REBGV Stats June 2010
 
Activity 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

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 ...

The 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 ...

New 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 ...