Burnaby Now June 7 2017

Page 1

NEWS 3

Tenant fights smudging eviction

COMMUNITY 5

PADS opens its doors

ARTS 11

Exploring the power of memory FOR THE BEST LOCAL

COVERAGE WEDNESDAY JUNE 7, 2017

LOCAL NEWS – LOCAL MATTERS

GO TO PAGE 23

There’s more at Burnabynow.com

SHOWING THEIR CANADIAN COLOURS:

Small visitors dressed in their best patriotic colours were among those enjoying the Hats Off Day festivities in the Heights on Saturday. The June 3 festival, on the theme of The Great Canadian Outdoors, included the annual parade and showand-shine, as well as entertainment along the street. An estimated 60,000 people turned out for the event. For more photos of this year’s fun, see page 4 and check out a gallery on our website at www. burnabynow.com. PHOTO JENNIFER GAUTHIER

BURNABY REAL ESTATE

Demand for condos, townhouses up Report:Townhouse sales in Burnaby jumped 56 per cent between April and May of this year By Tereza Verenca

tverenca@burnabynow.com

It’s a good time to own an apartment or townhouse – that is, if you’re looking to sell. Metro Vancouver’s real estate market was driven by a high demand for condo-

miniums and townhomes last month – and Burnaby was no exception, according to a report released by the Real Estate Board of Greater Vancouver (REBGV). The data shows there were 333 apartment listings in Burnaby in May, up from April’s 271.There were 141

Order Take-Out.

townhomes listed, compared to April’s 118, and 257 detached homes on the market, an increase from 187 the previous month. Townhomes saw the highest number of sales in May, with a 56 per cent increase over the previous month, followed by apartments,

with a 16 per cent increase. Detached home sales saw an 11.5 per cent spike. The real estate board also tracks what’s known as a sales-to-active listings ratio, the rate at which properties are selling. “Analysts say anywhere where a sales-to-active list-

ings ratio surpasses 20 per cent, it’s then a sellers’ market,” says Jill Oudil, REBGV’s president. “Our salesto-active listings ratio right now for condominiums in Burnaby is 95.5 per cent, which is extraordinarily high. ...Townhomes is very high as well; it’s 84.8 per

cent, and detached is 25.5 per cent, so you can see the drastic difference there.” A combination of factors have led to condos and townhomes fuelling the market, adds Oudil. “A lot of buyers, instead of trying to make that next Continued on page 9

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