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Recent surveys by Mercer and the EIU
(Economist Intelligence Unit) found that Vancouver was the 'best place in
the world to live'. It is not hard to see why
in summer, Vancouverites take advantage of the beautiful beaches that line
the city, or enjoy a stroll through Stanley Park, a cedar forest at the
edge of downtown. Winter offers skiing on the nearby slopes of Grouse,
Cypress and Seymour Mountains. Sailing, hiking, running, biking, blading
are all additional activities that can be enjoyed in and around the city.
A vibrant, lively, multi-cultural city with great shopping, restaurants,
cafes and entertainment. Its selection as the host for the 2010 Winter
Olympics has only enhanced Vancouver as a top destination for investment,
retirement, immigration and holiday homes. Economical Trend
The composition of BC's population has
changed a lot. It's no longer mainly comprised of young men, as it was a
hundred years ago. The percentage of males and females living in BC has
been roughly equal since the 1960s. The population is also older: less
than 40% of British Columbians are currently under the age of thirty, and
one in four are fifty-five or older. British Columbia's cultural mosaic is
also shifting. In recent years, immigration, especially from Asia, has
been a major source of population growth, and the Vancouver area, along
with other parts of the province, is becoming more diverse. As the face of the province's population
and its cities has changed, so too has the provincial economy. A variety
of new types of goods and services are being made available to meet the
needs of an increasingly multicultural population. Technological and
cultural changes have also had a big effect, as have changes in the way
companies do business. BC's economy has been maturing into a
more diverse, less resource-dependent structure. We're no longer “hewers
of wood and drawers of water” for the rest of the country or indeed, for
the world. Primary goods production is giving way to a greater emphasis on
value-added manufacturing as well as other types of goods and services
production. Forestry, mining, fishing and
agriculture are still important, especially in communities where they are
big employers, but they are no longer the dominant force in BC's economy.
Since the mid-1990s, there have been fewer people working in these
industries than in other types of goods production. At present, only nine percent of BC
workers have jobs in resource harvesting and extracting industries such as
agriculture, fishing, forestry and mining. That's down from about 13% in
1990. Employment in other types of goods production has picked up in
recent years after declining during the 1990s, and accounts for about 12%
of all the jobs in the province For the complete news release, including
detailed statistics, follow this link:
www.bcrea.bc.ca/news_room/2010-02.pdf.
For immediate release February Home Sales Strong Despite
Olympic Fervor
Vancouver, BC – March 11, 2010. The
British Columbia Real Estate Association (BCREA)
reports that Multiple Listing Service® (MLS®) residential sales
in the province climbed 63 per cent to 5,955 units in February
compared to the same month last year. On a seasonally adjusted
basis, MLS® residential unit sales in the province declined 13
per cent compared to January 2010.
The BC residential sales dollar volume
increased 91 per cent to $2.96 billion in February compared to
the same period last year. The average MLS® residential price
climbed 17 per cent to $497,807 over the same period. "Low mortgage
interest rates are continuing to underpin consumer demand and
fuel first-time homebuyer activity,” added Muir. “Improving
economic conditions are expected to bolster consumer confidence
over the coming months.” -30-
F
BC
Home Sales Moderate in January
Vancouver, BC – February 11, 2010. The
British Columbia Real Estate Association (BCREA) reports
that Multiple Listing Service® (MLS®) residential sales in the province
climbed 118 per cent to 4,619 units in January compared to the same
month last year. On a seasonally adjusted basis, MLS® residential sales
in the province declined 16 per cent last month compared to December
2009.
The BC residential sales dollar volume increased 160
per cent to $2.27 billion in January compared to the same period last
year. The average MLS® residential price climbed 19 per cent to $491,571
over the same period. "Upward pressure on
home prices, particularly in Victoria, Vancouver and the Fraser Valley,
is beginning to slow as fewer home sales and a larger inventory reduce
the chance of multiple offers,” added Muir.
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