Blogs

The possibility of exporting liquefied natural gas (LNG) has fueled excitement in three resource-dependent communities in northwestern British Columbia, sending prices for single-family detached homes soaring.

With assessed values for detached houses having more than doubled in Kitimat over a three-year period, this increase arose during the expansion of Rio Tinto Alcan’s aluminum smelter and speculation about LNG projects.

A new record was set for condos and townhouses in Calgary for 2014.

According to the Calgary Real Estate Board, latest figures show an 18 percent year-over-year rise in sales of condos with 17 percent for townhouses. Monthly figures for December showed declines across all sectors; not unusual for the end of the year. Single family sales totaled 708 units in December, a year-over-year decline of 8.3 percent. Meanwhile, total condominium sales also declined by six percent over the same time frame, but overall activity remained consistent with long-term averages.

A recent study has debunked the historical predictions of an oversupplied housing market caused by a mass evacuation of baby boomers from their residential homes.

Urban Figures’ report, Trends in Housing Occupancy Demand, found that Canada will actually need another 4.5 million homes for incoming generations in the next 30 years, as baby boomers remain in their homes.

The Government of Canada has introduced a new way to select immigrants.  Starting January 2015, skilled foreign workers will have access to the Express Entry system. A new electronic application management system, this structure will apply to Canada’s key economic immigration programs including; Federal Skilled Worker Program (FSWP), Federal Skilled Trades Program (FSTP), Canadian Experience Class (CEC), and a portion of the Provincial Nominee Programs (PNP).

Cropping up in Canada’s real estate market over the last few years, realtors are embracing the use of drones to help sell properties.

Providing potential homebuyers with aerial photos of properties for sale, these drones make it possible for those interested to get a feel for the land without physically being present. Compared to the thousands it would cost to hire a helicopter and photographer, the drone technology ranges from a few hundred dollars for personal aircraft, to up to $200,000 for commercial grade units. The higher end drones are operated by controllers, like those used for video games, or can resemble an iPhone.

A recent study says that we will need another 4.5 million homes over the next three decades. Released by Urban Futures, the report points to population growth and increasing life expectancy, and shows a marked departure from past predictions.

The average price of a home in Canada hit another all-time high in October, rising 7.1 percent over the past year to just short of $420,000. However,  economists at Canada's major banks continue to warn that current house price trends can't continue.