Close X
Thursday, November 28, 2024
ADVT 
National

Cooling Vancouver Home Sales Cramp Average Price, But B.C. Market Still Strong

Darpan News Desk The Canadian Press, 13 Sep, 2016 12:25 PM
    VANCOUVER — The British Columbia Real Estate Association says home sales in Vancouver have slowed but the overall housing market across the province is healthy.
     
    Association chief economist Cameron Muir says 8,945 residential sales were recorded by the Multiple Listing Service in August.
     
    He says that's a 1.5 per cent increase compared to August 2015.
     
    Muir points to the B.C. government's newly introduced 15 per cent foreign buyer tax and the 3 per cent property transfer tax on homes over $2-million for slowing the top end of the Vancouver market last month.
     
     
    But strong demand across most other regions of the province offset Vancouver's drag, Muir says in a news release.
     
    Although the total value of sales was down 6.7 per cent compared to last year, and the average B.C. home price skidded 8.1 per cent to $569,393, Muir says those numbers mainly reflect the slower Vancouver market.
     
    "The decline in the average home price was due to a change in the composition and location of homes sold in the province," he says.
     
    The real estate association says the dip in the average price statistic reflects fewer supercharged prices from detached Vancouver properties and cooling sales in the city compared to the rest of B.C.

    MORE National ARTICLES

    Rona Ambrose Calls For Party Unity As Tories Gather In Halifax To Lay Out Priorities

    Rona Ambrose Calls For Party Unity As Tories Gather In Halifax To Lay Out Priorities
    HALIFAX — Interim Conservative leader Rona Ambrose said it's critical her party remain united as it gears up for a leadership race that became more of an open contest after perceived frontrunner Peter MacKay decided to bow out.

    Rona Ambrose Calls For Party Unity As Tories Gather In Halifax To Lay Out Priorities

    B.C. Family Wins $1 Million Lottery Prize Months After Losing House In Fire

    B.C. Family Wins $1 Million Lottery Prize Months After Losing House In Fire
      Sarah Ross of Lumby, B.C., won $1 million in Saturday's Lotto 6/49 draw, months after her family lost their home to a fire in June.

    B.C. Family Wins $1 Million Lottery Prize Months After Losing House In Fire

    Chatty Newfoundland Fugitive Responds To Police 'Wanted' Posting On Facebook

    Chatty Newfoundland Fugitive Responds To Police 'Wanted' Posting On Facebook
    A man identifying himself as Brandon Melbourne told police he would turn himself in on five arrest warrants, and also responded to commenters who suggested he looked like the person caught on camera robbing a BMO 

    Chatty Newfoundland Fugitive Responds To Police 'Wanted' Posting On Facebook

    Motorcycle 'Swarm' Leads To Fiery Crash in Mississauga, Ont

    Motorcycle 'Swarm' Leads To Fiery Crash in Mississauga, Ont
    Videos posted online show motorcycles whipping in and out of traffic, popping wheelies and racing through red lights.

    Motorcycle 'Swarm' Leads To Fiery Crash in Mississauga, Ont

    Halifax Military Police Officer Charged With Sex Assault

    Sgt. Kevin MacIntyre, a military police officer at Canadian Forces Base Halifax, faces one count of sexual assault in connection with an alleged incident in Glasgow, Scotland,

    Halifax Military Police Officer Charged With Sex Assault

    Brian Dickson Convicted In Webcam Murder Denied Government-Funded Lawyer For Appeal

    Brian Dickson Convicted In Webcam Murder Denied Government-Funded Lawyer For Appeal
    Liu was found dead, mostly naked and face down on the floor of her basement apartment.

    Brian Dickson Convicted In Webcam Murder Denied Government-Funded Lawyer For Appeal