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All Blog Entries by Ron Neal

Found 476 blog entries published by Ron Neal.

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Canadian Real GDP Growth (Q4'2020) - March 2, 2021

The Canadian economy expanded at a 9.6 percent annual rate in the fourth quarter of 2020. Growth was led by increased government spending, business investment, and investment in new home construction and renovations as well as a large change in business inventories as large drawdowns of inventory from previous quarters reversed.  For 2020 as a whole, the Canadian economy shrank 5.4 percent, the steepest decline since quarterly GDP data were first recorded in 1961. Interestingly, the household savings rate registered 12.7 percent, the third consecutive quarter of double-digit saving rate.  Remarkably, total household savings in 2020 matched the cumulative savings of the previous seven years

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Commercial Indicator Reaches High in Q4 2020

The BCREA Commercial Leading Indicator (CLI) reached a new high since the start of the series in 1999. The CLI rose from 139 to 144 in the fourth quarter of 2020, representing the second consecutive increase after four consecutive quarterly declines. Compared to the same time last year, the index was up by 5 percent.

Although the CLI is responding to a sharp rebound in economic, financial, and employment conditions, there is more here than meets the eye. Growth in these conditions would normally imply an improvement in demand for retail and office space. However, the complexities of the COVID-19 pandemic and related public health restrictions are driving a wedge between what we see in the

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bcrea nowcast

BC Monthly Real GDP Estimate for December 2020 & Preliminary Estimate for January 2021 (Updated: March 2, 2021)


The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for December is 0.3 percent. For comparison, output in the Canadian economy was almost 3 percent lower year-over-year in December. The preliminary estimate for January 2021 year-over-year growth is 0.5 percent. We estimate that the BC economy contracted at a 5 percent rate in 2020, while the Canadian economy shrank by 5.4 percent.

Download the full report (PDF)

For more information, please contact:

Brendon Ogmundson
Chief Economist

BCREA is the professional

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See the Potential!


See the Potential!

This 2 bedroom + den, 2 bathroom house can be a great money-maker for the investor or a magnificent opportunity for a first-time homebuyer.

In an established part of town, close to schools, VIU, transit, shopping, and recreation, this .20-acre lot can accommodate a carriage house or maybe rezone for duplex potential.

This lot has a newer duplex on one side and a City park on the opposite side with a lane in the back. 

Built-in the 1900s, the siding was replaced in 2007, the new hot water tank and refurbished furnace in 2012, oil tank replaced in 2005, 200-amp panel, and electricity to storage shed.

With some TLC, repairs, updating, and elbow grease, you can personalize this home and

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This month’s COVID-19 Recovery Dashboard shows that home sales once again set a record. While sales were strong across the province, the Fraser Valley, Thompson Okanagan, and Vancouver Island regions shattered previous sales records and pushed January sales to new heights. The rise in COVID-19 cases and enhanced health restrictions have slowed employment recovery in select sectors, particularly in hospitality. Meanwhile, the number of people employed in higher-wage positions continues to increase, encouraging housing demand. Manufacturing and trade are back to pre-pandemic levels, which bodes well for BC's economic growth going forward. For a more comprehensive overview of BC's economic recovery, click here

About BCREA’s COVID-19

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Highly desirable Chateauneuf building


Welcome to 306 - 1149 Rockland a large two bedrooms two bathroom suite found at the back of the building for maximum privacy. 

The highly desirable Chateauneuf building is located in the charming Rockland/Cook street village and is surrounded by mature gardens and stunning grounds. 

This home is move-in ready and freshly painted or a Buyer could update further with this home priced below assessed value. 

Two balconies to take advantage of the sun all day long and large windows creating loads of light. 

A desirable floor plan with the bedrooms separated and an open floor plan with a large family room, separate dining room, and galley kitchen. 

In-suite laundry, separate storage, parking

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Large 5 bedroom home with a 2 bedroom suite on a generous sized lot in the Westshore


Welcome to 1014 Sandalwood a large 5 bedroom home with a 2 bedroom suite on a generous sized lot in the Westshore.

Open concept floorplan with coved ceiling and large rooms.

Extra sound insulation added, a deck perfect for summer night bbq’s leads down to your completely flat usable back yard.

The suite has its own separate laundry and entrance.  

Both up and down are currently tenanted and would be happy to stay.  

Great income property or bring your family, more details to come.











Find Out More About 1014 Sandalwood Court

Talk to our team to learn more about this large 5 bedroom home…
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Canadian Inflation (Nov) - December 15, 2020

Canadian retail sales fell in December by 3.4% m/m on a seasonally-adjusted basis. This is the first decline since April 2020. Sales were down in 9 of 11 subsectors, representing 84% of retail sales. Compared to the same time last year, retail sales were up by 3.3%.  
Sales were down in all provinces for the first time since April 2020. In BC, seasonally-adjusted retail sales fell by 2.2% ($7.9 billion) and by 2.1% ($3.5 billion) in Vancouver. Contributing the most to the decline were sales at auto dealers. Compared to the same time last year, BC retail sales were up by 8.9%.   

In December, Canadian e-commerce sales totaled $4.7 billion, reaching a record high and accounted for 7.8% of

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Investors? Meticulously maintained, updated, and upgraded top to bottom Saanich home


Attention Investors! Excellent revenue, tenants wish to stay. Rented up, down and garage.

Will also suit buyers from out of town not wanting immediate possession.

Need space for home business, hobbies, entertaining, extended family, and more?

Look no farther, the needle in the haystack has arrived in this meticulously maintained, updated, and upgraded top to bottom Saanich home.

The opportunities are endless: fully furnished Airbnb, home-based business, two-bedroom suite, main with deluxe master suite, separate dressing room, office and gym or guest room, with much versatility as they can be separated into a number of different spaces

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Beautiful Updated 5 Bedroom Home in Sooke


Welcome to 2013 Govenlock Place in beautiful Sooke BC. 

Updated with new floors, paint, deck, lighting, driveway and roof this generous-sized 5 bedroom and den home located at the end of a quiet street is sure to impress. 

On the main level, you will find an office or den with large bay windows, a three-piece bath with a live edge countertop and river-rock shower, and a large two-bay garage.

Upstairs is a very large open concept dining and family room surrounded by large windows creating a bright happy space. 

The cozy pellet stove warms the entire house creating both charm and reduced heating costs. 

A large glass slider leads out to a south-facing sun-drenched deck perfect for

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