BC Government Introduces Key Changes to Property Transfer Tax to Enhance Housing Affordability
Posted on Feb 23, 2024
In a significant move to tackle housing affordability issues, the Government of British Columbia has announced three major changes to its Property Transfer Tax (PTT) framework as part of the 2024 provincial budget.
Firstly, the threshold for the first-time homebuyers’ exemption is set to increase substantially, rising from a fair market value of $50...
Understanding the Extension of Canada's Ban on Foreign Home Purchasing
Posted on Feb 16, 2024
The recent announcement by Finance Minister Chrystia Freeland regarding the extension of the ban on foreign home purchasing in Canada has sparked discussions about its impact on housing affordability and its effectiveness as a policy measure.
Initially introduced in 2022, the ban prohibits foreign nationals and commercial enterprises from buying res...
Bank of Canada Pauses Interest Rate Hikes: A Deeper Dive into What It Means
Posted on Jan 26, 2024
The Bank of Canada recently made a significant move, or rather, chose not to make one. In a departure from its usual pattern of rate hikes, the Bank has decided to keep its overnight rate steady at 5%. This decision signals a marked shift in the Bank's approach towards managing inflation, which has been a hot topic for both policymakers and the pub...
Lower Mortgage Rates to Energize Spring Housing Market
Posted on Jan 04, 2024
As we look forward to the spring of 2024, there's good news on the horizon for the British Columbia housing market. After a period of slowing home-buying activity towards the end of 2023, it appears that the market is poised for a significant boost, thanks to anticipated changes in mortgage rates.
The Current Scenario
Towards the end of 2023, the rea...
A Look into November's Fraser Valley Real Estate Market
Posted on Dec 04, 2023
As we delve into the holiday season, the Fraser Valley real estate market is showing signs of a seasonal cool-down, with both buyers and sellers maintaining a holding pattern that has characterized the latter half of this year. The Fraser Valley Real Estate Board's latest report reveals key insights into the market dynamics for November.
Transaction...
Canadian CPI Update November 2023
Posted on Nov 21, 2023
1. Inflationary Adjustments:
Canada's Consumer Price Index (CPI) increased by 3.1% in the past year, exhibiting a marginal moderation from the preceding month.The primary contributor to this deceleration is the noteworthy 6.4% drop in gasoline prices for October, resulting in a 7.8% decrease compared to a year ago.
2. Food Price Dynamics:
Food prices...
