Vancouver one bedroom rent ranked as the second priciest at $2,150. Two bedrooms dropped 0.3% to settle at $2,990.

Vancouver has the second highest rent in the country, and the suburbs aren’t far behind according to a new report from a website that tracks rental units.

According to PadMapper, an average one-bedroom rental in Vancouver costs $2,150 a month.

The cost to rent a two-bedroom unit dropped slightly last month to $2,990, found the report.

The most expensive city to rent in the country is Toronto, where one bedrooms are ranked at $2,300.

The cost to rent bedrooms in Toronto increased by one per cent to $2,980, according to PadMapper.

The third most expensive city to rent a one-bedroom unit in the country is Burnaby at just over $1,700 a month, the report found.

Padmapper Spokesperson Crystal Chen says that number jumped 12 per cent since the same time last year.

“There seems to be some price fueling in Vancouver,” she said. “So people are looking at close cities that are more affordable like Burnaby.”

The city with the largest jump in the country since last month was Abbotsford.

Chen says it climbed to the 17th most expensive city at $1,090 per month.

“The next most affordable city in British Columbia is Kelowna, which is a jump to $1,350,” she said. “Abbotsford is less expensive for one bed, and it’s closer to Metro Vancouver, so that makes it more desirable for people.”

The report says overall, the top 10 markets were relatively stable since last month with no new cities entering or leaving.

In terms of monthly changes, the report says Victoria one-bedroom rentals had the largest growth at 5.3 per cent.

Barrie, Ontario had the biggest dip, with rents dropping 5.2 per cent.

Source: Global News

Oakwyn Realty Named Highest Performing Single Office in Greater Vancouver

​February 13, 2020

Oakwyn Realty has been named Greater Vancouver’s Highest Selling Single Office in 2019 according to the Real Estate Board of Greater Vancouver. The Real Estate Board of Greater Vancouver tracks all sales on the Multiple Listings Service by the brokerage. Surprisingly the locally owned Oakwyn Realty Ltd came out on top compared to other international and national companies. With corporate sales totaling over $3.1 billion, this accomplishment comes 6 years after the brokerage’s inception and significant growth year over year in regards to overall sales and agent count.

After opening its doors in 2013 with 30 agents, Oakwyn Realty quickly gained traction and respect within Vancouver’s real estate and business communities. In the following years, the real estate market propelled into a period of instability when new government policies, including the foreign buyers tax and stricter mortgage qualifications, began to surface on the industry's horizon. Oakwyn embraced the changes and increased sales by 206% between 2016 and 2017, with the trend continuing in subsequent years. With home sales expected to rise by 12% in 2020, Oakwyn is expected to continue making waves in the industry.

“We consider ourselves the new kid on the block, but we’re thrilled to see that people are excited about a more collaborative industry,” said Morgan Browne, President and Co-Founder of Oakwyn Realty. “We have 435 talented and like-minded agents providing exceptional experiences in our communities, and we’re looking forward to seeing more growth as we head into a new decade.” 

Oakwyn’s impressive sales in today’s real estate market are a testament to the company’s culture and unwavering commitment to their Put People First mentality. Having seen notable increases in agents year over year, the company has proven that the industry is ready for a fresh new take on brokerages and how the world of real estate wants to be served.  

Oakwyn’s core values translate through to their agents, with one in five receiving the honour of the MLS Medallion Club, an exclusive membership representing the top 10% of agents throughout Greater Vancouver. Through a philosophy of social responsibility, tailored education, and innovative strategies, Oakwyn Realty is committed to providing an opportunity for growth, collaboration and improving the industry from the inside out. 

To learn more about Oakwyn Realty visit: https://www.oakwyn.com/

Source: https://www.bcnewhomes.ca/oakwyn.html