Provincial Housing Market Showing Signs of Recovery Heading into Spring

 

Photo Credit: BCREA

The British Columbia Real Estate Association (BCREA) reports that a total of 4,775 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2023, a decrease of 46.5 per cent from February 2022. The average MLS® residential price in BC in 2023 was 941,575, down 14.7 per cent compared to the average price of over $1.1 million in February 2022, recorded at the market's peak. The total sales dollar volume was $4.5 billion, representing a 54.4 per cent decrease from the same time in the previous year.

“While activity across provincial housing markets remains well below normal,” said BCREA Chief Economist Brendon Ogmundson. “There are encouraging signs that the market is balancing out. Home sales rose month-over-month in most markets, and prices appear to be firming up in the face of low supply.”

Worth mentioning, the provincial MLS® average price was up 8.5 per cent month-over-month to its highest level since July 2022, partially due to a more stable market but also because of the composition of sales reverting to a more normal mix following low sales of single detached homes through the Lower Mainland in January.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source: REBGV

New Strata Property Act amendments: the end of rental and age restrictions

 

The BC government’s Bill 44 amendments to the Strata Property Act are now in effect. These amendments end rental restrictions, all but one age restriction, and add the ability to hold virtual meetings without the need for a bylaw.

Here’s a quick overview of what these new rules will mean for people who own, or are looking to buy, strata properties.

Rental restrictions

• Stratas can no longer enforce rental restrictions. For example, if a strata has a bylaw restricting rentals to a certain percentage of units, they can no longer enforce this rule.
• This only applies to long-term rentals. Stratas can still enforce short-term rental restrictions.
• Renters still need to follow other strata bylaws.
• While owners currently renting out their units previously in contravention of a strata bylaw are no longer in breach of the bylaw, they are liable for any breach of a rental restriction prior to November 24, 2022 – when the amendments became law.

Age restrictions

• There are now only two age-related options for stratas: a bylaw requiring at least one resident in a unit to be 55 years-old or older; or no age restriction bylaw.
• All other age restrictions are unenforceable, including restrictions for older or younger ages. For example, a strata requiring residents be 60 years old or older can no longer enforce this rule.
• This rule has no relation to rental restrictions – a 55+ strata can’t restrict rentals.
• Live-in caregivers are allowed to live in age-restricted stratas, including caregivers under the age of 55, regardless of current strata bylaws.

Virtual/electronic strata meetings

• Stratas can now conduct annual and special general meetings virtually without a bylaw explicitly allowing them to do so.
• The strata council chooses the format of the meeting, which the council must include in the notice sent to residents.
• Along with the date, time, and type of meeting, stratas must include instructions on how to attend.
• Stratas can use any electronic meeting tool so long as it allows all meeting participants to communicate with each other, and the chair can determine if the participants are eligible voters.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source: REBGV

Below average home sales allow inventory to inch upwards

 

February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,808 in February 2023, a 47.2 per cent decrease from the 3,424 sales recorded in February 2022, and a 76.9 per cent increase from the 1,022 homes sold in January 2023.

Last month’s sales were 33 per cent below the 10-year February sales average.

“It’s hard to sell what you don’t have, and with new listing activity remaining among the lowest in recent history, sales are struggling to hit typical levels for this point in the year,” said Andrew Lis, REBGV’s director, economics and data analytics. “On the plus side for prospective buyers, the below-average sales activity is allowing inventory to accumulate, which is keeping market conditions from straying too deeply into sellers’ market territory, particularly in the more affordably priced segments.”

There were 3,467 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2023. This represents a 36.6 per cent decrease compared to the 5,471 homes listed in February 2022 and a 5.2 per cent increase compared to January 2023 when 3,297 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,868, a 16.7 per cent increase compared to February 2022 (6,742) and a 5.2 per cent increase compared to January 2023 (7,478).

“While we continue to expect home price trends to show year-over-year declines for a few more months, current data and market activity suggest pricing is firming up. In fact, some leading indicators suggest we may see modest price increases this spring, particularly if sales activity increases and mortgage rates hold steady,” Lis said. “In the somewhat unusual market environment we find ourselves in right now with higher mortgage rates, fewer sales, and inventory that is inching higher but remains far from abundant, working with a Realtor who understands your local market conditions and has experience navigating challenging markets is paramount.”

For all property types, the sales-to-active listings ratio for February 2023 is 23 per cent. By property type, the ratio is 16.8 per cent for detached homes, 30.1 per cent for townhomes, and 25.8 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,123,400. This represents a 9.3 per cent decrease over February 2022 and a 1.1 per cent increase compared to January 2023.

Sales of detached homes in February 2023 reached 514, a 49.1 per cent decrease from the 1,010 detached sales recorded in February 2022. The benchmark price for detached properties is $1,813,100. This represents a 12 per cent decrease from February 2022 and a 0.7 per cent increase compared to January 2023.

Sales of apartment homes reached 928 in February 2023, a 49.9 per cent decrease compared to the 1,854 sales in February 2022. The benchmark price of an apartment property is $732,200. This represents a three per cent decrease from February 2022 and a 1.6 per cent increase compared to January 2023.

Attached home sales in February 2023 totalled 366, a 34.6 per cent decrease compared to the 560 sales in February 2022. The benchmark price of an attached unit is $1,038,500. This represents a 6.3 per cent decrease from February 2022 and a 1.8 per cent increase compared to January 2023.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source: REBGV

36 Best Things To Do In Vancouver

 Vancouver is one of the most picturesque cities in the world. Located on the Strait of Georgia, spliced by False Creek, and backed by towering mountains, Vancouver, Canada balances outdoor activities with many cultural highlights. This year-round destination has plenty of hiking trails and outdoor events in the summertime and in the winter you can go ice skating at one of its many arenas or hit the awesome ski slopes located just minutes from the downtown core.

The Top Things To Do In Vancouver, Canada

Downtown Vancouver features museums, galleries, and the beautiful Stanley Park. It’s a happening city in its own right. But very few locations can lay claim to the sort of scenery Vancouver provides. Beyond the city are snow-capped peaks carved by years of slow-moving glaciers. The Coast Mountains which cut through British Columbia are awe-inspiring allowing visitors a wide spread of activities to enjoy. This comprehensive guide will help you uncover the best things to do in Vancouver, Canada.

1. Granville Island

Many cities have wonderful stories of old warehouses reborn to become a top attraction. Vancouver’s version of this is Granville Island. The old industrial port in the city has been replaced by a thriving arts community with restaurants and microbrew pubs, boutique shops, and entertainment. Granville Island is one of the first places you should see when visiting Vancouver.

Inside the warehouses, you’ll find art galleries featuring local artists, a boisterous dining scene and independent theaters. If you’re up for a pint, check out Granville Island Brewing Company. Granville Island is technically not an island, so you can arrive via both car and ferry.

Granville Island Market

But perhaps the most popular thing to do here is to explore the Granville Island Public Market. Come here for fresh produce and delicious treats. The Granville Island Public Market showcases local food and artisanal products, with over 50 vendors offering a wide variety of fresh and locally-sourced produce, meats, cheeses, seafood, and baked goods. It’s a great place to sample the flavors of British Columbia and support local farmers and producers.

The market also offers educational experiences for visitors, including culinary workshops and tours, wine tastings, and cooking classes. Take a tour where you can learn about the history of Granville Market and its vendors, as well as the local food and artisanal production processes.

2. Stanley Park

The most famous of all the Vancouver Parks is Stanley Park. Located on the peninsula in the West End of Vancouver, Stanley Park is one of the top tourist attractions offering a natural escape just steps from downtown Vancouver. The edge of the park carves along the bay, providing excellent biking and a place for casual strolls along the iconic Stanley Park Seawall. Beyond the water, you’ll find another top attraction on this list of things to do in Vancouver, the Vancouver Aquarium.

Stanley Park offers visitors a chance to escape the city just steps away from the downtown core. The Stanley Park seawall starts at the Vancouver Convention Centre and goes all around the park to Spanish Banks Park. You can walk, cycle, or rollerblade around the seawall to see some of the park’s top attractions.

Hot Tip: At the Stanley Park Totem Poles, you’ll find one of the best views of Vancouver’s beautiful skyline. Get on a bike to explore Stanley Park with this guided cycling tour.

Stanley Park is a great spot for an afternoon picnic with space for yard games. In the summer, the heated public pool is open, bringing excited families along for the afternoon. While in spring, colors burst through the landscape, including vibrant cherry trees.

• One of the best ways to see Vancouver and Stanley park is on a private tour. Book this highly-reviewed private tour to see Stanley Park, Granville Island, Gastown, Canada Place, and more on a four-hour excursion all to yourself.

3. Canada Place

Not to be confused with a classic ocean-going vessel, Canada Place is a permanent structure located at the Vancouver Convention Centre on Vancouver Harbour. The pier rolls way out into Vancouver harbor, providing travelers and locals with wonderful views of the mountains in the distance and the picturesque bay.

Beyond being a cruise ship terminal, Canada Place is also the Vancouver Convention Center which hosts over 500 events each year, and The Pan Pacific Hotel. But that’s not why it’s on the list. Also at the end of the pier is Flyover Canada. Jump in the flight simulator and explore the country from above. Most Alaska cruises depart or end in Vancouver. We ended two Alaskan cruises by sailing into Vancouver Harbour. Check out our cruise experience to Alaska.

Where to Stay

We have a complete guide of Where to Stay in Vancouver, but another great place to stay near the Vancouver Convention Center before or after your cruise is the Fairmont Pacific Rim. This historic hotel is opulent and luxurious yet the contemporary rooms have all the high-tech amenities.

Trade the indoor pool for a lavish rooftop swim before sitting down at one of the three on-site restaurants, including The Botanist, a renowned fine dining experience. With so much to see within easy walking distance, enjoy a great location in style.

4. False Creek

False Creek is the heart of Vancouver, British Columbia. This bustling inlet has many of the top attractions in the area that draw visitors from all over the world. From Granville Island and the Island Public Market to Science World, take a stroll along False Creek’s Seawall to take in the views of the Vancouver Skyline.

This scenic tour takes you on a 90-minute boat tour from False Creek to Lighthouse Park. You’ll see the resident seal colony, the city’s beaches, and the Lions Gate Bridge while taking in the Vancouver Skyline.

5. Olympic Village

Don’t forget to visit Olympic Village, a newly developed area located on the southeast shore of False Creek. Vancouver’s Olympic Village was home to the athletes during the 2010 Winter Olympics and has since been transformed into a vibrant community that features restaurants, shops, and public art. Also known as the Southeast False Creek neighborhood, it is just minutes from the city center.

Vancouver’s Olympic Village is home to several popular craft breweries, including Brassneck Brewery, Steel Toad Brewing, and Main Street Brewing, making it a great spot for beer lovers to explore the Craft Beer Scene. It is also home to a number of public art installations, including the popular A-Maze-ing Laughter sculpture, which features 14 bronze figures laughing and playing.

This is an excellent neighborhood for shopping with a variety of unique shops, boutiques, and restaurants, including the trendy dining spot, The Flying Pig, and the popular local bakery, Terra Breads.

False Creek Ferries

Make sure to hop on the False Creek Ferries to enjoy the water taxi service offering a unique way to explore the area. It stops at Granville Island, Science World, and Yaletown. It’s a fun and unique way to get around the area.

6. Yaletown

One of our favourite places to hang out is the trendy neighborhood of Yaletown where there are chic restaurants, boutique shops, and a vibrant nightlife. Overall, False Creek offers a diverse range of attractions that are sure to appeal to visitors of all interests and ages.

One of our favorite ways to see a city is to join a cycling tour. This guided tour takes you along the seawall and through the city’s most popular neighborhoods including Yaletown, and Chinatown, with a stop at the serene Dr. Sun Yat-Sen Garden (Another one of the top things to do in Vancouver) and Strathcona—Vancouver’s oldest residential neighborhood. 

Where to Stay near Yaletown

The Opus Vancouver is an excellent boutique hotel located in Yaletown that is within walking distance of everything in the city center. Plus there are great options for dining and nightlife close by and it’s just a short walk to the waterfront. 

7. Science World

When traveling around Vancouver, there’s a chance you may have noticed the huge metal dome structure on False Creek. What you may not know, is that it’s home to one of the top things to do in Vancouver with kids.

The family-friendly Science World features 12 interactive exhibits designed to get you thinking about how the world works. Activities range from exploring motion, water, and the history of inventions.

The 12 exhibits are complemented by various touring exhibitions that have been a part of renowned museums and other science centers. Once you’re all done exploring, kick back and watch a show on the massive five-story domed screen. The largest of its kind on earth.

8. Watch The Vancouver Canucks

We all know Canada to be a hockey-mad country, so why not lean into the excitement and venture off to a local game? The Vancouver Canucks play in the NHL, which runs from October to April, and the home team averages just under 20,000 for each game.

Playing out of Rogers Arena, grab yourself a foam finger and root for the home team. Whether you know much about hockey or not, the noise of the crowd is sure to get you involved. Once the game is over, downtown Vancouver will be at your disposal.

We love doing walking tours when we first arrive in a city and one of the best ways to see Vancouver is to book this Guided City Highlights Tour.

9. Chinatown

After passing through the impressive Millenium Gate, you’ve officially arrived in Vancouver’s bustling Chinatown. This part of the city mixes modern development with many historic buildings from Vancouver’s early years. Vancouver’s Chinatown is one of the largest in North America and is a top spot for cheap eats. The iconic Dim Sum at Floata Seafood Restaurant is a must-eat on any visit.

After eating a tad too much, explore the interesting local shops before making your way to Dr. Sun Yat Sen Classical Chinese Garden. Created via traditional methods, with manicured gardens and beautiful streams, the gardens are a nod to the Ming Dynasty.

10. Grouse Mountain

Crossing over the Lions Gate Bridge, we take you to North Vancouver to enjoy Grouse Mountain. At any time of year, visiting Grouse Mountain is one of the best things to do in Vancouver. The view from the top provides unmatched scenery, with epic vistas of the city skyline in the valley below. You can take a scenic ride up the Gondola or tackle the Grouse Grind.

The infamous Grouse Grind, often described as Mother Nature’s StairMaster is one of the top hikes in Vancouver. Once at the top of Grouse Mountain, there are plenty of things to do from going ziplining, hiking, seeing the resident grizzly bears that were rescued as orphans 20 years ago, and taking in the spectacular views.

When the snow falls, Grouse Mountain becomes a winter paradise, with skiing, skating, and snowshoeing on offer. Because of ample beginner runs, it’s a magnificent spot for the family to go skiing.

Getting to the summit is simple thanks to the gondola that runs every day. After the scenic ride, hiking adventures await along with mountain-top restaurants. Ready to explore Vancouver’s nature? Read up on the best hikes to do in Vancouver.

11. Capilano Suspension Bridge

While visiting Grouse Mountain in North Vancouver, it’s good to combine a visit to the Capilano Suspension Bridge. Having the moniker of Vancouver’s first tourist attraction may make visitors wonder if the Capilano Suspension Bridge is outdated. Yet the city’s suspension bridge, which opened in 1889, continues to wow and thrill those that walk across the Capilano River to this day.

The 70m footbridge connects two sides of a deep canyon with the Capilano River slicing through below. There are hiking trails and outdoor adventures waiting on the other side. The bridge sees a lot of visitors, so it’s one of those attractions that is well worth getting up early for.

Conveniently, you can catch a free shuttle to the Capilano Suspension Bridge from downtown Vancouver. Once you’ve arrived, up the ante by experiencing the transparent Cliff Walk for an awesome thrill. Pick up this self-guided tour of the attraction that includes entry to the park.

12. Queen Elizabeth Park

From one park to another, Queen Elizabeth Park has a bit of everything. The center of the park known as Little Mountain is the highest point in the city. Queen Elizabeth Park is a great place to go for sunset and is one of the best places to see Vancouver’s Skyline. From here you can also see the snow-capped peaks to the north.

While Stanley Park is all about nature, Queen Elizabeth Park is fun-packed. Come here for mini and disk golf, tennis courts, and the Bloedel Conservatory. The latter features an illuminated geodesic dome. Also in the urban park is the Quarry Garden. The repurposed quarry comes with a spectacular entrance and is a wonderful place to walk on a clear day.

13. Commodore Ballroom

If you are looking for things to do in Vancouver at night, check out some music at Vancouver’s most historic live music venue. Located on Granville Street, The Commodore Ballroom has seen the likes of Kiss, B.B. King, David Bowie, and The Police grace its stage. Today it is still going strong and is one of the most influential venues in North America.

14. Whale Watching

Vancouver is a fun city to explore but it is even better on a boat tour. Beyond the city limits lies an incredible place to see migrating whales. Off the coastline of British Columbia, eager whale watchers keep their eyes peeled for gray and humpback whales.

he whale watching season begins in March as the temperatures begin to rise and last until October. You’ll discover plenty of ways to see these beautiful beasts, whether that be from a private dinghy, touring boat, or from above in a plane. Beyond whales, it’s common to spot orcas and minke on your journey.

15. Vancouver Art Gallery

In downtown Vancouver, the city’s prominent art gallery is one of the top art institutions in Canada. One of the best things to do in Vancouver is to sign up for a guided tour of the Vancouver Art Gallery. It is a meeting place and hosts fun community events

On any day during the week, you can explore the innovative art space with the helping hand of an expert. Learn about the displays and the stories behind them. When you’re ready for a break, sit down at the on-site bistro patio before going out on your own. The Vancouver Art Gallery is next to Robson Square, a popular gathering place in the city center.

16. Vandusen Botanical Garden

An oasis in the heart of the city, VanDusen Botanical Garden, is a sight to behold. All told, the garden covers a massive 55 acres with a worldwide plant selection that adds to over 7000 plants.

The quiet setting is the perfect way to relax and escape from the oft-chaotic downtown Vancouver. Keep your camera handy as you explore the colorful gardens, art sculptures, unique architecture, and even a beguiling waterfall.

There are multiple restaurants on-site that offer anything from a relaxing coffee to a scrumptious midday meal. If you’re in Vancouver during the winter, stop by for the annual Festival of Lights.

Looking for more things to do in British Columbia? Read these articles for travel inspiration

• Vancouver to Whistler – Best of the Sea to Sky Highway
• Sunshine Coast BC – The Perfect Road Trip Itinerary
• 23 Awesome Things to Do in Whistler, BC

17. Vancouver Maritime Museum

Although offering splendid views of English Bay, the inside of the Vancouver Maritime Museum is what guests remember the most. One of the top things to do in Vancouver is to explore the historic museum and learn seagoing tales that date back centuries.

The museum offers a diverse range of perspectives and takes a look at prominent explorations in the Pacific Northwest and the Arctic Oceans. Inside the stunning A-frame building is the beautiful RCP Vessel St Roch. Jump behind the wheel and feel what it would be like to helm the historic boat.

18. Vancouver Lookout

The Vancouver Lookout is a popular tourist attraction located in the city center on the top floor of the Harbour Centre building. The 360-degree observation deck stands at 168 meters (553 feet) offering spectacular views of Vancouver’s Skyline, The North Shore Mountains, the Pacific Ocean, and English Bay.

Interactive exhibits: In addition to the observation deck, the Vancouver Lookout also features a range of interactive exhibits that educate visitors about the city’s history, culture, and landmarks. These exhibits include historical photographs, 3D models of the city, and multimedia displays.

Accessibility: The Vancouver Lookout is fully accessible to people with mobility issues, with elevators that provide access to the observation deck and exhibits. The attraction is also wheelchair-friendly, with wide doorways and accessible washrooms.

19. Lynn Canyon

Capilano Suspension Bridge may get all the plaudits, but it isn’t the only one of its kind in Vancouver. The Lynn Canyon suspension bridge is a local favorite, particularly as it avoids the tourist hordes and doesn’t cost a penny.

In the Lynn Valley, Lynn Canyon Park brings spectacular scenery that is sure to excite your inner explorer. Several forest trails lead you to remote swimming holes and natural waterfalls. Eventually, you’ll stumble upon the bridge, which connects to the other side over 50 hair-raising meters.

20. Museum Of Anthropology

Note: The Museum of Anthropology is temporarily closed for most of 2023 for upgrades to ensure that the Indigenous collections are housed in this but visiting the grounds of UBC is still worth a visit. You can also visit its rose garden for stunning views of the mountains and ocean.

The Museum of Anthropology is a section of the University of British Columbia and has a keen focus on the Northwest Coast First Nations. Explore native art, large totem poles, and mosaics. Beyond local human history, the museum looks toward the South Pacific, Asia, Africa, and Europe. It all comes together inside an old World War II fort transformed into a cultural highlight.

21. Explore Gastown

As the city’s oldest district, Gastown is a must-visit on your travels to Vancouver. Gastown developed on the back of legendary John Deighton. The man was a griot, a throwback to past storytellers, and quickly gained the nickname, Gassy Jack. A statue of Deighton can now be found in Maple Tree Square.

Gastown offers an immense number of quality restaurants, interesting galleries, and local boutiques. All are placed within Victorian-era buildings.

Just a brief walk from Canada Place, Gastown is lined with cobblestone streets lit by classic lampposts. It’s a journey back in time, especially when the fog rolls in and the lamps shine through the clouds. You can book walking tours of Gastown like This highly rated lost souls of Gastown tour.

22. Kitsilano Beach

Vancouver has plenty of urban beaches and one way to soak up the sun when in Vancouver is with a trip to Kitsilano Beach. The local favorite is a laid-back location with dazzling city and mountain views. The spacious beach is popular on summer days when locals come to bake on the soft sands or have fun on the volleyball courts.

Jumping in the water isn’t so popular, but you’ll soon discover a heated outdoor pool. Once you’re done having a dip, dry off and enjoy the several walking trails through the green space, or kick back at a local cafe. You’ll also find yourself minutes from shopping on West Fourth Avenue.

23. Visit Wreck Beach

Wreck Beach has been famous for as long as I can remember. This clothing-optional beach located on the western tip of Vancouver has a wide expanse of sandy beaches and rocky sea cliffs. For those comfortable with the clothing-optional policy, it’s a great opportunity to shed your inhibitions. With regulars who have been visiting for years and are welcoming to new visitors. There’s a relaxed and friendly vibe, with people of all ages, backgrounds, and body types.

Wreck Beach also hosts a range of events and festivals throughout the year, including beach cleanups, art shows, and live music performances. These events can be a great way to connect with like-minded people and enjoy the beach in a festive atmosphere.

24. English Bay

Close to Stanley Park, English Bay is another popular beachfront that brings the crowds on sunny days. As a part of Vancouver’s West End, English Bay plays host to the Celebration of Light.

The annual festival, held in July, sees eye-popping fireworks light up the sky and live music. But on any regular day you’ll find residents relaxing under the gigantic trees, rollerblading or taking in the many public art exhibits. Like Kitsilano Beach, it’s not common to swim at English Bay. But that doesn’t stop those braving the frigid waters for the Polar Bear Swim, held on New Year’s Day.

English Bay Beach

Dave and I used to live in the West End of Vancouver and English Bay Beach was our beach. We knew it as First Beach. Because of its close proximity to the city center, English Bay Beach is one of Vancouver’s busiest beaches. From here you can see views of English Bay and the North Shore mountains. We loved this neighborhood of Vancouver with plenty of restaurants, coffee shops, and shopping nearby.

The water is calm offering plenty of water sports such as SUP, kayaking, and swimming. On the shore, you can enjoy beach volleyball or this is a great spot to enjoy a picnic with that food you picked up at Granville Market.

One of the highlights of English Bay Beach is the annual Celebration of Light fireworks display (we used to watch it from our rooftop!) which takes place over three nights every summer and attracts hundreds of thousands of visitors. The beach is also the starting point of the annual Vancouver Polar Bear Swim, a New Year’s Day tradition in which brave swimmers take a dip in the chilly waters of English Bay.

Spanish Banks Beach

Vancouver has a lot of waterfront property and plenty of city beaches. Another popular beach in Vancouver is Spanish Banks Beach. Also located in the West End, Spanish Banks is where the seawall ends but can also be accessed by public transportation.

There are several amenities at Spanish Banks Beach, including washrooms, picnic tables, BBQs, and concession stands. The beach is also dog-friendly, with designated off-leash areas for dogs to run and play. It’s a popular spot for swimming, sunbathing, picnicking, and beach volleyball. At low tide, the beach extends out to the waterline, creating a large area for walking, kite-flying, and exploring the intertidal zone.

25. Take A Sunset Cruise

One of the best things to do in Vancouver is to take a sunset cruise to enjoy the city’s scenic waterfront. This sunset dinner cruise takes you out from Vancouver Harbour to the Pacific Ocean to see the Vancouver Skyline and beautiful coast. As you take in the views of West Vancouver and the North Shore Mountains you’ll enjoy a West Coast-style buffet dinner with music. Take in the top Vancouver attractions from your unique vantage point on the water.

26. Christ Church Cathedral

Dave and I are not very religious, but when we travel we always tend to visit cathedrals and temples. When visiting Vancouver, we stayed true to that tradition. Christ Church Cathedral is an Anglican church dating back to 1889. Located in downtown Vancouver, it features a mix of Gothic Revival and Romanesque architectural styles.

The historic landmark of Vancouver is known for its striking bell tower, which rises 65 meters (213 feet) above street level and is one of the tallest structures in downtown Vancouver. The interior of the Christ Church Cathedral features beautiful stained glass windows, intricate woodwork, and a stunning pipe organ.

27. Explore Richmond

South of downtown Vancouver, Richmond is home to Vancouver’s other Chinatown. Walking around the trendy neighborhood will bring you to several authentic Chinese restaurants ready to entertain your taste buds.

But Richmond isn’t just about food. You’ll find a beautiful Buddhist temple and discover the small village of Steveston. The beautiful area of Richmond is home to a National History Site, the Gulf of Georgia Cannery. The old boat sheds were once a part of the west coast’s historic fishing industry. But are now filled with waterfront restaurants and boutiques.

28. Richmond Night Market

If you’re wondering what to do in Vancouver at night, then make your way to the Richmond Night Market just 20 minutes from the downtown core. The vibrant market is full of interesting stalls selling souvenirs and art. Naturally, it’s another great place to try some Chinese street eats at the many food stalls.

The Richmond Night Market features more than 200 vendors selling everything from clothing, to accessories and souvenirs. You can also sample a wide range of cuisines, including Chinese, Japanese, Korean, and Thai, as well as more traditional festival foods like mini donuts and corn on the cob.

The family-friendly market is a great destination for adults and kids with a range of activities to keep everyone entertained from carnival attractions and games to live music, cultural displays, and plenty of food options.

The Richmond Night Market is only open in the evenings, which gives it a unique and exciting atmosphere. The market is brightly lit with colorful lights, and the sounds and smells of the vendors and entertainment create a vibrant and energetic atmosphere.

29. Sea-Plane Tour

By now you may have some appreciation for the spectacular landscape that flanks Vancouver. But from ground level, it’s hard to understand the sheer scale of the local mountain ranges. Book this highly rated sea plane tour for a scenic view of the city. This small group flight also includes a carbon offset.

One way to experience the dramatic surroundings is from the sky. Head to the heavens and look down on British Columbia. See rugged glacial mountains, far-off oceans, and Vancouver’s top sites. These can include Vancouver’s North Shore, Grouse Mountain, and False Creek cutting through downtown. The unforgettable experience will see you land on the harborfront, ready to tackle more top attractions.

Want another way to explore Canada’s amazing scenery? Check out our guide on the iconic Rocky Mountaineer.

30. Museum Of Vancouver

If you can’t get enough of local history, then be sure to pay a visit to the Museum of Vancouver. Dedicated to all things “Couve”, explore the city’s history from the very start.

Begin with the Coast Salish communities that first settled on the north Pacific Coast. Later, move on to the development of Japantown, the fascinating Kitsilano hippie days before learning about Vancouver’s 20th-century evolution.

Vancouver Day Trips

Vancouver is located in an excellent location with close proximity to some of British Columbia’s top destinations. From the Fraser Valley to the Coastal Mountains, there are plenty of easy day trips and weekend getaways to be had. These are a few of our top picks.

31. Sea To Sky Highway

If you want to get out of the bustle of Vancouver, why not complete one of the best scenic drives in Canada? The Sea to Sky Highway is a 90-minute journey beginning in the Vancouver city center and ending at the famous town of Whistler.

You can drive the sea to sky highway in one quick shot, but we recommend taking your time road trip is packed with highlights, with stunning vistas throughout. An overnight in Squamish is highly recommended to enjoy the Pass waterfalls, sprawling lakes, and snow-capped peaks. Have your camera on a full charge, because you never know what’s around the corner. Want to know more about the epic drive? Read our guide to the Sea-to-Sky.

32. Go Skiing Or Snowboarding

Grouse Mountain may be the most famous of the North Shore Mountains, but there are two other mountains that are worth visiting. Cypress in West Vancouver and Mount Seymour in North Vancouver are two year-round destinations for hiking and biking in the summer and skiing and snowboarding in the winter.

Because of its unique geographical position, Vancouver sees a lot of rain. The upside is incredible powder and world-class skiing. If you have an extra day on your itinerary and the lifts are running, then do yourself a favor and go shred. Aside from epic ski resorts of Grouse Mountain, Cypress Mountain and Mt. Seymour (all within a 30-minute drive from Downtown Vancouver, Whistler Blackcomb is just 120 km (75 miles) from the city.

If you only have a short time, you can even go to Whistler on a day trip. It certainly isn’t enough to see it all in one day, but sometimes you can only take what you can get. When we lived in Vancouver, we’d pop over for an epic day of skiing, just like we sometimes do for Blue Mountain here in Ontario. Check out more about Whistler at 30 Awesome Things to Do in Whistler, BC

33. Squamish

Squamish is located just 50 minutes from downtown Vancouver along the Sea to Sky Highway and makes for a great day trip. We love Squamish so much that we suggest making at least an overnight trip to the city. There are plenty of things to see and do in Squamish which is why we say to make it an overnight stop on your Sea to Sky Highway road trip. Read more: 14 Amazing Things to Do in Squamish BC

34. Brittania Mine

A popular stop along the side of the road is the Brittania Mine. We didn’t think we’d care too much about a mine, but this mining museum is awesome. It starts with a train ride into the mine to learn about how the mine was built, you can pan for gold and see all the old buildings with interactive displays. The BOOM Multimedia show that is included with your ticket is an extravaganza that is not to be missed.

35. Sea To Sky Gondola

One of the most popular attractions in Squamish is the Sea to Sky Gondola which takes you to the top of the mountains for spectacular views of Howe Sound. If you loved the Capilano Suspension Bridge, you will love The Sky Pilot Suspension Bridge. The Sky Pilot Suspension Bridge is accessible via the Sea to Sky Gondola, which takes visitors on a scenic ride to the summit of the mountain. From there, visitors can take a short hike to the bridge.

The last time we were there, the Sea to Sky Gondola was closed but it is now open for business year-round. During the winter months, there is snow tubing, snowshoeing, and nordic skiing. And in the summer, there is plenty of hiking. Plus the Sky Pilot Suspension Bridge is open year-round as well. Read more: 14 Amazing Things to Do in Squamish BC

Book your Tickets up the Sea to Sky Gondola in advance with free cancellation within 24 hours of entry should something come up. The trip takes about 10 minutes one way. If you’re feeling peckish you can visit the Summit Lodge for local British Columbia fare. You should book your tickets for the Sea to Sky Gondola online.

36. Vancouver Island

Despite its name, Vancouver Island is two hours away from the city center by ferry. Nevertheless, the trip is still one of the best things to do in Vancouver. We have it as a day trip, but we recommend at least making it an overnight getaway. In a country of amazing beauty, there’s something breathtaking about Vancouver Island.

The two-hour journey features a ferry ride from the city and ends at the largest island on the Pacific Coast of North America. Such is the bevy of things to do, ideally, you’ll have some time to explore. But if you only have a day, then there are several tours around the island. Must-see spots include Victoria, the Pacific Rim National Park in Tofino (also great for surfing), and the impeccable Butchart Gardens. 

Book a Vancouver to Victoria tour that includes a ferry ride across the Strait of Georgia and through the Gulf Island to Vancouver Island to explore the beautiful Butchart Gardens followed by a sightseeing tour of downtown Victoria.

What To Know About Vancouver

Now that your itinerary is full of the best things to do in Vancouver, let’s explore all you need to know to enjoy the city!

Getting to Downtown Vancouver

We always rent a car and find it is the best way to get around Vancouver. You can shop for car rentals from the Vancouver Airport at RentalCars.com

The main arrival point for Vancouver is the Vancouver International Airport. The airport is roughly nine miles from downtown and the easiest way to get there is via the Airport SkyTrain. The trip takes 25 minutes to complete and begins just after 5 am and ends at 1 am. A ticket costs 9 CAD (approx $7 USD) one way unless you have a pre-purchased pass, which reduces the price to $5 ( about $3.50 USD).

Taxis are another popular option with rides taking around 30 minutes, depending on the location of your hotel. Expect to pay between $25 – $30 CAD ($20 – $25 USD).

Best Time to Visit Vancouver, British Columbia

Unless you’ve come to Vancouver in winter to tear up the slopes, summer, and early autumn are the best times to visit Vancouver. Vancouver is notorious for rain, and summer is the best time to avoid getting wet.

Spring is very rainy but you can really expect to have rain any time of the year. Festivals are happening and spots like Stanley Park pack out with locals. Autumn is an excellent time to visit Vancouver for fall colors, the temperature is still quite pleasant and there are many fall adventures to be had.

The spring sees the countryside come to life as wildflowers paint the landscape. This time of year is also less crowded and you’ll find it easier to explore the best attractions in Vancouver.

Where to Stay in Vancouver

It may be tempting to stay in Richmond or in North Vancouver, but to experience the best of Vancouver, it’s recommended that you stay downtown. From your doorstep, you’ll be within walking distance of many highlights from English Bay to Gastown.

Here are some top choices to suit all budgets:

Luxury:

Sutton Place Hotel Vancouver is one of Vancouver’s premier hotels in the heart of downtown. It is elegant and has that old-world charm of the grand hotels across the country like Toronto’s Royal York. 

The Opus Vancouver is an excellent boutique hotel located in Yaletown that is within walking distance of everything. Plus there are great options for dining and nightlife close by and its just a short walk to the waterfront. 

Mid-Range:

The Sandman Suites Vancouver on Davie offers some of the best views of English bay. Located in the heart of it all, each hotel room also has its own kitchen. Perfect for a longer stay in Vancouver. 

Budget:

With a highly rated location, you won’t have to spend much at the Samesun Vancouver to enjoy a quick stroll to Robson Street, Stanley Park, and the best of downtown. 

And these are the best things to do in Vancouver with a few ideas for tours and accommodation. We lived in Vancouver for three years and have gone back again and again. This is a city that keeps evolving and changing and no matter how many times we visit, we always find something new.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source: The Planet

Photo Credit: The Planet

Are Condos a Good Investment?

 

The pandemic impacted Canada in many ways, including the real estate market. The industry was quickly able to adapt to virus conditions by relying on technology solutions like virtual open houses and e-signatures to facilitate transactions. Although many in-person practices have been taken up again, virtual practices for buying and selling homes have remained popular, especially for those who may not live in the area and are unavailable in person.

When market conditions change, some choose to size up their investments to determine if there are other opportunities to explore. With the remote work trend allowing for alternate living arrangements, many are wondering if now is the right time to dip their toes into the condo market, and whether it is a wise investment.

While vulnerabilities in the condo market became evident at the onset of the pandemic, the big-city condo segment was most impacted, and those impacts were short term.

And for the opportunist looking to buy, there is an upside to a down market, for someone who’s willing to take on some calculated risk.

Below, we dive into current Canadian condo market trends, to help hopeful investors make an informed decision:

Condo Sales Canada-Wide

Across the country, condo submarkets have experienced varying levels of cooling.

In Canada’s largest condo market, Toronto raised interest rates to curb pandemic inflation, have created a considerable deterioration in sales of new condominiums. According to RE/MAX Ultimate Realty Inc., Brokerage, sales dropped by 79 per cent in Q3-2022 to just 1,748 units, their lowest levels since the financial crisis of 2009. A record high of two-thirds of all GTA condo projects with available inventory reported zero sales in the same quarter.

Condo listings are spiking in markets like Toronto, Vancouver, and Montreal, an inverse trend from what we’ve seen over the past few years. The average price for new condos is sitting at $1,427 in Q3-2022, down one per cent from the record high in the previous quarter. However, new condominium prices remain 15 per cent higher than in 2021.

Due to high interest rates, buyers who purchased a new condo in Q3-2022 are facing a mortgage of approximately $3,300 per month, a 58-per-cent increase from 2021 when interest rates sat at just two per cent.

These popular markets have long attracted people to city-living – even causing people to compromise on space in order to live near attractive amenities. As a result, construction of new condominiums pushed onward and was up 40 per cent year-over-year. A record volume of units ready for occupancy is expected in the first half of 2023.

Canadian Condo Prices

In tighter downtown condo submarkets like Toronto, a dramatic increase in condo supply is evident. Unsold condo units are sitting vacant across the city, and since the peak in home prices and interest has come and gone, Toronto condo market prices and rents are expected to decline in the months ahead. Although the pandemic seems to have reached its end, sales price growth in the condo segment continues to trail behind the housing segment.

While the average price of a detached home in the GTA decreased by 13.4 per cent, the average price of a condo only decreased by 0.9 per cent. It is expected that as Toronto’s housing market softens and more inventory becomes available, the trend will continue downward through the first half of 2023.

Why Condos are Still a Good Investment Today

Although the condo market is weaker during this time, this doesn’t mean it won’t rebound. Market observers are projecting that it is unlikely that people will stay away from condos for the long term; the shifting preference from urban to suburban has been modest at best. As immigration restrictions continue to loosen, people return to offices, and amenities reopen indefinitely – buyers will flock to the city once again to enjoy the metropolitan lifestyle and conveniences that urban condo-living has to offer.

The condo market could quickly rebound in the next few years, based on the strong sales activity and prices just prior to 2020. Investors can take advantage of lower condo prices now to buy and hold a unit to sell once the market strengthens. Decreased condo demand in expensive submarkets, means buyers can scoop up condos for lower prices yet reap the benefits when demand returns.

Across the country, there has been decreasing demand for urban condos and increased demand for suburban and rural condos, although both markets seem to be experiencing reduced activity. As more condos become available, growth will likely return. Homebuyers can scoop up a condo at a reasonable price and potentially realize their profits from their investment as the market strengthens.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

Source: RE/MAX