Stability Returns, but Economic Headwinds Keep Recovery in Check

After months of uneven activity, Metro Vancouver’s real estate market showed signs of stabilization in July. Sales volumes edged higher from spring lows, prices remained broadly steady, and inventory hovered near multi-year highs — giving buyers more selection and leverage than they’ve had in some time.

While balanced conditions are welcome, the broader picture remains cautious. Persistent affordability challenges, weak economic growth, and lingering uncertainty around trade and employment continue to weigh on confidence. The market’s pace is steady, not surging.

1. Market Conditions – Stable, Not Surging

Inventory levels have stabilized near 17,000 listings — high enough to keep prices relatively flat and conditions balanced across most sub-markets. Detached homes sit in buyer’s territory (10.2%), while condos and townhomes hover mid-balance.

📍 Key Takeaway:
The market is measured, not distressed. Buyers have time to act strategically, while sellers must align expectations with current realities.

2. Property Type Breakdown – Balance Across the Board

Detached activity remains subdued, with longer days on market and wider price gaps between buyer and seller expectations. Townhomes continue to show resilience, supported by demand from end-users seeking space and value. Condos remain price-sensitive but steady.

3. Regional Highlights – A Closer Look

Burnaby

• Burnaby East: Detached benchmark $1,954,000 (+4.5% M/M, +0.5% Y/Y) — a rare uptick driven by limited listings.

• Burnaby North: Townhomes rose slightly (+0.7%), while condos fell (-5%) year-over-year.

• Burnaby South: Detached and condo prices slipped (~4%) annually; townhomes remain stable.

New Westminster

• Composite benchmark $801,500 (+0.8% M/M, -2.4% Y/Y).

• Apartment listings surged +41%, creating strong selection for buyers.

• Townhomes saw more stable conditions, while detached sales dipped.

Tri-Cities

• Coquitlam: Townhomes continue to outperform (+0.2% Y/Y) with benchmark $1,093,900.

• Port Coquitlam: Detached and townhomes both stable; “Rindle” by Woodbridge Homes highlighted in pre-sale segment.

• Port Moody: Detached homes soft, but townhomes (42% ratio) and condos show healthy demand.

Vancouver East & West

The west side’s luxury detached market continues to favour buyers, while East Vancouver remains more active at attainable price points.

Other Notable Areas

• North Vancouver: Detached -4.2%; condos holding near even.

• Richmond: Listings up 30%+ across all segments; prices down 4–5%.

• Squamish: Outlier strength — detached homes +11.2% Y/Y, benchmark $1.69M, seller’s market (31%).

• Tsawwassen: Apartments saw one of the largest declines (-7.3% Y/Y).

4. Economic & Policy Backdrop – Calm Rates, Weak Growth

• Bank of Canada Rate Hold: 2.75% (third consecutive).

• GDP: Estimated -1.5% in Q2, following tariff-related export drops.

• Unemployment: 7% — highest in nearly a decade (excl. pandemic).

• Trade Uncertainty: U.S. negotiations and tariffs dampen business confidence.

• DCC Policy Shift: Developers can now defer 75% of Development Cost Charges until occupancy — easing upfront costs and supporting future housing supply.

📉 Insight:
While rate stability offers predictability, soft GDP and job losses continue to suppress momentum. Buyers remain cost-conscious, and sellers are adapting to longer marketing timelines.

5. Pre-Sale Market – Subdued but Adapting

Pre-sale absorption remains far below historical norms, with only 7 new projects (≈600 units) launched in July.

• Absorption Rate: 4% (vs. 27% seasonal average)

• H1 2025 Units Sold: ~400 (85% below typical levels)

• Product Shift: Developers focus on low-density, end-user-friendly projects.

• Common Incentives: 10% deposits, value-add upgrades, and flexible completion schedules.

Example: Rindle by Woodbridge Homes in Port Coquitlam — boutique townhomes catering to families seeking new product without downtown premiums.

6. Fraser Valley Comparison

Conditions mirror Metro Vancouver: elevated inventory, flat pricing, and cautious buyers.

7. Takeaways – A Market Defined by Patience

For Buyers:

• Wide selection, stable prices, and time to negotiate.

• Focus on quality listings and avoid “fear of missing out.”

For Sellers:

• Price accurately and present professionally — buyers have options.

• Staged, well-marketed homes are still selling efficiently.

For Investors:

• Prioritize fundamentals: location, rentability, and long-term positioning.

• Short-term appreciation plays remain limited.

Bottom Line

July 2025 marks a steadying point for Metro Vancouver’s real estate market.
Sales are soft but stable, prices are adjusting gently, and balanced conditions dominate most regions. While a meaningful recovery isn’t yet underway, today’s environment rewards strategic, data-informed decisions over speculation or hesitation.

Thinking about your next move?
Let’s discuss your local market, your property’s position, and your best strategy moving forward. Whether you’re buying, selling, or investing, insight — not urgency — is the advantage in today’s market.

📞 Contact us today for a personalized market review.

Looking for your dream home? This Just Listed Condo in New Westminster offers a perfect blend of modern design and unbeatable location. With top-rated schools, vibrant parks, and easy access to transit and shopping, this unit sets new standards in stylish urban living.

Property Snapshot

Step inside this bright and airy apartment/condo (MLS® R3026972), located in the heart of New Westminster. Every detail reflects contemporary design, from open-concept living spaces bathed in natural light to carefully selected finishes. Imagine sipping your morning coffee on the balcony while enjoying sunset views over the city skyline.

• Property Type: Apartment/Condo

• MLS®: R3026972

• Elementary Catchment: FW Howay Elementary

• Secondary Catchment: Glenbrook Middle School

• Sales-to-Active Ratio: 11.7% – a balanced, stable market

This home is ideal for families, professionals, or investors looking for lifestyle and value in one of Metro Vancouver’s most dynamic cities.

Why New Westminster? Neighborhood Highlights

Parks & Recreation

Enjoy easy access to some of New West’s most beloved outdoor spaces:

• Queen’s Park – 75 acres of greenery, trails, sports courts, and playgrounds

• Tipperary Park – Home to seasonal farmers’ markets, heritage gardens, and picnic spaces

• Albert Crescent & Moody Parks – Ideal for casual strolls, dog walking, and relaxation

Schools & Education

Live in a catchment area known for community and quality education:

• FW Howay Elementary – A welcoming neighborhood school just minutes away

• Glenbrook Middle School – Recognized for strong academic programs and extracurriculars

• Close proximity to New Westminster Secondary School (NWSS), which offers French immersion and IB programs

Shopping, Dining & Convenience

This listing is near top shopping hubs:

• Shops at New West – Groceries, restaurants, and a movie theatre right by the SkyTrain

• Royal City Centre – A central shopping destination with cafes, salons, and services

• River Market at the Quay – Riverside dining and artisan vendors in a historic space

Transit & Connectivity

New Westminster is a commuter's dream:

• 5 SkyTrain Stations within the city

• Fast, direct access to downtown Vancouver in under 30 minutes

• Walkable streets and bike-friendly paths throughout the community

Market Insights: Why It’s a Smart Move

The sales-to-active ratio of 11.7% means buyers can move confidently, while sellers still enjoy strong returns. The market is steady and showing healthy demand.

Long-tail tip: How much does a condo in Burnaby cost? You’ll often find that condos in New Westminster offer comparable features at a more accessible price—making this area a smart choice for value-focused buyers.

Open House – July 20, 2025 | 2:00 PM – 4:00 PM

Come see it in person! This stunning New Westminster condo will be open for viewing on:

📅 Sunday, July 20, 2025
🕑 2:00 PM to 4:00 PM

Don’t miss the chance to walk through the space, explore the neighborhood, and ask questions live on site. Bring your family, your questions—and your checklist!

After a rocky first half of 2025, the Metro Vancouver real estate market is showing early signs of stabilization — with sales activity leveling off, listing inventory reaching decade highs, and prices holding steady in many areas despite elevated supply. For buyers, sellers, and upsizers alike, this is a market that demands thoughtful strategy and local expertise.

Market Snapshot – June 2025

• Sales: 2,181 homes sold in Metro Vancouver in June — down 9.8% year-over-year and 25.8% below the 10-year average.

• New Listings: 6,315 new listings hit the market — up 10.3% year-over-year and 12.7% above the seasonal average.

• Active Listings: Inventory rose to 17,561 properties, marking a 23.8% increase over last year and the highest June level in more than a decade.

• Sales-to-Active Listings Ratio:

  • Detached: 9.9% (buyers’ market)

  • Townhouses: 16.9% (balanced)

  • Apartments: 13.9% (balanced)

• Benchmark Price (Composite): $1,173,100 — down 2.8% year-over-year, and 0.3% from May.

Segment Breakdown

Detached Homes: Sluggish Conditions Persist

Detached home sales remain muted. With just 657 sales in June and over 10 months of inventory, detached homes are firmly in a buyer’s market. The benchmark price sits at $1,994,500, down 3.2% year-over-year. High inventory is giving buyers ample negotiating room, especially in upper price bands.

Condos: Oversupplied and Competitive

Condo listings surged to a record high in June. While 1,040 units sold, that’s a 16.5% year-over-year drop, with absorption rates softening in price points over $900K. Benchmark condo prices sit at $748,400, down 3.2% annually and 1.2% month-over-month.

Townhomes: Holding Ground

Townhouses are the only segment to see a year-over-year increase in sales (+3.7%), with benchmark prices at $1,103,900 (down 3% YoY). Despite rising inventory, absorption is stronger here than in detached or condo segments — particularly in family-oriented neighborhoods with quality schools and transit.

Neighbourhood Bright Spots: Where the Market Is Moving

Despite slower overall conditions, several Metro Vancouver submarkets are showing encouraging signs — whether through stable pricing, increased sales activity, or outperforming inventory absorption.

Here are some of the most notable bright spots from the June 2025 data:

🔵 Burnaby North – Condos

• Benchmark condo price: $724,900

• Month-over-month change: +1.8%

• This submarket posted the highest monthly price increase for condos among core Burnaby areas — a sign of buyer demand returning to well-located, transit-accessible homes under the $800K range.

🟢 Coquitlam – Townhomes

• Benchmark townhouse price: $1,096,600

• Year-over-year change: +1.1%

• Coquitlam remains one of the few regions where townhome values are higher today than they were a year ago, supported by demand from young families seeking space and school catchments.

🟠 Squamish – Detached Homes

• Benchmark price: $1,674,400

• Year-over-year gain: +8.2%

• Squamish continues to buck the regional trend, with rising demand from both lifestyle-driven buyers and long-term investors. It’s the strongest-performing detached submarket in Metro Vancouver year-over-year.

🔵 New Westminster – Entry-Level Condos

• Units in the $450K–$650K range saw some of the highest absorption rates, with sales-to-active ratios between 20–30% — a clear indicator that affordable homes in connected urban hubs remain in demand.

🟡 Pitt Meadows – Townhouses

• Benchmark townhouse price: $839,200

• Year-over-year change: +0.6%

• Though small in volume, this is one of the few areas with price growth in the townhouse segment, driven by limited supply and family-oriented demand.

Local Strategy Matters More Than Ever

The regional averages only tell part of the story. Real estate is always hyper-local, and the data shows that not all areas are moving the same. That’s why your strategy — whether pricing, marketing, or timing — must reflect not just your city, but your segment, your product type, and your street.

Smart Moves: Why Now Is a Strategic Time to Upsize

One of the clearest patterns we’re seeing across the market is that entry-level homes — relative to each submarket — continue to attract steady buyer demand.

What qualifies as “entry-level” varies by city:

• In New Westminster, that could mean a condo in the $500K–$650K range.

• In Burnaby, active townhouse segments are closer to $850K–$1.15M.

• In Maple Ridge or Pitt Meadows, entry-level detached homes can be found around $1.25M–$1.4M.

But across the board, it’s consistent: entry-level price bands are where the action is, while listings above the median — particularly over $2M for detached and $1M for condos — are seeing far slower absorption.

This creates a rare opportunity:

If you’re selling in a stronger-performing entry-level segment and upsizing into a slower, higher-value one, you’re leveraging a unique trade-up advantage.

This is one of the best environments we’ve seen in years for upsizers — those moving from condo to townhouse, or townhouse to detached — especially if the purchase is long-term.

Pricing Strategy is Everything

In this kind of market, your pricing strategy can make or break the outcome.

We’ve seen time and again that properties priced correctly from the start attract the right buyers early — while those listed based on aspirational value sit and stagnate.

As agents, we don’t oversell or inflate expectations. We strive to educate our sellers and ensure every pricing recommendation is grounded in:

• Real-time data

• Current neighborhood trends

• Buyer behavior and inventory levels

Your pricing strategy isn’t just a number — it’s the foundation of your marketing, your negotiation position, and your ultimate success.

Final Thoughts: Balanced Doesn’t Mean Boring

The June market is best described as a grind — balanced in many areas, slow in others, but not without opportunity. While interest rates and inflation continue to impact sentiment, affordability is marginally improving, and seasoned buyers are beginning to step in.

Sellers with entry-level homes in good condition are still achieving excellent results. Buyers looking to upgrade have negotiating power that didn’t exist two years ago. And above all, smart strategy — informed by data and local experience — is what will separate successful outcomes from missed opportunities.

Have Questions or Considering a Move?

Whether you're exploring a possible sale, wondering if now is the time to upsize, or just want to understand where your property fits into the current market — we’re here to help.

📩 Reach out for a personalized market evaluation or strategic consult.
Let’s make the market work for you.

The Canadian federal government recently unveiled a new GST relief program designed to make buying a new home more accessible for first-time home buyers — and as of May 2025, the details have become much clearer.

If you’ve been following our updates, you may have already read our deep dive: Understanding Canada's New GST Rebate for First-Time Home Buyers. Now, we’re back with even more clarity — thanks to additional legal insights provided by our trusted lawyer.

Let’s break it all down.

📣 What’s New?

As of May 2025, the federal government announced full GST relief on the purchase of newly built homes (including pre-construction condos and townhomes) for qualifying first-time buyers. This incentive is part of a broader effort to boost housing affordability and stimulate supply by supporting middle-class Canadians entering the housing market.

🏷 Who Qualifies for the GST Rebate?

Here are the updated and clarified eligibility criteria:

• ✅ You must be a first-time home buyer.

• ✅ You must live in the home as your primary residence.

• ✅ The purchase price must be below $1.5 million.

• ✅ Applies to new builds only — resale homes are not eligible.

• ✅ This rebate is in addition to any provincial rebates or incentives already in place.

📌 Key Update: According to our legal sources, the rebate will not require income testing, but you’ll need to sign a declaration confirming you’re a first-time buyer.

🔍 What Types of Homes Are Covered?

• Single-family homes

• Condominiums

• Townhouses

• Duplexes or row houses

As long as they are newly built and not previously occupied, they qualify.

📜 Legal Clarifications You Should Know

Here are the top questions answered:

Q: Do I need to apply for the rebate separately?

A: No separate application is needed. The rebate should be automatically deducted from the purchase price during the conveyancing process — your lawyer or notary will handle the paperwork.

Q: What if I buy with a partner who isn’t a first-time buyer?

A: You may still qualify if you are a first-time buyer and the home will be your primary residence, but consult your conveyancer to ensure eligibility.

Q: Will this rebate show up in the contract?

A: Yes. Your contract will note whether the GST rebate is included in the purchase price or added on top. It’s important to clarify this with your developer or builder.

💡 How This Impacts You as a Buyer

This GST relief could save you up to $75,000 (5% of a $1.5M home) — a major cost reduction that could make the difference between affording your dream home or sitting on the sidelines.

If you’re planning to buy a pre-sale or new construction in BC or anywhere in Canada, this rebate is worth exploring further with your real estate team and legal advisor.

🗓 When Does This Take Effect?

The rebate is already in effect as of May 2025, and it applies to qualifying agreements signed on or after that date. If you’re in the market now, you may already be eligible!

📞 Have Questions? We’re Here to Help.

We stay ahead of the legal and market shifts so you don’t have to. Whether you’re a first-time buyer or helping a family member navigate the homeownership process, we’re ready to guide you.

👉 Contact us to find out how this rebate can apply to your next purchase — and let’s make your first home more affordable, together.

Join us for an exclusive Open House at 65 E King Edward Avenue, where modern elegance meets unmatched walkability just steps from vibrant Main Street. These newly built duplex homes are nestled in a prime location with a Walk Score of 98, offering an ideal lifestyle for growing families or professionals who value comfort, quality, and convenience.

🗓 Open House Details:

📍 Address: 1 & 2 65 E King Edward Avenue, Vancouver
📅 Date: June 28, 2025
🕒 Time: 2PM to 4PM

✨ Property Highlights – Unit 1 & Unit 2

These thoughtfully designed homes include:

• ✅ Air Conditioning

• ✅ Engineered Hardwood Flooring

• ✅ Electric Radiant Heating + Heat Pump

• ✅ In-Suite Laundry

• ✅ Built-in Entertainment System

• ✅ Smart Google Nest Thermostats

• ✅ Security System & Built-in Speakers on Main Floor

• ✅ Fisher & Paykel Appliance Package

• ✅ Durable Rainscreen Exterior & Concrete Driveway

• ✅ Attached Single-Car Garage

• ✅ 1/2/5/10 Year New Home Warranty

🏠 UNIT 1 – COMPACT COMFORT

📐 1161 Sq. Ft. | 💰 Offered at $1,498,000
A beautifully laid-out 2-storey home, perfect for families looking for modern living in a manageable space.

Features Include:

• South-Facing Covered Porch for all-season lounging

• Cozy yet open Living Area with a Tucked-Away Dining Space

• All 3 Bedrooms on the Upper Level for maximum privacy

• Light-filled interiors with a breezy, open-concept design

• Fully Fenced Yard – great for kids or pets

🏡 UNIT 2 – EXPANSIVE ELEGANCE

📐 1809 Sq. Ft. | 💰 Offered at $2,168,000
Perfect for those seeking more room to grow or entertain.

Features Include:

• Spectacular Mountain Views from the upper floors

• Rec Room with Wet Bar for movie nights or weekend entertaining

• Direct Garage-to-Rec Room Access for added security & ease

• Outdoor Built-In BBQ Kitchen ideal for summer grilling

• Spacious open-concept layout flooded with natural light

📍 Location, Location, Location!

Steps from Main Street, you’re surrounded by:

🛍 Boutique Shops
🍽 Trendy Restaurants & Cafés
🚌 Easy Transit Access
🌳 Queen Elizabeth Park just minutes away

Situated within the catchment of General Wolfe Elementary and Eric Hamber Secondary, making this a dream family home in a top-tier school district.

📞 Ready to See It for Yourself?

Don’t miss your chance to experience these brand-new homes in one of Vancouver’s most vibrant communities.

📲 Contact us to schedule a showing or drop by our Open House.
These gems won’t last long!

We’re excited to announce that this bright, ground-level 1-bedroom home at #121 – 18 Jack Mahony Place, New Westminster has officially SOLD!

With a sales-to-active ratio of 15.20%, the New Westminster real estate market is considered balanced—offering great opportunities for both buyers and sellers. Add to that this home’s unbeatable location near the New Westminster SkyTrain Station, and it’s clear why this listing was such a standout. The commute-friendly location and lifestyle-ready design made this an ideal find for its new owner.

🏡 Smart Design & Townhouse-Style Entry

This well-designed home offered a single-level floor plan with the added bonus of direct, private access—just like a townhouse! Perfect for first-time buyers, young professionals, pet lovers, or those looking to simplify without compromising on comfort.

🐾 Pet-Friendly & Community-Centered

One of the highlights? This property is in a pet-friendly building, offering peace of mind for owners with furry companions. It also belongs to a friendly, proactive strata community that values upkeep and neighborly connection.

🌳 Location Perks – Green Spaces & Essentials Nearby

The new owners will enjoy easy access to some of New West’s most beloved parks:

• Queen’s Park

• Tipperary Park

• Hume Park

Whether it’s a morning dog walk or a weekend picnic, nature is always just a few steps away.

🛍️ Urban Convenience

From grocery runs to brunch meetups, everything is within reach:

• Shops at New West

• Royal City Centre

• Holland Shopping Centre

And for commuters? The New Westminster SkyTrain Station makes downtown access a breeze.

🎓 Great for Families, Too

Families in the area benefit from strong educational options like:

• École Herbert Spencer Elementary

• New Westminster Secondary School

🏁 A Fresh Start for a Happy Buyer

We’re thrilled to see this home become the perfect match for its new owner. With thoughtful features, a stellar location, and lifestyle-enhancing surroundings, this was more than just a condo—it was an opportunity.

Congratulations to our clients on a successful sale!

💬 Thinking of making a move?

Whether you're just starting your homeownership journey or looking for a space that fits your lifestyle, homes like this one show that comfort, connection, and convenience really can come together.

If you're curious about what's possible, we’re here to talk—no pressure, just real conversations.

We’re excited to announce that a stunning penthouse-level suite in New Westminster has just been secured at 407–675 Park Crescent in the highly coveted Winchester complex, located in GlenBrooke North. With a strong sales-to-active ratio of 15.20%, this transaction is a testament to the continued demand for quality condo living in this vibrant and walkable neighborhood.

The Winchester: Style, Comfort & Community

This beautifully renovated 2-bedroom, 2-bathroom corner unit offers 979 square feet of light-filled living space in one of the area's most sought-after, pet-friendly communities—The Winchester.

Interior Highlights

• Modern Wide-Plank Laminate Flooring – Offers warmth and durability throughout the home

• Expansive Windows – Brings in ample natural light from multiple exposures

• Upgraded Kitchen – Featuring sleek white quartz countertops, stainless steel appliances (including a Fisher & Paykel fridge), apron sink, and two-tone shaker cabinetry

• Spacious Primary Bedroom – Includes a huge walk-in closet and a private ensuite bathroom

• Versatile Second Bedroom – Perfect as a guest room or home office

• Private Patio – A tranquil outdoor escape ideal for relaxing with morning coffee

This quiet, well-managed building includes 2 secured parking stalls and 1 storage locker, and is just steps to parks, shopping, schools, and transit.

GlenBrooke North: A Top-Tier New Westminster Location

This suite’s location in GlenBrooke North places it in a prime walkable area with every convenience close at hand.

Local Amenities

• Queen’s Park – A 75-acre green oasis featuring sports facilities, gardens, a playground, and a petting zoo

• Canada Games Pool (Redevelopment in Progress) – Soon to be one of the region’s premier recreation centres

• Royal Square Mall & Safeway – Easy access to groceries, health care, and day-to-day essentials

• Shops at New West & River Market – Perfect for dining, entertainment, and weekend shopping, all SkyTrain-accessible

School Catchment: Top-Rated Public Schools

Families purchasing in GlenBrooke North enjoy access to some of the region’s best public schools:

• Herbert Spencer Elementary – Known for academic excellence and French Immersion options

• New Westminster Secondary – One of BC’s largest and most diverse high schools

Real Estate Snapshot: Condos in New Westminster

With a sales-to-active ratio of 15.20%, New Westminster continues to offer a healthy and competitive real estate environment. Stylish, upgraded condos like this one in The Winchester are rare finds, especially those with thoughtful renovations and top-tier walkability.

Looking to Buy in New Westminster? Let’s Help You Secure the Right Property

Dreaming of owning a home like this penthouse suite at The Winchester? Whether you're a first-time buyer, relocating, or upgrading your lifestyle, we’ll guide you through the process—from finding the perfect match to negotiating with confidence.

Let’s connect and secure the right property for your goals.

Step into the heart of downtown Vancouver with this extraordinary 2-bedroom, 2-bathroom heritage conversion condo at The Hamilton. Located on Hamilton Street in Yaletown, this residence is more than just a place to live—it’s a statement for professionals, creatives, and entrepreneurs who thrive at the intersection of style, history, and convenience.

🏡 Property Highlights

• MLS® Number: R3013396

• Property Type: Apartment/Condo

• School Catchments:

  • Elementary: Elsie Roy Elementary

  • Secondary: King George Secondary School

• Open House:

  • Sunday, June 15th: 3:00 PM – 5:00 PM

Designed for the Downtown Professional or Creative Spirit

This space isn’t for everyone—and that’s precisely the point. It’s for the tastemakers, the architects, the designers, the boutique business owners who appreciate thoughtful details and crave a home as original as they are. The exposed brick walls and over-height ceilings don’t just echo the building’s storied past—they serve as an inspiring canvas for your lifestyle. Whether you’re closing deals by day or hosting a client wine tasting by night, this condo rises to the occasion.

Heritage Aesthetic Meets Modern Function

Enjoy the rare combination of vintage charm and contemporary upgrades. Original fir floors warm the space, while modern touches like quartz countertops, stainless steel appliances, and a sleek linear kitchen layout cater to your elevated urban tastes. The layout is open and efficient—ideal for entertaining, working from home, or simply enjoying a peaceful evening after exploring the city.

A Neighbourhood That Speaks Your Language

Live in the thick of it all—where historic Gastown, vibrant Chinatown, and the business district collide. Here, you’re steps away from Vancouver’s most innovative restaurants, indie coffee shops, creative studios, boutique gyms, and downtown’s best shopping. Need to catch the SkyTrain? Transit is practically at your doorstep, making commuting or jetting off to meetings effortless.

Tailored for the Lifestyle-Focused Buyer

This isn’t a home for those focused on school catchments or quiet suburbia. It’s for the couple who dines out on Tuesdays just because they can. It’s for the solo professional who hosts downtown art walks or plans their week around design expos. It’s for the dreamers who don’t just want a home—they want a vibe.

🌆 Embrace the Neighborhood Charm

Nestled in a community rich with amenities, this condo offers more than just a place to live—it provides a lifestyle.

Parks & Recreation

• David Lam Park: A waterfront park featuring sports fields, a playground, and scenic views, perfect for family outings.

• George Wainborn Park: Known for its serene atmosphere and beautiful landscaping, this park offers a peaceful retreat.

• False Creek Seawall: Offers a variety of amenities including walking and biking paths with stunning waterfront views.

Shopping & Dining

• Yaletown: A vibrant neighborhood known for its upscale boutiques, trendy restaurants, and lively nightlife.

• Urban Fare: A gourmet grocery store offering a wide selection of organic and specialty foods.

• Pacific Centre: A premier shopping destination featuring a variety of retail stores and dining options.

🏫 Top-Rated Educational Institutions

• Elsie Roy Elementary: Located in the heart of Yaletown, this school emphasizes respect, responsibility, and relationships.

• King George Secondary School: Offering a wide range of academic and extracurricular programs.

🚆 Seamless Connectivity

With a sales-to-active ratio of 13.80%, the Vancouver real estate market is balanced, offering opportunities for both buyers and sellers. The property's proximity to the Yaletown-Roundhouse SkyTrain Station ensures easy access to downtown Vancouver and surrounding areas, making daily commutes effortless.

📞 Ready to see it for yourself?

This is downtown living redefined—and it won’t stay listed for long. Book your private showing today and discover why this isn't just a condo, it's your next chapter.

Welcome to modern living in the heart of New Westminster! This beautifully maintained 1-bedroom ground-level condo offers the perfect blend of lifestyle, comfort, and location — all at an affordable price point that opens the door for first-time buyers, young professionals, pet owners, and downsizers looking for easy access and everyday convenience.

🏡 Property Highlights

• MLS® Number: R3013276

• Property Type: Apartment/Condo

• School Catchments:

  • Elementary: École Herbert Spencer Elementary

  • Secondary: New Westminster Secondary School

• Open House:

  • Saturday, June 14th: 2:00 PM – 4:00 PM

  • Sunday, June 15th: 12:00 PM – 2:00 PM

🏡 A Thoughtful Layout for Comfortable Living

With no stairs and a single-level floor plan, this home is designed with accessibility and ease of movement in mind — a significant plus for seniors or anyone looking to avoid the hassle of stairs. The direct, townhouse-style access to parking means you can come and go with ease, whether you’re unloading groceries, walking your dog, or heading out for the day. No elevators. No delays.

🐾 Pet-Friendly & Park-Adjacent

If you’re a pet lover, you’ll appreciate the convenient ground-level entry that makes daily walks a breeze. Being close to parks and green spaces means your furry friend will enjoy the new home just as much as you will.

💡 Ideal for First-Time Buyers & Young Couples

Priced competitively, this condo represents an excellent entry point into the housing market. Whether you’re a young couple starting out or a single buyer looking for a smart investment, this unit offers great value in a vibrant, walkable community with plenty of shops, cafes, and transit options nearby.

🧘 Perfect for a Low-Maintenance Lifestyle

This is not a sprawling family home — and that’s exactly the point. It’s a smart, stylish space that meets your needs without unnecessary upkeep. Ideal for those who prioritize location, simplicity, and comfort.

🌳 Embrace the Neighborhood Charm

Nestled in a community rich with amenities, this condo offers more than just a place to live—it provides a lifestyle.

Parks & Recreation

• Queen’s Park: A 75-acre flagship park featuring sports fields, a spray park, and a petting farm, perfect for family outings.

• Tipperary Park: Known for its serene Friendship Gardens, this park offers a peaceful retreat with beautiful water features.

• Hume Park: Offers a variety of amenities including an outdoor pool, playgrounds, and access to the Brunette-Fraser trail.

Shopping & Dining

• Shops at New West: Integrated with the New Westminster SkyTrain Station, this shopping center offers a mix of retail stores, restaurants, and entertainment options.

• Royal City Centre: Home to over 50 stores, including major retailers and local boutiques, catering to all your shopping needs.

• Holland Shopping Centre: A unique destination offering Dutch specialties and a variety of European goods.

🏫 Top-Rated Educational Institutions

• École Herbert Spencer Elementary: Located in the historic Queen’s Park neighborhood, this dual-track English and French Immersion school emphasizes respect, responsibility, and relationships.

• New Westminster Secondary School: One of the largest secondary schools in the province, offering a wide range of academic and extracurricular

🚆 Seamless Connectivity

With a sales-to-active ratio of 15.20%, the New Westminster real estate market is balanced, offering opportunities for both buyers and sellers. The property's proximity to the New Westminster SkyTrain Station ensures easy access to downtown Vancouver and surrounding areas, making daily commutes effortless.

📞 Ready to Make a Move?

Don't miss the opportunity to own this exceptional condo in New Westminster. Join us at the open house or contact us to schedule a private viewing.

Thinking of selling? See how we can help you achieve top results.

On June 4, 2025, the Bank of Canada (BoC) announced it would maintain its key policy interest rate at 2.75%, citing persistent economic uncertainty—particularly around international trade dynamics and evolving domestic indicators. The next interest rate decision is scheduled for July 30, 2025.

 This marks the second consecutive rate hold by the BoC, following a series of cuts that concluded in March. As the economy shows signs of both resilience and vulnerability, the central bank has signaled a wait-and-see approach, with a continued focus on inflation trends, employment data, and global economic developments.

Policy Overview: June 2025 Rate Decision

The BoC confirmed the following in its June 4 announcement:

• Key overnight lending rate: Held at 2.75%

• Bank Rate: Held at 3.00%

• Deposit rate: Unchanged at 2.70%

The previous rate cut occurred on March 12, 2025, when the bank lowered the benchmark rate by 25 basis points. The BoC has since paused further reductions to assess the broader effects of earlier policy moves and incoming economic data.

Drivers of the Decision: Global Trade and Domestic Conditions

The central bank highlighted several areas of concern influencing its decision to hold:

Global Trade Environment

Ongoing trade policy developments—especially those involving the United States—remain a significant source of uncertainty. On June 3, 2025, a new U.S. executive order increased tariffs on Canadian steel and aluminum to 50%. While some global tariffs have been eased in bilateral negotiations, many remain above early-2025 levels, and further actions are possible.

These developments have implications for Canadian exports, supply chains, and price levels. BoC Governor Tiff Macklem noted that such tariffs can exert downward pressure on growth while also creating cost-side inflation risks, depending on how businesses respond.

Domestic Economic Performance

• GDP: Canada’s economy grew 2.2% in Q1 2025, slightly above expectations. However, the BoC anticipates a weaker second quarter, with forthcoming GDP data expected to clarify the pace of growth.

• Labour Market: Employment indicators have softened. The unemployment rate has risen to 6.9%, with job losses concentrated in trade-exposed sectors.

• Housing Market: Housing activity has declined, particularly in the resale market. May 2025 sales in the Greater Toronto Area dropped 13% year-over-year, according to the Toronto Regional Real Estate Board. National sales were down 10% in April.

• Consumption: Consumer spending has moderated from its Q4 2024 pace but continues to grow. Consumer confidence, however, has weakened.

• Inflation: Headline inflation for April came in at 2.3% (excluding tax impacts), slightly above the bank’s expectations. The removal of the consumer carbon tax contributed to a broader cooling, but core inflation measures (excluding food and energy) increased more than anticipated. These figures will be closely monitored in the coming CPI reports, with the May data due on June 24.

Impacts on Borrowers, Consumers, and Businesses

Mortgage Market

For Canadians with variable-rate mortgages, this decision means no immediate change in borrowing costs. Many are still opting for variable rates, anticipating the possibility of further rate cuts later in the year. Fixed mortgage rates have not adjusted as quickly and remain relatively stable.

Industry experts advise that while today’s rates are low by historical standards, borrowers—especially those up for renewal—should assess their options carefully. Lenders remain competitive, and shopping around may yield better terms. However, some caution that waiting for significantly lower rates may not be the most practical approach given market unpredictability.

Consumer Spending and Pricing

While household spending continues, concerns about higher prices tied to new tariffs are mounting. Businesses affected by import costs may adjust prices, which could pass on to consumers in the form of higher costs for goods and services. Households are also reporting concerns around affordability and purchasing decisions under the current economic climate.

Business Conditions

Lower interest rates can ease borrowing costs, which helps with cash flow and investment planning. However, small and medium-sized businesses continue to face pressure from higher operating expenses. A significant portion are absorbing increased costs into already tight profit margins.

Tariff-related supply chain adjustments, renegotiated contracts, and evolving import/export conditions remain major challenges, especially for manufacturers and retailers managing cross-border logistics.

Auto dealers, in particular, report elevated inventory levels compared to last year, making the cost of financing stock more burdensome under current interest rates. In this environment, many business leaders express a preference for stable trade relations over further rate reductions.

What Comes Next

Between now and the July 30 rate decision, the BoC will review two more inflation (CPI) reports and labour force surveys, as well as updated GDP data. These indicators will help shape the Governing Council’s view on whether another rate cut is warranted.

Economists at institutions such as BMO and CIBC suggest a rate reduction remains a possibility, especially if data shows continued economic cooling and if inflationary pressures ease. A potential 25-basis-point cut could be considered should those conditions be met.

Additional Considerations: Employment Rights

As economic conditions fluctuate, it’s important for Canadian workers—particularly those in non-unionized roles—to be aware of their rights in the event of job loss. Employees in British Columbia, Alberta, and Ontario may be entitled to up to 24 months of severance pay when terminated without cause. Even in cases where dismissal is labeled “for cause,” many employees may still qualify for full compensation under Canadian employment law.

For guidance on severance packages, layoffs, or workplace issues, legal consultation is available from firms specializing in employment law. Note that unionized employees must work through their union representatives, as employment lawyers cannot intervene in those cases.

Conclusion

The Bank of Canada’s decision to hold the policy rate at 2.75% reflects a complex mix of domestic and international factors. For consumers and businesses, the implications vary by financial situation, sector, and exposure to trade. As always, understanding how monetary policy intersects with personal or business planning is key to making informed decisions in a changing economic environment.

If you have questions about how rate policy may affect your real estate goals or financial planning, we’re here to help navigate the facts with clarity and care.

Curious how shifting rates and trade policies could affect your real estate plans? We’re keeping a close eye on developments like these to help our clients stay ahead—reach out anytime to talk strategy.

“Expectations vs. Reality: Finding Opportunity in a Complex Market”

As we move into summer, the Metro Vancouver real estate market is in a place many didn’t anticipate—and for others, it’s exactly what they expected. While earlier forecasts hoped for a spring revival powered by lower interest rates and pent-up demand, the reality unfolding is a more complicated, nuanced market—one shaped by rising inventory, cautious buyers, and shifting investor sentiment.

But before we jump to conclusions, let’s look at the facts—and then the story behind them.

📊 May 2025 Market Snapshot

According to the Real Estate Board of Greater Vancouver (REBGV), May brought:

• 2,228 sales, down 18.5% year-over-year and 30.5% below the 10-year average

• 17,094 active listings, a 10-year high and 45.9% above the 10-year average

• Sales-to-active listings ratio:

  • Detached: 10.2%

  • Townhomes: 17.4%

  • Apartments: 14.7%

  • Overall: 13.4% → Balanced, but leaning toward a buyer's market

📉 Prices nudged down again:

• Composite benchmark: $1,177,100 (↓ 0.6% MoM | ↓ 2.9% YoY)

• Detached: $1,997,400 (↓ 1.2% MoM)

• Townhomes: $1,106,800 (↑ 0.4% MoM)

• Apartments: $757,300 (↓ 0.7% MoM)

👉 The Townhome segment was the only one to see month-over-month price growth—likely tied to relative affordability and family demand

🧭 So, What’s Really Going On?

This isn’t a crash. It’s not a boom. It’s a transition—a marketplace that’s adjusting under pressure from macro forces and consumer caution.

Many came into spring expecting that falling interest rates and slightly improved affordability would bring momentum. And yes, rates have come down: the Bank of Canada has lowered its policy rate to 2.75%, with bond yields and fixed mortgage rates falling accordingly

But rate cuts haven’t yet translated into activity. Why? Because buyers aren’t just watching rates—they’re watching prices, policy, global headlines, and each other.

And in a market where listings are abundant and showings are light, many are choosing to wait.

🏘️ Inventory Is Building, and That Matters

May marked the highest number of active listings since 2014. Inventory is up 30% year-over-year across the region, and more significantly:

• Condos: +76% above the 10-year average

• Townhomes: +72%

• Detached: +36%

That’s opportunity—for some—and pressure for others.

While this dynamic puts pricing power in buyers’ hands, it also demands sharper strategy from sellers. In this kind of market, price, presentation, and positioning matter more than ever.

🏙️ Market Conditions Vary by Area

What we’re seeing in Burnaby isn’t what we’re seeing in Port Moody or Vancouver West. A few highlights:

🔹 Burnaby

• Benchmark prices fell across all three sub-areas, with Burnaby East down 3.1% month-over-month

• Burnaby North Detached held up better, still showing above-average absorption

🔹 New Westminster

• Detached benchmark: $1.52M (↓ 4.5% MoM)

• Townhomes and condos: largely flat, but inventory remains high

🔹 Tri-Cities

• Port Moody condos bucked the trend with a 1.6% MoM price gain

• Coquitlam and Port Coquitlam show signs of stabilization in the townhome segment

🔹 Vancouver East & West

• Most property types saw modest month-over-month declines across the board

This is what we mean when we say one headline can’t tell the whole story. Smart decisions today require hyperlocal knowledge.

💼 The Investor Pullback and Mortgage Pressure

There’s no question that the investor appetite has cooled—especially in the pre-sale market. High costs, weaker rental returns, and regulatory shifts have many sidelined or exiting. Meanwhile, we’re entering a wave of mortgage renewals:

• Roughly 1.7 million mortgages will reset in 2025 alone

• Most borrowers will face significantly higher monthly paymentsrennielandscape_Spring2…

So yes, some listings are from investors or owners opting out before renewal pain sets in. And that adds to supply, further empowering today’s buyers.

🌍 What About Policy, Politics, and the Big Picture?

Several major developments are influencing market psychology:

• Federal election outcome: A minority Liberal government is in place; housing policy adjustments are expected but uncertain.

• Population shifts: For the first time, Canada is expected to experience net population decline due to reduced immigration targets and a drop in non-permanent residents—especially impactful in major metros like Vancouver

• New buyer incentives: Programs like BC’s Attainable Housing Initiative and expanded 30-year amortizations may help some first-time buyers but won’t change the market

🧠 What You Should Know as a Buyer, Seller, or Owner

🛍️ Buyers:

This is the most buyer-favourable market we’ve seen in years. You have time, choice, and negotiating power. But don’t confuse a quiet market with a bad one—opportunity often lives in the silence.

🏠 Sellers:

Pricing is strategic, not emotional. Buyers are discerning, and showings are down. A well-prepped, properly priced home will still sell—but patience and precision are key.

💼 Investors:

The landscape has shifted. Resale may now offer better value than new construction. If your goals are long-term and yield-focused, the right property at the right price may still work—but speculation is out, fundamentals are in.

🎯 Final Thought: There’s No One “Market”

There’s the detached market. The condo market. The Burnaby market. The first-time buyer market. The investor market.

Each is behaving differently.

Our job—always—is to help you understand which one you’re in, what’s happening within it, and how to make the best move forward.

📞 Ready to Talk?

Whether you’re exploring your options or ready to act, let’s connect. Every market brings opportunity—it just takes the right strategy.

New federal policy offers full GST relief on new homes up to $1M and partial rebates up to $1.5M for eligible first-time buyers.

On May 27, 2025, the Government of Canada introduced a new Goods and Services Tax (GST) relief measure aimed at first-time home buyers purchasing newly built homes. Known as the First-Time Home Buyers’ GST Rebate (FTHB GST Rebate), this initiative is part of broader efforts to improve housing affordability and stimulate new home construction across the country.

This rebate applies specifically to eligible individuals purchasing or building a new primary residence and is designed to reduce the upfront tax burden associated with buying a newly constructed home. The policy builds on existing housing rebate programs and introduces updated thresholds that better reflect today’s real estate market conditions.

Overview of the FTHB GST Rebate

The FTHB GST Rebate provides targeted GST relief on new homes purchased by first-time buyers:

• Homes valued up to $1 million: Eligible buyers may receive a 100% rebate of the GST paid, equivalent to a maximum of $50,000.

• Homes valued between $1 million and $1.5 million: The rebate is gradually reduced on a sliding scale, phasing out completely at the $1.5 million mark.

• Homes at or above $1.5 million: No rebate is available.

The measure is intended to ease the financial strain for Canadians entering the housing market for the first time and encourage the development of new residential units by supporting demand.

This new rebate works alongside the existing GST/HST New Housing Rebate, and both may be available to qualifying buyers, depending on their province and circumstances.

Eligibility Criteria: Who Qualifies as a First-Time Home Buyer?

To access the FTHB GST Rebate, an individual must meet the following key conditions:

• Be at least 18 years old;

• Be a Canadian citizen or permanent resident;

• Not have owned a home (or lived in a home owned by a spouse or common-law partner) in the calendar year of the purchase or any of the four preceding calendar years.

In addition, the property must be:

• Acquired or built for use as the buyer’s primary place of residence, and

• The first occupancy of the home must be by the eligible first-time buyer.

Only one individual in a purchasing group must meet the first-time home buyer definition to qualify for the rebate, but that individual must be the one who will live in the home.

Buyers who previously claimed the rebate (or whose spouse or partner has) are not eligible to claim it again.

What Types of Properties Are Covered?

The FTHB GST Rebate applies to the same types of properties eligible under the existing New Housing Rebate, with adjustments made to focus on first-time buyers. Qualifying housing types include:

• Newly constructed homes purchased from builders;

• Owner-built homes, where the buyer constructs a new home on owned or leased land;

• Co-op housing shares, provided the cooperative paid GST on the new unit.

The rebate is not available for:

• Co-op housing that qualifies for the separate 100% GST rebate for purpose-built rental housing;

• Assignment sales where the original agreement of purchase and sale was signed before May 27, 2025.

To qualify, construction must begin before 2031, and the home must be substantially completed before 2036. The purchase agreement must also be signed on or after May 27, 2025, and before 2031.

Rebate Structure Based on Purchase Price

The rebate amount is determined based on the value of the home:

• $1 million or less: Eligible for the full rebate of the GST paid, potentially up to $50,000.

• Between $1 million and $1.5 million: Rebate is phased out proportionally.

  • For example, a $1.25 million home may be eligible for a rebate equal to approximately 50% of the GST.

• $1.5 million or more: No rebate is available.

This structure reflects the government’s intent to balance affordability assistance with fiscal prudence by targeting relief where it is most needed.

Policy Context and Legislative Details

This initiative was introduced through proposed amendments to the Excise Tax Act, tabled by the Minister of Finance and National Revenue on May 27, 2025. While the government had previously indicated a retroactive effective date of March 20, 2025 in its party platform, the current legislative proposal sets the eligibility window beginning from May 27, 2025.

The rebate is projected to deliver approximately $3.9 billion in tax savings over five years, beginning in the 2025–2026 fiscal year.

Comparison to Previous Policy

This new measure represents a significant update to prior housing rebate rules:

• Previous policy capped eligibility at homes under $450,000, with a maximum GST rebate of around $6,300—a figure unchanged since the early 1990s.

• The 2025 update raises the rebate threshold to $1 million, introduces a phased-out rebate for homes up to $1.5 million, and increases the maximum possible rebate amount to $50,000.

The revised policy is more reflective of current housing market prices in major urban centers and seeks to offer more practical support to prospective first-time home buyers.

Complementary Housing Measures

The FTHB GST Rebate forms part of a broader set of federal housing initiatives announced in recent years, including:

• An increase to the insured mortgage cap from $1 million to $1.5 million (effective December 2024);

• Changes allowing longer amortization periods for first-time buyers;

• Enhancements to the Home Buyers’ Plan (HBP) and the Tax-Free First Home Savings Account (FHSA).

Together, these policies aim to address multiple barriers facing Canadians in accessing homeownership, from upfront costs to financing options.

In Summary

The First-Time Home Buyers’ GST Rebate is a newly introduced federal policy providing meaningful tax relief for eligible first-time purchasers of new homes in Canada. By updating eligibility thresholds and increasing the maximum rebate amount, the policy reflects the economic realities of today’s housing market while supporting the development of new housing supply.

As with any government program, individual circumstances may affect eligibility or the value of the rebate received. Those considering a new home purchase are encouraged to consult with qualified professionals to understand how this rebate may apply to their specific situation.

Curious how the FTHB GST Rebate could impact your buying journey or home sale strategy? We’re closely tracking how this policy unfolds in local markets. Reach out if you’d like tailored insight based on your goals.