National

Real Estate Board see stability in real estate

Darpan News Desk The Canadian Press, 26 Jan, 2024 05:22 PM

The Real Estate Board of Greater Vancouver says there’s an emerging patter of stability in the commercial real estate market.

While sales were down in the third quarter of 2023 compared with the year before, the board says demand for commercial properties is starting to re-emerge.

Commercial sales in the third quarter last year totalled 1.8 billion dollars, a 20.2 per cent drop from the same period the year before.

Andrew Lis, the board’s director of economics, says it’s too soon to say if the third quarter was the bottom of the cycle, but sales remained static in the fourth quarter, which could reflect a shift toward a more positive 2024.

Prev Next

MORE National ARTICLES

Vancouver region closes out 2023 with higher home sales, average price of $1,168,700

The Real Estate Board of Greater Vancouver says December home sales rose compared with a year earlier as the region closed out 2023 with balanced market conditions despite high borrowing costs. The board says 1,345 homes changed hands in December, a 3.2 per cent increase from the same month in 2022, but 36.4 per cent below the 10-year seasonal average.

Vancouver region closes out 2023 with higher home sales, average price of $1,168,700

TransLink launches new R-6 Scott Road RapidBus for Surrey

TransLink says its new R-6 Scott Road RapidBus is now cruising the streets on what it calls the busiest bus corridor south of the Fraser. TransLink says the R-6 is geared toward Surry and Delta residents and Kwantlen University students, who can expect to shave a few minutes off their trips between Scott Road station and the Newton bus exchange.

TransLink launches new R-6 Scott Road RapidBus for Surrey

One dead in Surrey house fire

One person died on New Year's Day in a house fire in Surrey. Mounties say four occupants of the house escaped and are being treated for non-life threatening injuries.

One dead in Surrey house fire

Roman Arinder Gill & Shaun Narinder Gill charged following shots fired in Guildford

On December 30th of last year 24-year-old Roman Arinder Gill and 28-year-old Shaun Narinder Gill were charged with various firearm offences. Mounties say officers were called Friday to a report of shots fired, when two suspects fled the area in a blue Range Rover.

Roman Arinder Gill & Shaun Narinder Gill charged following shots fired in Guildford

B.C. union representing Lower Mainland transit workers issues 72-hour strike notice

A union representing more than 180 transit workers in B.C. has issued a 72-hour strike notice. CUPE Local 4500 represents workers employed by the Coast Mountain Bus Company, which runs transit operations for all of Metro Vancouver. The notice is effective at 8 a.m. local time on Wednesday.

B.C. union representing Lower Mainland transit workers issues 72-hour strike notice

1 injured in Surrey shooting

Mounties in Surrey say a man suffered serious injuries after a shooting in Port Kells Monday night. Surrey R-C-M-P say they were called to a report of shots fired on 92nd Avenue around 10 p-m where they found a 19-year-old victim with a gunshot wound.