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Criminal networks could have used British Columbia’s real estate market for more than $1 billion of money laundering. A secret police report, obtained by Global News, reveals that crime networks are linked to 10% of the 1,200 luxury real estate purchases in the Lower Mainland included in a police study in 2016. These include a […]

The introduction of new regulations in British Columbia could lead to a delay or cancellation of thousands of new rental homes. A total of 19,972 homes are currently in development across the province but two thirds – 12,000 – could be at risk if the B.C. government imposes restrictive new policies on rental properties. A […]

Cooler conditions for British Columbia’s home sales remained in October as the impact of mortgage regulations continue to impact the market. Sales were down 26.2% year-over-year with 6,405 homes sold through the MLS system. The average MLS residential price was down 4.1% to $690,161. British Columbia Real Estate Association (BCREA) says that total sales dollar […]

As expected the Bank of Canada has boosted its trend-setting overnight rate by a quarter of a percent to 1.75%.  It is the 5th hike since rate increases began in mid-2017.  The bank rate is now above 1.5% for the first time since December 2008. The central bank has also signaled its intention to continue […]

Conditions of overvaluation are easing nationwide and there is improvement in the vulnerability of the hottest markets. CMHC has published its latest Housing Market Assessment and says that even in four markets where overvaluation is detected – Vancouver, Toronto, Victoria, and Hamilton – house prises are returning to levels that are supported by housing market […]

With the Bank of Canada widely expected to increase interest rates Wednesday, a poll from debt advisors MNP shows rising concern over higher rates. The survey, conducted by Ipsos, found that 1 in 3 Canadians are worried that rising interest rates could push them towards bankruptcy, up 6% since June. More than half (52%) of […]

B.C.’s finance minister has introduced legislation to move ahead with a controversial speculation tax on vacant or underutilized properties. The bill ends months of speculation about how the province planned to use the new levy to help deal with runaway housing prices in some B.C. communities, outlining a range of tax rates from 0.5 to […]

Mortgage industry representatives met with around 50 members of parliament and other government officials to urge them to reconsider some of the measures introduced to curb the housing market. Mortgage Professionals Canada highlighted the continued negative impact of the stress test and discussed housing affordability. “Fewer Canadian now are able to obtain the mortgage they […]