Westwood Plateau

Sales Increase in Aug 2019 compared to Aug 2018 Metro Vancouver housing market sees summer uptick in sales VANCOUVER, BC September 4, 2019 Home buyer activity increased to more typical levels in Metro Vancouver* throughout the summer months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease fr...Continue reading

Canadian House Prices Will Pick Up In 2020 Say Economists Home prices are set to be flat for the rest of this year before picking up in 2020. A panel of economists and analysts convened by Reuters says that lower mortgage rates and strong economic conditions will drive prices higher next year.... But homeowners and investors hoping for a new Canadian housing boom appear to be out of luck; the panel expects growth to be a modest 1.8% in 2020. The strong labour market and population growth will be key factors in next year’s price increases. "There are views that the factors are in place for continued recovery, but then again it will be a slow recovery, not a sharp snap-back," RBC’s senior economist Robert Hogue told Reuters.

Criminal networks could have used British Columbia’s real estate market for more than $1 billion of money laundering. Secret police study finds crime networks c...ould have laundered over $1B through Vancouver homes in 2016 The stately $17-million mansion owned by a suspected fentanyl importer is at the end of a gated driveway on one of the priciest streets in Shaughnessy, Vancouver’s most exclusive neighbourhood. A block away is a $22-million gabled manor that police have linked to a high-stakes gambler and property developer with suspected ties to the Chinese police services. Both mansions appear on a list of more than $1-billion worth of Vancouver-area property transactions in 2016 that a confidential police intelligence study has linked to Chinese organized crime. The study of more than 1,200 luxury real estate purchases in B.C.’s Lower Mainland in 2016 found that more than 10 per cent were tied to buyers with criminal records. And 95 per cent of those transactions were believed by police intelligence to be linked to Chinese crime networks. The study findings, obtained by Global News, are a startling look at what police believe to be the massive money laundering occurring in the Vancouver-area real estate market. Guest: David Eby BC Attorney General Published Nov 26, 2018 11:31 AM

B.C. government introduces legislation on speculation tax