Changes to the British Columbia Residential Tenancy Act

Posted by & filed under Blog Post.

Recently, Bill Ethier from the Properties in Victoria Professionals Team sat down with Hunter Boucher, Member Services Manager at Landlord BC to learn about some of the rule/regulation changes surrounding the BC Residential Tenancy Act. The following highlights were touched on during the video interview. Back in December 2017 the BC Government introduced changes to the rules […]

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New Mortgage Rules – update from Prime Mortgage Works.

Posted by & filed under Mortgage Trends, Update, Victoria Real Estate Info.

How will the new mortgage rules affect your real estate purchasing power? Callum Greig from Prime Mortgage Works discusses with Sarah West how the new rules can and could affect your real estate decisions going forward. As of January 1st, 2018 the Canadian Government implemented new Mortgage Rules affecting what you can afford. Banks now […]

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February Home Sales Reflect Typical Consumer Demand

Posted by & filed under BC Real Estate Update.

The British Columbia Real Estate Association (BCREA) reports that a total of 6,580 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, down 31.7 per cent from the same period last year. Total sales dollar volume was $4.53 billion, down 39.7 per cent from February 2016. The average MLS® residential price […]

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First Time Homebuyers’ Program Changes

Posted by & filed under BC Real Estate Update, Blog Post.

On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, takes effect today. BCREA appreciates this government’s attention to the needs […]

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Economy, Population Growth Support Housing Demand Through 2018

Posted by & filed under B.C. Real Estate, BC Real Estate Update, Blog Post.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 14.1 per cent to 96,345 units this year, after reaching a record 112,209 units in 2016. A moderation trend that began early in 2016, combined with tougher federal government mortgage qualification rules and the foreign buyer tax in Vancouver, is expected to […]

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BC Home Sales Post Record Year

Posted by & filed under B.C. Real Estate, BC Real Estate Update, Blog Post.

The British Columbia Real Estate Association (BCREA) reports that a record 112,209 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2016, an increase of 9.5 per cent from the previous year. Total sales dollar volume was a record $77.6 billion, up 18.8 per cent from 2015. The average MLS® residential price […]

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