Daniel Liu Realty
102-403 North Road V3K 3V9 Burnaby, BC, Canada

2017 has been a year of contrasts for real estate in the Greater Vancouver Region - detached properties have noticeably cooled down while attached properties remain hot as ever. Inventory of attached properties are hitting all-time lows, as the limited supply of condos and townhomes on the market cannot keep up with the ongoing and increasingly excess demand. Buyers are exhausting the listings from prior months thus causing a negative sales ratio. On the other hand, inventor...y of detached properties are slowly building up as sales activity have been unusually slow. The sales-to-listings ratio of houses are similar specifically to the lows of 2008. As for prices - Across the entire region, attached properties have appreciated between 20-30% in response to consumer demand for condos and townhomes. In contrast, prices of most detached properties have either remained stable or depreciated slightly, even though the excess supply of detached homes on the market suggests a stronger decline. At the same time, Maple Ridge, Pitt Meadows, and Port Coquitlam are some of the few exceptions in which the detached market have seen greater than usual growth in 2017, likely due to the their relative affordability. The unanticipated increase in prices has been a main concern for homebuyers, but let's not forget about the record amount of active construction underway and their respective pre-sales scheduled for completion; an injection of this magnitude may normalize inventory levels and impact the rate of price changes.

Quick Update Plans to curb demand for real estate set for February "Best of ability," "No confirmation of empty-home tax in Feb". NDP working to create more two and three-bedroom housing Proposition of a 2% absentee tax (Empty Homes)... Detailed plans on enforcing the 2% absentee Release of an accountable time-constrained plan. Addressing building permit-delays Specific rezoning proposition in more single-family-housing-neighborhoods Vague plan of action for addressing important issues, affordable housing is a basic need! Let's keep our government accountable for their promises to us. Full Story Below: - NDP & Green party has yet to done anything in the last 6- months since taking power on addressing housing issue. -In its election platform, the NDP pledged to bring in a two-per-cent absentee speculators tax to target property owners with empty homes. We’ve got to stop the speculation, we’re going to do that to the best of our ability in February, While Horgan did not confirm that the tax would come in February, he suggested that speculators were squarely in the party’s cross hairs. https://globalnews.ca//john-horgan-promises-housing-tax-c/

Not all price ranges nor types of homes are selling at the same speed. We are definitely anticipating a much more active than usual winter this year due to buyers rushing to capitalize on their mortgage before the Mortgage Stress Test coming in 2018. Stay tuned for more updates!

The last few weeks have been hectic, with new mortgage policies tightening up we’ve been on scrambling to find out friends and clients their dream homes before the new year. Temporary-Modular- Housing for local homeless and those in need is well overdue. It the first step in disrupting the cycle of poverty, mental illness, homelessness and crime. Every city, every neighborhood should partake in this challenge together. We are Canadians, we are Vancouverites. ... Modular housing focused on locals doesn’t bring any more homeless to the neighborhood, than a band-aid brings wounds to the flesh. https://globalnews.ca//marpole-protest-injunction-tempora/

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