News From Nexus

IN THIS ISSUE:

      • Affordability ball in the hands of politicians now

      • Decor: picking the right colours for paint

      • REBGV statistics: listings needs continue

      • News & stats: B.C. migration, Character Homes update

      • Argyle apartment checks all the boxes for location

Affordable housing crisis and ‘new’ government!

     The elephant that has been in the room — or in the political arena — is gone. Affordable housing was on the platforms of all parties in last month’s Federal Election.
     However, there may be a new elephant. Many home owners are wondering whether a capital gains tax will find its way to reality, and little is being said about that.
 
     Meanwhile, where does the Federal Government go from here with regards to dealing with the affordable housing issue that is fuelled by low inventory and high prices in B.C. and pretty much across the country?

     Paul Kershaw, founder and lead researcher of Generation Squeeze, an advocacy group billed as a voice for younger Canadians, told the CBC:

     ”[Politicians] need to say, 'Look, we tried to get two things out of housing for awhile: a place to call home and a really good investment opportunity. The latter, though, keeps driving home prices out of what locals earn and that leaves less affordability.’"
     Rob McLister, mortgage editor for Ratesdotca Group, told Storeys.com: 
     “I think the most important outcome…is we now have unanimous agreement from politicians on all sides that we have a serious housing crisis, and something needs to be done. So hopefully it



depoliticizes the process enough that we can get new policies that incentivize supply, which is the most critical strategy.”
     A post-election editorial on moneysense.ca said:
 
     “A successful increase in housing supply by any Federal Government seems like a longshot. And even if they can pull it off and the additional supply puts some downward pressure on prices, home values will still likely increase — just at a slower pace.”
     Going into the election, the Liberals proposed tax credits and building 1.4 million homes, among other things. Such as a two-year moratorium on foreign ownership and a plan to address NIMBYism (Not In My Back Yard) with an application-based fund for municipalities that "grow housing supply faster than their historical average, increase densification, speed up approval times.”

     Now elected, what will they implement?
     There are other fruitful possibilities, like releasing some federal buildings for housing, encouraging foreign investment in purpose-built (and affordable) rental housing, creating a new market with 7-to-10-year mortgages to provide stability for first-time buyers and lenders alike, and identifying and prosecuting money laundering in Canadian real estate markets.


Location even more key for Argyle apartment

     You’ve heard the saying about what’s most important in buying or selling a home…location, location, location. The newest Nexus Realty listing takes the saying a step further, because it isn’t repeating the word three times for emphasis, but because it applies threefold.
     Location 1: West Vancouver, one of the Lower Mainland’s most appealing cities in which to live, and this address is a great apartment in The Crescent, on Argyle Avenue.
 
     Location 2: The community, because it’s at the heart of so much that happens in West Vancouver, just off 21st Street and with Community Centre, Aquatic Centre, Seniors Centre, Library, the Seawall, several parks and at least three churches within walking distance.
     Location 3: Within the building, this 1,578-square foot apartment is ideally located, an end unit on the fifth floor with views in three directions.
     
     All of these features are what makes it such an attractive property, at $1,588,000. The apartment is semi-waterfront, with a great view across the water to the grounds of the University of British Columbia, Kitsilano and Point Grey.
     That’s to the south-west.
     Looking east from the balcony and you can see the beauty of Stanley Park, and looking west you’ll enjoy the West Vancouver shoreline as it winds its way towards Horseshoe Bay, Lighthouse Park and the mountains.
     
     Inside, the apartment is exceptionally bright, illuminated by sunshine pouring through the living room’s floor-to-ceiling windows. With two bedrooms and two full bathrooms, the space is generous, as is the private balcony. Also generous is the common area, with an outdoor pool connected to this concrete, 10-storey iconic building
     It’s in a perfect, well, location.



 That from August 2020 to August 2021, the  area with the greatest increase in  residential home prices — 29 per cent  —  was Vancouver Island and that Kamloops  and Chilliwack were the only other areas  with increases of more than 20 per cent?



Decor: Paint the town, paint your house

First in a Series
Every issue of New From Nexus will feature some thoughts, tips or just observations about Decor. For October, the subject is paint colours.
     Paint, anyone?
     That’s a word that often delays the decor plans for homeowners whether they’re re-designing a room to make it more appealing or in the finishing touches of a home renovation. In fact, the winner of the $100 Starbucks gift card from Nexus Realty's Decor contest last month was a suggestion about just that subject — the right choice when deciding on paint colours.
     
     What’s the hot colour?
 
     It depends on what the room is, of course, but also what the trend is. One major paint supplier declared the colour  of the year for 2021 is “cool blue” or, from a marketing perspective, Wild Blue Yonder. The reason that colour was chosen is because it’s “light, airy and soothing…also translucent and delicate.” It almost sounds like it could be applied to any room in the home.
     
     A recent survey of a group of prospective home buyers determined that “simple, clean and white” is the way to go. In the event that you think white is “so yesterday” then take a tip from the Pantone Institute, which calls the interior colour choice as…drum roll, please…
     
     Warm beige!

Metro Vancouver market: inventory still key

     Of all the real estate statistics involving Metro Vancouver in recent months, the one that has driven headlines these past few months is “inventory.” In recent months, the supply of homes available for sale has been lower than the demand.
     
     The just-released statistics from the Real Estate Board of Greater Vancouver echoes that situation once again.
     
     The total number of homes listed for sale on MLS® in Metro Vancouver is 9,236. That’s 29.5 per cent below the homes for sale in September 2020 (13,096), and 27.7 per cent below the 10-year average for the month. The number of homes for sale is up slightly (2.6 per cent) over August 2021.
     
     In the words of the REBGV:
     
     “This scarcity limits peoples’ purchasing options and ultimately adds upward pressure on home prices. With the federal election now behind us, we hope to see governments at all levels work with the construction industry to streamline the creation of a more abundant and diverse supply of housing options.”
     
     Overall, sales were down 13.6 per cent last month compared to the same month in 2020, but 20.8 per cent higher than the 10-year average for September.
     
     And statistics for new listings showed some promise. In August, there were 4,032 detached, attached and apartment homes newly listed. In September, there were 5,171. That’s an increase of 19.2 per cent. 
     
     “The summer trend of above-average home sales and historically typical new listings activity continued,” said the REBGV. “Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring. Home price trends will, however, vary depending on property type and neighbourhood.”
     
     The other statistical monthly indicator for what could happen with home prices is the sales-to-active-listings ratio. If it’s below 12 per cent for a sustained period, that exerts downward pressure on home prices. If it’s above 20 per cent…the pressure on prices is upward. Last month’s ratio was 34.1 per cent overall — 25.5 per cent for detached homes, 53.1 per cent for townhomes, and 36.7 per cent for apartments.
     
     So the September statistics were a bit of a mixed bag and, as always, paint an overall picture that may or may not apply in your neighbourhood.


What’s in the news this month?

B.C. even more popular for new residents:

The one-year period between June 2020 and June 2021 was the largest migration increase to B.C. in 28 years. The difference between residents moving into and out of the province during that time was 34.277, while the three other Western provinces all experience a migration decrease.

Update on Character Home project:

This unique project in the City of Vancouver is getting closer to fruition, with the design being finalized and plans being made to begin construction. There is still the possibility of presales for some of the six residences that are each so different while being on the same property — watch News From Nexus and nexusrealty.com for more updates.

Canada’s population growth slowest in a century:

Canada’s overall population increase since the pandemic began is, according to StatsCan, 0.5 per cent, the slowest growth rate since during the First World War (1915-16), and less than half the growth from 2019-20, when it was tracked at 1.2 per cent.



    "We knew we could trust them…they’re honest and have great integrity. I’ve recommended them to a lot of people. Right away, Dale gave us some valuable advice. He nicely suggested we should clean up the yard...we had lots of growth in the back. We also had trees in front. Not only did he suggest we trim them, he even came over with his saw and helped!”
  — Ron and Ethel Youngberg, 
                                        North Vancouver



505 - 2135 Argyle Ave., West Vancouver

$1,558,000














Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East compare September 2021 to September  2020
(note: sales refers to number of sales, not to sale prices).


Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.
To see more information on local stats, please click here.



     With proof of COVID-19 vaccination mandatory for entry into most public facilities, it's best to check on requirements when planning to attend any of this month's events, in the list below. If events are online, in whole or in part, every attempt has been made to identify them in the October line-up.

October 1-31
Vancouver Aquarium
NowFin-tastic Fall Days: Family fun, including the trick-or-treat maze, dress-up days and the SCOOB! 4D experience
vanaqua.org

October 1-11
Vancouver International Film Festival

A chance to enjoy the big-screen cinematic experience from the comfort of home, or mix and match to create your personal festival journey — over 80 per cent of the program available online
BC Lions at BC Place
     October 16: vs Calgary Stampeders, 4 p.m.
www.ticketmaster.ca/bc-lions-tickets

Vancouver Whitecaps at BC Place
     October 17: vs Sporting Kansas City, 7 p.m.
 
    October 27: vs Minnesota United, 7 p.m.
www.whitecapsfc.com

October 8-31
Playland at the PNE
Halloween Eves

A Halloween-themed experience including thrill rides, creepy décor, scary characters and live performances as the amusement park crawls with terrifying monsters, mutant carnivores and re-animated dolls who have breached their cages

October 14-17
Vancouver Fall Home Show at the Vancouver Convention Centre

From 4 p.m. Thursday (October 14) to 6 p.m. Sunday (October 17), the best-attended home show in North America, with workshops and displays on sustainable living, plants and crafts, hydro electric power and more (at least one vaccine dose and masks required)


October 14-November 2
Latin American Heritage Month

The richness and vitality of Latin American culture and heritage with a series of interactive events that include artistic performances, online workshops and cultural events

Until October 15
Imagine Van Gogh
Dozens of the Dutch artist’s paintings in the travelling art exhibition at the Vancouver Convention Centre
vancouversbestplaces.com/vancouver-art-exhibition

Until October 24
BC Culture Days
A month-long celebration, with a wide range of socially-distanced outdoor and pre-registered indoor workshops including art journalling, medicine pouch-making, dance and music jam sessions — and livestream events featuring visual art exhibitions, artist talks and poetry readings and an online film festival.
cultural days.ca/bc

Until October 25
Vancouver Maritime Museum

If I Lived in the Ocean

Artist Paula Nishikawara’s immersive underwater environment filled with evidence of humanity’s footprints

vanmaritime.com

Beginning October 27
Imagine Picasso

Images of over two hundred of Pablo Picasso’s paintings on display together for the first time ever, admired from a fresh perspective at the Vancouver Convention Centre

Until October 31
FlyOverCanada
HowlOverCanada: Soaring through the skies with a band of spooky sidekicks en route to a music festival that's out of this world (suitable for all ages)
flyovercanada.com 

Until October 31
Lonsdale Artisan Farmers' Market, Lonsdale Quay
Locally grown produce, delicious baked goods and crafts from local folks; every Saturday from 10 a.m. to 3 p.m.
www.artisanmarkets.ca/our-markets/lonsdale-quay-farmers-market

Until October 31
Ambleside Artisan Farmers’ Market, Ambleside Park
A great variety of organic and conventional farmers, every Sunday, 10 a.m. to 3 p.m. 

Ongoing
Bill Reid Gallery
A small but significant collection of art and archives related to Bill Reid and his legacy, with a majority of it (161 works in a variety of media from jewelry to prints and sculptures) from the Simon Fraser University Bill Reid Collection.
www.billreidgallery.ca

Until January 2
Vancouver Art Gallery
Vancouver Special: Disorientations and Echo — The second in a series of exhibitions, this one with a primary emphasis on recent works that hold a particular resonance for this time and place not been previously exhibited in Vancouver
www.vanartgallery.bc.ca

Until April 15, 2022
Gulf of Georgia Cannery — Waves of Innovation: Stories from the West Coast
An exhibit featuring stories of adaptations and innovations in the commercial fishing industry and their effects on west coast communities, with four key areas highlighted — energy, fishing, preservation and innovations of today
gulfofgeorgiacannery.or

Worldwide Webcams
A website catering to people who miss travel, visiting virtually everywhere with webcams from Argentina to Zanzibar, and many places in between.
skylinewebcams.com

Chan Centre - Virtual Stage
In order to keep patrons, artists and staff safe during the pandemic, Chan Centre performances now temporarily following the guidance provided by the BC Re-start Plan
For tickets to all current and upcoming events: tickets.

Sea To Sky Gondola
The majestic views of Howe Sound and beyond! Daily 9 a.m. to 5 p.m.
www.seatoskygondola.com

Buckingham Palace
A virtual tour of the official residence of Queen Elizabeth, the focus of many moments of national celebration — jubilees, weddings, VE Day and the annual Trooping the Colour on The Queen's official birthday
www.royal.uk/virtual-tours-buckingham-palace

Capilano Suspension Bridge
Appreciating nature from three breathtaking perspectives — Capilano Suspension Bridge, Treetops Adventure and the exciting new Cliffwalk
www.tourismvancouver.com/listings/capilano-suspension-bridge-park

BC Sports Hall of Fame and Museum
bcsportshall.com

Britannia Mine Museum
BOOM! An award-winning live action attraction inside the historic mine
www.tourismvancouver.com/listings/britannia-mine-museum

Grouse Mountain, The Peak of Vancouver
Plenty of activities for all ages when purchasing a mountain admission ticket
www.tourismvancouver.com/listings/grouse-mountain-the-peak

Virtual Tours of 12 Famous Museums
Experiencing museums from London to Seoul from the comfort of your home
www.travelandleisure.com/attractions

North Shore Events
www.vancouversnorthshore.com/events-calendar/

West Vancouver United Church
Sunday service 10 a.m.
wvuc.bc.ca/worship/

Tourism Vancouver
Virtually Vancouver, and more
www.tourismvancouver.com

Need some culture or learning in your life? 
Go to a virtual museum — you’ll find a lot of them through Google: artsandculture.google.com
Go to a virtual opera: www.metopera.org/
Visit the Science Centre: www.scienceworld.ca/ 
Nature web cams can be fun to watch: explore.org/livecams
Search for lots of free learning programs for kids and adults online.

Virtual programming at your favourite library
westvanlibrary.ca/
nvcl.ca/
nvdpl.ca/
vpl.ca/digitallibrary

Get In Touch

Dale Clark

Phone: 604-720-3353

EMAIL

Office Info

Nexus Realty Corp

West Vancouver,  BC 

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