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#1701 LeoVictoria

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Posted 02 April 2019 - 09:36 AM

By the way the current director of the OSFI was appointed in 2014 under the previous government.   And CMHC has been tightening access to credit since 2008 nearly every year with small adjustments.   The various organizations under the Liberals have just continued what they were already doing under the Conservatives.    Given that the Conservatives are supposed to be, well, conservative, I doubt they will keen to open up the credit taps again.  



#1702 Mike K.

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Posted 02 April 2019 - 09:57 AM

Those details are lost in translation when the public associates the stress test with the Liberals, and the Conservatives have a perfect opportunity to insist the stress test be de-coupled from its current restraints with a more practical solution implemented (such as nixing the stress test if you lock in your mortgage for 7+ years, reducing the uptick to 1.5 or 1%, etc.).


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#1703 LeoVictoria

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Posted 02 April 2019 - 10:19 AM

Those details are lost in translation when the public associates the stress test with the Liberals, and the Conservatives have a perfect opportunity to insist the stress test be de-coupled from its current restraints with a more practical solution implemented (such as nixing the stress test if you lock in your mortgage for 7+ years, reducing the uptick to 1.5 or 1%, etc.).

 

Yeah might happen.    "We will lower the benchmark stress test rate by 50 to 100bps and make other targeted adjustments to the OSFI stress test!" isn't much of a political rallying cry.   I think the conservatives have a better shot at talking about the complete failure of the Liberal affordable housing program so far at actually building any significant amount of housing. 



#1704 Mike K.

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Posted 02 April 2019 - 10:32 AM

Probably. But if, as you say, the OSFI is totally independent of the government, and they believe in their test, they won’t budge unless the Conservatives agree to concessions.

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#1705 MarkoJ

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Posted 15 April 2019 - 09:53 AM

Victoria Real Estate Board
Mon Apr 15, 2019:
 
April  April
2019  2018
Net Unconditional Sales: 310  774
New Listings: 681 1,291
Active Listings: 2,598  2,002
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1706 MarkoJ

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Posted 23 April 2019 - 08:16 AM

Victoria Real Estate Board
Tues Apr 23, 2019:
 
April April
2019 2018
Net Unconditional Sales: 479 774
New Listings: 980 1,291
Active Listings: 2,649 2,002
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1707 MarkoJ

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Posted 29 April 2019 - 11:09 AM

Victoria Real Estate Board
Mon Apr 29, 2019:
 
Month April April
Year 2019  2018
Net Unconditional Sales: 622  774
New Listings: 1,302  1,291
Active Listings:  2,749  2,002
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1708 tjv

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Posted 29 April 2019 - 05:01 PM

wow, active listings are really starting to skyrocket



#1709 MarkoJ

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Posted 06 May 2019 - 08:41 AM

Victoria Real Estate Board
Mon May 6, 2019:
 
Month May May
Year 2019  2018
Net Unconditional Sales: 121  755
New Listings: 298 1,504
Active Listings: 2,798  2,394
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1710 Mike K.

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Posted 06 May 2019 - 08:43 AM

That's an incredibly strong start to May for this market, literally toe-to-toe with last May so far.


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#1711 tjv

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Posted 06 May 2019 - 09:00 AM

Curious out of the 121 sold so far this month do we have a breakout for SFHs, townhomes, and condos?

 

I see active listings continue to skyrocket



#1712 Mike K.

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Posted 06 May 2019 - 09:09 AM

There's 400 more properties listed this year than last, or a 17% increase. I don't think skyrocket is the right word here, but they have certainly risen.


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#1713 tjv

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Posted 06 May 2019 - 11:57 AM

^and 3 months ago there were 2001 active listings. In 3 months we have a 40% increase in listings.  Yah, skyrocket is very accurate



#1714 RFS

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Posted 06 May 2019 - 01:34 PM

In Vancouver,

 

https://dailyhive.co...port-may-3-2019

 

MLA Advisory’s April 2019 Pre-Sale Real Estate Insights states approximately 5,000 concrete units within 17 development projects have postponed their sales launches and are instead opting to await for more favourable market conditions.



#1715 Mike K.

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Posted 06 May 2019 - 01:51 PM

^and 3 months ago there were 2001 active listings. In 3 months we have a 40% increase in listings. Yah, skyrocket is very accurate

Which happens every year. You need to compare the same periods to assess whether listings are increasing or maintaining regular seasonal averages (ie there are more listings in May than there are in January, 99 times out of a 100, etc).

In fact, the percentage and actual unit rise in listings is lower this year than last year where listings jumped from 1,500 at the end of January to 2,400 at the end of April, a 60% rise with 900 more units.

In 2019 the same period saw 800 more units but an actual increase of only 40%.

So the more accurate sentiment would be to suggest that the influx of new listings is slowing down by quite a considerable amount compared to last year.

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#1716 tjv

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Posted 06 May 2019 - 04:05 PM

so May 7, 2018 there were 2109, so that's a ~35% increase year over year in the amount of listings.  Also the amount of listings is now at a 3.5 year record high.



#1717 Mike K.

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Posted 06 May 2019 - 06:00 PM

On May 6th Marko’s data above shows there were 2,400 listings. This year there are 2,800.

What’s interesting is April saw the same number of listings this year and last (1,300).

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#1718 tjv

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Posted 06 May 2019 - 07:18 PM

 

Victoria Real Estate Board
Mon May 7, 2018:
 
May May
2018 2017
Net Unconditional Sales: 133 1,006
New Listings: 335 1,451
Active Listings: 2,109 1,896
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year

 

where do you get 2400 last year?  I see 2109 active listings


Edited by tjv, 06 May 2019 - 07:19 PM.

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#1719 Sparky

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Posted 06 May 2019 - 07:24 PM

Mike’s math is a little off today.

Go easy on him.

#1720 Mike K.

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Posted 06 May 2019 - 08:10 PM

See below:


Victoria Real Estate Board
Mon May 6, 2019:

Month May May
Year 2019 2018
Net Unconditional Sales: 121 755
New Listings: 298 1,504
Active Listings: 2,798 2,394

Please Note

Left Column: stats so far this month
Right Column: stats for the entire month from last year


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


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