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Blog by Betty Jarvis

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Canadian Retail Sales - January 23, 2015

January 23rd, 2015

BCREA ECONOMICS NOW

Canadian Retail Sales - January 23, 2015

Canadian retail sales rose 0.4 per cent in November, with 5 of 11 retail sub-sectors reporting gains.   In BC, retail sales were up 1.9 per cent on a monthly basis, and were 7 per cent higher compared to one year ago. Through 11 months of the year, retail sales in BC are up a robust 5.8 per cent,  the fastest annual rate of sales ...

Bank of Canada makes shock rate cut on oil concerns

January 21st, 2015

OTTAWA (Reuters) - In a shock move, the Bank of Canada cut its benchmark interest rate on Wednesday to counter the effects of cheaper oil on economic growth and inflation and to try to prevent financial instability that could result from a vulnerable housing market.     

Ending the longest period of unchanged rates in Canada since 1950, the central bank cut its overnight rate to 0.75 percent ...

At the Open: TSX gains, dollar sinks after Bank of Canada rate cut

January 21st, 2015

The Toronto stock market was sharply higher Wednesday amid a surprise rate cut by the Bank of Canada and increased confidence about what the European Central Bank may deliver in the form of another round of economic stimulus on Thursday.

The S&P/TSX composite index jumped 207.9 points to 14,516.31, led by a sharp rise in energy stocks as oil prices advanced.

But the surprise rate cut slamme ...

Bank of Canada Shocks Markets with Cut in Key Interest Rate

January 21st, 2015

Bank of Canada Interest Rate Decision - January 21, 2015

In a bombshell announcement this morning, the Bank of Canada announced that it is lowering its target overnight rate to 0.75 per cent. The surprise loosening of monetary policy is in response to the recent dramatic decline in oil prices and the consequent negative impact on Canadian growth and inflation. The Bank expects the Canadian e ...

BCREA Economics

January 20th, 2015

BCREA ECONOMICS NOW

Canadian Manufacturing Sales - January 20, 2015

Canadian manufacturing sales declined for the third time in four months in November, falling 1.4 per cent to $51.5 billion. Lower sales reflected weakness in motor vehicle, chemicals and food manufacturing.

In BC, where manufacturing employs over 160,000 people,  manufacturing sales fell 1.2 cent on a monthly basis, but we ...

Most Expensive Homes In B.C. 2015, According To BC Assessment

January 16th, 2015

Nine of British Columbia's top 10 priciest properties are in Vancouver, but two northwestern communities saw the biggest jump in property values, according to the annual valuations from BC Assessment released on Friday.

Lululemon founder Chip Wilson owns the province's most expensive property in Vancouver's Kitsilano neighbourhood. The 30,600 sq.-ft. home, which took five years to build on t ...

2014 Year-End Top-Tier Real Estate Report

January 15th, 2015
Sotheby’s International Realty Canada’s just-released Top-Tier Real Estate Report revealed double digit sales gains in the market for residential real estate over $1 million in Canada’s largest urban centres in 2014. Building on momentum during the first half of the year, sales in the latter six months continued to trend upward, particularly in the Greater Toronto Area (GTA) and Vancouver, wh ...

Vancouver’s “Luxury” Home Sales Keep Rocketing, Up 25%: Sotheby's

January 12th, 2015

Vancouver sees Canada’s second-biggest gain in 2014 home sales over $1 million after Toronto; sales over $4 million up 36 per cent

January 7, 2015                                            
By Joannah Connolly REW.ca            
Vancouver luxury home       
                                                            

Sales of homes over $1 million ...

Sotheby's International Realty Signifigant Sales

January 9th, 2015
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I am pleased to provide you with Volume 10/2014 of Significant SalesThis issue features top sales from various locations, beginning with a $56 million property in a spectacular new building in New York City.  Also featured are properties from a diverse range of locations including Florida, Montana, Massachusetts, Connecticut, Ontario and Texas. The strength of the Sotheby’s International R ...

Canadian and US Employment - January 9, 2015

January 9th, 2015
Employment in Canada was relatively unchanged to end
the year, falling by 4,300 jobs in December.  The national unemployment
rate remained at 6.6 per cent. Total hours worked, which is closely associated
with economic growth, increased by a relatively strong 0.7 per cent.

In BC, employment grew by 2,200 jobs in December. However, the headline number
masks an enormous shift in employment from part- ...
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