Bank of Canada - overnight rate remains unchanged. BCREA projects increase as of early 2013.

Today the BCREA - BC Real Estate Association - published a news release about the latest meeting of the Bank of Canada.  The most important points are
- overnight rate remains unchanged at 1%
- economic growth as projected by the Bank of Canada is 2.1% this year and 2.3% in 2013
- inflation will be close to 2%

The economists of the BCREA expect that the overnight rate is likely to be increased as of early 2013.

If an increase in interest rates would indeed take place starting early next year, now and the next few months may be the better time to buy the Vancouver condo or Vancouver house you were thinking of.

MADDOX DOWNTOWN - New development by Cressey

Cressey has announced it will launch this spring a 32 storey building at the corner of Howe and Drake. MADDOX will be close to two other Cressey developments: ELAN @ 1255 Seymour (completion 2006) and DONOVAN @ 1055 Richards (completion 2008/2009) which both have luxurious finishes.

The MADDOX condos will range in size from 498 to 1,576 sq ft.

Are you interested in buying a condo in this development? Contact me and I will keep you informed of the progress and assist you in selecting the condo that meets your requirements best whether you are looking for a home for yourself or an investment property.

To view a map with the location of new and newer buildings go to http://www.vancouvercondos-net

KITS360 - new affordable development on Fairview/Kits border

Just announced. Previews to start in March. Location: 1777 W 7th, Fairview - close to Burrard and transit Developer: Intergulf Development Group Construction: concrete, outdoor space with units, stone counters, laminate flooring, stainless steel appliances. Views: False Creek, English Bay, Downtown, Northshore mountains Price: starting from $349,900 Please contact me at 604 926 3936 if you like to receive more information about these or any other properties. Information as provided by the developer's representative. http://www.vancouver-condos.net