Updates
BC government’s formal approval to fund the Surrey-Langley Skytrain Project..
Surrey-Langley SkyTrain: B.C. Government Formally Approves the Funding The BC government gave formal approval to fund $3.94 Billion for the project. Full completion projection is 2028 which is 2 years earlier than indicated. Instead of doing it in phases, it will be done in one shot. Source: Vancouver Sun The Surrey-to-Langley SkyTrain extension hit a…
Read MoreBank of Canada Hikes Key Rate by 50 Basis Points
Bank of Canada Hikes Key Rate by 50 Basis Points for Second Time in a Row….. The oversized hike brings the policy interest rate to 1.5 per cent. See full statement below: “The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit…
Read MoreBank of Canada Releases its Annual Report: 2021
Bank of Canada Releases its Annual Report: 2021 The agreement between Bank of Canada and the Government of Canada states a target of 2% inflation rate Bank of Canada-Annual Report 2021 The Governor reflects on the impact of Covid on country’s economy and the challenges it has brought making the economic recovery so complex.…
Read MoreBank of Canada Increases Policy Rate
Bank of Canada increases policy interest rate… Bank of Canada hikes key interest rate to be 0.5% See full statement below: “The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping…
Read MoreSouth Campbell Heights gets final approval from Metro Van
SOUTH CAMPBELL HEIGHTS GETS FINAL APPROVAL Regional government finally approves Surrey’s plan to expand industrial lands Metro Vancouver’s regional government has narrowly approved the City of Surrey’s plan to turn rural lands into an industrial park. The decision comes despite objections from the Semiahmoo First Nation and environmentalists. After more than three hours of debate,…
Read MoreSurrey Langley SkyTrain Project Updates
Surrey Langley SkyTrain Project Updates Fall 2020 TransLink Enters Phase 3 of Public Engagement for Surrey Langley SkyTrain Project September 18, 2020 As TransLink enters its third phase of public engagement for the Surrey Langley SkyTrain project, updates have been released on overall project progress highlighting previous public engagement. The media presentation on updates posted…
Read MoreMortgage Rate Cut By Bank of Canada
Mortgage Rate Cut By Bank of Canada MORTGAGE RATES HAVE FALLEN FOR THE THIRD TIME THIS YEAR The mortgage rate has been cut by the Bank of Canada to 4.79 percent. A further decrease from where the rate fell in March of 2020 at 5.04 percent. These lower rates can be seen as a win…
Read MoreRedwood Heights Community Plan Approved
REDWOOD HEIGHTS NEIGHBOURHOOD CONCEPT PLAN APPROVED REDWOOD HEIGHTS (Grandview Area 4) OWNERS CAN FINALLY PROCEED WITH DEVELOPMENT AFTER TEN YEARS OF PATIENCE On May 4th, 2020, during the City of Surrey’s Council Meeting, the Council officially approved the Redwood Heights Neighbourhood Concept Plan (NCP). Redwood Heights is the fourth neighbourhood planned within the Grandview Heights…
Read MoreCanada Emergency Commercial Rent Assistance
CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE THE FEDERAL GOVERNMENT OF CANADA HAS JUST ANNOUNCED A NEW RENTAL SUPPORT PROGRAM: the Canada Emergency Commercial Rent Assistant. The Canadian Government is offering a package that gives property owners a forgivable loan to cover 50% of the monthly rent. In a move to assist small businesses, non-profits, and charity…
Read MoreReal Estate Recap: April 16, 2020
Real Estate Recap APRIL 16, 2020 Here are the top stories we’re tracking that are affecting real estate values in British Columbia: THE GREAT LOCKDOWN The International Monetary Fund (IMF) has revised its predictions for this year and ongoing financial challenges, which has now been dubbed the “Great Lockdown” recession. IMF’s forecast predicts the steepest economic…
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