News & Tips

Canada is extending its foreign homebuyer ban until 2027. On Feb 4, 2024 – the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government’s intent to extend by an additional two years, the existing ban on foreign ownership of Canadian housing. Under the ban, which first came into effect in 2023, […]

Home sales across Metro Vancouver’s housing market off to strong start in 2024 While the Metro Vancouver market ended 2023 in balanced market territory, conditions in January began shifting back in favour of sellers as the pace of newly listed properties did not keep up with the jump in home sales. The Real Estate Board […]

Metro Vancouver housing market shows resilience in 2023, ending the year in balanced territory   Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade. The Real Estate Board of Greater Vancouver […]

Balanced conditions come to the Metro Vancouver housing market for the holiday season   With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver1 among the largest selection to choose from since 2021.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales […]

As of May 2024, the BC Government will be adding its own short-term rental restrictions, which will be in addition to municipal and strata restrictions. The main thrust of the new provincial government legislation is to keep short-term rentals within principal residences only. Although the details are still evolving, below are the current highlights that […]

Here are several programs and incentives that exist in British Columbia and Canada to support first-time homebuyers:   CANADIAN GOVERNMENT PROGRAMS   First-Time Home Buyer Incentive (Government Shared Equity up to 10%) The First-Time Home Buyer Incentive helps first-time homebuyers without adding to their financial burdens. Eligible first-time homebuyers who have the minimum down payment […]

An increase in newly listed properties is providing more choice to home buyers across Metro Vancouver, but sales remain below long-term averages. VANCOUVER, BC – November 2, 2023 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region totalled 1,996 in October 2023, a 3.7 per cent increase from […]

The Bank of Canada maintained its overnight rate at 5 per cent this morning. In the statement accompanying the decision, the Bank noted that there is growing evidence that higher interest rates are dampening economic activity, and it expects growth to be weak through 2024. On inflation, the Bank sees little downward momentum in its […]

As inventory increases, price gains relent in Metro Vancouver to begin the fall season The month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region. The Real Estate Board of Greater Vancouver […]

As summer winds to a close, higher borrowing costs have begun to permeate the Metro Vancouver housing market in predictable ways, with price gains cooling and sales slowing along the typical seasonal pattern. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,296 in August 2023, a 21.4 per […]