August 2019 Real Estate Update

2019-11-18T17:57:50+00:00

Fort St. John is experiencing a rise in commercial and residential real estate values after approval of the TransCanada Coastal GasLink pipeline. While prices in the Vancouver area continue to decline, sales have risen, and the Real Estate Board of Greater Vancouver believes this is a sign of a normalizing market. While some developers have had to cancel or delay real estate development in Metro Vancouver, others are experiencing some success by shifting their focus to purpose-build rental housing. Although observers have warned that the recent downturn in B.C.’s real estate market could result in catastrophic wealth destruction, the B.C. government believes the market is returning to normal conditions.

August 2019 Real Estate Update2019-11-18T17:57:50+00:00

July 2019 Real Estate Update

2019-11-18T17:58:12+00:00

Real estate prices in Greater Vancouver and the Fraser Valley continued to decline in June, as has the sales rate for presale condos in those regions. However, areas of Northern BC and Vancouver Island are experiencing gains in resale prices and strong sales. There are some indications that the declining markets may see a [...]

July 2019 Real Estate Update2019-11-18T17:58:12+00:00

May 2019 Real Estate Update

2019-11-18T17:58:34+00:00

A new poll has found that most B.C. residents believe new taxation is making housing affordability worse. Residential real estate in the Lower Mainland has suffered nearly $90 billion in losses to home equity in the past year which will have major impacts on the B.C. economy. Home sales across the province will remain [...]

May 2019 Real Estate Update2019-11-18T17:58:34+00:00

New Assignments and Beneficial Ownership Registries 101

2019-11-18T17:58:42+00:00

The provincial government is seeking to dissuade artificially increased condo prices and potentially close a tax loop through a new system aimed at registering assignments.  An assignment is when a buyer has purchased a pre-sale condo, and sells it to another buyer (for a higher price) before the building is complete.  Often referred to as [...]

New Assignments and Beneficial Ownership Registries 1012019-11-18T17:58:42+00:00

March 2019 Real Estate Update

2019-11-18T17:58:51+00:00

Canadians’ concerns that the legalization of cannabis will negatively impact property values have not played out in other jurisdictions where marijuana is legal. In fact, in some areas, homes within 160 metres of a retail marijuana store were valued close to 10% higher than those outside of that radius. Fixed rate mortgage rates are [...]

March 2019 Real Estate Update2019-11-18T17:58:51+00:00

February 2019 Real Estate Update

2019-11-18T18:00:22+00:00

The Financial Institutions Commission is increasing its oversight of mortgage brokers in Canada to help curb problems with predatory lending as Canadian debt loads rise and home prices fall. Despite rising interest rates, other data suggest that in Vancouver, delinquencies are not increasing as the number of borrowers who are three months or more [...]

February 2019 Real Estate Update2019-11-18T18:00:22+00:00

January 2019 Real Estate Update

2019-11-18T18:00:29+00:00

The Greater Vancouver housing market continues to see 10 year lows in sales due to increased municipal and provincial regulation, as well as more stringent mortgage stress tests and rising interest rates. This downturn is contributing to the Bank of Canada prediction for negative growth for residential real estate investment in Canada in 2019. [...]

January 2019 Real Estate Update2019-11-18T18:00:29+00:00

Supreme Court ruling supports appeal on GST in bankruptcy cases

2019-11-18T18:00:38+00:00

In our April 12, 2018, blog we wrote about the case of Canada v. Callidus Capital Corporation. The Supreme Court of Canada since heard an appeal of this case and gave its unanimous decision on November 11, 2018, allowing the appeal and overturning the decision of the lower court. The Federal Court of Appeal had determined [...]

Supreme Court ruling supports appeal on GST in bankruptcy cases2019-11-18T18:00:38+00:00