Think tank says many will benefit from HST

Think tank says many will benefit from HST

Low and middle income families will be better off with the HST according to new research from the Fraser Institute.

The think tank has found famiies making less than 80-thousand dollars a year will pay less tax over-all thanks to the new HST Credit and Provincial Income Tax Reductions.

Study author Niels Veldhuis says the HST won’t even affect when tax freedom day is held next year. “We calculated that the tax freedom day would basically not change as a result of the HST,” he says, “so we’re not going to be working more for government, we’re not going to be paying more taxes. that of course is not to say that tax freedom day is too early.”

Vancouver Real Estate

In Vancouver, the third wave hits

The economic impact of wealthy buyers from Mainland China has gone all but unnoticed by the average Vancouverite — but it’s no secret to the city’s real estate industry.

New rules, rate hike cool housing market

New rules, rate hike cool housing market

Existing-home sales fell 9.5% in May from the previous month as Canada’s housing market began to wind down from near-record activity as new mortgage rules had their first full month in effect.

Sales totalled 37,576 on a seasonally adjusted basis, down from 41,502 in April, largely because of a decline in purchases in Toronto, Vancouver and Ottawa, the Canadian Real Estate Association said yesterday. The all-time high is 45,266 in February 2007.

May market offers buyers greater selection

May market offers buyers greater selection

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

Investors keen on Vancouver’s commercial property

Investors keen on Vancouver’s commercial property

Vancouver’s commercial real-estate sector is considered a great bet for investment, according to a survey released Tuesday by Colliers International.

Home buyer and seller activity increases in busy spring market

Home buyer and seller activity increases in busy spring market

The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month.

Home listings rise to start the spring season

Home listings rise to start the spring season

A steady influx of new listings has helped create a balanced ‘typical spring’ housing market in the Greater Vancouver region.

The Real Estate Board of Greater Vancouver (REBGV) reports that new listings for detached, attached and apartment properties in Greater Vancouver totalled 7,004 in March 2010. This represents a 60 per cent increase compared to March 2009 when 4,385 new units were listed, and a 52.1 per cent increase compared to February 2010 when 4,606 properties were listed on the Multiple Listing Service (MLS).

Home sales activity strong through Olympic period

Home sales activity strong through Olympic period

The Greater Vancouver housing market continued to experience strong demand from homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010.

Housing supply and demand reach closer alignment in January

Housing supply and demand reach closer alignment in January

Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,515 sales recorded in December 2009.