Jeff Qian
Laboutique Realty
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Posted in Queensborough, New Westminster Real Estate
New property listed in Queensborough, New Westminster

I have listed a new property at 402 220 SALTER ST in New Westminster. See details here

This rarely available penthouse offers a unique blend of modern elegance and urban charm. Featuring 2 bedrooms plus a loft (serve as the master bedroom), this residence boasts 20 ft ceilings, a stunning reclaimed brick feature wall, and an open concept kitchen equipped with quartz countertops and s/s appliances. The spacious dining/living room area provides the perfect setting for entertaining guests. The loft opens up to a magnificent 500 sqf rooftop patio, where you can enjoy mesmerizing water, mountain, and city views. With two parking stalls (one with EV charging rough-in) and one storage locker included, convenience is at your fingertips. Located steps away from the riverfront promenade and the Q2Q ferry, this penthouse offers unparalleled access to the best of New Westminster living.

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Posted in Queensborough, New Westminster Real Estate
Open House. Open House on Saturday, May 11, 2024 2:00PM - 4:00PM

Please visit our Open House at 402 220 SALTER ST in New Westminster. See details here

Open House on Saturday, May 11, 2024 2:00PM - 4:00PM

This rarely available penthouse offers a unique blend of modern elegance and urban charm. Featuring 2 bedrooms plus a loft (serve as the master bedroom), this residence boasts 20 ft ceilings, a stunning reclaimed brick feature wall, and an open concept kitchen equipped with quartz countertops and s/s appliances. The spacious dining/living room area provides the perfect setting for entertaining guests. The loft opens up to a magnificent 500 sqf rooftop patio, where you can enjoy mesmerizing water, mountain, and city views. With two parking stalls (one with EV charging rough-in) and one storage locker included, convenience is at your fingertips. Located steps away from the riverfront promenade and the Q2Q ferry, this penthouse offers unparalleled access to the best of New Westminster living.

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Posted in Queensborough, New Westminster Real Estate
Open House. Open House on Sunday, May 12, 2024 2:00PM - 4:00PM

Please visit our Open House at 402 220 SALTER ST in New Westminster. See details here

Open House on Sunday, May 12, 2024 2:00PM - 4:00PM

This rarely available penthouse offers a unique blend of modern elegance and urban charm. Featuring 2 bedrooms plus a loft (serve as the master bedroom), this residence boasts 20 ft ceilings, a stunning reclaimed brick feature wall, and an open concept kitchen equipped with quartz countertops and s/s appliances. The spacious dining/living room area provides the perfect setting for entertaining guests. The loft opens up to a magnificent 500 sqf rooftop patio, where you can enjoy mesmerizing water, mountain, and city views. With two parking stalls (one with EV charging rough-in) and one storage locker included, convenience is at your fingertips. Located steps away from the riverfront promenade and the Q2Q ferry, this penthouse offers unparalleled access to the best of New Westminster living.

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Posted in Coal Harbour, Vancouver West Real Estate
New property listed in Coal Harbour, Vancouver West

I have listed a new property at 555 JERVIS ST in Vancouver. See details here

Are you looking for an awesome space in Coal Harbour with parking, loads of storage, and built in Murphy bed? Well here we are! This charming 485 sq ft studio checks all the boxes. Insuite flex space plus storage. The building has an indoor gym, pool, hot tub, outdoor seating areas, lounge and rooftop deck. Walk to Stanley Park and enjoy the restaurants and shops at your door step. This home comes complete with 1 parking stall, 4 storage lockers, YES! FOUR storage lockers! and lots of visitor parking. Pets are welcome.

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Posted in Coal Harbour, Vancouver West Real Estate
Open House. Open House on Sunday, November 26, 2023 2:00PM - 4:00PM

Please visit our Open House at 208 555 JERVIS ST in Vancouver. See details here

Open House on Sunday, November 26, 2023 2:00PM - 4:00PM

Are you looking for an awesome space in Coal Harbour with parking, loads of storage, and built in Murphy bed? Well here we are! This charmming 485 sqf studio checks all the boxes. In suite flex space plus storage. The building has a gym, indoor pool, hot tub, outdoor seating areas, lounge and rooftop deck. Walk to Stanley Park and enjoy the restaurants and shops at your door step. This home comes complete with 1 parking stall, 4 storage lockers. YES! FOUR! and lots of visitor parkings. Rentals and pets are welcome.

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Posted in Coal Harbour, Vancouver West Real Estate
New property listed in Coal Harbour, Vancouver West

I have listed a new property at 208 555 JERVIS ST in Vancouver. See details here

Are you looking for an awesome space in Coal Harbour with parking, loads of storage, and built in Murphy bed? Well here we are! This charmming 485 sqf studio checks all the boxes. In suite flex space plus storage. The building has a gym, indoor pool, hot tub, outdoor seating areas, lounge and rooftop deck. Walk to Stanley Park and enjoy the restaurants and shops at your door step. This home comes complete with 1 parking stall, 4 storage lockers. YES! FOUR! and lots of visitor parkings. Rentals and pets are welcome.

Read

Posted on by
Posted in Coal Harbour, Vancouver West Real Estate
Open House. Open House on Sunday, November 26, 2023 2:00PM - 4:00PM

Please visit our Open House at 208 555 JERVIS ST in Vancouver. See details here

Open House on Sunday, November 26, 2023 2:00PM - 4:00PM

Are you looking for an awesome space in Coal Harbour with parking, loads of storage, and built in Murphy bed? Well here we are! This charmming 485 sqf studio checks all the boxes. In suite flex space plus storage. The building has a gym, indoor pool, hot tub, outdoor seating areas, lounge and rooftop deck. Walk to Stanley Park and enjoy the restaurants and shops at your door step. This home comes complete with 1 parking stall, 4 storage lockers. YES! FOUR! and lots of visitor parkings. Rentals and pets are welcome.

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Canadian employment rose by 17,500 (0.1 per cent) in October. The Canadian unemployment rate jumped to 5.7 per cent, following three consecutive months at 5.5 per cent. Average hourly wages rose 4.8 per cent year-over-year to $34.08 in October, while total hours worked were up 2.1 per cent from October of last year.

Employment in BC dipped 0.1 per cent to 2.81 million, while employment in Metro Vancouver fell 0.3 per cent to 1.61 million. The unemployment rate was unchanged in both areas at 5.4 per cent in BC and 5.8 per cent in Metro Vancouver. 
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In August, for the second consecutive month, Canadian real GDP was largely unchanged. A surge in sales of machinery, equipment, and supplies led to a 2.3 per cent increase in the Wholesale trade sector. Meanwhile, oil & gas extraction rose 1 per cent on higher extractions in Western Canada while mining and quarrying rose 4.2 per cent. Manufacturing, on the other hand, fell 0.6 per cent, declining for the third consecutive month. Offices of real estate agents and brokers fell for the second consecutive month, dropping 3.8 per cent as sales softened over the late summer. Overall, Canadian real GDP is now 3.6 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy was again largely unchanged in the Canadian economy in September. 

With a flat August GDP number and September's preliminary estimate also flat, the Canadian economy is expected to have been largely unchanged since February, despite rapid population growth. Indeed, with the preliminary estimate for September, annualized third-quarter GDP is expected to contract 0.1 per cent, following a 0.2 per cent contraction in the second quarter. This would technically imply that the Canadian economy is in a shallow recession. Despite still too-hot inflation numbers, the Bank of Canada held its overnight rate steady at 5 per cent last week, giving the prior 10 rate hikes time to work through the economy. Given signs of weak growth and cooling labour markets, financial markets no longer anticipate additional rate hikes this cycle. 



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The Bank of Canada maintained its overnight rate at 5 per cent this morning. In the statement accompanying the decision, the Bank noted that there is growing evidence that higher interest rates are dampening economic activity, and it expects growth to be weak through 2024. On inflation, the Bank sees little downward momentum in its preferred measures of core inflation and expects inflation to average 3.5 per cent until the middle of next year before falling back to its 2 per cent target in 2025.  Notably, the Bank stated that it is concerned that price stability is slow and inflationary risks have increased. As such, it is prepared to still raise its policy rate further if needed. 

The combination of a slowing economy with inflation seemingly stuck in a range of 3 to 4 per cent muddies the outlook for rates over the next year, though as the Bank clearly stated, there is the possibility of more rate increases if inflation does not decline. Our bet is still that the impact of high interest rates will tip the economy at least briefly into negative territory, and that consumer spending will slow further. However, without significant progress on returning inflation to its 2 per cent target, households may be waiting longer than expected for relief on variable mortgage rates. Yields on five-year Government of Canada bonds have come down from their highs near 4.5 per cent but remain at their highest level in 15 years. Consequently, fixed mortgage rates have hit annual highs over 6 per cent, the impact of which is compounded by an increasingly punishing stress test. We expect five-year fixed mortgage rates may start to come down in early 2024 as bond markets price in future rate cuts by the Bank of Canada.  However, once the Bank lowers its policy rate back to neutral (2-3 per cent), fixed mortgage rates will settle at a level that is higher than borrowers have become accustomed to over the past decade. 
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Canadian real GDP was largely unchanged from the prior month in July, following a 0.2 per cent decrease in June. A decline in manufacturing activity (-1.5 per cent) pulled GDP downwards with lower inventory formation and the BC port strike as the major contributors. Meanwhile, as wildfires retreated in Eastern Canada, the mining and quarrying sector jumped 4.2 per cent. Offices of real estate agents and brokers fell 1.3 per cent, declining for the first time in 6 months. Overall, Canadian real GDP is now 3.6 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy edged up 0.1 per cent in August. 

July’s GDP number came in flat as anticipated, and although economic growth appears to be softening amid rising interest rates, the advanced estimate for August remains in weakly positive territory. The Bank of Canada held its overnight rate steady at 5 per cent in September, but last week’s inflation number was hotter than anticipated, causing financial markets to revise expectations. Markets now anticipate an additional rate hike before the end of the year. With the Canadian economy continuing to avoid recession, inflation at 4 per cent, and an unemployment rate still at a rather robust 5.5 per cent, an additional rate hike in October seems likely. However, the Bank will be paying close attention to CPI and employment data before the announcement on the 25th.  


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