THURSDAY, JANUARY 26, 2017
VANCOUVER EASTSIDE
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BC and Canada Smash Records for Home Sales and Prices in 2016 L ast year was a record 12 months for real estate sales across the province, despite a slow second half in the Greater Vancouver area preventing that region from breaking its own sales record, according to British Columbia Real Estate Association (BCREA) statistics released January 13. A new high of 112,209 homes were sold in BC in 2016, up 9.5 per cent from 2015. The average sale price also set a new record, up 8.6 per cent year over year to $691,144. This combination of record sales and prices inevitably created a major boost to sales dollar volume, with a record-breaking total of $77.6 billion spent on residential BC real estate in 2016, a jump of 18.8 per cent over 2015’s record. “Broad-based consumer demand driven by strong economic conditions, employment growth, consumer confidence, and an expanding population base pushed home sales to record levels in many BC regions
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last year,” said Cameron Muir, BCREA’s chief economist. “However, home sales have fallen back from their lofty peaks early last year.” Indeed, December home sales across BC fell 28.4 per cent year-over-year to 4,721 units – a seasonal drop of 26.5 per cent month over month. Total sales dollar volume was $3.1 billion last month, a fall of 33.1 per cent compared with the same month the previous year. The average BC MLS® residential price in December was $654,699, which is a 6.6 per cent drop from December 2015 but a rise of 4.6 per cent compared with November 2016, as sale prices across the province continued their recovery since August’s dip. In terms of individual real estate boards across BC, the strongest performers in December were Kootenay, Kamloops and Okanagan Mainline, which all saw yearover-year increases in home sales and average prices, while Greater Vancouver saw the biggest annual sales decline.
Condo Prices “Can’t Not Go Up” in 2017: Local Agent
National Picture Across the whole country, it was a similar story, according to figures released January 16 by the Canadian Real Estate Association (CREA). Canadian home sales for the whole of 2016 hit a new record of 536,118 units, increasing by 6.3 per cent compared with 2015. The CREA said that is was driven by strong sales activity in the first half of the year that has “softened” since. “Sales set a new annual record last year,” said Cliff Iverson, CREA president. “However, tightened mortgage regulations are expected to contribute to lower sales activity this year, though the extent to which they will weigh on housing markets across Canada will vary.” The average sale price in Canada in 2016 was $490,495, a rise of 10.7 per cent compared with 2015’s average price. Total residential resale dollar volume in Canada last year was just shy of $263
Ever Guessed How Much the White House is Worth?
billion, up 17.7 per cent from 2015. Actual home sales in December 2016 across the country totalled 25,865 units, a five per cent drop year over year but a rise of 2.2 per cent compared with the weak nationwide sales of November 2016. In December, the Canadian average home sale price was $470,661, up 3.5 per cent year over year – but the MLS® Home Price Index rose 14.2 per cent on an annual basis to $582,000. The CREA hinted that it expected to see fewer home sales across the country this year. Gregory Klump, CREA’s chief economist, said, “Home sales are unlikely to benefit the Canadian economy as much in 2017 as they did in 2016. New regulations mean that in order to qualify for a mortgage, home buyers will either have to save longer for a bigger down payment or purchase a lower priced home. In urban centres where the latter are in short supply, that’s likely to translate into fewer sales.”
CMHC Insurance Premiums Increasing in March
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www.dexterrealty.com
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 1806-111 E. 1ST AVE.
$1,950,000
Taking our Listings Global
3 BDRM WITH PRIVATE ROOFTOP TERRACE Brand new 3 bed Penthouse in the heart of Vancouver with exquisite views of downtown and the North Shore mountains. Steps from Olympic Village and right on the seawall to Downtown. Top of the line finishings. Extremely rare opportunity. Donʼt miss this gem of a home! 1806-111 E.1ST AVE. Lisa Findlay 778-378-8090
205 - 688 E. 17TH AVE.
$599,000
dexter pm PROPERTY MANAGEMENT | A DIVISION OF DEXTER ASSOCIATES REALTY
FREE RENTAL RATE ASSESSMENT
778.996.1514 | www.dexterpm.ca
MINUTES FROM DOWNTOWN! Like new, spacious 929 square foot 2 bedroom, 2 bathroom suite. Large master suite with walk-through custom closet. Large den that could be used as a 3rd bedroom. Granite counter tops, stainless appliances, maple cabinets. Kevin Banno 604-300-3165
403-1188 QUEBEC ST.
$1,248,000
IN PRINT AND ONLINE Your go-to source for the latest Lower Mainland listings, news and advice
RARE 3 BDRM & DEN Fantastic City Gate 1 built by Bosa. This is a rarely available 3 bedroom & den West facing unit with views of Science World, city skyline and the False Creek sunset. 1743 feet of living space with a large open plan kitchen, dining and main living room area. The bedrooms are a generous size and there is a huge 13 x 8 en-suite laundry storage area. There is a rooftop patio, gym, indoor pool and recreation facility. 2 parking spots and 1 locker and bike parking area. Amazing location close to skytrain, Olympic Village, restaurants and walks on the seawall. Currently tenanted. Please allow 24-48 hours for showings. Tom Jones 604-722-1316
CARLA CRAIG NATALIE TAYLOR ANDREA KAVANAGH AMANDA CROSBY
team@thekavanaghgroup.com
Select Properties Independently Owned and Operated OPEN SAT 2-4
*Personal Real Estate Corporation $2,398,000
$4,698,000
MACKENZIE HEIGHTS LOT 4355 SQFT, AREA 2615 SQFT, 5 BED 3 BATH CHARMING 5-BEDROOM FAMILY HOME ON 33.5'X130' CORNER LOT 3205 WEST 33RD AVENUE
POINT GREY LOT 4880 SQFT, AREA 2946 SQFT, 4 BED 4 BATH 40' CORNER LOT WITH SPECTACULAR VIEWS OF WATER, CITY & MOUNTAINS 3905 WEST 12TH AVENUE
NEW
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*PREC *PREC *PREC *PREC
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$1,198,000
3 BDRM + DEN HOME WITH BREATHTAKING CITY & MOUNTAIN VIEWS 1001 WEST 8TH AVENUE
$1,075,000
CHARMING 2 BEDROOM KITS TOWNHOUSE 2456 WEST 6TH AVENUE
$3,398,000
PRIME KITSILANO 50X110 CORNER LOT WITH RT-8 ZONING 2497 WEST 7TH AVENUE
$799,000
LOFT PENTHOUSE AT THE MARQUEE 405-2250 COMMERCIAL DRIVE
⾙毺哸㽱 604-737-8865 ⅾ睛淕 team@TheKavanaghGroup.com ༷즴
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“Your East Vancouver Real Estate Experts!” 525-527 MALKIN AVE.
$1,875,000
GREAT LOCATION CALLS FOR GREAT OPPORTUNITY!
TROUT LAKE - WESTCOAST MODERN SOUTH FACING 1/2 DUPLEX 3 BED - 2.5 BATHS $1,125,000
A Westcoast flair & unusual layout, this South facing modern 1/2 duplex provides a well laid-out floorplan offering a very generous living room w/ fireplace & family area, a dining room able to host numerous guests, adjacent to a wonderfully appointed kitchen w/ custom cupboards, stainless appliances & granite countertops. Powder room and laundry also on the main. The top floor won't disappoint: 3 bed & 2 bath, of unusually ample size-especially the master bedroom & its ensuite! Fantastic amount of natural light, in-floor radiant heat, storage galore & a powder room on the main floor. BONUS: detached garage turned into a storage & office space! Enjoy a covered porch, large front garden & a short walk to Trout Lake & its Farmer's market. Just steps to the "Drive" and all it has to offer.
UPPER LONSDALE MILLION DOLLAR VIEW AT A THIRD OF THE PRICE 320-3080 LONSDALE AVE.
Diane Kunic-Grandjean
Calling all builders, Developers and forward thinkers alike! Nestled in a fantastic little pocket between Strathcona and The Drive are two RT-3 irregular lots forming a whopping 5,865 square feet! Facing South-West, these lots offer open views all the way to City Gate to the West and Terminal Avenue to the South. Across the street lays Trillium Park with its turf fields, playground and dog park. Further West will see the potential relocation of St Paul's Hospital. A truly unique opportunity in an ever growing neighbourhood! RT-3 zoning with potential of 3 dwellings. Build two 1/2 duplexes & an infill house, all 3 could potentially be stratified and sold separately (to be confirmed by Buyer with City of Vancouver). Drive-by first, then call us!
NEW LISTING
1785 E.14TH AVE.
Lisa MacIntosh
3•
$299,000
1 bed, top floor, West facing property in Upper Lonsdale 1 bath – 756 sq.ft. + 80 sq.ft. of covered balcony! When was the last time you stepped into a 836 sq.ft. (incl. balcony) 1 bed top floor West facing property in Upper Lonsdale! Enjoy cooking in your fully renovated modern kitchen w/ it’s unique pantry, while entertaining your guests in the adjacent extremely spacious dining room. Cozy up on your full-size sectional in the living room while taking in the views through big sliding doors letting in lots of natural light. A King size bed will easily fit your spacious bedroom w/ its very own walk-in closet! 80 sq.ft. balcony to BBQ away! Laundry on each floor and yours is across your hallway, including supplementary storage. Lots of in-suite storage, storage locker, one parking. 1 cat or dog allowed. Very well maintained bldg. with easy access to the fun that North Van has to offer. Bring your house-sized furniture, art for the expansive amount of wall space, and your fake tree as you well may be home for Christmas!
HASTINGS SUNRISE UNIQUE 1914 CRAFTSMAN BUNGALOW IN SUPERB CONDITION 2733 FRANKLIN ST.
$1,699,000
What a beauty! Welcome to this 1914 Craftsman Bungalow Heritage "B" lovingly & patiently restored to its current glory! The large foyer gives the tone w/its beautiful wainscoting, 9'4" ceiling height & hwd flooring. Cozy up by the fireplace in your comfortable lvg rm drenched by natural light, host your loved ones in the adjacent large dng room while marvelling at the Tudor ceiling & superb built-in dresser. The 3 sizeable bed & charming 1,5 bath w/claw foot tub will house your family for a very long time. Airy modern kitchen & eat-in area from which to access a lush fenced backyard & detached garage. The bsmt offers 2 bed suite & a large separate area which could be a rec/family room for you. A unique gem in beloved Hastings Sunrise!
1925 CRAFTSMAN BEAUTY IN THE HEART OF KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 3444 W. 5TH AVE.
$2,950,000
Sitting across from McBride Park in the heart of Kitsilano, this 1925 Craftsman offers yesterday's cachet with today's comfort. Beautifully restored character home with all of the original Fir trim work lovingly refinished. The foyer's wainscoting sets the tone for the main floor: a spacious front reading room/den, a large living room with fireplace opening onto a dining room designed for entertaining. In the mood for a BBQ? Open your French doors and step onto your gigantic South facing deck! Upstairs offers 3 sizeable bdrms, the front bdrm has a unique attached crafts room. BONUS-a full height basement with a self-contained 1 bdrm suite (done with permits) with its own south facing patio. The front & back gardens are enjoyed from every window, creating an Urban Oasis on this 46x120 lot.
L i s a M a c I n t o s h Te a m - D e x t e r A s s o c i a t e s R e a l t y Medallion Club - Top 10% of Realtors in Greater Vancouver Photos & Visual Tours at: www.lisamacintosh.com Email: lisa@lisamacintosh.com Tel: 604-263-1144
Bob Bracken
Real Estate Services Each office independently owned and operated.
410-650 W 41ST Avenue, Vancouver, BC V5Z 2M9
604.263.2823
bobbracken.com bob@bobbracken.com
HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES
COMMERCIAL DRIVE BIG INCOME PROPERTY REAL ESTATE WITH CASH FLOW - CALL BOB COMMERCIAL DRIVE BIG CASH MACHINE HOUSES WITH SUITES 6 5+ SOLD SOLD DUPLEX, TRIPLEX, FOURPLEX UNITS UNITS 5PLEX, 6+ UNITS APARTMENT BUILDINGS LAND FOR RE-DEVELOPMENT IF YOU ARE THINKING OF 1727 GRANT STREET 1862 VENABLES STREET SELLING OR BUYING • Big 4 lvl Renovated Char Revenue Building, 4615 SF, Gr Inc $102,540/yr • Cash Machine, 3910 SF Multifamily Bldg, 5+ Units, Gr Inc $71,220/yr INCOME PROPERTIES • 6 Suites, 6 Parking, larger 36’X121’ RT-5 Corner Lot, Great Cap Rate 4% • 4 levels, Creative Financing, near “The Drive”, 33’X122’ RT-5 w lane • Investors, Owner-Occupiers, Shared Ownership Asking $2,198,000 • Investors, Owner-Occupiers, Developers Asking $1,650,000 CALL BOB BRACKEN 604-263-2823
Real Estate Investment Think Bob Bracken
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OPEN HOUSE JANUARY 28TH/29TH SATURDAY & SUNDAY 2-4PM NEW LISTING!
$425,000
#302-1352 WEST 10TH AVENUE
Incredible top floor corner large 1 Bedroom + Den (easily 2nd bedroom) FULLY RENOVATED in popular Tell Manor RAINSCREENED BUILDING! All the boxes are checked on this executive home. Enjoy recent renos including: new kitchen (with granite counters, full stainless appliance package, cabinets) insuite washer/dryer, new bathroom (heated floors, vanity, fixtures), lots of custom millwork throughout, etc. etc. Oh! and don’t forget the generous outdoor balcony w/MOUNTAIN VIEWS for those lazy summer day barbeques. Walk to all your favourite Granville Heights stores, Granville Island, and minutes to downtown from this quiet street. Practical pluses include: secure underground parking (#16), additional storage locker (#15), the snap/crackle of a wood burning fireplace, and a bright open floor plan! Maint fees: $353/mo. Building is cat friendly but sorry no rentals. View photos online and join us for our open houses Sat/Sun Jan 28/29th (2-4pm).
OPEN HOUSE JANUARY 28TH/29TH SATURDAY & SUNDAY 12-2PM NEW LISTING!
$528,000
#2009-111 W. W. G GEORGIA STREET
Beautiful 655 sf VIEW UNIT 1 Bedroom + Den + Solarium! Don’t miss viewing this perfect condo in Vancouver’s sought after Spectrum 1 Concord Development. Excellent plan with generous room sizes and efficient layout. Views to False Creek with eastern exposure. Unit comes with secure underground parking stall (#229), and insuite laundry. Building is fully loaded with indoor pool, gym, Jacuzzi, 24 hour Concierge, even a steam and yoga room! Maintenance fees only $296/mo. Walk to all downtown has to offer: restaurants, the game, theatres, seawall, Costco, Tinseltown, T&T, Library, Skytrain, etc. It’s all within walking distance of your new home. View photos online and join us for the open houses Sat/Sun Jan 28/29th 12noon-2pm.
$1,198,000
OPEN HOUSE JAN 28TH/29TH SAT & SUN 2-4PM $674,800
2787 WEST 5TH AVENUE Fabulous 1518 sf 3-bedroom, 3-bathroom homee in perfect 3-unit development in the heart of Kits. This threelevel home has a 2-piece powder on main, 2 bedrooms and seco second bathroom on 2nd level, and giant open den on 3rd level (noted as 3rd bedroom in MLS). Third level opens up to rooftop deck with great views and also a large ground level deck on main floor as well. Unit comes complete with gas fireplace, 2 parking (one LCP carport and second open stall as unregistered assignment to this SL). Enjoy over height ceilings with lots of light, built in vacuum, your own HWT, pantry/laundry room, etc. All of this for an incredible sub $1.2M price tag! Walk to Kits Beach and 4th Ave/Broadway shopping, cafés, and boutique shops. Close to UBC Express 44 and 48 buses. If you have always wanted to buy a family home in Kits at an affordable price, your day has come.
$2,285,000
$3,380,000
#1005-811 HELMCKEN STREET FULLY RENOVATED fabulous northwest facing corner 2 bedroom, 2 bathroom executive condo with BALCONY! This home is ALL NEW with brand new bathrooms (fixtures, Italian 24x24 marble, etc.), completely rebuilt kitchen (new cabinets, quartz counter, appliances, lighting/flooring), all new flooring in suite and fully painted. This beautiful home is ready to move into and enjoy, it’s all been done! This CONCRETE Building has gym, games room, and terraced garden located above Starbucks and blocks to water, restaurants, theatre district and all Vancouver has to offer. Strata allow 2 pets with limited rentals at max. Comes with one underground parking stall (#217 on P2) and additional storage locker.
COMPLETELY RENOVATED HOME from top to bottom! Fabulous single family home with mortgage helper sitting on south-facing backyard 33x130 RS5 lot. Nothing to do here but move in and enjoy your new home (plus revenue stream). 2014 Reno includes completely gutted and rebuilt main floor: new insulation, new kitchen, new appliances, all new bathrooms, new flooring, new lighting, fixtures and upgraded electrical and plumbing. Separate washer/dryer up and down. Basement has all new bathrooms, lighting, appliances, w/d, new high efficiency furnace. Practical pluses include: 2 fireplaces (gas/wood), giant in-building 2 car garage. Exterior painted, and new private main floor south-facing deck for entertaining. It’s all been done here! Current rents are amazing $3900/mo. on main, and $2700/mo. down.
$2,980,000
$2,388,000
SOLD
SOLD
SOLD
5951 BLENHEIM STREET
3642 WEST 2ND AVENUE
3549 WEST 33RD AVENUE
Congratula ons Heather and John on a successful sale of your home!
$2,988,000
SOLD 180 WEST 61ST AVENUE
$3,680,000
SOLD 3276 WEST 21ST AVENUE
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*Based on 65% financing, 2.35% interest rate (current 5 year fixed rate) and 30 year amortization period. Limited time offer only applies to select units. Savings up to $22,000. This is not an offering for sale. Any such offering for sale can only be made with the applicable disclosure statements. E&OE
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VANCOUVER EASTSIDE
THURSDAY, JANUARY 26, 2017
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Vancouver Sets Record Year for New Housing Starts in 2016: CMHC
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ew home construction starts saw a seasonal decline in December, but 2016 overall was a record year for housing starts, according to figures released by the Canada Mortgage and Housing Corporation (CMHC) earlier this month. Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 25,980 units in December compared with 27,455 units in November, said the CMHC. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “Total housing starts trended lower in December, but were in line with the monthly average for 2016,” said Robyn Adamache, CMHC’s principal market analyst for Vancouver. “Starts in 2016 set a new record for the region that was bolstered by strong rental construction in the cities of Vancouver, New Westminster and Surrey.” Housing starts in the Abbotsford-Mission CMA in December were trending at 889 units, down from 970 units in November. The CMHC noted that this downward trend
was spread evenly across all home types. Nationwide, the housing starts trend measure across Canada was 198,053 units in December, slightly down from 200,105 units in November, reported the CMHC. The housing agency noted that Canada still counted more home starts in 2016 than 2015, with increased demand for single-family homes more than offsetting a national decline in multi-unit construction – “a decline that’s in response to efforts to manage current inventories,” added the report. CMHC uses six-month moving averages to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, said the CMHC, analyzing only the monthly seasonally adjusted data can be misleading in some markets, as they can be variable from one month to the next. Building Permits Metro Vancouver’s building permit values bucked the national trend by surging ahead in November, according to
Statistics Canada data, also released in mid-January. The Vancouver CMA issued $709 million worth of new home construction permits in November, said the federal statistics agency – a jump of nearly 40 per cent over an already-strong October, and more than 30 per cent higher than November 2015. The month-over-month rise was led by another slew of permits issued for new condo-apartment buildings, for which there were more than $503 million of permits issued in November, a 71 per cent leap over October’s values and up 41 per cent compared with the same month the previous year. The condo permit value was more than three times that of detached-house permits issued in November, which stood at $146 million. This was still a rise of nearly 12 per cent year over year and 20.3 per cent month over month. However, Vancouver’s townhouse and row home permit values saw a weaker month after a strong showing in October, dropping nearly 39 per cent in November to $52.2 million. This was still a slight year-
over-year rise of 1.1 per cent. Values of new duplex construction permits, which are highly fluctuating as they are a much smaller segment of the market, increased again in November to $3.4 million, up 49.3 per cent year over year and 28.6 per cent since September. The same trend was reflected across the province as a whole, with $962.7 million of home building permits issued in November. This is a rise of 34.2 per cent from the same month last year and 21.4 per cent compared with October. Across the country, however, building permit values slid in November after a record-breaking October, with the $4.4 billion total value a drop of 23.1 per cent month over month. The gains seen in BC and Quebec were not enough to offset monthly declines in nine provinces and territories, including Ontario (-12.1 per cent) and Alberta (-74 per cent). Despite this, the national total for November was still a 33 per cent rise over the value of permits issued in November 2015, with only Alberta reporting a year-over-year decline.
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