Knowledge, Integrity, Humour

Blog › November 2019

Surprise, More Empty Home Tax For City of Vancouver

Well, it isn't as bad as what was proposed for you pied a terre owners, but the City of Vancouver has passed a resolution to raise the amount of the Empty Homes Tax from 1% to 1.25% in 2020 and another .25%/annum for the following 2 years.   


Full story below:


Declarations must be made by February 4th, 2020 for the 2019 tax year:

New Recreation Facilities Planned by Vancouver Parks Board





Get ready for some first class community centres and pools!  Read all about it here:

Green Housing... Not

The False Promise of Green Housing

One designer is challenging the conventional wisdom about environmentally friendly construction


BCREA Market Update

For the complete news release, including detailed statistics, click here.

For immediate release

Home Sales Continue Normalization Trend in October

Vancouver, BC – November 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same month last year. The average MLS® residential price in the province was $724,045, an increase of 5.1 per cent from October 2018. Total sales dollar volume was $5.55 billion, a 25.4 per cent increase from the same month last year.  

“Most markets around the province are returning to a more typical level of sales activity,” said BCREA Chief Economist Brendon Ogmundson. “That recovery in sales and slower listings activity is putting upward pressure on prices in many markets.”

MLS® residential active listings in the province were up 1 per cent from September 2018 to 36,567 units, although down slightly when compared on a seasonally adjusted basis. With sales and listings down, overall market conditions in the province have tightened, with a sales-to-active listings ratio of 21 per cent.

Year-to-date, BC residential sales dollar volume was down 9 per cent to $45.3 billion, compared with the same period in 2018. Residential unit sales were 6.2 per cent lower at 65,468 units, while the average MLS®residential price was down 3 per cent year-to-date at $691,618.    
For more information, please contact:  

Brendon Ogmundson
Chief Economist
Direct: 604.742.2769
Mobile: 778.505.6793
Email: [email protected]
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BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
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October Statistics from Real Estate Board of Greater Vancouver

Home buyer activity increases in October VANCOUVER, BC – November 4, 2019 – The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity. 

Click here for details from Real Estate Board of Greater Vancouver


Click here for october dexter stats