Dr Sam Mehrbod’s Blog

The provincial multiplex legislation in B.C. challenges single-family zoning, aiming to address the housing shortage. Vancouver's own multiplex policy falls short of provincial standards, potentially hindering the creation of new homes. Municipalities must update zoning bylaws, but the provincial standards are not strictly binding, raising concerns about the effectiveness of the legislation. Continue to full…

Vancouver experienced a strong sales surge at the beginning of the year, with a 12% increase in home sales compared to the previous month. Single-family dwellings saw significant growth, with 1,427 homes sold. New listings rose by 14%, but inventory also increased by 9.8%. Affordability remains a concern, and the MLS House Price Index showed…

Metro Vancouver's rental prices have increased for the second time in 2024. The average monthly rate for newly-listed one-bedroom, unfurnished units is now $2,379. North Vancouver is the most expensive city to rent in Canada, with units averaging $2,802 a month. Langley is the cheapest city to rent in, with prices averaging $1,859. Continue to…

In Vancouver, the housing market shows signs of recovery with increased interest in semi-detached homes. A recent sale on Dunbar Street, with 27 offers, highlights the area's desirability. The market's rebound is attributed to factors like potential interest rate cuts. The resilience and growth in the market offer hope for buyers and sellers in 2024.…

Vancouver rental buildings are raising parking fees beyond the 3.5% rent increase limit. The fee hike depends on the lease agreement: if parking is part of the unit lease, the increase is capped at 3.5%, but if separate, landlords can increase it as they wish. Tenants can contest perceived illegal increases at the Residential Tenancy…

New CMHC data shows a 55% decrease in Vancouver housing starts due to a lack of multi-unit construction. The annual pace of housing starts in January dropped by 10%, with multi-unit projects like apartments and condos slowing down. Toronto saw a 179% increase, while Montreal and Vancouver experienced declines. Continue to full article

Stabilized interest rates in 2024 are expected to boost deal-making in the multifamily sector, particularly in Vancouver and Victoria, following a decline in 2023. Private investors are the main buyers, but public real estate trusts are becoming more active. Government and non-profit agencies are likely to buy older properties, while newer buildings attract due to…

Downtown Vancouver office properties have significantly dropped in value, shifting the tax burden onto non-office properties like community retailers and industrial properties. While residential property values have stabilized, commercial and industrial properties in the Lower Mainland have seen an increase in assessed value, especially in the industrial sector. The impact of wildfires on property values…

Real estate expert predicts a continued demand for diverse housing options in established neighborhoods and a greater focus on affordability in Vancouver's 2024 housing market. The use of "mass timber" and offsite manufactured housing is expected to rise. Minimum parking regulations may be scrapped, but off-street parking will remain necessary. Home-sharing could help address the…