Vancouver Vaisakhi Celebrations

Passports, tax returns, immigration applications delayed during massive strike

From page 1 and about 46,000 essential workers who are not part of the strike action.

The union is asking for a 13.5 per cent raise over the next three years, saying the increases are necessary to keep pace with inflation and the cost of living.

The Treasury Board and the CRA both say they have offered the union a nine per cent raise over three years, on the recommendation of the third-party Public Interest Commission.

PSAC’s national president Chris Aylward told reporters Wednesday that members are willing to strike for “as long as it takes.”

“Workers are fed up, workers are frustrated and workers are saying, ‘Enough is enough. We’re not going to take the garbage anymore.”‘

Government made public sector workers an offer that is ‘fair’: Freeland

Deputy Prime Minister Chrystia Freeland said Thursday that the federal government’s offer to striking public sector workers is a fair one that wouldn’t burden the treasury with unnecessarily high wage costs at a time of economic uncertainty. Speaking to reporters at a nuclear power plant in Pickering, Ont., Freeland said the federal government has to remember the “hardworking people of Canada” who pay public sector wages. Echoing Treasury Board President Mona Fortier, who has said Ottawa won’t write a “blank cheque” to cover big increases in public servant pay, Freeland said there’s only a finite amount of money to go around and Ottawa needs the cash to fund other measures. “The budget was clear that, in order to spend money on Canadians and on our economic capacity, in order to spend money on the clean tax credit, it is important for the government to be thoughtful about our spending on ourselves, on the spending on the operations of government,” Freeland said, referring to a tax credit to spur green innovation.

Surrey recognized as ‘Tree City of the World’ for fourth time

The City of Surrey has been designated a ‘Tree City of the World’ for the 4th time by the Arbor Day Foundation and the Food and Agriculture Organization of the United Nations.

“I am proud that our City has once again been recognized as a Tree City of the World,” said Mayor Brenda Locke. “This recognition speaks to the City’s ongoing dedication in protecting our urban forests while balancing significant growth. We understand the important role trees play in creating a healthy and sustainable community.

Surrey is proud to receive this award and to be recognized for our continued commitment to ensuring a healthy, green and thriving community for future generations.”

The City of Surrey was selected as an inaugural member of the Tree Cities of the World Program in 2019 and was recognized as a Tree City in 2020 and 2021.

The Tree Cities of the World Program is an international initiative intended to recognize cities and towns that are committed to ensuring their urban forests are celebrated, properly maintained, and sustainably managed. The five standards include demonstrating an established framework of responsibility that delegates responsibility of tree care in the City; established bylaws and official policies that guide the management of the City’s forests and trees; a comprehensive inventory of the City’s forests and trees; dedicated funding to support the implementation of the City’s forest and tree management plans; and annual celebrations of trees to raise awareness among residents.

Mother of Surrey stabbing victim urges people to call police, not film violence

The mother of a teenager stabbed to death on a transit bus in Surrey says she hopes her son’s death will bring change.

Holly Indridson said while she believes there needs to be more police and security on buses, the public also needs to be more aware of what to do.

“If you see these types of acts happening, don’t film them. Call the police,” she said in an interview Tuesday.

She said teachers and other members of the public who see children with violent tendencies should refer them for help.

“There’s no reason people do these types of things,” she said of her son’s murder.

Indridson said her 17-year-old son,

Ethan Bespflug, didn’t know the man who attacked him, but was acquainted with the woman who was with his alleged attacker. Her plea comes as premiers from across the country are slated to meet with the Canadian Association of Chiefs of Police Friday to discuss the recent spate of violence across Canada.

City of Vancouver to explore creating six-way pedestrian scramble crossings

Imagine an intersection where pedestrians can cross the street in every direction at the same time, including paint markings on the road that allow them to walk diagonally.

To achieve this six-way pedestrian crossing, a new traffic signal phase that stops all vehicle traffic is also added to the intersection.

Termed a “pedestrian scramble,” bringing this pedestrian crossing concept to Vancouver would not amount to reinventing the wheel.

The world’s best-known pedestrian scramble is certainly Shibuya Crossing where as many as 3,000 people cross the intersection in each vehicle stop signal phase. For well over a decade, a pedestrian scramble has existed at the busy intersection at Oxford Circus in London.

Within Canada, there are five pedestrian scrambles in Toronto, including the intersection of Yonge and Dundas streets downtown.

The iconic Shibuya Crossing intersection in Tokyo with its pedestrian scramble.

New inflation data indicates a welcome slowing of inflation. Prices increased by an average of 4.3 per cent over the 12 months ending in March. That’s barely half the year-over-year inflation rate just nine months ago, in June 2022 (when inflation peaked at 8.1 per cent).

Despite this encouraging news, however, there are some important and worrying factors lurking in the weeds:

1. Core inflation (excluding food, energy, and other volatile items) is now faster than headline inflation (up 4.5 per cent in the previous year, versus 4.3 per cent for all items). This suggests future risk that inflation could rise – especially if some of the changes in non-core items (and energy, in particular) reverse themselves.

2. Indeed, almost all the slowdown in inflation since June is due to energy. The CPI excluding energy slowed just 0.7 of a percentage point in that time: from 5.98 per cent to 5.26 per cent. In contrast, the headline all-items CPI rate slowed by 3.8 percentage points in the same time. Energy costs were the key factor driving inflation higher before June (not wages and labour costs); and by the same token, the decline in energy costs (and hence overall inflation) since June had nothing to do with painful increases in Canadian interest rates.

3. Worse yet, shelter costs are now growing faster than the overall rate of inflation – and by the biggest margin in two years. Shelter costs rose 5.43 per cent in the last 12 months, versus 4.3 per cent for overall inflation. Skyrocketing debt service charges (due to higher interest rates) rose by 26 per cent in the last year. That crushing burden more than offset the impact of higher interest rates on real estate prices (known as ‘replacement cost’ in the CPI).

Police arrest boy, 12, wanted in connection with 6 sexual assaults on Toronto walking trails

Police have arrested a 12-year-old boy suspected in a string of sexual assaults committed on public trails in Toronto dating back to last summer.

A release issued Thursday said the boy was arrested on Monday and charged with two counts of sexual assault.

As a minor, the boy’s identity is protected under the Youth Criminal Justice Act. The charges have not been proven in court. The release lists six alleged sexual assaults suspected by police to have been committed by the boy -- of the incidents, five took place when the suspect was 11 years old, police said, and therefore he cannot be criminally charged for them.

The first incident took place on July 7, 2022, police said. The boy allegedly blocked a woman running on the Gatineau Hydro Corridor Trail just west of Birchmount Road with his bike before sexually assaulted her.

The next day, a second incident was reported in which the boy allegedly followed a woman riding her bike on the same trail, before asking if he could show her an “11 fingers TikTok trick,” and sexually assaulting her.

Prime Minister Justin Trudeau and his family rang in the New Year in Jamaica at an estate belonging to a family that made a large donation to the Pierre Elliott Trudeau Foundation two years ago.

The estate, home to five luxury villas, is owned by Peter Green’s family, whose relationship to the Trudeaus dates back to the ’70s, reports CBC.

Though the trip was approved by the ethics commissioner, it’s not clear whether the Prime Minister’s Office and the Office of the Conflict of Interest and Ethics Commissioner were aware of the donor relationship at the time.

Trudeau defends Jamaica trip, accuses Poilievre of struggling with ‘concept of friendship’

Speaking in the House of Commons last month, Conservative MP Pierre Paul-Hus noted that the prime minister billed Canadian taxpayers $160,000 for the trip, which ran from Dec. 26 to Jan. 4.

According to CBC, Trudeau reimbursed the equivalent value of a commercial flight for the personal trip for himself and his family, but the PMO did not reveal whether Trudeau paid for his accommodations or other expenses out of pocket.

Several unnamed sources told the CBC they were concerned about the optics of such a trip at a time when many Canadians are struggling to stay atop of growing expenses as inflation remains high, and that support for the trip within the PMO was not unanimous.

The total cost of the trip for taxpayers was at least $162,000, including more than $115,000 related to RCMP security. Sources told CBC that some government employees who made the trip stayed at all-inclusive hotels near the Prospect estate, which was purchased by mining tycoon Harold Mitchell in the 1930s.

Mitchell is the late father-in-law of Peter Green. Green took over the mining business when his wife and Mitchell’s lone child, Mary-Jean Mitchell, died in 1985. Most of the operation was sold in 1996 for £300M (about C$500 million), reports The Times.

Stays at the estate can reach upwards of $7,000 a night during peak season, and each villa offers a personal concierge and private beach or swimming, according to the Prospect Estate website.

Police chief talks surge in transit assaults

The head of Metro Vancouver Transit Police believes the justice system needs a “bit of a reset” when it comes to repeat, violent offenders, particularly with respect to the use of knives.

In an exclusive interview, Chief Officer Dave Jones said the uptick in criminal activity the region has experienced as of late “is not like a light switch,” but an evolution over time.

“You eventually come to a point where you sit back and you realize how far you’ve gone,” he said Monday. “I think it worries me just as a citizen — how am I protected within society?”

His comments come in the aftermath of multiple attacks on Metro Vancouver buses and SkyTrains that have left victims hospitalized with injuries, and in one case, dead.

Abbotsford teen Ethan Bespflug was killed after a stabbing on a Surrey bus on April 11, and a second-degree murder charge was laid against a 20-year-old suspect on Monday.

A man in his 20s was also stabbed at the Surrey Central SkyTrain station last Saturday and brought to the hospital in serious condition. He has since been released. Meanwhile, three suspects remain at large in a stabbing that left one person in the hospital at the Columbia SkyTrain station in New Westminster last week. No arrests have been made in connection with alleged assaults

Group of wealthy Americans warns US Democracy ‘Will Not Survive’ unless rich are taxed heavily

A group of rich Americans marked Tax Day on Tuesday by calling on the U.S. Congress to aggressively tax wealthy people like themselves, warning that the U.S. will remain in a state of “perpetual chaos” until lawmakers boldly confront the worsening inequality crisis.

“Tax Day isn’t just a filing deadline—it’s also an annual reminder that the ultra-rich exist in an entirely separate world when it comes to taxes,” said Morris Pearl, chair of the Patriotic Millionaires, an advocacy group that supports progressive taxation.

“For us, the loopholes are bigger, the rates are lower, and many rules are entirely optional,” Pearl, a former managing director at BlackRock, continued. “The tax code has been contributing to growing inequality for decades, and we’re reaching a point where the concentration of wealth is simply unsustainable. We need a change, or our economy and our democracy will not survive. For my future, my grandchildren’s future, and our country’s future, we need to tax the rich.”

Open banking could mean cheaper services and a better credit score

The Liberal government failed to meet its own deadline earlier this year to overhaul how banks handle Canadians’ data — a missed promise that industry players say has a major impact on how Canadians manage their own money.

The concern from some in the financial services industry revolves around open banking — an approach to banking that gives Canadians more choice about how and with whom they share their financial information.

Such a system could make it easier to move money and even accounts across institutions, improve access to credit for new Canadians or allow a small business owner to receive payments from customers in a way that avoids costly fees, says Alex Vronces, executive director of advocacy group Fintechs Canada.

“This system will ensure that you, not your bank, control your data,” reads the federal Liberals’ 2021 election platform, which promised to introduce a “made-inCanada model of open banking that will launch no later than the beginning of 2023.”

Now four months into the year, the rollout for open banking remains an open question for industry stakeholders like Vronces.

“There’s a worry that we’re going around in circles in the open banking conversation right now,” he tells Global News.

“We’re not yet close to a decision on how this thing is going to be stood up and what exactly it’s going to look like. This, I think, is a pretty, pretty big risk.”

The federal government confirmed to Global News in a statement Wednesday that despite missing the early 2023 deadline, open banking is still on its radar and it hopes to have something more tangible by the end of the year.

Experts say Canada risks falling behind if it doesn’t implement the model soon, with Canadians themselves missing out on the benefits of an open banking system.

Vronces says an open banking system would allow Canadians to more efficiently connect their financial information to third parties or app developers who offer services outside what major banks typically provide.

“If there’s a company that offers a service that you want to access, but in order to access it, you need to share some of your financial information, open banking is a regulatory framework that lets you do that safely, securely and efficiently,” he says.

Zero-emission electric truck plant opens in Kelowna

Industries around the world are looking for cleaner options in order to reduce their emissions and a new facility is hoping to provide exactly that.

Wednesday was an electrifying day for the staff of Hexagon Purus with the opening of their facility in Kelowna, B.C.

Employees from around the world, elected officials and more were invited to tour the new plant.

“For me personally, it’s over 20 years in the making to get to this point with the factory in Kelowna, so very exciting. This is one of five factories that we’re opening around the globe this year,” said Hexagon Purus EVP Todd Sloan.

Hexagon Purus serves customers across the globe and works directly with companies like Toyota, Panasonic and Samsung. One of the new features of the zero-emissions plant will be an assembly line to build electric battery systems.

“We also do all the engineering work to design systems so we can build complete battery electric commercial trucks. We also have engineering here for building hydrogen fuel cell versions of the same trucks,” said Sloan.

With more clean energy options becoming available across the world, Kelowna is taking steps to be a part of that process. One of city council’s priorities is to look at things from a climate standpoint and Kelowna Mayor Tom Dyas says this facility does exactly that.

“We’re seeing more and more of that and technology like that and this company coming to town will lead the path that way because it is an industry which is creating good jobs. It is a clean industry and it is an industry that is in demand,” Dyas said.

The CEO of Hexagon Purus, Mortum Holum says in recent years the company has been growing quickly, as more people look for solutions to help the climate crisis.

4/20 set to return to Vancouver with pair of unsanctioned events

Cannabis aficionados are expected to turn out in large numbers on Thursday as annual 4/20 festivities return to Vancouver at two separate locations.

Neither event has been sanctioned by the City of Vancouver.

One gathering is scheduled at Thornton Park at Main Street and Terminal Avenue, where organizers say they’ll set up a cannabis farmer’s market and are promoting the rolling of what they claim will be the “world’s largest joint.”

The other event is slated to take place at Sunset Beach Park, which has been the main location of numerous 4/20 events in recent yearsandthesubjectofsignificantcontroversy.

In an email, the Vancouver Park Board told Global News it has not had contact with organizers for this event.

It said it was aware of the Sunset Beach event, and stressed that it had not issued any permits to organizers, who it said had failed to meet special events permitting terms including liability insurance, permit fees, adequate ground protection and safety and traffic management plans.

“That said, we respect residents’ Charter of Rights to protest, while ensuring public safety, protecting park assets and minimizing impacts to the adjacent neighbourhood and park users,” the park board said.

“As such, we are acting out of an abundance of caution and closing nearby facilities to ensure staff and public safety and support the neighbouring community.”

Closures will include the Vancouver Aquatics Centre and the Sunset Beach washrooms, concession and parking lot.

Last year’s 4/20 event was staged outside the Vancouver Art Gallery, the event’s home for several decades before moving to Sunset Beach.

Ottawa matches USA with up to $13-billion in subsidies to land Volkswagen plant

The federal government has reportedly agreed to provide approximately $13 billion in subsidies over the next decade, in order to see Volkswagen build its first overseas battery manufacturing plant in southwestern Ontario.

According to Bloomberg News, which first reported the “unprecedented” contract after speaking to Industry Minister Francois-Philippe Champagne, the plant will cost $7 billion to build.

The Canadian Press has confirmed that the contract Canada has inked will include both an initial capital investment of $700 million and then up to $13 billion in annual production subsidies, comparable to what Volkswagen would receive had it taken its business to the U.S.

In mid-March, the German automaker said its subsidiary PowerCo had plans to establish an electric vehicle (EV) battery manufacturing “gigafactory” facility in St. Thomas, Ont., south of London. With production planned to start in 2027, the EV battery plant is expected to employ thousands of workers once fully operational.

“Canada and Ontario are perfect partners for scaling up our battery business and green economy jobs, as we share the same values of sustainability, responsibility and cooperation,” said chairman of PowerCo’s supervisory board, in the March statement detailing the deal. At the time and until now, the federal and provincial governments have remained tight-lipped about how much governments agreed to spend to secure the plant. Ontario has yet to release how much it plans to contribute towards this plant, or what form provincial funding may take. Any provincial contributions would be on top of what Ottawa has put on the table. Touting the deal as an indication of Canada’s growing green economy and ability to attract international investment, the move comes amid pressure for this country to remain competitive against the United States’ Inflation Reduction Act (IRA) which is offering billions in clean energy and net-zero industries south of the border.

Vedic Seniors Parivar Centre members at Lakshmi Narayan Temple, Surrey celebrated Vaisakhi Festival on April 17, 2023

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Contact: 604-999-7125

Community news

Game for Senior MembersLadder Toss Balls (Bolas) Game, New Game at Shanti Niketan hall on April 23rd 2023 (Sunday) from 2,00 pm to 3.30 pm.

Vedic Seniors Parivar Centre of Vedic Hindu Cultural Society Surrey informs South Asian Seniors that during the Tax filing period we can help you to file your Income Tax Returns for the year 2022 free of cost, through the community volunteer program, from March 4th 2023 to April 30th 2023. Sin Card & photo ID will be required to prove your documents.

In Person Yoga Classes will continue for members only at Shanti Niketan hall every Monday and every Thursday by expert Yoga Instructor Mr. Ashwani Bansal from 10.00 am to 11.15 am

For more info call: 604 - 507 - 9945

Shailendra, the great lyricist

August 30, 1923 – December 14 ,1966

One of the best lyricist of Indian cimema

Shailendra was born as Shankardas Kesari-lal on August 30th, 1923 in Rawalpindi (Pakistan). His ancestors were basically from Arrah, a district in Bihar but settled in Rawalpindi (in pre-partition India). He lost his mother and sister at very young age. His village in bihar mostly comprised agricultural laborers then Shailendra’s father decided to shift to Rawalpindi and find work at a military hospital.

Shailendra came in contact with Indra Bahadur Khare at the Kishori Raman Vidyalay in Mathura. Both started composing poems, sitting on the rock at the bank of a pond near railway lines. Afterwards Shailendra moved to Bombay for films and Indra Bahadur Khare got his fame in himself approached Raj Kapoor in need of money. At this time, Raj Kapoor was filming world famous ‘Barsaat’ (1949), and two of the film songs had not yet been written. For Rs. 500, Shailendra

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Raashtreey Kavita. Shailendra started his career as an apprentice with Indian Railways in Matunga workshop, Bombay in 1947. He started writing poetry during these days.

Actor, Producer, Raj Kapoor noticed Shailendra, when the latter was reading out his poem Jalta hai Punjab at a mushaira (poetic symposium).

Kapoor offered to buy the poem Jalta Hai Punjab written by Shailendra and for his movie Aag (1948). Shailendra, a member of the left wing Indian People’s Theatre Association (IPTA), was wary of mainstream Indian cinema and refused. However, after his wife became pregnant, Shailendra wrote these two songs: Patli kamar hai and Barsaat mein. The music for Barsaat was composed by Shankar–Jaikishan.

The team of Shailendra, Shankar–Jaikishan & Raj Kapoor, went on to produce many hit songs.

The song “Awara Hoon” from the 1951 film Awaara, written by Shailendra, became the most appreciated song outside India at the time.

Shailendra had penned down plenty of Urdu songs for Raj Kapoor’s films. Film Shree 420 released in 1955 is one of them. All songs of the film were super hit and popular till date in all walks of life. One can easily understand the power and magic of Shailendra’s lyrics from the song “Pyaar hua iqaraar hua hai”, is evergreen golden classic song till date.

In 1961 Shailendra invested heavily in the production of ‘Teesri Kasam’ (1966), directed by Basu Bhattacharya, starring Raj Kapoor and Waheeda Rehman. The film won National Film Award for Best Feature Film. However, the film was commercially a flop. It paved the way to Shailendra’s falling health resulting from tensions associated with the film production and anxiety due to financial loss, coupled with alcoholism, ultimately led to his early death.

Parineeti Chopra & Raghav Chadha to tie the knot soon

Bollywood actress Parineeti Chopra had earlier sparked dating rumours with AAP leader Raghav Chadha with their outings. However, their wedding already seems to be on the cards as the couple took the first step towards the union.

As per media reports, Parineeti and

Raghav got engaged in a traditional roka ceremony in the presence of close family members. The two will reportedly get married by the end of October this year.

Parineeti was spotted outside Manish Malhotra’s showroom in Mumbai. Check out the video:

Rent for unfurnished one-bedrooms in Metro Vancouver shoots up

After rental prices have been in a relative lull since November 2022, the cost of rent appears to be going up more sharply once more. In liv.rent’s latest report, Metro Vancouver rent prices for unfurnished, one-bedroom units increased in April by $55.

According to liv.rent data, rent dipped in December and hasn’t been as high as November on average since.

B.C.’s NDP government has unveiled legislation to push through a controversial supportive housing project on Vancouver’s west side.

The 13-storey development on Arbutus Street between 7th and 8th Avenue, which will include 129 studio apartments for lowincome people and those experiencing homelessness, is facing a court challenge from a Kitsilano neighbourhood group.

“This month, the average rent for a one-bedroom, unfurnished unit has risen by $55 – bringing the region’s average cost to $2,263. Since April 2022, the average rent for an unfurnished, one-bedroom unit in Metro Vancouver has increased by $355, or 18.61%.”

Overall, most units for rent are twobedrooms followed by one-bedrooms. Three-bedroom units are much rarer.

Breaking down the data by city, rent

Vancouver city council approved the project last June, and Housing Minister Ravi Kahlon said the city’s current mayor and council asked the province to step in and ensure it gets built.

“It’s critically important that when we have projects that have gone through long, extensive, public engagement, two years of approvals, and finally get a city council to approve it, that we get going,” he said has gone down slightly in Vancouver and New Westminster since last month, but in every other Metro Vancouver municipality it seems to have gone up.

Right now, the most affordable place to find a one-bedroom is Langley followed by Surrey. The most expensive place to rent a one-bedroom is West Vancouver. Will rent keep going up?

In April, the Bank of Canada

“The mayor and council wrote a letter to us asking us to take action to ensure we can get this housing built because we know the need is great.”

The Municipalities Enabling and Validating Amendment Act, which is written to only apply to this specific project, will mark the first time the province has used legislation to push through a project on land it does not own.

Ownership of the property will be transferred to the province once the development is complete.

“We are thankful for the ongoing support from senior government partners to expedite the delivery of much-needed affordable housing in the city. This project will deliver 129 studio homes and make a huge difference in the lives of people in the community,” Vancouver Mayor Ken Sim said in a media release.

“We look forward to continuing conversations and working with the community via the neighbourhood Community Advisory Committee as the project progresses.”

Under the current plan, at least half of the 129 units in the project will be announced that it would hold the interest rate at 4.5%. But since demand is still incredibly high in Canada’s major rental markets, it’s not liv.rent says it’s uncertain whether prices will continue to rise throughout 2023 or return to previous levels. You can learn more and see the full April rent report from liv.rent. held for people currently homeless and on income assistance, while the other half would be held for people earning between $15,000 and $30,000 per year. During the approval process last year, the development faced significant opposition from neighbourhood residents who argued it will house too many people with complex issues.

Members of the Kitsilano Coalition argued the project would “import the culture of the street” while congregating a large proportion of people with mental health and substance use problems in one place, that there won’t be enough support services, and that the project is too close to an elementary school.

The group subsequently filed a court challenge of the project, which the new legislation will circumvent.

The bill states that “all powers and duties in relation to the zoning bylaw” were “validly adopted by the Vancouver council” and explicitly protects the city’s approval process “despite any decision of a court to the contrary made before or after this section comes into force.”

High-density residential development with as many as five high-rise towers is being eyed for the northwest corner of the intersection of West 41st Avenue and Oak Street.

The City of Vancouver is currently in the early stages of considering two separate proposals for the corner, where there are significant sites totalling over eight acres. However, the proposals are non-compliant with existing City policies as they call for significantly more height and density than what is prescribed in the Cambie Corridor Plan.

The two proposals are going through the municipal government’s Policy Enquiry Process stream, which was created by the previous City Council in July 2021 to provide elected officials, not

City staff, with the final say on whether a formal rezoning application should be accepted for consideration and reviewed.

“Based on staff’s assessment of the two Policy Enquiry proposals, there is rationale for Council to consider the deviations for height and number of expected towers on each site from existing policy in order to advance Council’s priorities and objectives,” reads City staff’s report ahead of next week’s public meeting.

“However, given that the proposed departures from policy are significant, staff are seeking direction from Council before continuing to advise the applicant through the enhanced rezoning process.”

The proposal sites of Louis Brier (orange) and Shawn Oaks (pink) at the northwest corner of the intersection of Oak Street

The Canadian housing market has been experiencing a downturn since March 2022, and the question on everyone’s mind is when will it reach its bottom? However, after a significant decline in the housing market last year, Canada’s housing market appears to be on the road to recovery. The average home price has increased by 8% compared to last month, reaching $662,437, the highest level since June 2022, and all provinces saw their provincial average home price increase compared to last month, according to the data released by the Canadian Real Estate Association (CREA). However, the national average home price is still down by 19% year-over-year due to the impact of higher Canadian interest rates seen over the past year. Sales during February 2023 are down 40% year-over-year, but there was

Canadian home prices forecast to rise by end of 2023

an increase of 41.6% from last month when Canadian home sales were at a 14-year low.

Canada’s MLS Benchmark Price, which measures the price of a “typical” home in Canada, has increased by 0.2% from last month, reaching $715,400. This is the first time the benchmark price has increased on a monthly basis since March 2022. The rise in home prices and benchmark price may be a sign of the housing market’s recovery, but it’s still too early to tell.

The recent report released by the Canadian Real Estate Association (CREA) shows that national home sales were up on a month-overmonth basis in February 2023. The Canadian housing market is showing signs of recovery in February 2023, with sales increasing on a month-overmonth basis, the market tightening and month-over-month price declines getting smaller. Future sellers are likely biding their time until the optimum time to list and buy something else, which is typically in the spring. With new listings falling considerably and sales moving higher, the market may shift toward a seller’s market. According to the Canadian Real Estate Association (CREA), home sales in Canada increased by 2.3% from January to February 2023, with the Greater Toronto Area (GTA) and Greater Vancouver leading the gains. The actual number of transactions in February 2023 was 40% lower than the same month in 2022, comparable to the numbers seen in 2018 and 2019. The market is showing signs of recovery and the potential for a more robust market in the spring, with homeowners preparing to list their properties and buyers getting mortgage pre-approvals.

Housing sales in Northern BC see 39% decline in the past year

The north continues to lag behind the rest of the province when it comes to the overall recovery of the housing market according to the BC Real Estate Association.

Our region has seen a 39% yearover-year decline in home sales – just 289 unit sales were tallied last month, compared to 475 in March of 2022.

Economist, Ryan McLaughlin spoke with Vista Radio on the topic.

“Relatively speaking, the north isn’t showing as much of a pickup compared to the rest of the province like Chilliwack and the Fraser Valley where they really picked up last month. However, sometimes the north lags a little bit from other markets.”

Over the past 12 months, active listings have risen by 44% going from 1,073 in March of 2022, to 1,546 last month.

However, McLaughlin noted when you examine it a little closer they have flatlined since January, which indicates a tightening of the market.

“That’s a sign of a changing in a direction in the north as well – the fact that active listings are changing direction as active listings are going down means that there are more sales than there are new listings going up, which is a sign of a tightening in the market.”

“We are still down from where we would like to be. We are way down from where we were in 2015 and 2016. It is interesting that it changed direction –since one year ago when rates started getting tightened the market has been softening and what that typically meant was falling sales, falling prices, and falling active listings. Now with active listings trending down in the north in the past two months, it could be a sign the market is re-tightening again.”

The average home price in the north is $384,271. In Prince George, single-detached homes sold for just over 511 grand in March.