No Home prices in Surrey and South Surrey White Rock area are appreciating. Even though there remains a lot of uncertainty related to COVID-19 and its impact on real estate prices, Surrey's housing market has shown a remarkable amount of resiliency. Based on MLS HPI it is evident that the housing prices in Surrey and South Surrey White Rock area peaked in May 2018 and then declined till the end of Dec 2019, before showing signs of price appreciation. Even during the months of March - June 2020 the House Price Index displayed modest growth, i.e, housing prices appreciated, on account of limited inventory of homes for sale. 


While home sale activity is still below long-term averages, however the Surrey home market has witnessed an increase in sales in June and July compared to the last year and the spring season. Since the begining of July 2020, several realtors in Surrey have also reported a return to multiple offers on properties and of homes selling well above their asking prices. This was likley driven by the pent up demand, low interest rate environment and buyers adapting to the saftey protocals of buying and selling during the pandemic. It is also likely that some of the demand was driven by the buyers moving from higher density neighbourhoods within the Region to the relatively less dense suburban Surrey neighbourhoods. 


Price activity within the Surrey housing market showed an upward growth, average prices of single-family detached home (+7.5), townhomes (+2.6%) and apartments (+0.5%) displayed growth compared to price levels for June 2019. Within Surrey, the benchmark price of a home (residential combined) was at $886,800 by the end of June 2020, up by 0.4% from the month before, and up 3.3% from the same month last year.


Thus home prices in Surrey have stabilized and are appreciating, as compared to some of the other municipalities in British Columbia and the Country. This is likely to make Surrey and South Surrey housing market even more desirable to homebuyers and investors. This suggests that Surrey's housing market will witness continued price growth over the rest of the year. Also, buyers will be best served by buying now rather than waiting for decline in prices which might not materialize in Surrey.

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Retail landlords are faced with a terrible choice, when it comes to retail tenants not paying rent due to fall in revenues as a result of COVID-19. The landlords can either accept the government aid package (Canada Emergency Commercial Rent Assistance program or CECRA) and take a 25% hit to rental revenues or evict non-paying tenants. 


Landlords accepting the CECRA program must offer a minimum of a 75 per cent rent reduction to small to mid-size business that have suffered at least a 70 per cent downturn in revenues for the months of April, May and June 2020. They must apply for the assistance, which will be in the form of forgivable loans to cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants. Small business tenants would cover the remainder, up to 25 per cent of the rent. In addition, businesses eligible for rent support from the federal government (CECRA) will be protected from evictions as per the B.C. government's June 1 order under the Emergency Program Act (EPA).


                                     

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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Sunday, June 18, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. Call today! for private showing. Open house 2 -4 pm, 18th June 2017
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Saturday, June 3, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. CALL today! Open House June 3rd & 4th @ 2-4 pm
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Sunday, June 4, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. CALL today! Open House June 3rd & 4th @ 2-4 pm
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I have listed a new property at 49 20881 87 AVE in Langley.
The subject property is a beautiful, move-in-ready town home located in one of the most desirable Kew Gardens complex in Walnut Grove. It is close to the Alex Hope Elementary School, Walnut Grove Secondary School, parks, shopping, rec centre, transit and many more amenities. The town home has a spacious, open concept and efficient two-floor layout (laminate-no carpets) with 9'ceilings. The master bedroom has gorgeous views of the North Shore mountains and there are two visitor parking spot in front of the unit. In addition, the house has several recent upgrades including granite counter-tops and stainless steel appliances in the kitchen, granite counter top and cabinets in the second floor common bathroom and patio cover.
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Saturday, May 27, 2017 2:00PM - 4:00PM
The subject property is a beautiful, move-in-ready town home located in one of the most desirable Kew Gardens complex in Walnut Grove. It is close to the Alex Hope Elementary School, Walnut Grove Secondary School, parks, shopping, rec centre, transit and many more amenities. The town home has a spacious, open concept and efficient two-floor layout (laminate-no carpets) with 9'ceilings. The master bedroom has gorgeous views of the North Shore mountains and there are two visitor parking spot in front of the unit. In addition, the house has several recent upgrades including granite counter-tops and stainless steel appliances in the kitchen, granite counter top and cabinets in the second floor common bathroom and patio cover.
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Sunday, May 28, 2017 2:00PM - 4:00PM
The subject property is a beautiful, move-in-ready town home located in one of the most desirable Kew Gardens complex in Walnut Grove. It is close to the Alex Hope Elementary School, Walnut Grove Secondary School, parks, shopping, rec centre, transit and many more amenities. The town home has a spacious, open concept and efficient two-floor layout (laminate-no carpets) with 9'ceilings. The master bedroom has gorgeous views of the North Shore mountains and there are two visitor parking spot in front of the unit. In addition, the house has several recent upgrades including granite counter-tops and stainless steel appliances in the kitchen, granite counter top and cabinets in the second floor common bathroom and patio cover.
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I have sold a property at 447 CONFIDENTIAL in White Rock.
A very established produce and grocery business. The business operates on a high traffic frontage, 2940 SF lead retail unit a multi-tenanted shopping centre in the heart of WHITEROCK's commercial centre on Johnston Road. In addition to the prominent frontage the business benefits from excellent social media marketing and a large loyal customer base in the neighborhood like restaurants and eateries. The city of WHITEROCK is one of the most desirable municipalities in the region and has steadily attracted households with high disposable incomes and expenditure potential.
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I have listed a new property at 447 CONFIDENTIAL in White Rock.
A very established produce and grocery business. The business operates on a high traffic frontage, 2940 SF lead retail unit a multi-tenanted shopping centre in the heart of WHITEROCK's commercial centre on Johnston Road. In addition to the prominent frontage the business benefits from excellent social media marketing and a large loyal customer base in the neighborhood like restaurants and eateries. The city of WHITEROCK is one of the most desirable municipalities in the region and has steadily attracted households with high disposable incomes and expenditure potential.
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"Luxury tax" on property flippers might not be the solution to the housing affordability issues in the City of Vancouver. Most property flippers are purchasing properties from sellers with insufficient funds or inclination to carry out any mechanical, structural or cosmetic upgrades. By doing so they serve an important economic function of recycling older housing stock and providing funds to the sellers wishing to liquidate their assets.

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Home mortgage interest rates are expected to trend upwards in 2015. This is primarily because of the anticipated growth in the economy as well as employment during the rest of 2014. It should be noted that, in spite of stronger global and domestic economic growth in the first half of 2014 the overnight interest rates were not revised upwards (at the end of second quarter 2014) by the Bank of Canada.
 
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