BC owners of strata property in buildings with rental restrictions are no longer exempt from the BC Speculation and Vacancy Tax (SVT) as of January 1, 2022. This exemption, which ends December 31, 2021, applied to strata property owners who: were banned from renting units due to a rental restriction in place on or before…
West Vancouver January house and condo sale activity one year change was up +13.8% and +18.2 respectively. The one year change for the MLS® HPI Benchmark Price increased +11.3% for detached WV properties and +7.2% for condos. Our board stats show that 67% of January house sales was in the $2,000,000 to $3,999,999 range and…
Despite low residential sale numbers for all North Vancouver property types the MLS® HPI Benchmark price edged up! Our board stats shows house sale activity was down -21.3% from the same month last year and many of the 37 January house sales took place in the following neighborhoods: 5 – Edgemont 4 – Canyon Heights…
The BC housing market is entering 2022 with the lowest level of active listings on record and significant demand-side momentum. That means strong sales should persist through the first few months of the year and supply will remain severely limited. As a result, we expect to see continued upward pressure on home prices in all…
Just released board stats show January 2022 home sales were down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across across Metro Vancouver. “Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home…
A recent forecast presentation by our board’s economist had three takeaways: Year-over Year sales will decline 9 to 20 percent in 2022 It’s difficult to set a record for sales two years in a row, so the real question is what kind of decline will we see? Our forecast sees a decline of…
North Vancouver 2021 apartment sales accounted for 48% of all NV residential sales. The balance was 34% and 18% for detached home and townhome sales respectively. Since 2016 apartment sales ‘crossed the line’ with more year-end sales than detached homes. 2021 was a record year for NV apartments sales and was +38% above 2020 and…
2021 was a fascinating real estate year. Who would have thought the pandemic would play a significant role in the real estate market! Year end board stats showed North Vancouver and West Vancouver sales totals up as well as MLS® Home Price Index (HPI) for all property types (homes, townhomes and apartments). Check out the…
2021 homes sales reached an all-time record high! Our real estate board reports that Metro Vancouver residential home sales in 2021 increased +42.2% from 2020, +73.6% increase from 2019 and +4% increase over the previous all-time sales record set in 2015. Steady, home listing activity did not keep pace with the record demand seen throughout…
BC Government Links First Time Buyers’ Program reduces or eliminate the amount of property transfer tax you pay when you purchase your first home New Home Registry provides the name of the builder or developer and contact information of the warranty provider Registry of Licensed Residential Builders (including Building Envelope Renovators) Search a particular builder…
