Andreas Nystrom

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We all know Vancouver is an amazing place to live, raise a family and experience everything that BC has to offer! According to a new survey it now has one of the best reputations in the world. The 2015 City RepTrack by the Reputation Institute released its annuals findings last week.

 

The survey combines emotional reputation and rational reputation on aspects like trust and admiration on things like effective governments, appealing environment and advanced economy.

 

Sydney, Austrailia took first place. Melbourne, Australia took second, Stockholm, Sweden third, Vienna, Austria fourth and Vancouver fifth.

 

The Reputation Institute found a correlation between the most reputable cities and places ranked best to live. Some of the worst on the list were: Moscow, Bogota and Mexico City.

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Lougheed Town Centre in West Coquitlam is undergoing some massive changes in the housing, development and transportation sector in the next year.

 

Onni has a brand new luxury development going up in the heart of the up and coming district called Brookmere. This quiet area has evolved into an active region with tons of changes lined up for the next couple years including the Evergreen Line expected to open late 2016.

 

Previews opened this past weekend with homes starting from $269,900. Be sure to contact me for more information regarding this amazing new Luxury Development in Coquitlam.

 

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Conditions continue to favor home sellers across the Greater Vancouver housing market. REALTORS® listed 3,345 homes on the regions MLS® in September which is up 14.5% from September 2014 and is up 32.9% from the 10-year average for the month.

 

Home sales have been between 25-30% above the 10-years sales average and home listing activity has not kept up with this demand so far in 2015.

 

There are 10,805 homes listed for sale which is down 27% compared to last year. Active home buyers and consistently low home listing levels have contributed to home price increases in 2015.

 

The benchmark house price in Greater Vancouver rose to $722,300 which is up 13.7% from last year.

 

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Luxury Homes/Shutterstock


The luxury home market in vancouver isn’t affected by Canada’s recently announced recession, real estate brokerages claim this is due to the demand from foreign buyers.

 

Demands for homes with a pricetag of $3 million or more has increased 79% between January 2015 and September 2015 in Vancouver, particularly from Chinese buyers as they see Canada as a great place to live, invest and raise their families.

 

This brings major concerns over foreign investments in Vancouver's real estate market, thus prompting Mayor Gregor Roberston to propose a Speculation Tax back in May 2015. Christy Clark squashed the proposal with fear of housing prices dropping.

 

Based off of the limited data on foreign buyers, they don’t make up more than 5% of the overall market in Vancouver.

And around 77% of Vancouverites support an absentee homeowner tax, according to an Insights West poll.

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