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Another Round of Interest Rate Cuts It appears that the mortgage war is back on; BMO just slashed its 5-year fixed mortgage rate to 2.79% from 2.99%.  The other banks are sure to follow suit. This despite the fact that Canada’s hottest markets are considered to be overvalued by up to 30%. See this Globe and Mail article for more info. What does this mean for […]
Life in the "Knife" New Cabin Lots Coming This Summer In the Legislative Assembly yesterday, Minister of Lands, Robert C. McLeod, announced a summer 2015 ballot draw for 22 new cabin lots on lakes adjacent to the Ingraham Trail.  For all the details, see the press release here. Not much info is available at this time, but more will be coming on May 1.  
Education and Advocacy What Can Yellowknife Condo Buyers Learn From Toronto? Although it may seem challenging to find similarities between Yellowknife and Toronto, a recent study by Toronto company Condos.ca provides a lot of useful information for Yellowknife condo buyers. The study, entitled Toronto Condo Maintenance Fees: Facts, Stats and Myths, is the result of a ten-year citywide analysis of condos sold through the Toronto Multi-Listing Service (MLS). […]
Life in the "Knife" Grace Lake South Update We’ve been fielding a lot of questions lately about the timeline for the sale of Grace Lake South lots.  Earlier today we received the following update from Jeff Humble, Director of Planning and Development at the City of Yellowknife: “Public Works is working on the road profile which will provide the basis for the layout […]
For Renters Vacancy Rate Tightens Slightly in Fall 2014 After 3 straight years of increases, Yellowknife’s vacancy rate declined to 4.8% in the fall of 2014 according to the CMHC.  This dip of 0.5% still leaves renters with lots of options and shouldn’t have much of an impact on rents.  To put things in perspective, our average vacancy rate from 2007 to 2011 was 1.57% It is interesting to […]
Yellowknife Resale Condo Prices Down 18% in 2013 This morning CMHC released its annual Northern Housing Report, on the heels of Wednesday’s release of the Rental Market Statistics report.  For the full report, go here.  It brings good news on the housing starts and vacancy rate fronts, but bad news for owners of older condominiums.  In 2013 resale condo prices were down 18% […]
Market Analysis Yellowknife Vacancy Rate Eases to 5.3% The CMHC released its bi-annual rental market statistics report this morning and it brings good news for Yellowknife renters.  The vacancy rate in townhomes and apartments has eased to 5.3%, a rate that we haven’t seen since the fall of 2009 – and then only briefly.  This marks the sixth straight reporting period with increasing […]
CMHC 2013 Northern Housing Outlook CMHC’s new Northern Housing Outlook report was released today.  Lots of great information in here for Yellowknife home buyers, sellers, builders and even renters.  You’ll note that the report predicts rising rental vacancy.  This is great news for renters. Go to this link for the report: http://www.cmhc-schl.gc.ca/odpub/esub/65446/65446_2013_A01.pdf  
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For Renters Are Vacancy Rates on the Rise in Yellowknife? As most Yellowknife renters know, the apartment vacancy rate in our city tends to be very low.  In the spring of 2011 it dipped as low as 0.7%.  It real terms this meant that of the 2,119 rental apartments and town houses in Yellowknife, only 14 were vacant at the time of the spring 2011 […]

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