Vancouver Market Overview with Nicola Wealth

The Vancouver Life Real Estate Podcast

This week we sat down with Ethan Astaneh from Nicola Wealth, an independent wealth management firm dedicated to serving the complex needs of high-net-worth individuals, families, and institutions. The firm services clients across Canada and has amassed a $14 Billion dollar portfolio - a considerable portion of which is invested in real estate.

In this episode, we discuss the Canadian residential real estate market and dive into a number of different topics from the performance of each asset class to the impacts of higher interest rates and the shortage of supply.
We examine key metrics and consider each housing types position on the market. We look at condos, townhouses, and detached houses across the GVRD and
discuss whether they sit in a buyers' or sellers' market. We also take a deep dive and explore the impact of rising interest rates on the market and how it has affected different housing types, including data on building permits and housing starts.
We also consider current mortgage rates and the potential wave of renewals at higher rates in the next 2-3 years due to low-rate debt taken on throughout the pandemic and their impact on affordability, inflation and rental rates.
Diving into Vancouver's multiplex plan, which was announced in the Spring of 2023, we discuss its purpose, the implementation phase and what it could mean for single family home owners in Vancouver.When markets shift, so does the psychology behind residential real estate. We unpack the sentiment in the market place, what buyers and sellers are considering in today’s marketplace. Finally, we end the episode by identifying key opportunities and risks over the next 6-12 months as we navigate the current market dynamics.

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