 1,494 in August 2015, an increase of 32.7 per cent compared to the 1,126 sales in August 2014, and an increase of 46.8 per cent compared to the 1,018 sales in August 2013. The benchmark price of an apartment property increased 6.3 per cent from August 2014 to $405,400.


Attached property sales in August 2015 totalled 578, an increase of 18.7 per cent compared to the 487 sales in August 2014, and a 30.2 per cent increase from the 444 attached properties sold in August 2013. The benchmark price of an attached unit increased 7.3 per cent between August 2014 and 2015 to $511,500.


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.

 

  

*Note: 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 1601 15 ROYAL AVE E in New Westminster.
Open House on Sunday, September 6, 2015 2:00 pm - 4:00 pm is CANCELLED. 
Fantastic, 2 bed/2 bath, 898 sq. ft. northwest-corner unit in the Victoria Hill Highrise Residences. Unobstructed, beautiful views of mountains & Queen's Park. This condo has over-height ceilings, eng. hardwood, granite & s/steel finishes.Excellent floor plan w/2nd bed & 2nd bath on opposite corner, great for privacy. Amenities are RESORT-style, incl: o/d pool & hot tub, gym, sauna, party room, billiards room, library & 2 guest suites. Located in Victoria Hill, New West's "park-like" community with lots of trails & greenspace yet with easy access to all of downtown New West's shopping, banks, pubs, restaurants & Skytrain. Rentals & 2 pets allowed. OPEN HOUSE: Sun. Sep 6, 2-4 pm.
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