Activity steady to start the summer season
July 23rd, 2010Activity steady to start the summer season
The Greater Vancouver housing market experienced steady activity to begin the summer season.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second ...
July 2010 Market Update
July 23rd, 2010
July 2010 Market Update
Welcome to the 2nd Half of the Year!
On July 1st, the HST came into effect.
To calculate how the HST will affect a typical new house price, please visit www.macrealty.com to use the HST calculator. Remember though, there are many subtleties to the HST laws and its associated transition rules. An accountant will likely be needed to answer these more detai ...
Interest Rate Update
July 20th, 2010The mortgage broker in our office just sent me this so for those of you who haven't heard the news today:
Canada's central bank issues gloomy outlook as it raises trend-setting rate by quarter point
By Julian Beltrame, The Canadian Press
OTTAWA - The Bank of Canada has hiked its trendsetting interest rate a quarter point to 0.75 per cent, while issuing a more gloomy outlook for the economy an ...
Macrealty Market Update Harmonized Sales Tax (HST)’s effect on real estate prices in BC
July 16th, 2010New Construction
All new residential construction will now be taxable at the 12% rate rather than the previous 5%. To offset some of this, the government has introduced a New Housing Rebate which will significantly reduce the burden of the additional tax up to a house value of $525,000. For new construction valued at over $525,000, the purchaser will receive a flat rebate of $26,250, m ...