Latest news with #Vancouver-area
Vancouver Sun
05-08-2025
- Business
- Vancouver Sun
Vancouver home sales tick 2% lower in July with market 'turning a corner': board
Vancouver-area home sales were down two per cent in July compared with last year, as the city's real estate board says it continues to believe the market is showing early signs of recovery. Greater Vancouver Realtors says residential sales in the region totalled 2,286 last month, down from the 2,333 sales recorded in July 2024 and 13.9 per cent below the 10-year seasonal average. The board's director of economics and data analytics Andrew Lis says the figures confirm that the market has turned a corner after months of slow activity spurred by the Canada-U.S. trade war. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Year-over-year sales were down around 10 per cent in June, roughly half of the decline recorded in May. There were 5,642 newly listed properties on the market in July, a 0.8 per cent increase from last year, as total active listings rose 19.8 per cent year-over-year to 17,168. The composite benchmark price in July was $1,165,300, down 2.7 per cent from a year earlier and 0.7 per cent lower than June.
Winnipeg Free Press
05-08-2025
- Business
- Winnipeg Free Press
Vancouver home sales tick 2% lower in July with market ‘turning a corner': board
VANCOUVER – Vancouver-area home sales were down two per cent in July compared with last year, as the city's real estate board says it continues to believe the market is showing early signs of recovery. Greater Vancouver Realtors says residential sales in the region totalled 2,286 last month, down from the 2,333 sales recorded in July 2024 and 13.9 per cent below the 10-year seasonal average. The board's director of economics and data analytics Andrew Lis says the figures confirm that the market has turned a corner after months of slow activity spurred by the Canada-U.S. trade war. Year-over-year sales were down around 10 per cent in June, roughly half of the decline recorded in May. There were 5,642 newly listed properties on the market in July, a 0.8 per cent increase from last year, as total active listings rose 19.8 per cent year-over-year to 17,168. Monday Mornings The latest local business news and a lookahead to the coming week. The composite benchmark price in July was $1,165,300, down 2.7 per cent from a year earlier and 0.7 per cent lower than June. This report by The Canadian Press was first published Aug. 5, 2025.
The Province
18-07-2025
- Climate
- The Province
Six Vancouver-area beaches closed for swimming due to E. coli
Five Vancouver beaches and one West Van beach have unacceptably high levels of E. coli, said Vancouver Coastal Health English Bay beach is one of six beaches in Vancouver and West Vancouver with high levels of E. coli, says Vancouver Coastal Health. Photo by Arlen Redekop / PNG Health officials have issued no-swim advisories for six Vancouver-area beaches due to high levels of E. coli in the water. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Vancouver Coastal Health warned beachgoers and swimmers to stay away from the waters of English Bay, Kitsilano, Second, Sunset, and Third beaches in Vancouver as well as Dundarave Beach in West Vancouver due to unacceptably high E. coli levels. The warnings for Second, Kits and English Bay beaches were issued Thursday, a day after the advisories for Third, Sunset, and Dundarave beaches. The health authority collects water samples from beaches in the region weekly from May to September and tests them for bacteria. It issues not-suitable-for-swimming advisories if bacteria levels exceed 400 E. coli per 100 millilitres. Signs have been posted at the beach, although the beach itself and facilities are safe to use. This advertisement has not loaded yet, but your article continues below. E. coli is bacteria found in human and animal feces. High numbers in the water indicate fecal contamination. Lions Bay Beach further up the Sea to Sky Highway and Trout Lake Beach in John Hendry Park have been under advisories since last week. Vancouver Coastal is keeping a close eye on several other beaches where E. coli levels were higher than expected. These beaches include Jericho Beach and Wreck Beach in Vancouver, Ambleside, Eagle Harbour, and Sandy Cove beaches in West Vancouver, and Sandy Beach on Bowen Island. chchan@ Read More Vancouver Canucks News Sports Local News Crime
Vancouver Sun
18-07-2025
- Health
- Vancouver Sun
Six Vancouver-area beaches closed for swimming due to E. coli
Health officials have issued no-swim advisories for six Vancouver-area beaches due to high levels of E. coli in the water. Vancouver Coastal Health warned beachgoers and swimmers to stay away from the waters of English Bay, Kitsilano, Second, Sunset, and Third beaches in Vancouver as well as Dundarave Beach in West Vancouver due to unacceptably high E. coli levels. The warnings for Second, Kits and English Bay beaches were issued Thursday, a day after the advisories for Third, Sunset, and Dundarave beaches. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The health authority collects water samples from beaches in the region weekly from May to September and tests them for bacteria. It issues not-suitable-for-swimming advisories if bacteria levels exceed 400 E. coli per 100 millilitres. Signs have been posted at the beach, although the beach itself and facilities are safe to use. E. coli is bacteria found in human and animal feces. High numbers in the water indicate fecal contamination. Lions Bay Beach further up the Sea to Sky Highway and Trout Lake Beach in John Hendry Park have been under advisories since last week. Vancouver Coastal is keeping a close eye on several other beaches where E. coli levels were higher than expected. These beaches include Jericho Beach and Wreck Beach in Vancouver, Ambleside, Eagle Harbour, and Sandy Cove beaches in West Vancouver, and Sandy Beach on Bowen Island. chchan@
Vancouver Sun
15-07-2025
- Business
- Vancouver Sun
B.C. cuts Metro Vancouver developers a break from soaring fees, backstopped by $250 million in federal cash
The B.C. government is lending a hand to the ailing homebuilding industry in the province's most populous region, effectively slashing development charges for many projects already in the pipeline. The province confirmed to Postmedia News that for residential projects in Metro Vancouver initiated before March 2024, fees to pay for growth-related infrastructure, such as water, wastewater and parks, will be reduced. Developers of these 'in-stream' projects will be able to pay development cost charges under the old fee structure, instead of the new one that more than tripled this year. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Metro's funding shortfall from the reduced development charges will be backstopped by $250 million from the federal government. The move is being welcomed by some of B.C.'s biggest development companies. The industry had lobbied for some kind of relief since the higher fees were unveiled in 2023, warning the increases would kill previously viable projects. Rick Ilich, CEO of Townline, a major Vancouver-area developer of strata and rental housing, called the in-stream protections a 'bold move' that will protect thousands of jobs in Metro and provides a measure of certainty in an uncertain time. The change is unlikely to make a major difference for many Vancouver-area condo projects considering the state of the overall market, Ilich said, but it could help some rental projects get 'unstuck.' Townline has three projects in Vancouver, totalling 670 rental and 380 strata units, that will benefit from the change and will move forward, Ilich said. While the province, the federal government and many municipal governments are aligned on the goal of dramatically boosting housing supply, several factors — including increasing costs of all kinds, a tight labour market, a U.S. trade war and related uncertainty — are converging to create a challenging market environment for residential projects to proceed. Some of B.C.'s largest development and real estate companies, including Wesgroup and Rennie , have recently laid of significant portions of their staff. Metro's new fee structure was set in 2023, representing increases as high as 255 per cent over three years. It was implemented over the objections of developers and, in a rare case, Canada's then-housing minister , who cautioned the increases were so dramatic that they would render several planned developments unviable. The fee hikes were approved by a vote of Metro's board of directors, a body made up of mayors and councillors from throughout the region, who argued that, despite the industry's protests, development fee hikes were needed to fund necessary infrastructure upgrades. That federal funding commitment was announced late last year, and since then, representatives of the B.C. and Canadian governments have been negotiating the terms of the deal, said B.C. Housing Minister Ravi Kahlon on Monday. The two parties reached an agreement on March 22 of this year — which wasn't publicly known until now, Kahlon said — that applies the old, lower DCCs to projects whose applications were submitted prior to March 22, 2024, and whose permits are issued before March 22, 2026. 'It's using federal dollars to lower the cost of construction so we can continue to see housing supplied,' Kahlon said. 'We spent many months trying to negotiate this, and certainly, it's an example of what can happen when you have partnerships between the federal government, the development industry, as well as the province.' Under Metro's new fee structure, which took effect Jan. 1, development charges for each purpose-built rental apartment more than tripled from $6,249 per unit to $20,906. Kahlon has heard some people describe these kinds of moves as government handouts to the development industry, but he disputes that characterization. 'Having sat down with both not-for-profit builders and private builders, and gone through their pro-formas, I can say that this will be the difference between housing happening, and it not happening. It's not the difference between somebody making a little bit of money and a lot of money,' Kahlon said. 'There's a big difference between the two.' Metro estimated that allowing developers to pay the old, lower charges would mean the regional government needed to recoup about $220 million to make up for the shortfall, said Heather McNeil, Metro's deputy CAO. 'But there's no revenue coming in if projects don't move forward,' she said. Municipalities collect development cost charges and submit them to Metro twice a year. Metro couldn't immediately provide the number of projects and total homes affected by this change. In a written statement, Metro board chairman Mike Hurley, the mayor of Burnaby, said: 'Allowing more time to continue paying 2024 rates offers developers more financial certainty for eligible developments, which can help to advance housing, support local jobs and stimulate the economy.' Urban Development Institute president Anne McMullin said the in-stream protection period is 'a meaningful step that reflects the realities of today's development environment.' 'Current high-cost conditions have placed significant pressure on project viability, and without this change, many projects would not have been able to proceed,' McMullin said. 'This change demonstrates a practical understanding of the barriers facing the industry and helps ease some of the immediate pressure on projects, so they can move forward.' dfumano@
