Beedie Unveils Fraser Mills Master-Planned Community in South Coquitlam

By Rob MacDougall, June 12, 2023

Located along the banks of the Fraser River in South Coquitlam, Fraser Mills will be the city’s first and only waterfront community. When complete, this 96-acre neighbourhood will be home to a collection of residences, restaurants, shops, extensive green space, plazas, and an aquatic and community centre. As a new landmark in the region, Fraser Mills will shape the future of Coquitlam and become a legacy milestone community for Beedie.

Beedie’s integrated team has envisioned a community in the spirit of the working river it runs alongside. Fraser Mills will celebrate the historic and cultural significance of the village that was built around the thriving sawmill. Masterplan partnerships include the City of Coquitlam, TransLink, Perkins & Will, Perry + Associates, and Bunt & Associates.

“WE ARE INCREDIBLY EXCITED TO BRING FRASER MILLS TO LIFE. AS COQUITLAM’S FIRST AND ONLY WATERFRONT COMMUNITY, THE PRIME LOCATION ON THE RIVER OFFERS A VIBRANT MIX OF HOMES, WORKPLACES, AND PUBLIC SPACES THAT CATER TO EVERY STAGE OF LIFE.”

– RYAN BEEDIE, PRESIDENT.

Bank Of Canada Raises Interest Rate For First Time Since January, Now 4.75%

The Bank of Canada (BoC) put an end to its rate pause on Wednesday, announcing another 0.25% increase to its policy rate, bringing it up to 4.75%.

This marks the first rate hike since January, and follows two consecutive pauses from the bank as they waited to see how their already-implemented increases worked to tamp down inflation. Going into the rate announcement, experts were uncertain about what to expect, with a recent report from Desjardins calling it “almost a coin flip at this point.”
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Competition Heats Up Among Buyers As Summer Arrives

While the year started slower than usual, Metro Vancouver’s¹ housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.

Sales

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,411² in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, and a 1.4 per cent decline from the 10-year seasonal average (3,458).
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BC Gov Expands Speculation and Vacancy Tax to New Areas

On Friday, the Province of British Columbia announced that it has expanded the Speculation and Vacancy Tax (SVT) to several new areas of BC for the 2023 tax year.

Those new areas include the municipalities of North Cowichan, Lake Cowichan, Duncan, Ladysmith, Squamish, and Lions Bay — the same municipalities the Province said the SVT would potentially expand to back in July 2022.
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Opinion: Stay Calm And Confident About B.C.’s Housing Market

The housing market in British Columbia has been a hot topic of discussion and concern for residents and people hoping to own a home. Depending on whether you already own property or not, you might want house prices to skyrocket by 30 per cent this year or completely crash.
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B.C. strata changes: Boomerang kids allowed in 55-plus strata buildings

Government increases exemptions for those living in 55 and over condos

Author of the article:

David Carrigg, Published May 01, 2023 •

PHOTO BY MONKEYBUSINESSIMAGES /Getty Images/iStockphoto

Last November, the B.C. NDP banned all rental restriction bylaws in strata agreements — except for over-55 strata buildings.

As a result, hundreds of strata properties adopted the 55-plus age restriction.

Prices Continue Rising As Home Buyer Confidence Returns

VANCOUVER, BC – May 2, 2023

With listing activity remaining below historical norms, home sales in Metro Vancouver have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,741 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded in April 2022, and 15.6 per cent below the 10-year seasonal average (3,249).

“The fact we are seeing prices rising and sales rebounding this spring tells us home buyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling,” Lis said. “The latest MLS HPI® data show home prices have increased about five per cent year-to-date, which already outpaces our forecast of one to two per cent by year-end. The year is far from over, however, and it remains to be seen if these price increases will be sustained into 2024.”

Spring Brings Renewed Price Growth Across Metro Vancouver’s Housing Market While New Listings Remain Dormant

VANCOUVER, BC – April 3, 2023

Home prices across Metro Vancouver’s1 housing market showed modest increases in March, while new listings remained below long-term historical averages. March data also indicates home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,5352 in March 2023, a 42.5 per cent decrease from the 4,405 sales recorded in March 2022, and 28.4 per cent below the 10-year seasonal average (3,540). The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,143,900. This represents a 9.5 per cent decrease over March 2022 and a 1.8 per cent increase compared to February 2023.

Canadian Real Estate Markets Show Signs of Recovery

On Wednesday, March 15, the Canadian Real Estate Association (CREA) released its national housing statistics for the month of February 2023. Below, CREA’s Senior Economist Shaun Cathcart provides an update on the current state of housing markets in Canada and explains what the data means for members:

We’ve been wondering for a few months whether—and to what extent—2023 would be a recovery year for housing markets following a steep drop-off in 2022, albeit from a lofty start.
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Canada’s Population Grew By Record 1 Million In 2022, Spurred By International Migration

Total population closing in on 40 million as Canada remains fastest-growing G7 country: StatsCan

Canada’s population grew by 1 million in 2022: StatsCan

New Statistics Canada figures show the country added more than one million new people in 2022 — the biggest one-year population spike since 1957. But while a growing population brings new energy and ideas, it comes as Canada struggles with a serious housing crisis.
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