The Bank of Canada (BOC) released the summary of the discussions the Governing Council had on the country’s economic situation before making its decision to lower the policy rate on September 4, 2024.

International Economy

Global economic conditions were reviewed. In the U.S., economic growth was stronger than expected, driven by consumer spending. Despite a cooling labour market, household consumption...

In Q2 2024, the Canadian commercial real estate market saw a resurgence, as investment volumes rose by 67.4% from the previous quarter, reaching $14.5 billion. This strong recovery wasn’t merely a rebound from the typical ebb and flow of market activity; it was driven by a combination of factors, most notably a rush of property sales pushed through before the June 24th capital gains tax change...

The construction industry in British Columbia plays a crucial role in shaping the real estate market. The British Columbia Construction Association released its Spring 2024 Statistics; the data in this report indicates both growth and challenges in the sector, which may impact future developments and market dynamics.

Value of Current Projects on the Rise

As of Spring 2024, the value of construction...