Total sales was 20.3 per cent below the region’s 10-year sales average
Total listings was 7.6 per cent below the 10-year average
Sales per active listings improved for all type of housing, and increased from 10.4% to 23.4% for total sales
Average price continued to decrease for all type of housing (by 3.3% for total)
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).