Pause a minute ??. other Pause a minute ……. One of the worst days so far for Coronavirus was the 10th of February. On that day, 108 persons in China died of Coronavirus. But, on the same day 26,283 people died of Cancer 24,641 people died of Heart Disease 4,300 people died of Diabetes and […]
Bank of Canada has cut the policy rate to 1.25% Richard Laycock other Taking swift action in response to global and domestic markets, the Bank of Canada has cut the policy rate to 1.25% today. The decision can be seen as a reaction primarily to the Coronavirus outbreak and its effect on global commerce. […]
The speculation and vacancy tax impact limited to Metro Vancouver Steve RandallREP The impact of British Columbia’s Speculation and Vacancy Tax (SVT) on the province’s home sales has been highlighted in a new report. BCREA’s Market Intelligence Report estimates that the areas covered by the tax have seen sales decline by an additional 12.5% versus […]
REBGV says condo inventory is lacking Steve RandallREP Metro Vancouver home sales gained 44.9% year-over-year in February to a total 2,150. Real Estate Board of Greater Vancouver reported that home sales were up 36.9% month-over-month but despite the gain sales were 15.6% below the 10-year average for February. “Home buyer demand again saw strong year-over-year […]
BoC likely to follow US rate cut Phil Hall Mortgage Broker News Yesterday’s unexpected announcement by the U.S. Federal Reserve to cut its benchmark interest rate in response to the economic uncertainty tied to the outbreak of the novel coronavirus (formally known as COVID-19) has convinced industry leaders that the Bank of Canada (BoC) will […]
Low inventory on luxury homes spur increase in prices Gerv TacadenaCanadian Real Estate Wealth Prices in the prime property segment are expected to grow further next year as buyers compete for a limited supply of homes, according to the latest market forecast by Royal LePage. Substantial gains are forecast for the Greater Toronto Area (GTA), […]
Alberta condo board prevent short-term rentals Canadian Real Estate Wealth A condo board in Alberta has won a court battle preventing owners from engaging in short-term rentals through web-based platforms. Court of Queen’s Bench Justice Paul Belzil issued a permanent injunction Thursday in support of The Ten Lofts Condominium Association in Edmonton and its legal […]
Estimating the Impacts of the Speculation and Vacancy Tax BCREA Summary Findings: While all BC markets experienced sharp declines since 2018, the Speculation and Vacancy tax(SVT)is estimated to have reduced home sales in taxable regions in BC byan additional15per cent compared to non-taxable regions. Growth in home prices since 2018 is estimated to be5 per […]
Home sellers once again getting the upper hand as demand exceeds supply, especially among condos and townhomes Western Investor February saw steady demand from home buyers in Metro Vancouver, while the inventory of listed properties “struggled to keep pace,” according to a March 3 report by the Real Estate Board of Greater Vancouver (REBGV). There […]
In Metro Vancouver two and three bedroom rentals are at 1% Kimberly GreeneMortgage Broker News As affordability continues to plague homebuyers in some of Canada’s hottest housing markets, a growing number of families are wondering whether homeownership is the best fit for their families after all. In fact, the latest CHMC data suggests that demand […]
