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Category: Real Estate News

Causes For The Downturn In The Housing Market

B20 Stress Test

The Impact of the B20 Stress Test on BC Home Sales   Without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018 Approximately $500 million in BC economic activity was lost due the B20 stress test The decline in home sales in 2018 was largely due to market […]

YourHomeTeam Featured in Vancouver Sun

Medallion 2018-March-16 Vancouver Sun

YourHomeTeam – recognized as one of the top real estate teams in Greater Vancouver Medallion award winners again in 2018. Thank you to all of our wonderful and loyal clients.

BC Homeowner Grant Threshold Raised to $1.65M

housing tax

Provincial Government Increases Homeowner Grant Threshold BC Assessment values have increased, but the vast majority of homeowners in the province will still be eligible for the 2018 homeowner grant this year, as the provincial government has raised the threshold for the grant to $1.65 million, up from $1.2 million last year in 2016. Any property owner with a home valued […]

Bank of Canada Rate Holds at 1 Percent

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Bank of Canada Interest Rate Announcement – October 25, 2017 – BCREA News Release   The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 1 per cent. In the press release accompanying the decision, the Bank noted that inflation has edged up slightly and is expected […]

New Mortgage Rules Effective Jan 2018

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It’s about to become more difficult to qualify for a mortgage, but there is still a window of opportunity before the new mortgage rules take effect in January. Canada’s banking regulator has modified its controversial new mortgage stress-testing rule. The Office of the Superintendent of Financial Institutions published revised final guidelines for its mortgage qualification […]

City of Vancouver Considers Legalization of Short-term Rentals

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Vancouver city staff presented a proposed regulatory framework to city council this week that would move the city closer to legalizing short-term rentals, such as those booked through sites like Airbnb and HomeAway. Under the proposed rules, short-term rentals – defined as those shorter than 30 days – would be allowed in the principal residences […]

Bank Of Canada Rate Hike

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Bank of Canada raises overnight rate for first time in seven years Bank of Canada Interest Rate Decision – July 12, 2017 – The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 0.75 per cent. In the press release accompanying the decision, the […]

Most & Least Affordable Areas To Purchase a Home

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“While pockets of affordability still exist, they are disappearing as prices in the Fraser Valley and other parts of BC continue to rise.” Chilliwack and Sooke were the top two most affordable areas to purchase a condo apartment. Overall, the least affordable areas to purchase a home were West Vancouver, Lions Bay and North Vancouver; […]

Housing Market Update May 2017

A row a new townhouses in Richmond, British Columbia

TOWNHOME & CONDO DEMAND DRIVING VANCOUVER’S REAL ESTATE MARKET Between January and April 2017, condo and townhome sales contributed to 68.5% of total home sales across Metro Vancouver, according to Real Estate Board of Greater Vancouver data released May 2nd. Over the last three months, the benchmark price of condominiums has seen the largest increase […]

Empty Homes Tax

Empty Homes Tax Image

The Empty Homes Tax will be applied annually, with the first tax year beginning on January 1, 2017. Homes that are deemed empty will be subject to a tax of 1% of the property’s BC Assessment value. Most homes will not be subject to the tax, as it does not apply to principal residences or homes […]

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