Housing Market Information BRITISH COLUMBIA BC MLS Home Sales Activity (BC, units sa) 12,000 Year-to-date to May 2016: 10,712 units per month 11,000 10,000 9,000 8,000 7,000 Historical average: 6,570 per month 6,000 5,000 4,000 3,000 2,000 Source: Canadian Real Estate Association / Haver Analytics Year-to-date to May 2016 Metro Vancouver housing sales Units 68% less than $1million 34% <$500k 34% $500k-$1mil 22% $1mil - $2mil 5% $2mil - $ 3mil 5% >$3mil Price Range ($) Sources: Real Estate Board of Greater Vancouver; Fraser Valley Real Estate Board; BC Real Estate Association Economics 2 B.C. housing starts (annualized units, sa) Year-to-date to May 2016: 43,753 2008 2009 2010 Source: Canada Mortgage and Housing Corporation. * Historical average (January 1990 to May 2016) 2011 2012 2013 2014 2015 2016 "r . .- Data on home-buyers, - . a if); I-oz?w BRITISH Minisuy si' TRANSFER Final?: "Enigma: EMBED-2421 TAX RETURN gdv.hc.cai'prcpert3rtran sfe rta: Act under the authent'y' dfsectian ?uesLipns abaut the collection [if use at this infermatjdn can be directed tn the Director. Prupert'y' Transfer Tax. FD Eldx 9-12? {Free-dam and Pretectidn cf Act -The personal en this farm is ealle-cted fur the purppse afadministering the Property ?ariaier Tax 1 13th Fret.- Geld. Idiets-rial. BC 1.iEl'i'Ii W1 [telephone 'u'ietena at 250 EST-GEM er lull-free at 1 SEE: BEE-ERIC). Is this a transfer of a bare trust? YES NC I: Are you claiming an exemptidn: it. i TRMIISFEREE List purchasers acquiring an interest in the with this transacticn ii ycu are an individuai piease ccmpiete with year principai residence address. Furchaseri lndividua : Ctherl: Last name i name Address {Apr Sb'eeiNcJWame: am. as] First name Initial Citi.r rm D3 Birth date Sdcial Insurance Numher F'dstalI'Zip cede Ccuntry' Fire ydu ap time hcme Previous address for the last two years {Apr m. Streeii'ia?'iame: Pd Elcut. am swig; L?iuiri hdme exemption? TEE ercentage interest acquired ?ii: Cit-,r Cn the date at registration, are 3.ch a Canadian I citizen er a permanent resident as de?ned in the YES IjEilStal"Elli" EDGE CDUHW immigrach and Refugee Pmiecticn Act [Canada]?r ct citizenship have cdntinuausly resided in BC far at least cne year tn the registratidn date, list any bird years that ycu ?le te tar. returns as a BC resident during the six 5r efdre the date df registratidn. Citizenships of all Property Transfer Transactions – Province-wide Total transactions: 10,148 Citizenship Canada/Perm Residents China United States Total Number of Property Transfers that Involved foreign nationals 337 3% % of Total Foreign Citizenship Total 9,811 258 23 % of Total 96.68% 2.54% 0.23% 10 9 5 5 4 0.10% 0.09% 0.05% 0.05% 0.04% 3.0% 2.7% 1.5% 1.5% 1.2% Switzerland Germany Romania Austria Brazil Chad El Salvador Indonesia Ireland Italy 4 3 2 1 1 1 1 1 1 1 0.04% 0.03% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 1.2% 0.9% 0.6% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% Japan Malaysia Mexico New Zealand Nigeria Tanzania UAE 1 1 1 1 1 1 1 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% United Kingdom Australia Korea Taiwan India Total number of transactions from Canadian Citizens and Permanent Residents 9,811 97% Time period: June 10-29, 2016 Declared Citizenships of All Property Transfer Transactions in BC N/A 76.6% 6.8% Total Value of all Property Transfers – Province-wide Total Investment from foreign nationals $390,054,349 5% Total Investment from Canadian Citizens and Permanent Residents $7,213,719,238 95% Time period: June 10-29, 2016 Citizenships of all Property Transfer Transactions – Metro Vancouver Total transactions: 5,118 Declared Citizenships of All Property Transfer Transactions Citizenship Total % of Total Canada/Perm Residents 4858 94.92% China 234 4.57% Korea 5 0.10% Taiwan 5 0.10% India 3 0.06% Canadian Citizens and Permanent Residents: 4,858 94.92% Time period: June 10-29, 2016 Romania Japan United Kingdom Australia Chad El Salvador Indonesia Malaysia Nigeria 2 2 2 1 1 1 1 1 1 0.04% 0.04% 0.04% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% Total Value of all Property Transfers – Metro Vancouver Total transactions: 5,118 Total Investment from foreign nationals $350,940,465 6.5% Total Investment from Canadian Citizens and Permanent Residents $5,042,992,716 92.5% Time period: June 10-29, 2016 Vancouver Time period: June 10-29, 2016 Total Number of Transactions 47 4% Total Investment $64,262,465 4% $1,563,947,988 96% 1092 96% Total Number of Property Transfers by Canadians/permanent residents Total Investment from Canadian Citizens and Permanent Residents Total Number of Property Transfers that Involved foreign nationals Total Investment from foreign nationals Richmond Time period: June 10-29, 2016 Total Number of Transactions 56 14% Total Investment $61,529,000 14% 336 86% $371,212,528 86% Total Number of Property Transfers by Canadians/permanent residents Total Investment from Canadian Citizens and Permanent Residents Total Number of Property Transfers that Involved foreign nationals Total Investment from foreign nationals Surrey Time period: June 10-29, 2016 Total Transactions 35 3% Total Investment $41,651,698 5% $841,584,668 95% 1,022 97% Total Number of Property Transfers by Canadians/permanent residents Total Investment from Canadian Citizens and Permanent Residents Total Number of Property Transfers that Involved foreign nationals Total Investment from foreign nationals Burnaby Time period: June 10-29, 2016 Total Transactions 36 11% Total Investment $31,472,123 10% $293,520,752 90% 293 89% Total Number of Property Transfers by Canadians/permanent residents Total Investment from Canadian Citizens and Permanent Residents Total Number of Property Transfers that Involved foreign nationals Total Investment from foreign nationals Average investment: Citizens and permanent residents / foreign nationals Time period: June 10-29, 2016 $1,600,000.00 $1,400,000.00 $1,200,000.00 Average Investment - Cdn Citizens and Perm Res $1,000,000.00 $800,000.00 $600,000.00 Average Investment Foreign Nationals $400,000.00 $200,000.00 $0.00 METRO VANCOUVER VANCOUVER RICHMOND SURREY BURNABY 4500 4000 3500 3000 C: 2000 Number of Sales 1500 1000 500 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1988 1987 1988 1989 1990 1991 1992 1993 1994 1995 1998 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Select Property Typels) Detached CondoIApt Attached Select Assessment Areals) All Select Jurisdictionls) All Select Date Range 2f15f1975 12:00:00 AM to 4L Hold Time Between Sales <1 Month 0 <3 Months <6 Months (9 <12 Months 0 <13 Months 0 <24 Months 0 <60 Months I Detached I Condompt I Attached Note: Data reflects entire province NumbernfSales 1999 999 399 T99 E99 599 499 399 299 199 19T5 19T5 197T 19T5 19T9 I 1951 1952 1955 1954 1955 1955 195? 1955 1959 1999 1991 1992 1995 1994 1995 1995 199? 1995 1999 2999 2991 2992 2995 2995 299? 2995 2999 2919 2911 2912 2915 2914 2915 2915 Select Fr-cqmertjlI Typelsl Detached GendeMpt Allached Select Assessment Aresls} All Select Jun'sclictienls} All Select Date Range 12:99:99 AM Is 4L. Held Time Between Sales C1 :1 Month 131 :3 :5 C) :12 Menths :1e Menths C1 :24 Menths :en Menths I Detached I Gandefnpt I A?ach?d Note: Data reflects entire province Numberef?iles T00 50!] 500 400 300 200 100 2000 2001 2002 2003 3005 1000 200? 21313 2000 2010 2011 2012 1013 2014 3015 2010 Seleet Typelsl Detached eendeIApt A?aehed Seleet Assessment Aree[s]l All Select Jurisdictienis]: All Select Date Range 111702000 12:00:00 AM 4L. Held Time Between Sales C: :1 Month (in :3 Menths C: :s Menths C: :12 Months C: :1s Menme C: :24 Months C: :50 Months I Detached I GandeMpt I A?aehed Note: Data reflects entire province More than 14,000 families have saved money on their new homes this year • Between Feb. 17 and June 29, because of the newly built home exemption: – 3,603 families have saved an average of $7,060 on their newly built homes. – Total savings to families: $25,436,366 – 189 per week on average (19 weeks) – 27 per day on average. • The existing First Time Buyers Program has helped more than 10,470 families buy their first home this year. Total estimated future supply: 108,000 homes in six communities Concept planning or policy stage Zoning, re-zoning and development applications Building permits/Pending construction start Total estimated future supply City of Richmond (consulted and pending confirmation) 1,000 15,500 Data not publicly available 16,500 City of Surrey (consulted and pending confirmation) 4,500 15,500 Data not publicly available 20,000 City of Burnaby (confirmation requested and unconfirmed) 4,000 21,500 4,500 30,000 City of Coquitlam (consulted and confirmed) 2,000 2,000 1,500 5,500 City of New Westminster (consulted and confirmed) 4,500 4,000 2,000 10,500 City of Vancouver (consulted and pending confirmation) 14,500 11,000 Data not publicly available 25,500 Six Total Municipalities 30,500 69,500 8,000 108,000 * All figures based on publically available data, with the assistance of the BC Government efforts have been made to confirm inventory with the surveyed municipalities ** The City of Surrey advised of a further 50,000 units of potential future supply within approved area community plans currently not reflected within this review Notes on Housing supply inventory Assumptions and restrictions It is important to note that this data and its analysis must be considered within the context of some assumptions and restrictions: 1. The accuracy of the applications as stated by the various municipalities was deemed to be correct, no additional review to confirm unit counts, address, and application status was conducted. 2. Information related to application inventory was sourced from municipal reporting available online and as necessary additional information was gathered from specific planning applications. Information was gathered in June of 2016. Sources are provided below: – City of Vancouver: http://development.vancouver.ca/ – City of Richmond: http://www.richmond.ca/plandev/devzoning/currentdevapps.htm – City of Surrey: http://www.surrey.ca/city-services/1414.aspx – City of Burnaby: https://www.burnaby.ca/Assets/city+services/policies+projects+and+initiatives/community+development/Major+Developme nt+Projects/01+-+May+2016.pdf – City of Coquitlam: http://www.coquitlam.ca/planning-and-development/resources/current-applications.aspx – City of New Westminster: http://www.newwestcity.ca/business/planning_development/projects_on_the_go.php 3. The Province of British Columbia requested each municipality surveyed to confirm the information. At the time of printing, some municipalities were still in the process of confirming the information. We anticipate ongoing consultations and as information from the individual municipalities is confirmed the total housing supply information may evolve. 4. Due to differences in reporting and application status descriptions between the various municipalities’ unit counts have been sorted into three key stages in an effort to align findings across all six markets. – Concept planning or policy stage – Rezoning, development or combined applications – Building permits/pending construction start