Author: admin
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BC 2025: New Fees and Tax Changes
The BC home flipping tax now applies at 20% for properties sold within 365 days. Residential rent increases are capped at 3% for 2025, with tax credits available for renters.
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BC Real Estate Sees Strong Start in 2025
In January 2025, BC saw 4,221 residential sales, ↑ 6.4% yearly. Active listings ↑ 27%, reaching ~31K, signalling a normalization in market trends.
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Greater Vancouver market stumbles in 2024—forecasts vs. reality
Metro Vancouver's residential market in 2024 fell short of optimistic forecasts, with actual sales at 26,561, a 2% increase from 2023, compared to the predicted 8% rise. Price growth was also below expectations, with an average increase of 1.5%, settling at $1.3 million. Looking ahead to 2025, GVR maintains cautious optimism, projecting sales to reach…
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NEW LISTINGS AT 10-YEAR HIGH IN 2024 IN FRASER VALLEY
In 2024, the Fraser Valley faced an affordability crisis despite Bank of Canada interest rate cuts, resulting in a decline in annual home sales to a ten-year low of 14,570. New listings reached a ten-year high of 35,698, with Surrey accounting for 51% of sales. The composite Benchmark home price ended the year at $965,000,…
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Why BC Housing Prices Could Continue to Drop
B.C.'s housing market faces uncertainty due to tariff-related concerns in Q1 of 2025. Home price forecasts for B.C. have been revised downward for 2025, with expected declines.
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When Will BC Hosts Register Their Rentals?
BC launches bold rental crackdown—hosts must register by May 1, 2025, or lose their listings. The registry targets housing shortages by enforcing limits and requiring a visible provincial ID on listings.
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Chilliwack Hits 15-Year High in Listings
Chilliwack home sales ↓ 14.5% in January 2025 compared to January 2024. New listings in Chilliwack ↑ 42.2%, reaching 502 homes in January 2025.
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Chilliwack council approves application to rezone mobile home park for 143-unit townhouse project
Senior city planner Adam Roberts stated that the Manufactured Home Park Tenancy Act permits landlords to end tenancies for redevelopment with notice and compensation. Westbow is negotiating with residents to purchase units before issuing a 12-month notice. The redevelopment will preserve trees and improve roads, with a covenant about noise from a nearby race track.…
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Restrictive covenants: A barrier to housing developments in British Columbia
Historical restrictive covenants in British Columbia are hindering efforts to increase housing availability by limiting property use and preventing multi-unit housing development. Recent government bills aim to support small-scale multi-unit housing, but existing covenants still pose challenges for developers. Homeowners often oppose changes to preserve neighborhood character. Section 35 of the Property Law Act allows…
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Happy Easter
Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such…