Small touches make for a big impact at Terraces at the Peak

Mary Frances Hill
The Province

Terraces at the Peak

Where: 8940 University Crescent, Burnaby

What: 117 homes in a 13-storey condo building

Developer and builder: Intergulf Development Group

Residence sizes and prices: Remaining homes are sub-penthouse and penthouses, from 1,140 — 1,345 sq. ft., starting at $1,059,900

Sales centre: 8940 University Crescent, Burnaby

Hours: noon — 5 p.m., Sat — Thurs

After Intergulf Development Group made its mark on Burnaby Mountain with two residential towers in 2004 and another in 2016, it would have been easy for the developer to maintain its status merely by mimicking the successful design of its first buildings with Terraces at the Peak, Intergulf’s new tower in the UniverCity community.

But the developer, along with interior designer Ian Wong, decided to focus on little things that could make a difference to buyers.
“We always like to have a special feature unique to each project,” says Ian Wong, principal of Lot30 Design. In this case, Intergulf and Wong focused on providing plenty of decorative storage and planning an efficient layout, to help homeowners take advantage of every bit of space.

 “We found at Terraces, for example, that homeowners love the shower niche,” he says, referring to the vignette display of the homes in the sales centre. “It may seem small, but [as far as] how people live, it was important for us to consider every detail.”

Those little details mean a lot to Shaadi Faris, Intergulf’s vice-president, who notes the smaller touches, like those niches and the level of decorative open shelving that sits just below the upper kitchen cabinetry.

 “There’s plenty of cabinet space for those items you want tucked away, but also beautiful display shelves for those kitchen gadgets you just want to show off.”

Wong also emphasizes the durability of the finishes. Resilient materials, he notes, “will ensure new home finishes will work with any décor buyers bring into the space and it will last over time.”

Terraces at the Peak will join Intergulf’s Novo 1, Novo 2 and The Peak developments, at Simon Fraser University’s UniverCity master-planned community on Burnaby Mountain. Terraces will stand at one of the highest points of land in Metro Vancouver. The community attracts downsizers from Burnaby and surrounding cities, and buyers with ties to SFU.

Many of the lower-priced homes at Terraces at the Peak were sold quickly; in fact, 80 per cent of the homes are now sold. Faris credits buyers’ recognition that they’re getting spacious homes for relatively lower prices, compared to surrounding areas of Coquitlam and Burnaby, for instance.

The developer can pass on value, thanks to its longstanding relationships with suppliers and partners, he add. “[They all] informed our decision-making throughout the process, from land acquisition to trusted suppliers who provide the highest quality materials at the best prices, allowing [us] to pass on the value to customers.”

© 2017 Postmedia Network Inc.

Steve Randall
REP

Demand for luxury property remains strong in many of Canada’s cities but for million-dollar condos one market has seen a huge surge.

Sales of homes priced $1 million or more increased in the first seven months in Victoria, and Calgary but it was the GTA where sales were up 85% year-over-year according to data from RE/MAX Ontario-Atlantic Canada.

The gain for GTA luxury homes was largely down to two effects of an overall increase in prices in the market. The gains pushed some condos over the $1m+ threshold, while Baby Boomers used equity in their homes to move into the luxury condo market.

The GTA also saw strong demand for luxury single-family detached homes with a 25% rise year-over-year in the first seven months of 2017 although there may be more readjustment following the introduction of the Fair Housing Plan.
Single-family homes priced over $3 million increased sales by 55%.

In the Toronto suburb of Oakville, the $2.5-3 million sector saw sales surge 112%.

Meanwhile Vancouver’s single-family home sales in the $1-2 million price range declined 32% year-over-year.

“The foreign buyer tax introduced last year—combined with a good selection of luxury single-family detached homes—reduced buyers’ sense of urgency in this segment of Vancouver’s market,” said Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.

Vancouver’s luxury condo market saw increased demand, rising 11% year-over-year and outpacing supply.

“As a result we are seeing more developers turn their attention to condo projects and are anticipating more luxury units to enter the market in the coming years,” added Ash.

Victoria’s $1m+ market gained 10% in the first seven months of the year relative to the same period of 2017, while Calgary saw a 21% gain as consumer confidence increased following the slump for the oil industry.

Copyright © 2017 Key Media Pty Ltd

Andrea Nazarian
REW

Rezoning applications have submitted for two residential developments in Vancouver’s West End, according to the City of Vancouver website. 

The first of the two is a proposed 39-storey market residential tower with a six-storey podium located on the southwest corner of Alberni Street and Bidwell street. Local developer Westbank Projects and Bing Thom Architects are responsible for the project. The tower has a rather striking architectural design, with the building’s outer structure mimicking the look of an exoskeleton.

“The profile of the exoskeleton creates a unique alternating pattern that literally steps up the building, thus allowing us to move away from the typical stratified or monolithic extruded towers design so prevalent in Vancouver, and for that matter, the rest of the world,” stated the design rationale.  

Four levels of underground parking, with 180 parking stalls and 120 bicycle parking spaces would be included in the Westbank tower.

The second development consists of two residential towers located at the corner of Harwood Street and Thurlow Street, and is being proposed by BlueSky Partners and Henriquez Partners Architects. According to the rezoning application, the North tower will be made up of 59 market residential units on floors 18-33 and 98 social housing units on floors 2-18. The second tower will have one less floor and be made up of 143 market residential units.  

“The proposed towers in a park are inspired by the clean modern lines of the West End character and contextual relationship to the surrounding fabric,” stated the BlueSky project description. “A modern minimalism that is designed as a complementary addition to the existing context, and an urban retreat for residents.”

© 2017 REW.ca

Owners say extra space for leisure, not rooms, can be the key to more bookings and higher profits

Tyler Nyquvest
Western Investor

An Okanagan resort is hoping to curb the trend of overcrowded resort venues by reducing volume to increase profit.

And it is not alone.

Cozy Cabins Nature Resort, located west of Vernon in Creighton Valley, is incorporating recent feedback from guests and emerging industry trends in the industry to take a new direction with the business, said resort marketing manager Erik Hatterscheidt.

“[The idea] came out of the fact that when we were developing our resort, we built our cabins a little bit differently than a lot of other resorts out there by spacing them farther apart, spreading them over our 60 acres,” said Hatterscheidt.

“We were finding that a lot of guests were booking in with us because of that reason, that extra space.”

Because Cozy Cabins is between Vancouver and Calgary, Hatterscheidt noticed that family reunions were commonplace at the resort and neighbouring competitors.

“We found that when [large groups] came in together … it changed the whole dynamic of the resort, so we started turning them away,” said Hatterscheidt.

“Most of the resorts around us make their bread and butter from those types of family reunions. We started saying no to larger groups, which were a huge part of our income, and started booking small families.”

After surveying guests, Hatterscheidt discovered visitors would be much more willing to pay a premium for what they already had, minus the extra people.

Cozy Cabins increased its price range approximately 40 per cent with the main focus being quality over quantity. So far, the strategy has worked, said Hatterscheidt.

“Our profit margin went from an average of 15 per cent to 50 per cent. Our revenue has been growing significantly as well.”

The trend is becoming a staple to B.C. resorts as tourism numbers increase. Visitors are more interested in quiet, unobstructed landscapes commonly marketed in Canadian travel material.

“You cannot provide that kind of [serene] experience if you have any kind of volume,” said Laura Neubert, vice-president of business development at Clayoquot Wilderness Resort.

The West Coast resort features 25 luxury tents. The quality-over-quantity approach has always served the resort’s business strategy, said Neubert.

“It takes a lot of effort to deliver really unique, once-in-a-lifetime experiences to every single guest, and you can’t do that in great numbers.”

Clayoquot was recently named one of the world’s most expensive resort experiences. However, guests keep coming back because they’ll pay for the type of serenity associated with a lower-volume establishment, said Neubert.

Chris Moore, partner at Wilderness Resort and Retreat in Sechelt, said some resorts fail by design.

“In B.C., [some resorts] have so much land, [yet] they put their cabins 15 feet from one another.”

Wilderness Resort has 125 acres within a provincial marine park and, at any one time, the facility holds bookings to a limit of 50 guests.

“One of the things that attracted us to our property was that it was water access or float plane access. Getting there is part of the adventure,” said Moore.

Copyright © 2017 Western Investor

Joannah Connolly
REW

Even in the past couple of years, it used to be that although Vancouver’s home prices were expensive, the city ranked somewhere in the middle for average price per square foot when buying a condo, compared with other major global cities.

But since the latest price surges seen this year, this seems no longer the case, if the results of a new survey are anything to go by.

The Canadian office of international real estate brokerage Century 21 polled its agents in 75 cities in 27 countries around the world to compare the average price per square foot (APPSF) in both condos and single-family homes in the downtown areas of those cities.

At $1,172.80 APPSF, Vancouver condos came in sixth in the rankings.

Hong Kong proper came in first place at $2,330.81 APPSF, and this was followed by Hong Kong’s Kownloon area, Hong Kong’s New Territories, Al Khobar in Saudi Arabia, and San Francisco in fifth place at $1,454.57 APPSF.

New York came in seventh at $1,110.77 APPSF, and Toronto came in 12th place at $833.20 APPSF for downtown condos – a price comparable with Shanghai and Tokyo.

The brokerage also acknowledged the absence of sufficient data from London, UK, and Paris, France, to include those expensive cities in its price rankings.

Brian Rushton, executive vice-president of Century 21 Canada, told REW.ca that he was not surprised to see that Vancouver condos cost slightly more per square foot than those in New York.

“You have to consider that the New York condo calculations include many older units that tend to be a lot larger than those in Vancouver, and that reduces the average price per square foot,” he told REW.ca at a Century 21 Canada media event.

The brokerage also acknowledged the absence of sufficient data from London, UK, and Paris, France, to include those expensive cities in its price rankings.

Rushton added, “While Vancouver’s prices are no doubt expensive, we really rank in the middle of the pack compared with other major global cities.”

Single-family homes, which are typically more expensive than condos but have a lower APPSF due to economies of scale, saw a slightly different global ranking.

Vancouver came in eighth place at $824.47 APPSF for detached homes, with the same cities as in the condo rankings also beating out Vancouver for priciest houses (aside from Al Khobar), but with Beijing, Shanghai and Singapore also ranking as more expensive than Vancouver’s detached houses.

Toronto placed 14th most expensive for its single-family home APPSF, at $594.66.

See the top 30 rankings for both condos and single-family homes below.

© 2017 REW.ca

other

Buoyed by China’s consumer-driven travel boom, the upcoming 2017 October Golden Week – which runs from 1-8 October 2017 – already promises to be exceptional.

For starters, the October Golden Week coincides with Mid-Autumn Festival this year. That means mainland Chinese will be enjoying eight days of public holidays instead of the usual week-long break, thus contributing to the 10% increase in projected Chinese travellers.¹

Secondly, more than 6 million Chinese are expected to travel overseas during this period² – yet another unprecedented number driven by the burgeoning wanderlust among mainland Chinese, particularly with China’s millennials that currently number around 400 million.³

Thirdly, this Golden Week promises to be a sales bonanza because Chinese consumers’ buying confidence is at its highest point for more than two decades, bolstered by a strong job market and robust income growth.⁴

The official China Consumer Confidence Index hit 114.6 in July, its highest point in over 20 years.⁴

 

Countries vying for Golden Week Chinese travellers

Already, Golden Weeks of the past have been nothing short of a sales windfall for countries all over the world, with businesses in Japan and the UK raking in an estimated $830 million and $770 million, respectively, during the 2015 Golden Week period.

Even China UnionPay, China’s answer to Visa, has recently joined the fray to capitalise on Golden Week – UnionPay added thousands of payment terminals all over the world during the past year⁵, and is running a Special Offers Program that give its users discounts in Hong Kong, special offers in the US, and automatic tax refunds in 38 countries across the globe.

Alipay – Alibaba’s own Paypal-esque system and a favourite for China’s online retail-obsessed buyers – hasn’t been slacking either. Alipay is now available in 70 countries⁶ and handling some 14 different currencies, making it much easier for Chinese to shop till they drop at just about anywhere in the world. 

Clearly, this peak outbound travel period is also a window of opportunity that international agents and professionals targeting the Chinese market must not miss out on.

Chinese spent $5.07 trillion on retail alone last year⁷ – a clear indication of their colossal spending power, which over 6 million Chinese will be taking this spending power abroad this Golden Week. The biggest question, though, is which countries will benefit from this Chinese-driven sales bonanza?

While popular vacation hotspots, including Thailand, Japan, and the US will undoubtedly be on the receiving end, let’s not forget rising destinations like Vietnam and Morocco, which saw a 419% surge in Chinese arrivals since a visa exemption was launched in June 2016.⁸

Find out where Chinese travellers are heading to this Golden Week 2017 here.

 

Golden Week boost to Chinese outbound property investment

More importantly, we project that the National Day Golden Week this year could see that spending power stretch as far as real estate. Here are three reasons why:
 

#1 Growing incomes, connectivity, and visa access

According to data from the National Bureau of Statistics (NBS), disposable income per household in China rose 7.3% y-o-y in real terms during H1 2017, outpacing China’s GDP growth of 6.9% in the same period.⁹

As the Chinese earning power continues to grow, so does their spending and investment power. Rising incomes is one of the major factors propelling Chinese abroad, and other countries have been quick to catch on.

Not only are airlines increasingly adding new routes connecting China to global destinations, but governments all over the world are easing visa rules for Chinese as well in their bid to attract more Chinese outbound travellers, many who intend to property hunt while vacationing overseas.

A Juwai survey conducted earlier this year revealed that 57% of Juwai Chinese consumers plan to purchase property in the countries they are travelling to overseas.¹⁰

Considering Bloomberg Intelligence predicts Chinese will take nearly 70% more trips abroad in 2020 compared to 2015³, this bodes well for property markets and agents worldwide.

#2 Overseas markets offer better value

China’s property market is red hot, and the 20%+ price growth in cities like Shanghai, Beijing, Shenzhen, and Nanjing during 2016 made local property markets look beyond expensive, particularly compared with overseas markets.

With properties in locations like Canada, Panama, Spain, and Vietnam, being roughly between 30% and 60% cheaper than at home, it’s no wonder that mainland homebuyers consider overseas property to be highly attractive options for them from a value perspective.

#3 Domestic restrictions are pushing buyers overseas

Asides from sky-high housing prices, domestic restrictions in China on mortgages, higher taxes and bans on multi-home ownership have also made it harder than ever for Chinese to invest in the domestic property market.

Chinese buyers are even resorting to ‘irregular’ consumer loans to fund their property ownership dreams, including short-term personal loans like college loans or car loans, says E-House China R&D Institute.¹¹

Faced with such a landscape, it’s easy to understand why more and more Chinese are looking to purchase homes abroad, even in the face of capital controls.

And although some countries have imposed foreign buyer taxes or loan restrictions on foreigners, such as Canada and Australia, mainland property investors have been quick to adapt – many Chinese real estate investors remained unfazed by those restrictions, while others turned to set their sights onto other more affordable picks, such as Southeast Asia, particularly Thailand and Malaysia.
 

That said, with Golden Week just days away, we hope you’ve already ramped up your efforts and are well-prepared to welcome fly ‘n buy Chinese next week.

From offering Chinese-tailored property tours to utilizing these 10 tips to build trust and rapport with your Chinese buyers, be sure to make the most of what is shaping up to be one of the most lucrative sales seasons this year.

Sources: 1. China National Tourism Administration; 2. Ctrip 2017 National Day Golden Week Travel Trends Report; 3. Bloomberg: China’s millennials are driving world travel growth; 4. Bloomberg: China’s consumers haven’t been this confident in two decades; 5. Business Insider: UnionPay International initiates Special Offers Program for the National holidays; 6. Pymnts.com: Where in the world Is Alipay?; 7. National Bureau of Statistics of China: Total Retail Sales of Consumer Goods in December 2016; 8. TTG: China calls the shots; 9. China Daily: China’s per capita disposable income up 8.8%  in H1; 10. Juwai Chinese Buyer 2017 & Chinese New Year Travel Survey; 11. SCMP: As mortgages grow scarce in China, homebuyers turn to car and college loan, firm says;

2017 © Juwai. All Rights Reserved.

The new building code amendment will add up to 80,000 to the cost of a new single-family home

Andrew Duffy
Western Investor

The new B.C. Energy Step Code will add up to $80,000 to the cost of a new single-family house while having a minimal effect on energy efficiency, according to the Victoria Residential Builders Association (VRBA).

The Step Code is an amendment to the B.C. Building Code announced by the former Liberal government this April.

Local governments around B.C. are expected to implement the energy-saving changes. The Step Code is slated to come into force starting December 1, 2017.

The new code is designed to reduce the number of air changes – the number of times a home needs to be heated per hour. Under the current B.C. Building Code, a typical new house may average three to four air changes per hour.

But Casey Edge, executive director of the VRBA, said because the Step Code targets only new builds, which are already being built to high energy efficiency standards, there’s a lot of added cost without a lot of benefit.

“For an additional $26,000 [on the cost of building an average Victoria house] you get to knock off half an air change; for an additional $58,000 you can knock off two air changes compared to what we can do now,” he said.

Edge said the additional cost is likely to be wrapped into a mortgage and therefore will end up costing new homebuyers a lot more over the years. “In some cases they’ll never get their money back,” he said.

Edge said implementation of the new code is also a problem. As initially proposed, the Step Code would allow each of the province’s 162 municipalities a choice of which tier of the code to adopt.

“This implementation creates confusion, multiple building practices, undermines a uniform code and deviates from B.C.’s agreement with Ottawa to harmonize with the National Building Code,” Edge said in a letter to the premier.

According to a Ministry of Municipal Affairs and Housing spokesperson, the BC NDP government is not ready to comment on the code because it is still stepping up to speed on the issue.

Copyright © 2017 Western Investor

The inside track on mortgage investing

Canadian Real Estate Wealth

With returns ranging from 6% to 10%, depending on location, equity and scenario, it’s little surprise that mortgage investment corporations are becoming increasingly popular among Canadian investors. Mortgage Investment Corporations (MICs) also provide investors with a level of liquidity and flexibility that can be difficult to find in the alternative space.

The underlying assets of the MIC are fully secured by real estate, with properties that will be appraised and borrowers analyzed, and investors have the benefit in sharing the risk with the other investors of the fund along with the fund diversifying its risk across many mortgages.

“MICs are a great vehicle for Canadian investors right now, whether they are experienced or new to alternative investments,” says Bryan Jaskolka, VP of Canadian Mortgages Inc. (CMI). “It is a completely passive entity. When describing MIC investments, I make the comparison between an investment into a REIT and buying your own homes and managing them. With a MIC, there is no stress and no responsibility on the investor to do anything.”

A MIC is, essentially, an investment fund whose assets are made of carefully selected mortgages, just as traditional mutual funds buy stocks and bonds or a mix of the two. In most cases, MIC investors are paid a dividend distribution on a monthly or quarterly basis, and the better quality MICs provide regular performance reports. Many MICs also allow investors to choose between receiving a monthly income payment and re-investing for a monthly compounding effect, MICs insulate investors from the all of the operational aspects of the underlying investments in the fund

“There are no bounced cheques and no people to chase, because you’re invested in a pool of mortgages that continues to expand and grow,” Jaskolka says. “Even if a couple of mortgages within that pool do not perform as expected or have problems, the investor still receives a distribution provided there is surplus income in the fund.  While some mortgages may payout early and others may get extended, investors are completely insulated from all of the mechanisms of the underlying investments.”

The vast majority of investors don’t have millions of dollars to fund their own pool of mortgages. In utilizing a MIC, and buying into a larger pool of mortgages than they could create individually, investors are able to achieve a level of diversification that may be out of reach for them otherwise. By its very nature, a MIC socializes risk. An investor is just one share of a large fund, and even if the MIC loses money, the investor is only responsible for their specific pro rata share.

“Something that some MICs, likes ours, does it to put money away on a regular basis to build a loss reserve; it is similar to how banks work,” Jaskolka say. “Money is put aside in good times so that if there is a bad period, there is money to buffer against that. As a result, interest returns may not be impacted if there is enough of a buffer to absorb any future losses, and investor’s capital is further protected vs a direct investment in mortgages.”

Copyright © 2017 Key Media Pty Ltd

Neil Sharma
REP

Although rent control appears to be here to stay, a new report proposes meeting halfway with a rolling exemption of 10 to 15 years, before reintroducing rent control for the same period of time, and then scaling it back again.

The Federation of Rental-Housing Providers of Ontario (FRPO) and Urbanation joint report shed light on some of the pressures placed upon the rental market that’s resulting in short supply and high demand, and posits that, unless rectified, renting could be rendered as unaffordable as owning.

It also warns there’s an annual 6,250-unit shortfall, which is exacerbated by the absence of new purpose-built rental buildings, and that most of the new rental stock on the market are impermanent secondary units in condominiums proffered by investors.

A major reason for the dearth of new purpose-built rental buildings is — in spite of industry-wide acknowledgement that there’s an appetite for them — the provincial government’s reintroduction of rent control this past spring.

Jim Murphy, President and CEO of FRPO, says vacancy rates throughout the GTA are dangerously low, and that in Toronto, in particular, it risks falling below 1% — which could have devastating consequences.

“The vacancy rate is 1.3% in Toronto and 1% in the city’s condo rentals, so there’s a need for government to put in place regulations for new rental housing,” he said, adding that the federal government increased immigration levels to 300,000 newcomers a year, for which a third settle in the GTA and rent. “You can make the argument that with increased immigration you need increased supply.”

Murphy elucidated on the real impediment to owning – that incomes haven’t kept apace housing prices – making rentals the only panacea. Should supply remain stunted, rentals will no longer be affordable.

Urbanation’s vice president says relying on the condo market to provide rental supply is, at best, myopic. There will be a temporal boost in new condo supply over the next several years, but it will still be unstable. Moreover, with interest rates set to increase, condo rentals will become increasing transient.

“Investors in the new construction market are taking a more cautious approach to buying next year, maybe even into the later part of this year,” said Shaun Hildebrand. “Investors are paying prices that are 25% higher than last year, and with the interest rate going up they’ll be facing higher holding costs. They will eventually face costs rising faster than rent, so in the end, a five to 10 year condo investor turns into something shorter. This isn’t who you want to be your sole source of (rental) supply because a condo investor can always sell the unit.”

Both Hildebrand and Murphy said that the rental supply needs to double from its current levels – and immediately.

 “We were on the verge of an explosion in purpose-built rentals” before rent control was reintroduced, said Murphy. “We’re still going to see new ones, but we could have had a lot more. Now the majority of projects in the pipeline are transferring over to become condominiums.”

Copyright © 2017 Key Media Pty Ltd

Justin da Rosa
REP

The message has been sent: Anyone who publishes the Toronto Real Estate Board’s proprietary sold data can expect legal action.

The board has a history of swiftly squashing any individual or organization that tries to publish its sold data – this time targeting a data analyst in Toronto.

Shafquat Arafeen, a mid-twenties data analyst, was threatened legal action by TREB after publishing a visual trends report on the Toronto Housing Market using publicly available data.

Arafeen said his project was merely a bid to better understand the real estate market in Toronto. He also said he was surprised by the cease and desists sent by TREB.

“In the media you’re always hearing about a bubble or prices going up or down and I felt like the only source we had for that was TREB’s monthly postings,” he told REP. “So I wanted to look into the data a little more to be a little more educated. I came across a Chinese site that had house sale data; I figured I could aggregate it and do both data and statistical analysis on it. Mostly just for research and educational purposes.”

Arafeen’s data found a growing gap between an asking price and a sold price, where the sold price was higher than the asking price. Near the end of June, though, he found the numbers were converging.

He is unsure why the board targeted his site.

“When data is more accessible it benefits society as a whole,” he said.

Arafeen eventually received a cease and desist letter from TREB, which he published on his website. He has since taken the data down.

“Your  website provides  users with  access  to sold property  information for  residential  listings  in Toronto  and  the Greater Toronto Area.  The sold property information on your website (“the Work”) originates from the TREB MLS System, which comprises a database containing proprietary information of TREB,” the letter, reads. “TREB owns all right, title and interest, including copyright in and to the Work. 

“At no time were you or your website authorized or provided with consent by TREB to use or distribute TREB’s proprietary information,” it continues. “Downloading, procuring and reproducing the Work without written licence from TREB is an unauthorized use of TREB’s proprietary information and a breach of copyright.”

When reached for comment, a TREB representative refused to comment, citing the board’s policy of not commenting on legal matters.

This is the latest bid by TREB to protect its sold data.

Last year Fraser Beach, a Toronto-based agent with Select/Plan Real Estate and the publisher of torealestatesold.com, suspended the sales data section of his website after receiving a similar cease and desist from TREB.

At publication time, the website says it is temporarily suspended.

There has also been a long and public battle concerning the publication of TREB’s sold data.

Last summer, the Competition Bureau ordered the board to make its sold data public. However, TREB appealed the decision. A final ruling has not yet been made.

Copyright © 2017 Key Media Pty Ltd