I have sold a property at 1354 129A ST in Surrey.
What a great neighborhood to call home! This cute 3 bed, 2 level home has a ton of possibilities. Upstairs has 2 good sized bedrooms and has been maintained nicely & renovated with quartz kitchen & bath countertops, hardwood floors, fresh paint & modern light fixtures. Great open floor plan for having guests over. The kitchen opens onto the back deck & private back yard with bonus shop/playhouse. Downstairs is a one bed in-law suite with its own separate laundry. Walk to shops, parks, school & 1001 steps to beach! This is a great location that is highly sought after. Don't miss this one!
Posted on December 12, 2014 by Robert Doolan
I have sold a property at 2504 140 ST in Surrey.
Cozy 1530 square foot rancher on rare 0.55 acre lot in Elgin/Chantrell school catchment. This is a fabulous property with plenty of room for RV, boat, trailer and all your other toys. Room for shop or detached garage with loft area as well. There are two bonus out buildings. One is great for a workshop and the other a music room, etc. If you like gardening this will be a dream. Bring your ideas and turn this into a paradise. Lot is 80 feet wide by 300 deep. Builder / Investor or home based business alert!
Posted on December 12, 2014 by Robert Doolan
I have sold a property at 13151 15A AVE in Surrey.
Great family home in a safe quiet cul-de-sac in highly sought after Ocean Park. Upstairs has a great open concept with lots of ambient light & beautiful original hardwood floors refinished to look brand new. Fully updated kitchen with solidwood cabinets, s/s appliances, Wolf gas range & functional eating island with more storage. 2 beds up & 2 down with family room up and games down. Huge back yard & deck for entertaining. Bonus powered shop & hot tub. Laronde Elementary french emersion & Elgin High school catchments. Close to parks, shopping, restaurants, transit and 5 min to either beach. Addition to home and detached garage off lane may be possible.
Please visit our Open House at 12363 NEW MCLELLAN RD in Surrey.
Open House on Saturday, December 13, 2014 1:00 pm - 3:00 pm
Great family home in a great location surrounded by beautiful million dollar homes. This lovely three bedroom home has everything to offer including a well designed floor plan, vaulted ceilings, fabulous feature gas log fireplace in the living room, hardwood floors, a large private back yard with a workshop and playhouse and no shortage of parking. It has a nice cozy feeling without compromising elbow room. The den can easily be converted to a 4th bedroom or office. Quality craftsmanship was the order of the day when this home was built. Come have a look and I'm sure you won't be disappointed. Vendor financing available to qualified buyers.
Posted on December 8, 2014 by Robert Doolan
08 Dec 2014
by Olivia D'Orazio
Housing starts across Canada remained flat year over year in November, although seasonally-adjusted numbers point to growing momentum in British Columbia and Quebec as developers ramp up to meet immigration demands.
Article courtesy of REP - Real Estate Professional Magazine
Posted on December 5, 2014 by Robert Doolan
Quarterly Population Highlights - BC and Canada
A release from the Province of British Columbia’s central statistical agency
B.C. Population April 1, 2014 4,616,626
THE LAST TWELVE MONTHS:
SECOND QUARTER INTERNATIONAL MIGRATION:
SECOND QUARTER INTERPROVINCIAL MIGRATION:
British Columbia was one of five provinces that reported a net gain in population (+1,972) from other Canadian jurisdictions in the second quarter. In B.C. an inflow of 18,570 persons was offset by an outflow of 16,598. British Columbia’s net exchange with Alberta was negative with an estimated 662 more persons leaving B.C. for Alberta than coming to British Columbia. Conversely, net migration from Ontario (+1,533), Saskatchewan (+433) and Manitoba (+90) to B.C. was positive. Alberta was the biggest net recipient province in the second quarter of 2014 with a net gain of 13,204 persons, followed by B.C. with a net gain of 1,972. Nunavut, with a net inflow of 156 persons, Nova Scotia (+87) and Yukon (+83) were the only other areas to post a net gain in interprovincial migrants.
Posted on December 3, 2014 by Robert Doolan
November 25, 2014
Article courtesy of OPP-connect.com
With numbers of non-permanent residents underestimated by around 100,000, demand is being boosted in housing and rental markets in Canadian cities, says a new report from the CIBC bank
Immigration numbers in Canada have been underestimated by around 100,000 and the sector is playing a greater role in supporting the housing market in some of its largest cities, a leading bank believes.
Non-permanent residents — students, temporary workers and humanitarian refugees who are currently residing in Canada – play a key role in demand for new housing and in the rental market, particularly in Toronto, Vancouver and Calgary, says the CIBC’s latest Economic Insights report.
A “huge gap” in the official numbers for non-permanent residents from Statistics Canada’s census data and Citizen and Immigration Canada (CIC), means that household growth projections have been understated.
Benjamin Tal, CIBC Deputy Chief Economist, who co-authored the report with Nick Exarhos, says, “Ask any real estate developer in any of Canada’s major cities about the risk of overbuilding, and the first line of defence would be immigration and its critical role in supporting demand. It turns out that at least for now, this claim is more valid than widely believed.
“Not only has the rising share of young immigrants lifted demand for housing, but also, official population projections understate the actual number of non-permanent residents in the country by close to 100,000,” he says.
New immigrants make up 70% of the increase in Canada’s population and as half are aged 25-44, they represent the country’s economic engine with the highest employment levels and the most likelihood of starting families, the report says.
In 2013, non-permanent residents (NPRs) rose 22,000 to 774,000, with an annual flow equivalent to a record-high 30% of new immigrants the country gets each year.
The number of Canadians aged 20-44 rose by 1.1% in 2013, the fastest pace in more than two decades and almost double the Organisation of Economic Co-operation and Development’s growth rate.
Over the past decade, the number of Canadians in this age group has risen 75% faster than in the United States and that is boosting the real estate sector. “Healthier demographics are benefitting trends in household formation,” says Mr Tal.
Despite some concerns of overbuilding in the current housing boom, the ratio of housing starts to household formation – the rate at which people move – is not far from its long-term average of 1.03, indicating no signs of froth.
“The broadly in line aggregate trend in Canada’s homebuilding means that eventual wind down in the current boom won’t have to be as dramatic as feared by some.”
After a hot housing market in 2011 and 2012, condo construction in Toronto has cooled off, while the trend in Vancouver has been broadly flat for the past four years. Only in Calgary do starts continue to show upward momentum. But because those three cities take in roughly half of all new immigrants, they are also benefiting disproportionately from their presence.
The discrepancy in the immigration figures stem from the fact that many researchers use the 2011 census to project household formation, but the census data suggests non-permanent residents in 2011 was close to 400,000 – more than 200,000 below the figures reported by CIC.
Another widely used measure of household formation is Canadian Mortgage and Housing Corporation’sLong-Term Household Growth Projections – 2013 Update, which is based on Statistics Canada’s 2010 population projection, and underestimated the pace of the increase in the number of non-permanent residents, mainly after 2012.
CIBC economists estimate that in 2014 the official population projection undercounts the number of NPRs by close to 100,000. This has important implications regarding the understanding of the pace of growth in household formation in Canada, says Mr Tal.
“The gap is increasingly becoming more relevant for housing demand since a growing proportion of non-permanent residents come from workers and students with a relatively higher propensity to rent.”
The ‘echo generation’ – the children of baby boomers – are buying fewer homes and with foreign workers set to face more barriers to come to Canada, the demand for new housing is likely to slow in future, although it will be partly offset by the country’s plan to raise the immigration quota by 20,000-30,000 a year, with an increased focus on labour market needs.
CIBC, which is Canada’s largest bank, says while it still sees some moderation in the growth of homebuilding, it expects an average rate of 190,000 starts per year up to 2016, more than 10,000 higher than its previous prediction.
By Adrian Bishop, Editor, OPP Connect
Posted on December 1, 2014 by Robert Doolan
Mother Nature is promising to play favourites with agents on one side of the country, as seasonal forecasts predict buyer-friendly winter weather in one key market.
by Olivia D'Orazio
Real Estate Professional Magazine article
26 Nov 2014
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