THURSDAY, JULY 14, 2016
VANCOUVER EASTSIDE
info@rew.ca • 604-435-7977
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R E A L E S TAT E W E E K LY
Pace of Metro Vancouver Home Sale Growth Sees Summer Cool-Off: Board
T
he pace of growth in Greater Vancouver home sales slowed considerably in June, with transactions up only 0.6 per cent compared with the same month last year, and down 7.7 compared with the previous month, the Real Estate Board of Greater Vancouver (REBGV) reported July 5. Despite this, sales were still 28.1 per cent above the 10-year sales average for the month and make last month the highest-selling June on record. “While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” said Dan Morrison, REBGV president.
Sales and Listings Residential property sales in the region totalled 4,400 in June 2016, an increase of 0.6 per cent from the 4,375 sales recorded in June 2015 and a decrease of 7.7 per cent compared to May 2016 when
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4,769 homes sold. So far this year, the market peaked in March, when an all-time high of 5,173 homes were sold in Greater Vancouver. Breaking June’s figures down reveals huge differences between the directions of different property types. There were 1,562 single-family home sales in June, which is a significant decrease of 18.6 per cent from the 1,920 sales recorded in June 2015, and a 16.2 per cent drop compared with May’s 1,865 detached house sales. Townhouse and other attached home transactions told a different story. The total of 730 sales was an increase of 7.2 per cent over the 681 units in June 2015, but a fall of 3.2 per cent compared with May’s 754 townhome sales. Sales of condo-apartment unit continued to outstrip other property types in Metro Vancouver, with 2,108 units changing hands in June 2016, a leap of 18.8 per cent compared with the 1,774 sales in June 2015, albeit a 1.9 per
BC Home Government Demand Scraps in Fraser Real Estate Valley Stays Industry Strong Self-in Regulation June, SalesFollowing Up 21%: Board Report
cent drop from May 2016’s figure of 2,150 sales. New home listings on the Greater Vancouver MLS ® increased by 1.2 per cent year over year to 5,875 homes. However, this was 6.6 per cent lower than May 2016, with fewer sellers listing their homes as the summer months began. This meant that total active listings at the end of June stood at 7,812, 35.9 per cent down year over year. Interestingly, this is a slight rise of 1.1 per cent over the active listings at the end of the month, reflecting the slowing of sales between May and June. The sales-to-active listings ratio for June 2016 stood at 56.3 per cent. Although this strongly indicates the current seller’s market, this is the lowest ratio since February of this year.
Benchmark Prices The combined residential property type benchmark price in Metro Vancouver xx again in June, at $917,800 – a 31 per cent
Changes Main Street ThatNamed Can Make in Top Your 15 Coolest Lender Pull Streets Yourin North America MortgagebyApproval Retail Survey
year-over-year rise. The region’s typical single-family home is now priced at $1,561,500, a hike of 38.7 per cent compared with the same month last year, and once more the steepest price rise of all property types. This was a rise of nearly 3.2 per cent since just the previous month. As usual, this overall figure obscures the vast range of detached home prices between different areas. June’s benchmark price of a townhome or other attached unit in Greater Vancouver increased 28.1 per cent over June 2015 to $656,900, up 3.9 per cent compared with May. Condo-apartment benchmark prices in June rose 25.3 per cent compared with June 2015 to $501,100, a rise of 3.3 per cent compared with May. Home prices vary widely throughout the REBGV region. To get a good idea of home prices in a specific location, check the detailed MLS® Home Price Index in the REBGV full statistics package at www. rebgv.org
Much-Publicized Auction of Editorial: Donʼt Get Excited Burnaby Teardown Fails by $150m Funds for with No BiddersHousing Showing Affordable in Up BC
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
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
Real Estate Investment Think Bob Bracken
CITY HALL MULTIFAMILY BLDG ON BIG LOT KITSILANO NORTH OF 4TH MULTIFAMILY BLDG COMMERCIAL DR STRATA DUPLEX W 4 UNITS
4+ UNITS!
FIRST CLASS!
NEW
6+ UNITS!
LISTING!
4 UNITS!
SIDE BY SIDE!
225 WEST 15TH AVE
3536 WEST 1ST AVE
2670 - 2680 WOODLAND DRIVE
• Edwardian Character Multifamily Bldg, 4361 SF, 4+ Units • Suite Mix: 1X1 Bdrm, 2X1 Bdrm & Den, 2X2 Bdrm • Big 50’X125’ RT-6 Lot, Gr Inc $91,000, Excellent Condition • Investors, Owner-Occupiers, Developers Asking $2,988,000
• Kitsilano, Big 3700 SF Character Multiplex, 33’X122’ RT-8 • 1st Class Loc, Mtn Views, 1 Block to Beach, Double Garage • Gr Inc $113,800/yr, Great Tenants and Suite Mix, 6+ Units • Investors, Owner-Occupiers, Developers Asking $2,998,000
• Commercial Drive, Side-by-Side Strata Duplex w 4 Suites • Each Side has Top Flr 3 Bdrm Unit & Main Flr 2 Bdrm Unit • Total 3568 SF, Gr Inc $79,980/yr, Corner 50’X122’ RT-5 Lot • Investors, Owner-Occupiers ,Developers Asking $2,498,000
MOUNT PLEASANT LEGAL TRIPLEX
MOUNT PLEASANT 3 SUITE HOUSE
REAL ESTATE WITH CASH FLOW
NEW
LEGAL TRIPLEX!
LISTING!
3 UNITS!
SOLD!
628 EAST 12TH AVE
2540 ST CATHERINES STREET
• Big 4 Level, Great Character Legal Triplex, 2728 SF • Suite Mix: 2 lvl 3 Bdrm, 2X1 Bdrm, 33’X122’ RT-5 Lot • Gr Inc $48,000yr, Fenced Yard, High Ceilings, Views • Investors, Owner-Occupiers, Developers Asking $1,398,000
• Great Prime Mount Pleasant 3 Suit House, 2143 SF • 1X4 Bdrm, 2 Level; 1X2 Bdrm, 1X Bachelor Suites • Gr Inc $49,440/yr with Upside, Tenants pay Utilities • Investors, Owner-Occupiers Asking $1,199,000
HOUSES WITH SUITES DUPLEX, TRIPLEX, FOURPLEX 5PLEX, 6+ UNITS APARTMENT BUILDINGS LAND FOR RE-DEVELOPMENT IF YOU ARE THINKING OF SELLING OR BUYING INCOME PROPERTIES CALL BOB BRACKEN 604-263-2823
HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES
LORNE CHERNOCHAN 604.880.0550
www.dexterrealty.com
www.chernochan.com lorne@chernochan.com
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 306-298 E.11TH AVE. $549,900
OPEN SAT/SUN 2-4 SOPHIA
★
North facing view 1 bed and den. 1 parking, great layout & balcony. ED GRAMAUSKAS 604-263-1144
5168 RUBY ST
WATERFRONT VIEW COMMERCIAL AT THE BEACH IN WHITE ROCK $1,950,000 On the Marine Drive beach stroll. The ground floor is fully set up and equipped as a restaurant, but could be retail or liquor primary or…? The second and third floor is living quarters, and the sellers may carry financing. Call or email for the full 14 page information package. Lorne Chernochan 604 880-0550 or email: lorne@chernochan.com Ryan Chernochan 604 818-8517 or email: ryan@chernochan.com
$1,328,800
Taking our Listings Global
2825 E. 43RD AVE $2,380,000
★ OPEN SUN 2-4PM Prime Killarney Area. RS-1 Lot. MLS R2048113 Mateen Qureshi 604-488-9874 104 – 228 E14th Ave
$599,000
OPEN SAT 1-3PM ★ A solid and well maintained home from the 1950's. This home is in very good shape and would make a great starter home or rental investment (suite potential). A large lot size for the area (50ʼx103ʼ). Rezoning in the Joyce / Collingwood area for higher density would make this a good holding property for future redevelopment. Quiet street close to major shopping and transportation. ROBIN HILL & GRACE KREYKENBOHM 604-340-4000 778-998-4523
★
OPEN SAT/SUN 2-4PM HUGE GARDEN PATIO!
• Unbeatable location! • A new life? • A new relationship? • A new baby? • Rarely available! Philip Rogers 604-808-4623
$1,458,000
546 E. 10TH AVE ★OPEN SAT/SUN 2-4PM Brand NEW Mount Pleasant (Eric Stine designed) 4 bed / 2 1/2 bath character home! Beautiful tree lined street, safe, secure & private setting close to transit, great schools, hip and trendy dining, cafes & shopping all within your reach! High ceilings & top of the line fixtures & appliances - in the hip and happening heart of Mount Pleasant - close to EVERYTHING! This modern-classic home will become a place of cherished memories! DAVID YOUNG 604-263-1144
CALL FOR DETAILS
$388,000
SUB-PENTHOUSE WITH AMAZING VIEW! 2 Bedroom with panoramic view of mountains & downtown! HUGE outdoor deck. Secure parking. Great opportunity for first time Buyers or investors (unlimited rentals). Fabulous Collingwood location, just one block from skytrain & shops. 1306-3455 ASCOT PL. LORI PETTIGREW & ALAN YASIN 604-649-7040
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
“Your East Vancouver Real Estate Experts!” NEW LISTING
$1,149,900
Lisa MacIntosh
Diane Kunic-Grandjean
TROUT LAKE & THE DRIVE – FANTASTIC FRONT ½ DUPLEX - 3 BED & 2.5 BATH! Fabulous front 1/2 duplex on a 33x127 lot, a stone throw away from Trout Lake and The Drive! It has it all: 3 spacious bed on the upper floor, including a master bed with large window with North Shore Mountain views, a newly renovated en-suite and 2nd full bath with jetted tub. The main floor offers a unique layout: very airy, spacious living room with substantial ceiling height, gas fireplace and a bay window overlooking the front yard. Sizeable dining area easily welcoming a party of 8, adjacent to a well-appointed U-shaped kitchen with plethora of storage and granite countertops. Separate large pantry-laundry room. Enjoy the front & side gardens which sizes can rival that of a house. New windows throughout, new fence & front stairs. Transit, Restaurants, Fun, Parks all at your doorstep. This is East Van living at its best!
1656 East 13th Avenue
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.
KITSILANO NORTH OF 4TH – ½ DUPLEX SOUTH EAST CORNER LOT – 3 BED, 2.5 BATH 3203 W.3rd Ave.
$1,898,900
Located on the North of 4th, this very spacious front 1771 square foot ½ duplex sits on the South-East corner, offering 3 generous beds, 2.5 baths on 3 levels & is one not to be missed! Relax in the top floor secluded master bed w/ lounge area & large en-suite bathed by natural sunlight coming from numerous skylights & South facing windows. The 2nd floor has 2 more sizeable bedrooms, and a large en-suite. The main floor houses your kitchen w/ eat-in area, a large foyer w/ powder room and an open concept dining-living room opening onto your South facing ample private patio. Beautiful h/w floor in most rooms, closet/storage galore throughout & 1 car detached garage. Bring your house furniture, they will fit! This is Kitsilano living….
HASTINGS SUNRISE RENOVATED SOUTH FACING 1 BEDROOM IN A GREAT BUILDING! 229-2033 TRIUMPH ST.
$319,900
Beautifully renovated 1 bdrm suite in the heart of Hastings Sunrise. This South facing unit is light & bright with a sundrenched South facing balcony. Updated Ikea kitchen and bathroom, laminate floor throughout. Large in-suite storage. Additional storage locker with secured parking. Very well maintained building – fully re-plumbed in 2012, new roof in 2006, healthy contingency fund & depreciation report. Rentals & pets (one dog or cat) allowed. Fabulous location - just down the street to Parallel 49 microbrewery, Red Wagon Restaurant, Donaldʼs Market, only 10 minutes to downtown & short stroll to The Drive.
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!
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
NORM FLOCKHART
PREC
(604) 261-7275
.com
www.
OUTSTANDING AGENT
604-275-9787 patsy@patsyhui.com WESTCOAST
... OUTSTANDING RESULTS
99 Sales so far in 2016!
13 Year Member of MLS Medallion Club OPEN SAT 2-5!
$1,195,000
RECIPIENT OF RE/MAX LUMINARY OF DISTINCTION AWARD
$1,899,000
6-BDRM 2-LEVEL HOME
6688 CULLODEN STREET Lovely 2204 sqʼ BRIGHT & SPACIOUS family home in desirable SOUTH VANCOUVER location. 9ʼ ceiling on main floor. MAPLE FLOORING in living & dining room. MAPLE CABINETS & GRANITE COUNTERTOPS in kitchen. Gas fireplace in living room. TILE ROOF & RADIANT HOT WATER HEATING THRU-OUT. 3 bedrooms, 2 full baths on main. Downstairs has a 1-BEDROOM SUITE & 2-BEDROOM SUITE WITH SEPARATE ENTRANCE. Close to transit & schools. A pleasure to show!
QUIET, NON-THRU STREET! KENSINGTON PLACE! This 1911 family-owned home is functional, but needs updating. 2 BR's & 2 Baths on Main. Outside access to unfinished Bsmt. 33' x 100' view lot w/back lane access. Build up to 2310 sq.ft. Steps to Grays Park; 33rd or Fraser buses. 5009 Somerville Street, Van.
www.normflockhart.com
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
Over 35 years of experience in selling and custom building houses in B.C. 15 years Diamond Master Medallion Club Member, Top 1% President Club Award of All Realtors in Real Estate Board of Greater Vancouver.
BALDEV SANDHU & JULIANA HO TEAM Top New Home Construction Award
Free Market Evaluation. Sell your house fast. Custom build your dream house.
Diamond Master Medallion
BALDEV SANDHU 604-880-9571 www.BaldevSSandhu.com DaveSandhu@royalpacific.com
MASTER
JULIANA HO 778-869-9688
ROYAL PACIFIC
www.JulianaHo.com Juliiho@gmail.com
R E A LT Y
Vancouver East, Collingwood
Vancouver East, Collingwood
Vancouver East, Victoria
Side by Side Duplex, 2 storey w/bsmt under construction
SxS Duplex, 2-storey with basement under construction
Presale, Build to Suit - 3 storeys plus LWH
2359 East 41 Avenue
5508 Dundee Street and 5502 Dundee Street
$1,228,000 - A south facing S x S 1/2 duplex,
NEW LISTING
3-storey, spacious 1975 sf with finest built - 5 bdrms, living room, family room & kitchens
OPEN HOUSE SUNDAY 2-4 PM
NEW LISTING
- Granite countertop, hardwood floor, maple wood kitchen cabinets - Radiant heat & HRV system, high efficiency heating system, garage
5508 $1,263,000
2073 East 27th Avenue
- A quality built 2000 sf duplex under construction - 3 bedrooms above, living room, dinning room, kitchen, 2 bedroom suite in basement - 3.5 bathrooms, granite countertop, maple wood cabinets, hardwood floor, HRV system, inter-telecom 5502 $1,299,000 Single garage
$2,250,000 - A fabulous South facing in Victoria
NEW LISTING
area - Total area 3250 sf on lot size 33 x 118.50 - 2 storey with basement plus LWH - Granite counter top, maple wood cabinets - Radiant heat, HRV and security system - Buyer to provide own plan & choice are welcome
Vancouver East, Grandview
Vancouver East, Collingwood
Vancouver East, Collingwood
Front & Back 1/2 Duplex
Duplex lot for sale
Single family in 2 storeys
2118 Graveley Street
5651 Earles St Vancouver
$1,310,000 A brand new ½ duplex, is almost finished at a desirable area of Grandview neighbourhood. This 2-storey, 1206 sf unit with detail finishing and mordern design; living area, dining area, kitchen, 3 bedrooms at above, 2.5 bathroom, granite counter top, single garage.
NEW LISTING
5512 Dundee Street
$3,200,000 Builder or investor alert! A duplex lot, RT11 zoning, lot size 60 x 117 ft, ready to build 4 duplex each 1500 sf, building plan already submit to the City for approval. Existing is an very beautiful 10 years new house. Good to keep and build later. Don’t miss!
NEW LISTING
$950,000
- First time buyer alert! strata fee
No
- A single family infill in 2 storeys, - 1330 sf living area features 3 bedrooms, 2.5 bathroom, kitchen, living room - Open parking - Don’t miss!
SSusan Ninow
604-909-0111 www.SusanNinow.com Susan@SusanNinow.com
Personal Real Estate Corporation
TOP 1% of Royal LePage National Network of Realtors
Westside 201-2107 West 40th Ave.
OPEN SAT 2-4!
MASTER 6 Years
NEW LISTING!
Modern Vancouver Special! 4775 Victoria Drive $1,498,000 Kensington-Cedar Cottage ONE-OWNER family home! Featuring exceptional living space with over 2350 SF of comfort on 2 levels! Fabulous space for your extended family with 5 BD, 4 BATH. Potential for 2 mortgage helpers. Boasting toasty radiant heated floors & 9 Foot high ceilings. Bonus-DOUBLE HEIGHT Attached Garage for all the Car Guys! Ready for you to move in! Just steps to shopping and Vancouver's 2nd Chinatown in this new up & coming Victoria Drive Neighbourhood! Steps to transit, restaurants, groceries and banks! Be anywhere in 10-15 min! View www.SusanNinow.com/402. Call Susan for your private viewing!
“Results through Experience and Integrity”
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
ALLAN LAL cell: res:
604.861.8819 604.439.2019
allanlal@yahoo.ca
1559 E.20th Avenue
7505 Victoria Drive Vancouver V5P3Z6 (604) 322-3272
$1,768,000
Open House Saturday July 16th 12:30-2:30pm Sunday July 17th 3-5pm Character Retention home with modern sleek kitchen that opens to large dining area with large north facing deck. Feature slate gas fireplace centres the living area lit by a stunning picture triple, new window, overlooking the landscaped garden and tree lined street. Clear fir windows & doors showcase this bright & extremely quiet home. Character bathroom & beautifully appointed modern ensuite. Separate entrance to spacious rec room. One of 5 unique units in this strata. 2,063 SF home.
west coast realty
604.714.1700
J UST LISTED 8044 16TH AVE., BURNABY $1,968,000 5 year old custom design. 3 bedroom upper floor, kitchen f/r, Chinese wok kitchen, 9 ft ceiling, gas f/p, radiant heat, expensive light fixtures, covered sundeck, 2 jacuzzi tubs, 2 attached & 2 detached garages, 2 bedroom ensuite, plus 1 bedroom suite, for owner’s use. Gated compound 47x138 lot with lane access, 1 block to elementary school, high school nearby, 3 blocks to Robert Burnaby Park, 1 block to public transportation, shopping nearby. Call Allan Lal 604-861-8819
Welcome Home
A Real Estate Tradition
HANS & JOHN GUST www.gustrealtor.com
Hans
604-263-8800 Westside
John
PHOTOS AND FLOOR PLANS AT WWW.GUSTREALTOR.COM $2,089,000
Only available until September 30**
*Some conditions apply. The Annual Percentage Rate (APR) is for a mortgage of $100,000 with monthly payments and a 25-year amortization, assuming no fees apply. If fees and/or charges apply, the total Cost of Credit and APR would increase. This promotion is subject to member(s) being approved by Prospera Credit Union’s lending guidelines. Limited time offer. **Mortgage must be approved by September 30, 2016 to qualify. Offer and rate may be changed, extended, or withdrawn at any time without notice. Available O.A.C.†Prospera will reimburse up to a maximum of $1,000 the discharge fee charged by the member’s current financial institution and/or any new legal and appraisal fees. For full details on the myStyle mortgage and Prospera Perks, please visit www.prospera.ca, talk to us at a branch or call 1.888.440.4480.
4147 PRINCE ALBERT European Builder's Own Home Custom built 2003. Top Quality built home. Prime Fraser/Main location. Total 3 suites. Over 3000 sq.ft. 9' ceilings on main, crown mouldings, wainscotting, huge front covered porch to enjoy this wonderful neighbourhood. Call to view. Hans Gust 604-551-3900 John Gust 604-263-8800
Royal LePage Westside - 2107 West 40th Ave., Vancouver, B.C. V6M 1W4
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U LY 14, 2 0 1 6
% 65 ! LD SO
Artist’s Rendering - Mahogany Plan B-2
VANCOUVER LUXURY. ABBOTSFORD PRICES. FROM THE HIGH $200’S MAHOGANY, A SPECTACULAR NEW COLLECTION OF LUXURY HOMES. WITH 26 STOREYS OF CONCRETE CONSTRUCTION, GENEROUS AMENITIES AND INCREDIBLE VIEWS OVERLOOKING BEAUTIFUL MILL LAKE, MAHOGANY IS TRULY THE NEW HEIGHT OF LIVING. TO LIVE HERE IS TO LIVE WELL. Presentation Centre is open daily (except Fridays) from 12 - 5 pm 2180 Gladwin Road, Abbotsford
LIVINGMAHOGANY.COM 778.255.9990 Artist’s Rendering - Mahogany at Mill Lake
Marketed by GLOBEWEST - Multiple Realty Ltd. and Quantum Realty Inc. Managed by the Quantum Properties Group of Companies. This is not an offering for sale. Any such offering may only be made by disclosure statement. The developer reserves the right to modify plans, prices, features and specifications without notice as may be necessary and at their sole discretion. E. & O. E.
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VANCOUVER EASTSIDE
THURSDAY, JULY 14, 2016
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
BC’s New Home Building Investment Smashes Previous Record: StatCan
N
ew housing investment in BC rose to a record high of more than $945 million in April 2016 – a jump of 28.3 per cent over the $736 million spent in April 2015, and a lift of 15 per cent over the previous month, according to Statistics Canada. The figure smashes the record set in October last year of $874 million, and bodes well for construction in 2016. The new housing investment trend cycle has historically been relatively low in spring compared with late summer and fall months, so this record is likely to be broken again several times this year and could breach the $1 billion mark for the first time. Detached houses in the province received the largest chunk of investment, having reemerged as BC’s home type seeing the highest total spending
the previous month, this time rising 17.3 per cent year over year to more than $430 million. This was an increase of 13.1 per cent over the month before. Spending on new condoapartment buildings, which until recently had seen the most investment, was the next highest in April at $402 million. However, this housing type once again recorded by far the sharpest year-over-year increase, a leap of nearly 49 per cent over April 2015, and a month-overmonth rise of 17.7 per cent over March. Statistics Canada said in its report, “Higher investment in apartment and condominium buildings contributed the most to the gain [in BC], followed by single-family dwellings and row houses.”
Townhouse and row home construction investment in the province continued its rise from a lower base figure, up 25.6 per cent year over year to nearly $86 million in April. This was also a rise of 14 per cent compared with March 2016. Investment in BC duplexes continued to wane, dropping in April by 13.7 per cent compared with the same month a year ago, to total less than $27 million, although this was a strong improvement of 11.6 per cent over March this year.
National Picture The $945 million total investment in new housing in the province meant BC held onto its place as the second-largest-investing province, once again easily outpaced by Ontario, which spent
more than $1.67 billion on new home construction in April. BC’s 28.3 per cent annual increase was also the second-steepest increase in housing investment in April, unsurprisingly beaten only by Ontario, at 32.7 per cent year-over-year growth. Resource-dependent provinces continued to post weak year-over-year figures in April, with Alberta (-28 per cent), Saskatchewan (-24.6 per cent), Newfoundland and Labrador (-14 per cent) and Manitoba (-7 per cent) all spending considerably less on new home construction than in the same month last year. Nationwide, new home construction again increased more steadily, by 8.4 per cent year over year to a total of nearly $4.25 billion in April. However this equates to an uncharacteristically steep month-over-month rise of 10.4 per cent compared
with March. Reflecting the trends in BC, total Canadian condo construction investment saw the steepest growth in April, up nearly 21 per cent year over year to $1.53 billion across the country. Investment in townhomes and row homes rose 14.2 per cent compared with the previous April. Single-family homes were the nation’s most popular new housing type, with detached construction investment across Canada totalling nearly $2.1 billion in April, although this was only a 2.1 per cent rise year over year. Duplex construction in Canada again followed the pattern seen in BC, as April posted an annual drop of 14.7 per cent in investment in this housing type, totalling $194 million across the entire country.
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