All Blog Entries by Ron Neal

Bank of Canada Interest Rate Announcement - January 26, 2022

Canadian Retail Sales (November 2021) - January 21, 2022

Canadian seasonally-adjusted retail sales rose 0.7% to $58.1 billion in November. The rise was driven by sales at gasoline stations (+4.9%), building material and garden equipment and supplies dealers (+3.0%) and food and beverage stores (+1.0%). Core retail sales, which strips out gasoline and vehicle and parts sales, increased 0.5% in November. Part of this growth was due to price growth--retail sales rose 0.2% in volume terms.

In BC, seasonally-adjusted sales rose 0.8% in November. Compared to the same month last year, retail sales were up 3.3% in the province. In the Greater Vancouver region, sales rose 0.7% month-over-month and were up 9.4% year-over-year.

In November,

Canadian Housing Starts (December 2021) - January 18, 2022

Canadian housing starts fell to 236.1k units in December at a seasonally-adjusted annual rate (SAAR). This brings the total number of housing starts in 2021 to 271.2k, 16% above the previous record in 2004. Housing starts were down by 67.7k (22.3% m/m) in December (SAAR). Comparing year-over-year, starts were up slightly from December of 2020 (1.3% y/y). Single-detached housing starts dipped 3.4% in December to 70.8k, while multi-family and others dropped 28.3% to 165.3k (SAAR).

In British Columbia, starts were up 39.1% in December, rising to 55.3k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose

The Vancouver Island Real Estate area (Cowichan Valley all the way up to Cape Scott) had a total of 351 sales take place in December 2022. Of those 351 sales, 226 of them were single-family homes, 75 were condos and 50 were townhomes. Overall, everything was down which is not unusual for the last month of the year. Single-family home sales were down 26% from November and 47% compared to December 2020. Condos sales were down 32% from the previous month and 40% annually while townhomes were down only marginally year-over-year but 49% from November.

While seasonal factors are very much at play with respect to the slower sales, inventory is another reason things are slowing down. With record low inventory there simply isn’t enough housing stock to meet

Spacious Doublewide in Golf View Estates

Welcome to home number 140 at 7 Chief Robert Sam Lane.  

The original owner of this spacious doublewide in Golf View Estates ensures this home has been lovingly cared for.  

Situated perfectly on a corner lot at the high-end sunny side of the park with ample parking.

This home includes a covered parking garage, a spacious front porch, and a large attached workshop.

Vaulted ceilings with skylights give this home an airy open feel while still keeping the rooms separated with purpose.

The cozy family room connects to a lovely formal dining room and massive kitchen with ample countertop space and room to move.  

There is a separate eating nook with large bay windows looking out over the

This December marked the end of the whirlwind year which was 2021. It was a year that, in terms of Real Estate, was chock-full of overwhelming demand from buyers, an ever-dwindling inventory, and of course, consistent but substantial increases in home prices. 

Last year has left people feeling many different things in regard to the real estate market. For some, it was a time to cash out at all-time highs, for others it was time to get in at rock bottom interest rates, and for those who had to write 15 offers before getting one accepted, it was a time of great frustration. 

Yet ahead lies more uncertainty, both with the Real Estate market and society at large. 

December itself saw a 30.6% decrease in properties sold from November 2021 to the

Royal Bay Executive Home with Suite

Welcome to 525 Gurunank Lane! This brand new modern home is located in an enclave of executive homes on the edge of the sought-after Royal Bay community in Colwood.

Just 1.5 km from the ocean, this location is great for being outside of the hustle and bustle, yet so close to all of the amenities the Westshore communities have to offer, as well as beaches, schools, and parks like Witty's Lagoon, Esquimalt Lagoon and the trails of Hatley Castle.

Entering the modern front door you will notice the attention to detail, quality, and functionality in this build with the wooden stairs with glass railing, durable tile entrance, and plenty of closet space.

Head up the stairs to the vaulted great room

Adorable Home in a Quiet Family Neighbourhood

Welcome to 1051 Fashoda Place an adorable fee simple arts and craft home in a quiet family friendly neighbourhood.  

The perfect floor plan, the main level with nine foot ceilings offers three bedrooms, a living room and a spacious kitchen.

Down is a fourth bed and family room perfect for an in-law space, teenagers or students.

The home is located on the Galloping Goose trail ideal for an active lifestyle and is steps from bus routes and only a short walk to Happy Valley School.

French doors lead you to a fully fenced and irrigated back yard with great southern sun exposure perfect for an evening barbecue. On a no through road, single car garage and additional parking for two cars,

Housing Market Slows, but Resilient in Response to Pandemic

Vancouver, BC – January 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a record 124,854 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2021, a 32.8 per cent increase from the 94,001 units sold in 2020. The annual average MLS® residential price in BC was $927,877, an 18.7 per cent increase from $781,572 recorded the previous year. Total sales dollar volume was $115.8 billion, a 57.7 per cent increase from 2020.

“Last year was a record year for BC homes sales with seven market areas setting new highs,” said BCREA Chief Economist Brendon Ogmundson. “Listings activity could not keep up with demand throughout the year. As a

Private Home in the Highly Desirable James Bay Area

Welcome to 116 Simcoe Street in the highly desirable James Bay area only minutes to downtown Victoria and one block to Dallas Road oceanfront.

The two-bedroom home offers complete privacy on a quiet safe road with an easy walk to town, the Breakwater, and Beacon Hill.

South facing one-level living provides all the space you need while still feeling quaint and maintaining the Victorian architectural feel.

As you enter you are greeted by a large family room complete with charming original insulated wood floors a cozy fireplace and large bay windows looking out over the yard. 

On your right, there are oversized glass doors leading to a completely closed in courtyard styled