This month I’m taking a closer look at home sale and home listings in order to give you better insights in to the Greater Vancouver housing market. I’ve listed some numbers below basically the story continues: Home sales continue at record levels; housing inventory isn’t keeping up with the demand. With the demand so high it makes it […]
Read MoreArchives for 2016
How Do Changes to the Property Transfer Tax Affect You?
3% Property Transfer Tax As part of BC’s recently introduced provincial budget, some tweaks were made to the Property Transfer Tax that will affect home buyers. A new 3% PTT rate will apply to the portion of all home sales that exceed $2 million. For homes that sell for below $2 million, the Property Transfer Tax will continue to […]
Read MoreMillennials: Not a Lost Generation After All
Canadian Millennials Are Prospering “The current generation of millennials is, on average, wealthier than previous generations of young Canadians,” says a report from the Canadian Department of Finance, though with some cautionary notes. And these well-to-do, youthful Canadians are prospering far more than their counterparts in the United States, Britain and Australia, where “younger generations are no longer successively wealthier.” […]
Read MoreHousing Market Trends for April 2016
Housing Market Variations – Detatched Houses This graphic shows a couple of interesting things about the trends in Greater Vancouver real estate price increases. First, all detached houses across the region saw one year increases of close to 30%. Second, the 5 year increases showed much more variability, ranging from increases of mid 40% (Surrey) to mid 70% (West Van and Vancouver East). One […]
Read MoreWhy is Vancouver’s Housing Market So Hot?
Another month, another real estate record. Across the region we are seeing housing prices rise and at the same time, the number of homes sold setting records. The demand for homes is just not slowing and it’s that demand that is pushing prices upwards. What’s behind it all? The hot local housing market is driven by a […]
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