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Adam Chahl

Oakwyn Realty

1286 Homer Street Vancouver, British Columbia V6B 2Y5

Phone: (604) 800-8710

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Greater Vancouver Real Estate Inflation Update - January 2023

Posted on Feb 21, 2023 in Mortgage News

Canadian Inflation (January 2023)

Canadian prices, as measured by the Consumer Price Index (CPI), rose 5.9 percent on a year-over-year basis in January, a decrease from the 6.3 percent rate in December. Slower appreciation in prices of cellular services and passenger vehicles contributed to slowing the overall pace of price appreciation. Rising inte...

Canadian Retail Sales Increase

Posted on Feb 21, 2023 in Economics

Canadian Retail Sales (December 2022)

Canadian seasonally-adjusted retail sales rose 0.5 percent in December to $62.1 billion. Sales rose in 7 of 11 subsectors but were led by higher sales at motor vehicle and parts dealers (+3.8 percent) and general merchandise stores (+1.7 percent). Core retail sales, which strips out gasoline and motor vehicle an...

Canadian Inflation Slows, Signaling Rate Pause in March

Posted on Feb 21, 2023 in Market Update

Further Decline in Inflation in January Affirms Bank of Canada Pause in March

Canadian inflation decelerated meaningfully in January despite the continued strength in the economy. Labor markets remain very tight, and retail sales continue to be strong. Nevertheless, the Bank of Canada's jumbo rate hikes over the past eleven months have tempered infl...

Strengthening Protection for Strata Property Owners

Posted on Feb 17, 2023 in Market Update

Better protection for strata property owners coming in November

Strata property owners in stratas which have been neglecting maintenance, risking higher insurance costs, will have new protections starting November 1, 2023.

Amendments to the Strata Property Act will raise the minimum amount developers and strata corporations must contribute to the con...

Canadian Housing Market Remains Weak

Posted on Feb 15, 2023 in Economics

December Housing Data Ended 2022 on a Weak Note

The Canadian Real Estate Association says home sales in January were the lowest for the month since 2009 and fell 37.1% from a year ago. The Canadian housing market has been sliding for eleven consecutive months as the unprecedented rise in interest rates--up from 25 basis points to 4.5% for the policy...

Canadian Housing Starts to Fall

Posted on Feb 15, 2023 in Market Update

Canadian Housing Starts (January 2023)

Canadian housing starts declined 13.3 percent to 215,365 units in January at a seasonally-adjusted annual rate (SAAR). Starts were down 6.9 percent from January 2022. Single-detached housing starts rose 9.5 percent to 62.9k, while multi-family and others fell 20.1 percent to 152.5k (SAAR).

In British Columbia...

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