B.C. government introduces new home-flipping tax legislation
The British Columbia government has introduced legislation enacting its new home-flipping tax on Wednesday.
The province says the tax will target speculators and improve housing supply.
“Wealthy investors are using housing as a short-term investment to make a fast profit while people looking for homes can’t get into the market,” Finance Minister Katrine Conroy told media after introducing the bill in the B.C. legislature.
Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.
More than 40 fun and fantastic things to do in Vancouver in April
April has arrived and the new month is filled with events that you’ll want to check out around Metro Vancouver!
B.C. Real Estate News
LOWER MAINLAND
Number of Metro Vancouver homes listed for sale up by 23% (DailyHive)
Metro Vancouver real estate deals slow to start in 2024 (BIV)
VICTORIA AND VANCOUVER ISLAND
More options for home buyers, but real estate sales have yet to pick up (Times Colonist)
OKANAGAN
Relief on the way for South Okanagan’s tight industrial market (BIV)
BRITISH COLUMBIA
B.C. rejects Prince George’s request to be exempt from upcoming short-term rental rules (CTV News)
B.C. to ban some ‘personal use’ evictions, stop rent increases over new children (Castanet)
CANADA
Housing market will see ‘staggered’ return of buyers and inventory: RBC (Vancouver Sun)
Younger Canadians buying homes sooner than planned (CityNews Everywhere)
Look what’s happened to the cities with average $1-million home prices (The Globe and Mail)