Category: Uncategorized
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Canada Housing Market: Tariffs Stall Spring
Canada’s spring housing market is slowing due to economic uncertainty and U.S. tariff concerns affecting buyers and sellers. Home sales dropped 9.8% in Mid-Q1, with prices declining 3.3% and new listings falling 12.7%.
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Mid-Q1 Home Sales Drop 10.4% Yearly
In February 2025, home sales in Canada fell to their lowest level since November 2023 amid trade war uncertainty. February home sales ↓ 10.4% yearly and ↓ 9.8% MoM on a seasonally adjusted basis.
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‘Don’t always go up’: Bulk of Metro Vancouver presale condos in sold in 2022 and 2023 now appraised below original price
Over half of Metro Vancouver presale condos sold in 2022-2023 are now appraised below their original prices, dropping 5-20%. Lenders offer smaller mortgages, forcing buyers to cover the difference. Market oversupply and weak demand drive prices down, with some areas like Langley and north Burnaby heavily affected. Investor purchases have declined sharply, and nearly 4,840…
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Canadian Rents Fall: A 4.8% Decline
Average asking rents in Canada dropped by 4.8% in Mid-Q1, reaching their lowest level since July 2023. Despite declines, rents remain 5.2% higher than in 2023 and 16.9% above pre-COVID levels.
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BC Rents Down, but Are Short-Term Rentals the Reason?
New B.C. law limited short-term rentals to principal residences, impacting over 22K listings provincewide. Since implementation, Kelowna, Victoria, and Vancouver saw short-term listings fall by 31%, 24%, and 22% respectively.
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Happy Victoria Day
The holiday has been observed since 1845, as a celebration to honour Queen Victoria. The day unofficially signals the start of summer for many Canadians. It is celebrated with parades and fireworks in some cities. Sending our warmest wishes to everyone for a happy and peaceful long weekend.
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Essential Tax Tips for the 2025 Filing Season
The filing deadline is April 30, with a June 16 deadline for self-employed individuals. Payments are due by April 30.Faster CRA account access, live chat support, and simplified sign-in across multiple CRA platforms enhance tax-filing convenience.
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Interest Rate Could Drop to 2% as Tariffs Take Effect
BMO economists revised their forecast, predicting four Bank of Canada rate cuts, lowering the rate to 2% by July. BMO expects the US Federal Reserve to stay on the sidelines until September, with a possible 25 basis point cut.
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Metro Vancouver city claims title of cheapest to rent per sq. ft.
Surrey has become the cheapest city to rent in Metro Vancouver, with rates at $2.55 per sq. ft., surpassing West Vancouver at $2.56 and Langley at $2.88. It is also the only city where unfurnished three-bedroom units are under $3,000. While Vancouver saw a decrease in rents across all unit types, the overall region experienced…
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BC’s 2025 Budget: Steady but No Breakthrough Plans
BC Budget 2025 lacks bold strategies, relying on a $4 billion contingency without clear direction on tariffs. The government focuses on trade diversification, but bureaucratic complexities may slow down necessary economic actions.