Resales volume for single family houses in East Vancouver have slowed somewhat over the past few months, in keeping with the trend for Vancouver towards a buyer’s market. August 2012 appears as though it will the slowest August for resales in several years. It is likely that there will be a flat or modest decline in pricing if sales volumes remained depressed over a period of months; however, pricing up to August 2012 did not appear to be showing a downward trend.

As of September 1, 2012, there were 662 active listings for single family homes in East Vancouver. The average asking price of these listings is $1,058,000. 286 listings (43%) are over $1 Million.

(August 2012 are a preliminary estimate and do not represent final stats for August)

Source: REBGV stats

Openroad Auto Group has purchased Translink‘s property in Burnaby at Lougheed Highway and Boundary Road for $19,174,000. The 7.413 acre property located at 2020 Boundary Road, is designated for commercial development incorporating industrial flex/office with potential service commercial uses. The property is ideally positioned just west of Brentwood Town Centre, a rapidly growing residential and commercial area. The site had been listed for sale; click here for a brochure.

Onni has submitted a rezoning application for a 42 storey, 269 unit residential tower at 1396 Richards Street.  The proposed FSR is 8.615.

More information can be found HERE.

Burnaby’s Brentwood development could nearly double neighbourhood population.

Burnaby council chambers was packed for Tuesday night’s public hearing on the master concept plan for the Brentwood Town Centre site, with people gathering outside the doors to hear the proceedings.

The proposed development is divided into four phases and would include 10 residential towers possibly ranging in height from 20 to 70 storeys, depending on their location, and two office towers ranging in height from 30 to 40 storeys. The design also includes a redeveloped commercial centre, a 50,000-square-foot food store, and a variety of public outdoor spaces.

The City of Vancouver Affordable Housing Strategy was recenently unveiled which provides direction on affordable housing initiatives from 2012-2021.  The strategy relies heavily on the private sector leasing city owned land to construct affordable housing. 

More information can be found here.