B.C. government intends to crack down on hidden ownership of real estate

B.C. government intends to crack down on hidden ownership of real estate

The British Columbia government is taking steps to end opportunities to anonymously invest and hide wealth in real estate. Finance Minister Carole James says a new, publicly accessible registry is being created to identify the owners of real estate in the province. A news release from the Ministry of Finance says the first-of-its-kind registry in […]

BC real estate sales less than last year

BC real estate sales less than last year

The British Columbia Real Estate Association says there’s been a substantial decrease in the total number of residential unit sales in the province compared to last year. The newest numbers from the association show there were 8,837 sales this month — a 28.7 per cent decrease from the same month last year. The average sale […]

BC housing market becoming more balanced, if not more affordable

BC housing market becoming more balanced, if not more affordable

For the first time in three years, the BC Real Estate Association is suggesting there’s a better balance of supply and demand in the province. But that doesn’t mean housing is becoming more affordable for most buyers in the Lower Mainland. The association’s Chief Economist Cameron Muir says sales have dropped, but prices are still up […]

Doubt cast on B.C. vacation-home price drop forecast

Doubt cast on B.C. vacation-home price drop forecast

A widely quoted national report claiming British Columbia’s recreational real estate market will see the biggest price slump east of the Atlantic is challenged by local realtors, developers and the latest sales statistics. The annual Royal LePage Canada Recreational Property Report forecasts B.C.’s cottage country will see a 2.8 per cent drop in prices this year due to the […]

Nanaimo-Vancouver foot-passenger ferry not happening this summer

Nanaimo-Vancouver foot-passenger ferry not happening this summer

“We are being really careful here,” David Marshall, company director of operations, said in an interview. “We are not in control of the timelines.” The Victoria-based company said last year it anticipated starting service this summer. “Please bear with us. We are still investing on this project and remain fully committed to providing this much […]

B.C. speculation tax to cause vacation property price dip: forecast

B.C. speculation tax to cause vacation property price dip: forecast

British Columbia’s new speculation tax on out-of-province buyers will likely convince a wave of owners to sell their vacation properties, pushing down home prices, said a forecast from Royal LePage. By the end of September, the real estate company is expecting the average price of a recreational home in B.C. to reach $531,333, a 2.8 […]

B.C. resale prices predicted to keep climbing by BCREA

B.C. resale prices predicted to keep climbing by BCREA

Market headwinds are slowing the growth rate of home prices in B.C. but not reversing it, according to real estate association Home sales across the province may be soft so far this year compared with the last couple of years, but this won’t be enough to bring average prices down, according to a forecast by the British Columbia […]