B.C.’s speculation tax brings in $115M, mostly from owners outside province

Posted on Jul 14, 2019

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The B.C. government says it expects to collect $115 million from the first year of the speculation and vacancy tax, nearly all of which is coming from homeowners living outside the province.

The Ministry of Finance said Thursday all of that revenue will go towards new housing projects across B.C., and that less than 0.2 per cent of British Columbia...

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Vancouver city council's rejection of a 21-unit rental project draws fire

Posted on Jun 27, 2019



Vancouver city council voted 7-4 on June 25 against rezoning a single-family lot for a 21-unit rental town home project next to a small hospice on a busy part of Granville Street that divides Shaughnessy.

There was a very long public hearing that went on longer than 10 hours which resulted in a contentious rejection.

The hospice, which offers end-of...

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Hong Kong crisis could lead to a big resurgence in Vancouver's housing market

Posted on Jun 23, 2019



As the ongoing political crisis in Hong Kong over the planned extradition bill to China continues to evolve and worsen, the conditions are building up for a possible mass migration of Canadians living in Hong Kong to return to Vancouver.

If this extradition bill ends up being passed, a substantial number of the estimated 300,000 Canadians currently...

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Tree chopping begins as controversial stormwater project moves ahead

Posted on Jun 19, 2019



The only sound you could hear on 31st Street in West Vancouver Monday morning was the buzzing of a chainsaw from a worker who prepared to chop down the western red cedar obstructing a controversial stormwater management plan. 

After an acrimonious standoff that included a stop in B.C. Supreme Court, the chainsaw came out Monday morning as a worker st...

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Not-owner-occupied property skyrockets in Vancouver

Posted on Jun 15, 2019



Property in Metro Vancouver is often sold as an investment, not as a place to live.

Nearly one-fifth of detached homes and almost half of the condos in Vancouver are not occupied by owners.

These figures all come from data released by the Canadian Housing Statistics Program on Tuesday.

This study presented that 54.3 per cent of condos were owner-occup...

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In Metro Vancouver, home sales have jumped 44.2% in a month. However, prices continue to slip further

Posted on Jun 09, 2019



I
n Metro Vancouver, home sales have jumped 44.2% in a month. However, prices continue to slip further (Western Investor, 2019).

Although, May 2019 had the lowest May sales total in 19 years with 2,638 homes sold, according to figures released on June 4th, 2019 by the Real Estate Board of Greater Vancouver (REBGV).

The month of May is usually the busi...

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