New capital gains tax rules are in effect today June 25, 2024! These changes impact profits from selling assets like rental properties or stocks. What are the changes? The capital gains inclusion rate in Canada has risen from 50% to 66.7% for realized gains over $250,000 per year. To read more details click here.
New provincial short-term rental regulations came into effect today, May 1, 2024! The reg’s restrict short-term rentals to principal residences and either a secondary suite or what is know as an ‘accessory dwelling unit,’ such as a laneway house. For more details on B.C.’s short-term rental rules click here! Check out the interactive map…
The number of Metro Vancouver*homes listed for sale on the MLS® rose nearly 23% year-over-year, providing more opportunity for buyers looking for a home this spring. The Greater Vancouver REALTORS® (GVR) reports that residential sales3 in the region totaled 2,415 in March 2024, a 4.7% decrease from the 2,535 sales recorded in March 2023. This…
The real estate landscape in 2024 has started on a positive note, and industry experts predict a further acceleration in market conditions in the latter half of the year. This creates a timely opportunity for prospective homebuyers to make their move before the market potentially witnesses a resurgence of multiple offers and frenzied activity. As…
Economic forecast….. Under the hood, 2024 is poised to be a growth year for the residential market across the Real Estate Board of Greater Vancouver’s areas. Fundamental factors that drive our market, such as household formation, population growth, and employment growth remain fairly strong despite continued concerns of potentially slower economic growth ahead. With that…
The Real Estate Board of Greater Vancouver just released a report saying….. “Under the hood, 2024 is poised to be a growth year for the residential market across the Real Estate Board of Greater Vancouver’s areas. Fundamental factors that drive our market, such as household formation, population growth, and employment growth remain fairly strong despite…
Buyer confidence and activity is increasing in B.C. despite continued short supply and price escalation, according to real estate professionals. Sales increased by eight per cent month over month in Metro Vancouver in April, said MLA Canada’s Brittany Reimer, a partner and managing director in the real estate agency’s Fraser Valley office. Brendon Ogmundson, chief…
Home sellers were more active in September while home buyer demand remained below the regions long term averages. Let’s take a closer look. Metro Vancouver Realtor®’s registered 1,687 home sales on the MLS® in September. This is a -46% decrease from this time last year and -36% below our 10 year sales average. Sellers new…
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…
As a result of highly competitive market conditions and escalating housing prices, BC’s real estate regulator, the BC Financial Services Authority (BCFSA), is developing a consultation on “blind bidding” to understand whether changes to the offer process in real estate transactions could improve protection for homebuyers. This announcement was paired with recent news that the…
