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BC HOUSING FORECAST Q4 2017

STRONG ECONOMY VERSUS HOUSING HEADWINDS

Multiple Listing Service® (MLS®) residential sales in the province are estimated to reach 102,350 units this year, a decline of nearly 9 per cent from a record 112,200 unit sales in 2016. MLS® residential sales are forecast to decrease a further 10 per cent to 91,750 units in 2018. Housing demand is expected to remain above the ten-year average of approximately 85,000 units through 2018. The BC housing market is being supported by a strong-performing economy and corresponding employment growth, as well as associated consumer confidence.

The BC economy is forecast to expand by 3.8 per cent this year, the fourth consecutive year of 3 per cent or more real GDP growth. The cumulative effect has fuelled employment growth to its strongest performance in almost 20 years. Since January 2015, the province has added nearly 180,000 jobs. This has bolstered consumer confidence, with retail sales in BC expected to increase by an extraordinary 9 per cent this year.
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The Quickest & Easiest Way to Discover the Apartment Building Market

Discover the quickest and easiest way to discover the apartment buildings market at-a-glance and in real time!  This market brief is designed for superhero investors on the go.

You’re busy!  Don’t waste time slogging through boring TPS reports.  Instead, check out this summary and visualization of today’s multifamily investment market in British Columbia.

Now, this report ain’t fancy…it’s the “quick and dirty.”  You get the straight facts without all the crap in between.  We start with a two-sentence snapshot of each of the major regions in the province.  Next we move on to some visuals of the data for a fast look at what’s going on.
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White Rock Apartment Buildings – Market Analysis

White Rock apartment buildings are a highly desirable and scarce commodity in 2017.  The key areas of opportunity for White Rock multifamily investors and developers are:

  • Retrofitting and/or renovation of existing buildings
  • Increasing density of buildings located in Town Centre or Lower Town Centre areas (as defined by new White Rock Community Plan)
  • Increase rental rates for existing apartments
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BC Housing Forecast 2017-2018

Economic Outlook  |  Feature: Foreign Buyers  |  Lower Mainland  |  Vancouver Island  |  Thompson-Okanagan  |  Northern BC  |  Kootenays  |  Summary Tables

Multiple Listing Service (MLS®) residential sales in the province are on pace to reach 101,000 units this year, a decline of 10 per cent from a record 112,200 unit sales in 2016. Housing demand gained strength this spring, as some of the effects of federal and provincial policy efforts to tamp it down dissipated. The shock
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Northern BC Apartment Buildings Dominate Available Units

A lack of available apartment building inventory continues this week.  Only 122 multifamily listings over $900k are available for sale in the province of British Columbia.

Northern BC apartment buildings lead in number of units for sale with a staggering 721 apartment units currently on the market.  Several smaller communities in the north continue to be plagued by high vacancy.  LNG speculation led to massive investment in the northern region back in 2013-2014.  As LNG infrastructure project timelines have increased (or been postponed indefinitely), many portfolio-style properties have come available.  There are 444 units in 29 Northern BC apartment buildings currently for sale from just
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Apartment Building Listings Provincial Summary

February 20, 2017 – Total apartment buildings listings in British Columbia include 118 buildings with 2,944 apartment units currently on the market.

New apartment building listings in Northern BC make up the largest regional inventory for sale in the province.  Several portfolio properties on the coast are currently on the market.  Asking prices on the northern coast of British Columbia are at
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Multifamily Forecast to Drive Housing Through 2018

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 14.1 per cent to 96,345 units this year, after posting a record 112,209 unit sales in 2016. Consumer demand has declined from the record level experienced during the first quarter of 2016. Rising property tax burdens aimed at foreign buyers and at sales of homes valued over $2 million have
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Apartment Building Deals of the Week

As of February 6, 2016 there are 107 apartment building deals currently available in British Columbia1. Average cap rates for buildings for sale range from 1.88% in City of Vancouver to 7.24% in the Kootenays. Average price per unit is as low as $61,038 in Kootenays and nearly $500,000 in Vancouver.
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