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May 2021 Market Update

 

How changing Canada's capital gains exemption would hit the sale of your home

Whenever Canada's real estate landscape is being reshaped by seismic levels of buying activity, calls inevitably grow louder for some form of government intervention to put the brakes on home prices.

Careful what you wish for.

Past attempts to cool housing markets - a tax on vacant homes in British Columbia, a "foreign buyer" tax in Ontario, the nationwide mortgage "stress test" - have failed to keep prices in check, leaving Canada's provincial and federal governments with few options.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

Transform garden spaces into restful oases

Q. I know I'm not alone in feeling the stress of these times. I've been hoping that the garden would be a supreme comfort and place of refuge from all the currently pressing concerns, and it is, to a degree, but I think it could be more so. Have you ever turned your thoughts and actions to making the garden, and gardening, more restful and healing?

A. Even in "normal" times, but most especially now, and as an only partially recovered workaholic, I think of this issue often....

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B.C. Real Estate News

BRITISH COLUMBIA

Douglas Todd: Ottawa falls flat while B.C. house prices take to the sky (Vancouver Sun)

Mortgage Matters: The housing market is sizzling (Vancouver Sun)

B.C. puts $2 billion toward low-interest loans for builders of affordable housing (Vancouver Sun)

Hot B.C. housing market drives property transfer tax gains (Vernon Morning Star)

To Ease Housing Crisis, BC Is Largely Looking to Developers as Partners (The Tyee)

Petition launched against Bank of Canada's quantitative easing policy driving "real estate inflation" (The Georgia Straight)

B.C. economist says proposed 1 percent tax on Canadian homes owned by foreigners a "fringe measure" (The Georgia Straight)

Land Owner Transparency Registry opens to public (voiceonline.com)

LOWER MAINLAND

Vancouver's red-hot housing market starting to cool (Western Investor)

Land sales soar as real estate preps for B.C. recovery (Western Investor)

Western Canada apartment market poised for growth (Real Estate News Exchange)

Housing construction boom not unique to Langley (Aldergrove Star)

Opinion: Buyers taking ‘bizarre risks' in red-hot Burnaby real estate boom (Burnaby Now)

Here's what the North Shore Neighbourhood House site might look like in the future (Toronto Star)

Bosa Properties shifts focus to rental buildings instead of condo projects (Vancouver Sun)

Spring sales and home prices heat up in Greater Vancouver (Vancouver Sun)

Metro Vancouver market highlights April 2021 (Real Estate Board of Greater Vancouver)

Supply response emerges in Metro Vancouver's active housing market (Ein Presswire)

April Vancouver home sales surge 342% from 2020 pandemic lows (BNN Bloomberg)

Is the party finally over? Fraser Valley Real Estate Board reports signs of housing market cooling down (The Georgia Straight)

WHISTLER & SQUAMISH

Whistler real estate keeps on rolling (The Squamish Chief)

Whistler council approves $10M credit line for WDC (Pique News Magazine)

How hot is Squamish's real estate market? (The Squamish Chief)

VICTORIA & VANCOUVER ISLAND

Industrial condo space sprouts in Victoria (The Globe and Mail)

Renderings released of proposed waterfront walkway and park in Nanaimo (Chek News)

Pandemic barely dents booming Victoria apartment sector (Real Estate News Exchange)

Most houses selling for over list price in red-hot Victoria market (Times Colonist)

No break for capital region homebuyers with low supply, high demand (Times Colonist)

OKANAGAN

Kelowna sees a real estate gold rush (The Globe and Mail)

Kelowna luring buyers away from expensive markets (Journal of Commerce)

W. Kelowna ‘getting things done' in spite of pandemic (Kelowna Daily Courier)

Okanagan real estate boom keeps escalating (Vernon Morning Star)

Design for 42-storey high rise project in downtown Kelowna taking shape (Info News.ca)

 
 

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