Articles tagged with "Forecast"

Apartment-building sales in Metro Vancouver saw a significant decline in the first half of the year, primarily driven by a drop in suburban property transactions. The dollar volume decreased by 40%, with the number of transactions falling 46%. Notably, sales by non-profit and government buyers declined, contributing to the downturn. However, new construction represented 64% of the total sales volume, and a rebound is anticipated in the second half of the year.

Bird Construction Inc. is acquiring Fraser River Pile & Dredge (FRPD) for an estimated $82.3 million, aiming to finalize the deal in early Q4 of 2025, subject to regulatory approvals. Fraser River Pile & Dredge, established in 1911 and based in New Westminster, B.C., specializes in marine construction, land foundation, and dredging, providing its services across Canada. This acquisition adds unique self-perform capabilities to Bird's portfolio, enhancing its ability to undertake larger projects nationwide. The merger is seen as a significant step forward in the growth strategies of both companies.

The article discusses the top 10 pre-bid construction projects in British Columbia as of September 2025, ranked by project value. It offers a glimpse into major upcoming projects, with one of the highlights being the Ksi Lisims LNG Project, which involves site work and the construction of a new industrial development. Readers are encouraged to explore further details or investigate other projects in Canada and the US through provided links.

The Government of British Columbia has announced a rent increase cap of 2.3% for 2026, tying it to inflation. This decision is meant to make housing more affordable while allowing landlords to maintain their properties. The cap, one of the lowest in decades, aims to protect tenants from unfair hikes amid economic uncertainty. The government also highlights other measures to support renters, such as a rental assistance program and interest-free loans for those facing financial difficulties.

Canadian startup General Fusion has secured $22 million in funding to continue its work on nuclear fusion technology after facing financial struggles earlier this year. The company aims to achieve scientific breakeven by 2026 using its LM26 prototype, which is developing magnetized target fusion. The new funds will assist in reaching intermediary milestones and integrating data into designs for the next machine in the UK. General Fusion aspires to bring commercial fusion energy to the grid in the 2030s.

Apartment-condo sales in Metro Vancouver decreased by 2.9% in July compared to the previous year, with 1,158 units sold. The overall residential sales also declined by 2% year-over-year. The benchmark price for an apartment dropped to $743,700, showing a 3.2% decrease from the prior year. Although housing inventory remains stable, a potential acceleration in sales activity might shift the market conditions in favor of sellers.

The industrial vacancy rate in Greater Vancouver reached 3.1% by mid-2025, the highest in a decade, following a steady increase since 2021. Leasing activity slowed due to potential U.S. tariffs, influencing industrial investments, with Maple Ridge-Pitt Meadows having the highest vacancy rate at 4.2%. Sublease availability hit a record high, while industrial sales saw a significant decrease, marking the weakest first half since at least 2015.

A mall owner criticizes B.C. billionaire Liu's plan for the Bay properties, stating it lacks commercial viability. The owner argues Liu, despite owning three shopping centers in B.C., does not have a recognized brand or experienced retail staff. This skepticism arises from Liu's limited track record in the retail sector. The tension highlights challenges faced by new entrants in the competitive retail real estate market.

The Greater Vancouver real estate market is showing signs of recovery after a downturn, with sales increasing and reaching a more balanced state, according to recent data from Greater Vancouver Realtors. In July, home sales were 13.9% below the 10-year average but better than previous months, while new listings exceeded last year’s numbers. The market is in a balanced state, not strongly favoring buyers or sellers, and home prices are trending downward. The Bank of Canada holding its interest rate steady is seen as a positive factor for market stability amid ongoing trade tensions with the USA.

WorkSafeBC has announced that the preliminary average base premium rate for 2026 will remain unchanged at $1.55 per $100 of assessable payroll. This rate has been consistent for nine years, allowing the agency to return surplus funds to employers due to strong financial performance. Approximately $570 million will be returned in 2026 through reduced rates, and changes in industry rates will see 39% of employers experiencing decreases, while 47% will see increases. The final rates will be approved in November by the board.

The article highlights the top 10 multi-residential projects in Canada by project value for July 2025. It includes notable developments like the Garibaldi at Squamish Ski Resort, which involves site work, paving, and new construction of a mixed-use complex. The piece serves as a guide for industry professionals interested in tracking upcoming significant projects across Canada.

Vancouver's shift to multiplex zoning is seeing significant success with a third of recent residential land sales being for these new building types. The city made a strategic move in 2023 to rezone areas previously designated for single-family homes to allow multiplexes, which offer a more affordable and quicker alternative for developers. This has attracted both small and mid-size developers, seeing it as a profitable and efficient option amid high construction costs. The trend is expected to potentially spread to other Canadian cities, encouraged by policy changes and investments in prefabrication.