March 2018

measures affecting bc real estate

Posted on Mar 28, 2018 in BC Real Estate

In its 2018 Budget, the provincial government announced a number of measures that will impact the real estate industry. Among the measures announced on February 20, 2018:

Changes to the Property Transfer Tax rate: the tax rate on residential properties above $3 million has increased from 3% to 5%, effective February 21, 2018.

Increase and Expansion o...

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greater market balance

Posted on Mar 28, 2018 in North Vancouver Homes

In North Vancouver February sale totals for detached homes decreased 34% from February 2017 and 37% below the 10 year monthly sales average of 92.  Furthermore, total year-to-date home sales at the end of February were down 28.5% compared to same two months last year.

New house listings increased 10.5% and total active listings at month-end were up 2...

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BC speculation tax

Posted on Mar 27, 2018 in Tips

On Monday, the provincial government announced it is making some changes to the speculation tax, which was first announced last month as part of the budget.

The government expects to introduce legislation in the fall to make the tax part of law and they say 99 per cent of British Columbians will be exempt from paying the tax. The tax will be applied...

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supply outstrips demand

Posted on Mar 26, 2018 in West Vancouver Homes

West Vancouver detached house transactions in February jumped from the month before, 24 versus 15 respectively, yet sales were 62.5% below the 10 year monthly average of 64.
In addition, house YTD sales, that is, from January 1 to February 28, were down 30% from same period in 2017.

New listings increased 34.5% and total inventory to month-end were u...

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sales dipped

Posted on Mar 25, 2018 in West Vancouver Strata

In West Vancouver buyer apartment activity dipped while inventory levels have increased.  

February apartment sales were down 48% from the month before and 20% below February 2017 however year-to-date sales are up 25% from 2017.  The month of February  12 sales  were 25% below the 10 year monthly average of 15.

New listings increased 94.5% and total activ...

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Seller market conditions continues?

Posted on Mar 24, 2018 in North Vancouver Strata

Seller market conditions for North Vancouver apartments have been sustained month after month since  February 2015!

February apartment sales are down 6% from February 2017 but up 7% from the 10 year monthly average of 82 and year-to-date sales up 6.5%.

Apartment February new listings was up 16% from same month last year, up 19% from the month before a...

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