Tagged : kamloops property news

Canada’s rental vacancy rate edged up in 2016

Mainly due to the supply of apartments increasing, but rental housing was harder to find in Vancouver and Toronto, where a long housing boom has driven real estate investment and a condo building boom.

Canada’s vacancy rate increased to 3.4 per cent in October from 3.3 per cent a year earlier, as the number of new units hitting the market outpaced the rise in occupancy, the Canada Mortgage and Housing Corp said on Monday.

The vacancy rate is the percentage of all available units in a rental property, such as a hotel or apartment complex, that are vacant or unoccupied at a particular time. It is the opposite of the occupancy rate, which is the percentage of units in a rental property that are occupied.

The full results of the 2015 selling season have been released from Kamloops and district real estate association (KADREA)

So after a very busy year Kamloops saw 2001 sales with Brocklehurst posting the most sales just ahead of Aberdeen and Sahali.

So how did your community fare this past year?

Some facts on December sales:

Kamloops and District Median Residential Price: $348,000

Kamloops only Median Residential Price (does not include condominiums or mobiles): $375,000

Canada’s most expensive housing market will continue to see price gains well ahead of the rate of inflation for the next two years, according to a report from a group which represents credit unions in British Columbia.

Central1, which acts as an association for credit unions in B.C. and Ontario, now says the median sale price of a home in Greater Vancouver will climb another 6.1 per cent in 2016 after a 4.5 jump this year. In 2017, the organization is predicting a 3.8 per cent increase.

“Metro Vancouver home prices have remained in the spotlight, keeping the housing affordability debate percolating in the news and social media,” wrote economist Bryan Yu, the author of the report.

His forecast comes as the Real Estate Board of Greater