Tri-City News September 28 2016

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TC ARTS/ENTERTAINMENT: 27

MultiCulture Days in the Tri-Cities REAL ESTATE

Resales cool but building homes is hot Also: Coq. industrial vacancy rate is less than 1% GARY MCKENNA

The Tri-CiTy News

The number of housing starts in Coquitlam jumped dramatically in the first six months of 2016 but the residential real estate market is starting to show signs of cooling, according to the deputy city manager. During a council-incommittee meeting last week, John DuMont told council there is some uncertainty as to whether the upward trends in housing transactions seen over the last few years in Metro Vancouver will continue. “Where the real estate market is heading now is a bit

TC

INSIDE: Surrey man’s body is found in Coquitlam [pg. 4] / TC Sports [pg. 30] WEDNESDAY, SEPT. 28, 2016 Your community. Your stories.

TRI-CITY

NEWS

FUN AND (55+) GAMES IN COQUITLAM

Tri-City athletes racked up multiple medals at the Coquitlam 55+ BC Games, held last week. For results, see Sports, page 30. For photos, see page 3.

of a question mark,” he told council. “There appears to be a bit of a cooling.” The city’s semi-annual economic development activity report noted gradually increasing interest rates could dampen sales and that it would take some time before the impact of the provincial government’s recently instituted 15% foreign buyers tax would be seen in transaction figures. DuMont’s statement echoed numbers from the Real Estate Board of Greater Vancouver (REBGV), which were released earlier this month. According to the REBGV data, the total number of transactions for detached homes, attached homes and apartments dropped 29% from 501 in July to 351 in August. see A 70% INCREASE, page 10

sD43 students are shooting for the stars with science: page 23

ELAINE FLEURY PHOTO

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