The Canada Mortgage and Housing Corporation (CMHC) is predicting that home prices could return to the peak levels seen in early 2022 by next year, with the potential to reach new highs by 2026. This projection comes amidst concerns about home affordability, which are expected to persist over the next three years.

According to CMHC's latest housing market forecast, the combination of falling mortgage rates and Canada's highest population growth since the 1950s is likely to stimulate a recovery in both home sales and prices. Over the past two years, home sales dropped by approximately one-third from their peak in early 2021, and prices fell by nearly 15%. However, the outlook suggests that as mortgage rates decrease and economic uncertainties ease in late 2024, buyer activity will increase.

The report indicates that the rebound in the housing market will be fueled by a shift in demand towards more affordable homes and various regional markets across Canada. Although sales activity is expected to surpass the average of the past decade from 2025 to 2026, it will remain below the record levels seen between 2020 and 2021 due to the high cost of housing.

Last year's data revealed that construction commenced on 137,915 new units across Canada’s six largest cities, aligning with the levels observed in recent years due to a surge in new apartment developments. Despite this increase, CMHC projects that rental housing supply will not keep pace with demand, leading to higher rents and lower vacancy rates in the coming years.

Bob Dugan, CMHC’s chief economist, noted that unfavorable financing conditions could hinder new rental projects in 2024. Michael Mak, another CMHC economist, highlighted that while many rental projects are approved, construction delays due to labor shortages are affecting the timeline. Nonetheless, a significant number of rental units currently under construction are expected to be completed within the next one to three years, providing a much-needed boost to the rental market.

Regionally, CMHC anticipates that Ontario and British Columbia will see a decrease in housing starts this year, with developers facing challenges such as high financing costs. Conversely, the Prairie provinces are expected to perform well, driven by affordable home prices and a strong economic outlook that should attract both homebuyers and job seekers.

In Quebec, housing starts are predicted to grow but will remain below post-pandemic levels following a decline last year. The Atlantic region is expected to experience less pressure on new home construction due to a slowdown in migration, with new starts aligning more closely with the slower population growth.

B.C. Housing Minister Ravi Kahlon expressed confidence that the province will exceed CMHC’s housing start projections and continue to lead the country in per capita housing starts. He emphasized that the projections are based on current conditions and do not account for ongoing government actions that may impact the market.

Overall, the real estate landscape in Canada is poised for significant changes, with varying impacts across regions and market segments. Stay informed and prepared to navigate these evolving trends in the coming years.

The long-awaited mat designed to even out the uneven planks along the White Rock pier is officially being installed today.

Last month, the city council approved funding for this special mat, which aims to enhance accessibility for individuals with mobility challenges. While the mat won't completely eliminate the bumps, it significantly improves the smoothness of the ride, making it much more enjoyable and less stressful, as noted by Bains.

Susan Bains, an accessibility advocate, initiated the push for these improvements three years ago after a difficult experience on the pier in 2021. She petitioned the city for changes that August, leading to this moment.

On Tuesday, Bains visited the pier and was emotionally moved by the progress. Councilor Christopher Trevelyan, who supported the motion, mentioned that a $25,000 grant was secured to fund the project, emphasizing the importance of moving forward.

"It makes sense to me. Besides wheelchairs, we also need to consider people using scooters, walkers, and strollers," he told 1130 NewsRadio in June.

Bains expressed gratitude for the widespread support from the media and the city, which played a crucial role in making this project a reality.

As the crisp autumn air are soon to settles over South Surrey and White Rock, the region transforms into a vibrant tapestry of fall colors and family-friendly activities. Whether you're new to the area or a long-time resident, there are plenty of ways to enjoy this beautiful season. Here are some great activities to make the most of fall with your family:

### 1. Visit the South Surrey Athletic Park

The South Surrey Athletic Park is not just for sports enthusiasts; it's a fantastic spot for a family outing in the fall. The park features expansive green spaces that are perfect for a picnic amidst the changing leaves. Enjoy a leisurely walk along the trails or let the kids burn off some energy at the playground. The cooler weather makes it an ideal time for outdoor fun!

### 2. Explore the White Rock Pier and Beach

White Rock's iconic pier and beach are stunning in the fall. Take a family stroll along the pier and enjoy the breathtaking ocean views and crisp sea breeze. The fall light creates beautiful photo opportunities, so don't forget your camera. After your walk, grab a hot chocolate from one of the nearby cafes and enjoy it while watching the waves.

### 3. Check Out the Fall Farmers' Markets

Fall is the perfect time to visit local farmers' markets. South Surrey and White Rock host vibrant markets where you can find fresh, seasonal produce, homemade goods, and unique crafts. It's a great way to support local vendors and introduce your family to new flavors. Look out for pumpkins, apples, and other fall favorites to take home!

### 4. Take a Scenic Hike at the Redwood Park

Redwood Park in South Surrey offers a magical fall experience. The park's towering redwoods and lush trails create a picturesque setting for a family hike. The cooler temperatures and fallen leaves make for a pleasant and picturesque walk. It’s a great way to immerse yourself in nature and enjoy some quality family time.

### 5. Attend Local Festivals and Events

Fall is a bustling time for community events in South Surrey and White Rock. From pumpkin patches and harvest festivals to Halloween-themed activities, there's something for everyone. Keep an eye on local event listings for family-friendly festivals and activities that celebrate the season.

### 6. Visit the Semiahmoo Heritage Trail

The Semiahmoo Heritage Trail offers a scenic and educational walk through the area's history. The trail is perfect for families looking to explore the outdoors and learn more about the region’s heritage. The fall colors make the trail even more enchanting.

### 7. Enjoy a Day at the Surrey Nature Centre

The Surrey Nature Centre offers various educational programs and interactive exhibits that are perfect for kids and families. In the fall, they often host special events and workshops focusing on the changing season and local wildlife. It’s a great way to combine learning with fun.

### 8. Pick Apples and Pumpkins

Nearby farms often offer apple and pumpkin picking in the fall. It’s a fun, hands-on activity for the whole family. Choose your favorite pumpkins for carving and pick apples for making delicious fall treats like pies and cider.

### 9. Go on a Family Bike Ride

With cooler temperatures and fewer crowds, fall is a great time to explore South Surrey and White Rock by bike. There are plenty of scenic routes and trails to discover. It’s a fun way to get some exercise and enjoy the beautiful fall scenery.

### 10. Cozy Up with a Good Book

On cooler, rainy days, there’s nothing like curling up with a good book. Visit your local library or bookstore and pick out some fall-themed books to enjoy together. It’s a cozy way to spend time indoors as a family.

Fall in South Surrey and White Rock offers a wonderful blend of outdoor adventures and cozy indoor activities. Embrace the season and create lasting memories with your family while enjoying all that this beautiful region has to offer.

As autumn's crisp air settles in, it's essential to turn your attention to fall home maintenance. In Vancouver and the Fraser Valley, preparing your home for the changing weather is crucial for both preserving its condition and ensuring a smoother real estate sale. Routine maintenance and meticulous record keeping are key to maintaining and enhancing your home's value. This guide covers essential fall maintenance tasks and offers insights into common weather-related red flags on home inspection reports.

1. Inspect and Clean Gutters

Autumn leaves and debris can quickly clog gutters, leading to potential water damage or ice dams. Regularly clean your gutters to prevent water from backing up and causing damage to your roof and foundation. Well-maintained gutters not only protect your home but also demonstrate to potential buyers that the property is well cared for.

2. Check Your Roof

Inspect your roof for missing or damaged shingles and address any issues promptly. A well-maintained roof is crucial for preventing leaks and protecting your home from weather-related damage, which is an important factor for prospective buyers evaluating the property.

3. Service Your Heating System

Before temperatures drop, have your heating system serviced. Replace filters and ensure the system is operating efficiently. A functional heating system adds to your home’s comfort and appeal, demonstrating that the property is move-in ready and well maintained.

4. Seal Drafts and Insulate

Check for drafts around windows and doors, and use weatherstripping or caulking to seal any gaps. Ensure your attic and basement insulation are adequate. Good insulation improves energy efficiency, reduces utility costs, and enhances the home’s appeal to potential buyers.

5. Clean and Inspect Chimneys and Fireplaces

Schedule a professional cleaning and inspection for your fireplace or chimney. Address any creosote buildup and blockages to ensure safety and functionality. A well-maintained fireplace can be a significant selling point for buyers looking for a cozy and functional home.

6. Prepare Your Yard and Exterior

Rake leaves, trim shrubs, and clean or store outdoor furniture. Inspect and maintain exterior paint and siding to ensure they remain in good condition. A well-maintained yard and exterior improve curb appeal, making a positive impression on potential buyers.

7. Check for Water Leaks and Drainage

Inspect your plumbing for leaks and ensure that exterior drainage systems are working properly. Additionally, clean and clear perimeter drainage systems to ensure they effectively direct water away from your home. Proper drainage helps prevent water damage, which can be a red flag for buyers and affect your home’s value.

8. Test and Maintain Safety Systems

Ensure that smoke detectors and carbon monoxide detectors are functioning correctly. Regular testing and maintenance of these systems are crucial for home safety and can reassure buyers that your home is secure.

9. Review and Update Your Home’s Exterior

Assess the condition of exterior elements such as paint, siding, and decks. Address any wear and tear to prevent more significant issues later. Maintaining the exterior of your home enhances its aesthetic appeal and overall value.

10. Keep Detailed Records of Maintenance

Document all maintenance tasks and repairs. Keeping a comprehensive record of your home’s upkeep can be a valuable asset when selling, as it demonstrates to potential buyers that the property has been well cared for. This transparency can facilitate a smoother sale process and potentially increase your home’s market value.

Common Weather-Related Red Flags on Home Inspection Reports

When preparing your home for sale, it's important to be aware of common weather-related issues that might appear on a home inspection report:

- Roof Damage: Missing or damaged shingles, leaks, or signs of water intrusion can indicate poor roof condition.

- Gutter and Drainage Issues: Clogged or damaged gutters, and inadequate perimeter drainage can lead to water damage or foundation problems.

- Foundation Cracks: Cracks in the foundation or signs of water seepage can indicate drainage issues or structural concerns.

- Moisture and Mold: Evidence of mold or moisture in the basement or attic can point to inadequate insulation, ventilation issues, or water damage.

- Siding and Paint Damage: Peeling paint or damaged siding may suggest exposure to weather elements and can affect curb appeal and protection.

Conclusion

Preparing your home for fall with regular maintenance and detailed record keeping not only helps protect your property but also facilitates a smoother real estate transaction. By addressing potential weather-related issues and maintaining your home’s condition, you enhance its value and appeal to prospective buyers.

For more tips on home maintenance or to explore real estate opportunities in Vancouver and the Fraser Valley, feel free to contact us. We’re here to help you navigate every aspect of homeownership and ensure your property is in top shape for any future transactions.

South Surrey, a picturesque community located in the southern part of Surrey, British Columbia, is renowned not only for its scenic beauty but also for its exceptional educational institutions. If you're considering relocating to this area or simply looking for the best educational opportunities for your children, this guide will provide a comprehensive overview of the schools in South Surrey

1. South Surrey Schools Overview

South Surrey boasts a diverse range of schools that cater to various educational needs and preferences. From public to private institutions, the area offers top-notch facilities, dedicated staff, and a strong focus on academic and extracurricular excellence. Here’s a closer look at some of the notable schools in the region:

2. Public Schools

Semiahmoo Secondary School

Located in the heart of South Surrey, Semiahmoo Secondary is known for its strong academic programs and a wide array of extracurricular activities. The school emphasizes a holistic approach to education, offering programs in arts, sports, and technology, ensuring that students can explore their interests while receiving a solid academic foundation.

Elgin Park Secondary School

Another prominent public school, Elgin Park Secondary is celebrated for its commitment to academic excellence and student well-being. The school features specialized programs in the sciences, arts, and athletics, providing students with a well-rounded education that prepares them for future success.

Sunnyside Elementary School

For younger students, Sunnyside Elementary School offers a nurturing environment with a focus on early childhood education. The school emphasizes foundational skills in literacy and numeracy while promoting social and emotional development through a range of programs and activities.

Southridge School

Southridge is a well-regarded independent school offering a comprehensive curriculum from kindergarten through to grade 12. The school is known for its strong academic programs, commitment to character development, and a range of extracurricular opportunities. Its dedicated staff and small class sizes ensure personalized attention and a supportive learning environment.

3. Private Schools

White Rock Christian Academy

Located just a short distance from South Surrey, White Rock Christian Academy offers a faith-based education with a strong emphasis on academic excellence and character development. The school provides a broad curriculum that includes arts, sciences, and athletics, all within a supportive and values-driven environment.

Grandview Heights Secondary School

This private institution is known for its modern facilities and innovative approach to education. Grandview Heights focuses on preparing students for higher education and future careers through a range of advanced programs and enrichment opportunities.

4. Specialty Programs

South Surrey also offers several schools with specialized programs to cater to unique educational needs and interests. For instance, the Surrey School District’s Options Program provides alternative education settings and supports for students who thrive in non-traditional environments

 5. Community Involvement

Many schools in South Surrey actively engage with the community, offering programs that extend beyond the classroom. From parent-teacher associations to local community projects, these schools foster a collaborative environment where education and community involvement go hand in hand.

6. Choosing the Right School

When selecting a school in South Surrey, consider factors such as the curriculum, extracurricular opportunities, and the school’s philosophy. Visiting schools, speaking with staff and parents, and exploring the facilities can help you make an informed decision that best suits your child’s needs and interests.

Conclusion

South Surrey’s educational landscape offers a range of options for families seeking quality education. Whether you’re looking for public or private institutions, the area is home to schools that provide outstanding academic and extracurricular programs. By exploring the schools available, you can find the perfect fit for your child’s educational journey and ensure they have a bright and successful future.

For more information about South Surrey schools or to explore real estate opportunities in the area, feel free to reach out to us. We’re here to help you find the best home and school for your family.

### Fraser Valley Sees Cool Summer Market with Second Slowest July Sales in a Decade

SURREY, BC – The Fraser Valley housing market is gradually becoming more favorable for buyers due to slow seasonally-adjusted sales and increasing inventory.

In July, the Fraser Valley Real Estate Board reported 1,230 sales, a 7% decline from the previous month and a 26% decrease compared to the 10-year seasonal average.

Active listings in the Fraser Valley hit a 10-year seasonally adjusted high of 8,731 in July, marking a 5% increase over June and a 41% rise compared to July 2023.

"Despite an overall balanced market, some REALTORS® are observing buyer-favorable conditions in certain areas of the Fraser Valley, where prices have dropped," said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. "This is reflected in the increased time buyers have to view properties before making offers. Well-priced properties are selling quickly, indicating that motivated buyers are still active despite the market slowdown."

New listings in July remained nearly unchanged from June, decreasing by less than half a per cent to 3,412. With a sales-to-active listings ratio of 14%, the market is considered balanced. A balanced market typically has a ratio between 12% and 20%.

"Even with consecutive policy rate cuts by the Bank of Canada, many first-time homebuyers are facing difficult market conditions due to high interest rates, the mortgage stress test, and the need for a significant down payment," said FVREB CEO, Baldev Gill. "We recommend that anyone looking to buy or sell consult with a professional REALTOR® who can navigate the current market conditions effectively."

In July, single-family detached homes in the Fraser Valley took an average of 31 days to sell, while condos sold in an average of 28 days, and townhomes took an average of 25 days.

Benchmark prices in the Fraser Valley slightly declined in July, with the composite Benchmark price dropping below $1 million for the first time since January 2024. The composite Benchmark price now stands at $999,100.