The Real Estate Board of Greater Vancouver has released data for July 2012 which shows that pricing is beginning to be negatively impacted by slowing sales. A selected grouping of housing types and areas, shown below, shows pricing changes over the last two years.
This comes as July was the slowest month for home sales in Metro Vancouver since 2000. Of course, prices are still up in most areas YoY, but there has been a consistent decline in June/July across all types and areas. Single family homes have shown the greatest run up in prices over the past two years.
(click above for greater detail)
The Home Price Index (HPI) measures local housing price changes similar to the consumer price index.
Source: REBGV stats
A local investor group has acquired 1827 West 5th Avenue, a 2-storey office building and parking lot located on West 5th Avenue in the Kitsilano area just west of Burrard Street. The building is 11,300 sq ft and is fully leased to KPMG for a term of two years with three one year renewal options.The site area is 11,200 sq ft.
The purchase price was $6,280,000, representing a 5.0% cap rate on existing income. The zoning for the property is RM-4 and C-3A, which permits redevelopment in the future.
First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while
West Vancouver condo project in receivership, causing 'heartbreak' in Dundarave
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