Earlier in the month the Bank of Canada announced it's new rates, stating that "Economic recovery has not been strong enough to warrant a rate increase." The BoC decided to maintain it's 0.5% interest rate, citing economic growth is the priority.
The economy still continues to go through lengthy and complex adjustments. These adjustments are aided by the US recovery. The lower Canadian dollar is helping the export and non-resource sectors including real estate rise due to foreign investment. The west coast, primarily Vancouver, has seen and while continue to see a high amount of foreign Chinese investment in real estate due to the lower Canadian dollar, low interest rates and new policies for Chinese mainlanders.
The resource sector is still lower than expected due to the lack of business investment. Yet the labour market remains resilient at the national level.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
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