Episodes
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Affordable housing continues to dominate the national conversationâand yet, no level of government seems to have cracked the code. In todayâs episode of The Vancouver Life, weâre taking this issue into our own hands. Following our most-commented video ever, where we introduced a series of bold ideas to bring truly affordable, ownership-based housing to Canadians, weâre back with more. Many responded with sharp criticism, valid points, and even better ideas. It inspired us to expand on the original concept, now tentatively called The Dan Plan, and crowdsource even more solutions from our community. With over 10,000 viewers tuning in weekly, if even 1% of you contribute, thatâs 100 new ideas we can compile into a living documentâand present directly to government contacts with the goal of influencing real policy change.
The 'Dan Plan' includes removing development cost charges and developer profit margins by having government step in as the builder, offering 0% interest construction loans, and fast-tracking approvals. For buyers, it proposes radical affordability measures: zero down payment, no GST, no property transfer tax, and even no annual property tax for qualifying homes. These changes, if implemented, would reduce the barrier to homeownership by a huge amountâimmediately. This isnât about building a few thousand affordable rentals years from now. This is about creating affordable homes people can own and build wealth with today. And while the plan isnât perfect, itâs meant to start a conversationâand we want you to be part of it. Share your ideas in the comments, and weâll refine and present the best of them to government officials.
In addition to the affordability push, we highlight a rare real estate opportunity happening right now in Surrey. The Belvedere, a just-completed concrete high-rise, is offering homes at 25% below their original list price. Despite showing âsold outâ online, approximately 70 units are being released under this promotion, with prices starting at $721 per square foot. Appraisals are reportedly coming in $90,000 higher than the discounted prices, making this one of the most compelling condo deals in the Lower Mainland. Financing is expected to be smoother with these valuations, and we anticipate a swift sell-out. To learn more or get access, visit condoday.ca or reach out to us directly.
We also unpack a massive week in Canadian real estate data. Housing starts jumped 30% in April to 279,000 annualized unitsâthe strongest print since June 2023âbut nearly all of that growth came from purpose-built rentals. Condo and single-family home starts, by contrast, have fallen to decade lows. This unusual dynamic points to a likely plateau in rent prices and suggests that condo values may face future headwinds due to increased supply and moderating rents.
Whether youâre passionate about housing affordability, curious about the current market landscape, or just looking for a rare real estate deal, this episode delivers insight and opportunity. And if you believe Canadians deserve affordable homes they can own, now is the time to raise your voice. Drop your ideas in the commentsâweâre listening, compiling, and taking action.
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The average home price in Canada has officially dropped 18% since the 2022 peakâbut thatâs only half the story.
In this weekâs episode, we unpack April 2025âs national real estate data, and explore a far more revealing trend: What prices looked like 5 years ago versus today. Because while home values are down nearly 20% from peak levels, theyâre still up 31% over 5 years.
We also take a closer look at the man now in charge of Canadian housingâformer Vancouver Mayor Gregor Robertson, newly appointed as Canadaâs Housing Minister. His stance? Home prices donât need to go downâinstead, heâs promising more supply and more affordability. But how do you make homes more affordable without lowering their price?
Itâs a nearly impossible challengeâand weâll explain why it may never happen, especially when the majority of voters, politicians, and Canadaâs wealthiest citizens are all homeowners with a vested interest in protecting property values. Trudeau said it last year, and Robertson is echoing the sentiment again today: âHousing needs to retain its value.â
Weâll show you a possible model for government-built housing at costâno developer profit, reduced DCCs, and resell restrictions to inflation-only increasesâbut question if that kind of execution is realistic in todayâs bureaucratic system.
Meanwhile, the labour market is softening. Canadaâs unemployment rate climbed to 6.9%, the highest in 8 years outside of COVID. BC saw a slight increase to 6.2%, even as job creation remained steady. Wage growth continues, but a weakening economy and global trade volatility (especially with the US tariffs) may push the Bank of Canada toward another rate cut.
The presale market continues to unravel. Boffo Developments just cancelled their 1,200-unit Burnaby project âBassanoâ after selling only 44 of the first 318 units in 6 months. Theyâve returned deposits and hit pauseâindefinitely. Even Vancouverâs largest presale marketing firm, Rennie, has laid off 25% of staff, with insiders predicting the market wonât stabilize for at least two more years.
On the rental side, Toronto saw its first uptick in rents in over a year, with 1-bed unfurnished units rising $22 to $2,148/month in May. But thatâs still well below last yearâs levels. Alberta rents are sliding too, with Calgary down 7% and Edmonton down 6% in the past 6 months.
Lastly, letâs talk about the Renewal Cliff Myth. The Bank of Canadaâs latest Financial Stability Report shows that rising mortgage payments wonât be nearly as painful as expected. Thanks to moderating rate expectations, payment increases on renewal will be 4â5 points lower than forecastâwhich means a much softer landing for borrowers than many feared.
So, are we at the bottom of the market? The CREAâs national data shows home sales in April were virtually flat month-over-month, suggesting the 2025 sales slump may be stabilizing. But prices in BC and OntarioâCanadaâs two biggest marketsâcontinue to drag the national average down. And until there's a true shift in supply, policy, or buyer confidence, expect more of the same in the months ahead.
Drop your thoughts in the commentsâIs this the bottom? Will the new Housing Minister make a difference? Or is Canadaâs real estate market in for more pain ahead?_________________________________
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Dan Wurtele, PREC, REIA
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For the first time in 2025, Vancouver home prices have declinedâand combined with multi-year lows in sales activity, have we finally reached the bottom of this market cycle?
In this weekâs episode, we dive into the May market update for Vancouver, examining whyâafter four consecutive years of declining home salesâwe may be approaching a cyclical turning point. Vancouver just posted its lowest April sales figures since 2019, and for context, this is now the longest recorded slowdown in the GVRD since 2005. But whatâs fascinating is that some early signs of life are emerging in other major Canadian marketsâespecially Toronto. TRREB reported a modest 1.8% increase in sales in April, breaking a brutal two-month, 27% drop. Is this a blip, or the beginning of the stabilization phase?
We break down affordability and consumer confidence, two key drivers of real estate cycles. With mortgage payments on a typical home now at $2,600âthe lowest since May 2022âaffordability is quietly improving. And with consumer sentiment indexes showing their first significant jump in over a year, buyer psychology could be shifting. Should the Bank of Canada cut rates in June, as markets are pricing in, it could bring payments back to 2022 levelsâwhen sales volumes were 52% higher.
We then turn to Toronto, where the situation is more extreme. GTA sales remain 21% lower year-over-year, with condo sales down a staggering 30%âthe lowest sales figures seen in 25 years (excluding COVID lockdowns). Inventory is ballooning, up 51% overall and 83% for condos in the 416. And prices across all asset types have dropped: condos are down 6.8%, detached homes 5.4%. Meanwhile, the rental market is under pressure too. With 16,000 rental listings, GTA rental inventory is at an all-time high. Rents are now 13% below peak levels, and investor demand has fallen off a cliff. But with prices and rates declining faster than rents, even cash flow metrics are beginning to improveâthough weâre still far from equilibrium.
We then circle back to Vancouver. Despite the sales slowdown, condos have shown surprising resilienceâboth in sales and price. Condo transactions are down just 56% from peak levels (compared to 71% for detached homes) and prices have only slipped 2% from their highs, outperforming detached and townhouse segments. In fact, when looking at the broader GVRDâexcluding downtown Vancouverâcondo prices have barely moved.
New listings in Vancouver came in slightly below 2024 levels but remain steady, and inventory continues to climb, reaching an 11-year high for April. With buyers still largely on the sidelines, the sales-to-active ratio has held in balanced market territory for 12 straight monthsâ14% overall. The days-on-market average ticked up to 16, and foreclosure activity rose slightly but remains a minor share of total listings.
Finally, we close with price movement: The Home Price Index fell by 0.5% this month, the first drop of the year, bringing the average Vancouver home price to $1.184M. The average price dropped by $20,000, and prices are now 1.8% lower than they were a year ago.
Whether weâve hit the bottom or are simply sliding along it remains to be seenâbut the data suggests that a turning point could be on the horizon. Be sure to tune in for our full analysis, charts, and predictionsâso youâre prepared for whatâs next in this shifting market.
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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When is the right time to buy a home? For many, it's when they feel readyâpersonally and financially. But even then, timing the market, understanding future price direction, and interpreting shifting economic signals can complicate the decision. In this episode, we break down everything you need to know to make a confident, informed choice about buying a home in 2025.
First, we examine the all-powerful & predominant force of interest rates. The Bank of Canada held steady in April, but with two more rate cuts expected in June and September, we could see the overnight rate drop to 2.25% by year-end. Variable-rate holders may feel relief by the fall, while fixed rates have remained mostly unchangedâmaking the 3.99% offers available now historically attractive, even if thereâs potential for further dips.
But rates donât act alone. Sentiment plays a massive role. Despite consumer confidence hitting all-time lows, April brought a slight reboundâtoo soon to call it a trend. However, business sentiment continues to deteriorate, dragging down the Real Estate Outlook Index at its fastest pace since the 2022 rate shock. Sales volumes remain sluggish, and we donât expect a sharp bounce anytime soon.
Real estate moves in cycles, and Vancouverâs decades-long climb may be entering a slower phase. We revisit Torontoâs 1989 peak, when prices fell 27% over seven years and took 22 years to recover in inflation-adjusted dollars. Could Vancouver follow a similar path after peaking in 2022? If so, prices may not reach those highs again until 2028 or later. Buying today means thinking long-termâand accepting that appreciation might not arrive on your timeline.
Meanwhile, first-time buyers are getting older. In Canada, the average is now 33âup from 32 in the early '80sâwhile in Ontario itâs hit 40. Surprisingly, Americans, with cheaper homes but more student debt, wait even longer (age 38 on average). Whatâs driving Canadians to buy sooner?
But supply is failing to keep up. March housing starts missed expectations by 14%, and condo construction is in freefallâdown 45% from last year. Remove purpose-built rentals, and weâre at 15-year lows. Ontario and BC, the provinces with the greatest need, are down 38% and 30% year-over-year. CMHC says we need 3.1 million more homes by 2030. At this rate, thatâs a pipe dream.
On top of that, inventory levels are rising, especially in the pre-sale market. Vancouver could hit 3,500 unsold new condos by year-endâa 60% surge. With investor demand almost vanished (down from 50%, then 25% and now 7%!), developers are cancelling projects, and hundreds of homes wonât break ground. Even with record immigrationâToronto just became North Americaâs fastest-growing cityânew supply is evaporating.
We close with a mini-market update: May sales in Vancouver are trending at a six-year low (outside of COVID lockdowns), while inventory is at an 11-year high. Median prices are up slightly, but average prices are slipping. Could this be the inflection point?
So⊠is now the right time to buy? That depends on your goals, your timeline, and your outlook. This episode delivers the data, trends, and insights to help you decideâwith eyes wide open.
Are you prepared to buy with the long-term in mind, even if prices donât rise during your ownership? Let's chat about it.
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Dan Wurtele, PREC, REIA
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Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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Building major housing projects in Canada is a deeply complex and often misunderstood process â one that requires more than just permits and plans. Itâs about aligning the vision, values, and needs of developers, cities, and the communities they aim to serve. And at the centre of that delicate balance is Gary Pooni, President of Pooni Group, a renowned Urban Planning and Land Development consultancy based in Vancouver. With nearly 30 years of experience, Gary has played a critical role in shaping some of the most significant developments across Metro Vancouver, Vancouver Island, the Sea-to-Sky Corridor, Alberta, and Ontario.
In this episode, we sit down with Gary to uncover the nuanced and often unseen world of urban planning in Canada why it seemingly takes an inordinate amount of time to build anything. With over 800 projects successfully guided through all stages of the development process in more than 25 Canadian municipalities, the Pooni Group has become the gold standard in bridging the gap between municipal regulations and private development.
Gary shares how his team helps developers navigate the red tape of rezoning, permitting, and compliance â particularly in markets like Vancouver, where the approval process for major projects can take years and often results in a stifled housing supply and elevated prices.
We ask Gary to shed light on why this process takes so long, what the biggest systemic bottlenecks are, and what practical solutions might look like. From there, we zoom out to a national lens, exploring the broader challenges that slow the pace of housing construction across Canada â and what must change if weâre serious about addressing affordability and supply.
But this conversation goes far beyond bureaucracy. We explore the future of Canadian cities and what urbanization might look like by 2050. Gary shares his bold predictions about how technology â particularly AI and robotics â will shape the way we design and build communities. He also discusses how the post-pandemic landscape has fundamentally shifted the office and retail sectors, and how the concept of âexperienceâ is becoming the cornerstone of these spaces.
We also dive into demographic shifts â with millennials and downsizing boomers now dictating what types of homes are being built, what features matter most, and how planners need to adapt their strategies to meet evolving lifestyles and expectations.
Finally, Gary introduces his brand-new development course â a must for anyone looking to understand the ins and outs of real estate development in Canada. Whether you're a new developer, a seasoned investor, or a curious policy enthusiast, this course promises to deliver practical knowledge from one of the most experienced professionals in the field.
This episode is a masterclass in how real estate development really works in Canada â from behind-the-scenes negotiations to the visionary thinking needed to build the cities of tomorrow. Donât miss it.
Join The Course Here:
https://laidleracademy.com/pooni-new-era-course_________________________________
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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In this week we cover some of the most consequential turning points in Canadaâs housing narrative to date including the breakdown of the Federal Conservative and Liberal housing plans. New home construction is collapsing at a national levelâplummeting in cities like Vancouver by as much as 36% year-over-yearâjust as Canadians are being asked to decide who should lead the country through the next era of growth, or decline.
We begin with the Bank of Canadaâs latest rate decision: after seven cuts in the last 12 months, the BoC held steady at 2.75%, citing uncertainty caused by the ongoing U.S. tariff war.
Governor Tiff Macklem emphasized that monetary policy canât fix trade disputes but must focus on maintaining price stability. Although unemployment is rising and growth is slowing, the threat of inflation led the Bank to pause further cuts. At the same time, bond yields are surging, which could soon push mortgage rates higher, adding yet another affordability challenge for buyers.
Inflation data offered a brief reprieve, coming in at 2.3% for Marchâcooler than expectedâthanks largely to lower gas prices. Shelter costs remain high but are decelerating, and rents continue to trend downward.
National home sales, however, paint a more sobering picture. Volumes fell 5% month-over-month and 9% year-over-year, making this past March the slowest on record since 2009. Despite that, prices have only dipped modestlyâjust 2.1% year-over-year by HPI, and 3.7% by average priceâsuggesting the market remains surprisingly resilient even as sentiment erodes.
But itâs the housing start data that really underlines the problem: Canada posted the lowest monthly housing starts in six years, and itâs getting worse. Torontoâs pre-sale condo market has all but collapsed. Sales are 88% below the 10-year average, and unsold inventory now sits at a staggering 78 months of supply! That's 6 years!
Developers are pulling out, projects are being cancelled or converted to rentals, and thereâs zero profit margin left in many builds. As construction slows, a severe future housing shortage feels inevitable as the roller coaster continues.
Finally, we break down the election housing platforms of both the Liberal and Conservative parties. The Liberals plan to double annual home construction to 500,000, reintroduce tax incentives for rental construction, and create a new government housing agencyâyet offer little in the way of realistic execution given Canada hasnât built more than 270,000 homes in a single year in over four decades.
Meanwhile, the Conservatives propose slashing GST on new homes up to $1.3M, punishing cities that fail to meet housing targets, and offering financial rewards to those that exceed them. They aim to unleash supply by freeing up federal land and cutting red tape, though critics argue their platform lacks implementation details.
If housing affordability matters to youâand it shouldâthen this episode is essential listening. We examine not only the data but the direction each political party is trying to take Canada. With construction grinding to a halt, affordability still out of reach for most, and developers hitting pause across the country, the decisions we make now will define the housing market for the next generation.
_________________________________
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The spring market is all but dead in 2025. That much is clear. The traditional seasonal surge in home sales that typically arrives in March and April has simply failed to show up. Home sales across Canada remain at multi-decade lows, with April currently trending a shocking 33% below last yearâan already sluggish benchmark in itself. The market remains paralyzed under the weight of higher interest rates and high home prices, both of which are now colliding with a wave of mortgage renewals, Trump-imposed tariffs, and an upcoming federal election. These compounding pressures have Canadians turning their attention away from housing, choosing caution and savings over real estate.
And yet, below the surface, the long-term trajectory of the Canadian real estate market is beginning to reveal itself. This episode dives deep into the undercurrentsâemployment, arrears, monthly payments, national inventory, and new housing constructionâto show you where the market is heading next, even if you're not planning a move anytime soon. One revealing example is a recent court-ordered sale we just attended. Despite going through a complex legal foreclosure process, the property still attracted multiple offers and sold over askingâshowing us that demand isn't dead, just dormant and highly specific.
But hereâs where the tone starts to shift. Monthly mortgage payments have started to trend downward from their 2023 peak of $3,400, and if the Bank of Canada cuts rates to 2% as forecasted by many Banks, we could see payments fall by 30%. Combine that with the fastest wage growth in 25 years and the highest household savings rate in three decades, and you begin to understand why buyer intentions are beginning to creep back into the market âalbeit modestly. Renters planning to buy are up from 17% to 19%, and existing homeowners considering a purchase rose from 14% to 16%. With sales at 30+ year lows, these early signs of returning confidence could be the start of the next upswing in the market cycle.
Inventory is also building. Active listings in February rose 13.1% year-over-year, and while weâre still below the long-term average, the trend is undeniable. In Toronto, March condo listings hit a record 5,500 in one month. The sales-to-new-listings ratio has dropped below 30% for the first time since 1991, and condo prices are already down nearly 5% year-over-year. Pre-sale condo activity has collapsed. In Toronto, only 152 new condos sold in the last monthâdown 95% from the 2022 peak. At this pace, new completions are projected to fall from over 30,000 in 2025 to fewer than 5,000 by 2029.
And yet, even this bleak data paints a roadmap. With fewer completions ahead, the pre-sale condo market may re-emerge as a viable opportunity once the correction has taken placeâjust not in 2025 and potentially not until 2027 or 2028. For now, returns are still negative, but improving, with cash flow losses narrowing and principal paydown delivering small but positive equity growth. As cycles go, we are in the trough. But every cycle turns, the question is when._________________________________
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Dan Wurtele, PREC, REIA
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ome sales in Vancouver just hit their lowest point in six years, marking yet another painful milestone in whatâs quickly becoming one of the most uncertain and volatile real estate markets in decades. And if youâre wondering why this is happening, just look at the bigger pictureâconsumer confidence in Canada just hit an all-time low. Thatâs rightâlower than the depths of the Great Financial Crisis, and worse than the early pandemic panic.
Business confidence is in the same horrific state, and these werenât even recorded after Trumpâs tariffs took effect. With those now in place, pressure is mounting on the Bank of Canada as it faces a nightmarish economic puzzle: GDP is rising, inflation is expected to heat back up, the housing market is crumbling, and record levels of debt are coming due for renewal. Meanwhile, the March real estate data for Vancouver has just dropped, and weâre breaking down all the key metricsâfrom collapsing sales volumes to rising inventory to surprisingly resilient home pricesâand analyzing what all this means for home values for the spring 2025 market.
Letâs talk inflation. March came in hot at 2.6%, a big jump from the previous monthâs 1.9%, and far above expectations. Mortgage interest costs have fallen again for the 18th straight month, but inflation is now at a seven-month high, forcing the Bank of Canada into a tightening corner. And behind the scenes, 45% of businesses expect to raise prices more than 5% this yearâdouble what it was just six months ago. While tariffs may warrant easing, inflation is pushing back hard, and markets no longer expect a rate cut in April. Meanwhile, GDP rose againâup 0.4% in January after a 0.3% climb in Decemberâled by energy and mining. While the headline looks positive, remember: per capita GDP has been in decline for over two years. The BOC may take these numbers at face value, but itâs a fragile recovery at best.
South of the border, the U.S. Fed held its rate at 4.5% last month, with possible cuts later this year. But Powell made it clear: if inflation stays sticky, high rates could persist. Their GDP forecast was revised down and inflation up. The takeaway? If the Fed cuts, Canada could followâespecially as our economic risks grow and global trade uncertainty lingers. In the mortgage world, renewals are surgingâup 110% year-over-yearâand projections vary widely. BMO sees rates at 2% by end of 2026, while Scotia sees no cuts until 2027. The big banks donât agree, but theyâre all aligned on one thing: no hikes are coming. Thatâs welcome news for those riding variable rates or planning their next move.
New housing supply is in freefall. National housing starts dropped 4% month-over-month and 12% year-over-year, but BC is the epicenter of the downturn: starts plunged 22% just last month and are down 32% from last year. In Vancouver alone, theyâre off by 18%. This comes at a time when building permits are at rock bottomâmeaning even fewer homes will be built in the years to come. While inventory is high now, the longer-term risk is a devastating shortage. Just look at the national data going back to 1972: while population growth has doubled, housing completions have actually declined. CMHC now estimates weâll be short 3.5 million homes by 2030. Add affordability and suitability issues, and weâre heading toward a full-blown housing crisis.
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Dan Wurtele, PREC, REIA
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Ryan Dash PREC
778.898.0089
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Just over a year ago, Vancouverâs rental market was on fire. Rents were rising at record pace, showings were fully booked within hours, and competition was fierce. Fast forward to today, and itâs a very different story. Properties that used to rent in a single day are now sitting on the market for months. Rents are softening, vacancy is creeping up, and investorsâespecially small-scale landlordsâare starting to feel the pressure.
In this episode, we explore the major shift in Vancouverâs rental market, digging into the economic forces and real estate dynamics that got us here. From high interest rates and inflation-fighting policies to rising construction costs and tariff threats, we break down how macroeconomic conditions have trickled down into a rental environment thatâs finally showing signs of balanceâor at least a pause.
We take a closer look at the impact of newly completed, purpose-built rental buildings and how theyâre changing the game for mom-and-pop investors. In 2024 alone, over 17,900 new rental units have been registeredârepresenting 44.4% of all new housing starts in BC. As these larger, professionally managed buildings come online, they offer better amenities, stronger tenant protections, and often more aggressive pricing and incentives to fill vacancies quickly. This puts significant pressure on individual condo landlords, many of whom now have to drop rents or risk sitting vacant for months.
We share real-world examples that paint a clear picture of this market shift. A 1,000 square foot, two-bed plus den in Yaletown that rented in just one day in 2022 for $3,500 is now listed at $3,400, has sat on the market for over 80 days, and may lease at $3,300âa 6% decline. A one-bedroom unit in Coquitlam that rented in 2 days for $2,300 in November 2023 just leased for $1,900 after 93 days and 33 showingsâa 17% drop. Average days on market have risen from 32 to over 43 in the past year, and many units are receiving less than one showing per week.
This episode unpacks what all of this means for renters, landlords, and investors alike. The balance of power may be shifting toward tenants, with more options, lower prices, and better negotiating power than theyâve had in years. At the same time, investors are being squeezed by rising holding costs, taxes, and a softening rental environment. Even as mortgage rates show signs of easing, the gap between expenses and income is widening for many who purchased recently using high leverage.
We also examine whether purpose-built rentals are truly improving affordability, or simply creating a new class of high-end rental stock. While many of these buildings offer cost efficiencies, lower maintenance, and no risk of eviction due to landlord use or sale, they often come with premium finishes and luxury amenities that keep monthly rents high. Still, their existence could free up more condo units for first-time buyers and shift tenant demand in a meaningful way.
Whether you're a tenant looking to time your move, a landlord wondering how to stay competitive, or an investor rethinking your long-term strategy, this episode brings clarity to a rapidly evolving market. We break down whatâs happening now, whatâs likely coming next, and what you can do to stay ahead of the curve in Vancouverâs changing rental landscape._________________________________
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Dan Wurtele, PREC, REIA
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Ryan Dash PREC
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Welcome to The Vancouver Life Podcast! In this episode, we dive into the forces shaping the future of Vancouverâs real estate market with Josh White, the General Manager of Planning, Urban Design, and Sustainability for the City of Vancouver. Josh brings a wealth of experience from his time as Director of City and Regional Planning and Co-Chief Planner at the City of Calgary, and now leads Vancouverâs planning efforts at a time when housing supply, affordability, and urban development are more critical than ever.
We discuss the lessons he's learned from his time in Calgary and brought to Vancouver, and how the city is tackling some of its biggest affordability challenges. We dig into the complexities of Vancouverâs permitting process, why timelines under the Cityâs ambitious 3-3-3-1 Plan have been difficult to meet, and whether hiring more staff is really the solution. Josh sheds light on the cityâs plan to streamline over 1,800 pages of policy documents into just 100 pages and what that will mean for builders and homeowners.
We also explore upcoming system changes that could cut permit times in half by allowing Development Permits and Building Permits to be processed in parallel. Josh shares his take on Bill 47 and how transit-oriented development is shaping the future. We tackle the long and often frustrating process developers face to rezone and build towers, why Vancouverâs city fees are among the highest in Canada, and how Development Cost Levies impact affordability and cash flow. We ask where these funds are being spent, whether thereâs accountability in how theyâre used, and discuss the cityâs evolving stance on banning natural gas in new homes.
Josh also weighs in on Bob Rennieâs recent proposal to allow foreign buyers to participate in pre-sales with long-term rental commitments, and we talk about changes to REDMA that give developers more breathing room in todayâs challenging market.
Lastly, Josh shares his vision for housing in Vancouver, how builders can help streamline processes at City Hall, the conversations happening around affordability, and how sustainability is built into every decision the city makes for the future. This is an in-depth conversation you wonât want to miss if you care about the future of housing in Vancouver.
Josh White joined the City of Vancouver in May of 2024, coming from Calgary where most recently he was Director, City and Regional Planning and Co-Chief Planner at the City of Calgary. There, he stewarded the adoption of a new housing strategy in collaboration with partners and led the creation of a simpler and more effective planning policy and regulation. During a period of extraordinary population growth for the city, Josh also oversaw strategic growth, growth funding and financing, and infrastructure planning for the municipality. In his tenure at the City of Calgary, he also initiated and led the significant transformation of the development approvals system, which resulted in improved planning outcomes,
benchmarked as among the most efficient in Canada.He holds a masterâs degree in urban and regional planning from Queen's University, and began his career in the private sector, serving a variety of private and public sector clients as a consultant with Urban Strategies in Toronto. Joshâs private sector experience also includes leading planning and approvals for Alpine Park, a progressive n
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Dan Wurtele, PREC, REIA
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The Bank of Canada cut interest rates this week for the 7th consecutive time, lowering the overnight rate to 2.75%âa level we havenât seen since August 2022. But what really caught our attention wasnât just the cut itselfâit was what Governor Tiff Macklem said at the press conference. Macklem explicitly stated that tariffs are restraining household spending intentions, and in response, the BOC is acting to stimulate the economy. Thatâs rightâheâs openly admitting that the Bank is working to revive spending, which in Canada, largely means propping up the housing market. This isnât speculation. Itâs policy. And itâs becoming increasingly clear that maintaining home prices is a top priority at the highest levels of government.
But what does this mean for Canadians, especially those with mortgages renewing this year? We ran the numbers: a homeowner who took out an $800,000 mortgage in 2020 at 1.8% will see their monthly payments jump by $927 if they renew today at a 4.39% fixed rate. Thatâs still 32% higher than what they were paying four years ago. While rate cuts are happening, theyâre nowhere near enough to ease the burden of higher borrowing costsâat least not yet. On the inflation front, early warning signs are flashing yellow. The Raw Materials Price Index is up 11% year-over-year, the highest jump since 2022. The Industrial Product Price Index is also rising, historically a leading indicator of core inflation. And with 20% of businesses planning to hike prices by 6% or more this year, itâs possible that inflation could start creeping back up by Q4 2025. If that happens, we may not see as many rate cuts as the market is pricing in.
The uncertainty around tariffs is also crushing consumer and business confidence. The Index of Consumer Confidence has now dropped below Global Financial Crisis levels, meaning people feel worse about the economy today than they did in 2008. And with nearly 63% of Canadians saying itâs a bad time to make a major purchase, spending is slowingâbad news for businesses already holding back on investments. This hesitation is showing up in BC real estate sales as well. In February, home sales in BC fell 9.7% year-over-year, with average prices down 2.4%. The total sales volume hit just $4.8 billion, an 11.8% decline compared to last year. This is a major shift from the red-hot market we saw in 2021 and 2022, proving that even with rate cuts, buyers remain cautious.
Lastly, we take a deep dive into the growing wealth divide. Despite economic uncertainty, household net worth in Canada surged 1.4% in Q4 2024, adding $236.3 billion in wealth and bringing the total to $17.5 trillion. Over the past year, wealth climbed by 7.3%, even after adjusting for inflation. But hereâs the catch: the top 20% of households now control 68% of all financial assets, a share that continues to grow. With interest rates coming down, asset holders will benefit the most, widening the wealth gap even further.
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Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The impact of tariffs on the housing market is already being felt. Even before they were implemented, just the threat of tariffs was enough to put buyers on the sidelines. Now that they are in place, the effects are hitting fast. Toronto, often viewed as a key indicator of the condo market, saw sales drop 28% month-over-month in Februaryâa month that typically sees an increase from January. Vancouverâs numbers reveal similar trends, with sales momentum reversing sharply after months of steady growth.
While headline GDP growth showed a stronger-than-expected 2.6% annualized gain in Q4, the real story lies in GDP per capita, which has declined for two straight years, confirming that Canada has been in a per capita recession for over 24 months. Job vacancies have also plunged to their lowest levels since 2017, leaving workers with the worst job prospects in seven years. Despite what the official numbers suggest, the economic reality is pointing towards a prolonged slowdown that could further weaken real estate demand. One of the few bright spots for homeowners is the declining 5-year bond yield, which has hit a three-year low of 2.6%. This drop has made mortgage rates more attractive for the more than 50% of borrowers set to renew in the next two years. However, with tariffs likely to slow GDP growth even further, itâs increasingly likely that the Bank of Canada will be forced to cut interest rates, possibly as soon as this spring, especially with an election on the horizon.
The latest February 2025 real estate stats for Vancouver confirm shifting market dynamics. Total sales came in at 1,815, down 12% year-over-year and 29% below the 10-year average. This is particularly notable because since October, sales had been higher than 2023 levels each monthâuntil February, when the trend reversed. The level of uncertainty created by tariff threats and economic instability has pushed buyers to the sidelines, and now that tariffs are in place, it appears the spring market may not materialize in the usual way.
New listings rose 11% year-over-year to 5,066, marking a 12% increase above the 10-year average. However, February listings were actually lower than January, an unusual occurrence only seen six times in the past decade. The standout statistic here is condo inventoryâFebruary saw the highest number of condo listings ever recorded for the month, following a record-breaking January. This surge suggests a shift in buyer preference away from high-density living, as well as a growing supply of purpose-built rental housing, which is altering demand patterns. Inventory levels remain a key story, with active listings rising 32% year-over-year to 12,350, sitting 36% above the 10-year average. This places inventory at its highest February level in over a decade, though still below the 2012 peak of 14,875. The sales-to-active listings ratio stands at 15%, marking the 10th consecutive month in a balanced market, with detached homes at 10%, townhomes at 20%, and condos at 17%.
One thing is clearâVancouver real estate is at a pivotal moment, and how policymakers respond in the coming months could shape the market for years to come.
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The Toronto real estate market is making national headlines, with growing concerns about a condo crisis that has both buyers and developers feeling the pressure. In this episode, we sit down with renowned Toronto Realtor Tom Storey to break down whatâs really happening on the ground. With reports of buyers failing to close on pre-sale units and developers facing insolvency, we discuss how these issues are playing out in real-time and whether theyâre as severe as they sound. Are condos the only segment struggling, or is the slowdown affecting all types of housing? And how does Torontoâs market compare to what weâre seeing here in Vancouver? With both cities navigating high borrowing costs, policy roadblocks, and affordability concerns, we examine the parallels and key differences between the two.
A record-low number of new projects launched in January, raising questions about whether developers will be on pause for most of 2025. We explore whether rising development charges, lengthy permit processes, and shifting buyer demand are keeping new housing from coming to market. These same issues have been major inhibitors to new supply in B.C., and we compare how government policies in both provinces are shaping future development. Additionally, with 50%+ of Canadian mortgages set to renew at significantly higher rates over the next two years, we assess how this looming financial pressure could impact both homeowners and investors. Are investors checking out of the market entirely, or are new opportunities emerging in the current landscape?
Beyond the immediate slowdown, we also look at long-term structural issues. Toronto, much like Vancouver, has long been criticized for its lack of "Missing Middle" housingâsmaller, multi-unit developments that could provide a bridge between high-rise condos and detached homes. We ask Tom whether Toronto has made any meaningful progress in addressing this gap and if there are solutions that could help increase supply. We also touch on the contentious topic of Ontarioâs Greenbeltâcould opening up more land be a solution to affordability and supply issues, or would it create more problems? Additionally, with new tariffs looming over the construction industry, we analyze the potential ripple effects on housing costs and supply.
Despite the uncertainties, market shifts often bring opportunities. Tom shares insights on where buyers and investors should be looking right now, what strategies are working for those still active in the market, and what potential silver linings could emerge from this downturn. And while there are real concerns about the future, there are also reasons for optimism. We wrap up by asking Tom what excites and scares him most about the future of Toronto real estate and how the market might evolve over the next few years. If you're looking for a deep dive into one of Canadaâs most talked-about real estate marketsâand how it compares to Vancouverâthis is an episode you wonât want to miss!
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The Canadian housing market is experiencing one of its most dramatic shifts in recent history, as the gap between government promises and market realities continues to widen. While policymakers have focused on demand-side measures like home-flipping taxes, actual housing starts have declined significantly. Meanwhile, an unprecedented number of rental units are entering the market, leading to falling rental prices.
Despite political rhetoric about increasing housing supply, overall housing starts have dropped 19% since their peak in 2021, now sitting at 239,000. However, rental unit construction is surgingâup 44% year-over-yearâcomprising nearly half of all new starts. A record-breaking 144,000 rental units are currently in development, which is already having a profound effect on the market.
Rental rates, which had been rising for 38 months straight, have now fallen for four consecutive months, with national averages dropping from a peak of $2,196 in January 2024 to $2,100 today. Shared accommodation listings have surged 42% year-over-year, with rates declining 7.6%, signaling a shifting dynamic in the rental market.
While rental construction is booming, single-family home (SFH) completions tell a different story. In January 2025, only 3,800 SFHs were completedâthe lowest monthly total since 1997. This ongoing supply crunch suggests that SFH prices may hold firm, even as the condo market weakens.
Inflation in Canada remains relatively stable, sitting at 1.9% in January, marking six consecutive months at or below the Bank of Canadaâs 2% target. However, the vast majority of inflationâ1.3%âis being driven by shelter costs. Mortgage interest costs, a key driver of inflation, have been slowing, with the most recent increase at just 0.2%, the weakest since April 2022.
Employment Insurance (EI) claims are rising at an alarming rate. Nationally, claims increased 14% year-over-year, from 245,000 to over 280,000, while Ontario saw a 29% jump, from 76,000 to 98,000. These numbers suggest weakening economic conditions, which could drag down GDP growth in the months ahead.
On the mortgage front, December saw a staggering 90% year-over-year surge in mortgage originations, largely due to renewals. Many homeowners who locked in ultra-low rates five years ago are now facing a 35% payment shock, putting additional strain on household finances.
At the same time, housing inventory is surging. January saw an 11% month-over-month increase in new listingsâthe largest ever recorded. BC led the way with a staggering 29% increase. Pre-sale condo inventory in Greater Vancouver has nearly doubled from 7,000 to 12,000 units, pushing total available homes in the region above 25,000. This supply surge is making price increases unlikely in the near term.
February data indicates a shift in market momentum. After months of year-over-year sales growth, February saw a 12% annual decline in sales activity. Prices are also softening, with median home prices in Greater Vancouver dropping $20,000 to $900,000âa 10% decline from peak values.
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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Housing inventory is surging across Canada, with cities like Vancouver and Toronto seeing multi-year highs in new listingsâVancouver up 33% YoY (a 13-year high) and Toronto spiking 49% YoY (a 16-year high). This sudden jump in supply is driven by a mix of record completions, stricter tenancy laws, and struggling investors selling off properties due to rising mortgage costs and softening rental markets.
Buyers, however, are staying on the sidelines, hesitant amid economic uncertainty, high borrowing costs, and the looming threat of tariffs, setting up a volatile 2025 housing market. In this episode, we break down these trends and explore whether demand will rise enough to absorb the flood of new listingsâor if prices will continue their downward trajectory.
At the same time, Canadaâs job market data is sending mixed signals. While official reports show strong job growth, deeper payroll data indicates three consecutive months of job losses, raising questions about the real state of employment. Long-term unemployment has doubled, permanent layoffs are climbing, and wage growth is slowingâall signs that economic hardship may be more widespread than headline numbers suggest. Historically, unemployment and mortgage arrears have moved in lockstep, and while arrears remain low for now, any continued weakness in employment could push more homeowners into financial distress, impacting the market further.
Despite todayâs inventory surge, new home construction is already slowing dramatically, which could set the stage for a supply crunch in the coming years. In Toronto, new housing starts just hit a 30-year low, with only 51 new units (not buildingsâunits) started last month. In Vancouver, new home construction declined by 3% in December, the largest drop in three years, and detached home building permits are at their lowest level in 45 years. While todayâs market feels oversaturated, this drastic slowdown in development could lead to a severe housing shortage in 2026â2027, potentially driving prices back up just as they are starting to cool.
With consumer insolvencies rising, job data inconsistencies, and supply declining in the long run, we could be witnessing the beginning of a major market shift. Will today's housing surplus be short-lived? Could government policies or economic conditions unexpectedly swing the pendulum in the opposite direction? Tune in as we break down the latest trends, challenge the mainstream narrative, and explore whatâs next for Canadaâs real estate market.
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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Vancouver home prices took a sharp dive in January, hitting a two-year low, while Canadaâs GDP shrank in November, signaling potential economic trouble ahead. Adding to the uncertainty, looming tariffs could push housing costs even higher, leaving both buyers and sellers wondering whatâs next. If youâre planning to enter the market in 2025, this episode is essential as we break down the data and what it means for you.
The market is facing some serious headwinds and the threat of Tariffs is ever present. The potential for a 25% Tariff on key building materials like windows, drywall, and appliances would drive up construction costs, making new homes even more expensive. While a temporary 30-day pause has been put in place, tariffs could still take effect at any time. Earlier this week, when they seemed imminent, BMOâs chief economist projected 0% GDP growth for 2025, 8% unemployment, and aggressive interest rate cuts down to 1.5%. The Canadian dollar briefly hit a 23-year low, and the 5-year bond yield dropped to a 30-month low, signaling lower mortgage rates ahead. In fact, 5-year fixed mortgage rates are already available at 3.89%, a sharp decline from last year.
The BC Real Estate Association has painted a stark picture of what could happen if tariffs are imposed and Canada retaliates. They predict home sales could drop 30%, while active listings could rise 40%, leading to a more prolonged buyerâs market. Mortgage rates could climb to 6% by 2026, and while prices are still expected to rise, they would increase at a much slower pace. With so much uncertainty, many buyers and sellers may wait on the sidelines, similar to the early days of the pandemic.
At the same time, Vancouverâs housing market is seeing some surprising shifts. January sales were up 9% year-over-year, marking the strongest January in three years. But new listings surged 46% compared to last year, reaching one of the highest January levels on record. Inventory is climbing quickly, hitting 11,100 active listings, a 33% increase over last year. The last time inventory was this high in January was 2019, a year when prices declined slightly. The sales-to-active listings ratio now sits at 14%, confirming that we remain in a balanced market, but momentum is shifting.
Perhaps the biggest red flag is price movement. While the HPI benchmark price showed a slight increase in January, more immediate indicators tell a different story. Median prices dropped by $80,000, the largest single-month decline in 18 months, while average prices fell by $70,000, hitting their lowest level in two years. These sharp drops suggest that sellers may be adjusting expectations, while buyers hesitate to make moves in an uncertain environment.
So, whatâs next? With sellers eager to offload properties and buyers waiting for more clarity on tariffs and interest rates, the spring market could be weaker than expected. Early February sales trends suggest a slower start, but as we approach the peak season, things could shift. Will prices stabilize, or are we heading into a prolonged downturn? Tune in as we analyze whatâs happening in Vancouver real estate and where the market might be headed next.
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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In this special episode of the Vancouver Life Real Estate Podcast, we welcome Doug Porter, Chief Economist at BMO Financial Group, to provide unparalleled insights into Canadaâs economic landscape. With over 30 years of experience and a proven track record as one of the top economic forecasters in North America, Doug shares his expert analysis on the Bank of Canadaâs recent rate cut and its potential ripple effects across the economy, financial markets, and the Canadian housing sector.
We dive into hot-button topics like the impact of immigration policy changes on housing affordability, the long-term economic consequences of tariffs, and the evolving lending landscape in Canada. Doug also unpacks how the so-called âmortgage renewal cliffâ may not be as alarming as it sounds, highlighting how Canadians are adapting to higher interest rates.
From analyzing regional housing trendsâlike Vancouverâs surprising resilience compared to Torontoâs cooling condo marketâto exploring the broader implications of geopolitical tensions, this episode is packed with actionable insights for homeowners, investors, and anyone curious about Canadaâs economic outlook.
Dougâs practical advice for buyers, his predictions for interest rates, and his views on what Canada must do to foster economic stability make this an episode you donât want to miss. Whether you're planning your next real estate move or simply want to understand the forces shaping Canadaâs financial future, this conversation will leave you informed and inspired.
Tune in now and gain a deeper understanding of the market trends that matter most._________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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The final numbers for Canadaâs housing market in 2024 are in, and they've revealed some unexpected trends. Despite challenges such as high interest rates and declining housing starts, national home prices rose by 2.5% last year, bringing the average home price to $676,640. Every province and territory saw price increases except for Ontario, which experienced a modest 1.7% decline. The Northwest Territories led the nation with a remarkable 34.8% price increase, followed by New Brunswick at 15.5% and the Yukon at 12.8%. British Columbia also performed well, with home prices rising by 5.9%, while Alberta saw solid growth of 9.4%.
Ontarioâs slight decline, however, masks significant issues in the pre-construction condo market, particularly in Toronto, where sales hit a 28-year low in 2024. Newly constructed condos flooded the market, driving prices down by 10-15% or more in some cases as sellers undercut each other. Yet, when viewed at the provincial level, Ontarioâs overall housing market showed resilience, with a decline that remains manageable by most standards.
Meanwhile, inflation continues to ease, as the latest Consumer Price Index (CPI) print came in at 1.8%âthe second-lowest reading in 46 months. This marks a slight decline from Decemberâs 1.9% and the 16th consecutive month of cooling mortgage interest costs, which dropped from 13.2% to 11.6%. Rent inflation also eased, falling from 7.7% to 7.1%.
Inflation has now remained within the Bank of Canadaâs target range for 12 straight months, with the broader CPI reading excluding mortgage interest costs coming in at just 1.3%. These metrics, coupled with a strong employment report, suggest the Bank of Canada may lower interest rates at its next meeting, with markets currently pricing in a 0.25% cut that would bring the overnight rate to 3%, its lowest level since August 2022.
This data reinforces the importance of understanding how hyper-local real estate markets operate. For instance, in Vancouverâs Mount Pleasant East neighborhood, half duplexes reached their highest prices ever in 2024, climbing 7% above the 2022 peak. By contrast, condos in the same area are 3% below their peak prices, and detached homes are down 9%. These variations emphasize the need for precise, localized market insights when making real estate decisions.
Next week we have Mr. Doug Porter, the Chief Economist for the Bank of Montreal coming back on the show to discuss how he sees the Canadian economy shaping up for 2025
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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This weekâs episode is packed with crucial updates and insights that could directly affect your real estate decisions in 2025.
A much stronger-than-expected jobs report has thrown a wrench into predictions for interest rate cuts, potentially keeping the Bank of Canada on hold this January. With Canada adding 91,000 jobs last month, (far exceeding expectations) compounded by labour market strength is complicating the case for lower rates. However, not all is as it seems: 62,000 of those jobs went to workers over 55, and a significant portion came from public sector growth (44%!). We break down what this could mean for mortgage rates and why the 5-year bond yield is already climbing.
In Vancouver, affordability continues to be a challenge as recent policies are expected to push home prices higher. On the flip side, thereâs good news out of Burnaby, where one of the first multiplex building permits has been approved. The timeline, fees, and offsite costs surprised even the developerâand might give hope to those exploring small-scale development opportunities.
We also tackle the ongoing affordability crisis, exploring how the ban on natural gas in new construction and new net-zero mandates are inflating the cost of homes. For example, a fourplex project now have an additional $150,000 for electrical upgrades, adding roughly $40,000 to the cost of each unit. These policy changes are a stark reminder to âwatch what they do, not what they sayâ when it comes to government claims about building affordable housing.
Meanwhile, mortgage arrears are also starting to climb, with delinquency rates hitting a 9-year high in Toronto. Yet even as the headlines grab attention, the data tells a different storyâarrears remain well below pre-pandemic levels, and the overall risk of panic is low. However, with 50% of mortgage holders set to face higher payments over the next two years (in excess of 30+%), itâs clear that financial strain is building for many Canadians.
We also take a closer look at the nearly 30% of homes listed for sale that are vacant. Are they former Airbnbs, second homes, or properties listed to dodge the vacancy tax? Itâs a fascinating trend that raises more questions about the current state of the market.
And to cap it off, weâre excited to showcase a stunning family home on Vancouverâs prestigious Golden Mile in Kitsilano. Located on West 1st Avenue, this property boasts breathtaking ocean views, over $1 million in renovations, and one of the most luxurious primary suites youâll ever see. Donât miss this incredible listingâcheck it out at www.3262W1st.com
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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In this episode, we explore our predictions for the 2025 Vancouver Real Estate Market, diving deep into the economic and financial trends that will shape the year ahead. With Canadaâs GDP growth expected to remain moderate, driven by immigration and resource exports, the potential for a mild recession looms if elevated interest rates continue to slow consumer spending and business investment. We analyze the possibility of economic turbulence while discussing key signals in sectors like housing, manufacturing, and retail. Meanwhile, Canadaâs population growth is expected to drop considerably from before but will still be pushing the annual growth, to what extent remains to be seen. This sustained influx will fuel housing demand but could strain infrastructure and services.
On the employment front, the unemployment rate, currently at 6.8%, is projected to remain somewhat stable within the 6.5%-8% range. While population growth could create new job opportunities, sensitive sectors like construction and tech may see some challenges. Inflation, sitting at 1.9%, is anticipated to close the year between 2.0% and 2.5%, assuming stable monetary policy and limited disruptions in energy prices or supply chains. This outcome largely depends on US trade policy which has yet to be sorted out.
The Bank of Canadaâs interest rate, currently at 3.25%, is forecasted to ease slightly by year-end if inflation targets maintain and economic growth softens. In tandem, mortgage rates are likely to decline as well, with variable & potentially fixed rates dropping too. Despite these adjustments, Canadaâs mortgage arrears rate, historically low at around 0.15%, may see a slight uptick as households adjust to higher payments on renewals.
Turning to real estate, we predict a steady recovery in sales volumes, with activity returning near the 10-year average, barring any significant rate fluctuations. The sales-to-active listings ratio which is currently signaling balanced market conditions may tick up into a Seller's market with more interest rate fluctuations. Inventory levels may see modest growth too as many who did not sell in 2024 will return to the market to try again. In the pre-sale market, developers are projected to cautiously release new projects, reflecting a gradual increase in buyer confidence. After an 8% decline in rental rates during 2024, the rental market is expected to stabilize though this will largely depend on immigration levels and the overall performance of the economy.
In this episode we also highlight the top markets poised to outperform the Greater Vancouver region in 2025. We look at Surrey and Langley as they continue to attract buyers with affordability and infrastructure investment among a list of other locations that we strongly endorse. Tune in and find out which areas those are!
This episode provides a comprehensive roadmap for navigating the opportunities and challenges of Vancouverâs 2025 real estate market. Whether youâre a buyer, seller, or investor, these insights will help you stay ahead in a shifting landscape. Tune in to learn more about what to expect and how to make informed decisions in the year ahead or book a one-on-one exploratory call with us and we'll help guide you through this recovering marketplace.
_________________________________
Contact Us To Book Your Private Consultation:
đ https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
[email protected]www.thevancouverlife.com
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