The Bank of Canada once again opted to hold its target for the overnight rate at 1 per cent this morning. Interest rates have been held constant for over two years, the longest such period since the 1950s.  The Bank somewhat tempered its bias for higher future interest rates, including a softer statement regarding the appropriateness of a gradual withdrawal of monetary stimulus as excess supply in the economy is absorbed. In a bit of a surprise, the Bank actually raised its forecast for the growth in the Canadian economy this year to 2.2 per cent, but kept its 2013 forecast at 2.3 per cent growth. The Bank judges that at that pace of growth, the Canadian economy will return to full capacity by the end of 2013. 

It is our view that monetary policy at the Bank of Canada will continue to be constrained by external events in the global economy and household debt growth at home. While the Bank's preference for tighter policy is clear, it is difficult to make a case for higher interest rates when core inflation is below the Bank's 2 per cent target and already slow economic growth is threatened by global uncertainty. Therefore, we are forecasting that the Bank of Canada will hold its target overnight rate at 1 per cent until mid-to-late 2013 when, conditioned on an improved global economic outlook,  it may test the water with a 25 basis point rate increase.

BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).


Copyright British Columbia Real Estate Association. Reprinted with permission.


BCREA makes no guarantees as to the accuracy or completeness of this information. 



Vancouver Home + Design Show

Another day, another dollar? In this case, it’s another day to the Vancouver Home + Design Show, another fantastic savings offer!  Go to here to receive $3 off regular adult admission. It’s your last chance to save!

From expert advice to trendy inspiration and this season’s must-have products, get everything you need to live your life stylishly on Style Friday at the Vancouver Home + Design Show on October 12, 2012. Here’s a sneak peek!

Fashionistas, take note! The city’s best-known bloggers-turned-models will cut a fine figure on Friday, October 12 as Park Royal presents the season’s sartorial must-haves, complete with coveted gift bags and a shopping spree giveaway. Hosts Riaz Meghji and Dawn Chubai of Citytv’s Breakfast Television will take hosting duties, while the creative minds behind blogs including Stylestruck, To Vogue or Bust, Little Fashionisto, Her Waise Choice and Prairie Girl in the City parade ensembles tailored to their personal style on the HGTV Main Stage. Best clear those closets sooner than later.

Celebrity stylist and lifestyle expertJanette Ewen is a modern-day media maven. In addition to past stints at Chatelaine and Canadian House & Home, Janette appears regularly on Citytv’s Cityline andBreakfast Television, co-hosted W Network’s Inside the Box with Ty Pennington and boasts more than 69,000 Twitter followers. Her is a staple among style tastemakers and was recently featured in the pages of InStyle. Best described as narrative, multi-dimensional and slightly mysterious, Janette’s style is coveted by homeowners and fashionistas alike across the continent. 

We’re thrilled she’s making a return appearance to the Vancouver Home + Design Show this fall, where she’s set to spill her secrets on how to think and decorate like a professional designer, utilizing industry insight learned from celebrities like Ty Pennington, Debbie Travis and others! Here’s a sneak peek at Janette’s favourite easy decor updates:

Why not wallpaper your ceiling? The look is fresh, quirky and really finishes a room off. Your ceiling is actually your 5th wall and making it a feature shows design confidence and great style!

Give simple bookcases a luxe look by lining the back of the shelves with wallpaper. Pattern always looks chic! Use double-sided tape to attach the wallpaper and swap it when your tastes change.

Update old accessories with glossy spray paint. Try using bold colours like lime green or cherry red for extra punch!

Bring pattern into your kitchen with a wallpapered backsplash. Have a piece of plexi or glass cut to cover the wallpaper. Wallpaper is less expensive than most tiles and often looks more current.

If you missed Janette’s exclusive Design Through the Decades fashion and decor exhibit at Park Royal this summer, don’t fret! The popular collection of past and present trends will make an encore appearance at the Vancouver Home + Design Show this fall. For more easy style tips, catch Janette live on the HGTV Main Stage on Friday, October 12 at 3PM, Saturday, October 13 at 6PM and Sunday, October 14 at 1PM.

Shopaholics will meet their match in the form of two popular features at the Vancouver Home + Design Show: Portobello West and SHOP Art. Fill your boots – here’s the info you need to shop ‘til you drop!

Portobello West
Inspired by London’s world-famous street market, Portobello West is Vancouver’s best-known fashion and art market. A selection of top emerging talent will showcase their wares in a special pop-up edition, with enticing opportunities to increase the inventory of any closet, jewellery box or art collection. Shopping local has never looked so good.

Bare walls will meet their match at this curated exhibit of affordable artwork from Vancouver’s most talented up-and-coming artists. With everything from post-modern prints to cubist canvases, there’s a style and size to suit everyone’s fancy and budget. Works of art, indeed.

Free Design Consultation from The Indoor Outdoor Guy Design Build Team!

Bring your ideas, plans, and photos for a free design consultation with the Indoor Outdoor Guy design build team. From additions, custom home design and exterior curb appeal renovations to character house restorations, laneway homes, and landscape design, we’ve got you covered! Each consultation is limited to 45 minutes. Click here to book your free design consultation now. Don't forget to see us at the show in booth #1114.







Please note that Bryan Baeumler is now appearing at the Vancouver Home + Design Show only on Friday, October 12, with presentations on the HGTV Main Stage at 2PM & 6PM. Be sure to snag an autograph at the Vancouver Sun booth starting right at 3PM!

Click here to see a special video message from Bryan!



Brand new listing!

Beautiful 2 bed and 2 bath at Macpherson Walk in Burnaby. Only 3 years old and shows like brand new. Large open space with walk up patio, gas BBQ hookup & amenities galore! Click here or contact
Kelly Golby Real Estate Services at 604-218-5504 for more details.

Tweet us with hashtag #VHDS12and you could win! Sound off for your chance to win tickets to the show, exhibitor prizing and more.






BC Commercial leading indicator points to strong growth ahead

The BCREA Commercial L eading I ndicator (CLI ) continued to trend higher in the second quarter
of 2012, rising 0.8 points to 112.6 from a revised level of 111.8 in the first quarter. On a year-over-year basis, the CLI is now 3.7 per cent above its level in the second quarter of 2011.

“The trend in the CLI continues to signal strong growth in the BC commercial real estate market,”
said Brendon Ogmundson, BCREA Economist. “The CLI’s trend has continued with a steep rise
from early 2011, reflecting a
pick-up in employment numbers
as well as calmer financial
market conditions.”
This quarter’s increase in
the CLI was driven entirely by
the employment and financial
components of the index while
some economic activity measure,
such as retail sales, have
trended lower.
“As global economic fears
quiet down and the BC economy
continues to produce stronger
job growth, we expect to
see improvements in economic
activity,” added Ogmundson.
To view the full BCREA Commercial Leading Indicator index, visit


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