New Strata Property Act Amendments: What You Need to Know About The End of Rental and Age Restrictions, and New Virtual Meetings Permissions

New Strata Property Act Amendments: What You Need to Know About The End of Rental and Age Restrictions, and New Virtual Meetings Permissions

At a glance (2 minute read)

  • Stratas can no longer enforce rental restrictions, except for short-term rental restrictions.
  • There are now only two age-related options for stratas: a bylaw requiring at least one resident in a unit to be 55 years-old or older; or no age restriction bylaw.
  • Stratas can now conduct annual and special general meetings virtually without a bylaw explicitly allowing them to do so.

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Inflation, Rising Interest Rates Create Caution Across Metro Vancouver’s Housing Market

Inflation, Rising Interest Rates Create Caution Across Metro Vancouver’s Housing Market

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5 per cent decrease from the 3,494 sales recorded in October 2021, and a 12.8 per cent increase from the 1,687 homes sold in September 2022.

Last month’s sales were 33.3 per cent below the 10-year October sales average.
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These 6 Modern Breakfast Nooks Are a Gorgeous Way to Start the Day

These 6 Modern Breakfast Nooks Are a Gorgeous Way to Start the Day

A casual alternative to the dining room table, the breakfast nook is perfect for anything from sitting down to a morning smoothie bowl, to standing in as a home office. Here are a half-dozen modern takes on the classic, cozy eating area.

  1. Marble Luxury

Kalu Interiors combined finishes for the breakfast nook in this updated 1970s Vancouver Special, including a smaller wood table with a marble base and rattan dining chairs. Velvety teal pillows add colour to the space and additional comfort to the wood floating bench.
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Metro Vancouver Saw More Home Sellers and Fewer Buyers In September

Metro Vancouver Saw More Home Sellers and Fewer Buyers In September

Home sellers were more active in Metro Vancouver’s housing market in September while home buyer demand remained below the region’s long-term averages.

Sales

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,687 in September 2022, a 46.4 per cent decrease from the 3,149 sales recorded in September 2021, and a 9.8 per cent decrease from the 1,870 homes sold in August 2022.
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Metro Vancouver’s Housing Market Sees Fewer Home Buyers And Sellers In August

Metro Vancouver’s Housing Market Sees Fewer Home Buyers And Sellers In August

Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,870 in August 2022, a 40.7 per cent decrease from the 3,152 sales recorded in August 2021, and a 0.9 per cent decrease from the 1,887 homes sold in July 2022.

Last month’s sales were 29.2 per cent below the 10-year August sales average.
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Metro Vancouver Real Estate Market To Stabilize In Coming Months, Says Economist

Metro Vancouver Real Estate Market To Stabilize In Coming Months, Says Economist

The Metro Vancouver housing market is in a healthier position for first-time homebuyers or someone looking to get into the real estate market, says one expert.

Multiple Listing Service (MLS) residential sales in B.C. are forecast to decline 34.4 per cent from a record high 2021 to 81,900 units this year.Pierre Longnus/The Image Bank/Getty Images

As Metro Vancouver moves out of a quieter summer season for the housing market, home prices are expected to stabilize in the next three months, according to the British Columbia Real Estate Association (BCREA).
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REBALANCING OF THE MARKET ACROSS BRITISH COLUMBIA

REBALANCING OF THE MARKET ACROSS BRITISH COLUMBIA

Over the past few weeks, MLA Canada’s Advisory team gathered and interpreted market reports to identify and summarize market trends seen in the month of July. As an authority on the Canadian real estate market, the MLA Advisory team maintains an exhaustive understanding of market intelligence and the ability to translate that knowledge into actionable information.

July was a month of rebalancing in British Columbia, with Greater Vancouver, Fraser Valley, and Greater Victoria, and the Okanagan all reflecting more favourable buyer conditions. As resale activity compressed for the fourth consecutive month, the area continues to see rebalancing market conditions. Hesitancy stemming from rising interest rates is giving supply time to replenish from historic lows and, in turn, is creating improved buyer conditions across markets in the Lower Mainland and BC.
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CMHC Confirms Government Costs Raise New Home Prices

CMHC Confirms Government Costs Raise New Home Prices

In Vancouver, fees and charges accounts for 20 per cent of the price of a new condo apartment, new federal study says

Verifying what home builders have been saying for years, a new report from Canada Mortgage and Housing Corp. (CMHC) confirms that government costs and fees add tens of thousands of dollars to the price of a new home.

According to a new joint CMHC and Altus Group Housing Market Insight report, Government Charges on Residential Development in Canada’s Largest Metropolitan Areas, released July 5, government fees impact the cost of new home construction by as much as 24 per cent.
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Home Buyer Demand Continues To Ease Across Metro Vancouver

Home Buyer Demand Continues To Ease Across Metro Vancouver

VANCOUVER, BC – August 3, 2022
Metro Vancouver’s housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent decrease from the 3,326 sales recorded in July 2021, and a 22.8 per cent decrease from the 2,444 homes sold in June 2022.

Last month’s sales were 35.2 per cent below the 10-year July sales average.
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10 of The Weirdest Housing and Property Laws in Canada

10 of The Weirdest Housing and Property Laws in Canada

Owning a home in Canada comes with myriad rules and regulations, but there are several strange and little-known laws that govern what you can, and can’t, do on your property.

From the length of your grass to the colour of your garage door, RE/MAX has rounded up some of the weirdest homeowner laws in Canada.

Some will make you neighbourly, some will make you laugh, and some will make you question how such a law was passed.

Check out 10 of the strangest housing and property laws in Canada, below.
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