Time to get away: summer is here and it’s time to think about the Resort & Recreation opportunities in B.C. ›› p.4
July 8, 2010
Stable summer housing market locally Activity in the Metro Vancouver housing market has started out steady for the summer, reports the Real Estate Board of Greater Vancouver. Residential property sales in the region totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second-highest selling June on record. But REBGV president Jake Moldowan says the steady activity seen in June makes “a healthy balance between the near-recordsetting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know.” Compared to June 2008, last month’s sales represent a 22.6 per cent increase over the 2,425 sales recorded that month, but represent a 5.8 per cent decline compared to the previous month’s sales totals. “We didn’t experience any record-breaking activity in June, but we did see a stable summer market,” Moldowan says. “The number of new Jake Moldowan listings coming on the market is not as dramatic as we saw over the previous three months and demand remains at a healthy level for this traditionally quieter time of year.” New listings for detached, attached and apartment properties totalled 5,544 in June 2010, a 3.2 per cent increase compared to June 2009 when 5,372 new units were listed, and a 21 per cent decline compared to May 2010 when 7,014 properties were added to the MLS. At 17,564, the total number of property listings on the industry’s listing service increased 1.2 per cent in June compared to last month, and is up 32 per cent compared to this time last year. “There has been less upward pressure CONTINUED ON P.2
Century Gate Construction & Management Inc. president Nick Vidovic in a South Granville dining room featuring white oak paneling and cabinetry. Clients with budgets for luxury homes keep him busy in Metro Vancouver. Rob Newell photo
High-end homes are hot Homebuyers with unlimited budgets aren’t holding back MAGGIE CALLOWAY After working hard for many years, homeowners often come to the point where they want to enjoy the fruits of their labour – so they invest in a special home for the entire family and perhaps, for generations of family
to come. Deciding to build rather than buy a custom, high-end home requires a major commitment of time, not just for the actual building, but for the pre-planning as well. The right site must be found. The right architect must be sourced – someone who understands the homeowner’s dreams as well as their needs. The actual builder is critical, of course for the quality of work, but also for sourcing materials from around the world and for the
careful selection of the many specialists and craftsmen needed throughout the building process. Glen Jaheny, president of Jaheny Custom Builders Ltd., builds new residences predominantly in White Rock and South Surrey and says working with clients with a large budget can make it easier to build highquality homes. CONTINUED ON P.2