Jeffrey Qián 錢 曄 // 778-238-2014 // info@jeffreyqian.com

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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Saturday, August 17, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Sunday, August 18, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Saturday, August 10, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Sunday, August 11, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Canadian employment declined by 24,200 jobs in July with the largest decline reported in Alberta. The national decline was evenly split between full-time and part-time work, notably in private sector employment in the service sector (retail and wholesale trade). The national unemployment rate rose 0.2 percentage points to 5.7 per cent, as more people were looking for work in July.  
 
Meanwhile in BC, employment held steady for the second consecutive month in July. The unemployment rate was also little changed at 4.4 per cent.  Compared to one year ago, employment in BC is up 4.8 per cent.   
 
 
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Saturday, August 3, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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The Canadian economy expanded for a third consecutive month in May, growing 0.2 per cent on a monthly basis. The rise in GDP was the result of higher output in 13 of 20 industrial sectors, led by manufacturing, construction and transportation. Activity at offices of real estate agents and brokers jumped 4.8 per cent in May due to increased home sales in the Greater Toronto and Greater Vancouver.
 
With today's GDP report, we are tracking second quarter growth in the Canadian economy at 3 per cent, a major improvement from the sub-1 per cent growth of the first quarter.  Stronger growth and inflation at or near its 2 per cent target should keep the Bank of Canada sidelined in 2019. However, with the US Federal Reserve expected to lower its key policy rate this week, it is possible the Bank will follow suit. Either way, Canadian mortgage rates will likely remain near their current low levels for the foreseeable future. 
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Saturday, July 27, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Sunday, July 28, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Canadian retail sales declined in May by 0.1% to $51.5 billion, following a 0.2% gain in the previous month. This marks the third consecutive quarter of no growth. Retail sales were down in 4 of 11 subsectors in May, represening 39% of retail sales. The main contributor to the decline was sales at food and beverage stores. Retail sales were down in eight provinces with monthly gains only reported in Quebec (0.9%) and Ontario (0.5%).
 
In B.C., retail sales declined 0.2% from the previous month to $7.2 billion. Meanwhile, a gain of 0.9% was reported in Vancouver. Provincial sales were down in health and personal care, electronics and appliance stores, and at funiture stores. In contrast, sales were up at gas stations. On a year-over-year basis, B.C. retail sales were flat in May.
 
Although retail sales were down in May, we can expect modest growth going forward, supported by a solid labour market, wage gains and reduced borrowing costs.   
 
 
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Canadian inflation, as measured by the Consumer Price Index (CPI), rose by 2 per cent compared to the same time last year, a deceleration from 2.4 per cent in the prior month. Excluding the impact of lower energy prices, the CPI was up 2.6 per cent year-over-year. The Bank of Canada's three measures of trend inflation were also up in June, averaging a little over 2 per cent. In B.C., CPI increased by 2.6 per cent in June compared to a year ago, marking the second highest provincial gain behind Manitoba. 

With inflation sustaining above 2 per cent, the Bank of Canada will almost certainty remain on hold at its next meeting in September, particularly given a strong second quarter of real GDP growth.  The Banks decision will be complicated by a possible easing of interest rates by the US Federal Reserve, though a period of diverging monetary policy between the US and Canada remains likely. 
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Saturday, July 20, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
Please visit our Open House at 806 819 HAMILTON ST in Vancouver.
See details here
Open House on Sunday, July 21, 2019 2:00PM - 4:00PM
819 Hamilton, built by the reputable BOSA Developments, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out and well kept suite, has open kitchen flows into large living/dining area. Sunny Den connect to bedroom is a perfect space for reading/working. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, in suite storage room, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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Posted in: Downtown VW, Vancouver West Real Estate
I have listed a new property at 806 819 HAMILTON ST in Vancouver.
See details here
819 Hamilton, located in the heart of downtown, steps way from Yaletown, Robson Street, Gastown and BC Place. This well laid out suite, built by the reputable Bosa Developments, is thoughtfully fmished with high end custom built-ins throughout. The open kitchen flows into your large living/dining area. Sunny Den is a perfect reading/working space. Building amenities include a fully equipped gym and sauna making your self-care that much more convenient! In suite laundry, 1 parking, 2 storage lockers, a pro-active strata and an on-site caretaker round out this complete package. Come see for yourself! Open house Sat and Sun 2-4pm
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The British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. The average MLS® residential price in the province was $687,584, a decline of 4 per cent from June 2018. Total sales dollar volume was $4.8 billion, a 15.3 per cent decline from the same month last year.

“BC home sales moderated lower in June after a stronger showing in May,” said BCREA Deputy Chief Economist Brendon Ogmundson. “While mortgage rates offered by lenders have moved below 3 per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.”

Total MLS® residential active listings were up 18.6 per cent to 42,625 units compared to the same month last year and were essentially flat on a seasonally adjusted basis compared to May.

Year-to-date, BC residential sales dollar volume was down 23.4 per cent to $24.5 billion, compared with the same period in 2018. Residential unit sales decreased 18.7 per cent to 35,679 units, while the average MLS® residential price was down 5.8 per cent to $688,080..

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The Bank of Canada left its target for the overnight rate unchanged at 1.75 per cent this morning. In the statement accompanying the decision the Bank noted that although ongoing global trade tensions are having a negative effect on the global economy, economic growth in Canada is improving. A decline in mortgage rates is helping to stabilize housing markets still challenged by the mortgage stress test and a healthy labour market is supporting consumption growth.  The bank judges the current level of its policy rate appropriate but emphasized that it will be closely monitoring developments in the energy sector and the impact of trade conflicts.

The Canadian economy is showing signs of recovery after two consecutive quarters of sub-1 per cent growth. We are currently tracking second quarter real GDP growth at close to 3 per cent while Canadian inflation has recently bumped up above the Bank's 2 per cent target. As long as those trends hold, a rate cut by the Bank of Canada is looking less and less likely, though there may be some pressure to follow the Federal Reserve should it choose to ease monetary policy.
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Canadian employment was essentially unchanged in June after adding 27,000 jobs in May.  The unemployment rate rose 0.1 percentage points to 5.5 per cent as the number of people looking for work increased. Total Canadian employment was up by 132,000 job in the second quarter, almost all of which was in full-time work.  

In BC, employment fell by 3,700 jobs, the first monthly decline in employment since October 2018. The provincial unemployment rate rose 0.2 point higher to 4.5 per cent.  Compared to one year ago, employment in BC is up 4.4 per cent or 109,000 jobs.   
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Canadian retail sales rose in April for the third consecutive month by 0.1%, following a 1.3% gain in March (revised upwards from 1.1%). Retail spending increased to $51.5 billion, as 7 of 11 retail sub-sectors representing 74% of the sector reported higher sales. The main contributor to the increase in April was higher sales at gasoline stations. Behind the national gain were Manitoba (1.8%), Alberta (1.6%) and Ontario (0.9%).  

In B.C., retail sales declined 0.5% from the previous month to $7.2 billion. Sales were down in the clothing, health and personal care, and food and beverage sectors. In contrast, sales were up in the housing related sectors of building material and garden equipment, and furniture stores. On a year-over-year basis, B.C. retail sales were flat in April.

The soft increase to retail sales in April was within market expectations, as harsher than normal weather conditions hit most of the Eastern provinces and households are still adjusting their spending to higher interest rates. 

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Canadian inflation, as measured by the Consumer Price Index (CPI), rose by 2.4 per cent compared to the same time last year. Month-over-month, seasonally adjusted prices were up 0.3 per cent, the same gain as in the previous month. Gains were reported in all major components of the CPI, while food and transportation reported the largest increases. The Bank of Canada's three measures of trend inflation were also up in May, averaging 2 per cent. 

In B.C., CPI increased by 2.6 per cent in May compared to a year ago, marking the second highest provincial gain behind Manitoba. The increase was broad-based with the highest year-over-year gains reported in transportation (4.7 per cent), gasoline (3.9 per cent) and food (3.4 per cent).  
 
The recent acceleration in inflation could complicate the Bank of Canada's decision on interest rates given the broad-based nature of the rise. That being said, much of the recent gains have been driven by seasonal and volatile factors (e.g., inclement weather and traveller accommodations), which means we can expect the Bank to remain on the sidelines.
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Canadian housing starts surpassed market expectations with a 25% monthly increase in June to 245,657 units at a seasonally adjusted annual rate (SAAR). The trend in Canadian housing starts was up, averaging 205,838 units SAAR over the past six months, which is a robust trend. 
 
In BC, total housing starts were up by 12% on a monthly basis to 60,023 units SAAR. Compared to the same time last year, total starts were up 76%. On a monthly basis, starts of multi-units and single detached units were up by 13% and 6%, respectively.
 
Looking at census metropolitan areas in BC: 
 
Total starts in Vancouver were down by 3% in June at 41,504 units SAAR, following a 25% increase in the previous month. The decline in multi-unit starts (-3%) more than offset the increase in single detached starts (1%). Compared to last year in June, housing starts in Vancouver were up 143% driven by the multi-unit segment. 
 
In Victoria, housing starts were up by 6% on a monthly basis to 2,462 units SAAR. Compared to a year ago, housing starts are down by 59%.
 
In Kelowna, housing starts increased by 177% in June to 2,902 units SAAR, rebounding from low levels the previous month. Year-over-year, total starts were down by 19% as inventory of unsold units accumulate, constraining further new construction projects. This is the risk we outlined when the provincial speculation tax was introduced.
 
Monthly housing starts in Abbotsford-Mission were down by 55% at 806 units SAAR. However, on a year-over-year basis, new home construction was up by 46% due to strong multi-unit starts.
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