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Plummeting Inventory Levels in August 2016

Posted September 13th, 2016 at 7:53 pm by Aaron Nicklen |   0 Comments

Plummeting Inventory Levels in August 2016

The Vancouver Island Real Estate Board (VIREB) area is currently experiencing historically low inventory levels for single-family homes. Based on annual comparative statistics, inventory levels for single-family homes have decreased by 38%, with 1,394 available properties in August 2016. When measured against July 2016’s inventory levels of 1,577 available listings, August 2016 still displays a […]

July’s Simmering Housing Market

Posted August 18th, 2016 at 7:00 pm by Aaron Nicklen |   0 Comments

July’s Simmering Housing Market

July’s Simmering Housing Market A simmering effect is developing across Vancouver Island’s housing market. Annual data shows a growth rate of 19% in home sales since July 2015.   Yet, on a month-to-month basis, Vancouver Island’s housing market has slowly tapered off. July 2016 saw a 15% decrease in home sales compared to the previous […]

Breaking It Down: A Quick Guide to Understanding the New 15% Foreign Ownership Tax

Posted August 18th, 2016 at 6:58 pm by Aaron Nicklen |   0 Comments

Breaking It Down: A Quick Guide to Understanding the New 15% Foreign Ownership Tax

Breaking It Down: A Quick Guide to Understanding the New 15% Foreign Ownership Tax As of August 2, 2016, the Government of British Columbia (BC) has implemented an additional property transfer tax (PTT) of 15% on all residential property transfers to foreign buyers in the Greater Vancouver Regional District. So, if you’re a foreign national […]