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On Monday city council approved a pair of deals aimed at bringing a $37 million underground parkade and condominium complex to the 600 block of George Street downtown.

http://www.princegeorgecitizen.com/news/local-news/city-council-approves-condo-project-partnership-1.23126065

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Ottawa, ON, December 14, 2017 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018.

Housing market trends continue to diverge considerably among regions along four general themes: British Columbia; the Greater Golden Horseshoe; oil and natural resource dependent provinces; and everywhere else.

Driven by sales trends in the Greater Golden Horseshoe, Ontario home sales have rebounded from the depths reached in the summer, but remain well below the peak reached earlier this year. Recently announced changes to mortgage regulations next year may be motivating some homebuyers to advance their purchase decision before the new rules come into effect in January.

Meanwhile, sales activity in British Columbia has improved. Supported by rising activity in the Fraser Valley and on Vancouver Island, sales for the province are currently...

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Ottawa, ON, December 14, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales rose strongly in November 2017.

Highlights:

  • National home sales rose 3.9% from October to November.
  • Actual (not seasonally adjusted) activity was up 2.6% from November 2016.
  • The number of newly listed homes climbed 3.5% from October to November.
  • The MLS® Home Price Index (HPI) was up 9.3% year-over-year (y-o-y) in November 2017.
  • The national average sale price edged up 2.9% y-o-y in November.

Home sales via Canadian MLS® Systems rose for the fourth month in a row in November 2017, up 3.9% from October. Led by a 16% jump in sales in the Greater Toronto Area (GTA), the surge in sales there accounted for more than two-thirds of the national increase. The continuing rebound put November sales activity a little over halfway between the peak recorded in March 2017 and the low reached in July.

Actual (not seasonally adjusted) activity rose...

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  •  Impact of new stress test expected to be contained to first half of 2018 for most major markets
  • Still risk of high price appreciation in Greater Toronto Area and Greater Vancouver as chance of market correction fades
  • Compounding policies could have unintended consequences for struggling housing markets

Full read: https://www.royallepage.ca/realestate/news/new-osfi-stress-test-set-to-limit-national-home-price-appreciation-in-2018/#.WjF1aEqnGUl

Royal LePage Market Survey Forecast 

Region 2017 Aggregate Home Price(Estimate) 2018Aggregate Home Price


(Forecast)

Year-over-Year(%)
Canadian House Price Composite(53 Cities) $631,000 $661,919 4.9%
Greater Toronto Area $844,000 $901,392 6.8%
Greater Montreal Area $387,000 $408,285 5.5%
Greater Vancouver $1,287,000 $1,353,924 5.2%
Ottawa $444,000 $458,208 3.2%
Calgary $483,000 $494,109 2.3%
Edmonton $388,000 $382,180 -1.5%
Winnipeg $303,000 $315,120 4.0%
Halifax $319,000 $326,975 2.5%
Regina $327,000 $329,289 0.7%
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Calling it a "difficult decision," the B.C. government has decided to go ahead with the controversial Site C hydroelectric dam, paving the way for work to restart.

"At the end of the day, we've come to a conclusion that, although Site C is not the project we would have favoured or would have started, it must be completed," said Premier John Horgan in announcing the decision.

"This is a very, very divisive issue, and will have profound impact … for a lot of British Columbians. We have not been taking this decision lightly." http://www.cbc.ca/news/canada/british-columbia/site-c-dam-decision-1.4435939

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Listing inventory for last 5 years (2012 to 2017) on a steady decline here in Prince George both in city and rural area. The good news is more people are coming to Prince George than leaving which is great for many reasons.

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Council will be looking at a new condominium project for the downtown.
The proposal would see 151 condo units built in four phases at the location of the former Ed DeLorme's shop between City Hall and Queensway.
The plan also includes a City parking facility underground that will provide 290 stalls, 133 of which would be reserved for owners of the condominiums.

Click here for rest of the info http://ckpgtoday.ca/article/510323/condominiums-proposed-downtown

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