Greater Vancouver Real Estate Market
Greater Vancouver Real Estate Market Update - December 2018
Download Real Estate Statistics and Reports
Recent detailed reports of Real Estate Board of Greater Vancouver for residential and commercial markets
2019 HIGHLIGHTS
January:
- Only 10% of the listed homes were sold
- Average home prices in Greater Vancouver continued to decrease
- Average price of detached homes decreased further by 1.7% reaching to a total decrease of 9.4% from its peak in 2018.
- Average price of townhouses decreased further by 1.1% reaching to a total decrease of 6.5% from its peak in 2018.
- Average price of condos decreased further by 0.8% reaching to a total decrease of 7.1% from its peak in 2018.
- For some cities total decrease from the peak price in 2018 reached up to 18%.
- For the full report: https://uniqhomes.ca/market
- For extended summary: https://uniqhomes.ca/contact-us
2018 Highlıghts
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)