BURNABY / TRI-CITIES Mar 2, 2016 Real Estate Weekly
12
BURNABY TRI-CITIES WEDNESDAY, JANUARY 20, 2016 info@rew.ca • 604-435-7977 REAL ESTATE WEEKLY Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, financing and comparative properties in your area. Find your EXPERT Real Estate professional right here in REW.ca! BURNABY TRI-CITIES WEDNESDAY, MARCH 2, 2016 info@rew.ca • 604-435-7977 REAL ESTATE WEEKLY GO TO REW.CA /NEWS TO READ THESE STORIES AND MUCH MORE REAL ESTATE NEWS AND ADVICE Whoʼ s Buying What? A Look at Trends in Vancouver Real Estate Virtual Tour of Michael Jacksonʼ s Neverland Ranch, Listed for $100m Photo Gallery: Stunning Burnaby Home Renovation, Before and After I t doesn’t matter if you’re a first-time buyer or not – the province is focusing the much-needed affordability measures in its 2016 BC Budget towards buyers of newly built entry-level homes, Finance Minister Mike de Jong announced February 16. In an unexpected move, which had been widely predicted to be a cut in Property Transfer Tax (PTT) specifically for first-time buyers, de Jong announced that buyers of new homes up to $750,000 in value will no longer have to pay PTT (although GST still applies), effective February 17. This exemption is available to Canadian citizens and permanent residents only, and is exclusively applicable to primary residences, with strict occupancy requirements. For those who meet the criteria, the change will save buyers of new homes up to $13,000. To help pay for this, the province is raising PTT on homes worth more than $2 million from two to three per cent, on the portion of the value above $2 million. The third major housing initiative announced was the collection of data on foreign ownership. From this summer, everybody buying a home in BC will be required to state whether they are a citizen or permanent resident of Canada, and if they are not, they must disclose their country of citizenship. In corporate property purchases, the directors of the company must disclose their citizenship. However, the announcement did not state what such data would be used for. The budget presentation slides pointed out that this kind of data collection was stopped in 1998 due to “compliance costs and lack of data use” and added that there is now “a consensus that the data are required.” De Jong also said that the BC government would be working with municipalities to “reduce the hidden costs in home purchases, and make those costs clear and transparent to home buyers.” The British Columbia Real Estate Association was quick to respond to the measures, largely offering its support. In a statement, it said, “Collecting and analyzing information on real estate transactions will help the provincial government make fact-based policy decisions. BCREA welcomes this initiative and looks forward to having the data publicly available.” The association was more measured in its response to the PTT changes. “The PTT exemption for new homes up to $750,000 will help stimulate supply of new housing and provide more opportunities for home ownership across the province. This exemption is commendable, however with many new housing projects taking years to complete, it may not have the immediate impact desired by the government.” It also said that the other changes to Property Transfer Tax did not go far enough. “While the new three per cent threshold for properties over $2 million is intended to pay for the new home exemption, the province has missed an opportunity to raise the existing threshold levels to provide broader PTT relief for those who cannot afford a newly constructed home and who are not first time homebuyers.” The association added: “By not indexing the threshold levels, the province ensures that – in an environment of rising home prices – an increasing number of homes will fall within the new three per cent threshold, resulting in a higher tax burden on more home buyers.” It concluded, “The BCREA continues to call on the provincial government to: • Increase the 1% PTT threshold from $200,000 to $525,000; • Index the 1% PTT threshold using the MLS® Home Price Index, and make adjustments annually; • Index the exemption threshold for the First-Time Home Buyers’ Program using the MLS® Home Price Index, and make adjustments annually.” BC Budget 2016: First-Time Buyers Sidelined, Local New Home Buyers Win
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Since 1978 Real Estate Weekly has been synonymous with outstanding coverage of the Greater Vancouver residential real estate market. Today, published with recycled newsprint from its own high-speed presses in Vancouver, Real Estate Weekly is delivered by British Columbia's largest courier force to over 210,000 homes across the Lower Mainland. A total of 5 separate editions comprise the Real Estate Weekly, each featuring homes for sale, new developments and quality editorial coverage of the housing industry and the communities. Real Estate Weekly, quite simply, lists more homes for sale from more Realtors than any other publication in British Columbia. Real Estate Weekly is the number one source for Lower Mainland residential real estate and the first choice of both homebuyers and Realtors for more than three decades.
Transcript of BURNABY / TRI-CITIES Mar 2, 2016 Real Estate Weekly
BURNABY TRI-CITIES WEDNESDAY, JANUARY 20, [email protected] • 604-435-7977
R E A L E S T A T E W E E K L Y
Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide the most
up to date information on the real estate market, price, fi nancing and comparative
properties in your area.
Find your EXPERT Real Estate professional right here in REW.ca!
BURNABY TRI-CITIES WEDNESDAY, MARCH 2, [email protected] • 604-435-7977
R E A L E S T A T E W E E K L Y
GO TOREW.CA /NEWS
TO READ THESE STORIESAND MUCH MORE REAL ESTATE
NEWS AND ADVICE
Whoʼs Buying What? A Look at Trends in
Vancouver Real Estate
Virtual Tour of Michael Jacksonʼs Neverland Ranch,
Listed for $100m
Photo Gallery: Stunning Burnaby Home Renovation,
Before and After
It doesn’t matter if you’re a fi rst-time buyer or not – the province is focusing the much-needed affordability
measures in its 2016 BC Budget towards buyers of newly built entry-level homes, Finance Minister Mike de Jong announced February 16.
In an unexpected move, which had been widely predicted to be a cut in Property Transfer Tax (PTT) specifi cally for fi rst-time buyers, de Jong announced that buyers of new homes up to $750,000 in value will no longer have to pay PTT (although GST still applies), eff ective February 17. This exemption is available to Canadian citizens and permanent residents only, and is exclusively applicable to primary residences, with strict occupancy requirements. For those who meet the criteria, the change will save buyers of new homes up to $13,000.
To help pay for this, the province is raising PTT on homes worth more than $2 million from two to three per cent, on the portion of the value above $2 million.
The third major housing initiative announced was the collection of data on foreign ownership. From this summer, everybody buying a home in BC will be required to state whether they are a citizen or permanent resident of Canada, and if they are not, they must disclose their country of citizenship. In corporate property purchases, the directors of the company must disclose their citizenship.
However, the announcement did not state what such data would be used for. The budget presentation slides pointed out that this kind of data collection was stopped in 1998 due to “compliance costs
and lack of data use” and added that there is now “a consensus that the data are required.”
De Jong also said that the BC government would be working with municipalities to “reduce the hidden costs in home purchases, and make those costs clear and transparent to home buyers.”
The British Columbia Real Estate Association was quick to respond to the measures, largely off ering its support. In a statement, it said, “Collecting and analyzing information on real estate transactions will help the provincial government make fact-based policy decisions. BCREA welcomes this initiative and looks forward to having the data publicly available.”
The association was more measured in its response to the PTT changes. “The PTT exemption for new homes up to $750,000 will help stimulate supply of new housing and provide more opportunities for home ownership across the province. This exemption is commendable, however with many new housing projects taking years to complete, it may not have the immediate
impact desired by the government.”It also said that the other changes
to Property Transfer Tax did not go far enough. “While the new three per cent threshold for properties over $2 million is intended to pay for the new home exemption, the province has missed an opportunity to raise the existing threshold levels to provide broader PTT relief for those who cannot aff ord a newly constructed home and who are not fi rst time homebuyers.”
The association added: “By not indexing the threshold levels, the province ensures that – in an environment of rising home prices – an increasing number of homes will fall within the new three per cent threshold, resulting in a higher tax burden on more home buyers.”
It concluded, “The BCREA continues to call on the provincial government to:• Increase the 1% PTT threshold from
$200,000 to $525,000;• Index the 1% PTT threshold using the
MLS® Home Price Index, and make adjustments annually;
• Index the exemption threshold for the First-Time Home Buyers’ Program using the MLS® Home Price Index, and make adjustments annually.”
BC Budget 2016: First-Time BuyersSidelined, Local New Home Buyers Win
•2 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016
TONY FILIPPELLI“Serving you, your family and friends for 30 years now”
west real estate
545 YALE RD.,PORT MOODY
• 180 Degree Ocean View
• Extensive Renovation
• Over 3800 sq ft on 3 levels
• 9872 sq ft Lot
415-600 KLAHANIE,PORT MOODY
• Top Floor• Huge Deck. S/E View• Gorgeous Interior Finishing• 2 Bedroom, 2 Bath• 2 Parking Spots
$1,588,800
$478,800
off 604.939.6666www.tonyfi lippelli.ca tony_fi [email protected]
#10 Royal LePage Realtor in BC 2015#10 Royal LePage Realtor in BC 2015#1 Royal LePage Realtor for Tricities in 2015#1 Royal LePage Realtor for Tricities in 2015
20152015 20152015MonetTYLERTYLER
[email protected] ❚ 604.763.4307 ❚ www.monettyler.com
SussexSussex
3456 Wilkie Avenue, Burke Mtn $1,038,000
SOLDOVER ASKING
20113 120A Avenue, Maple Ridge $708,000
215-960 Lynn Valley Road, N. Van $328,000
NEWLISTING
75 Fernway Drive $938,000
NEWLISTING
81 Fernway Drive $918,000
NEWLISTING
125 Fernway Drive $978,000
SOLDOVER ASKING
NEWLISTING
HELEN ROOZENDAAL604.939.6666
Head & Shoulders Above the Rest
West Real Estate Services
OPPORTUNITYKNOCKS
Great opportunity in the heart of Coquitlam's Town Centre. Squeaky clean with smartly updated flooring and spacious, open floor plan. Light, bright and well maintained featuring 2 bedrooms, 1 bathroom and a huge balcony overlooking the courtyard. Other features include insuite laundry and plenty of storage. This lovely home is within walking distance of Coquitlam Centre, Aquatic Centre, Glenpine Seniors Centre, Douglas College and all forms of transit including Westcoast Express and the soon to be completed Evergreen Line. Age restricted to 19+. Sorry, pets or rentals are not permitted. Offered at $229,900. Call now.Helen Roozendaal 604-939-6666
Thinking of a Real Estate Career?You are invited to a career seminar on March 8, 2016, 7pm-9pm at Royal LePage West Real Estate Services, 101-2264 Elgin Ave, Port Coquitlam.
To register or for more information please contact Cora Toth, Leah Baynes-Bettger or Sandra Stevens at 604-939-6666 or [email protected]
REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016 3•
Phone now for a no cost market evaluation - a $450 value!www.kimwoodley.com * [email protected]
Kim Woodley604-657-9323
Helping you is what I do!
Located in Coquitlam’s prestigious Lake District this home has been beautifully custom built with over 5,000 sqft of luxury and high end fi nishes and exudes pride of ownership throughout. Four huge bdrms up, each with bathrooms along with a lavish master bdrm that features a spa-like ensuite. Main fl oor includes gourmet kitchen, family room, grand foyer, formal dining room, living room and generous offi ce. The lower level provides a spacious media room, three baths and adjoining laundry annexed to two unauthorized suites. Additional enhancements include: seven bdrms, seven baths, laundry off kitchen, crown moldings throughout – some with backlights, extensive detail in moldings and casings with a coffered ceiling in dining room and recessed ceiling with obscured lighting in family room, in-fl oor hot water on all three levels, high quality tile, laminate and engineered fl ooring throughout, 400 sqft of covered deck with gas and 2x6 and rainscreen construction along with plywood subfl oor throughout.
List Price $1,999,888
1059 CORNELL AVENice 4 bedroom - 3 bathroom basement/split entry home on a large corner lot with private fenced backyard. Original hardwood fl oors upstairs, living room has gas fi replace and French doors leading out to covered balcony out front with Mt. Baker views to the east. Kitchen has stainless steel appliances, breakfast bar and access to private covered deck out back. Huge master bedroom with ensuite, lots of closet space and French doors leading out to covered back deck. Downstairs features the ultimate “Man Cave” with an English Pub like setting complete with bar, dart board area and pool table. There are also 2 bedrooms and kitchen downstairs giving you the option for extended family or possibly rent out. Wired workshop/shed out back. Great character and potential.
List Price $799,900
1602 PITT RIVER RDVery desirable, family oriented Central Coquitlam location. Large (1882 sq ft) rancher with three bedrooms, 2 bathrooms with 4th bedroom/family room/In-law suite option. Recent updates include 300 sf sunroom off kitchen, windows, fi replace, workshop and more. Great 78 foot lot, private, fenced with RV parking. Walk to all amenities and all levels of education.
List Price $989,888
461 MONTGOMERY ST
This beautiful home ticks off all the boxes! Three spacious bedrooms (one a large den) on one level, two baths, two parking, corner unit, massive patio plus a private “champagne deck” off the mstr bdrm. This mostly upgraded home is immaculate, just move in and enjoy! The kitchen features upgraded counters, cupboards and new S/S appliances. You will love the pantry! The LR and DR exude warmth, with help from the gas fi replace! There’s a lot of windows in this corner unit and beautiful laminate fl rs. Fresh paint and newer lighting throughout! The massive fenced patio is private, could be changed back to a grassy area. Rainscreened building for your peace of mind. Walk to IKEA, Superstore and Silver City; short walk/ride to Skytrain. 2 dogs any size, limited rentals.
List Price $389,500
#54-206 LAVAL ST.One of Coquitlam’s fi nest neighbourhoods. Homes on this street rarely become available. Immaculate 65 x 143 level lot, back yard with westerly exposure. 2 level home, lovingly maintained by current owners, and extensively remodeled over the years from top to bottom. Home features hardwood throughout main, 4 bdrms, 3 baths, warm family room off kitchen with access to a large deck overlooking a beautiful back yard. 3 fi replaces, high effi ciency furnace with heat pump (A/C). A wonderful place to call home!
List Price $1,390,000
936 JARVIS ST.TWO LEGAL RT-1 LOTS. Already subdivided into two legal entities with nonconforming three-plex in middle of property. Three frontages, LeBleu, Alderson and lane with large garage on corner of one lot. The home has high revenue and is a solid, extremely well maintained investment property. The other option is to build - no subdivision necessary. Start building two homes (3 level) with garage and carriage home off lane. RT-3 potential also. For Information Package text Realtor.
List Price $1,688,888
231 LEBLEU ST.
OPEN! SOLD! SOLD!
SOLD! SOLD! NEW!
OPEN HOUSEOPEN HOUSEMAR 5th & 6th, 2 TO 4 PMMAR 5th & 6th, 2 TO 4 PM
Brookside RealtyChad August
604.318.5254604.318.5254WWW.CHADAUGUST.COMWWW.CHADAUGUST.COM
NEW LISTING24298 100B $599,900
2 storey + bsmt 2800 sqftBacks onto greenbeltImmaculate inside
R2036491R2036491
26525 121st UNDER CONSTRUCTION $1,499,900
Over 5000 sqft of livingMaster on mainHuge separate detached shopStill to to customize
11920 228th $2,660,000
Almost 1 acre of development land zone RM-6Previous high rise siteCall for info package
NEW LISTING 21336 River Road
2500 sqft 2 storey + bsmt8500 sqft private lot
$649,900
NEW LISTING #112 12238 224th St., MR
1 bed + den (could be 2 bed), 1 bathUpdated throughout - new fl oors, paint and fi xturesPopular Urbano, investor friendly
V1143168V1143168 V1127619V1127619
R2037593R2037593
2 PENTHOUSE UNITS
1003-12069 Harris Rd $1,368,000
R2016194R2016194
Just under 2300 sq ft 2 bed + denSpectacular views
1006-12067 Harris Rd $1,248,000
R2106903R2106903
Over 2000 sq ft 2 bed, den + media Great s/w views
R2028384R2028384
JUST SOLDJUST SOLD
Brookside Realty 11933 224th Street Maple Ridge, BC
www.MRROGERS.cawww.MRROGERS.ca
"MR. ROGERS""MR. ROGERS"Luke
604.780.2304eeeeeeeeeeeeeeeee444444444444444444444444444444444444
GlennGlenn604.790.2345604.790.2345
11070 238th Street, Maple Ridge
Loads of recent updates & Chefs kitchenLarge Greenbelt yard & 2 bed suite $728,900
NEW LISTING
#503 12148 224th, Maple Ridge
Seniors 55+ or better only please, Maple Ridge has Great Senior amenities and Programs, come see
12460 Ansell Academy Park
CALL LUKE FOR MORE ACADEMY PARK ESTATES COMING AVAILABLE!
JUSTJUST
SOLDSOLD
CALL
"MR. ROGERS"TODAY
FOR THE MAPLE RIDGE &
PITT MEADOWS AREAS.
Let us welcome you
to the neighbourhood.
"MR. ROGERS"
26051 102nd Street, Maple Ridge
1 acre estate – live the life! Rancher featuring 3 bed 2 bath. Urban Reserve.
12640 Ansell Academy Park
Million $ VIEW in Executive Neighbourhood1 acre estate home, Pool and Privacy
PENDINGPENDING
OFFEROFFER
OPEN HOUSE SAT & SUN 2-4 PM
NEW LISTING
NEW LISTING$728,900 $729,900
$1.595 MILLION
•4 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016
Each offi ce independently owned and operated
Port Moody $1,198,888
4 Parkwood Place• Spotless home on a quiet cul-de-sac close to schools on Heritage Mtn.• Beautiful private-fenced rear yard with patio & hot tub with gazebo• Nothing to do but move into approx. 3200 sq/ft home• 3 bedroom home with lovely fi nished basement featuring separate entrance• Massive master bedroom, lovely ensuite with soaker tub & large walk-in closet
OpenSat 2-4
Coquitlam $2,980,000
3016 Plateau Boulevard• Astonishing home in Westwood Plateau!• Substantially renovated and upgraded in 2010• Over 7200 sq/ft on 3 levels, 6 bedrooms, 6 bathrooms• View of mountains and a cozy private backyard• Too many features to list!Please contact William Tian at 778-990-5036
OpenSun 2-4
Centre Realty 604.435.9477
Tony Alves604.889.7008
www.tonyalves.ca • [email protected] [email protected]
Teresa Pang604.617.0189
407-4310 HASTINGS STREET, BURNABY • $368,000The “Union” on the Heights, is a high quality low-rise concrete building built by Mosaic. This luxurious unit on the upper floor, faces South with great views of Brentwood and Metrotown Mall skylines. Quiet side of the building. Superb finished inside with radiant heat, wood floors, gourmet kitchen with s/s appliances and quarts tops. Step outside and enjoy the very diverse and lively atmosphere of the local shops, restaurants and fruits and vegetables. Huge rooftop deck gorgeous views.
OPEN HOUSE
SATURDAY & SUNDAY 2-4 PM
Hassenn ‘The Good Guy’ 604-802-4454
“I take pride in putting my clients needs first!”www.TheGoodGuy.ca
RE/MAX All Points RealtyHassenn KhaseipoulPERSONAL REAL ESTATE CORPORATION
Coquitlam$1,589,000 + GST
This brand new luxury home located in sought after “Canyon Springs” blocks from all kinds of schools, Douglas College, Coquitlam Centre Mall and future skytrain station. This 3 level home is over 4000 sq ft and has a 2bdrm legal suite and gorgeous views of the mountains.
Rare OpportunityRare Opportunity
Burnaby$1,498,800
Completely renovated 5bdrm and 3 bath home located in a good family neighbourhood. Walk to Lougheed Town Centre and Skytrain station. This home is located across from a quiet park with gorgeous mountain views
Tastefully renovated!Tastefully renovated!
Coquitlam West$2,580,000 + GST
Move in to over 6000 sq. ft. with 8 bedrooms & 7 bathrooms. Over 8000 sq ft south facing lot with back lane access. This house has it all! Close to Burnaby border! MUST BE SEEN! Ask us how we can help you to upgrade to this gorgeous home! Check the video on our website.
Brand new luxury homeBrand new luxury home
Coquitlam$84,500
2 bdrm & den double wide manufactured home located in family-friendly Park with Lots of updates! Amenities includes swimming pool, tennis court and club house. Just 5 minutes from Hwy 1 and Skytrain.
Affordable HomeAffordable Home
Oxford Heights, Port Coq $838,800
Beautiful 5 bedroom home in a great family neighbourhood. Some of the many updates include roof, gutters, kitchen with granite counter tops, stainless steel appliances, and more. Long wide driveway is perfect for your RV or Boat.
Feels Like a Home!Feels Like a Home!
CoquitlamRanch Park
$898,000Beautifully updated 4 bdrm and 3 bath home located in prestigious Ranch Park. Over 11,000 sq ft lot and mountain view. Walk to future Skytrain and Coquitlam Centre Mall.
JUST MOVE INJUST MOVE IN
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Managing Broker206-1120 Westwood Street, Coquitlam BC, V3B 7K8T: 604 942 1389 www.evergreenwestrealty.com
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REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016 5•
425 Montgomery Street, Coquitlam
Open House every Saturday & Sunday 1-4 pm
Visit my websiteThomashomes.ca
Give me a call 604.562.3841
TDH HOMES LTD©
Thomas HomesSHOW HOME
Brooke Alexander604-813-1044DEXTER ASSOCIATES REALTY
SPACIOUS SUITE, LARGE PATIO,
AMAZING LOCATION!
$369,900
End 1362 sq ft, 2 bdrms, 2 bths, make it your own! 350 sq ft priv patio w sep entry & 2 parking. Insuite laundry, kingsize master & large ensuite.1A - 501 COCHRANE AVEBrooke Alexander604-813-1044
www.dexterrealty.com
604-689-8226 Yaletown
604-336-3539 Main Street
604-263-1144 KerrisdaleTaking our
Listings Global
$260,000
2 BED + OFFICE IN BRENTWOODInvestors & First Time Buyers - This fabulous condo is for you! Great home; great value; great investment. Well managed building. Desirable neighbourhood on tree-lined street. Short walk to Brentwood Mall, skytrain, restaurants. Springer Park across street. A MUST SEE! #208-1945 Woodway PlAlan Yasin & Lori Pettigrew 604-649-7040
$229,000
2 BEDROOM AT KEY WESTSPACIOUS open concept condo in fantastic location! Close to schools, shopping, transit and highways. Refreshed with new paint throughout and new laminate fl oor in 2nd bedroom/den. Cozy up to the gas fi replace in the winter and enjoy BBQs with friends on the large patio in summer! Welcome home! 102-1999 SUFFOLK AVE.Vaune Kolber 604-506-7534
$1,350,000
CENTRAL PARK DUPLEX LIVING!Located on a quiet cul-de-sac, this quality built 5BR 1/2 duplex is situated in a prime central location. Walking distance to Moscrop Secondary, Central Park and Joyce Skytrain. New fl ooring throughout, 12 ft ceilings, S/S appliances, granite counters, and a gorgeous solarium make this a must see!5236 DIVINE PLACE.Matthew Chow 604-889-8103
$878,800
OPPORTUNITY KNOCKSLarge 6 bedroom / 3 bathroom home centrally lo-cated in Sapperton. Mortgage helper in place. Great for 1st time buyers or investor. 126 Braid Street.The Go Team 604-263-1144
$598,800
CITY OASISAbove ground garden level 3 bedrooms / 2 bath-rooms with 340+ sq.ft. Fenced patio in High Gate. 2 parking + locker. Pet and rental allowed. #201 - 7325 Arcola StreetThe Go Team 604-263-1144
$699,000
Most desirable location with gated front yard and private large balcony. 3 bed & 2.5 bath Townhome in Terramor.17-9088 Halston CourtThe Go Team 604-263-1144
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MARILOU APPLEBY604-263-1144
DEXTER ASSOCIATES REALTY
SMART MONEY LANDS HERE
6975 ARCOLA ST. $1,188,000
Solid mature beauty is ready to go. This well-cared for 5 bdrm/3 bath family home has many options for the astute buyer. Ask me about possible land assembly. Close to great schools, shopping and transit. Private viewing only.
•6 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016
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REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016 7•
8
RESALE HOME LISTINGS | NEW HOMES FOR SALE | AGENT PROFILES | REAL ESTATE MARKET NEWS | HOME BUYING & SELLING ADVICE
Your one-stop source of lower mainland home listings and real estate news.
•8 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016
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REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016 9•
LIVE.GROW.ENJOY.
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THIS IS NOT AN OFFERING FOR SALE. ANY OFFERING CAN ONLY BE MADE WITH A DISCLOSURE STATEMENT. PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE E.&O.E.BUILDING TRUST FOR THREE GENERATIONS
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•10 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016
REW.ca » BURNABY / TRI-CITIES » WEDNESDAY MARCH 2, 2016 11•
COMING SOON
LIVING TOTHE FULLEST
3096 Windsor Gate, Coquitlam
604.942.8416
Introducing The Lloyd by Polygon, the newest collection of
high-rise homes in Coquitlam’s master-planned community
of Windsor Gate. A rare combination of seamless architecture,
picturesque streets and a stunning private clubhouse set in
a convenient central Coquitlam location.
POLYGON LLOYD TOWER LTD.
POLYGON WINDSOR GATE LTD.
FOR MORE INFORMATION VISIT POLYHOMES.COM
This is currently not an offering for sale. Any such offering can only be made by way of a disclosure statement. E.& O.E.
BURNABY • TRI-CITIES
Looking for a newhome? Start here.
R E A L E S T A T E W E E K L Y
W E D N E S D A Y , M A R C H 2 , 2 0 1 6
I n P r i n t > O n l i n e > Y o u r c o m p r e h e n s i v e s o u r c e f o r l o c a l r e a l e s t a t e n e w s a n d l i s t i n g s
Investment in home build-ing in BC increased nearly 12.6 per cent year over year
in December to $713 million, according to Statistics Canada fi gures released February 22.
Single-family home construc-tion saw the largest total invest-ment of the four property types at $327 million, a rise of 4.9 per cent compared with December
2014, although this was a sea-sonally predictable drop of 9.2 per cent month over month.
Multi-family construction in the province was a close second in total investment at $303 mil-lion spent in December. But this fi gure was again a much steeper pace of annual growth, at 25.5 per cent more than December 2014. The fi gure was a decline
of 10.1 per cent compared with November.
Although spending on town-house and row home construc-tion is much lower, the fi gure keeps rising steadily, up 15.6 per cent year over year to $62 mil-lion in December. This was fall of 15.4 per cent from November 2015.
Continuing the trend of the last several months, the only new home type to see an annu-al decline in investment in December was duplex housing, spending on which fell nearly 19 per cent year over year to total less than $23 million, a
slight rise of 2.3 per cent from November.
As usual, the province’s total $713 million new home construc-tion spend was once again the third-highest dollar fi gure in the country, after Ontario and Alberta.
BC’s 12.6 per cent annual increase in December was again the second-sharpest rise in new home investment, with only Ontario outpacing the province, as Alberta’s total was a near-16 per cent drop compared with December 2014.
Across the country, investment in new home building rose at a much more moderate pace than BC’s, with its total of $3.9 billion in December a rise of 4.8 per
cent from the same month a year earlier and a drop of 10.2 per cent compared with November.
As with last month, the stron-gest growth in Canadian con-struction investment was seen in multi-family home buildings, which rose nearly 24 per cent year over year. There was also some increased spending on townhomes and row homes, up 3.4 per cent since the previous December.
Statistics Canada yet again reported notable year-over-year declines in nationwide spend-ing on single-family housing and duplexes, with investment in these homes dropping 3.4 per cent and 16.2 per cent respectively.
BC’s New Home Construction Spending Sees Warm December: StatCan
