Photo by Mark Walker

Canada Mortgage and Housing Corporation reported regular revision of seasonally adjusted annual rate of housing starts in Canada. It hit 189,100 units in July 2010, losing around 1.7% since June 2010. Both urban single and rural starts reduction accounted for the loss, which was partly counterbalanced by increasing number of multiple starts. Housing starts are expected to reach 184,900 units at the end of 2010.

Largest decrease of urban starts was recorded in BC (-14.5%), followed by Ontario (-2.9%) and Quebec (-0.9%). On the other hand, Atlantic region recorded solid 37.8% growth.

2010 housing starts are up by 49.5%, compared to the same period of 2009; BC is the region with strongest growth (compared to 2009). The New Housing Price Index climbed 3.3% year-over-year in June; home prices increased in 18 of 21 centers, Vancouver having the second highest (+6.5%) increase.
 

Photo by fPat Murray

Quebec realtors are campaigning against the unexpected large increase in licensing fees, which have to be paid to the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), regulatory body controlling licenses, records, disciplinary proceedings, indemnity fund and many other key parts of real estate administration.

The fee went up from $410 to $906 quite unexpectedly, annoying most of the agents. They immediately started petition, collected votes of more than 2000 agents so far, and even held little demonstration at OACIQ offices. You can also join their fan group on Facebook.

Photo by Tania Liu

Unusual project is being built on 60 West Cordova. It comes without parking spaces, with minimal marketing and with requirement of self-maintenance by the future inhabitants. The goal is clear – to construct condominium affordable for a couple working for minimum wage.

Developer Ian Gillespie situated the 108-unit development, designed by architect Gregory Henriquez, on the border of Gastown and the Downtown, on the neighbouring block to his Woodward’s complex, project that combines condos, social housing and art centre. Lack of parking should both drive down the costs (single downtown parking space costs around $40,000) and keep wealthier households’ interest off.

Smile by Romain

Over $100,000 was raised during the Yard Sale for the Cure on May 29, organized by RE/MAX Canada. The sum will be donated to Canadian Breast Cancer Foundation and will help to fund breast cancer research, healthy life style and cancer awareness promotions and training.

Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada: “RE/MAX is wholly committed to the Canadian Breast Cancer Foundation’s ultimate goal of creating a future without breast cancer. It’s a goal we’ve taken to heart and one that inspires. That is why, each year, Yard Sale for the Cure prompts greater participation and creativity, as each RE/MAX office strives to surpass the previous year’s goal. The level of enthusiasm is simply remarkable.”

Photo by Kyle Simourd

If you plan to go for a barbecue somewhere around the BC coastal region, don’t forget to pack portable stove – unless you want to face $345 fine. Official ban of campfires starts this Friday at noon.

Authorities were forced to issue this ban due to long period of extremely dry conditions, which substantially increased the risk of wildfires and set fire danger ratings to high or even extreme level. The ban will last until dumper weather comes.

Car Park by Steven Lilley

Colliers International has been publishing its survey of parking costs for a decade now. Latest results proved parking business is completely recession proof, at least in Canada.

Average monthly parking expenses climbed all over the country. Calgary is at the top with monthly average $453.38, followed by Toronto ($336.25), Montreal ($280.60) and Edmonton ($275). Vancouver placed 5th; our drivers spend $266.81 on average in June to park their cars. If you want it cheaper, you should probably move to Kitchener-Waterloo (Ontario), where you would spend only $116.94.

Actual is not normal
by Kevin Dooley

Canada Mortgage and Housing Corporation released regular monthly report for Canada. According to the latest records, seasonally adjusted annual rate of housing starts reached 189,000 units in June. Moreover, the rate was also revised for two previous months so there are adjusted results for both April and May.

New numbers say we reached 3.7% month over month growth in April 2010 (205,900 starts), while there were 5.1% (195,300 starts) and 3.1% decrease recorded in May and June. Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre, said: "Housing starts decreased during June, largely due to the multiple starts segment in Ontario. The single starts segment was largely unchanged Canada-wide. After a robust start to 2010, we expect the pace of housing start activity to moderate and total 182,000 units by year-end.”

Photo by Bernd

In the previous five parts of our Home Renovations Guide we have explored what to do to enhance the value of your property. In the last part, called Worst Renovation Mistakes, we will mention what not to do and which peculiarities of renovation process to watch out.

Photo by Sigurd Gartmann

The Greater Vancouver housing market experienced steady activity to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 2,972 in June 2010, a decline of 30.2% compared to the 4,259 sales in June 2009, a 22.6% increase over June 2008, and a 30% decrease compared with June 2007 and a 5.8% decrease compared to May 2010 when 3,156 sales were recorded.

News about China’s immense interest in Vancouver properties are brand new, however, this time it looks that buyers take it more than seriously.

The best cost/value added ratio usually comes from various small scale renovations. Or try something different – what about adding a pool, or a tennis court?

Canada Mortgage and Housing Corporation released May results for housing starts. The seasonally adjusted annual rate of housing starts reached 189,100 units.

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

Second half of our Home Renovations Guide begins at the bottom: in your basement. Learn more in the fourth part of our guide, called Renovating Basement.