Weekly Buzz: B.C. home prices increase and development projects delayed

May 8, 2017 10:26 am


Recent stats are showing a rebound in housing prices in the Lower Mainland that took a bit of a hit after Vancouver’s foreign buyer tax came into effect. The rise in prices is lead by the region’s active condo market, according to The Real Estate Board of Vancouver. Meanwhile, Victoria’s mayor is considering imposing the foreign buyer tax in the hopes of cooling prices in the city. However, real estate professionals believe it is local competition – not foreign capital – that is driving up prices.

In the commercial market, delayed projects in Squamish and Winnipeg garnered much attention on WesternInvestor.com – though for different reasons.

Without further ado, here’s the skinny on Western Canada’s top real estate market stories.

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