News

Co-op conversions

Peter Mitham, Business In Vancouver
Aug. 1, 2017, midnight

Winding down strata properties might be a new phenomenon, but spare a thought for co-operative housing arrangements.

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Apartment transaction values increase up to 63 per cent

Tanya Commisso, Western Investor
July 11, 2017

A new mid-year report from the Goodman team shows a decrease in apartment sales and multi-family sites selling at a premium for potential redevelopment

Apartment sales in Metro Vancouver have slowed considerably since last year, but dollar volumes continue to climb as rental housing remains scare.

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Prices up, Metro apartment building sales down in 2017’s first half

Peter Mitham, Business in Vancouver
July 10, 2017

Halftime

The first half of the year is over, and the first numbers bearing out the ongoing strength of investment real estate sales are in.

According to the Goodman team – David and Mark Goodman, and Cynthia Jagger – at HQ Real Estate Services Inc., 87 purpose-built Greater Vancouver apartment blocks sold in 2017’s first six months, down 30% from 124 in 2016’s first half. The aggregate value of the deals was $1.4 billion, 23% higher than in the same period last year.

The sum highlights investors’ willingness to pay for available properties, but the number of deals points to the ongoing lack of properties to buy.

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Bethlehem-bound

Peter Mitham, Business In Vancouver
June 27, 2017, 6 a.m.

And the investors said one to another, “Let us now go even unto Bethlehem and see this thing which has come to market.”

Or at least that’s the sense from the Goodman team at HQ Real Estate Services Ltd., where Cynthia Jagger is taking the lead on the Bethlehem Lutheran Church listing alongside David and Mark Goodman.

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Political lock puts B.C. landlords in limbo

Frank O’Brien, Business in Vancouver
June 13, 2017

Potential changes could affect sales, competition, demolitions

B.C. landlords are watching closely to see if the BC NDP and BC Green Party coalition survives to form the next provincial government and, if so, what it will mean to the tightest rental housing market in Canada.

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Metro rental apartment buildings sales weaken

Frank O’Brien, Business in Vancouver
April 4, 2017

Record-setting pace slows as prices push market peak and cap rates plunge

Record-shattering sales of rental apartment buildings have slowed in Metro Vancouver, but analysts say the slowdown could be more a sign of fewer properties available than of flagging demand.

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Seriously! Not an April Fool’s joke
Coming soon: 11,784 new rental suites

Goodman Report
April 1, 2017

For the last 10 years, we at the Goodman Report have railed against the rental housing policies of Metro Vancouver – and in particular the City of Vancouver – relating to the glaringly insufficient new rental stock under construction. The track record of local politicians in creating an environment conducive to purpose-built rental construction had been dismal at best, a travesty at worst.

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Separation of church and real estate

Frank O’Brien with Christopher Cheung and Pat Johnson, Business in Vancouver
March 21st, 2017

Top land prices have persuaded multiple Metro Vancouver churches to sell out or leverage development with joint venture partners.

A small church in Vancouver’s Mount Pleasant neighbourhood is attracting a lot of visitors this April, but most will be drawn by something other than the Holy Spirit.

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Protecting Rental Stock or Holding Back Rental Construction?

Jon Meyer, News Talk 980 CKNW
February 27th, 2017

Bulldozing old three and four storey apartment buildings in established neighbourhoods could cure what ails Vancouver’s dismal rental vacancy rate.

But the city imposed a temporary moratorium on the demolition of old apartment buildings in 2007, but it’s still in place today.

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