EXECUTIVE SUMMARY Multifamily and the land that we sell have always been sister asset classes because our land deals are the prerequisite to build multifamily homes. As we move into an income-focused market with buyers looking for properties that provide a return, we see multifamily as a natural candidate for stable returns in a volatile … Continued

EXECUTIVE SUMMARY The first quarter of 2025 brought a complex macroeconomic landscape, marked by shifting trade dynamics and rising protectionism. These trends signal tighter household and small business spending. The April 16th announcement from the Bank of Canada brought with it a hold to the current rate of 2.75%. I believe this was not so … Continued

EXECUTIVE SUMMARY The combination of favorable interest rates, successful rollout of TOA policies, and strategic market activity sets a strong foundation for continued growth in Vancouver’s development land sector. Developers are well-positioned to capitalize on demand for transit-oriented housing, leveraging policy stability and accessible borrowing conditions to advance key projects. While the potential for new … Continued

EXECUTIVE SUMMARY In British Columbia, the real estate market has experienced a stable but cautious market, with modest declines in sales volume year-over-year. The introduction of more favourable interest rates could encourage greater activity, but the market remains balanced by significant supply of new listings and land development opportunities. Prices have seen little movement, reinforcing … Continued

INTEREST RATES Q2 was defined by the Bank of Canada’s fourth rate announcement on June 5th when it finally carried out the first rate cut in over four long years, citing steadily declining inflation and slackening GDP as the drivers of its decision. Source: WOWA INFLATION Canada’s annual inflation rate edged up to 2.9 per … Continued

INTEREST RATES March 6, 2024 led to the 5th straight decision from the Bank of Canada to keep its policy rate flat leaving bank prime at 7.20% and leaving lenderslooking for signs that the central bank would “green-light” a rate drop. Source: CMHC INFLATION The central bank said that inflation is still too high but … Continued

EXECUTIVE SUMMARY Regardless of current inverted bond yields and Canada’s economic contraction of GDP in Q3, Metro Vancouver and the Fraser Valley continue to be a robust place for commercial real estate because of the need for housing and the opportunity for investment in performance assets such as multifamily rentals. With interest rates now flattening … Continued

INTEREST RATES Canada’s Overnight Rate climbed steadily to 4.50%; a level not seen since November 2007. With short-term rates rapidly and artificially propped up, Canada’s yield curve has become inverted over the past several quarters, indicating a very likely upcoming policy-induced recession. Source: Impact Commercial INFLATION Inflation is trending down overall, but it remains elevated … Continued