February 2016

Property Transfer Tax -Good news for many but what does it all mean?

Posted on Feb 18, 2016

Short Version1.   There are no changes to the first-time home buyer exemption limits (with the exception of point #2 which includes first time buyers).  2.  All buyers (first-time buyers and repeat buyers) are now exempt from PTT on purchases of NEW homes up to $750,000 in value (think properties on which GST is being charged).·         Note: the buyer must b...

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Posted on Feb 16, 2016

February continues the trend of a busy real estate market. What’s badly needed is still not coming on – Supply. The question of why prices are rising in all segments and areas of the market relate back to a fundamental of supply and demand – and right now supply is far below that of the demand in the market place. While constraints on demand is loo...

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Posted on Feb 02, 2016

The activity in our real estate market continued on from where it left off in 2015. In Greater Vancouver, January saw an increase in the number of homes sold compared to January 2015, up 32%. In fact it was the second highest January on record for homes sold. Total new listings coming on market in January were 4,551 compared to 4,887 (down 7%) in J...

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