Press Archives

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


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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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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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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Metro Vancouver mayors say homelessness has reached crisis in B.C.

Chuck Chiang, Vancouver Sun
February 27, 2017

Metro Vancouver mayors say homelessness in the region has reached crisis proportions, and the situation may be even more dire in the suburbs and rural areas than in Vancouver.

The latest numbers show that the unsheltered homeless population in Metro Vancouver jumped 26 per cent every year since 2011, and about five people become homeless every week. Today, roughly 4,000 people in the region are in immediate need of housing, the report said. The sobering numbers were released Monday at a press conference announcing the recommendations of Metro Vancouver’s homeless task force to tackle the problem.

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Should Old Rental Buildings Be Saved — or Sacrificed?

Christopher Cheung, The Tyee
February 14th, 2017

“I feel like I really lucked out,” said Mitch William. His rent is a bargain.

William pays $855 a month for a 750-square foot one-bedroom apartment in Metro Vancouver where the average rent is $1,223, according to a fall 2016 report by the Canadian Mortgage and Housing Corporation (CMHC).

His location is also convenient. His rental building is less than a block away from the Metrotown shopping centre and SkyTrain station. William, 25, takes the train to work downtown at an insurance company. The ride only takes 16 minutes.

William’s apartment is coveted for another reason: there aren’t nearly enough rentals in Vancouver to go around at any price.

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