How to qualify for a mortgage when you’re self-employed

Posted on May 10th, 2013

If you’re self-employed, you’re part of an increasing trend in the workplace. Ten years ago, only one in six Vancouver area workers was self-employed. The ratio is now one in five workers and is expected to grow to one in four by 2015. If your business is home based, you may be thinking of buying a home or trading up your current home. This means you’ll be shopping for a mortgage. To increase your chances of qualifying, you need to… Read more

Construction Industry Employment for April 2013

Posted on May 10th, 2013

Metro Vancouver employment decreased 4.1% to 98.6 thousand persons in April compared to March 2013. But, compared to April 2012 employment increased by 6.3%. Year-to-date employment was 7.8% higher than in 2013 compared to 2012. April’s Labour Force Survey from Statistics Canada was weaker than expected, but activity will pick up further into the year. That’s because 2011’s surge in building permits will  continue to generate ongoing construction work.   Construction   Industry Employment – Metro Vancouver (Thousands) Month/Month Year/Year Year-to-Date   Average Mar-13 102.8 Apr-12 92.8 Jan-Apr… Read more

Building Permits – what are they telling us?

Posted on May 10th, 2013

Building permits are typically seen as an indicator of future developments. What are building permits telling us? For the Metro Vancouver area, the total dollar value of March 2013 building permits was 14% lower at $424.0 million from $491.1 million in March, 2012. Non-residential permits dropped 31% to $97.5 million from $140.4 million one year ago. Commercial permits decreased 3%. Industrial permits increased 4%. Institutional-government permits dropped 84%. Residential permit values were 7% lower to $326.5 million from $350.7 million… Read more

Are we still weathering the economic storm?

Posted on May 7th, 2013

In the past few years, there been almost continuous bad news about the global financial crisis. The good news often gets lost amidst all the stories of doom and gloom. For example, a few years ago, major publications including the New York Times quietly reported on their back pages how Canada’s banking system and fiscal policies are helping us weather the economic storm far better than other countries worldwide. Canada’s conservative banking system has proven resilient and “is finally getting… Read more

Sing Yeo Celebrates 40 years of S.U.C.C.E.S.S.

Posted on April 23rd, 2013

Established in 1973, S.U.C.C.E.S.S. is one of the largest social service agencies in BC. It’s  the vision to create “A World of Multicultural Harmony”, S.U.C.C.E.S.S. is well supported by its mission to Build Bridges, Harvest Diversity and Foster Integration.  Sing Yeo Royal Pacific Senior VP is a key supporter and donor.  Thank you Sing for all your years of worthy work with S.U.C.C.E.S.S.    

Good news for Metro Vancouver non-residential investment in Q1 2013

Posted on April 23rd, 2013

Total non-residential investment spending increased 23.2% to $878.5 million in the first quarter compared to one year earlier in the Metro Vancouver area. Commercial building investment spending rose 21.4% to $580.1 million from $478.0 million in Q1 2012. Industrial building investment spending increased 50.4% to $60.5 million. Institutional-government spending increased 22.0% higher to $237.8 million.   Non-Residential Building   Construction Investment, Metro Vancouver Current Dollars – Millions Period Total Industrial Commercial Institutional-Government 2012 Q1 713.2 40.2 478.0 195.0 2013 Q1 878.5… Read more

Construction Employment holds in Metro Vancouver

Posted on April 10th, 2013

Construction employment in Metro Vancouver increased 8.3% to 102.8 thousand workers in March 2013 compared to employment in March 2012. Year-to-date employment was also 8.3% higher, reports Royal Pacific Realty Group vice-president and general manager Andrew Peck. “Construction employment is considered to be a good predictor of market activity,” explains Peck. The near-term outlook remains positive as a result of last year’s surge in building permits which translates into jobs in construction for several more months. The mild market correction underway in… Read more

Metro Vancouver residential building permits bring good news

Posted on April 10th, 2013

Building permits are considered to be a good predictor of market activity, according to Andrew Peck, Royal Pacific Realty Group vice president and general manager. “In February (most recent data), residential permits increased 2% to $324.7 million from $317.8 million in February 2012, which is good news,” reports Peck. Overall, however permit activity was down in Metro Vancouver by 1% $471.5 million from $473.9 million in February 2012. Non-residential permits were 6% lower to $146.9 million from $156.2 million one… Read more

Congratulations Andrew Peck, VP and General Manager, Royal Pacific Realty Group. Andrew is a CREA Director!

Posted on March 27th, 2013

Congratulations scholarship winners from Royal Pacific Realty Group

Posted on March 21st, 2013
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