Market Minute

Market Minute - March 2020

Posted on Mar 02, 2020 in Market Minute


The Canadian government recently announced revised mortgage qualification rules that will come into effect on April 6th of this year.

Current rules require would-be buyers to qualify for a mortgage using the Bank of Canada's average five-year-rate. But starting in early April, qualifying using that Bank of Canada rate goes out the window. According...

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Market Minute - February 2020

Posted on Jan 30, 2020 in Market Minute


February finds the Sunshine Coast still in a Buyers’ Market but there are indications that we will be moving towards a balanced situation before the end of the year. Sellers seem to have accepted the new reality with regard to pricing their homes to sell and there are less overpriced listings on the market.

February is a good month in which to list

T...

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Market Minute - January 2020

Posted on Jan 01, 2020 in Market Minute


BC's Speculation and Vacancy Tax was raised to two per cent in 2019 and 2020 is the first year in which affected owners will be hit with the full bill. If you own a home in the City of Vancouver, you may also be subject to an additional one per cent vacancy tax. Lastly, foreign buyers could be hit with an additional property transfer tax of 20 per...

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MARKET MINUTE - DECEMBER 2019

Posted on Dec 02, 2019 in Market Minute


In a recent report from Central 1 Credit Union, the bank's deputy chief economist, Bryan Yu, predicts a decline in provincial resale transactions this year but a 13 per cent increase in 2020.

This means my earlier prediction of a balanced market in spring 2021 may have been pessimistic. If Yu's calling for a slow end to 2019 and a busy 2020, is accu...

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Market Minute - November 2019

Posted on Oct 31, 2019 in Market Minute


The turmoil surrounding our federal election has subsided and Canadians now have a Liberal minority government. This means, at least for the time being, home buyers and sellers shouldn’t expect any changes to the current mortgage qualification requirements.

This leads me to believe that Sunshine Coasters will continue to see a buyers’ market into su...

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Market Minute - October 2019

Posted on Sep 28, 2019 in Market Minute


The Sunshine Coast real estate market circa October 2019 can be described as follows: If you don’t need to sell right now, don’t. If you MUST sell, price your property sharply to avoid chasing the market further down.

Deciding what your property is worth on the open market requires equal parts science and art. The science comes from knowing what dat...

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