Vancouver Sets Housing Price Record For February, More Inventory Needed

Darpan News Desk The Canadian Press, 02 Mar, 2016 02:17 PM

VANCOUVER — Housing sales in Metro Vancouver last month set a record for the month of February, with a 36 per cent jump from a year earlier.

The Real Estate Board of Greater Vancouver says 4,172 homes were sold, representing a 56 per cent hike above the 10-year sales average for the month.

About 7,300 properties are currently listed for sale in Metro Vancouver, but that's down nearly 39 per cent from February 2015.

Board president Darcy McLeod says additional housing supply is needed to meet demand in the current seller's market.

Sales of detached properties last month also went up, by 37 per cent from February 2015.

The board says the price of a detached home increased by 27 per cent, to over $1.3 million.

Prev Next

MORE National ARTICLES

Carbon Tax Would 'Kneecap' Struggling Economy: Saskatchewan Premier Wall

Wall was reacting to a report in the Globe and Mail that the federal government is eyeing a national carbon tax of $15 a tonne.

Carbon Tax Would 'Kneecap' Struggling Economy: Saskatchewan Premier Wall

Syrian Refugees In Quebec's French-Integration Classes Learning Fast, Having Fun

Elementary school teacher Evelyn Bissonnette asks her 14 young students to stand up, one by one, and introduce themselves.

Syrian Refugees In Quebec's French-Integration Classes Learning Fast, Having Fun

John McCallum, Jane Philpott Cancelling Controversial Cuts To Refugee Health Care

Starting in 2017, they'll also extend coverage to certain refugees before they even arrive in Canada, including picking up the tab for the medical exams they need to pass in order to move here.

John McCallum, Jane Philpott Cancelling Controversial Cuts To Refugee Health Care

Liberals Didn't Sign Off On Saudi Arms Sale But Will Let It Stand, Says Stephane Dion

Foreign Affairs Minister Stephane Dion says the Liberal government does not necessarily approve of Canada's sale of $15 billion worth of light armoured vehicles to Saudi Arabia, a country with a dismal human rights record.

Liberals Didn't Sign Off On Saudi Arms Sale But Will Let It Stand, Says Stephane Dion

Decision On Storing Ontario Nuclear Waste Delayed Again For More Study

The federal government has again delayed a decision on Ontario Power Generation's plan to bury nuclear waste at the Bruce Nuclear site near Lake Huron.

Decision On Storing Ontario Nuclear Waste Delayed Again For More Study

Canada's Electronic Spies At The Centre Of Beefed-up ISIL Intelligence Effort

The Communications Security Establishment, Canada's electronic spy service, is set to play a more prominent role in the war against the Islamic State of Iraq and the Levant, The Canadian Press has learned.