The Bank of Canada has held its policy rate at 2.25%, bringing some stability as we head into the fall real estate market. But interest rates are only one part of the picture.

September often brings a little more energy back to the market as summer holidays wind down and people return to their regular routines. More activity, however, does not necessarily mean a dramatically different market.

For sellers: More buyers may return this fall, but they remain selective. Preparation, presentation and accurate pricing will continue to matter. Buyers need to see the value.

For buyers: Greater selection and less urgency can work in your favour. You may have more time to compare homes, complete your due diligence and negotiate thoughtfully. If the right property appears, waiting for rates or the market to change may not necessarily produce a better opportunity.

For homeowners thinking about moving: You don’t need to know exactly when you’ll make a move to start preparing. Understanding what your current home may be worth, what your next home could cost and what needs to happen before selling can make the eventual transition much easier.

Here in North Vancouver and across the North Shore, conditions can vary considerably by property type, price range and neighbourhood. A condo in Lower Lonsdale may be experiencing a very different market from a detached home in Lynn Valley, Edgemont Village or Deep Cove.

Rather than trying to predict the next interest rate move or the perfect time to buy or sell, we encourage clients to focus on the market we actually have and make decisions based on their own timing and goals.

September feels like a fresh start. Whether you’re planning to buy, sell or simply keeping an eye on the market, it’s a good time to get informed, get prepared and be ready when the right opportunity presents itself.

Wondering what today’s North Vancouver or North Shore market means for you? The Botto Team is always happy to help you look at the numbers and understand your options.

A 9-part series on the District of North Vancouver’s new residential zoning rules.

Part 1 of 9: Has the Zoning on Your North Vancouver Property Changed?

The District of North Vancouver is undertaking one of its biggest zoning updates in decades, and for thousands of homeowners, the letters attached to their property are changing.

As part of the first phase of the zoning rewrite, the majority of the District’s existing single-family residential zones are being consolidated into two new detached residential zones:

R1 – Rural and Suburban Detached Residential
Generally applies to properties outside the Urban Containment Boundary.

R2 – Urban Detached Residential
Generally applies to properties inside the Urban Containment Boundary.

Approximately 19,693 properties inside the Urban Containment Boundary are moving to R2, while approximately 219 properties outside it are moving to R1.

The objective is to replace a complicated collection of older zoning categories with a simpler framework. But although the zoning names are becoming simpler, the rules themselves contain some important changes.

What does this mean for my property?

Your new zoning designation could affect how a future home is designed, whether a coach house can be built, how basement space is treated, permitted building height, setbacks, landscaping and more.

It is also worth remembering that zoning is only one part of the equation. Lot size, slope, environmental restrictions, parking requirements and the location of an existing home can all affect what is ultimately possible.

If you own a detached home in the District, this is a good time to find out what your property is zoned today — not simply rely on what it was zoned when you bought it.

Thinking about how these zoning changes may affect your neighbourhood?

Explore our North Vancouver community guides for more information about homes, local amenities and real estate in Lynn Valley, Central Lonsdale, Lower Lonsdale, Deep Cove, Edgemont Village and other North Vancouver neighbourhoods.

Next week: Thinking About Rebuilding? North Vancouver’s Basement Rules Are Changing.

This article is a general summary and is not intended as legal or planning advice. Property-specific requirements should always be confirmed with the District of North Vancouver.

Shipyards Night Market — September 4 & 11
The last two Friday Night Markets of the season, with live music, food trucks, local makers and the waterfront beer garden. Free admission at The Shipyards from 5pm

Walks With History: Lower Lonsdale — September 6
A guided MONOVA walking tour exploring the people, places and stories of Lower Lonsdale from 3–4pm

Polish Festival Vancouver — September 12
A celebration of Polish culture, food, music and entertainment at Shipyards Commons, running from 1–9pm

North Shore Kids Fest — September 13
A free family festival at The Shipyards featuring young performers, a young entrepreneurs market, activities and entertainment for kids from 12noon-9pm

Dates and programming can still change so please check the respective links for more information closer to the event.

1. Take a good look at your roof
You do not necessarily need to climb up there. From the ground, look for missing or damaged shingles, moss buildup, damaged flashing or anything that looks different from last year. If the roof is getting older or you have noticed any signs of leakage, August is a much nicer time to have it inspected than November during the first major rainstorm.

2. Clean gutters and check downspouts
Leaves haven't all fallen yet, but gutters can already contain needles, moss and debris. Make sure water can move freely and that downspouts discharge away from the foundation. On the North Shore, where we get so much rain, this one is particularly important.

3. Walk around the house and think about drainage
Look for areas where soil has settled, drains are blocked or water could pool beside the house. Clear catch basins and perimeter drains where accessible, and make sure landscaping isn't directing water toward the foundation.

This could be one of your strongest points because homeowners often don't think about drainage until there is a problem.

4. Check exterior caulking and seals
Have a look around windows, doors, exterior penetrations and siding. Cracked or missing caulking is relatively inexpensive to address but can allow moisture into places you really don't want it.

5. Service the furnace or heat pump
Before everyone switches the heat back on, change or clean filters and consider booking routine servicing. It is also a good time to check thermostats and make sure vents aren't blocked by furniture.

6. Deal with the fireplace before you want to use it
If you have a wood-burning fireplace, chimney or gas fireplace that hasn't been serviced in a while, deal with it now rather than the first cold weekend of the year.

7. Give decks, stairs and railings a once-over
Look for loose boards, rotting wood, peeling finishes, unstable railings or areas where water tends to sit. Late summer is still a good window for staining, sealing and exterior repairs.

8. Trim back trees and landscaping
Cut vegetation away from the house, roof and gutters. Check for branches that could become troublesome during fall windstorms and make sure exterior drains aren't hidden underneath overgrown plants.

You could also mention that larger tree work is best left to a qualified arborist.

9. Look for the little things you've been ignoring
A dripping exterior tap, slow drain, cracked seal, loose handrail, small stain on a ceiling or musty smell may seem insignificant now. Small clues are often much easier and less expensive to investigate before they become larger problems.

Pay Particular Attention to Water - Gutters, drains, grading, roofs, caulking and vegetation all come back to the same issue here: keeping our considerable rainfall outside the house and moving away from it.

Keep a record of the work you do.

Receipts, warranties, servicing records and invoices are worth keeping. They help you maintain the home properly, and if you eventually sell, they can also give a buyer useful reassurance that the property has been cared for.

Homes rarely need everything done at once. The trick is noticing the little maintenance items early and dealing with them before our wet West Coast weather turns them into something bigger.

Five questions worth asking before you decide.

“Maybe we’ll just wait until the market gets better.”

We are hearing some version of this from a lot of homeowners right now.

And it is an understandable thought. Buyers have more choice, homes are taking longer to sell in some segments and prices have softened from previous highs.

But before deciding to wait, there is another question worth asking:

What exactly are you waiting for?

Trying to perfectly time the bottom — or the top — of a real estate market is almost impossible. We usually only recognize those moments after they have passed.

So rather than trying to predict what the market may do six months from now, I think there are some better questions to ask.

Why are you thinking about moving?

If the idea of selling is being driven by a change in your life — downsizing, needing more space, a job change, family circumstances, finances or simply wanting something different — it is worth considering how important that move is to you.

Real estate decisions are not made on a spreadsheet alone.

Your life has a timeline too.

Waiting may absolutely make sense, but putting a plan on hold indefinitely in the hope of a better market is not always the best answer either.

What are you buying next?

This is one of the most important parts of the equation and one homeowners sometimes overlook.

If you are selling and buying in the same market, a softer market can work both ways.

You may receive less for your current home than you would have at the height of a strong seller’s market, but you may also have more choice, less competition and greater negotiating power when you buy.

The number that matters is not always simply what you sell for.

It is the difference between what you sell for and what you have to pay for the next home.

For someone moving up, downsizing or changing neighbourhoods, that gap can sometimes matter far more than the sale price on its own.

What is happening with homes like yours?

Real estate is extraordinarily local.

The market for a renovated two-bedroom condo in Lower Lonsdale can behave very differently from the market for a detached home elsewhere on the North Shore.

Before deciding whether to sell now or wait, I would want to know:

• What similar homes are currently for sale?

• What has actually sold recently?

• How long are those homes taking to sell?

• Have sellers had to reduce their prices?

• What are buyers choosing — and what are they passing over?

• Where would your home realistically sit amongst those options?

That tells us far more than a headline about “the market.”

Buyers today have more opportunity to compare. As a result, the difference between the homes they respond to and those they pass over has become much more noticeable.

Condition, presentation and especially price matter.

What would have to improve for waiting to be worthwhile?

This is perhaps the most useful question of all.

Are you waiting for prices to rise?

For interest rates to fall?

For there to be fewer competing listings?

For your own circumstances to change?

Once you define what you are actually waiting for, it becomes much easier to decide whether waiting is a strategy — or simply uncertainty.

The market may improve six months from now. It may also remain relatively flat, or your particular type of property may behave differently from the broader market.

We simply do not know.

What we can know is what your home is likely worth today, what you would be competing against, what your next purchase might cost and whether the overall move works for you.

So, should you sell now?

For some people, yes.

For others, I would tell them to wait.

The answer depends on your property, your financial position, what you hope to buy next and, most importantly, why you are considering moving in the first place.

My job is not to convince you that now is always the right time to sell.

It is to give you a clear picture of what your home is likely worth today, what is happening with comparable properties and what the opportunities and risks look like on both sides of your move.

From there, you can make a decision based on good information rather than trying to predict the market.

And sometimes, after looking at all of that, the right advice really is:

Not yet.

If you have put your home search on hold because you are waiting for mortgage rates to fall significantly, there is one question worth considering:

Will waiting actually put you in a better position to buy?

Mortgage rates may decline over time, but there is no guarantee they will fall as quickly — or by as much — as buyers hope.

And rates are only one part of affordability.

Lower rates do not necessarily mean a better buying opportunity

If mortgage rates fall, monthly borrowing costs may improve.

But other things can change at the same time.

More buyers may return to the market. Competition can increase. Sellers may become less negotiable. And the home you want may cost more.

Today's market, by comparison, is giving many buyers something they have not always had: choice, time and negotiating room.

That can have real value.

Rather than asking only, “Will mortgage rates be lower next year?”, a better question may be:

“Will I be in a meaningfully stronger financial and purchasing position if I wait?”

Look at the whole purchase, not just the rate

A small change in mortgage rates is only one number in a much larger equation.

Purchase price, down payment, monthly payment, property taxes, strata fees, closing costs and your own financial comfort all matter.

The lowest mortgage rate is not necessarily the best mortgage either. Fixed and variable options, term length, prepayment privileges, penalties and flexibility can all affect what makes sense for you.

This is where a good mortgage professional can be invaluable.

There may be opportunities in today's market

When buyers have more choice, they can often take more time to compare properties, review documents carefully and negotiate with greater confidence.

That doesn't mean you should buy simply because the market is quieter.

It does mean that waiting for a particular interest rate could cause you to overlook an opportunity that works well for you today.

Sometimes negotiating a better purchase price can have as much — or more — impact than waiting for a modest change in borrowing costs.

Preparation matters more than prediction

No one can tell you exactly where mortgage rates will be six or twelve months from now.

What you can know is:

• what you comfortably qualify for today;

• what your monthly payment would be;

• how much cash you need for your down payment and closing costs;

• what homes are available within that budget; and

• how buying now compares with waiting.

And qualifying for a certain amount does not mean you need to spend it.

The goal should always be a purchase that works comfortably within your finances and longer-term plans.

So, should you wait?

Sometimes, absolutely.

Waiting may make sense if it allows you to build a larger down payment, reduce debt, improve your income stability or become more certain about where and what you want to buy.

But if the only reason you are waiting is because you are convinced mortgage rates will be significantly lower soon, it may be worth revisiting that assumption.

There is no perfect interest rate and there is rarely a perfect market.

The better strategy is to understand what you can comfortably afford, know what opportunities exist today and compare the advantages of buying now with the possible benefits of waiting.

Then you can make the decision based on your life and your finances — rather than trying to predict where rates will go next.

On July 20, 2026, District Council adopted the new R1 and R2 residential zones, part of the broader rewrite of a zoning bylaw that dates back to 1965.

1. What has actually changed?

The District has been undertaking a comprehensive rewrite of its zoning bylaw. One objective is to simplify a system that had accumulated many different residential zones over decades. The District has said that 19 existing single-family residential zones are being consolidated into two principal residential zones, R1 and R2.

For homeowners, the important part isn't the name of the zoning bylaw. It's understanding what can now be built on your property.

2. Does this mean every property can suddenly be redeveloped?

This is an important misconception to address.

No. Zoning establishes what may be permitted; it doesn't mean redevelopment will necessarily happen. The District itself makes the distinction that zoning creates the opportunity, while actual redevelopment depends on many other things, including market conditions, construction costs and the economics of the property.

3. What could the changes mean for homeowners?

Depending on the property, zoning can affect things such as:

• the number of homes permitted on a lot

• secondary suites

• coach houses

• the size and form of a new home

• setbacks and building coverage

• opportunities for multi-generational living

• redevelopment potential

The District has specifically described its residential work as supporting more diverse housing, including opportunities for aging in place and multigenerational living.

Every property is different, and the opportunities available will depend on the lot, its zoning and other District requirements. The key is understanding what may be possible for your particular property.

4. Could this affect the value of my property?

Potentially — but zoning is only one component of value. Lot size, location, topography, access, servicing, construction costs and what buyers are actually prepared to pay all matter.

Having additional development potential doesn't automatically mean your property is worth dramatically more.

For certain properties, however, what can legally be built on the land can absolutely become relevant when determining market value.

5. How do I find out what applies to my house?

The District now provides a residential zoning map and information to help homeowners determine the zoning and the permitted size, location and dimensions of buildings on a property.

If you're curious about your property, don't assume that what was possible five or ten years ago is still the whole story. Before renovating, rebuilding — or deciding what your property may be worth — it is worth checking the current zoning.

Curious what the changes mean for your property?

We are always happy to help you look at the zoning, recent neighbourhood sales and how a property's redevelopment potential may — or may not — affect its current market value.

There is a lot more to unpack in the District’s new zoning rules. Starting September 3, we’ll be taking a closer look at one change each week in our new series, What Does This Mean for My Property?, including basements, coach houses, suites, garages, building height and more.

Shipyards Night Market

Fridays: August 7, 14, 21 and 28
Enjoy live music, food trucks, local makers and the beer garden along the waterfront. Admission is free.
https://shipyardsnightmarket.com/?utm_source=chatgpt.com

Long Summer Nights

Saturdays throughout August
The Shipyards hosts free themed evenings featuring live entertainment, family activities, circus workshops, lawn games, youth DJs and waterfront views.
https://www.cnv.org/Parks-Recreation/Annual-Events/Long-Summer-Nights?utm_source=chatgpt.com

Lunchtime Live

Tuesdays in August
Pack a lunch and enjoy a free midday musical performance at Civic Plaza.
https://www.cnv.org/Parks-Recreation/Annual-Events/Lunchtime-Live

Movies on the Mountain

August 6, 12, 20 and 27
Watch a movie under the stars at Grouse Mountain’s outdoor Birds in Motion area. Mountain admission or event ticketing may apply.
https://www.grousemountain.com/events/movies-on-the-mountain-jurassic-park-9b384cfa-bfbd-4d34-8c0c-ec1d6653ec8d

MONOVA After Hours

Thursday evenings, 5:00–8:00 p.m.
Explore the Museum of North Vancouver with pay-what-you-can admission—a relaxed option for families, date night or an evening downtown.
https://monova.ca/events/

 NOTE: Event details and lineups can change, so readers should confirm times before heading out.

Summer is a great time to tackle the parts of your home that are easier to inspect, clean and repair while the weather is dry. A little attention now can help prevent bigger issues once fall rain and cooler temperatures return.

Start with the roof, gutters, and drainage. Check for loose shingles, debris in gutters, blocked downspouts, or areas where water may not be moving away from the home properly. Even in summer, a sudden downpour can quickly reveal drainage problems.

It is also a good time to look at windows, exterior caulking, siding, decks and railings. Heat and sun can dry out seals, paint and exposed wood, so look for cracking, peeling, soft spots or areas that need touching up. Small repairs now can help prevent moisture intrusion later.

Homeowners should also pay attention to landscaping and vegetation. Trim trees and shrubs away from the house, roofline, gutters and exterior vents. This helps with airflow, reduces pest access and keeps branches from causing damage during wind or rain.

Inside the home, summer is a smart time to service fans, heat pumps, air conditioning systems and ventilation. Clean filters, check airflow and make sure systems are running efficiently before the hottest days arrive.

Finally, do a quick safety check: test smoke and carbon monoxide detectors, inspect exterior lighting, clean dryer vents and make sure outdoor stairs, paths and railings are secure.

Explore Lynn Canyon
A classic North Shore outing: forest trails, the suspension bridge, creek views, and picnic spots. Great for burning energy without spending a dollar.

Visit local spray parks and playgrounds
Perfect for hot days. Pack snacks, towels, and sunscreen, and make it an easy afternoon out. Check the City/District websites before going, as hours and water restrictions can change.

Do a Shipyards wander
The Shipyards is great for kids even without paid activities: open space, waterfront views, public art, people-watching, and room to move around. There are also free summer events and concerts through North Vancouver Recreation & Culture. Every Friday through September 11.

Try a library activity
North Vancouver and West Vancouver libraries often offer free children’s programming, storytimes, reading clubs, craft sessions, and family-friendly events. These are especially good for younger kids or rainy days.
Monday Fundays at Lynn Valley Village — Mondays, 2–3 pm
This is a free family-friendly pop-up in the plaza every Monday in July and August, with hands-on crafts and giant games. A nice one for families looking for easy, no-cost summer activities.

Go on a nature scavenger hunt
Choose a local trail, park, or beach and have kids look for things like a feather, smooth rock, yellow flower, bird, pinecone, bridge, or interesting leaf. Easy, free, and surprisingly entertaining.

Visit Capilano River Regional Park / Cleveland Dam
A great mix of trails, big views, forest, and open space. The Capilano Salmon Hatchery is also nearby and is a fun educational stop.

Spend time at Ambleside or Dundarave Beach
Bring buckets, snacks, bikes, scooters, or a picnic blanket. Kids can beachcomb, watch boats, play at the park, or walk the Seawall.

Walk or bike the Spirit Trail
Flat, scenic, and family-friendly in sections. It is a good option for scooters, bikes, strollers, and a relaxed waterfront adventure.

Check out free or low cost community events
NVRC lists events including free summer concerts and community activities, and local family-event calendars often round up ongoing North Shore options like scavenger hunts, kids’ clubs, and seasonal events.

As expected, the Bank of Canada held its overnight lending rate at 2.25% today, marking the fifth consecutive rate hold.

While this announcement does not change much for current mortgage holders, it does give us something the market has been missing for a while: a little more predictability.

The Bank is still watching inflation, global uncertainty and ongoing U.S. trade concerns closely. For now, there is no strong signal that another rate cut is imminent — but there also does not appear to be immediate pressure to raise rates.

What Does This Mean for Buyers?

For first-time buyers who have been sitting on the sidelines waiting for rates to fall further, it may be time to revisit the conversation.

Five consecutive rate holds have created a more stable lending environment, making it easier to plan around your own finances rather than trying to guess what the Bank of Canada may do next.

Getting pre-approved does not mean you have to buy. It simply gives you a clear understanding of your budget, your monthly payments and what you would feel comfortable purchasing should the right home come along.

In today’s market, being informed and prepared can put you in a much stronger position than trying to perfectly time the next rate announcement.

Aluminum wiring is one of those things that can sound scarier than it actually is. For many buyers, seeing “aluminum wiring” on a listing, inspection report or insurance questionnaire can feel like an automatic red flag — but the reality is a little more nuanced.

Myth: Aluminum wiring means the home is unsafe.
Fact: Aluminum wiring is not automatically dangerous. The concern is usually not the wire itself, but whether the connections, outlets, switches and fixtures have been properly installed and maintained.

Myth: A home with aluminum wiring needs to be completely rewired.
Fact: Not always. In many cases, a qualified electrician can assess the system and recommend appropriate remedies, which may include approved connectors, proper terminations, copper pigtailing or replacement of certain devices. A full rewire may be the best solution in some homes, but it is not the only option.

Myth: Aluminum wiring is illegal in B.C.
Fact: Aluminum conductors are still used in some electrical applications today. The key issue is that the installation must meet code requirements and use materials approved for the specific purpose.

Myth: Insurance is impossible with aluminum wiring.
Fact: Insurance can be more complicated. Some insurers may ask for an electrical inspection, repairs or written confirmation from a licensed electrician before offering or renewing coverage. This is why it is important to deal with the issue early, especially if you are buying, selling or preparing a home for market.

The takeaway: Aluminum wiring should not be ignored, but it also should not cause panic. If a home has aluminum wiring, the best next step is to have it reviewed by a licensed electrician who understands B.C. requirements. With the right assessment and proper corrections, many homes with aluminum wiring can continue to be safe, insurable and marketable.

For your own backup: B.C.’s electrical code sets minimum requirements for safe wiring methods, grounding/bonding, overcurrent protection and installation standards and it is enforced by Technical Safety BC under the Electrical Safety Regulation.

Technical Safety BC also notes that additions or modifications to existing branch circuits must comply with the current BC Electrical Code, while existing adequate branch circuits may be reconnected subject to code rules.

The most important practical point is compatibility: Technical Safety BC has investigated incidents where aluminum conductors were connected to equipment not intended for aluminum, creating high-resistance connections and fire risk.