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September 2023 Monthly Market Update & August Statistics

Josh Kepkay
Sep 11 1 minutes read

How's the Market?

Despite the challenges posed by rising interest rates, our market has exhibited remarkable resilience, boasting an impressive 8% year-to-date price appreciation across all property categories. 

From the thriving condo segment, which has seen a remarkable 27.4% surge in sales, to insightful regional benchmark price shifts, our analysis will equip you with valuable information for informed decision-making. 

Intrigued by the sales-to-active listings ratio and its implications? Curious about the stability of interest rates? Stay informed and empowered with our expert guidance. If you're considering entering the market or simply seeking professional advice, don't hesitate to connect with me. đź“ž Let's work together to transform your real estate aspirations into reality. 

BC Real Estate News

B.C. Real Estate News

LOWER MAINLAND

Vancouver home prices rise as sales up nearly 30 per cent from last July (CTV News)

Average asking rent for a 1-bedroom apartment in Vancouver tops $3,000 (CTV News)

Average home price in Canada climbs and the latest number is depressing (Daily Hive)

Coquitlam eyes cheaper below-market rents, lock-off units near SkyTrain (TriCity News)

Federal government invests $208M in south Vancouver rental housing (TriCity News)

Vancouver development community sees uncertainty in multiplex zoning plan (The Globe And Mail)

BRITISH COLUMBIA

Challenges and resilience: BCREA unveils 2023 Q3 housing forecast for B.C. (Real Estate Magazine)

B.C. housing market to weather storm of potential rate hikes: industry association (BIV)

B.C. turns from land sales to creating a land bank to help create more affordable housing (The Globe and Mail)

Tax wealthy homeowners to fund affordable housing, says new B.C. proposal (BIV)

VICTORIA & VANCOUVER ISLAND

Greater Victoria real estate sales picked up mid-August (Times Colonist)

'Poison pill' restrictions crushing hopes for more multi-unit housing in Victoria (Vancouver Sun)

OKANAGAN

Kelowna council approves permits for 16-unit 'family-friendly' townhouse project (Kelowna Now)

CANADA

Bank of Canada holds interest rate steady at 5% (CBC)

Real estate report: Second highest home price increase ever recorded in a single month (CTV News)

Buyer-friendly terrain emerges as Canada’s housing market cools (Real Estate Magazine)

Strong uptake for Canada's new First Home Savings Account (Daily Hive)

Inflation jumped higher last month, to 3.3% (CBC News)

Average house price hit $668,754 in July, up by more than 6% in past year (CBC News)

The federal government’s potential leap towards housing affordability (Policynote)

Average rent in Canada hit a new record high in July (Daily Hive)

 
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