Canadian Inflation (Jan) - February 17, 2021

Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in January year-over-year. The increase was largely due to higher gasoline prices (6.1%). Excluding gasoline, the CPI rose by 1.3%, which is up from 1.0% in December. Prices rose in seven of eight components year-over-year in January. Growth in the Bank of Canada's three measures of trend inflation inched up slightly, averaging 1.5%. 

Regionally, the CPI was positive in eight provinces, led by Newfoundland and Labrador (1.5%). In BC, CPI rose by 1.1% in January year-over-year, up from December's increase of 0.8%. Strong price growth continued for health and personal care and shelter. Home furnishings also pulled

Canadian Housing Starts (Jan) - February 16, 2021

Canadian housing starts increased by 23% m/m to 282,428 units in January at a seasonally adjusted annual rate (SAAR), following a 12% decrease in the previous month. Housing starts increased in 6 of 10 provinces with the strongest gains in Quebec and Ontario. January's strong performance increased the six-month moving average to a historic high of 244,963 units SAAR.  

In BC, housing starts decreased by 17% m/m to 35,931 units SAAR in January, following a 12% decrease in the previous month. Building activity was down by 28% for multi-unit starts, while single-detached starts were up by 38% in January. Compared to the same time last year, housing starts were up by 24% in BC. 

We can expect

Record low inventory coupled with persistent demand continued on into the new year. The Vancouver Island Real Estate Board area, in the first month of 2021, had 286 single family homes sold, up 66% from the same month last year. Condo sales also increased year over year as many buyers were pushed into this segment (up 46%). In a slight respite from the flurry of activity though, sales were actually down 5% and 26% respectively, compared to December 2020 board-wide.

Very likely, the slight decrease in sales from December to January is actually a product of the dwindling inventory. The end of January saw 420 active single family homes available on the market (compared to 421 at the end of December) and 212 condos (down 9% from December). January is

A Record-Setting Start to 2021

Vancouver, BC – February 11, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 7,169 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2021, an increase of 63.3 per cent over January 2020 and over a thousand sales higher than the previous record for the month of January. The average MLS® residential price in BC was $845,169, a 16.1 per cent increase from $728,269 recorded in January 2020. Total sales dollar volume was $6.1 billion, an 89.6 per cent increase from last year.

“It was once again a record-setting month for the provincial housing market,” said BCREA Chief Economist Brendon Ogmundson. “While sales were strong across all regions of

The Victoria Real Estate market continued strong out the gate in 2021. Selling 57.2% more units than the same month the previous year, January 2021 came in at a total of 646 sales. Our team had our busiest January on record selling 2.3% of all properties sold in VREB or 1 in every 43 sold in Janaury! The most significant bump in year over year sales was in the condo segment which was up 83.1% with 216 sales compared to January last year. There was a higher volume of single family homes sales with 297 units changing hands, but only 48.5% more than Jan 2020. Of course the sales data here does not necessarily reflect the current demand. It is likely that there simply wasn’t enough single family listings on the market to keep up with the demand in that

Family Home w/ Suite on 0.6 Acres

Investor Alert!!

Bring your interior design ideas to this nearly 3400 sq ft home with massive, and sub-dividable, 27,000 sq ft (0.6 Acre) lot w/ West facing green space and plenty of parking.

Potential subdivision/Develop/Holding property & keep existing house!

The open floor plan flows nicely between the large living space with a wood-burning fireplace, vaulted ceilings, and oak hardwood floors, to the open kitchen/dining area, and all 4 bedrooms and  4-piece bathroom to the back of the home.

The bright 1 bed plus den and 4-piece bath revenue suite downstairs with separate entrance offers a fantastic mortgage helper and has been nicely updated.

With a few major upgrades completed such as new

Professional Equestrian Centre and Custom Home on Quiet Country Road

Pristine horse facility with a gorgeous custom built home, barn and indoor arena.

All perfectly and thoughtfully laid out on two flat, sunny, well-drained acres.

Designed for ease and comfort for the professional equestrian or hobby farmer.

Conveniently located on a quiet country road in North Saanich, just 6 minutes from the airport or Sidney and 10 minutes to the ferry.

Designed by the still original, professional equestrian owner and built-in 2005 by JF Construction (Jake Friesen), this home's warm, open and bright floor plan enjoys excellent natural lighting.

All primary rooms also enjoy the beautiful view of the horses looking across the private

Canadian Employment (Jan) - February 5, 2021

Canadian employment lost 213k jobs in January (-1.2%, m/m), representing the second consecutive decline since April 2020. This left the employment level 4.5% below its February 2020 pre-pandemic level. The decline was once again led by part-time employment, while full-time positions continued to see improvements in January. Job losses were concentrated in Ontario (-154k) and Quebec (-98k), as extended restrictions continued to negatively impact retail, food services and accommodations, and culture and recreation. The national unemployment rate increased by 0.6 percentage points to 9.4%, which is still a fall from the record high of 13.7% in May 2020. Compared to the same month last year,

Executive Rancher with Suite

Executive Rancher with Suite close to parks and trails this beautifully finished home offers one level living close to Cobble Hill Village and view of Cobble Hill Mountain close to hiking trails and parks, centrally located near shopping and bus stops.

Located on a quiet street in a family neighborhood with a double car garage, RV parking, a fully fenced backyard, and a large deck with Pergola for entertaining.

This 4 bed, 3 bath home boasts maple hardwood floors, two fireplaces with Natural Gas available, beautiful quartz countertops in the kitchen, and even a media room on the lower level.

With 3 bedrooms on the main level and 1 bedroom on the lower level for a potential suite if desired.

This home is move-in

Canadian Monthly Real GDP (Nov) - January 29, 2021

Canadian real GDP grew by 0.7% in November, following a 0.4% increase in the previous month. This is the seventh consecutive monthly gain since the steepest drops in Canadian history was observed in March and April. This brings GDP 3% below the February pre-pandemic level of output. Fourteen of the twenty industries reported an increase in output. 

Leading the increase were the mining and oil and gas sectors (3.9%) due to higher international demand. Manufacturing was up (1.7%) as a result of higher inventory formation, and multiple global COVID-19 vaccine announcements drove activity in finance and insurance (1.3%). In contrast, declines were reported at clothing stores (-5.4%), personal care