May 2018

BC speculation tax

Posted on May 20, 2018 in Tips

The speculation tax is expected to become law in the BC legislature this fall.

"Urban centres throughout the province are in a housing crisis. Rents and home
prices have surged past local incomes and, in many communities, vacancy rates sit
close to 0%.
Speculation has contributed to runaway prices and made it difficult for British
Columbians to find a h...

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stronger market segment

Posted on May 16, 2018 in North Vancouver Strata

Townhome total April sales in North Vancouver were up 9.5% from April 2017, up 20.5% from month before and up 25% from 10 Year Monthly Sales Average.  Total townhome sales ended the month up 8% from first four months of 2017.

New listings during April increased 19.5% from April 2017, up 32.5% from 10 Year Monthly New Listings Average. Townhome invent...

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sales down

Posted on May 14, 2018 in West Vancouver Strata

West Vancouver townhome sales this April were down 86% from April 2017 and down 75% from the 10 Year Monthly Sale Average.  

At any time West Vancouver strata options are limited in contrast to North Vancouver. For example, last year West Vancouver strata sale activity accounted for 32% of 756 property sales (includes houses, townhomes and apartments...

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market inconsistencies

Posted on May 12, 2018 in North Vancouver Strata

North Vancouver apartment sales for this April.....
  • weakened a modest 5% from same month in 2017, 
  • declined 13.5 % from the month before, March 2018, and
  • up 22% from 10 Year Monthly Sales Average.
Total NV apartment sales for the first four months of the year were pretty much similar totals for 2017; 382 and 387 respectively.

North Vancouver sales totale...

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demand constrained

Posted on May 10, 2018 in West Vancouver Strata

Demand for all West Vancouver and North Vancouver property types (homes, apartments and townhomes) has pulled back this year as a result of recent:
  • federal changes to mortgage qualification requirements and increased interest rates;
  • provincial government introduction of a speculation tax, increase of property transfer and foreign buyer taxes.
West Van...

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Posted on May 08, 2018 in North Vancouver Homes

In North Vancouver total house sales were down 30% this April from April 2017 and down 16% from the Ten Year Monthly Average respectively.  Not unlike the West Vancouver house market, North Vancouver home sales experienced their fourth straight month of declines year over year.

New listings during April were up 49% from the same time last year, while...

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