Archive for August, 2008

Meteor hunters look up, waaaay up with cameras on rooftops worldwide

Tuesday, August 19th, 2008

Richard Dooley
Sun

A meteor streaks across the sky. A New Brunswick scientist is part of a project aiming to catch images of meteors on camera. Photograph by : Doug Murray, Reuters files

The odds of finding what New Brunswick scientist James Whitehead is looking for are astronomical even by his standards.

But a unique series of cameras stationed on rooftops in Canada, and across the world, is increasing the odds of finding — and recovering — a fresh meteorite if it tumbles through the atmosphere.

Whitehead, a geologist at St. Thomas University in Fredericton, is part of an international team of scientists that has trained high-tech cameras toward the heavens hoping to capture images of fireballs streaking across the night sky.

The aim is to use the photographs, along with a little basic trigonometry and a good timepiece, to estimate where the fireball struck the Earth with the hope of recovering what’s left of it.

For Whitehead, who’s leading the hunt in Eastern Canada, that’s as exciting a prospect as watching a meteor burn through the atmosphere and land outside his Fredericton office.

“They are windows on the formation of the solar system,” Whitehead said. “The more material we have, the more we can understand how the solar system was formed.”

The relatively inexpensive cameras — they cost about $200 apiece — are focused on the skies on rooftops scattered around North America. The United States has a network of 28 cameras.

Canada has 26 — in British Columbia, Alberta, Sas-katchewan, Ontario and the Atlantic provinces.

Since 2007 seven cameras, have been stationed around Atlantic Canada: three in Newfoundland, one in Nova Scotia and three in New Brunswick.

The camera network operates in concert, each camera poised to capture an image of a fireball, dramatic bolts of light that cross the heavens and illuminate the night sky.

From that data, scientists can work out the fireball’s trajectory and estimate where it came down.

Shooting stars differ from fireballs in that they are faint, but distinctive streaks of light through the sky.

No larger than a grain of sand, shooting stars usually burn up in the atmosphere.

Fireballs are larger and usually leave behind material when they hit the Earth. The trouble is finding it.

“Thousands have hit the ground, but they are easily overlooked or are so weathered that the material has been destroyed,” he said.

In North America, most of the ancient meteorites have been lost, scraped away by successive ice ages. But some estimates place the number of meteor impacts of 100 grams or larger at 36 per sq. kilometres. So finding a meteorite is possible, said Whitehead.

But while his cameras have captured images of fireballs, he’s yet to make that all important find himself.

Although Whitehead does advise the Canadian Space Agency about the possibility of the Earth being hit by large heavenly bodies, the All-Sky Camera network is not an early warning system for a doomsday rock striking the planet.

If a planet-shattering meteor gets picked up by the cameras, it’s too late, he said. “By the time we’d see it we’d be vapourized.”

Whitehead hopes to make the All-Sky Camera Project a living experiment for school children in the Atlantic provinces. He envisions a day when high school students can use the data from the cameras to hone their math skills and plot likely landing points for meteorites.

© The Vancouver Sun 2008

Olympic Village in South False Creek assure Canadian Athletes the best accommodation

Monday, August 18th, 2008

Canadian athletes at 2010 Olympics are assured of the best spots in the village

Jeff Lee
Sun

People walk at the athlete’s Olympic Village in Beijing just days before the start of the 2008 Summer Games. Photograph by : Michael Kappeler, Agence France-Presse; Getty Images

At The Beijing Games – Tim Morrison’s job is to look after the comfort of the 5,500 athletes from around the world who will come to Vancouver and Whistler for the 2010 Winter Games.

But he can’t help to be just a little bit pro-Canadian, and this last week he was bursting with a secret he wanted to share.

When Canada‘s athletes arrive at the brand new village on False Creek, they’ll find themselves being housed in the best of the buildings, front-and-centre on the water with an unobstructed view of the new park and a man-made island.

It’s a little thing he and the others at the Vancouver Organizing Committee can do for Canada without appearing to be overtly favouring anyone. After all, all athletes in the village, whether they are from Canada or from the Bahamas, will have equal accommodations and equal access to services.

But putting the Canadians in Building 4 closest to Cambie Bridge will give them a psychological boost, said Morrison, Vanoc’s managing director of Athletes Villages and food and beverages.

“It’s a great spot, but then all throughout the village is a great spot,” he said. “We’re suggesting this spot [to the Canadian team] because it’s close to the amenities, close to the dining hall, it’s just a real signature spot.”

Vanoc has also given the Canadian hockey teams at the UBC Winter Sports Centre their own dressing room, decorated with Canadian flags and motifs.

Morrison was in Beijing last week, taking the last lessons he could from the Beijing Organizing Committee officials who are running the athletes villages and food services in the sporting venues.

He walked through the kitchens that prepare more than 40,000 meals a day for the athletes and workforce, looked in bedrooms and toured the international zone in the village.

He had no critical comments about the way his Chinese counterparts have done things.

But one of the biggest lessons he encountered was watching how the 205 countries set up their offices and how Bocog handled problems. Each National Olympic Committee is allocated space for offices, doctors, physiotherapists,counsellors, coaches and other officials, dependent upon the number of athletes and their needs. The biggest problem that emerged was a lack of office space and problems with the Internet.

But no sooner were problems discovered than Bocog fixed them, he said.

“When something was brought up and there was a concern, they were very efficient and it was taken care of,” he said.

Many of the teams have hung flags from their balconies, with Canada‘s so large no one could miss it. Some teams have also converted a spare bedroom to a communal area customized to make it seem more like home.

It’s an important aspect Morrison says is not lost on him. With each athlete facing enormous personal and team pressure to perform, having a quiet place is as good as gold.

Bocog has tried hard to give the villages a homey flavour. There are gardens and water features and quiet places to reflect. Each athlete and media bedroom also comes with a personalized picture drawn by a Chinese child, which the occupant can take home after the Games as a souvenir.

It’s an idea Morrison is also considering for Vancouver.

As was the case in Beijing, Morrison said Vanoc will try to keep teams together in several buildings. The Canadians in one, the Americans in another, the Germans in a third and so on.

“It’s because all the teams want to keep their athletes together, to make sure they have that communication for their teams,” he said.

Sometimes that’s not possible. Many of the smaller countries are scattered throughout the Beijing complex, as they also will be in Vancouver. But wherever possible, Morrison said he’s trying to keep countries together.

He also expects that, like here, few teams will opt to take rooms outside the village. In Beijing, the American basketball team is staying in private accommodation to keep autograph-seekers to a minimum, a problem that also forced tennis star Roger Federer to move out of the village.

“I don’t think it’s because they are used to staying in a certain luxury.

It’s because they walk in and they are swamped,” Morrison said.

Food quality and supply is an important issue at any Games. Morrison said Aramark, one of the largest food service companies in the world, has the contract for the athletes and media villages. Aramark has its own quality-control staff here to make sure only the freshest foods reach the table.

One chef recruited from New York who talked to a Sun reporter said the Chinese were insistent on raising all of the foods locally in approved farms that minimize the risk of food-borne illnesses.

Still, getting access to enough food has been a problem in Beijing, the chef said. Often supplies run out or are late to arrive because of bureaucracy or tight security.

But Morrison said it is remarkable how well the Olympic food service is run.

Vancouver has not yet signed a food service provider. Vanoc has issued three requests for proposals, one for the combined athletes’ villages in Vancouver and Whistler, one for Vancouver venues and one for Whistler venues. The villages proposal closes in September and the two venues contracts close in October.

© The Vancouver Sun 2008

 

Avoiding pitfalls in your new strata

Sunday, August 17th, 2008

Tony Gioventu
Province

Dear Condo Smarts:

We are in a new strata that the first owners moved into in July 2007. Our council has been working very hard to create a management plan, but we get no co-operation from either the developer or our property manager, who was hired by the developer. We have no access to our building records and are unclear on who we go to when we have a building problem. Since our first AGM in November, we have had two pipe breaks and a roof leak. Both were easily repaired once they were discovered, but now our insurance is increasing substantially and we still don’t know what we need to do. The members of our council are all volunteers and don’t know what to do next.

— CC, Richmond.

Dear CC: The first year of a strata is the toughest. If you don’t get off on the right foot it can be very costly. At the first AGM your developer was required to hand over all the building records, contracts, operating instructions, suppliers’ names, plans and warranties. That may have been provided to the manager, but your council also needs those records to make decisions and understand your building system. Get the list from Section 20 of the Strata Act, and review all of your documents and confirm that everything required exists. If there is anything missing, track it down through the developer.

Next, make sure every council member has a copy of the common-area warranty for your strata, and individual copies of warranties for products and materials such as: the elevator, roof, carpeting, boilers or safety systems. The warranty commences on the date of the first sale or first occupancy, whichever came first. In the warranty documents, there are critical dates that limit claims and set out conditions of how to file claims. If you have any building warranty claims, they are only treated as a valid warranty claim if you file the claim with the warranty provider in the proper form.

While calling the developer to co-ordinate service may resolve the problem, it is not necessarily a valid warranty claim. As your one- to two-year period is coming up, it may also be prudent to have a complete building inspection conducted to form part of a claim process before the expiry dates.

The two-, five- and 10-year generally means that building systems are covered for two years, the envelope for five years and the structure for 10 years. The warranty is a contract with your strata that also sets out specific maintenance and inspection obligations. Make sure you uphold your obligations to protect your warranty interests. Your warranty can be worth as much as $2.5 million in coverage per building. If you are getting no co-operation from the developer or manager, it might be time to take tougher action and seek legal recourse.

Tony Gioventu is executive director of the Condominium Home Owners’ Association (www.choa.bc.ca). E-mail: [email protected]

© The Vancouver Province 2008

 

B.C. home sales slowed

Sunday, August 17th, 2008

Weaker demand puts pressure on house prices

PAUL LUKE
Province

The market was red-hot when Crest Realty agent Terry Flahiff closed the sale on this home on Vancouver’s West 10th Avenue in March. Now it’s the chilliest since the turn of the decade. Photograph by : Les Bazso, Province Files

Home sales in B.C. have slowed to a pace unseen since the decade started, the B.C. Real Estate Association says

Residential sales volume on the Multiple Listing Service in B.C. fell 38 per cent to $2.9 billion in July from the same month a year earlier, the association said.

Residential unit sales tumbled 37 per cent to 6,541 units over the same period. The average MLS residential price in B.C. eased 0.5 per cent to $444,358 from July, 2007.

“B.C. households are now cautious about making major purchases in light of uncertainty around fuel prices and other inflationary pressures,” association chief economist Cameron Muir said.

Weaker demand has put downward pressure on prices in some markets by swelling the inventory of homes for sale, Muir said.

Last month, 60,008 homes were for sale in B.C., up 63 per cent from the previous year, the association said.

“While this inventory is expected to decline in the coming months, most B.C. regions will remain in buyers’ market territory for the remainder of 2008,” Muir said.

On a year-to-date basis, the average residential price across B.C. rose 8.2 per cent to $469,676 from the same period a year earlier.

Year-to-date sales fell 24 per cent to 49,448 units.

Nationally, home prices will continue to outpace inflation this year and next the federal housing agency forecast Friday.

The relatively upbeat forecast also projected that the pace of housing construction would slow but to what are still historically high levels.

“Strong economic fundamentals, such as continuing high employment levels, rising incomes and low mortgage rates will provide a solid foundation for healthy housing markets this year,” CMHC chief economist Bob Dugan said.

However, rising mortgage rates will dampen housing construction by 5.6 per cent this year to 215,475 units from 228,343 in 2007, with seven provinces seeing a slowdown, it said. Next year, rising competition from the existing home market, coupled with the elimination of the pent-up demand that built up during the 1990s, will result in a further drop in starts to 194,000.

The only provinces that will see an increase in the pace of construction this year are Newfoundland and Labrador, Manitoba and Saskatchewan, with Manitoba the only province projected to post a further gain next year.

It also forecast that existing home sales would fall nearly 12 per cent this year and then by nearly 2.6 per cent next year.

Despite the slowdown in sales, it predicts the average selling price of a home will still rise by 3.3 per cent this year to $317,450, and by a further 3.0 per cent in 2009 to $327,000.

The forecast is a lot more optimistic than a recent national construction industry forecast that housing prices won’t rise more than inflation this year and could fall as much as five per cent in inflation-adjusted terms.

© The Vancouver Province 2008

 

The New Convention Centre’s Green roof boasts host of eco pros

Sunday, August 17th, 2008

New structure’s high grass will be sanctuary for downtown pests

Susan Lazaruk
Province

Landscape architect Bruce Hemstock stands above the green roof of Vancouver’s new convention centre. The environmental benefits of the roof include converting carbon dioxide to oxygen, insulating the building and helping bugs feel more welcome downtown. Photograph by : Jon Murray — the Province

With the completion next spring of the new convention centre in Vancouver‘s Coal Harbour, there will be a few blocks of new parkland added to the city — but they’re strictly for the birds and the bees.

The expansion project, west of the current convention centre, is being topped off with a 2.4-hectare green — or “living” — roof that covers the flat, sloping segmented roof, and will be the second-largest in North America, next to a Michigan Ford plant covered with grass patches.

About one-third of the roof area was planted in late April with 400,000 seedlings and thousands more seeds, and is sprouting patchy green fuzz like a giant, flat Chia pet.

Two dozen different coastal grasses — such as pearly everlast, nodding onion and field strawberries — native to B.C. were chosen because of their ability to withstand drought and draw birds and insects, said landscape architect Bruce Hemstock.

“They are relatively easy to maintain and they create the habitat for the type of species we want to attract,” he said.

Besides converting carbon dioxide to oxygen, insulating the building to keep heating and cooling costs down and reducing storm-water runoff, the green roof is designed as an ecological reserve.

“We want to promote bees, ants, other insects and birds to bring them back to the downtown,” said Hemstock.

Humans will be allowed to look but not touch.

“You can’t walk on it because then it becomes no more than a park and you lose all that [birds and insects],” he said. “I’ve seen swarms of honeybees up there already.”

The sloping meadows of roof can be seen from adjacent rooftops as well as from inside the centre through specially designed view planes and while walking north on Burrard and Thurlow streets, he said.

And visitors will be able to get up close to the grasses by accessing the 1,500-square-metre roof of an adjoining section of the building to be leased for commercial use.

The remainder of the convention centre’s roof, now covered with 15 centimetres of sand mixed with composted organic matter and lava rock carted up last winter, will be planted next month.

Landscapers left little to Mother Nature, designing the roof to withstand soil erosion from winds or heavy rains.

“Runnels” built diagonally throughout the roof are designed to mimic rivers to slow water runoff.

“We had a really big storm that lasted a week and a half and we had no loss of soil,” said Hemstock.

The choice of plants and lack of natural prey are expected to keep unwelcome species such as rats, Canada geese and seagulls away.

But Hemstock said weeds, which he prefers to call “volunteer species,” will be allowed to float on to the roof as long as they’re not too invasive. Dandelions are fine; knotweed is not.

“It’s self-maintaining and it will grow and change as the plants want to,” said Hemstock.

A 43-kilometre irrigation system, designed to conserve water, is fuelled by so-called black water, the building’s sewage that will be treated on site to a potable state. The auto-sensor is programmed to turn on if the plants wilt and only in the summer months.

No chemical fertilizers will be used and the grasses will be cut every fall and the clippings left for mulch.

If there are leaks in the 30-year membrane, the irrigation system’s auto-sensor will locate them for quick repair, said Hemstock.

© The Vancouver Province 2008

 

Warp drive no longer a sci-fi fantasy, scientists say

Saturday, August 16th, 2008

Sun

British researchers devise theory that would allow spaceships to travel faster than speed of light without breaking laws of physics

LONDON Two physicists have boldly gone where no reputable scientists should go and devised a scheme to travel faster than the speed of light.

The advance could mean that Star Trek fantasies of interstellar civilizations and voyages powered by warp drive are now no longer the exclusive domain of science fiction writers.

Gerald Cleaver, an associate professor of physics at Baylor, and Richard Obousy have come up with a new twist on an existing idea to produce a warp drive that they believe can travel faster than the speed of light, without breaking the laws of physics. In their scheme, published in the Journal of the British Interplanetary Society, a starship could “warp” space so that it shrinks ahead of the vessel and expands behind it.

By pushing the departure point many light years backwards while simultaneously bringing distant stars and other destinations closer, the warp drive effectively transports the starship from place to place at fasterthan-light speeds.

All this feat requires, says the study, is for scientists to harness a mysterious cosmic antigravity force, called dark energy.

Dark energy is thought to be responsible for speeding up the expansion rate of our universe as time moves on, just like it did after the Big Bang, when the universe expanded much faster than the speed of light for a very brief time.

This may come as a surprise since, according to relativity theory, matter cannot move through space faster than the speed of light, which is almost 300 million metres per second. But that theory applies only to unwarped “flat” space. And there is no limit on the speed with which space itself can move.

In the scheme outlined by Cleaver dark energy would be used to create the bubble. “Think of it like a surfer riding a wave,” said Cleaver. “The ship would be pushed by the spatial bubble and the bubble would be travelling faster than the speed of light.”

The new warp-drive work also draws on “string theory”, which suggests the universe is made up of multiple dimensions. We are used to four dimensions — height, width, length and time — but string theorists believe that there are a total of 10 dimensions and it is by changing the size of this 10th spatial dimension in front of the space ship that the Baylor researchers believe could alter the strength of the dark energy in such a manner to propel the ship faster than the speed of light.

Wireless gadgets go green

Saturday, August 16th, 2008

Sun

Perfection V200 Photo Scanner, Epson

Satellite L300 and Satellite L350 laptop computers, Toshiba

1. Green Wi-Fi routers, D-Link, from $150 to $360

Go wireless green with D-Link’s new line of routers that can save up to 40 per cent in power usage. D-Link’s Green Ethernet technology automatically detects the link status and network cable length and adjusts power according to that. Wi-Fi scheduling lets you program when the Wi-Fi signals are turned on and off, to cut back even more on power use. The green routers include D-Link’s Xtreme N Gigabit Router DIR-655 at $150, D-Link Xtreme N Duo Media Router, DIR-855 at $360, and the Xtreme N Gaming Router DGL-4500 at $240. www.dlink.com.

2. Perfection V200 Photo Scanner, Epson, $90

Combining automatic scanning and 4,800-dpi resolution, this will scan images to e-mail, copy photos and documents, scan film, and restore faded colour photos. It has a built-in transparency unit feature to scan slides and negatives. www.epson.ca.

3. USB e-Buddy, Kinlan, $20

As your own personal MSN emote buddy, this three-inch cutie sits on your desk and translates the emoticons in your messages. A heart emoticon prompts your little pal’s head to glow while it twists and flaps. A blushing emoticon makes it — you guessed it — glow red. When a contact is online, your little buddy’s heart glows red in his chest. Somewhat saccharine, we’re not certain we’d put this on a desk in the office, but we know a lot of MSN-ers who’d say, “Aahhhhh” in that “isn’t that sweet” kind of way. www.kinlan.com.

4.. Satellite L300 and Satellite L350 laptop computers, Toshiba, starting at $630

Toshiba has announced its new Satellite lineup in time for back-to-school shopping, and these are the lower-priced entry-level models. Not as light or powerful as the higher-priced Satellites, but they have all the staples you need to replace a clunky desktop in a dorm room with a laptop. www.toshiba.ca.

© The Vancouver Sun 2008

 

Cautious consumers put a dent in B.C. real estate sales for July

Saturday, August 16th, 2008

B.C. housing sales at lowest level since start of decade

Derrick Penner
Sun

‘B.C. households are now cautious about making major purchases in light of uncertainty around fuel prices and other inflationary pressures,’ says Cameron Muir of the B.C. Real Estate Association. Photograph by : Vancouver Sun files

Cautious consumers across the province caused real estate sales to drop to their lowest level in July since the start of the decade, the B.C. Real Estate Association reported Friday.

Sales through the Multiple Listing Service (MLS) were down 37 per cent to 6,541 units compared to July a year ago. The total value of those sales dropped 38 per cent to $2.9 billion compared with July 2007.

Cameron Muir, the B.C. Real Estate Association chief economist, said the rising number of new listings being added to inventories of unsold homes also put a slight downward pressure on prices.

Although provincial inventory was up 63 per cent in July to 60,008 units, the average price of a B.C. home in July was $444,358, down only 0.5 per cent from the same month a year ago.

“We’re seeing consumer demand fall off the high levels we saw last year,” Muir said in an interview, “and a lot of that is being brought on by low consumer confidence.”

There are weak spots in the economy, Muir added, but generally employment and income growth are still continuing at a healthier pace than in other parts of the country, which he believes will hold up demand for housing.

Still, Muir said uncertainty, brought about by the shock of rising fuel prices and other factors are weighing on the minds of buyers.

Besides the falling home sales, Muir said automobile sales have come down and retail sales have slowed.

“That’s a signal that the consumer is re-evaluating their financial position or household budget,” he added, “and that has an impact on the overall economy.”

Carol Frketich, regional economist for the Canada Mortgage and Housing Corp., said that flagging consumer confidence might swing back if people see the overall economy still performing well.

“B.C. was one of the few provinces to add jobs [to its economy in July],” Frketich said. “We’ve got an unemployment rate of 4.4 per cent and job growth of 2.7 per cent. It’s not like we’re in a recession. We’re not shedding jobs.”

Canada Mortgage and Housing, also on Friday, released its revised forecast for new-housing construction.

For B.C., Frketich’s estimate is for fewer new-home starts this year; however, she raised her expectations from the forecast CMHC published in February because of higher than expected levels of multi-unit housing construction so far this year. The revised CMHC forecast estimates builders will have started work on 35,800 new homes by the end of 2008, up from February’s forecast of 33,250.

Next year, Frketich still forecasts a decline in new-home construction to 31,700 units, partly driven by rising inventories in real estate’s resale markets.

“The resale market is much better supplied,” Frketich said, “and there will be less spillover [of demand] into the new housing markets.”

She added that the 31,700 level is much closer to the level of new-housing construction that would be suggested by provincial population growth alone, which she estimates to be in the 29,000 to 30,000 range per year.

Muir added that he expects inventory levels to decline over the next several months, but “most B.C. regions will remain in buyers’-market territory for the remainder of 2008.”

To the end of July, the B.C. Real Estate Association said MLS sales across the province were down 24 per cent compared with the same period in 2007.

The total value of residential real estate sold through MLS was $23.2 billion, down 18 per cent from the first seven months of 2007.

© The Vancouver Sun 2008

Vancouver’s July home sales drop 44% from last year

Friday, August 15th, 2008

Listings are up and prices are declining across most of the country

Garry Marr
Sun

There were few exceptions in the cooling of Canadian housing markets in July, the Canadian Real Estate Association reported Thursday, with its major markets showing an 11-per-cent drop from the same month a year ago.

In the meantime, new listings rose 11.3 per cent, and prices in some markets showed significant declines.

In Metro Vancouver, a 44-per-cent drop in sales and corresponding 23-per-cent rise in listings caused the average home price to fall 0.7 per cent from July a year ago to $575,730.

Nationally, the Canada Real Estate Association said the average price of a home sold in Canada‘s top 25 markets last month was $327,020, a 3.6-per-cent decline from a year ago. It’s the second year-over year drop after the June numbers fell 0.4 per cent.

The biggest pullback, however, was in Alberta.

In Calgary, the average MLS property sale in July dipped to $413,371, a 10.1-per-cent decline from a year earlier. Overall sales in Alberta‘s largest city also fell 13.1 per cent from a year ago.

In Edmonton, the average price dropped eight per cent from a year ago to $344,636. Sales were up 12.4 per cent. About a year ago, it was not uncommon to see price increases of 50 per cent in both cities, a fact that propelled Calgary‘s average sale prices past Toronto last year.

The news comes after Canada Mortgage and Housing Corp. said Tuesday that new home construction was down 13.6 per cent in July from a month earlier, reaching its lowest level in almost a year. Statistics Canada also said new home prices grew by only 3.5 per cent in June from a year earlier. It was the slowest rate of the growth since March 2002.

“The combination of a larger inventory of homes for sale and fewer home sales means less upward pressure on home prices in many markets,” says Calvin Lindberg, president of the Association.

“The challenge for many sellers is determining the right price for today’s market conditions. There is no doubt the Canadian real estate market is pulling back from record sales and price increase levels of 2007.”

There were few exceptions to the trend in the major markets, which saw July sales dip 11 per cent from a year earlier. At the same time new listings rose 11.3 per cent.

Greater Vancouver sales continue to drop, with the number of units changing hands in July at 2,284, a 43.5-per-cent drop from a year ago. New listings jumped 22.6 per cent in July from a year ago. The result was Vancouver home prices actually fell 0.7 per cent in July from a year earlier, though it is still the most expensive market in the country with an average price of $575,730.

Toronto did not fare much better. Sales in the country’s largest city fell 12.4 per cent from a year ago while new listings jumped 17.8 per cent last month from July 2007. Prices in Toronto rose a meager 1.5 per cent to an average of $371,410.

The only market still on fire is Regina, where the average price of homes sold in July was $247,030, a 35.7-per-cent increase from a year ago. But there are telling signs there, too, with sales off 37.1 per cent from a year ago and new listings up 27.9 per cent.

© The Vancouver Sun 2008

 

House prices in Vancouver fell by almost one per cent in the past year

Friday, August 15th, 2008

Market doing fast fade

Garry Marr
Province

House prices in Vancouver fell by almost one per cent in the past year

TORONTO — The Canadian housing market got another dose of bad news with new statistics showing home prices are falling fast, led by a pullback in Alberta.

The Canada Real Estate Association says the average price of a home sold in Canada‘s top 25 markets last month was $327,020, a 3.6-per-cent decline from a year ago.

It’s the second year-over-year drop after the June numbers fell 0.4 per cent.

The news comes after Canada Mortgage and Housing Corp. said Tuesday that new-home construction was down 13.6 per cent in July from a month earlier, reaching its lowest level in almost a year.

Statistics Canada also said new-home prices grew by only 3.5 per cent in June from a year earlier.

It was the slowest rate of the growth since March 2002.

The malaise in housing is now clearly being felt across most of the country, but nowhere more keenly than Calgary and Edmonton.

In Calgary, the average MLS property sale in July dipped to $413,371, a 10.1-per-cent decline from a year earlier. Overall sales in Alberta‘s largest city also fell 13.1 per cent from a year ago.

In Edmonton, the average price dropped eight per cent from a year ago to $344,636. Sales were up 12.4 per cent.

About a year ago, it was not uncommon to see price increases of 50 per cent in both cities, a fact that propelled Calgary‘s average sale prices past Toronto last year.

“The combination of a larger inventory of homes for sale and fewer home sales means less upward pressure on home prices in many markets,” says Calvin Lindberg, president of the association.

“The challenge for many sellers is determining the right price for today’s market conditions,” Lindberg said.

“There is no doubt the Canadian real-estate market is pulling back from record sales and price increase levels of 2007.”

There were few exceptions to the trend in the major markets, which saw July sales dip 11 per cent from a year earlier.

At the same time new listings rose 11.3 per cent.

Greater Vancouver sales continue to drop, with the number of units changing hands in July at 2,284, a 43.5-per-cent drop from a year ago.

New listings jumped 22.6 per cent in July from a year ago.

The result was Vancouver home prices actually fell 0.7 per cent in July from a year earlier, though it is still the most expensive market in the country with an average price of $575,730.

Toronto did not fare much better. Sales in the country’s largest city fell 12.4 per cent from a year ago while new listings jumped 17.8 per cent last month from July 2007.

Prices in Toronto rose a meagre 1.5 per cent to an average of $371,410.

The only market sill on fire is Regina, where the average price of a home sold in July was $247,030, a 35.7 per cent from a year ago.

But there are telling signs there, too, with sales off 37.1 per cent from a year ago and new listings up 27.9 per cent.

— Financial Post

© The Vancouver Province 2008