Tagged: HST

New housing sales stall over transition out of HST

New housing sales stall over transition out of HST

Metro Vancouver’s new home industry is hurting badly over the absence of any transition rules to the return of the provincial sales tax since the harmonized sales tax was defeated in a referendum Aug. 26, three property experts to The Vancouver Board of Trade Friday.

Pace of housing price increases continues to slow

Pace of housing price increases continues to slow

Housing prices rose for the 15th straight month in July, but by the smallest margin in four months, according to a national index released Wednesday.

And for the first time in four months, prices failed to rise above the previous month’s in all of the six metropolitan areas measured in the Teranet-National Bank house price index.

Vancouver

There are two million reasons for high prices in Vancouver

What drives Vancouver’s house prices so relentlessly to levels four times higher than Winnipeg’s, and more than half again what Torontonians pay?

It’s simple, says Tsur Somerville of UBC Centre for Urban Economics and Real Estate.

“If you want Winnipeg-level house prices here, all you have to do is tear down the mountains and fill in the ocean.”

BC and Ontario housing markets feel effects of HST in July

BC and Ontario housing markets feel effects of HST in July

The Canadian Real Estate Association (CREA) says national home sales activity continued to trend down in July 2010. The decline was almost entirely the result of fewer sales in British Columbia and Ontario. A slowdown in demand in these two provinces had been widely expected in July, as many purchases were brought forward into the first half of the year in advance of the introduction of the HST.

BC and Ontario housing markets feel effects of HST in July (Video)

BC and Ontario housing markets feel effects of HST in July (Video)

National home sales activity continued to trend down in July 2010. The decline was almost entirely the result of fewer sales in British Columbia and Ontario.

Canadian housing market cools

Canadian housing market cools

The malaise in Canada’s housing market is deepening, as record-low interest rates and a vast selection of homes prove to be insufficient incentives to draw new buyers into the market.

Just days after the Canadian Real Estate Association downgraded its sales forecast for the rest of the year, data from British Columbia and Alberta show sharp double-digit decreases in the number of homes sold in July compared to a year ago.