BCREA ECONOMICS NOW

Consumer Price Index - January 25, 2013

Canadian consumer price inflation remained subdued in December with prices rising just 0.8 per cent, the same increase that was registered in November.  The Bank of Canada's core inflation index, which excludes the eight most volatile components of the CPI like energy and food, rose just 1.1 per cent year-over-year in December, a moderate deceleration from November.  Inflation in BC registered only 0.4 per cent year-over-year.

Core inflation continues to trend well below the Bank of Canada's two per cent target rate which suggests that the Canadian economy is still operating with a substantial amount of excess supply. Very low inflation no doubt contributed to the Bank's easing of its rate tightening bias earlier this week, pushing a potential increase in interest rates from 2013 into 2014.

Copyright British Columbia Real Estate Association. Reprinted with permission

 By Dave Lynn 

Bank of Canada Interest Rate Announcement - January 23, 2013

It may be a new year but it is the same story this morning from the Bank of Canada which once again held its target for the overnight rate at 1 per cent. The statement released in support of the interest rate decision noted that the global economic outlook is weaker than the Bank previously projected, though risk of a severe external shock to the economy has diminished. As a result, the slowdown in the Canadian economy in the second half of 2012 was more pronounced than the Bank had anticipated. The Bank has revised its estimate for economic growth in 2012 lower, to 1.9 per cent, and now forecasts 2 per cent growth in 2013 before an acceleration to 2.7 per cent in 2014. Importantly, the Bank has also shifted its expectation that the economy will reach full capacity out to the second half of 2014. On inflation, the Bank expects growth in consumer prices to run significantly below its 2 per cent target for much of 2013 before gradually rising to target in 2014.

Following two years of overly optimistic forecasts, the Bank has struck a slightly more dour tone in its outlook. The gloomier growth forecast and positive signs that households are reigning in household debt have prompted the Bank to revise its language on the gradual withdrawal of monetary stimulus.  In its concluding statement accompanying the rate decision, a key focus of monetary policy watchers over the past year,  the Bank continued to note that a withdrawal of stimulus would likely be required over time, but that the timing of any such withdrawal is less imminent than previously anticipated. This strongly suggests that interest rates will remain constant at 1 per cent for all of 2013.

 By Dave Lynn 

Today's my 5 year anniversary of being a Real Estate Agent!
I'm so lucky to have a job which allows me to meet and work with so many awesome people and help them with one of the biggest moments in their lives. I look forward to helping many more!

We are proud to announce that this Jan 13th, 1:00 PM to 3:00 PM we will be hosting an Open House at 1851 Barrett Dr in the Dean Park neighborhood, North Saanich. This is an opportunity to visit this excellent House for sale in beautiful Dean Park.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Dean Park House for sale.

As always please do not hesitate to give me a call at 250-592-4422 if I can answer any questions before the open house, or if you would like to book a private showing.

 By Dave Lynn
 Royal Lepage Coast Capital
 Realty - Oak Bay

I just finished uploading this House for sale, 1851 Barrett Dr, North Saanich, British Columbia

Located on a beautifully landscaped lot overlooked by covered decks, this custom designed home features main floor living with extra bedrooms up and a large high ceiling basement, ideal for further development. This great floor plan offers main floor family room, office, large master bedroom and roomy kitchen with eating area. Efficiently heated with a heat pump which gives you cooling on those warm days as well. The oversized double garage has an extra height door to fit your RV or boat and, for the gardener, there is a deer fenced garden. Priced to sell, so don?t miss this opportunity. Give Dave a call.

 By Dave Lynn 

I just sold this House at 2380 Queenswood Dr, Victoria, BC Queenswood.

View this recently sold House or see all my home sales

 By Dave Lynn 

I just finished uploading this House for sale, 6520 Torin Rd, Central Saanich, British Columbia

Brentwood Bay premier Garden Gates Estates is within reach, financially! Fabulous price for this well maintained hillside rancher with full walk-out basement. A low maintenance 1 acre parcel provides privacy without being onerous & offers 2 west facing sundecks, ample room for cars, boats, RV's and even a purpose-built $50,000 sports court! All rooms are generous in size with almost 2400 sq.ft. of living space per floor. The main floor is fully self contained/ wheelchair friendly while the full height lower level offers excellent versatility with an expandable 1 bedroom suite (to 2 plus den-needs a door), huge rec room with a walk-out patio and a deluxe media room for family entertainment.

I just sold this House at 2380 Queenswood Dr, Saanich East, British Columbia SE Queenswood.

View this recently sold House or see all my home sales

I just sold this House at 2254 Graduation Pl, Victoria, BC Gordon Head.

View this recently sold House or see all my home sales

 By Dave Lynn 

Wow! Congratulations everyone involved in this year's Royal LePage National Sales Conference. With everyones effort
and event a record $100,000 was raised for the shelter foundation. Way to go!

Read the REM Article 

Here's a new presentation we put together for my listing near Buchart Gardens in Garden Gate Estates

 By Dave Lynn

Please note the change for this upcoming openhouse.

We are proud to announce that this Oct 14th, 2:00 PM to 4:00 PM we will be hosting an Open House at 2380 Queenswood Dr in the Queenswood neighborhood, Victoria. This is an opportunity to visit this excellent House for sale in beautiful Queenswood.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Queenswood House for sale.

As always please do not hesitate to give me a call at 250-592-4422 if I can answer any questions before the open house, or if you would like to book a private showing.

 By Dave Lynn
 Royal Lepage Coast Capital
 Realty - Oak Bay

I just finished uploading this House for sale, 3635 Vitality Rd, Langford, British Columbia

Open House Sept 9th Sunday 2-4pm Come see this beautifully renovated home. Whether you?re living upstairs or down, you?ll appreciate the spacious feel and the quality upgrades. Upstairs has 4 bedrooms and 2 bathrooms including an en-suite. Downstairs has 2-3 bedrooms, with a separate laundry hook-up. The lower level is perfect for in-laws. Well laid out with a level entrance, full ceiling height and an impressively large kitchen. The insulated garage is powered and plumbed, ideal for the handyman. At the end of the day, you can enjoy one of your two gas fireplaces inside or your 6000 sqft property from your large deck or recently installed patio outside. Call today for a private viewing.

 By Dave Lynn 

We are proud to announce that this Sep 9th, 2:00 PM to 4:00 PM we will be hosting an Open House at 3635 Vitality Rd in the La Happy Valley neighborhood, Langford. This is an opportunity to visit this excellent House for sale in beautiful La Happy Valley.

Please come with any questions you may have. In the meantime you can take a virtual tour of this La Happy Valley House for sale.

As always please do not hesitate to give me a call at 250.592.4422 if I can answer any questions before the open house, or if you would like to book a private showing.

Tara Lynn
Royal LePage Coast Capital Realty - Oak Bay

I just finished uploading this House for sale, 6505 Torin Rd, Central Saanich, British Columbia

First time on the market for this custom built home situated in Garden Estates on a beautiful 1.09 acre lot with trees, pond, privacy and a great patio for entertaining. The 3200 sq ft home features a large master bedroom suite on the main floor as well as a generous office. The family room adjoins the country sized kitchen with access to the patio. Perfect for family gatherings. Upstairs gives you 3 more generous sized bedrooms. For all your toys, there is a double garage with attached workshop plus a separate single garage/shop and RV parking. Don?t miss viewing this exceptional package.

 By Dave Lynn 

We are proud to announce that this Jul 21st, 2:00 PM to 4:00 PM we will be hosting an Open House at 864 Swan St in the SE Swan Lake neighborhood, Saanich East. This is an opportunity to visit this excellent Townhouse for sale in beautiful SE Swan Lake.

Please come with any questions you may have. In the meantime you can take a virtual tour of this SE Swan Lake Townhouse for sale.

As always please do not hesitate to give me a call at 250.592.4422 if I can answer any questions before the open house, or if you would like to book a private showing.

Tara Lynn
Royal LePage Coast Capital Realty - Oak Bay

I just finished uploading this Townhouse for sale, 1 864 Swan St, Saanich East, British Columbia

This newly renovated town home really is a must see. Ideally located in a very quiet residential area at the end of a no through street with great views of the beautiful Swan Lake park and lake. This is a west facing end unit offering great privacy,lots of light and a wonderful deck to enjoy the lake views and evening sun. The grounds are amazing and the Galloping Goose trail is just a few steps away. Super convenient area with everything so close yet the setting is completely quiet and park like. The unit has been very tastefully updated and offers a bright open plan on the main and 3 bedrooms up including a master with good size walk in closet.

I just finished uploading this Condo for sale, 405 420 Linden Ave, Victoria, British Columbia

Great opportunity to purchase in one of Fairfield?s most desirable concrete & steel condo buildings. This bright spacious corner unit features 2 bedrooms, 2 baths, in-suite laundry and wood burning fireplace. Enjoy your coffee on one of the 2 large balconies. The quiet, well run building offers an exercise-meeting room, extra storage and secure parking. Located close to Cook St Village, Beacon Hill Park and the waterfront. Don?t miss viewing this fourth floor unit with its generous floor plan and exceptional location.

 By Dave Lynn 

I just sold this House at 2194 Bartlett Ave, Victoria, British Columbia South Oak Bay.

View this recently sold House or see all my home sales

 By Dave Lynn