Vancouver Real Estate Specialist

Blog › May 2016

8X on the Park in Yaletown


context

8X On The Park features 278 Units of Market Residential, 110 Units of Market Rental Residential and 8,000sf of Commercial Space and Daycare Facilities. Size of this project is 365,000sf with LEED Gold Sustainability. There will be mix of Jr. 1 up to 3-bedroom units.  GBL Architects drew inspiration for the conceptual design from the surrounding areas:  Emery Barnes Park, grid of the nearby streets, and the Yaletown skyline of various architectural styles.  There will also be a private Montessori pre-school and kindergarten in the building on the first two floors.  

The developer agreed to replace the aging Jubilee House social housing building by building a brand new one across the street before 8X is constructed.

Project Details:

Architect: GBL Architects
Address: 1111 Richards St. Vancouver, BC, Canada
Completion: TBA
Number of Stories: 35 stories
Number of units: 388
Pricing: TBA
Floorplans: TBA

Amenities

  •  24 Hour Security
  •  Party Room
  •  Rooftop Patio
  •  BBQ Area
  •  Visitor Parking
  •  Concierge Service
  •  Lounge and Library
  •  Storage Lockers
  •  Dog Play Area
  •  Dog Grooming Facility
  •  Bicycle Storage
  •  Underground Parking
  •  Gym
  •  Rooftop Garden

parkbrenhill website photos featured 1000x628 32 1111richards 3 min 1111 richards condo vancouver4



April 2016 Real Estate Market Stats


reps real estate market update a

Home sales remain at record levels across Metro Vancouver

Last month was the highest selling April on record for Metro Vancouver.

Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4 per cent from the 4,179 sales recorded in April 2015 and a decrease of 7.6 per cent compared to March 2016 when 5,173 homes sold.

April sales were 41.7 per cent above the 10-year sales average for the month. 

“Home buyer competition remains intense across the region,” Dan Morrison, REBGV president said. “Whether you’re a home buyer or seller, it’s important to work with your local REALTOR® to get the information you need and to develop a strategy that will help you navigate today’s market.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,127 in April 2016. This represents an increase of 3.9 per cent compared to the 5,897 units listed in April 2015 and a 2.4 per cent decline compared to March 2016 when 6,278 properties were listed.

"While we’re seeing more homes listed for sale in recent months, supply is still chasing this unprecedented surge of demand in our marketplace," Morrison said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,550, a 39.3 per cent decline compared to April 2015 (12,436) and a 2.6 per cent increase compared to March 2016 (7,358).

The sales-to-active listings ratio for April 2016 is 63.3 per cent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $844,800. This represents a 25.3 per cent increase compared to April 2015.

Sales of detached properties in April 2016 reached 1,979, an increase of 9 per cent from the 1,815 detached sales recorded in April 2015. The benchmark price for detached properties increased 30.1 per cent from April 2015 to $1,403,200.

Sales of apartment properties reached 2,107 in April 2016, an increase of 33.4 per cent compared to the 1,579 sales in April 2015.The benchmark price of an apartment property increased 20.6 per cent from April 2015 to $475,000.

Attached property sales in April 2016 totalled 695, a decrease of 11.5 per cent compared to the 785 sales in April 2015. The benchmark price of an attached unit increased 22.1 per cent from April 2015 to $608,600.

Download the full stats package by clicking here



Venue in Surrey


venue logo circle rgb 72dpi 2016 04 13 01 48 31 160405 605x

 

Project name: Venue

Project size: 141 homes in a five-storey wood-frame building

Project location: 114 10768 Whalley Boulevard, Surrey

Residence size: 410 – 825 sq ft

Prices: all homes less than $300,000

Developer: Tien Sher

Architect: Taizo Yamamoto, Yamamoto Architecture Inc.

Sales begin: April 30

Occupancy: Summer 2018

Amenities:

  •  Fitness Studio
  •  Rooftop Barbecue Terrace
  •  Fire Pit
  •  Roof Terrace
  •  Common Area
  •  Beer Garden

venue is a new home project from developer tien sher set to

3897 01 201603171903571636