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March 2021

Found 25 blog entries for March 2021.

bcrea nowcast

BC Monthly Real GDP Estimate for January 2021 & Preliminary Estimate for February 2021 (Updated: March 31, 2021)


The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for January 2021 is 1.4 percent.  We have also included a preliminary estimate for February 2021 of 2 percent. Because the BCREA Nowcast is a year-over-year measure, we expect to see very large growth in coming months due to base-year effects as strong incoming 2021 data is compared to the lowest point of 2020 during the initial stages of the COVID-19 pandemic.

Download the full report (PDF)

For more information, please contact:

Brendon Ogmundson
Chief Economist
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Canadian Monthly Real GDP Growth (January 2021) - March 31, 2021

It was a strong start for the Canadian economy as real GDP expanded 0.7 per cent on a monthly basis  in January.  The increase in January marks the ninth consecutive month of positive economic growth, however, total economic activity is still about 3 per cent below its pre-COVID-19  level.  With the strong start to 2021, first quarter real GDP growth is tracking at 5.5 per cent on an annualized basis.

An acceleration of vaccinations appears to be on the immediate horizon. As that roll-out progresses, we expect pent-up spending throughout the economy to be unleashed, driving a strong economic recovery. Following an unprecedented contraction in 2020, we expect the Canadian

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COVID-19 Recovery Dashboard - Mar 24, 2021

This month’s COVID-19 Recovery Dashboard shows that near-record sales in Metro Vancouver, combined with unprecedented housing demand outside of Metro Vancouver, continued to drive a blistering pace of home sales in BC. Employment in retail and recreation are showing signs of recovery, but employment in accommodations and food services remains weak. Meanwhile, the number of people employed in high-wage positions continues to increase, supporting housing demand. Retail is starting to pick up again after a slow end to 2020. As the rollout of the vaccine accelerates, we can expect pent-up spending throughout the economy to be unleashed, driving a strong economic recovery. For a more comprehensive

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Canadian Retail Sales (Jan) - March 19, 2021

Canadian retail sales fell in January by 1.1% m/m on a seasonally-adjusted basis. This is the second consecutive monthly decline since April 2020. Sales were down in 6 of 11 subsectors, representing 39% of retail sales. Clothing and clothing accessories stores led the decline, down for a fourth consecutive month. Notable declines were also reported at furniture and home furnishing stores. Compared to the same time last year, retail sales were up by 1.3%.  
Sales were down mainly in Quebec and Ontario, where stricter lockdown measures were in place. In BC, seasonally-adjusted retail sales rose by 4.4% m/m ($8.4 billion) and by 4.4% m/m ($3.7 billion) in Vancouver. On a non-seasonally

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Canadian Inflation (Feb) - March 17, 2021

Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.1% in February year-over-year. The increase was again due to higher gasoline prices (5%). Excluding the volatile gasoline component, the CPI rose by 1%, which is down from 1.3% in January. Prices rose in all components of the CPI except for clothing and footwear. Growth in the Bank of Canada's three measures of trend inflation remained unchanged, averaging 1.7%. 

Regionally, the CPI was positive in all provinces, led by Quebec (1.6%). In BC, CPI rose by 0.9% in February year-over-year, down from January's 1.1%. Strong price growth continued for health and personal care, shelter, and food. Transportation costs

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Beautiful Family Home

Beautiful family home in Shawnigan Lake a large very private half acre usable flat lot. 

Open and un-treed its an ideal candidate to add a detached garage or shop, bring the RV or boat and have extra parking and space for the kids to play. The back portion of the yard is fully fenced and offers an expansive deck complete with a built-in hot tub, pergola equipped with electricity and cable, a fire pit and shop also with power. 

Off the deck, you will find an easy-care no maintenance yard with raised garden beds and a shed. Situated with CRD land all along one side this truly is a private paradise. This family home is one level living with open floorplan and vaulted ceilings. 

The large spacious kitchen has

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New Home + Garden Suite + Double Garage on Large Gonzales Lot


Quality New Home with detached Garden Suite plus double garage "To Be Built" on extremely rare 10,824 sq ft lot with R1-G Zoning in the heart of Fairfield East / Gonzales area bordering South Oak Bay.

Just a short walk to The Dallas waterfront, Gonzales Bay Beach, and many beautiful parks! Ideally situated on the south side of a tree-lined, quiet street, this large, flat lot is ready for your dream home and your family's future!

Builder onside to build your own custom home or the already approved plans, or choose your own builder. 

Approved plan with a permit in place is for a 4 bed/5 bath, 2 story home with lower level.

There are 2 bedrooms with 5-piece ensuite

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Level Clear 10,824 Sq Ft Building Lot


Build your dream home on this extremely rare 10,824 square foot level and clear R1-G Zoned lot.

Permit in place now for the garden suite. Also might be able to rezone to build a duplex or even subdivide it into 2 lots.

In the heart of sought-after Fairfield East, bordering South Oak Bay and just a short walk to The Dallas waterfront, Gonzales Bay Beach, and many beautiful parks!

Ideally situated on the south side of a tree-lined, quiet street, this large, flat lot is ready to start building your dream home immediately!

Or build the already approved plans for a four-bedroom and five-bathroom home plus detached double car garage and two bedrooms detached and self-contained Garden Suite.

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2008 Home with Suite


Located in highly desired Cordova Bay, this 2008 built custom West coast home with a separate suite is just minutes from the beach, close to schools, parks, lakes, and golf.

The main floor is well laid out with a cozy living room and gas fireplace, bedrooms on separate sides of the house opening up into an open concept living area.

Beautiful fir doors open up to generous-sized bedrooms including a master suite with a walk-in closet and a nicely finished ensuite with heated tile floors.

The bright maple floors lead you to the expansive open kitchen/living area with vaulted ceilings and your second gas fireplace.

The modern kitchen includes quartz countertops, premium appliances, and a gas stove which opens up

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Bright and Private Executive Family Home


Immaculate South Oak Bay estate set on a large lot offering over 10,000 sq feet of gorgeous park-like landscaping w/pure SW EXPOSURE.

Inside you will find a modern open layout perfect for Families & executives.

The main level offers a beautiful open concept design including two living spaces with gas fireplaces, separated by a dining area which all open to the large back patio, perfect for entertaining.

The gorgeous chef's kitchen has plenty of storage, High-end stainless steel appliances w/ gas range, quartz counter-tops large bar area with seating for 6, and a breakfast nook.

The main level is completed with a spare bedroom, 3 piece bath, well-appointed den/office, hardwood floors both up

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