Resales volume for single family houses in West Vancouver have slowed significantly, and reflects a Metro-wide trend of a definitive swing towards a buyer’s market. June 2012 was the slowest June in over 10 years, with just 30 resales. Comparatively, there were 121 sales in June 2011. Of these 30 sales last month, 20% had dropped their asking price at least once, compared with just 10% of the sales in June 2011.

Source: MLS Statistics

Plan for 33-storey tower clears more hurdles.

Despite protests from neighbours to the east and residents directly around the site, a new 33-storey tower straddling the border of Coquitlam and Port Coquitlam received yet another green light Monday.

Coquitlam council unanimously granted second and third readings to a rezoning application designed to accommodate a new development at the corner of Westwood Street and Lincoln Avenue.

Plans to redevelop the Plaza of Nations have moved from public consultation in 2011 to formal application with an application to amend the existing CD-1 District By-law for the site.

The proposed amendment would allow 1.4M sq ft of residential, 350,000 sq ft of commercial, and 57,000 sq ft of community centre uses, with a total density of 3.9 FSR. The residential use will provide 1,700 to 2,000 residential units. The commercial use will provide retail, office, hotel, restaurants, and cafes. The community centre and associated uses include a daycare for 69 children, an ice rink which would provide a practive venue for the Vancouver Cancucks, and sports science centre. All required parking will be below grade. The buildings will vary in height and be up to a maximum of 30-storeys to meet view cones.

More information can be found here.

Source: City of Vancouver