In the media this week: the BC Government releases data relating to foreign investment in Metro Vancouver real estate, renters continue to struggle with rates increasing and available options disappearing, analysis on our most recent market data from June, and more.
What’s going on with foreign investment?
The BC Government released a report showing that foreign investment in real estate in our region may be less significant than many have been lead to believe. The report and CBC’s coverage can be read here.
Preliminary data collected by the BC government on foreign investment in the province’s sizzling real estate market shows that in Metro Vancouver, five per cent of all real estate purchases were made by foreign buyers, almost all of them Chinese nationals. – CBC
The Fraser Valley housing market? Still hot
- In case you missed it, you can see the latest market data for the Fraser Valley in our June 2016 stats package.
- Board President Charles Wiebe was asked to comment on what’s happening in Surrey, which you can read here.
- REW.ca created an interesting look into what the benchmark price of a single family detached home will get you in each of our Board’s communities.
IAG Report and the BC Government’s response
Up-to-date on the news coming out of the Real Estate Council of BC and our provincial government? If not, we’ve got you covered. Read the Board’s analysis of the report and announcement here, and watch President Charles Wiebe discuss the Board’s perspective on the recommended changes here.
And just for fun…
- Have you ever thought, “Hey, I wish I could live like Jedi Master Luke Skywalker”? Well, now you can! Sort-of. There’s a Star Wars home for sale just outside of Ottawa, and it looks surprisingly nice for a home designed by a moisture farmer.
- If you find yourself driving across this wonderful country of ours, be sure to keep an eye out for these very odd roadside attractions.
That’s it for this week! See you next time with what’s happening In the Media.