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Here are B.C.'s plans to combat a sudden spike in strata insurance

June 25th, 2020

VANCOUVER -- The province announced the "first steps" of its plan to address B.C.'s rising strata insurance rates Tuesday morning.

The changes are meant to bring transparency to the industry, close loopholes surrounding depreciation reports and help strata owners and corporations more information when it comes to making decisions, the province says.

Rising strata insurance rates are a major ...

New CMHC requirements will have buyers flocking to the market: brokers

June 10th, 2020

Experts in the real estate industry say CMHC’s new, strict lending measures will trigger a surge in home purchase volume as potential home buyers rush to the mortgage market before July 1, when these policies take effect.

“Whenever there has been a deadline given for a major mortgage rule change,” Ron Butler, mortgage broker at Butler Mortgage, told Yahoo Finance Canada “there ha ...

Real estate forecast anticipates 2019 sales to edge up after 2018's fall

November 8th, 2018

The British Columbia Real Estate Association estimates that economic growth will remain strong enough to support a boost in sales next year after a substantial decline in 2018, according to its latest forecast.

When the dust settles at the end of this year, association chief economist Cameron Muir expects sales recorded through the Multiple Listing Service will have fallen 23 per cent to 80, ...

B.C. government wants to resolve foreign buyers tax lawsuit without full trial

May 23rd, 2017

B.C.'s provincial government says the constitutional challenge put forward by a foreign homebuyer on Metro Vancouver's 15 per cent foreign homebuyers tax is "of questionable merit" and can be resolved without undertaking a full trial.

The provincial government has responded to the potential class action lawsuit launched  last September by lead plaintiff Jing Li, a university student from t ...

Bank of Canada Rate Announcement

September 7th, 2016
The Bank of Canada held the target for the overnight rate at ½% Wednesday.

Canada’s economy shrank in Q2, according to the BoC; however it’s still predicting a bounce back by the end of the year.

“Second-quarter GDP was pulled down by the Alberta wildfires in May and by a drop in exports that was larger and more broad-based than expected,” the Bank of Canada said in its announcement. “Exports d ...

Leading lender curbs mortgages in Vancouver, Toronto

June 1st, 2016

More foreign buyers snapping up Canadian condos: CMHC

December 4th, 2015

International buyers increased their appetite for Canadian condos over the past year, new federal data show, although the country’s housing regulator acknowledged it still lacks a clear picture of foreign investment in the housing market.

While the overall share of foreign buyers in the Canadian condominium market is still small, new figures from Canada Mortgage and Housing Corporation s ...

November homes sales up in Vancouver, but will it last?

December 4th, 2015

VANCOUVER – Home sales in the Vancouver area posted their second-highest ever November sales as they climbed 40.1 per cent compared with a year ago.

The Real Estate Board of Greater Vancouver says home sales on the Multiple Listing Service in Metro Vancouver totalled 3,524 last month.

That was up from 2,516 a year ago and down slightly from 3,646 in October.

Is Squamish the best kept real estate secret in BC?

December 3rd, 2015
Young families getting priced out of Vancouver and heading to the ‘burbs is a familiar story, but developers say there’s a new exodus underway – to Squamish.

In November, the ParkHouse project, a 65-unit residential condo complex in the city’s downtown, sold out in less than 90 minutes.

“We knew that there was a great desire for this type of housing here in Squamish, so we knew there was ...

2016 Homeowner Assessments

November 3rd, 2015

Some homeowners in the Metro Vancouver area can expect to see a significant increase when they receive their 2016 assessment notices in the mail this January.

Increases of 15 to 25 per cent are expected for single-family homes in Vancouver, the North Shore, Burnaby, Tri-Cities, New Westminster, Richmond, Surrey and Delta.

Typical strata residential increases will be in the five to 10 per ce ...

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