Last year, the BC government took several steps to try and cool Metro Vancouver’s hot property market and increase affordability. However, despite the government’s best efforts – including a 15% foreign buyer’s tax – the gap between housing prices and income is growing wider than ever before. Greater Vancouver home prices reached a record benchmark
Burnaby is the next municipality to undergo a construction boom with more than 30,000 new all-purpose unites and more than 4,000 secondary rental units being built. It is the largest boom in Burnaby’s history. The City of Burnaby believe that this is the best way to help make the Lower Mainland affordable since the price
In February, the North Vancouver City Council adopted a bylaw that allowed both a secondary suite and a coach house on lots zoned for single house development. Secondary suits and coach houses provide homeowners flexibility to provide for extended family members, or to rent out these accommodations to help out with mortgage and other expenses.
Like any investment, the Vancouver housing market has its ups and downs. However, in North Vancouver, where the median price of a single family detached home is 1,824,614, we’ve seen about a 10-per-cent increase last year and a 21-per-cent increase in the last five years, according to the Real Estate Board of Greater Vancouver. The