How Will Emerging Contract Security Trends Affect Your Business? Get the Answers at VICA’S Member Meeting on September 18!

Posted on Aug 26, 2013

Do you know how emerging trends like subguard compare to other options in contract security? Do differences between the options negatively impact stakeholders or benefit them? Get the answers to these questions at the upcoming Vancouver Island Construction Association (VICA) member meeting:

Developing Trends in Contract Security
September 18, 2013
7:30 a.m. to 11:00 a.m.
Laurel Point Inn
680 Montreal Street
Victoria, BC
 

This topic will be of particular interest to general contractors, trade contractors, construction managers, project managers, owners, architects, and engineers. A wide range of industry perspectives will be presented and discussed, followed by a question-and-answer period.

Terry Brown will be your facilitator and featured panelists include :

  • Owner – Rick Gudz, CFB Esquimalt Site Manager, Defence Construction Canada
  • Insurer – Zurich Insurance
  • Surety – Randy Singh, Construction Services Account Executive, HUB International
  • Surety – Dave Bentley, Construction Services Account Executive, HUB International
  • General Contractor – Anibal Valente, VP, PCL Constructors Westcoast Inc.
  • Trade Contractor – Russ Hepworth, President, Tech Mechanical

One sponsorship spot is currently available for this event. Please contact admin.victoria@vicabc.ca for information regarding this opportunity.

This event is free for VICA members and $75.00 for non-members. To become a VICA member, visit their website.

 

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Campbell River Witnessed Huge Growth in Unit Sales, Reports Vancouver Island Real Estate Board

Posted on Aug 12, 2013

Campbell River Sees Huge Growth in Real Estate

Campbell River Sees Huge Growth in Real Estate

Originally published in Campbell River Courier-Islander, August 7, 2013

In terms of unit sales year-to-year, Campbell River witnessed huge growth – an 87 per cent increase according to figures released by the Vancouver Island Real Estate Board.

Comox Valley unit sales increased by 12 per cent; Nanaimo sales dipped one per cent; Parksville/Qualicum sales rose two per cent; Cowichan Valley saw a 25 per cent increase, and sales for Port Alberni/West Coast remained virtually unchanged from last year.

“There are a number of projects underway in the Campbell River area, and it seems this construction activity is directly contributing to the growth in their housing market,” said VIREB President, Gary Gray. “This is a good example of what economic drivers can do to the market.”

Cameron Muir, chief economist for the British Columbia Real Estate Association, felt the statistics were encouraging.

“The upward trajectory of sales show that demand is starting to come back. Home sales are up year-over-year, and flat pricing continues to indicate a balanced market condition,” he said.

Comparing July 2013 to July 2012, the average sale prices saw Campbell River remain virtually unchanged with average sales price listed at $296,789; Comox Valley was up one per cent to $347,954; Nanaimo also went up one per cent to $362,918; Parksville/Qualicum prices remained relatively unchanged at $376,060; Port Alberni/West Coast increased by nine per cent to $250,910, while the Cowichan Valley was down two per cent to $327,410.

Written by Neil Cameron, Campbell River Courier-Islander
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Vancouver Island Real Estate Continues Steady Market Growth Throughout Summer 2013

Posted on Aug 7, 2013

Family in front of homeExcerpt from VIREB Media Release

NANAIMO, BC – Multiple Listing Service® (MLS®) sales summary data for July released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island was up 12 per cent compared to last year, while average sale prices remained relatively stable. The average price of a single family home sold within the VIREB region in July 2013 was $333,056, which is comparable to the $334,530 average sale price recorded in July 2012. There was also a 12 per cent increase in unit sales for July 2013, where 433 units were recorded, in comparison to July 2012, when 385 single family homes sold.

At the end of July 2013 there were 2,945 single family homes available on the Multiple Listing Service® within VIREB’s coverage area, down from the 3,317 homes in the system at the end of July 2012.

In terms of unit sales year-to-year, there continued to be large variances among our different areas: Campbell River witnessed huge growth, reporting an 87% increase; Comox Valley unit sales increased by 12%; Nanaimo sales dipped 1%; Parksville/Qualicum sales rose 2%; Cowichan Valley saw a 25% increase, and sales for Port Alberni/West Coast remained virtually unchanged from last year.

“There are a number of projects underway in the Campbell River area, and it seems this construction activity is directly contributing to the growth in their housing market,” said VIREB President, Gary Gray “This is a good example of what economic drivers can do to the market,” he stated.

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Vancouver Island Real Estate Numbers Showed Improvement in May

Posted on Jun 3, 2013

New Vancouver Island real estateMultiple Listing Service (MLS) sales summary data for May released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island was up 8% compared to last year, while average sale prices were comparable. The average price of a single family home sold within the VIREB region in May 2013 was $342,395 remaining close to average price for May 2012 at $343,662.  In May 2012 there were 418 single family homes sold, in comparison to the 8% increase for May 2013 where 451 unit sales were recorded.

“Since the beginning of the year, we’ve experienced increased levels of month over month activity, and anticipate that we will continue to see modest market growth through to the end of the year,” said Cameron Muir, chief economist of the British Columbia Real Estate Association.

“Currently, the market is generally balanced, with lower inventory levels keeping supply and demand in-check,” explained Gary Gray, president of VIREB. “This is reflected by relatively flat pricing across the board.”

At the end of May 2013 there were 2,905 single family homes available on the Multiple Listing Service® within VIREB’s coverage area, down from the 3,324 homes in the system at the end of May 2012.

Comparing May 2013 to May 2012, the average sale prices across VIREB’s six geographic areas saw: Campbell River decrease 3% to $296,773; the Comox Valley was down 2% to $355,515; Nanaimo’s average sales price was up 2% to$357,443; Parksville/Qualicum prices were down 6% to $388,650; Port Alberni/West Coast was up 13% at $228,487, while the Cowichan Valley was down 5% to $340,712.

In terms of unit sales year to year there continued to be a wide disparity between the different geographical areas: Campbell River recorded a 30% increase, Comox Valley unit sales were close to last year decreasing by only 1%, Nanaimo recorded a 12% increase, Parksville/Qualicum sales were up 33%, Port Alberni/West Coast increased 11% and Cowichan Valley sales decreased 16%.

Submitted byVIREB

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Housing Sales Activity Up in April in Vancouver Island Real Estate Board Region

Posted on May 7, 2013

 crown isle fairway home for saleMultiple Listing Service® (MLS®) sales summary data for April released by the Vancouver Island Real Estate Board shows housing sales activity across Vancouver Island was up 7% compared to last year, while average sale prices were down 6%. The average price of a single family home sold within the VIREB region in April was $323,973 down from April 2012 average price of $343,083. In April 2012 there were 383 single family homes sold, in comparison 410 unit sales were recorded in April 2013.

“It appears consumer confidence is growing based on the fact that Realtors have definitely seen an increase in market activity over the last several weeks,” suggested VIREB President Gary Gray.

“We anticipate residential sales activity to continue growing through the second quarter,” said Cameron Muir, chief economist of the British Columbia Real Estate Association, “however we are not expecting corresponding price increases.”

As of the end of April 2013, there were 2773 single family homes available on the Multiple Listing Service® within VIREB’s coverage area, down from the 3,007 homes in the system at the end of April 2012.

Comparing April 2013 to April 2012, the average sale prices across VIREB’s six geographic areas saw; Campbell River increase 2% to $283,032, the Comox Valley was down 5% to $341,211, Nanaimo’s average sales price was down 9% to$334,486, Parksville/Qualicum prices were up 4% to $404,889, Port Alberni/West Coast was down 14% at $209,625, while the Cowichan Valley was down 4% to $334,680.

In terms of unit sales year to year for the month of April, there continued to be a wide disparity between the different areas; Campbell River recorded a 46% increase, Comox Valley unit sales were off 24%, Nanaimo recorded a 12% increase, Parksville/Qualicum sales were unchanged, Port Alberni/West Coast increased 9% and Cowichan Valley sales decreased 9%.

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