Close X
Saturday, September 21, 2024
ADVT 
National

Vancouver Home Sales Plunge 38.8% Last Month, Real Estate Board Says

Darpan News Desk The Canadian Press, 02 Nov, 2016 12:24 PM
    VANCOUVER — The Real Estate Board of Greater Vancouver says home sales plunged 38.8 per cent last month compared with October 2015.
     
    The board says 2,233 properties were sold in October of this year, down from the 3,646 home sales recorded in the same month last year.
     
    Board president Dan Morrison says changing market conditions combined with a series of government interventions in the real estate market contributed to the decline.
     
    Both the B.C. and federal governments have brought in a number of measures to address soaring housing costs, particularly in Vancouver.
     
    In August, the provincial government implemented a 15 per cent tax for foreign nationals buying property in Vancouver in a bid to stabilize the city's housing prices, which have been among the highest in North America.
     
    Last month, the composite benchmark price for all residential properties in Metro Vancouver was $919,300 — a 24.8 per cent increase compared to October 2015, but a 0.8 per drop from September of this year.

    MORE National ARTICLES

    Four People Dead After Fiery Crash In Brampton, Ont., On Monday Night

    Four People Dead After Fiery Crash In Brampton, Ont., On Monday Night
    BRAMPTON, Ont. — Police are investigating after four people were killed in a fiery crash in Brampton, Ont., on Monday night. Peel Region police say the incident took place just before 9 p.m. (near Bovaird Dr. and Gillingham Dr.).

    Four People Dead After Fiery Crash In Brampton, Ont., On Monday Night

    Man Faces Mischief Charge After Trying To Break Into A Newfoundland Prison

    Man Faces Mischief Charge After Trying To Break Into A Newfoundland Prison
    STEPHENVILLE, N.L. — Police in Newfoundland say it's a first: instead of busting a guy trying to break out of prison, they've arrested a man for trying to break in.

    Man Faces Mischief Charge After Trying To Break Into A Newfoundland Prison

    Nova Scotia Hockey Player In Hospital With Serious Injuries After On-ice Fight

    Nova Scotia Hockey Player In Hospital With Serious Injuries After On-ice Fight
    TRENTON, N.S. — Police in Nova Scotia are investigating after a hockey player was seriously injured during an on-ice incident.

    Nova Scotia Hockey Player In Hospital With Serious Injuries After On-ice Fight

    Sophie Gregoire Trudeau To Open TSX To Mark International Day Of The Girl

    Sophie Gregoire Trudeau To Open TSX To Mark International Day Of The Girl
    She is collaborating with three charitable organizations — G(irls)20, Plan International Canada and FitSpirit — to illustrate how important it is for girls to have equal opportunities to boys.

    Sophie Gregoire Trudeau To Open TSX To Mark International Day Of The Girl

    Torrential Rain, Strong Winds Wreaks Havoc In Atlantic Canada

    Torrential Rain, Strong Winds Wreaks Havoc In Atlantic Canada
     Thousands were still without power in Nova Scotia and some communities in Newfoundland and Labrador were under a state of emergency Tuesday after torrential rain and strong winds blasted the region.

    Torrential Rain, Strong Winds Wreaks Havoc In Atlantic Canada

    Anonymous Donor Foots Strangers' Tab At Coffee Shop To Encourage Kindness

    Anonymous Donor Foots Strangers' Tab At Coffee Shop To Encourage Kindness
    Rachelle Brydon says an anonymous do-gooder set up a $250 tab at Jumping Bean in St. John's Friday, paying for people's food and drinks until the money ran out after about an hour.

    Anonymous Donor Foots Strangers' Tab At Coffee Shop To Encourage Kindness