Jacky and I wanted to wish all of you all the best in 2024, financially and of course the most important, good health.
We expect real estate to get into full-swing over coming weeks and there’s going to be a couple important changes in the coming year. There’s a lot of talk in the news about the possibility of cuts to the currently higher interest rates. This will make it more affordable for those planning an upgrade. Also, with lower interest rates we’ll see more activity with people buying investment properties and new construction. With more listings available, even a move such as downsizing will be easier.
Also, BC’s new housing regulations are set to increase density and allow for more homes to be built. Now, 4 units or more can be built on a single lot, depending on their size, previously zoned for duplexes or single family homes This will likely spur activity in the market and eventually we’ll see more new housing types available for buyers, such laneway homes, townhouses and duplexes.
If you’re planning on buying or selling real estate this year, don’t hesitate to reach out to Jacky or myself, we’re always happy to hear from you. We look forward to helping with your real estate in 2024. Enjoy the rent of your day!