HomeDiagramsDatabaseMapsForum
     

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Alberta & British Columbia


Reply

 
Thread Tools Display Modes
     
     
  #21  
Old Posted Jan 25, 2018, 4:48 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Here's a news article about the growing moment to provide different housing options in small towns in BC. The town of Lumby with a population of around 2000, located about 30km east of Vernon is proposing changes to their land use bylaws to allow carriage and laneway houses within the municipality, to help address housing affordability.

http://www.beachradiovernon.ca/2018/...deas-in-lumby/

It's funny, because in a large city like Edmonton they've been lurching around for years trying to figure this out, while many small towns are quietly making significant progress without the grandstanding, hand wringing and placating to developers. I think the small towns may have started to figure this out much faster than the big cities
__________________
Short term pain for long term gain
Reply With Quote
     
     
  #22  
Old Posted Feb 23, 2018, 1:37 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Canadians with B.C. vacation homes to be hit with new tax

British Columbia's new property tax targeting out-of-province owners will hit Albertans and other Canadians who have vacation homes there with a big additional bill of thousands of dollars.

On Tuesday, one of the primary measures in the B.C. budget was the introduction of what the government is calling a speculation tax. It is aimed at foreign and domestic property owners who are parking capital in real estate and driving up prices in the province. It would apply to owners who do not pay income tax in British Columbia. Principal residences are exempt, as are properties with long-term renters.

A typical vacation home that is used several times a year but is otherwise empty would not be exempt. "If you are from outside the province and you leave your home vacant, you will be taxed," B.C. Finance Minister Carole James told reporters on Wednesday.

https://www.theglobeandmail.com/news...ampaign=PM2018
Reply With Quote
     
     
  #23  
Old Posted Apr 26, 2018, 8:07 PM
sunsetmountainland sunsetmountainland is offline
Registered User
 
Join Date: Jun 2011
Location: Another great post taking place from the best place on earth!
Posts: 1,155
Abbotsford, Mission emerge as commercial power centres

Quote:
The latest residential data underlines the strength of the economy of the far east of the Lower Mainland as Abbotsford and Mission report 1,777 new homes under construction in March.

Abbotsford reported record-breaking building permits in 2017, representing a 92 per cent increase over the previous year to a total value of $480 million.

Mission tallied $52 million in 2017 permits, up from $43.5 million a year earlier.

“Abbotsford Mission will post a real GDP gain of 2.5 per cent in 2018, led by strong gains in industrial production, as well as solid domestic demand, as it continues to attract families living in the Vancouver region who are seeking out more affordable housing,” the Conference Board of Canada stated in its recent Metropolitan Outlook 2018 report.

The region’s goods-producing sector will lead the way over the next two years, thanks to growing business opportunities, a lower Canadian dollar and a solid U.S. economy, the report noted.

Manufacturing activity is expected to remain healthy, especially in the key wood products industry.

“The outlook for the construction sector is also bright, with housing starts and non-residential investment both poised to be strong,” said Alan Arcand, associate director with the centre for municipal studies at the Conference Board of Canada.

While many think of Abbotsford as an agriculture community, aviation and aerospace is the No. 1 sector driving the city’s economy. The Industry Training Authority predicts the sector will need 4,000 new staff in the next five years alone. Abbotsford International Airport, the fourth busiest airport in B.C. and No. 20 in Canada, handles 114,528 aircraft movements per year and more than 677,000 passengers.

Abbotsford is also, of course, the agriculture capital of Canada, with gross farm receipts three times those of Ontario’s Niagara region, which is Canada’s second most productive agricultural area.

“A growing and diverse community, Abbotsford is affordable, conveniently located with access to vital transportation networks, and boasts a skilled and educated labour force,” said Mayor Henry Braun.
Quote:
The district of Mission is also becoming a destination for industrial real estate due to a lack of supply and higher prices in Metro Vancouver. With easy freeway access and just 15 minutes from the U.S. border, Mission is seen as ideal for distribution facilities.

There are two main industrial parks in the Mission area: Mission Industrial Park that allows light industry, warehouse, office use and even accessory retail; and Silver Creek Industrial Park, which has direct railway and Fraser River frontage.

The 39-acre Silver Creek Industrial Park has bays for sale or lease ranging from 3,060 square feet to 6,370 square feet.

Mission Industrial Park has lease opportunities for much larger spaces, from 10,000 square feet to 80,000 square feet, according to a District of Mission report.

Mission industrial space leases for an average of $8 to $9 per square foot.

Last year, industrial building permits in Mission reached $1.85 million, up about $500,000 from a year earlier.

Downtown Mission has a mix of historic buildings and modern architecture and amenities to support a city of nearly 40,000. Downtown street-front retail lease rates average $8 to $13 per square foot.

At Heritage Park Marketplace, close to the University of the Fraser Valley’s Mission campus, lease rates range from $22 to $26 per square foot, triple net. Rents are even higher at the Junction Shopping Centre, a 250,000-square-foot power centre, where lease rates average $32 per square foot, triple net.
http://www.westerninvestor.com/news/...res-1.23278563
Reply With Quote
     
     
  #24  
Old Posted Apr 26, 2018, 8:30 PM
SpongeG's Avatar
SpongeG SpongeG is offline
Registered User
 
Join Date: Jun 2006
Location: Coquitlam/Rainbow Lake
Posts: 34,593
hopefully Abbotsford goes up instead of spreading.
__________________
belowitall
Reply With Quote
     
     
  #25  
Old Posted Jun 6, 2018, 2:11 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Interesting article in the Edmonton Journal regarding BC recreational real estate prices. Especially noteworthy is that the South Cariboo is expected to be the recreational real estate hot spot this year, likely due to affordability in other popular recreational areas and that the area is exempt from the various levies on BC properties recently introduced

Values in the Okanagan Valley, a popular destination for Albertans, are projected to go up by as much as 7.8 per cent, with lakefront real estate anticipated to be worth $1.3 million.

But the report anticipates the country’s biggest price change will be a 25 per cent increase for lakefront homes near 100 Mile House, 200 km northwest of Kamloops.

They’ll be worth an estimated $394,000.

However, a new land speculation tax is expected to help push down average prices across B.C. by almost three per cent in 2018 as Albertans look more in their own province for getaway locations, the report says.


http://edmontonjournal.com/business/...is-year-report
Reply With Quote
     
     
  #26  
Old Posted Aug 1, 2018, 8:58 PM
misher's Avatar
misher misher is online now
Registered User
 
Join Date: Jul 2018
Posts: 2,340
Quote:
Originally Posted by 240glt View Post
Interesting article in the Edmonton Journal regarding BC recreational real estate prices. Especially noteworthy is that the South Cariboo is expected to be the recreational real estate hot spot this year, likely due to affordability in other popular recreational areas and that the area is exempt from the various levies on BC properties recently introduced

Values in the Okanagan Valley, a popular destination for Albertans, are projected to go up by as much as 7.8 per cent, with lakefront real estate anticipated to be worth $1.3 million.

But the report anticipates the country’s biggest price change will be a 25 per cent increase for lakefront homes near 100 Mile House, 200 km northwest of Kamloops.

They’ll be worth an estimated $394,000.

However, a new land speculation tax is expected to help push down average prices across B.C. by almost three per cent in 2018 as Albertans look more in their own province for getaway locations, the report says.


http://edmontonjournal.com/business/...is-year-report
Its going to be interesting to see the whole recreational housing market dictated by provincial government policies rather than at the municipal level. We're basically going to be restricting recreational housing to places exempt from the speculation tax.
Reply With Quote
     
     
  #27  
Old Posted Aug 9, 2018, 4:28 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
We're now actively shopping for property in the West Kootenays, most specifically on the North shore of Kootenay Lake, anywhere between Nelson to Balfour.

Prices are still good, and your money goes a long way, especially for undeveloped property which is what we're looking for. We're taking our time looking for the *perfect* spot to come up, so I hope there's no sudden interest in the area as other areas become affected by the tax
Reply With Quote
     
     
  #28  
Old Posted Nov 14, 2018, 3:15 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Pretty sharp departure from the overheated market that dominated the interior for a number of years

Real estate sales forecast slow across Okanagan

Don’t expect a real estate boom in 2019 and 2020, says a CMHC report.

Taylor Pardy, a B.C. market analyst with Canadian Mortgage and Housing Corporation, said the Okanagan overall will see a slowdown in housing sales and price growth due to rising mortgage interest rates and slowing population growth.

Pardy said the market characteristics for Kelowna are about the same for the South and North Okanagan as well

https://www.vernonmorningstar.com/ne...ross-okanagan/
Reply With Quote
     
     
  #29  
Old Posted Nov 14, 2018, 5:39 PM
Denscity Denscity is online now
Suburbs Suck
 
Join Date: Jun 2008
Location: Castlegar BC
Posts: 7,134
Quote:
Originally Posted by 240glt View Post
We're now actively shopping for property in the West Kootenays, most specifically on the North shore of Kootenay Lake, anywhere between Nelson to Balfour.

Prices are still good, and your money goes a long way, especially for undeveloped property which is what we're looking for. We're taking our time looking for the *perfect* spot to come up, so I hope there's no sudden interest in the area as other areas become affected by the tax
Any luck on finding your "perfect spot"? I've considered that area to be pricey for years but I wear affordable Castlegar glasses.
__________________
Daily 1 hour flights from YCG to YVR & YYC on ACX
British Columbia is named after the Columbia River, a 4 minute walk from my house
Exactly halfway between Vancouver and Calgary
castlegar.ca
Reply With Quote
     
     
  #30  
Old Posted Nov 14, 2018, 5:44 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Keeping a keen eye out.. we've kind-of decided on being in the Harrop-Proctor area. We'll be down for a few days coming up over the Christmas season, if this parcel is still around we'll go check it out. We've got some time though so not rushing into anything at this point.

https://www.realtor.ca/real-estate/1...er-road-harrop
Reply With Quote
     
     
  #31  
Old Posted Nov 14, 2018, 6:27 PM
Denscity Denscity is online now
Suburbs Suck
 
Join Date: Jun 2008
Location: Castlegar BC
Posts: 7,134
Quote:
Originally Posted by 240glt View Post
Keeping a keen eye out.. we've kind-of decided on being in the Harrop-Proctor area. We'll be down for a few days coming up over the Christmas season, if this parcel is still around we'll go check it out. We've got some time though so not rushing into anything at this point.

https://www.realtor.ca/real-estate/1...er-road-harrop
Looks like your link doesn't work at least for me buddy.
That is a nice area. Is that piece across the ferry?
__________________
Daily 1 hour flights from YCG to YVR & YYC on ACX
British Columbia is named after the Columbia River, a 4 minute walk from my house
Exactly halfway between Vancouver and Calgary
castlegar.ca
Reply With Quote
     
     
  #32  
Old Posted Nov 14, 2018, 7:10 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Quote:
Originally Posted by Denscity View Post
Looks like your link doesn't work at least for me buddy.
That is a nice area. Is that piece across the ferry?
Strange. works for me fine.

Yup, across the ferry and just up the hill. It's a really nice spot. That's the area we're keeping an eye on.
Reply With Quote
     
     
  #33  
Old Posted Nov 14, 2018, 10:40 PM
Denscity Denscity is online now
Suburbs Suck
 
Join Date: Jun 2008
Location: Castlegar BC
Posts: 7,134
Quote:
Originally Posted by 240glt View Post
Strange. works for me fine.

Yup, across the ferry and just up the hill. It's a really nice spot. That's the area we're keeping an eye on.
Prolly cuz I'm on my phone.
Nice view I'd imagine. You gonna work or retire when you move over here?
__________________
Daily 1 hour flights from YCG to YVR & YYC on ACX
British Columbia is named after the Columbia River, a 4 minute walk from my house
Exactly halfway between Vancouver and Calgary
castlegar.ca
Reply With Quote
     
     
  #34  
Old Posted Nov 14, 2018, 11:52 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Quote:
Originally Posted by Denscity View Post
Prolly cuz I'm on my phone.
Nice view I'd imagine. You gonna work or retire when you move over here?
Well it's the Kootenays. Find me a place without a nice view

My partner will be retired with a full pension by that time but still wants to work part time, or volunteer or something like that. I don't have the luxury of a fat government pension to kick my feet up on so I'll still be working for a while. I'm interested in starting a little property management company out there. Or maybe run some buildings for the school district or municipality or something like that
Reply With Quote
     
     
  #35  
Old Posted Nov 15, 2018, 4:44 AM
Denscity Denscity is online now
Suburbs Suck
 
Join Date: Jun 2008
Location: Castlegar BC
Posts: 7,134
Quote:
Originally Posted by 240glt View Post
Well it's the Kootenays. Find me a place without a nice view

My partner will be retired with a full pension by that time but still wants to work part time, or volunteer or something like that. I don't have the luxury of a fat government pension to kick my feet up on so I'll still be working for a while. I'm interested in starting a little property management company out there. Or maybe run some buildings for the school district or municipality or something like that
Ha good point. Pretty spoiled here.
__________________
Daily 1 hour flights from YCG to YVR & YYC on ACX
British Columbia is named after the Columbia River, a 4 minute walk from my house
Exactly halfway between Vancouver and Calgary
castlegar.ca
Reply With Quote
     
     
  #36  
Old Posted Feb 7, 2019, 5:41 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
I found this article particularly interesting, written by local booster-boy and shill David Staples in the Edmonton Journal. He's basically lamenting an Edmonton developers' struggle to build million dollar properties in BC as a result of recent decisions by the BC government.

In the piece both Staples and the developer, Cal Nichols, were gleefully looking forward to the Liberals unseating the NDP in Nanaimo. I hope they both had a good cry when things didn't go their way.

Cal Nichols represents everything that is wrong with real estate developers in BC. BC doesn't need them, I hope they don't develop anything more in BC moving forward

https://edmontonjournal.com/business...ion-on-b-c-ndp
__________________
Short term pain for long term gain
Reply With Quote
     
     
  #37  
Old Posted Feb 20, 2019, 12:30 AM
misher's Avatar
misher misher is online now
Registered User
 
Join Date: Jul 2018
Posts: 2,340
The NDP is forecasting a 30% decrease in housing starts by 2021 http://udi.bc.ca/wp-content/uploads/....C.-Budget.pdf

With large increases in property taxes and speculation taxes, more than double. Does that hint that they see assessed values doubling as well? Or possibly more empty homes?
Quote:
Despite falling housing start volumes, revenue generated by the new speculation and vacancy taxes is anticipated to be relatively high – increasing from $87 million in 2019/20 to $185 million for each of the forthcoming three fiscal years.
Quote:
Overall, property taxes are expected to rise from $2.601 billion in 2018/29 to $3.25 billion in 2021/22.
https://dailyhive.com/vancouver/budg...nues-rise-2019

B.C. budget includes no new taxes, relies on rebound in housing market to increase revenue
https://www.theglobeandmail.com/cana...ousing-market/

Last edited by misher; Feb 20, 2019 at 12:42 AM.
Reply With Quote
     
     
  #38  
Old Posted Apr 18, 2019, 3:45 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
100 Mile House had northern BC's least affordable real estate last year

Of all communities in Northern B.C. with at least 75 detached single-family home sales per year, 100 Mile House was the least affordable in 2018.

According to the BC Northern Real Estate Board (BCNREB), affordability worsened slightly last year in most northern communities, but only 100 Mile House had a housing affordability indicator significantly above 30 per cent.

https://www.100milefreepress.net/new...b-c-last-year/
__________________
Short term pain for long term gain
Reply With Quote
     
     
  #39  
Old Posted Apr 22, 2019, 6:30 PM
lubicon's Avatar
lubicon lubicon is offline
Suburban dweller
 
Join Date: Jun 2003
Location: Calgary - our road planners are as bad as yours Edmonton
Posts: 4,821
Quote:
Originally Posted by 240glt View Post
100 Mile House had northern BC's least affordable real estate last year

Of all communities in Northern B.C. with at least 75 detached single-family home sales per year, 100 Mile House was the least affordable in 2018.

According to the BC Northern Real Estate Board (BCNREB), affordability worsened slightly last year in most northern communities, but only 100 Mile House had a housing affordability indicator significantly above 30 per cent.

https://www.100milefreepress.net/new...b-c-last-year/
Interesting.
too bad the article (as always) does not really say why other than by providing some generalities that don't mean much. How much of a factor does taxes, wages, and actual housing prices actually play? Is 100 Mile House unaffordable because houses are expensive? Or there are few high paying jobs? Or the town taxes the crap out of housing units?
__________________
Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe.

Albert Einstein
Reply With Quote
     
     
  #40  
Old Posted Apr 23, 2019, 2:14 PM
240glt's Avatar
240glt 240glt is offline
HVAC guru
 
Join Date: Sep 2006
Location: YEG -> -> -> Nelson BC
Posts: 11,297
Quote:
Originally Posted by lubicon View Post
Interesting.
too bad the article (as always) does not really say why other than by providing some generalities that don't mean much. How much of a factor does taxes, wages, and actual housing prices actually play? Is 100 Mile House unaffordable because houses are expensive? Or there are few high paying jobs? Or the town taxes the crap out of housing units?
Those are good questions that are not mentioned in the article. I am not sure what the taxes rate is in the town of 100 Mile House, At our cabin which is well outside the city boundaries we only pay taxes to the regional district and they are quite low, but of course we get only the most basic of services out at the lake compared to town. But based on what I've seen out there, it's probably a combination of lower wages (The area's primary industry is forestry) higher housing costs (Prices for an average single family house in town are almost as high as they are in Edmonton) Lack of supply (They build a ton of new houses on large acreage lots outside town but very few houses in town) Which I think drives prices up. There's also a pretty large snowbird population up there which drives prices up.

A local doctor went through the process of building a 4plex last year because he had significant difficulty attracting professional staff to town. The rentals in town are not very good, and while once again there is an abundance of properties outside the city, there are few options for people who want to live in town, making in town properties a bit of a premium when really they shouldn't be. Residents fought the development because they did not want the 4plex but the town approved it anyways.
__________________
Short term pain for long term gain
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Alberta & British Columbia
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 11:53 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.