Category: Uncategorized
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Time to Update B.C.’s Property Transfer Tax
B.C.'s property transfer tax (PTT) is outdated, with rates unchanged since its 1987 introduction. Originally a “luxury tax,” the PTT now affects nearly all home sales due to inflated property values.
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Will Rate Cut Revive B.C. Real Estate?
Increased Sales: Early-Q4 saw a significant boost in home sales across B.C. despite flat numbers in Late-Q3.Rate Expectations: Experts expect a 0.5% cut, which could slightly increase market activity.
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Buyers remain cautious to begin the fall market
Home sales in Metro Vancouver declined 3.8% year over year in September 2024, totaling 1,852 sales, which is 26% below the 10-year seasonal average. New listings increased by 12.8% to 6,144 properties. The total active listings rose by 31.2% to 14,932. The sales-to-active listings ratio is 12.8%, indicating potential downward pressure on prices. The benchmark…
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B.C. Construction: $159.6B and Counting
The construction industry in British Columbia significantly influences the Real Estate market dynamics. Current construction project values have risen to $159.6B, reflecting a 39% increase over 5-yr.
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Burnaby sees a pretty big drop in average asking rent
In October, Burnaby saw a notable drop in average asking rents, making it the second-most expensive city in Canada. Vancouver remains the most expensive, with one-bedroom rents at $2,610, down 1.5% from September and 9.1% year-over-year. Two-bedroom units in Vancouver also decreased to $3,430. In Burnaby, one-bedroom rents fell to $2,398, while two-bedroom rents increased…
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वास्तुकला बाजार को समझना
खरीदारों और विक्रेताओं के लिए वास्तुकला बाजार के टिप्स में आर्थिक स्थितियों, ब्याज दरों और जनसांख्यिकीय प्रवृत्तियों को समझना शामिल है। खरीदारों के लिए: एक बजट तय करें, मोहल्लों का अनुसंधान करें, एक वास्तुकला एजेंट को संलग्न करें, और विस्तृत जांच करें। विक्रेताओं के लिए: सही मूल्य तय करें, कर्ब एपील को बढ़ावा दें, घर…
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Average asking rents for Burnaby homes have fallen — again
Rent prices in Burnaby have decreased, with a one-bedroom averaging $2,398, down 9.4% from October and 3.8% from September. A two-bedroom averages $3,062, showing a slight increase of 0.3% from September but down 8.4% from 2023. Vancouver remains higher, with one-bedroom rents at $2,610. The report indicates that rent declines are primarily in larger cities,…
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New Tax Plan to Benefit Most BC Households in 2025
Over 90% of British Columbians will benefit from proposed annual tax relief starting in 2025. The plan exempts $10K of income from taxes, reducing over $1K for most households.
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BC Housing Project Faces Violations, Lawsuits
A BC housing project was designed to help middle-income buyers, but many violated program terms. Nearly a third of units were sold to buyers who owned other properties or didn’t reside in their units.
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BC Home Sales Sluggish Despite Rate Drop in Late-Q3
BC home sales remained sluggish in September, with over 1K residential units sold, down from August. Sales were down by 140 units compared to August and less than 0.5% compared to September 2023.