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Recent detailed reports of Real Estate Board of Greater Vancouver for residential and commercial markets

Market Highlights

2018 Highlights

 October:

  • Bank of Canada raised interest rates by 0.25% to 1.75% (5th hike since July 2017)

September:

  • For residential tenancies, BC government cut the standard allowable rent increase for 2019 to 2.5% (from 4.5%, which is calculated as inflation rate plus 2%)  

July: 

  • Bank of Canada raised interest rates by 0.25% to 1.50% (4th hike in 12 months)

February:

  • Additional property transfer tax increased from 15% to 20% and extended to other regional districts (Capital, Fraser Valley, Central Okanagan, Nanaimo).
  • A new tax called "speculation and vacancy tax" introduced for vacant homes. For details please visit: Frequently Asked Questions About the Speculation and Vacancy Tax
  • Property transfer tax increased from 3% to 5% for the part above $3 million of residential properties' value. 

January:

  • Mortgage stress test requirement extended to buyers with a down-payment of 20% or more
  • Bank of Canada raised interest rate by 0.25% to 1.25% (3rd time in 6 months)